Bitcoin Faces Drop Before Market Enters ‘Full Bull’

Bitcoin is on the verge of potentially revisiting long-term range lows before the “full bull” market takes over, according to analyst Cole Garner in his latest analysis released on October 10. Garner warned that “capitulation is incoming” for Bitcoin markets, which could result in a sharp decline before recovery. While Bitcoin could still benefit from global liquidity trends, Garner believes that an initial shock may surprise many traders. He pointed out that on-chain liquidity is tightening, which could impact Bitcoin’s price performance. “Liquidity on-chain is tightening: I smell capitulation incoming,” he summarized, calling it a “common pre-requisite to full bull.”