Analyst: Bitcoin has been consolidating for a long time to build momentum for the future market, and Friday's U.S. employment data may serve as a breakthrough catalyst

ChainCatcher news, according to CoinDesk, the market has basically been in a range-bound state over the past week, and analysts believe this lays the groundwork for a potential strong upward movement.

FxPro Chief Market Analyst Alex Kuptsikevich stated: "A prolonged consolidation usually builds momentum for the subsequent trend. The next important trigger could be the employment market data on Friday."

"Over the past five days, the market's volatility range has been very narrow, showing a slight downward trend. However, it has still failed to break through its 200-day moving average, which currently stands at $3.01 trillion. If a global positive factor emerges, the market is expected to break through and potentially challenge the $3.5 trillion area," Kuptsikevich added, noting that the altcoin market may experience strong volatility.