Matrixport has released a report suggesting that Bitcoin may experience a significant rebound by the end of the year, potentially catching many market participants off guard. According to BlockBeats, the report highlights that Bitcoin has been consolidating since hitting an all-time high in March 2024. Despite this consolidation, the cryptocurrency has achieved a year-to-date return of +49%, closely mirroring the historically anticipated return of +47%.

The analysis indicates a strong likelihood of a notable price recovery in early October, based on Bitcoin’s performance trends over the past decade. As we approach the final months of the year, the report anticipates an exciting period of volatility and opportunity for all participants in the cryptocurrency market.

In addition to Bitcoin’s outlook, the report notes a slight rebound in Ethereum miner fees, suggesting that the summer’s consolidation phase for crypto assets may be drawing to a close. However, the sustainability of this rebound remains uncertain, necessitating a thorough examination of Ethereum’s revenue and miner fee trends. By closely monitoring these metrics, market participants can gain valuable insights into the durability of the current upward momentum. If this rebound fails to hold, it could signal a shift in the underlying dynamics of market activity.