1inch, Celsius (CEL) and PancakeSwap (CAKE) rally as traders return to DeFi By Cointelegraph

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1inch, Celsius (CEL) and PancakeSwap (CAKE) rally as traders return to DeFi

Bitcoin’s (BTC) range-bound action since its breakdown at the $61,000 level has confused analysts. Some are projecting that a sharper correction could be in development while others remain steadfast in their belief that the uptrend will resume shortly.

According to data from Ecoinometrics, history suggests that price breaks out between 300 and 350 days following a supply halving. Currently, 329 days have passed since the latest halving, and if history repeats itself Bitcoin could soon witness a breakout.

Crypto market data daily view. Source: Coin360