Over the past two weeks, the world’s leading cryptocurrency has struggled to break definitively above the $116,000 price mark while also testing the $106,000 support. As Bitcoin consolidates around $110,000, the latest on-chain analysis suggests an exciting outlook despite the recent price struggles.

Why Bitcoin Price Might Soon See Expansion

In a QuickTake post on the CryptoQuant platform, XWIN Research Japan, a crypto research institution, explores the possibility of a price reversal in the Bitcoin market, saying the current consolidation might be representative of asset-building momentum. The institution’s optimistic conjecture relies on readings obtained from three important on-chain metrics.

Firstly, XWIN Research Japan highlights that there has been a sharp drop in Open Interest

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