Bitcoin Faces Correction of 12% After Recent All-Time High
Bitcoin has experienced volatility after dropping below the $110,000 mark, leading to market uncertainty. Traders are divided on whether this pullback is a temporary setback or the start of a larger downtrend.
Key points from analyst Darkfost include:
- Bitcoin has retraced approximately 12% from its recent all-time high of $123,000.
- This correction aligns with historical trends, as previous bull markets have seen average pullbacks of 20-25%.
- The current movement is viewed as a normal correction that could present new entry opportunities for long-term investors.
Bitcoin's price recently dipped to around $108,000 but rebounded above $110,000. However, it struggles to maintain momentum, with the need to reclaim the $112,000-$115,000 range to foster bullish sentiment.
Risks remain, as falling below $108,000 could lead to further declines towards $105,000 or $101,000, where critical support lies.
In summary, while Bitcoin faces short-term challenges, historical patterns suggest potential stabilization before future growth.
