Bitcoin Price Correction Targets $55,900 and $44,700 Amid Market Drop

The Bitcoin market is experiencing a correction, with a 10.4% price drop over the past week.

Potential Bitcoin Price Targets

  • Analyst Ali Martinez identifies potential local bottom targets at $55,914 and $44,713 using MVRV Pricing Bands.
  • Bitcoin could face additional corrections of 35%-48% before a possible rebound.
  • If a bullish rebound occurs, upside targets are $134,195 and $178,927.

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Bitcoin Market Overview

  • Current trading price: $85,938 with a 1.15% daily gain.
  • Daily trading volume decreased by 68.09%, now at $40.75 billion.
  • US BTC Spot ETFs report a net outflow of $4.339 billion in four weeks.

Bitcoin