Bitcoin's recent 5% drop may seem alarming, but experts believe it's just a short-term dip. Despite the US markets closing higher on November 25, buoyed by optimism over new Treasury Secretary nominee Scott Bessent, Bitcoin fell nearly 5%, diverging from stocks.
Ki Young Ju, CEO of CryptoQuant, believes Bitcoin's bull market remains intact, indicating that such pullbacks are typical during parabolic rallies. He explained that Bitcoin has endured similar corrections after soaring to fresh price records.
In fact, CryptoQuant independent analyst MAC_D remains unchanged at a short-term target of $100,000 per BTC, calling a correction of as much as 10% a "natural phenomenon".
So, what's next for Bitcoin? Popular analyst Ali Martinez has observed that Bitcoin is showing bullish divergence against the RSI, which could help the top crypto's price recover above the $95K-$96K range.
Overall, while Bitcoin's recent drop may be concerning, experts believe it's just a short-term dip and that the bull market remains intact.
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