Bitcoin’s highly anticipated pullback has arrived, sparking a flurry of debate among crypto traders and analysts. After peaking at an all-time high of $99,845 on Nov. 22, Bitcoin slipped to a six-day low of $92,775, marking a 7% drop. However, true to its nature, the king of crypto is already rebounding, trading near $95,000 during Asian hours on Nov. 26.

Despite this dip, Bitcoin remains up 40% this month, keeping the long-term bullish sentiment intact. But the big question remains: Is this the start of a major correction, or just a healthy dip before the next leg up?

What’s Behind Bitcoin’s Dip?

Several key factors are driving this correction:

1️⃣ Profit-Taking by Long-Term Holders:

According to on-chain data, long-term holders have sold $60 billion worth of BTC over the past 30 days. Analyst James Check called it the largest profit-taking event this cycle, suggesting seasoned investors are cashing in on recent highs.

2️⃣ Institutional Moves:

MicroStrategy, led by Bitcoin advocate Michael Saylor, made headlines again by purchasing 55,500 BTC worth $5.4 billion on Nov. 25. Despite this massive buy, Bitcoin has yet to break the psychological $100,000 mark, leaving analysts puzzled.

Mags: “Saylor just bought $5.4B of Bitcoin. ETFs are still accumulating. Who is selling at these levels?”

DonAlt: “Saylor tried to push $100k and failed. Now the market is waiting for more buyers.”

Adam Back: “Who’s offloading Bitcoin under $100k at this stage?”

3️⃣ Market Patterns:

Historical price data shows that corrections like this are normal during bull runs. Analyst Rekt Capital highlighted that in previous cycles, Bitcoin’s rallies were often followed by major retracements after weeks of price discovery:

2013: 6 weeks up, 1 week correction (-34%)

2017: 7 weeks up, 1 week correction (-34%)

2021: Similar patterns before resuming uptrends

This time, Bitcoin has been in price discovery for 4 weeks, hinting that a test of support in the high $80k range could happen before resuming its rally.

Is $100,000 Still Within Reach?

The current dip may feel unsettling, but many analysts believe this is just part of Bitcoin’s long-term bull cycle. As Bloomberg ETF analyst Eric Balchunas pointed out, long-term holders are cashing out profits, not abandoning the market.

Why $100k Is Still in Play:

Institutional interest remains strong.

Profit-taking phases are natural during price discovery.

Past patterns suggest a bounce-back after corrections.

What Should Investors Do Now?

Watch Key Levels: High $80k support is critical for the next move.

Stay Calm: Historical data suggests corrections are temporary.

Plan for the Long Term: Bitcoin remains the strongest performer this year, and its fundamentals are intact.

💬 What’s your take—buy the dip or wait for more downside? Share your strategy in the comments!

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