The recent market correction has caused a lot of panic, especially among new investors. In different communities and discussion groups, various voices are intertwined, leaving many people confused about the future trend.
So, how will the market develop next? What are the initial signals of stopping the decline?
Judging from today's market, the market's reaction has been weaker than expected since Powell's speech.
Since Bitcoin broke through the 90,000 mark, it has experienced three relatively sharp declines, and today's correction is the fourth.
It can be said that the first three sharp declines consumed a lot of buying, so after this correction, there was no strong buying rebound in the market, but a negative decline after sideways fluctuations.
Such a trend actually trapped a lot of bargain hunting funds.
From the fundamentals of Bitcoin, the overall situation has not changed much, and institutions are still continuing to increase their holdings.
Therefore, Bitcoin is expected to consolidate around 100,000. In the long run, the market still has upward potential.
However, the short-term continuous decline is not accompanied by obvious trading volume, which means that the market is still in the consolidation stage. Only after consolidating the current range can the price continue to break upward.
