A major correction is expected in mid-January!!!
Currently, the main factors for the correction are, first, the digestion of profit-taking, and second, the stagnation of the Federal Reserve's interest rate cuts. Based on these two factors, I personally expect the correction period to be about a month, around January 20th. This may vary depending on market conditions and could happen a few days earlier or later; it's hard to determine. In any case, the demand cycle for this correction is expected to last about a month, and prices will return to the original value range for consolidation. The expected position for BTC is around 90,000, and for ETH, it is around 3,100.
First, since the start of the interest rate cuts on September 18th, a lot of capital has flowed out from the U.S. into the cryptocurrency market, driving this wave of momentum. The second point is that the new administration has provided favorable conditions for the crypto market, creating a wave of FOMO that directly pushed Bitcoin to 100,000. This is the expected position for Bitcoin over the past decade and is the main factor driving this upward movement.
With the end of the first phase of the Fed's interest rate cuts, we are now preparing for the second round of interest rate cuts. This process will continue, forming the first, second, third, and fourth phases, all of which are very important reference points for our crypto market.
That's all for today's analysis. If you're interested, feel free to click on the profile picture and explore!!
