Bitcoin (BTC) could see a correction after its recent spectacular rally near $98,000. Here are the current key takeaways on the situation:

1. Correction Risks: According to analysts like those at Glassnode, Bitcoin could see a decline towards 58,000-59,000 due to momentum divergence and an overheated market. They note that prolonged rallies are often followed by corrections to stabilize prices  .

2. Long-Term Optimism: Despite the short-term risks, many experts are predicting continued upside, with targets reaching 100,000 or more by early 2025. Tailoring factors include strong inflows into Bitcoin ETFs and increased dominance in the cryptocurrency market .

3. Scenarios to watch: In the short term, a break below 70,000 41605176862 could trigger further decline, while a close above 98,000 41605176862 could confirm a continuation of the uptrend towards new all-time highs.