The recent correction in Bitcoin prices has been primarily influenced by Grayscale ETF expansion positioning and technical factors. From a technical analysis perspective, chart patterns suggest that Bitcoin may bottom at $36,000 to $38,000. If the market can hold steady at this price, we could expect to see Bitcoin prices climb back up.
This price correction may be a normal pullback in the short term rather than the end of a bull market. The Grayscale ETF's expanded positioning has put some pressure on the market, but that factor is likely to fade over time. Investors should keep an eye on the $36,000 to $38,000 range, which, if supported, could mark a bottom for the market.
This adjustment does not change the fundamentals of Bitcoin, and there are still long-term positive factors to support it, such as the increase in institutional investment and the scarcity of Bitcoin. Therefore, investors should stay calm during short-term fluctuations and pay attention to the market's technical signals and changes in fundamentals, which will help them better grasp investment opportunities.
Overall, this correction provides an opportunity to observe the health of the market and the timing of dips. Bitcoin has bottomed at $36,000 to $38,000. If market sentiment gradually improves, the price is expected to rebound. Investors should make rational decisions based on their own risk preferences and long-term investment goals, and pay close attention to market dynamics.
