This article is also available in Spanish. Bitcoin has been hovering around the $100,000 mark for months, but this week it fell to $80,000 amid a selloff. This has caused some investors to panic and reconsider bullish sentiment, but for crypto-enthusiasts, all is not yet lost.
According to a recent Matrixport analysis, the current market crash could last a little longer, until March or April, but bit
let's take a look at why bitcoin's current correction is not necessarily negative or unprecedented.
First, it's important to note that the recent sell-off is not limited to cryptocurrencies. The entire market, including three U. S. stock indexes, has fallen over the past five trading days.
the main impetus was President Trump's tariffs. The initial announcement of retaliatory tariffs on Canada and Mexico upset the market, but the recent confirmation of the tariffs added fuel to the fire and eventually led to $BTC breaking through a two-month channel. Tariffs raise commodity prices, cause global tensions and disrupt supply chains. All of these factors combine to increase market volatility.
financial turmoil has led to a significant rise in the U. S. dollar. The US Dollar Index (DXY) has risen for three consecutive days, indicating that traders are looking for safer investments.
Furthermore, according to sentiment tracker Santiment, mentions of "buy on the dip" are at their highest level since July 2024.2024 July - September It's worth noting what happened in July.
#Bitcoin hit new highs, moved sideways and was in danger of falling, but each time it pulled back and eventually rose to new highs.
we may be seeing almost exactly the same thing happening now. In other words, the current drop could be a healthy correction before the next upswing.
Furthermore, business legends such as Michael Saylor are advising against selling bitcoin. In addition, Standard Chartered has set the target level for bitcoin at $500,000. In other words, the general attitude towards bitcoin is definitely positive.
#BTC Bull
#Token ($ BTCBULL).
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