#ReboundRally
Bitcoin has undergone a significant correction, with its price falling more than 15% from its all-time high of $107,600. This drop, which took BTC below $93,000 on December 20, came as no surprise to analysts and is often interpreted as a healthy move for the market.
According to Captain Faibik, the correction is nearing completion. He attributes the decline to a large bearish divergence between BTC’s price and the relative strength index (RSI), a common pattern that historically results in drops of 8% to 10%, considered “healthy retracements.”
While BTC’s realized losses totaled $28.9 million over the past five days, representing a 320% increase from the 2024 weekly average, the correction also presented an opportunity. Many saw this move as a chance to acquire Bitcoin at lower prices before a potential market recovery.
