Analyst: Bitcoin's decline may be affected by the Swiss National Bank's unexpected interest rate cut, and the correction may have been completed

According to CoinDesk, Bitcoin fell 5% on Thursday, falling below $65,000, and the U.S. dollar strengthened under the influence of the Swiss National Bank's interest rate cut. Despite this, XRP, FIL and ICP rose against the trend, while SOL and AVAX fell.

Analysts say Bitcoin has rebounded from $60,000 on Wednesday, completing a correction and targeting “higher levels” in the next phase of its uptrend. The dollar index (DXY) has regained strength in the U.S. dollar after the Swiss National Bank unexpectedly cut interest rates by 25 basis points, affecting Bitcoin’s price action.

Market analysis firm Swissblock said Bitcoin had completed a pullback before Wednesday’s rally, approaching the $58,000-59,000 price target they predicted last week.

“It’s time to get to higher levels,” analyst Henrik Zeberg said, adding that altcoins and Bitcoin miners will do “very well” in the next phase of the uptrend.