Bitcoin's long-anticipated correction has arrived! After touching a record high of $99,845 on Nov. 22, $BTC slid to a 6-day low of $92,775, sparking intense debate across the crypto community. However, Bitcoin bulls quickly fought back, pushing the price near $95,000 during early trading today.
Despite the pullback, Bitcoin remains a solid 40% up for November, keeping the $100K milestone within reach. So, what's next for the king of crypto?
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đ„ Key Insights Driving the Market: đ„
MicroStrategyâs Massive Move
Michael Saylorâs MicroStrategy bought 55,500 BTC worth $5.4 billion on Nov. 25, raising eyebrows. As Saylor keeps accumulating, many wonder: "Whoâs selling that weâre still below $100K?"
Long-Term Holders Taking Profits
On-chain data reveals $60 billion in profit-taking by long-term HODLers over the past 30 daysâthe biggest sell-off of this cycle. Bloombergâs Eric Balchunas notes:
âThe call is coming from inside the houseâitâs long-term holders cashing out!â
Historical Patterns Hint at Support Zones
Analyst Rekt Capital observes Bitcoin historically dips 6-7 weeks into price discovery before resuming its uptrend:
2013: 6-week rally, 25% dip.
2017: 7-week rally, 34% correction.
2021: Similar cycles unfolded.
Bitcoin is now in its 4th week of price discovery, suggesting a possible dip to $88K-$90K before climbing higher.
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đ§ Analyst Predictions: đ§
1ïžâŁ Mags: âSaylor bought big; ETFs are accumulating. Someoneâs selling, but $100K is still in sight.â
2ïžâŁ DonAlt: âFeels like Saylor wanted $100K but missed itâwatch for more buying pressure!â
3ïžâŁ James Check: âThis profit-taking is naturalâjust part of Bitcoinâs price discovery process.â
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đĄ What to Watch For Next:
Support Zones: $88K-$90K could act as a key test.
ETF Moves: Institutions are quietly accumulating Bitcoin ETFs.
Macro Sentiment: If long-term holders finish profit-taking, fresh demand could drive Bitcoin back to its bullish path.
đ Bottom Line: The dip could be a launchpad for the next rally. Stay sharp, as $100K still looks achievable in this bull cycle.
đ Are you buying the dip or waiting for lower prices? Let us know!
#GODINDataForAI #NotPriceSurge #MajorUnlocks #ETHPriceSurge #Write2Earn!
