What to Expect Next in Bitcoin? Is There a Possibility of a Correction? Analysts Explained!
While Bitcoin is paving the way for $100,000 with the rally it has experienced in recent days, analysts generally predict that $100,000 will come soon.
However, not every analyst thinks the same and states that they are not optimistic about the Bitcoin price as there are still concerns about the short term.
At this point, analysts claimed that Bitcoin was in a high volatility phase and was facing a potential retest of the previous $69,000 peak.
Speaking to Coindesk, SOFA senior manager Augustine Fan said that Bitcoin's rally has entered a more volatile phase.
Noting that Bitcoin's growing dominance is similar to the mega-cap trend in the S&P 500, Fan stated that this situation in BTC could create challenges for the broader crypto market.
Fan also noted the risk of the exuberant market sentiment creating a potential top for Bitcoin and cryptocurrencies, saying that this pattern in the S&P 500 shows a rapid price increase followed by an equally rapid decline, and warned investors of a sharp and sudden decline.
Market analyst Omkar Godbole similarly warned investors about a possible sharp decline, arguing that the Bitcoin price could peak at current levels and a breakout could occur.
According to the analyst, if there is a breakout in price, Bitcoin could retest its old ATH around $69,000, with the downward wick potentially dropping to $60,000.
WeFi co-founder Maksym Sakharov also shared a similar view, saying, "The upward trend in Bitcoin has slowed down since it crossed $90,000. The fact that the US Federal Reserve is no longer in a hurry to cut interest rates has forced investors to reconsider their bets on Bitcoin. If the Fed continues to take a somewhat aggressive stance on interest rate cuts, Bitcoin's appeal may decrease, which will negatively affect the price."
🚨 $BONK /USDT RALLY ALERT: Momentum Building for a Breakout! 🚨
BONK is trading at 0.00005503, up by 7.94% in the last 5 minutes, showing a sharp upward move. After bouncing from a low of 0.00004530 earlier, it has surged toward its 24-hour high of 0.00005504. With increasing buying pressure and a volume surge, BONK is showing strong bullish momentum. If it sustains above 0.00005500, the next targets could be 0.00005750 and higher. However, a pullback to the 0.00005332 level could offer a safer entry. Watch closely—volatility is high, so trade with a tight stop-loss to capture profits! #BONK #CryptoAlert #TradingSignals
🌟 Mark your calendars, crypto enthusiasts! 🌟
The countdown has begun for an epic AMA (Ask Me Anything) session where no question is off-limits, and the answers might just blow your mind!
Whether you’re here for the deep dives into blockchain wizardry or just to toss a fun, out-of-the-box question way (yes, I see you meme-makers), this is your chance to join the conversation. 🚀💬
$ILV is currently trading at 43.86, up by 7.05% in the last 24 hours, showcasing significant volatility with a high of 49.00 and a low of 40.90.
This gaming token has captured traders' attention, offering opportunities for both bullish and bearish plays. Key resistance lies at 49.00, and a breakout above this level could push $ILV beyond 50, reigniting bullish momentum.
On the downside, support at 43.20 is crucial to maintain, as a breakdown could lead to a deeper retracement, testing levels near 42.00. With over 433,290 ILV traded in the last 24 hours, the strong trading volume reflects heightened interest in this token. As a standout in the gaming ecosystem, ILV continues to draw attention amidst increased market activity.
Traders should remain vigilant, employing tight stop-losses and quick decision-making to capitalize on potential breakouts or reversals near these critical levels. $ILV is primed for its next significant move don’t miss the action!
#90kCryptoZone #BitcoinETFOptions
{spot}(ILVUSDT)
⚡️ Ozean has announced its partnership with the @Nexade_official RWA protocol
#Ozean joins forces with Nexade, an #RWA protocol that connects blockchain with trade finance. Under this collaboration, Nexade will integrate with Ozean to bring SME invoice financing to the Ozean ecosystem. This innovation follows Ozean's strategy to transition of TradFi capital on-chain, following the partnership with @Hex_Trust, @FinanceFlorence, and others. Ozean is a Layer 2 blockchain for RWA yield built by @ClearpoolFin $CPOOL, a DeFi credit and RWA lending protocol.
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