A correction in Bitcoin’s (BTC) price appears imminent this December, with projections pointing to a drop from $101,000 to $77,000. Technical indicators, such as overbought conditions on the RSI and diminishing momentum in key bullish patterns, suggest that the current rally might be due for a retracement.
Additionally, historical market data shows that after reaching significant psychological price levels, BTC often experiences sharp corrections as traders take profits. This potential pullback could be further influenced by macroeconomic factors, such as tightening monetary policies or liquidity concerns, which could reduce buying pressure in the short term.
While the overall market sentiment remains bullish, this correction would allow for consolidation around a key support zone, offering a healthier base for the next upward movement. Investors should remain vigilant, manage risk carefully, and prepare for heightened volatility in the coming weeks.