Recent data suggests that the latest Bitcoin crash is likely a natural correction rather than the start of a major downtrend. Glassnode's analysis shows that the extent of realized losses in this correction is significantly lower compared to previous downturns. Losses are now spreading to investors who have held Bitcoin for 3 to 6 months, but holders in the 6 to 12-month range are showing resilience and actively distributing at a profit. This suggests that the market correction is normal rather than a major downtrend. Long-term holders have already distributed a significant amount of BTC when prices surged past $60,000, but the intense selling has now cooled off. Market experts predict that Bitcoin may retest previous lows or form a double-bottom pattern before bouncing higher. Short-term price action is expected to remain choppy, with a potential range between $94,000 and $99,000 on the high end and just under $74,000 on the lower end. Lastly, there is a divergence between Bitcoin, the S&P 500, and gold, with Bitcoin and the stock market facing corrections while gold remains bullish. Bitcoin could potentially decline to the $72,000 to $74,000 range before finding a bottom.



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