The cryptocurrency market experienced a significant downturn, with altcoins like Tron, Avalanche, Polkadot, Internet Computer, Polygon, Filecoin, and Celestia seeing notable losses. This sell-off follows Bitcoin's climb to $100,000, and analysts believe it was expected due to overbought conditions in the market. Short-term holders appear to be taking profits, driving the altcoin downturn. However, analysts expect a swift rebound as retail traders react with fear and sell off their holdings, creating buying opportunities for large-scale investors. The current RSI levels for Bitcoin suggest a potential price resurgence, stabilizing above $100,000. Market conditions are expected to stabilize, and analysts are optimistic about the recovery potential of altcoins as sentiment improves. This correction is seen as essential for long-term market health and sustainable growth.



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