The crypto market was jolted as Bitcoin (BTC) fell precipitously from $108,000 to $96,000 in 48 hours, triggering extensive panic-selling. However, experts contend that this decline is just a healthy consolidation within the bull run and not the conclusion of the run altogether. Here, one analyst breaks it down based on his perspective on the big picture.
Last Crypto Bull Run?
First, he mentions that Bitcoin has seen a 10% drop following an impressive 54% surge over 40 days, which many view as a normal correction. According to past trends, such dips usually lead to even greater gains in the future. The bull market structure is still firm, with key support levels at $73,000 and the 21 EMA at $79,000 on a weekly basis.
Federal Reserve pronouncements further added fuel to the fire of market anxiety. Some saw the comments made by Federal Reserve Chair Jerome Powell—that the central bank cannot own Bitcoin’s Drop Healthy—as a sign of gloom. As a whole, the American economy is holding its own, with inflation just above the FED’s objective of 2.75 percent and the jobless rate falling to 4.1 percent.
Another crypto surge could ignite in the near future due to the Fed’s moderate approach to rate decreases and the slowdown of quantitative tightening (QT). Bitcoin is expected to stabilize around its present levels, and many predict a huge price spike once QE is resumed.
Crypto Bull Run Far From Over
New traders are considering selling or holding altcoins, which have recently dropped due to their extreme volatility—Bitcoin’s Drop Healthy. However, experienced traders are still buying. In this time of unpredictability, investors should stick to high-conviction ventures and avoid leverage.
The analyst stresses the need to remain patient as the market recovers. According to historical tendencies, gains are most substantial during times of uncertainty. Important Federal Reserve meetings are set to take place in early 2025. This means that policy adjustments could coincide with the next significant shift in the cryptocurrency market. Finally, he emphasizes that the bull run is still going strong—it’s simply taking a short break at the moment.
Summary
Experts see the latest decline in Bitcoin from $108K to $96K. This is a typical correction in the current bull run despite the fact that it caused panic selling. The level of support is still high, and historical patterns point to future gains. In spite of worries about the Federal Reserve’s position, the American economy is doing well. Proficient traders are purchasing, and the bull market is anticipated to persist. With the possibility of a spike in 2025 if the Fed modifies its policy.
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