{"id":31230,"date":"2024-12-26T08:56:35","date_gmt":"2024-12-26T08:56:35","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31230"},"modified":"2024-12-26T08:56:35","modified_gmt":"2024-12-26T08:56:35","slug":"heres-why-bitcoin-btc-might-experience-another-correction-soon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31230","title":{"rendered":"Here\u2019s Why Bitcoin (BTC) Might Experience Another Correction Soon"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Bitcoin dropped below $96,000 after $3.2 billion worth of BTC was sent to exchanges, signaling potential sell-offs and increased price pressure.
\nDespite the dip, analysts predict a rebound, with targets ranging from $110K this year to over $320K in 2025.<\/p>\n

<\/a><\/span><\/h2>\n

Heading South Again?<\/h2>\n

Bitcoin (BTC) became the talk of the town in mid-December, reaching a new all-time price of over $108,000. However, the Federal Reserve\u2019s latest FOMC meeting and, more specifically, Jerome Powell\u2019s comments changed the scene in the crypto market.<\/span><\/p>\n

While the Chairman of America\u2019s central bank <\/span>announced<\/span><\/a> another rate cut of 0.25%, he hinted that concerns of rising inflation mean that they might not cut rates going forward in 2025<\/span>. Powell added that the Fed <\/span>is not allowed to<\/span> hold BTC, casting doubt on Trump\u2019s proposed plan to establish a strategic BTC reserve.<\/span><\/p>\n

The disclosure occurred on December 18, with the primary cryptocurrency experiencing enhanced volatility in the following week. The price hovered between $92,600 to almost $100,000. In the past several hours, BTC fell by 2% to its current $95,600 (per CoinGecko\u2019s data), and one <\/span>important<\/span> factor indicates that the plunge could intensify <\/span>in the near future<\/span>.<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

The popular X user Ali Martinez <\/span>revealed<\/span><\/a> that over 33,000 BTC (valued at approximately $3.2 billion) have <\/span>been sent<\/span> to exchanges in the last seven days. This move suggests that investors may be preparing to offload their holdings. Large sell-offs would result in increased circulating supply, which, combined with non-rising demand, could negatively impact the BTC price.\u00a0<\/span><\/p>\n

Martinez previously outlined<\/a> $97,300 as a critical support zone for the asset due to the numerous investors who had bought roughly 1.5 million BTC there. As mentioned earlier, though, the price plunged below that level.<\/span><\/p>\n

The Opposite Scenario<\/span><\/h2>\n

Contrary to the <\/span>aforementioned<\/span> assumption<\/span>, many analysts remain optimistic that the asset\u2019s valuation could soon rally beyond $100,000 again. X user Captain Faibik <\/span>envisioned<\/span><\/a> a rise to around $110K by the end of the year, while Crypto Rover <\/span>believes<\/span><\/a> BTC \u201cis about to go parabolic\u201d next year.\u00a0<\/span><\/p>\n

Jelle and Mags are also among the bulls. The former <\/span>predicted<\/span><\/a> a new ATH once BTC reclaims $102,000, while the latter thinks the bull cycle is still far from reaching its peak. Mags <\/span>forecasted<\/span><\/a> a jump to over $320K sometime in 2025, after which bears might take control.\u00a0<\/span><\/p>\n

For more insights into price predictions and to check whether now is the ideal time to invest in BTC, watch our dedicated video below:<\/span><\/p>\n\n

<\/div>\n

The post Here\u2019s Why Bitcoin (BTC) Might Experience Another Correction Soon<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Bitcoin dropped below $96,000 after $3.2 billion worth of BTC was sent to exchanges, signaling potential sell-offs and increased price pressure. Despite the dip, analysts predict a rebound, with targets ranging from $110K this year to over $320K in 2025. Heading South Again? Bitcoin (BTC) became the talk of the town in mid-December, reaching […]<\/p>\n","protected":false},"author":0,"featured_media":31231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31230"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31230"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31231"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}