Key points:
-
Bitcoin is negotiated below his recent peaks of all time, the support of grilling at levels he met for the first time at the end of 2024.
-
A “deeper decline” can result before the bulls find the momentum to return to the discovery of prices.
-
Taking profit lies at the heart of the current resistance, says the analysis.
Bitcoin (BTC) risks a “deeper correction” because the next phase of its Haussier market faces a temporary reverse.
Bitcoin Profit causes an interruption of Bull Run
Analysis is the price warning of less than $ 100,000, because Cointelegraph Markets Pro and TradingView data show that BTC / USD has dropped by 8%.
Bitcoin returned below its former heights of all time on May 31, while the last correction approaches $ 9,000 below its last record peak.
After Bulls encountered the resistance of several sources, onchain’s indicators quickly started to plan for a slowdown in the bullish impetus.
In its latest research report sent to Cointelegraph, the onchain Cryptochant’s analysis platform saw that “some of the Bitcoin demand measures could reach a short-term summit, which could involve a break in the current rally.”
“”The estimate of cryptocurrency of the growth of Bitcoin demand in the last 30 days is at 229K, which is near the summit of the previous demand of 279k Bitcoin reached in December 2024, “wrote its authors.
“In addition, Bitcoin sales owned by whales increased by 2.8% in the last month, a pace that often precedes a slowdown in the accumulation of whales.”
Cryptochant added that unpaid profits were, on average, more than 30% at $ 111,000, also alluding to an imminent break.
BTC “Poll deeper” prices expected
As such, market players, while remaining bullish on the return to discovery of prices, always see lower levels coming first.
In relation: How much can the price of bitcoin?
“On the daily graphic, the BTC broke below the top of all time and faces a rejection at this same level,” wrote popular trader Mags in a part of its latest analysis X.
“It might look like a deeper correction.”
The mags focused on the next weekly brothel candle as a key test of the Bulls force, the price still able to resume the old record at $ 104,450 from December 2024 on weekly deadlines.
“If BTC closes under the support line and horizontal resistance on the weekly, we could see a deeper withdrawal perhaps forming a reversal head and shoulders before the next step,” he concluded.
The merchant and analyst Aksel Kibar agreed that the return of the Haussier market “could be delayed”.
“The upward interpretation is intact as long as the price is greater than 73.7K,” he told X subscribers on the monthly BTC / USD graphic.
Kibar has retained its goal halfway through $ 137,000, one in play throughout 2025.
Cryptoque, meanwhile, sees the prices stop earlier, with $ 120,000 on the radar as a key profit station.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
