Crypto:
32778
Bitcoin:
$101.279
% 0.07
BTC Dominance:
%55.2
% 0.30
Market Cap:
$3.64 T
% 1.06
Fear & Greed:
76 / 100
Bitcoin:
$ 101.279
BTC Dominance:
% 55.2
Market Cap:
$3.64 T

Is Bitcoin’s $93K Dip the Last Flush?

Adsiz Tasarim 16

Bitcoin continues to capture the attention of both investors and analysts in the crypto space. Recent price movements have intensified speculation about the asset’s next move. As the year-end approaches, expectations for $100,000 remain strong, but some volatility persists along the way.

On November 22, Bitcoin reached an all-time high of $99,645, followed by a 7% correction that brought it down to $92,775. Although short-lived, this dip drew attention. Now trading at $94,600, analysts suggest this could be a healthy consolidation phase for Bitcoin.

Markus Thielen, CEO of 10x Research, stated, “Bitcoin is in a consolidation phase ahead of Thanksgiving. This process is critical to balance its overbought conditions.” He also noted that the Federal Reserve’s December interest rate decision could impact the market, but it would not alter the long-term bullish outlook.

BTC Markets analyst Charlie Sherry linked this dip to Bitcoin’s historical bull market patterns. Sherry remarked, “This correction is an opportunity for the market to consolidate gains and reduce leverage.” He suggested this movement could precede a major rally.

According to Polymarket data, Bitcoin has a 72% probability of surpassing $100,000 by the end of the year. Experts agree that this milestone is achievable, though short-term obstacles may arise.

CK Zheng, co-founder of ZX Squared Capital, echoed this optimism. Zheng stated, “This psychological resistance may lead some investors to take profits, but in the bigger picture, Bitcoin is likely to cross this threshold in a few months.”


You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

Rate this post
READ:  Truth Terminal Founder’s X Account Hacked

Leave a Reply

Your email address will not be published. Required fields are marked *