Bitcoin traders are currently focusing on the possibility of the cryptocurrency reaching the $100,000 threshold. This interest is driven by its price sustaining above $90,000 during weekly closures. However, analysts observe that recent on-chain data points to the likelihood of a near-term price correction.
Experts suggest that a price correction of around 10-15% could take Bitcoin down to $76,000 before any substantial upward movement toward $100,000 might resume. This caution stems from analysis of on-chain indicators.
The potential correction presents both a challenge and an opportunity for traders. While some may view it as a setback, others see it as a strategic entry point. The crypto market often experiences such fluctuations, making timing and strategy essential.
