[Analysis] "Bitcoin Correction Expected to End at $78,000 Level"

JOON HYOUNG LEE

Summary

Analysis suggests that Bitcoin price correction is likely to end at the $78,000 level.
If the price significantly deviates from this range, it could indicate entry into a downward cycle.
In an upward cycle, the correction should end at around minus 30% from the all-time high.

An analysis suggests that Bitcoin (BTC) price correction is likely to end at the $78,000 level.

Crypto Dan, a CryptoQuant contributor, stated on the 7th via X (formerly Twitter), "The Bitcoin correction period may last a bit longer," adding that "(however) generally, the correction is likely to conclude without significantly deviating from the current low of $78,000."

He noted, "If it significantly deviates from this range, we could suspect the worst-case scenario, which is entering a downward cycle." He continued, "If we're in an upward cycle, the correction should end around minus (-) 30% from the all-time high."

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