"Bitcoin retreats to the $105,000 level… Is this a healthy correction?"

Bitcoin (BTC) has retraced to the $105,000 level, drawing market attention as participants wonder whether this is a 'healthy pause' or a turning point that could lead to further declines.

According to cryptocurrency-focused media outlet Cointelegraph on the 30th (local time), Nick Foster, the founder of the on-chain options protocol Derive, said, "Bitcoin appears to have entered a correction phase after briefly surpassing $111,000 recently," but also diagnosed, "This is not a short-term downturn, but rather a healthy resting period where the market digests gains and resets."

On the other hand, conflicting decisions by US courts regarding tariff policy are also heightening market uncertainty. Foster assessed, "After the US District Court on the 28th (local time) ruled that President Trump's tariff-imposing authority was excessive, the Court of Appeals temporarily allowed the enforcement of Trump's tariffs on the 29th (local time), resulting in mixed signals for the market."

He analyzed, "Traditionally, Q3 has been seen as a bearish phase, but this year, with positive drivers including entry into institutional channels, regulatory shifts, and inflows of institutions, there is the potential for exceptional movement." He further projected, "The next Fed benchmark interest rate decision, set for June 18, could serve as a key turning point for the market."

Bitcoin, after hitting an all-time high of $111,980 on the 22nd of this month, has undergone a correction and is trading at around $104,900 as of today. The 30-day rate of increase was recorded at 11.72%.