Summary
- Some analysts reported that Bitcoin experienced a decline due to the recent mass sell-off of 80,000 BTC.
- Analysts stated that a short-term bottom may be established as the heavy selling pressure has subsided.
- John Glover projected that Bitcoin could rise to $132,000 following a short-term correction.
Bitcoin (BTC) is projected to rebound to $132,000 after undergoing a short-term correction.
On the 26th (local time), CoinDesk reported that "some analysts believe that the recent decline coincided with the timing of a whale selling 80,000 BTC (worth about $9 billion) through Galaxy Digital."
Analysts expect that with the large-scale selling pressure having eased, a short-term bottom will be established, after which the price will move toward a new high. John Glover, Chief Investment Officer at Ledn, cited Elliott Wave Analysis and stated, "Bitcoin may form a short-term bottom over the weekend before heading toward a new record high, and after that, it could rise to $132,000."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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