Bitcoin, 10% correction from peak…"Local pullback rather than structural risk"

Minseung Kang

Summary

Bitcoin (BTC) has recently entered a short-term correction phase after falling about 10~11% from its peak.
The analyst assessed that this decline is closer to an 'intermediate pullback' within an expansion phase rather than a structural risk.
He assessed that with institutional demand and spot ETF supporting the market, adjustments of around 10~20% are likely to repeat.

Bitcoin (BTC) has recently fallen about 10~11% from its previous all-time high ($124,000) on Binance and is undergoing a short-term correction.

On the 26th, ArabChain, an analyst at crypto asset (cryptocurrency) analysis platform CryptoQuant, said in a QuickTake report, "This correction is closer in nature to an 'intermediate pullback' that appears within an expansion phase, rather than a pattern that leads to a sharp drop after a surge like in 2021." He explained that unlike past bear markets that saw 70~80% crashes, this decline is relatively shallow.

The analyst said, "Unless Bitcoin falls more than 15% from the peak and clearly breaks the $109,000~$110,000 support, the current trend is only a correction," and diagnosed, "There is a high possibility of retesting the $118,000~$122,000 range."

Regarding market structure, he pointed out that this cycle is different from the 2017 retail investor-led phase or the rapid surge and crash of 2021. He explained that with institutional demand and spot ETF supporting the market, adjustments of around 10~20% repeat depending on derivatives positions and funding pressure.

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