Bitcoin Set for $70K Retracement: Analysts Cite Macro Correction in Bull Market
Analysts suggest that Bitcoin’s potential decline to $70,000 may be a natural part of the current bull market cycle. This comes despite investor concerns about the possibility of an early bear market. Bitcoin’s significant dip, dropping over 14% recently to close around $80,708, has raised eyebrows. Investors were particularly disappointed by the absence of direct federal investments outlined in recent executive orders. Nonetheless, analysts believe cryptocurrencies are merely undergoing a macro correction, representing an opportunity within the ongoing bull market dynamics.