According to market experts, Bitcoin’s current uptrend could demonstrate remarkable resilience even in the face of significant price corrections. CryptoQuant CEO Ki Young Ju suggests that the crypto market could maintain its upward trajectory despite potential price declines of up to 30% from record levels.
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Bullish trend would survive correction to $77,000
Despite the recent sideways trend in Bitcoin and its difficulties in breaking the $100,000 barrier, the underlying market indicators paint a picture of sustained strength. Ki Young Ju indicates that the cryptocurrency could withstand a substantial correction to $77,000 while maintaining its bullish momentum. This projection is particularly significant, as it would keep Bitcoin well above the all-time highs of its previous cycle, suggesting a fundamental shift in market dynamics.
Current levels of market support reinforce confidence in this assessment. US investors in spot Bitcoin ETFs have established a crucial cost base around $89,000, which has served as support since November. This institutional presence represents a new factor in the structure of the Bitcoin market, potentially offering more stability than in previous cycles.
Strategic price levels and future prospects
Structural health of the market is demonstrated by multiple strategic price levels which could act as safety nets in the event of a potential downturn. Bitcoin mining companies are confronted with thresholds of profitability around $57,000.
The future evolution of the Bitcoin price will probably be influenced by a combination of institutional involvement, economic context and broader market cycles. While corrections are an expected part of any market’s evolution, the current structure suggests a more mature and resilient Bitcoin market, capable of maintaining its bullish structure even in the face of major dumps.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
