Bitcoin experiences a strong correction, but could Q4 be a breakthrough time?
Bitcoin is undergoing a correction after reaching a historic peak of 123,300 USD on July 14. According to a new report from CryptoQuant, this is the third major profit-taking wave by 'whales' since mid-2024, combined with selling activity from miners – reaching around 15,000 $BTC right after the peak.
Large institutions seem to be actively reducing risk, forecasting that Q3 could be quite volatile. Options market data shows that investors are heavily buying put options at price levels of 80,000 - 100,000 USD, indicating they expect prices to correct by 10–30% from now until September.
However, some experts still maintain a positive outlook. Charles Edwards from Capriole fund believes #bitcoin is currently 'undervalued' based on mining energy models. Meanwhile, CryptoQuant believes that after the correction phase, there is a new accumulation opportunity, aiming for a strong rally in Q4 – a period that historically provides the highest average returns, up to 52%.
Despite short-term pressures, the long-term trend of Bitcoin is still viewed positively, especially as large investors prepare to return to the market with a 'buy the dip' mentality.