Bitcoin Faces "Chopsolidation" – Mild Correction Instead of Collapse?
Bitcoin has just slightly recovered from last weekend's low, rising 1.5% to about $112,692, but many experts warn that this recovery may not last due to increasing macro pressures.
According to #Decrypt , investors are concerned about the risk of a widespread "sell-off" as CTA (Commodity Trading Advisors) funds hold the highest stock buy positions in 4 years (110%). If the stock market experiences a strong profit-taking, Bitcoin – being a risky asset – will also face selling pressure.
Additionally, crypto options traders are betting on the possibility of a BTC correction, with target levels down to 100,000 or even 80,000 USD – equivalent to a 10%-30% drop in the next month.
However, some analysts do not believe Bitcoin will plunge deeply. Experts from CryptoQuant predict $BTC will fluctuate around the current range instead of breaking below $112,000, calling this a "chopsolidation" phase – a sideways market in the short term.
Moreover, expectations of the U.S. Federal Reserve (Fed) soon lowering interest rates are rising after the employment data for May-June was sharply revised down. According to the FedWatch tool, the chance of the Fed cutting rates by 25 basis points in September has risen to 81.7%.
In summary: The Bitcoin market may be temporarily stabilizing, but there are no signs of collapse. Patience and closely monitoring macro signals will be key for crypto investors at this time.
Warning: Investing in cryptocurrency carries significant risks and may not be suitable for everyone.