Bitcoin Dips But $200K Target Still in Sight?
After hitting a record high above $123K in July, #Bitcoin is now cooling off, trading near $114K down about 7.2% from its peak. Is this the start of a deeper drop, or just a setup for the next major rally?
According to analysts, this pullback is a technical correction, not a trend reversal. With strong on chain signals and rising stablecoin reserves on Binance, the market may be gearing up for a Q4 breakout.
BTC has historically rallied in Q4. If the pattern repeats, we could see a surge toward $200K says analyst Oinonen.
But not everyone’s bullish. A negative shift in the Coinbase Premium Index hints at weak U.S. investor demand a red flag for some traders.
Key Takeaway Bitcoin’s current price action is all about discovery, patience, and positioning. Smart money is watching, are you?
DYOR
