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Bitcoin Price Forecast: BTC corrects as increased profit-taking offsets positive market sentiment
04/24/2025 10:00:42 GMT
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By
Manish Chhetri
Bitcoin Price Forecast: BTC corrects as increased profit-taking offsets positive market sentiment
Bitcoin price faces a slight correction on Thursday after rallying 8.55% so far this week.
US Bitcoin spot ETFs recorded an inflow of $916.91 million on Wednesday, its third straight day of inflows.
Risk-on sentiment prevails as the Trump administration softens its tone on the Federal Reserve and trade tensions with China.
The technical outlook suggests the pullback could be mild, with a rally toward $97,000 still on the cards.
Bitcoin (BTC) is facing a slight correction, trading around $92,000 at the time of writing on Thursday, after rallying 8.55% so far this week. Despite the mild correction, institutional demand remained strong, as US spot Exchange Traded Funds (ETFs) recorded an inflow of $916.91 million on Wednesday, marking three consecutive days of gains. Moreover, the risk-on sentiment prevails as US President Donald Trump’s administration appears to be softening its tone on the US Federal Reserve (Fed) and trade tensions with China.
