Analysis of what is happening in the market to date 🚨
🐟The cryptocurrency market is currently experiencing a slight decline after a strong upward wave, indicating a potential entry into a normal correction phase. This comes amid varying expectations from analysts regarding the future direction of cryptocurrencies, especially Bitcoin.
Indicators of correction: 💹💲📌
🐟Decline in cryptocurrency prices: Bitcoin has seen a slight decrease of 0.1% to record around $103,927, while Ethereum dropped by 1.9% to $2,503.60.
🐟Technical analysis: If Bitcoin fails to maintain the support level of $102,000, it may see a deeper correction towards $100,021.79 and then $97,534.25 before any return to upward movement.
🐋Expected scenarios for Bitcoin's path (according to CryptoQuant):
Positive scenario: ✅💵📈
🐟If the momentum index rises above 1.0, Bitcoin's price could reach $175,000 within the next six months.
Neutral scenario: 💰💰
If momentum stabilizes around 1.0, Bitcoin prices may range between $90,000 and $110,000.
Negative scenario: 😵🚨❌
If the momentum index falls below 0.75, we may witness a downward correction wave towards levels of $70,000 - $85,000.
Influencing factors: 💰📈🚨
🐟Institutional investment: The entry of major institutions like "Goldman Sachs" into the market boosts confidence, after their investment of $1.65 billion in Bitcoin funds.
🐟Global regulations and policies: Upcoming regulatory changes may directly affect market stability and volatility.
Summary: 📌✅💰
The market is currently experiencing a correction after a strong upward wave. This situation is normal within the market cycle. It is important to monitor technical indicators and price momentum to make informed investment decisions.$SUI
