Bitcoin Faces Critical Juncture: Deeper Corrections or Macro Support?
Bitcoin (BTC) has corrected nearly 8% from its all-time high, sparking debate about further declines. Technical indicators like the rising wedge and potential double top patterns suggest a move below $100,000. Whale addresses holding substantial BTC have also decreased, indicating profit-taking.
However, contrasting macroeconomic factors, such as a potential Fed rate cut and growing global money supply (M2), could counterbalance these bearish signals and support a sustained uptrend, with some analysts projecting targets between $132,000 and $170,000.