The recent price correction of Bitcoin after a historic peak continues to spark heated discussions in the crypto community. Traders analyze potential causes and consequences of the changing market situation.
Bitcoin Flirts with Peaks, Then Falls Sharply
The market was caught off guard when Bitcoin reached a record high of $124,500, but soon after the price dropped by over $10,000. Traders mention that key levels to watch are 112K and 120K. One trader, CrypNuevo, expressed concerns about possible 'coordinated market manipulation' that led to $1 billion in liquidations within 24 hours.
Signals on the Horizon: Fed, Volumes, and Manipulations
Several factors are influencing the current volatility, including the upcoming speech by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium. Given the uncertainty, potential changes in Fed policy could either encourage or limit investor appetite for risky assets. Additionally, a worrying sign is the decreasing trading volumes, raising concerns about the stability of the reached peak.
Crypto Market on the Edge: Trends and Predictions
Key levels for analysis include $124,500 as the last peak before the fall and $1 billion in liquidations. Considering the seven-week duration of Bitcoin's bullish trend, some experts like trader Peter Brandt predict that BTC could reach $280,000 by the end of the year if post-halving cycles repeat.
The correction of Bitcoin is driven by multiple factors and is part of a normal market cycle. The current situation requires careful monitoring and analysis of important signals that may influence the future state of the crypto market.
