Bitcoin Correction: Market Selling Pressure Pushes Prices Down

Bitcoin experienced a notable correction, dropping 8% amid broader market selling pressure. Key price levels, such as $106,000 and $101,000, act as crucial indicators of market sentiment. Leading analysts like Michaël van de Poppe believe reclaiming $106,000 is essential for Bitcoin to resume its upward movement. He warns that prolonged weakness could push prices below $101,000, potentially ending this correction phase.