Bitcoin’s Price Plunges: Elliott Wave Analysis Indicates Deeper Correction Ahead

Recent analysis suggests that Bitcoin may experience a deeper correction in line with Elliott Wave theory. A confluence of fear-driven sentiment and the historical precedent of extreme fear at market bottoms adds to the potential for volatility. The Fear & Greed Index currently sits at ‘Neutral,’ aligning with the ongoing market correction. While it’s too early to declare a bottom, the analysis highlights the possibility of wave 4 corrections driving prices lower before a reversal.