Bitcoin Correction: Where Will BTC Price Bottom?

Following an all-time high above $125,000, Bitcoin’s price experienced a correction on Sunday, dropping below the crucial $123,000 mark. This move comes as traders anticipate potential bounces and weigh institutional interest in the market. 4% price drops are possible, as per analysts, with several traders suggesting a potential retest of the 50-period EMA at around $118,000. Skew predicts an upward trend even amidst this correction, while CrypNuevo believes a new bullish phase is likely after a potential retest.