Bitcoin Needs a Deeper Correction for Bullish Base Building, Analysts Say

A significant correction in Bitcoin’s price is being called for by analysts as it navigates volatile market conditions. CryptoQuant suggests that without such a drop towards the $75K support level, Bitcoin risks a further decline before potentially resuming a stronger uptrend. 80% of altcoins on Binance trade below their 200-day moving average, reflecting past accumulation patterns that preceded significant rallies in previous years. 90% of all Binance-listed altcoins currently trade below this level. This suggests a potential period of accumulation. A shift from bullish to bearish regimes has been identified in Bitcoin’s market metrics, suggesting instability and the potential for further price fluctuations before a new phase emerges.