Bitcoin’s Correction Echoes 2024 Pattern, Analysts Eye Potential Rebound

Recent Bitcoin price drops have sparked comparisons to a similar pattern observed in 2024. Analysts are closely watching on-chain data and macro indicators for clues about potential rebounds, with some anticipating an upside move towards the $112,000 mark. 2024’s setup saw Bitcoin surge after a November dip, achieving a 60% gain within 45 days. Now, similar price structures are emerging as traders analyze early November’s downtrend. Early signs suggest that Bitcoin may see similar upward acceleration in the coming weeks.