• Bitcoin price continues its corrective plunge leading many to panic-sell. 
• One analyst shares a detailed post reminding traders of the bigger picture. 
• He concludes saying that the bull run is not over, just taking a breather.

The crypto market has been rattled as Bitcoin (BTC) plunged from $108,000 to $96,000 within 48 hours, leading to widespread panic-selling. However, analysts argue that this dip is not the end of the bull run but rather a healthy consolidation within an ongoing upward trend. To break it down, one analyst shares his thoughts on what remains important.

End of the Crypto Bull Run?

To begin, he states that Bitcoin has experienced a 10% decline after a remarkable 54% rally over 40 days, a move many see as a natural correction. Historical patterns suggest that such pullbacks often pave the way for new highs. Key support levels remain intact, with the weekly 21 EMA at $79,000 and the daily 200 EMA at $73,000, indicating the bull market structure is still solid.

Furthermore, market jitters were exacerbated by Federal Reserve announcements. While FED Chair Jerome Powell stated that the FED is not allowed to hold Bitcoin, many took this as a bearish point of view. Meanwhile, the U.S. economy continues to show resilience, with unemployment dropping to 4.1% and inflation at 2.75%, slightly above the FED’s target.

The FED’s gradual approach to rate cuts and slowing of quantitative tightening (QT) suggests that stability will return in the near future, potentially igniting another crypto rally. Analysts expect Bitcoin to consolidate around current levels, with the next major price surge anticipated once QE resumes.

Crypto Bull Run Far From Over

Altcoins, however, remain highly volatile, experiencing steeper declines than Bitcoin during the recent correction, leading new traders to contemplate selling or holding while seasoned traders continue to accumulate. Investors are advised to focus on high-conviction projects and avoid leverage during this period of uncertainty.

The analyst concludes by saying that while the market stabilizes, patience is key. Historical trends show the biggest gains come during uncertain times like these. With key Federal Reserve meetings scheduled for early 2025, the crypto market’s next big move could align with policy changes. Lastly, he says that for now, the bull run isn’t over—it’s just taking a breather.

The post Is the Crypto Market Bull Run Over or Is Bitcoin Preparing for an Exceptional Bullish Come Back? appeared first on Crypto News Land.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed