Finally, the Bitcoin (BTC) correction appears to have arrived. After days close to the US$100,000 mark, the world’s largest cryptocurrency fell sharply this Tuesday (26), returning to the level of US$91,400, leaving the question for investors: will the upward rally of Bitcoin is over?
At around 1:30 pm (Brasília time) this Tuesday, Bitcoin registered a drop of 1.7% in the accumulated 24 hours, quoted at US$ 94,355.33, according to data from CoinGeckoafter falling more than 5% in the morning. The negative movement is widespread in the market, with Ethereum (ETH) falling 4.5%, to US$ 3,334.63, while Solana (SOL) falls 4.2%, to US$ 231.89.
According to Paula Reis, partner analyst at Gravelas Bitcoin approached US$100,000, the chance of a correction also increased. “This is because the price does not move in a straight line, there is a zigzag in the market and it is even possible for it to correct up to US$86 thousand”, he states.
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She points out, however, that today’s pullback does not mean that Bitcoin is now on a downward trend, but that it is undergoing a “healthy and technical” correction in which investors pocket recent profits and adjust their positions to, perhaps, return to buy more.
“So, this could be an opportunity for outsiders to buy at these levels of US$ 91 thousand and US$ 86 thousand”, says Reis, evaluating that Bitcoin should reach US$ 120 thousand before the current bull cycle ends .
Beto Fernandes, analyst at Foxbitalso sees the current drop as natural: “There were four consecutive weeks of increases. At some point the market was going to turn part of this rise into money, taking profits. Now, demand will heat up again for us to see more gains.”
The downward movement began over the weekend and can also be proven by the performance of spot Bitcoin ETFs traded in the United States, which registered net outflows of US$438.4 million yesterday, marking the first negative day after five days followed by net inflows, which, together, injected US$3.4 billion into the market, according to data from the platform SosoValue.
