BTC rally delayed as analysts warn of deeper market correction
Bitcoin profit-taking delays bullish rally
Analysts warn that Bitcoin's bull run may be delayed as the asset struggles to defend its previous all-time highs from December 2024.
The recent weekly close at $104.5K sparked concerns about a "deeper pullback." The analysis shows that current resistance is mainly due to profit-taking, putting BTC at risk of further correction before bulls regain momentum.
Data from Cointelegraph Markets Pro and TradingView indicate a possible 8% drop in BTC/USD, pushing the price below $100,000.
In its latest research note to Cointelegraph, on-chain analytics platform CryptoQuant noted that some Bitcoin demand metrics may be peaking, suggesting a pause in the rally.
“CryptoQuant's 30-day demand growth estimate for Bitcoin is 229K — close to the previous peak of 279K BTC in December 2024,” the analysts wrote.
Additionally, whale-held BTC reserves increased by 2.8% in the past month — a metric that typically precedes a slowdown in whale accumulation.
CryptoQuant also highlighted that unrealized profit is averaging over 30% at the $111K level, which often signals a temporary price pause.
Will BTC price see a deeper correction?
While sentiment remains bullish long-term, many traders expect lower levels before upward momentum resumes.
"On the daily chart, BTC broke its previous ATH but is now retracing... It may be the beginning of a deeper correction," trader Mags posted on X.
Loading...
Still, on the weekly chart, BTC remains above its previous ATH — possibly indicating a wick or retest.
Trader and analyst Aksel Kibar also warned the bull market could be delayed.
Loading...
He believes bullish conditions remain valid above $73,700 and forecasts a potential BTC target of $137,000 in 2025. CryptoQuant, however, sees $120,000 as a major profit-taking threshold.
As we wrote, Bitcoin price bearish momentum grows as third day of losses weighs on buyers
