Bitcoin May Correct to $96,700: Analysts Expect a Pullback
Date: 2025-06-04 Author: Henry Casey Categories: CRYPTO PAYMENTS
According to analysts at CryptoQuant, the current market movement indicates the possibility of a correction. The lack of extreme optimism on the fear and greed index suggests that there was no pronounced FOMO phase — panic buying characteristic of the final stage of a bull run — during the recent rise to historical highs.
Experts believe that if Bitcoin continues to decline, this will affect other digital assets — primarily Ethereum and other altcoins. The reason is simple: a correction in the first cryptocurrency can draw liquidity from the rest of the market.
Analysts recommend that investors refrain from active actions for now and wait for the end of the correction to consider opening new positions at more favorable levels later.
Bitcoin Magazine shares a similar opinion. Their analysts drew attention to the rate rollback below an important resistance level - in the area of the December 2024 - January 2025 highs, around $106,000. To restore the upward movement, Bitcoin needs to overcome this value, they emphasized.
Meanwhile, analyst Rachel Lucas from BTC Markets said that keeping the price within $103,000-105,000 could become the basis for a new growth impulse to $115,000. However, this scenario is possible only if the market stabilizes in the coming days.
Earlier, Coinbase analysts indicated that the upcoming payments to FTX creditors in the amount of $5 billion could have a positive impact on the market and support demand for digital assets. This event is seen as a potential catalyst for restoring interest in cryptocurrencies.
Bernstein also noted that one of the main drivers of growth is the activity of institutional investors, which remains at a high level and forms long-term support for the market.
Thus, despite a possible short-term pullback, fundamental factors still point to favorable prospects for Bitcoin in the medium and long term.
