Bitcoin Correction in a Bull Market

While sharp corrections in Bitcoin and altcoins have increased speculation about an early bear market, analysts affirm this decline is typical.

Last week, Bitcoin’s price dropped over 14% following U.S. President Donald Trump’s executive order on March 7. Analysts argue that such declines are normal and healthy in a bull market.

They refer to this as a “macro correction” within the ongoing bull market, predicting that the price could reach up to $70,000.

Nansen analyst Aurelie Barthere highlighted the next key support level as $71,000-$72,000, with wider market concerns, such as tariff uncertainties and recession fears, impacting investor sentiment.

Barthere expressed:
> “This is a macro correction that is happening. So we should not worry. The next level will be $71,000-$72,000, which is the top of the pre-election trading range.
> We are still in a bull market, just currently in a correction.
> Stocks and cryptocurrencies are pricing in a period of tariff uncertainty and fiscal cuts without the Fed’s bullish contribution. Recession fears are emerging and a correction is underway.”

Nexo analyst Iliya Kalchev suggested that BTC may dip below $70,000 but could establish a stronger base for future rallies.

BitMEX co-founder Arthur Hayes stated that Bitcoin is likely to bottom at $70,000, advising, “Be patient. BTC will probably bottom around $70,000. A 36% correction from the $110,000 ATH is very normal for a bull market.”

*This is not investment advice.