Analyst Predicts Bitcoin Could Face a 25% Correction

Bitcoin's price, which was approaching the highly anticipated $100,000 mark, has unexpectedly dropped to $90,000, leaving investors uneasy and questioning whether a deeper decline is on the horizon.

While market corrections are often seen as routine, analysts suggest this downturn may persist as Bitcoin’s recent rally cools off.

Joe Consorti, a popular market analyst, has highlighted Bitcoin’s historical alignment with the Global M2 money supply. He predicts that if this trend holds, Bitcoin’s value could dip further, potentially reaching the $75,000 to $80,000 range.

UPDATE: One day after my last chart, bitcoin is now $5,000 lower, following the path set by global M2 several weeks ago very closely.

So far, this correlation is shockingly accurate.

We’ll have to see if BTC follows it all the way down, or stops short & finds support.

🍿🍿🍿 pic.twitter.com/oEGOuYYRio

— Joe Consorti ⚡️ (@JoeConsorti) November 26, 2024

According to Consorti, Bitcoin’s price movements since September 2023 have mirrored the Global M2 supply with a delay of about 70 days, suggesting that the current correction is consistent with global liquidity trends.

READ MORE:

Bitcoin Still on Track for $100K, but Key Challenge Lies Ahead

Consorti emphasized the reliability of this correlation in recent months but left open the possibility of deviation, stating that it remains uncertain whether Bitcoin will fully follow the predicted bearish trajectory or find support sooner.

In a recent analysis, he warned that if this pattern continues, Bitcoin could face a correction of 20-25%, signaling a potentially turbulent period ahead for the market.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.