Bitcoin is entering another phase of correction and, at the time of writing, according to TradingView, is trading at approximately $101,602. After breaking through a strong support zone between $103,000 and $106,000, market attention is shifting lower into the $99,000 to $93,000 range. A new local low has already formed in this area at $98,900, which lies at the upper boundary of the current support. Increased trading volumes in this zone suggest that traders see attractive entry levels here, which could lead to temporary price stabilization.

Bitcoin drops again below key levels

Although the market is reacting relatively quickly, it is still uncertain whether this low will be definitive. Bitcoin is known for its cyclicality and sharp fluctuations that often surprise even experienced investors. The current correction of 19.20% is considered relatively normal by experts and does not pose a significant threat to the overall trend.

The current Bitcoin cycle, which began at the end of 2022, has been marked by unprecedented stability. Since its beginning, we have seen only two major corrections around 32%, which is significantly less compared to previous periods. This indicates that the Bitcoin market is gradually maturing and volatility is decreasing.

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Has the cycle peak already arrived?

The current decline coincides with a period when Bitcoin reached its peak in previous cycles. According to data from BitcoinCyclesComparison, approximately 500 days after the halving, similar dynamics have always been observed — a sharp rise followed by a correction before the onset of a bear market. Some analysts therefore believe that the price of $126,200 may have represented the final top of this four-year cycle.

However, it is still too early to draw conclusions. Long-term holders continue to accumulate, which reduces selling pressure. High trading volumes and on-chain activity suggest that the market is preparing for stabilization and a potential rebound.

Whether this current correction will turn out to be a normal market pause or the start of a longer decline, only time will tell. One thing is certain – Bitcoin continues to reflect the overall sentiment of the crypto market.