FameEX Hot Topics | Bitcoin Analysts Label Recent $93K Dip as the ‘Final Flush’ Before the Surge

Crypto market analysts remain confident that Bitcoin will surpass $100,000 by the end of the year, despite a recent 7% correction. Bitcoin experienced a pullback from its all-time high of $99,645 on November 22, dipping to an intraday low of $92,775 on November 26. However, the asset quickly recovered, trading around $94,600 at the time of writing, and analysts are still optimistic about its future trajectory.

According to Markus Thielen, founder and CEO of 10x Research, the recent correction is expected to be short-lived. He believes Bitcoin is currently consolidating ahead of the Thanksgiving weekend, with traders anticipating a decline in implied volatility. Thielen noted that Bitcoin historically tends to weaken toward the end of the month, helping to ease its overbought technical condition.

Despite short-term headwinds, such as potential market impacts from macroeconomic factors, Thielen remains bullish. He pointed to strong economic growth data and the possibility of the Federal Reserve holding interest rates steady in December as factors that could influence high-risk assets. Thielen maintained his confidence that Bitcoin will reach the six-figure mark in the coming weeks, with a continued bullish outlook for 2025.

This sentiment was echoed by prominent trader and analyst ‘Bluntz,’ who shared with his 298,000 followers on X that he believes Bitcoin is heading upward and will not drop as low as some expect. His optimistic outlook further supports the belief that Bitcoin’s recent dip is a temporary phase.

Charlie Sherry, head of finance and crypto analyst at BTC Markets, also weighed in on the correction. He stated that Bitcoin’s drop to $93,000 aligns with its historical pattern of sharp gains followed by healthy corrections. These pullbacks, he explained, help the market consolidate gains and reduce leverage before advancing further.

Sherry suggested that this recent dip could be the "last flush" before Bitcoin hits the $100,000 mark. However, he cautioned that if the pullback deepens, Bitcoin could test key support levels between $88,000 and $90,000. A deeper correction of 20% to 30% could potentially take Bitcoin closer to $80,000, a level consistent with prior bull market behavior. Despite these potential risks, analysts remain optimistic, with many confident that Bitcoin’s long-term trajectory remains bullish and that the asset is poised to hit six figures soon.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.