Expert Predicts Bitcoin Correction to $95,000

Analyst and MN Trading founder Michaël van de Poppe has suggested a potential correction in Bitcoin’s price to $95,000-97,000, with a subsequent recovery expected.

I wouldn’t be surprised to see a correction towards $95-97K on $BTC.

Taking liquidity and continuing the upside from there. pic.twitter.com/WTwOMxm69j

— Michaël van de Poppe (@CryptoMichNL) January 23, 2025

QCP Capital believes that until the Fed meeting on January 29, the market will remain within the recent range.

Asia Colour — 23 Jan 25

1/ The market grinds lower as uncertainty reigns. Even after the SEC launched a Crypto Regulatory Task Force, #BTC has fallen below $106K, now teetering at $102K.

— QCP (@QCPgroup) January 23, 2025

Experts noted that investors are hoping for greater clarity on how the latest inflation data will influence monetary authorities’ decisions.

They do not expect significant catalysts to emerge before this event.

Analysts highlighted a growing interest in options expiring in January with a strike price of $95,000.

The trigger for a wave of hedging was the weakening upward momentum during the US session the day before, contrasting with bullish sentiment in Asia and Europe.

Against this backdrop, Bitcoin fell from $106,000 to $102,000. News of the creation of a crypto regulatory task force within the SEC did not deter sellers.

Analysts noted the approaching launch of ETFs based on XRP and SOL, despite denials from the CME.

As reported by Glassnode, hodlers have resumed accumulating coins.

Previously, technical analyst Peter Brandt identified $120,000-150,000 as a target for the leading cryptocurrency this year.

10x Research forecasted an increase in the digital gold’s rate to $122,000 in February before “another consolidation.”