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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/bitcoin/btc-price-analysis-crypto-analyst-predicts-impending-bitcoin-correction/">BTC Price Analysis: Crypto Analyst Predicts Impending Bitcoin Correction</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Prominent pseudonymous trader, Inmortal, issues a warning about an impending market panic. With over 195K social media followers, Inmortal <a href="https://twitter.com/inmortalcrypto/status/1689805415159095297" rel="noopener noreferrer nofollow">suggest</a>s a Bitcoin correction looms, possibly driving the price down to approximately $26,000 by month-end. This anticipated dip might divert attention from broader market trends, leading to investor anxiety. 
<h2 id="etf-induced-correction-yet-positive-signs" data-name="etf-induced-correction-yet-positive-signs" class="wp-block-heading">ETF-Induced Correction, Yet Positive Signs</h2> 
The expected correction appears to stem from potential delays in approving spot-based Bitcoin exchange-traded funds (ETFs), according to Inmortal. This delay could prompt an exodus of investors before ETF regulatory approval is secured. This correction was a temporary shift, ultimately paving the way for Bitcoin to reach $36,000. Despite the potential initial panic, Inmortal views this dip as part of a larger macro higher low phenomenon.&nbsp; 
<blockquote class="wp-block-quote"> 
 He views the market may be down there is hope: “Now that the price is going in slow motion, don’t worry about it, go enjoy the summer. And get ready because in 2024-2025 we will be up all night trading sh**coins.”&nbsp; 
</blockquote> 
With bigger exchanges like Coinbase, and Binance, struggling in the lawsuit realm, it is interesting to see the altcoins rise.&nbsp; 
<h2 id="mixed-sentiments-on-near-term-bitcoin-movement" data-name="mixed-sentiments-on-near-term-bitcoin-movement" class="wp-block-heading">Mixed Sentiments on Near-Term Bitcoin Movement</h2> 
While Rekt Capital <a href="https://twitter.com/rektcapital/status/1690795129651519489?s=20" rel="noopener noreferrer nofollow">highlights </a>that even though BTC recently reached around $30,200 before, a positive weekly closing above $29,250 would make the recent price drop less concerning and more bullish for BTC.&nbsp; 
However, Stockmoney Lizards <a href="https://twitter.com/StockmoneyL/status/1690648390177001472?s=20" rel="noopener noreferrer nofollow">offers </a>a different perspective. Anticipating Bitcoin’s price fluctuations akin to a rollercoaster ride, Stockmoney Lizards sees Bitcoin in a pre-halving stage, projecting it may not exceed $48,000 until April 2024. Post-halving BTC may rise to new ATH.&nbsp; 
<h2 id="altcoin-enthusiasm-and-future-outlook" data-name="altcoin-enthusiasm-and-future-outlook" class="wp-block-heading">Altcoin Enthusiasm and Future Outlook</h2> 
Echoing similar sentiments, other experts anticipate an upward trend for altcoins, particularly in 2024, with a focus on accumulating Solana and Chainlink. Looking ahead, Inmortal <a href="https://twitter.com/inmortalcrypto/status/1690378143004033024" rel="noopener noreferrer nofollow">predicts</a> a bullish altcoin trajectory for 2024 and beyond, encouraging investors to disregard short-term price stagnation for the promising trading conditions that lie ahead. In line with his beliefs, Inmortal discloses his current accumulation of Solana and Chainlink, with Solana priced at $24.55 and LINK trading at $7.45 at present.

BTC Price Analysis: Crypto Analyst Predicts Impending Bitcoin Correction

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