Shiba

Rally

Cryptocurrency

Bitcoin

April

<a href="https://en.coin-turk.com/celebrating-bitcoin-pizza-day-the-remarkable-story-of-the-first-ever-bitcoin-transaction/" data-wpel-link="internal">Bitcoin</a> (BTC) faced a significant correction and fell sharply by 9% on December 11, slipping to $42,140. This drop wiped out the gains made last week, bringing BTC down to its lowest level in four months at $41,005, possibly signalling a serious market change. 
<h2 id="negative-sentiment-in-cryptocurrency-markets">Negative Sentiment in Cryptocurrency Markets</h2> 
The price correction in Bitcoin quickly caused a volatility effect among altcoins, and many people witnessed double-digit declines. However, analysts and market experts see this fall as a natural progression in the ongoing market cycle. A correction of this nature was expected after a two-month uptrend. 
Will Clemente, co-founder of Reflexivity Research and a crypto analyst, interprets the market correction as a way to eliminate weak positions and alleviate high-leveraged crypto markets, linking this volatility to a necessary stage in market evolution. In addition, Remen, a well-known crypto analyst, expressed his belief that this recent setback could pave the way for an altcoin bull run. He predicts a long Bitcoin consolidation period before a potential uptrend, referencing Bitcoin’s peak dominance. 
The market drop on December 11 cleared the environment for recalibration by liquidating leveraged positions worth $400 million. Santiment, an on-chain analytics firm, pointed to a significant increase in social media posts advocating ‘buying the dip’. This increase expresses collective confidence in the community about an upcoming rise in altcoin prices. 
<img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-287630 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/santimenttt-scaled.jpg" alt="" width="2560" height="1702"> 
<h2 id="re-testing-process-in-bitcoin">Re-Testing Process in Bitcoin</h2> 
Additionally, the potential drop in Bitcoin’s dominance from around 54% to re-testing support at about 40% further strengthens the optimistic outlook for XRP, Ether, Cardano, Solana, and <a href="https://en.coin-turk.com/shib-continues-to-rise-despite-speculation-of-a-new-drop/" data-wpel-link="internal">Shiba</a> Inu. The momentum behind BTC that started in October was significant, and the leading cryptocurrency increased its value by about $10,000 just last month. Another crypto analyst, Hitesh.eth, highlights BTC’s rise after a stagnant six-month period, pointing to an effective change in market trend. 
As on-chain data showing the continuous accumulation of accounts holding more than 1 BTC indicates, it has increased by 50% since its rise in October. This uptrend can be supported by institutional entries and the growing interest of <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> giants, especially in anticipation of the opening spot of the Bitcoin exchange-traded fund before the important Bitcoin halving event in April 2024. Continue Reading: <a href="https://en.coin-turk.com/bitcoin-and-altcoins-potential-rally-after-this-level/" data-wpel-link="internal">https://en.coin-turk.com/bitcoin-and-altcoins-potential-rally-after-this-level/</a>

Bitcoin and Altcoins: Potential Rally After This Level

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