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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-major-corrections-for-bitcoin-and-ethereum-after-recent-rallies/" data-wpel-link="internal">Analyst Predicts Major Corrections for Bitcoin and Ethereum After Recent Rallies</a> 
A closely followed crypto market analyst has declared his belief that major corrections are coming for <a href="https://en.coin-turk.com/bitcoin-price-analysis-bitcoins-technicals-point-to-a-potential-rally-as-it-approaches-31000/" data-wpel-link="internal">Bitcoin</a> (BTC) and Ethereum (ETH) after their recent rallies. He also reiterated his predictions for Bitcoin (BTC) from past periods. 
<h2 id="whales-target-in-btc">Whales’ Target in BTC</h2> 
Senior crypto analyst Capo told his followers that this week’s potential approval of a spot Bitcoin exchange-traded fund (ETF) could ignite a short-lived rally for Bitcoin and other cryptocurrencies. The analyst stated the following: 
<blockquote> 
 Whales are showing strong interest in the $48,000-$50,000 level. News can trigger volatility and leave big wicks. Thus, a rise to this level followed by a major rejection is a likely scenario. 
</blockquote> 
The analyst shared a chart predicting Bitcoin’s price movement for the next few days. He suggested that upon the <a href="https://newslinker.co/" data-wpel-link="exclude">news</a> of the spot market Bitcoin ETF’s approval, Bitcoin could rise to $51,000. Following the rise, experts suggest that Bitcoin will likely fall to the $30,000-$31,000 levels. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-300058 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/capo.webp" alt="" width="2048" height="1105"> 
<h2 id="ethereum-forecast">Ethereum Forecast</h2> 
The senior analyst also predicts that Ethereum will rise to $2,600 before a correction. He emphasized that he expects other altcoins to undergo a major correction after a brief upward movement, stating: 
<blockquote> 
 We have an interesting week ahead. ETF news should be released soon. As announced these days, I expect the market to rise first. BTC to $48,000-$50,000, ETH to $2,500-$2,600. Altcoins, especially those with lower caps, need to rise more. After this process, which should last a few days, the market needs to reach a very important local peak. That’s when I’ll start opening short positions targeting new bottom levels. 
</blockquote> 
Looking at further dates, the analyst continues his long-standing prediction that Bitcoin will eventually fall to the $12,000 level, indicating that this may happen around April. At the time of writing, Bitcoin has seen a 7% increase over the last 24 hours, trading at $46,776. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-major-corrections-for-bitcoin-and-ethereum-after-recent-rallies/" data-wpel-link="internal">Analyst Predicts Major Corrections for Bitcoin and Ethereum After Recent Rallies</a></h5>

Analyst Predicts Major Corrections for Bitcoin and Ethereum After Recent Rallies

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