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<ul>
 <li>Crypto market bleeds as Bitcoin price dips below $61,000.</li>
 <li>Altcoins dip by 50%-70% and bearish sentiment is on the rise.&nbsp;</li>
 <li>Seasoned altcoins see this as the final correction before an unstoppable upward rally.</li>
</ul>
<p>The <a href="https://cryptonewsland.com/another-correction-slaughters-bitcoin-and-crypto-market/" target="_blank" rel="noopener noreferrer nofollow">crypto market continues to fall</a> in a steep decline liquidating many top holders. As the market bleeds many crypto analysts encourage traders to hold strong or buy the dip. Seasoned analysts in particular share similarities with previous bull cycles.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c9.png" alt="📉" class="wp-smiley" style="height: 1em; max-height: 1em;">The market is bleeding <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fa78.png" alt="🩸" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fa78.png" alt="🩸" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fa78.png" alt="🩸" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Altcoins continue to fall, sentiment is down, and I read articles saying, "The ETH ETF approval will cause Ethereum to crash to $2,400".<br><br>Is it all over? Is there more pain to come?<br><br>Market update (the facts):<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> decides the direction of…</p>— Patric H. | CryptelligenceX (@CryptelligenceX) <a href="https://twitter.com/CryptelligenceX/status/1805142448647065838?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 24, 2024</a>
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<p>As we can see from the post above, one seasoned crypto analyst shares market facts that give hope to the crypto community. He marks how <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin went from $72,000 to $60,000</a> and how BTC sentiment decides the direction of the whole crypto market.&nbsp;</p>
<p>According to Bitcoin’s analytics, the pioneer crypto asset has painted bearish signals on the daily, weekly, and bi-weekly time frames. In turn, altcoins are bleeding too with many assets down by 50%-70%. However, Bitcoin is still bullish on the monthly chart.&nbsp;</p>
<p>This latest Bitcoin dip adds to a narrative shared by another analyst who noted that BTC always prints its bottom in June. Since 2020, Bitcoin (BTC) has set its bottom in June. Perhaps this latest correction phase is flushing out the BTC bottom price for 2024.&nbsp;</p>
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   <p lang="en" dir="ltr">Crypto Twitter may be bearish, but you're failing to see the bigger picture. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;">…</p>— Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1804467309420921034?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 22, 2024</a>
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<p>Meanwhile, another popular crypto analyst reminds the global crypto community to focus on the bigger picture. For instance, the market may just be bearish now, but many other bullish actions are taking place behind the scenes.&nbsp;</p>
<p>In particular, he highlights how billions are flowing in from institutional money into Bitcoin ETFs, how ETH ETFs are about to launch, and how <a href="https://cryptonewsland.com/could-a-solana-etf-be-next-in-line-after-ethereum-etf-new-sol-ath-soon/" target="_blank" rel="noopener noreferrer nofollow">Solana ETFs are also in the works</a>. Indeed, seasoned traders who’ve been in the crypto trading market for the past decade all remember how the market can shift at any given moment.&nbsp;</p>
<p>Many analysts believe the main golden bull run is yet to begin. Once this <a href="https://x.com/CryptoMichNL/status/1804469383349035331" target="_blank" rel="noopener noreferrer nofollow">correction phase ends</a> a new super cycle is set to begin that will usher in a glorious altseason bringing with it many new ATHs for altcoins and Bitcoin alike.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ethereum-bleeds-as-price-nosedives-to-nearly-1500/" rel="noopener noreferrer nofollow">Ethereum Bleeds as Price Nosedives to Nearly $1500</a></li>
 <li><a href="https://cryptonewsland.com/crypto-market-bleeds-again-correction-continues-as-etf-outflows-outweigh-inflows-for-first-time-19-days/" rel="noopener noreferrer nofollow">Crypto Market Bleeds Again, Correction Continues as ETF Outflows Outweigh Inflows for First Time 19 Days</a></li>
 <li><a href="https://cryptonewsland.com/crypto-market-bleeds-as-president-biden-proposes-increase-tax-rate/" rel="noopener noreferrer nofollow">Crypto Market Bleeds as President Biden Proposes Increase Tax Rate</a></li>
 <li><a href="https://cryptonewsland.com/tether-provides-safe-haven-amid-bleeding-crypto-market/" rel="noopener noreferrer nofollow">Tether Provides Safe Haven Amid Bleeding Crypto Market</a></li>
 <li><a href="https://cryptonewsland.com/next-crypto-bull-run-in-july-august-says-justin-sun/" rel="noopener noreferrer nofollow">Next Crypto Bull Run in July, August, Says Justin Sun</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/crypto-market-bleeds-corrections-runs-rampant-last-correction-before-golden-bull-cycle/" rel="noopener noreferrer nofollow">Crypto Market Bleeds as Corrections Runs Rampant, Is This the Last Correction Before the Golden Bull Cycle?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Crypto Market Bleeds as Corrections Runs Rampant, Is This the Last Correction Before the Golden Bull Cycle?

Crypto News Land

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