Bitcoin trades at $84,000: Reasons behind the market pullback
Bitcoin recently hit a low of $76,600, raising concerns across the crypto community about its future trajectory. This decline briefly pushed the asset below its 200-day moving average, marking a significant shift from its record-breaking rally to an all-time high of $109,200.
Over the past few weeks, Bitcoin has corrected by more than 25%, bringing its total market capitalization down to $1.53 trillion. While short-term factors such as stronger-than-expected CPI data, increased job availability in the US, and other macroeconomic developments have led to temporary relief rallies, Bitcoin has yet to regain its bullish momentum.
Currently stabilizing near the $84,000 level, the key question remains—what factors could resume the bull run and push Bitcoin toward new all-time highs?
How common are market corrections?
Crypto TrackerTOP COIN SETSWeb3 Tracker17.64% BuyNFT & Metaverse Tracker15.62% BuyAI Tracker10.87% BuySmart Contract Tracker5.56% BuyDeFi Tracker4.52% BuyTOP COINS (₹) BNB54,715 (3.89%)BuyBitcoin7,238,091 (-1.06%)BuyEthereum164,910 (-1.44%)BuyXRP203 (-1.77%)BuySolana11,174 (-4.41%)BuyDuring a bull run, consolidation phases such as this one are quite common. Over the last 10 years, we have seen over 11 instances where a 25%+ correction has occurred. When we look at the recent corrections in 2021 and 2017, the average correction was about 37% and 37%, respectively. Compared to the previous years, we are at a much better place for a recovery given that the perception of crypto has been changing across the
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