A Deep or Correction?

[Stuart]

Is Bitcoin currently facing a bear market, for as the price of Bitcoin has been on a downward movement for days now.

An article I came across said it is the Feds Reserve Decision to cut some interest down for the year which the cut interest rates was by 0.25% as was widely expected.

Is this also a way in which the government wants to take their place in the crypto industry, cause when we hear Federal Reserve, that's the government having their effect of the crypto market already.

On another perspective, the price of Bitcoin got to the highs of $108k+, could it be that the whales in the market took out some profits to open a new entry level? Cause this also happened when Bitcoin first touched $104k we experienced something of this same nature.

What do you guys think about the current market situation? Let's hear your thoughts about this. Thanks.

[rdluffy]

I think it's a big combination of factors

1 - The whole market reacted badly to the FED, not just the cryptos, but the stock markets too
2 - Whales liquidating the longs
3 - People and companies capitalizing / selling for the end of the year
4 - Fear that the bull market is coming to an end

[pawel7777]

It's not really that deep, at least not yet. Today's low was $92,250 which is less than 15% of the ATH.
In the previous cycles, we've seen much bigger corrections on the way to the peak, of around 20-30% if I remember correctly.
I think the major trigger was the overreaction to the news about FED intending to make less interest rates cuts in 2025, but I think we'll rebound.

[UNIVERSE]

Is Bitcoin currently facing a bear market, for as the price of Bitcoin has been on a downward movement for days now.

I think no, Bitcoin is just experiencing a big correction after it reaches $108k. I think it is normal, it needs a correction before it increases a higher price. We must be patient to see the corrections. It must recover soon, just wait for the new year to see another pump in the market.

What do you guys think about the current market situation? Let's hear your thoughts about this. Thanks.

I think it is a normal correction. Crypto market will be green again soon. January should be the big pump for crypto coins. According to some experts, Q1 2025 may be the peak of this bullrun season.

[pawel7777]

I think it is a normal correction. Crypto market will be green again soon. January should be the big pump for crypto coins. According to some experts, Q1 2025 may be the peak of this bullrun season.

Yeah, nothing to panic about. Any dip up to the level of $85k would be still within the normal price action, similar to the previous cycles.
After dipping to $92.5k area, we somewhat stabilised at the $97k level. I expect we might go a bit lower tomorrow, given weekends are usually not very great for pumping and the volume not being that high. But we'll most likely be back to above $100k in a few days from now.

[LogitechMouse]

Is Bitcoin currently facing a bear market, for as the price of Bitcoin has been on a downward movement for days now.

An article I came across said it is the Feds Reserve Decision to cut some interest down for the year which the cut interest rates was by 0.25% as was widely expected.

Maybe this is one of the reasons why the market dumped really hard a few days ago and when I say HARD, I mean really hard. Just imagine how much traders lost their money in that dump alone. I believe more than a billion dollars lost their money and got liquidated "AGAIN". We've seen 2 huge dumps in this month alone, causing most traders to lose their money.

Is this also a way in which the government wants to take their place in the crypto industry, cause when we hear Federal Reserve, that's the government having their effect of the crypto market already.

Probably, but we have no concrete proof of that. We can speculate that it can be, but that's what we can do at best.

On another perspective, the price of Bitcoin got to the highs of $108k+, could it be that the whales in the market took out some profits to open a new entry level? Cause this also happened when Bitcoin first touched $104k we experienced something of this same nature.

What do you guys think about the current market situation? Let's hear your thoughts about this. Thanks.

It's also possible that many already set their selling price target at $108,000. Whales probably already put their Bitcoin holdings on sell at that price and that caused a huge downward pressure, and those who newbie investors also sold theirs as well out of panic. As for the market situation, we will still see the market going up maybe not this month, but in the first 3 months of 2025, and that's based on the price movement of Bitcoin 3 years ago in 2021.

I just can't forget that huge dips that happened this month that caused me to lose my capital in trading. 

[SmartGold01]

There are possibilities of what you said be true about the Fed wanting to take a position on the market, though we can't overemphasize on that but basically I am seeing it to be a correction to open new position. The market has hit an ATH of 108k and for this to further its needs a correction that would give the market a momentum to create another price level which would gives the market support to reach another ATH.

[bitmover]

I think it's a big combination of factors

1 - The whole market reacted badly to the FED, not just the cryptos, but the stock markets too
2 - Whales liquidating the longs
3 - People and companies capitalizing / selling for the end of the year
4 - Fear that the bull market is coming to an end

I think the most important factor is the FED.

Nobody really believes that the bull market is coming to an end.

Bitcoin is everywhere now. Everyone is talking about it. In the last cycle, El Salvador was talking about BTC. Now it is USA and Russia. It is another level of engagement.

I am bullish about 2025

[Dr.Bitcoin_Strange]

The bear market has not yet started, this is just a price correction based on my speculation we are still going to experience some bullish momentum to above $110k further before the price will go bearish and could go down to $80k. If the bearish movement start fully, we could even see Bitcoin come down to $75k and that's not going to be this year.

[rdluffy]

I think it's a big combination of factors

1 - The whole market reacted badly to the FED, not just the cryptos, but the stock markets too
2 - Whales liquidating the longs
3 - People and companies capitalizing / selling for the end of the year
4 - Fear that the bull market is coming to an end

I think the most important factor is the FED.

Nobody really believes that the bull market is coming to an end.

Bitcoin is everywhere now. Everyone is talking about it. In the last cycle, El Salvador was talking about BTC. Now it is USA and Russia. It is another level of engagement.

I am bullish about 2025

I'm optimistic about 2025 too 
Everything points to a few excellent months, breaking the cycle due to the high demand for Bitcoin, the high adoption, etc

But I went through 2017-2018 and then 2021-2022 and I remember well that the market turns downwards so abruptly, that it catches you off guard and it's always good to keep your feet on the ground hehehe

[milewilda]

I think it's a big combination of factors

1 - The whole market reacted badly to the FED, not just the cryptos, but the stock markets too
2 - Whales liquidating the longs
3 - People and companies capitalizing / selling for the end of the year
4 - Fear that the bull market is coming to an end

Yes, i do agree with this list on which this is really that the common reason on why this market is really making out that correction. We cant really just having a continous price increase on which at the moment that it will be having its greed indication or lets say we are on overbought state or situation then you will be able to expect that there's sell off, even though TA's arent that precise but at least you do have that kind of idea at least on where it could possibly make out some correction or price dump.

[Stompix]

Bitcoin is everywhere now. Everyone is talking about it. In the last cycle, El Salvador was talking about BTC. Now it is USA and Russia. It is another level of engagement.

And what happens if Trump is back on his game of forgetting his promises?
Remember how the markets created just a few days ago when he said that bringing grocery prices back down is hard to do, he isn't even president yet, and suddenly from saying he will do that and this he is already backtracking on it saying it's hard and stuff and we need to deal with it.

If he forgets about the reserve or starts coming up with excuses we will see bear season, all this hype right now runs on this, plug the cord and we're back in days at 60 levels if we're lucky.

[segmadis]

We have still not saw a real correction. 15% down and few days before Christmas is something that is not so unique if I must say.
Historically we will know where this cycle is headed once we hit January

[bitmover]

If he forgets about the reserve or starts coming up with excuses we will see bear season, all this hype right now runs on this, plug the cord and we're back in days at 60 levels if we're lucky.

Well, this is a risky investment. Bear can come at anytime, you are correct. No only trump promises, but everything may change quickly (like it always did).

Bitcoin is still a very young project, 15 years is basically nothing in the history of finance. This cycle is already a bit different than the others, and history of cycles may not repeat itself

[Gurujebs]

What do you guys think about the current market situation? Let's hear your thoughts about this. Thanks.

You can't call this a dip and it's not a correction, it's just lower high channel. A dip is when we crash hardly maybe by 20% and the market refused to go to where it's trading again due to fear or any uncertainty and as for the correction, a healthy one will take time before we see the correction atleast 35% from the all time high.

I think we will stay here for a while until there is affirmation of Donald Trump into the white house and if he is going to say the thing he promised the Bitcoin market or just another politician that has played people's with their usual talk.