The Bitcoin 70k Retracement Part of “macro correction” Within bull market, analysts

Bitcoin’s potential decline to $70,000 is likely a natural part of this bull market, even though crypto investors worry about an early bear market.

BitcoinBTCThe price of Bitcoin (BTC) has dropped by over 14 percent in the past seven days to around $80 708, after investors became disappointed at the lack direct federal Bitcoin investments in Donald Trump’s executive order dated March 7, which outlined the plan to create an Bitcoin reserve with cryptocurrency forfeited during government criminal proceedings.

Even though investor confidence has dropped, cryptocurrency and global markets are still in good shape. “macro correction” Aurelie Barrthere, Principal Research Analyst at Nansen Crypto Intelligence Platform, says that the current bull market is part of it.

The analyst said that most cryptocurrencies are now trading below key support levels. This makes it difficult to predict the next major price levels.

“This is a macro correction (US tech will be down by 3% in the future, as discussed), so we have to monitor BTC. Next level will be $71,000 – $72,000, top of the pre-election trading range.”

“We are still in a correction within a bull market: stocks and crypto have realized and are pricing; a period of tariff uncertainty and fiscal cuts, no Fed put. Recession fears are popping up,” The analyst is added.

Analysts from other firms have warned about the dangers of a similar trend. Bitcoin may experience a deeper The retracement of the “low $70,000’s range, which may “Iliya Kalchev is a dispatch analyst for digital asset investment platform Nexo. He spoke to Cointelegraph.

Related: Bitcoin reserve backlash signals unrealistic industry expectations

Bitcoins decline of 36% to $70k “normal” for a bull market: Arthur Hayes

Bitcoin’s potential retracement to the $70,000 psychological mark would still fall within the regular price movement of a bull market, according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.

Hayes wrote in a March 11 X post:

“Be fucking patient. The $BTC bottom is likely to be around $70.000. A 36% drop from the $110k all-time high is very normal.

Then we will have Fed, PBOC ECB and BOJ all easing their countries to greatness.” added Hayes, referring to quantitative easing, a monetary policy where central banks increase the money supply by buying government bonds and other financial assets.

Related: Bitcoin may benefit from US stablecoin dominance push

Quantitative easing has historically been positive for Bitcoin price.

Bitcoin price rose over 1,050% during the last quantitative easing period, from just $6,000 in March 2020 to $69,000 by November 2021, after the Federal Reserve’s quantitative easing policy was announced On March 23, 2020 during the Covid-19 Pandemic, buy assets worth over $4 trillion. These include treasuries.

Bitcoin price forecasts for 2025 remain optimistic. ranging from $160,000 You can also find out more about the following: above $180,000.

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