A cryptocurrency expert recently highlighted the importance of a potential Bitcoin pullback, suggesting it could hover around $40,000, signaling it’s not necessarily a negative turn.
There’s a growing concern among some circles that Bitcoin might reverse its recent gains entirely. William Clemente, the co-founder of Reflexivity Research, explained in a post on his social media platform that this correction might actually strengthen Bitcoin’s foundation for future upward moves. He emphasized that Bitcoin’s volatility is inherent and plays a crucial role, particularly noting that the absence of pullbacks in the last two months raises concerns. Even though Bitcoin hasn’t precisely doubled, it has experienced a remarkable surge, partly attributed to expectations around SEC approving Spot BTC ETF applications. However, the ongoing rally might be pausing as more long positions than short ones were liquidated recently, hinting at a potential market correction.
