Bitcoin’s recent price weakness has raised concerns, but analysts suggest a deeper correction could be beneficial in the long run. Key takeaways include a downside risk between $65,000 to $75,000 and a potential bullish divergence forming. Supply rotation and oversold conditions are defining BTC’s current price action.

Crypto trader Jackis sees the current move as a macroeconomic range for 2025, noting that the drawdown lacks systemic macro-driven risk-off pressure. Market analyst Jelle highlights a potential bullish divergence forming on Bitcoin’s three-day chart, suggesting a local bottom. Julian Bittel points to historical behavior following oversold RSI readings below 30, indicating a recovery path.

Director of Global Macro at Fidelity, Jurrien Timmer, places the current phase within a broader wave structure spanning 2022 to 2025. He expects future cycles to have flatter slopes as adoption matures, with price modeling suggesting a potential path toward $300,000 by 2029. Corrective phases may lay the foundation for Bitcoin’s next structural advancement.

Read more at Cointelegraph: Bitcoin $70K Sell-off Will Recharge Bull Market