Bitcoin price is once again showing strength as it bounced back almost 2% eyeing a move past $100K levels very soon. With more than 6% weekly gains, analysts predict that the BTC correction could finally be behind us. Moreover, investors can expect greater volatility moving ahead with Donald Trump swearing in just 15 days from now. Other macro factors like the US CPI release and FOMC could play a key role in driving volatility.
Where Is Bitcoin Price Moving Next?
Starting Monday, Bitcoin is entering week 10 of its price discovery phase with analysts closely monitoring the market’s ability to confirm the end of the corrective phase. As per Rekt Capital, BTC has effectively navigated the challenging Week 7 and Week 8 with only a modest -15% pullback, which is much less than the 30% decline seen during a similar phase in 2017.
The analyst added that the weekly BTC close above the blue support zone around $97,907 could probably market the end of the downtrend. However, to confirm the upt
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