As Bitcoin (BTC) rallies to new highs in the ongoing explosive post-election rally, a critical historical metric hints at a possible near-term correction for the leading digital asset.
In this case, crypto analyst Ali Martinez has offered a cautionary note, stating that retail interest may be fueling a dangerous overvaluation, he said in an X post on November 12.
To illustrate his concern, Martinez pointed to the surging Google search trends for ‘Bitcoin,’ which often coincide with price corrections. This pattern was seen in 2021 when increased public interest led to corrections of 30%, 26%, 27%, and even 50%.
With Bitcoin nearing the $90,000 mark, search interest is again spiking. Martinez warned that while heightened interest brings in new capital, it often signals a market top.
“Not bearish, just a word of caution. While retail interest in Bitcoin signals further capital inflows, spikes in search trends often align with price drops,” Martinez said.
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