{"id":124836,"date":"2025-03-11T12:15:49","date_gmt":"2025-03-11T12:15:49","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124836"},"modified":"2025-03-11T12:15:49","modified_gmt":"2025-03-11T12:15:49","slug":"bitcoin-70k-retracement-part-of-macro-correction-within-bull-market-analysts","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124836","title":{"rendered":"Bitcoin $70K retracement part of \u2018macro correction\u2019 within bull market: analysts"},"content":{"rendered":"

Source: Cointelegraph.com NewsBitcoin\u2019s potential retracement to $70,000 may be an organic part of the current bull market, despite crypto investor concerns of an early arrival of a bear market cycle.
\nBitcoin (BTC) fell more than 14% during the past week to close around $80,708 after investors were disappointed with the lack of direct federal Bitcoin investments in President Donald Trump\u2019s March 7 executive order that outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases.
\nDespite the drop in investor sentiment, cryptocurrencies and global markets remain in a \u201cmacro correction\u201d as part of the bull market, according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.
\nBTC\/USD, 1-month chart. Source: CointelegraphMost cryptocurrencies have broken key support levels, making it hard to estimate the next key price levels, the analyst told Cointelegraph, adding:
\n\u201cThis 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.\u201d
\n\u201cWe 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,\u201d added the analyst.
\nOther analysts have also warned that Bitcoin may experience a deeper retracement toward the \u201clow $70,000\u2019s range, which may \u201cprovide a foundation for a more sustainable recovery,\u201d Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph.
\nRelated: Bitcoin reserve backlash signals unrealistic industry expectations
\nBitcoin’s 36% correction to $70,000 \u201cnormal\u201d for a bull market: Arthur Hayes
\nBitcoin\u2019s 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.
\nHayes wrote in a March 11 X post:
\n\u201cBe fucking patient. $BTC likely bottoms around $70k. 36% correction from $110k ATH, v normal for a bull market.\u201d
\nSource: Arthur Hayes\u201cThen we get Fed, PBOC, ECB, and BOJ all easing to make their country great again,\u201d added Hayes, referring to quantitative easing, a monetary policy where central banks increase the money supply by buying government bonds and other financial assets.
\nRelated: Bitcoin may benefit from US stablecoin dominance push
\nQuantitative easing has historically been positive for Bitcoin price.
\nBitcoin\u2019s 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\u2019s quantitative easing policy was announced during the COVID-19 pandemic on March 23, 2020, buying over $4 trillion worth of assets such as treasuries.
\nBTC\/USD, 1-week chart, 2020-2021. Source: Cointelegraph\/TradingViewAnalysts remained optimistic about Bitcoin\u2019s price trajectory for late 2025, with price predictions ranging from $160,000 to above $180,000.
\nMagazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler\u2019s Digest, Feb. 23 \u2013 March 1Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsBitcoin\u2019s potential retracement to $70,000 may be an organic part of the current bull market, despite crypto investor concerns of an early arrival of a bear market cycle.… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124836"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124836"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124836\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124836"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}