{"id":126817,"date":"2025-04-09T18:17:00","date_gmt":"2025-04-09T18:17:00","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126817"},"modified":"2025-04-09T18:17:00","modified_gmt":"2025-04-09T18:17:00","slug":"bitcoin-significantly-de-risked-here-as-nearly-80-of-cyclical-price-correction-is-done-analyst","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126817","title":{"rendered":"Bitcoin \u2018significantly de-risked here\u2019 as nearly 80% of cyclical price correction is done \u2014 Analyst"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin\u2019s (BTC) futures market reflects a possible price cooldown after the cryptocurrency\u2019s multiple weeks of correction. Data from CryptoQuant indicated that the BTC-USDT futures leverage ratio with respect to open interest (OI) has halved since peaking in early 2025. Bitcoin estimated futures leveraged ratio. Source: CryptoQuant<br \/>\nThis significant de-leveraging has occurred because of massive liquidations over the past few weeks, which has effectively taken a majority of traders out of the market. Thus, the current market conditions indicate a healthier market reset, which is not overheated and could potentially pave the way for a steady price recovery.<br \/>\nBitcoin\u2019s open interest dropped  28% from $71.8 billion on Dec. 18 to $51.8 billion on April 8. This underscores the magnitude of the current deleveraging event. Although this may induce short-term volatility, as few market players might control the price, it also positions BTC for stability in the long term, offering an advantage in the current uncertain trend.<br \/>\nRelated: Bitcoin futures divergences point to transitioning market \u2014 Are BTC bulls accumulating?<br \/>\n$70K Bitcoin is the worst-case scenario, says analyst<br \/>\nIn an X post, Sina, the co-founder of 21st Capital, presented an update on his Bitcoin Quantile Model and said that \u201cBitcoin is getting significantly de-risked here.\u201d<br \/>\nBitcoin Quantile Model. Source: X.comThe analyst explained that Bitcoin might have already completed 75-80% of its correction, declining from $109,000 to $74,500. Historically, prices have fallen by as much as 34% during the six-to-eight-week span of such trends. Currently, Bitcoin has dropped 31% from its all-time high, and a further decline to $72,000-$70,000 would bring it to approximately 34%. Sina added,<br \/>\n\u201cAbsent a recession, $70K is my worst-case scenario. While the macro backdrop remains grim and further sell-off is possible, we think Bitcoin is deeply undervalued for a long-term investor.\u201d<br \/>\nHowever, the likelihood of an immediate recovery remains low, as Bitcoin researcher Axel Adler Jr. expects BTC to move sideways in the \u201cvolatility corridor.\u201d<br \/>\nBitcoin support and resistance level. Source: X.comThe volatility corridor identified a price range of $75,000 to $96,000, outlined with the help of short-term holders\u2019 realized prices over different time periods.<br \/>\nAdler Jr. said that it was possible that BTC would consolidate between these levels over the next few weeks but warned that the price must hold a position above the 365-day simple moving average. A break below the key indicator could potentially lead to a new yearly low below the $74,500 level, with the ideal price being $70,000, as noted earlier.<br \/>\nRelated: Trump tariffs reignite idea that Bitcoin could outlast US dollar<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-significantly-de-risked-here-as-nearly-80-of-cyclical-price-correction-is-done-analyst?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin\u2019s (BTC) futures market reflects a possible price cooldown after the cryptocurrency\u2019s multiple weeks of correction. Data from CryptoQuant indicated that the BTC-USDT futures leverage ratio with respect&hellip; <\/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\/126817"}],"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=126817"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126817\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126817"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}