What analysts are noting about the current bitcoin correction

Bitcoin's exchange rate is falling and dragging most altcoins with it. Of course, this is not a cause for serious concern and panic in the cryptocurrency market, but rather a natural correction that had to happen eventually after a dynamic two-week growth. What to expect in the coming days in terms of BTC price?

Ali Martinez predicts bitcoin could fall to $60,000

Rekt Capital, on the other hand, presented an analysis referencing previous BTC cycles related to the past halving

According to this model, the correction of the largest of the cryptocurrencies may soon deepen

Meanwhile, next week, the Federal Open Market Committee (FOMC) will decide on interest rates, which could affect the cryptocurrency market. Until then, traders will proceed with some caution.

What's next for the bitcoin rate

After two weeks of continuous price rally of the king of cryptocurrencies and setting several new all-time highs (ATH), the latest of which was $73,750 yesterday, it is finally time for a natural and healthy correction. In a matter of hours, the price of BTC fell 11%, pushing back from yesterday's highs and bottomed out at $66,000.
The mood in the digital asset community is quite upbeat, and there are no signs of panic among investors, unless you are "new" to the market and this is its first correction.
As of this writing, bitcoin is at $68,156, down 5.48% from 24 hours ago.

But what are the experts saying about the future movement of the BTC price? Let's take a look at today's predictions presented by Ali Martinez and another analyst known in the cryptocurrency community as Rekd Capital.
The former, in a published post, points to a support range that has settled on the bitcoin chart between $64,750 and $66,700. However, the analyst notes that if the bears manage to break this lower level and push the bitcoin price lower, the next important support zone will be the range between $60,760 and $62,790.
However, he emphasized that this is a great buying opportunity, as the price of the leading cryptocurrency should soon return to its peak levels again. Thus, everything is in order.
Rekd Capital describes the situation in a similarly optimistic tone, although it first points out caution about the upcoming movements. The analyst draws attention to the approaching "danger zone" in terms of a potential further fall of BTC.
An analogy is drawn here with historical southward price drops in the run-up to the halving. Rekt Capital in its analysis predicts that the mentioned dangerous level of the BTC price could begin in about four days.
As we can see, the data presented shows a 20% drop in the BTC price in 2020, and even earlier in 2016, a 40% drop. These drops occurred at intervals of 14-28 days before bitcoin halved. It is now 32 days before the nearest drop in the level of new coins entering circulation.