#Bitcoin plunges below $90,000#
Hot Topic Overview
Overview
Bitcoin has been consolidating between $90,000 and $100,000 recently, causing volatility in investor sentiment. Despite falling below $90,000 on Monday, it rebounded to $96,500 on Tuesday, up more than 8%. Tom Lee, Head of Research at Fundstrat, believes the current correction is normal and expects Bitcoin to reach $250,000 by the end of the year. He pointed out that the decline in Bitcoin has been relatively small, indicating that it is becoming more mature. Lee believes $70,000 is a strong support level, but if it falls below that, it could test $50,000. Despite the short-term pullback, Lee remains bullish on Bitcoin, believing it will be one of the most prominent assets by 2025.
Ace Hot Topic Analysis
Analysis
Bitcoin's recent dip below $90,000 has sparked market concern. While there has been a short-term correction, Fundstrat research head Tom Lee believes it's just a normal adjustment and expects bitcoin to reach a high of $250,000 by the end of the year. He points out that bitcoin's current decline of about 15%-20% is far less than previous bull market drops, indicating the asset is becoming more mature. He believes $70,000 is a strong support level, and if that doesn’t hold, then a test of the $50,000 level could be possible. Despite this, Lee remains bullish on the long-term prospects of bitcoin, believing it will be one of the most prominent assets in 2025.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin's short-term adjustment is normal, a normal pullback for a volatile asset.
Bitcoin's correction is relatively small, indicating that the asset is becoming more mature.
70,000 USD is a strong support level for Bitcoin. If it breaks down, it could test the 50,000 USD level.
Tom Lee remains bullish on Bitcoin, predicting it will reach 200,000 to 250,000 USD by year-end.