Despite ongoing speculation about Bitcoin's next potential "deep correction," some cryptocurrency analysts disagree on its likelihood.
Bitcoin’s (BTC) price has cemented its position slightly above its key support level of $65,000, and crypto analysts believe that its price formation is holding strong. Some are even doubting the speculations of a deep correction in the near future.
“Bitcoin is holding up the price so strongly that I don't think there will be a deep correction,” pseudonymous crypto trader Yoddha told his 49,000 X followers on May 18.
Meanwhile, Rekt Capital pointed out that the significant correction event has already happened, with Bitcoin’s price falling by 15% from $66,421 on April 24 to $56,792 on May 2, as per CoinMarketCap data.
