Crypto analyst says Bitcoin bottom is very close, another correction in BTC likely

■Bitcoin is trading above key support at $65,000, at $67,090 on Sunday. 

■Crypto analyst Rekt Capital says that a Bitcoin bottom is very close, based on his analysis. 

■Crypto trader Yoddha takes an opposing stance, says there may be no deep correction in Bitcoin price. 

Bitcoin is trading above $67,000 on Sunday after securing support at $65,000. While BTC holds its gains steady, analysts evaluate the price trend of the largest asset by market capitalization and predict a deeper correction in Bitcoin. 

Bitcoin price faces correction threat?

Bitcoin has secured support at $65,000 and as the asset marches ahead, analysts evaluate the likelihood of a deeper correction in Bitcoin. Crypto trader and analyst Yoddha told his 49,000 followers on X that Bitcoin is holding up strongly and said, “I don’t think there will be a deep correction.” 

While traders remain bullish on Bitcoin in the long term, a short term correction or bottom in BTC is likely. 

Dr Martin Hiesboeck, Head of Research at Uphold shared his long term bullish take on Bitcoin in a recent tweet on X. 

Crypto analyst Rekt Capital tweeted earlier on Sunday that “we would be very lucky” if BTC retraces after reaching $72,000. 

The analyst acknowledged in a series of tweets that Bitcoin’s downtrend is likely over and the Bitcoin bottom is close. There could be a correction in BTC as it rallies towards $70,000. 

Rekt Capital says that Bitcoin is past the “danger zone” and BTC could extend its gains above $67,000.