#Bitcoin plunges below $90,000#
Hot Topic Overview
Overview
Bitcoin has been consolidating between $90,000 and $100,000 recently, causing investor sentiment to fluctuate. Despite falling below $90,000 at one point, Bitcoin rebounded to $96,500, gaining over 8%. Tom Lee, Head of Research at Fundstrat, believes the current pullback is normal and that Bitcoin's relatively small decline in the current cycle indicates it is becoming more mature. He forecasts Bitcoin to reach $250,000 by year-end and sees $70,000 as a strong support level, with a potential test of $50,000 if this level fails to hold. Despite the short-term pullback, Lee remains bullish on Bitcoin's long-term outlook, believing it will become one of the most prominent assets by 2025.
Ace Hot Topic Analysis
Analysis
Bitcoin's recent drop below $90,000 has sparked market attention. Tom Lee, head of research at Fundstrat, believes the current correction is normal and expects Bitcoin to reach $250,000 by year-end. He noted that Bitcoin's 15% drop from its peak is a normal pullback and, compared to previous bull market declines of 30%-50%, this decline is relatively small, indicating Bitcoin is becoming more mature. Lee believes $70,000 is a strong support level, and if it does not hold, it could test $50,000. Despite the short-term pullback, Lee remains bullish on Bitcoin and expects it to 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, it is a normal callback.
Bitcoin is very volatile, but is becoming more mature.
70,000 dollars is a strong support level for Bitcoin.
Tom Lee remains bullish on Bitcoin, expecting it to reach 250,000 dollars by the end of the year.