The broader digital currency ecosystem has cooled off from the massive liquidations recorded in the past few weeks. Speaking to his more than 408,400 followers on X, CryptoQuant founder Ki Young Ju said anyone caught panic-selling right now is probably a “noob.”
Bitcoin retracements common
To justify his assertions, the top analyst said a 30% correction in a Bitcoin bull cycle is not uncommon. In the 2021 bull cycle, he said the top coin slumped as much as 53% but recovered to an all-time high (ATH).
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On the accompanying chart he shared, the Bitcoin price has always experienced a drawdown in key market cycles, including the 2017 and 2020 cycles. Typically, the coin corrects by default after recording a price discovery move. However, he noted that this does not typically imply the end of the bull cycle.
In follow-up posts, the top analyst shared insights that the market may still swing broadly but that the bull cycle remains intact.
According to Ki Young Ju, buying any cryptocurrency when prices soar and selling when they fall is “the worst investment strategy” anyone could adopt. He advised crypto degens to invest with a clear plan, a position other analysts noted should come with no loss.
State of Bitcoin and altcoins
Macroeconomic uncertainties have continued to weigh down on Bitcoin, and the tariff war in North America is serving as a headwind for risky assets.
At the time of writing, Bitcoin’s price dropped by another 2.9% in 24 hours to $85,984.77. Over the past week, the coin has fallen by 11.63%, with the coin recording its ugliest February in 11 years.
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Based on its strong dominance on the market, altcoins have charted a similar negative trend to BTC. Ethereum is down by 4.6% in 24 hours to $2,349.72, XRP has lost 3.66% to $2.205, and Solana is down 0.67% to $139.40.
With the Crypto Fear & Greed Index showing extreme fear, cyclical fund rotation is possible in the short term.
Source: https://u.today/30-correction-is-common-top-analyst-sends-crucial-message-to-bitcoin-sellers