Correction Likely for Bitcoin after Rising to $117K
Bitcoin is higher now than it has been in weeks, but it may climb much higher before backtracking.
Quick overview
- Bitcoin has surged to $117,584, marking a 5-week high, but a price correction is likely imminent.
- Analysts predict Bitcoin could reach between $140K and $150K in the next month and a half, followed by a significant decline.
- Past trends suggest that after reaching new highs, Bitcoin often experiences steep declines, potentially dropping below $100K.
- Positive sentiment and recent Fed interest rate cuts may support Bitcoin's upward trajectory.
Over the past 24 hours, Bitcoin (BTC) has been bullish and surged to $117,584 (BTC/USD), but with that upward shift comes the strong likelihood that there will be a price correction soon.
Bitcoin is up 1.34% for the day, passing $117K for the first time in almost five weeks. That puts the coin close to its all-time high, but investors need to be aware that Bitcoin is likely to fall short of a new high right away and will be very susceptible to price correction.
BTC/USDExpect a decline of close to $1,000 for the coin, but we may see Bitcoin hold onto some of its recent gains and then create a higher support level that pushes it to new highs very soon. One analyst predicts that in the next month and a half, Bitcoin will climb to an unprecedented $150K.
Several analysts predict that the current Bitcoin cycle will repeat previous movement trends and will peak in about 45 days and may peak somewhere between $140K and $150K. However, with that tremendous peak will come a strong price correction, if past cycle behavior is any indication.
Be Prepared for the Downside
If Bitcoin can push higher and move beyond its current all-time record, then there will likely be a period of decline that could push the coin below $100K. That would be temporarily catastrophic for the coin, but we do tend to see swift and steep decline for the coin after it pushes to a new high that is considerably more than the previous high.
After climbing to $106K early this year, Bitcoin struggled to keep that high. It fell down to $76K briefly and stayed low for months. After a record high of above $123K in August of 2025, Bitcoin fell steeply again. It dropped down to $108K, but it has since regained a lot of that lost ground.
Bitcoin could be spurred by the new Fed interest rate cut of 25 basis points, and that could help propel it to a new high. There is also strong positive sentiment globally for cryptocurrency and Bitcoin in particular. Bitcoin is also receiving government support from the United States, which only this year started to make tremendous headway on creating a sensible framework for cryptocurrency regulations with the promise of more efforts there to come.
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