TechFlow reported on January 27, according to CoinDesk, analyst Van Straten noted that Bitcoin has pulled back nearly 10% from its all-time high of $109,000, dropping to around $98,000. Since Trump's election as U.S. President, Bitcoin has risen from $66,000 to a new peak, experiencing two prior corrections of about 15% during this run.
On-chain data shows the short-term holder cost basis is at $91,000, and a breakdown below this key support level could weigh on the current bull market. Bearish sentiment is rising, with Bitcoin funding rates turning negative. Arthur Hayes, co-founder of BitMEX, predicts Bitcoin might correct to the $70,000–$75,000 range before eventually reaching $250,000.
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