Why Bitcoin Plunged After Hitting a Record High

Corrections Are Normal

Bitcoin’s recent dip after reaching an all-time high is not surprising, according to market analyst Alex Thorn. In bull markets, corrections are common. Bitcoin experienced similar drops in 2021 and 2017.

Profit-Taking Likely

Crypto analyst Guy Turner suggests that profit-taking contributed to the pullback. Investors may have sold their Bitcoin after its price surge, locking in their gains.

Consolidation Healthy

Thorn believes that a period of consolidation could be beneficial for Bitcoin after its rapid ascent. It allows investors to adjust their positions and accumulate more BTC at a lower price.

Bull Market Continues

Despite the correction, the bull market is still in full swing. Crypto analyst Ali Martinez predicts that it will continue until October 2025.