Bitcoin Correction: Is Accumulation Starting?

[Sowat]

People generally focus on the short-term trend in the Bitcoin price action, yet sometimes it is good to look beyond that.
There are indications of an upcoming accumulation stage in Bitcoin after the recent correction. The overall market sentiment has turned cautious, weak hands have exited the market, and long-term holders are waiting for opportunities.

Here are some observations:

1. Technical Picture
At the moment, Bitcoin is trying to establish a solid base after the significant breakout. Holding vital support zones may suggest that buyers are not giving up.

2. Market Sentiment
While fear is growing after a correction, historically such periods offered good buying chances.

3. Long-Term Growth & Adoption
Adoption of Bitcoin is increasing as more institutions become interested in it and awareness is spreading around the world. All these can be very beneficial for the long-term future of Bitcoin.
But let’s not forget about the risk factors. Uncertainty in the economy, regulation and liquidity issues can affect prices quite unpredictably.

In my opinion, Bitcoin might remain volatile in the short-term perspective, but its fundamentals and increasing adoption makes it interesting for the long-term future.

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

[notocactus]

People generally focus on the short-term trend in the Bitcoin price action, yet sometimes it is good to look beyond that.

When you said this, it's time to forget about short term price prediction but it's not what you did or at least what you wrote here.

In my opinion, Bitcoin might remain volatile in the short-term perspective, but its fundamentals and increasing adoption makes it interesting for the long-term future.

Bitcoin market is volatile, and in short term, it is more volatile than what you can imagine as well as more risky for people who only focus on short term with trading in spot or gambling in margin and futures tradings.

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

The bear market is about one year and according to Bitcoin market cycle, it's not time for bear marketing completion so you will have a long and boring accumulation phase from now till some times like Q1 or Q2 2027 to see bear market and market warmup from bottom.

• Bitcoin market is like other markets, has its cycle. Focus on its cycle!

[pooya87]

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

After the crashes ended in the first week of June, the price remained in a tight range between $57k and $65k. That's almost two months. That looks like an accumulation phase to me while price goes sideways.

There is no indication of any large drops either, the current drop is huge already (down from $126k) so there is not much room left to go any lower. However, the reason that causes drops is still there. Which is the global economic hardship, the uncertainty and recession. If these things get worse, the sell pressure can rise again and we may re-test a support level again.
Otherwise with more stability and inflation on the rise, bitcoin price should go up.

[YellowSwap]

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

After the crashes ended in the first week of June, the price remained in a tight range between $57k and $65k. That's almost two months. That looks like an accumulation phase to me while price goes sideways.

There is no indication of any large drops either, the current drop is huge already (down from $126k) so there is not much room left to go any lower. However, the reason that causes drops is still there. Which is the global economic hardship, the uncertainty and recession. If these things get worse, the sell pressure can rise again and we may re-test a support level again.
Otherwise with more stability and inflation on the rise, bitcoin price should go up.

The current drop is big already just like you said but it can't be compared to what happened in the last bear market, this price ATH just got split into two, 126k to 60k, in the last bear market it was 69k down to 15k, that's like 4x down from. ATH high.

Why I wouldn't look down on what you are saying is the fact that we don't have ETFs approval in the last cycle of 2018 to 2021, so it will be complete stupidity to believe that we should go down more than just 60k

I'm in on bitcoin with 60% of all I have and the remaining 40% is for the possibility that this is another fake rally in work, we can still manage to get to 70k and tumble down to 48k, I am not ready to rule this out yet.

[EarnOnVictor]

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

Bitcoin is not yet in the accumulation phase, but of course, it is now gaining more liquidity injection, rather than liquidity withdrawal. This is normal after a market has been well-battered; it's a mere correction in my opinion.

Although one of my long-term analyses has confirmed a bullish return, I still strongly doubt this. Even if that were true, it would not happen without some fierce resistance from the sellers and even from the Bitcoin tradition itself, because the bearish season must complete its course, which I believe it hasn't completed yet.

[hugeblack]

Normally, before any deep correction (sharp decline) occurs, the price rises. Therefore, any short-term rise to $70,000 may not be a very good indicator. As long as the price is below $84,000, the possibility of further correction remains.

[ZeroVinsonN]

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

After the crashes ended in the first week of June, the price remained in a tight range between $57k and $65k. That's almost two months. That looks like an accumulation phase to me while price goes sideways.

There is no indication of any large drops either, the current drop is huge already (down from $126k) so there is not much room left to go any lower. However, the reason that causes drops is still there. Which is the global economic hardship, the uncertainty and recession. If these things get worse, the sell pressure can rise again and we may re-test a support level again.
Otherwise with more stability and inflation on the rise, bitcoin price should go up.

The current drop is big already just like you said but it can't be compared to what happened in the last bear market, this price ATH just got split into two, 126k to 60k, in the last bear market it was 69k down to 15k, that's like 4x down from. ATH high.

Why I wouldn't look down on what you are saying is the fact that we don't have ETFs approval in the last cycle of 2018 to 2021, so it will be complete stupidity to believe that we should go down more than just 60k

I'm in on bitcoin with 60% of all I have and the remaining 40% is for the possibility that this is another fake rally in work, we can still manage to get to 70k and tumble down to 48k, I am not ready to rule this out yet.

If we are looking at the drop compared to the previous ATH then you can see that the $69k to $15k drop was alot but when compared to the actual loss in value you will find that the $126k to even lower than $60k was a much lower drop, it's just that if a person bought during the former then they would believe that they holdings lost more value than the latter but strictly talking about bitcoin then the latter lost more value than the former.

[avp2306]

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

After the crashes ended in the first week of June, the price remained in a tight range between $57k and $65k. That's almost two months. That looks like an accumulation phase to me while price goes sideways.

There is no indication of any large drops either, the current drop is huge already (down from $126k) so there is not much room left to go any lower. However, the reason that causes drops is still there. Which is the global economic hardship, the uncertainty and recession. If these things get worse, the sell pressure can rise again and we may re-test a support level again.
Otherwise with more stability and inflation on the rise, bitcoin price should go up.

Looking on how market behave lately, this somehow shows that we are in wait and see situation. After seeing those huge corrections happen for past months, many traders stop doing risky actions and try to monitor the macro conditions dictates what will be the possible next trend to come.

This is maybe the reason why we see Bitcoin stays at current price level. But let see if either those buyer or sellers could able to break the current figures.

But let see what will be the situation on global scene, since if the economy will be in stressful or heavy situation. There's a chance that people will prioritize to liquidate their assets again. But if there's good situation or condition happen and more possible good news will came, maybe this will trigger for Bitcoin to go up again.

[Josefjix]

Have you forgotten how it got to $80k and went down to $59k some couple of months ago, the bear season is not done yet. What you should know is that, the price does not remain at the bottom because it's in bear season, it does move upward but not with full momentum despite the buy effect from institutional investors. The market already has a pattern and a cycle that has to be completed before getting to show some bullish signs.

[cryptomaniac_xxx]

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

After the crashes ended in the first week of June, the price remained in a tight range between $57k and $65k. That's almost two months. That looks like an accumulation phase to me while price goes sideways.

Correct, since the price goes down hard after reaching a all time high in this version of bull run, the accumulation phase should start from there. And it seems that we are trading around that $60k'ish, so it's good time to buy if others haven't done it.

Of course there is still a chance that the price could go down even further, but it's a bad practice trying to time the market. You don't need to wait, if you have the funds and you are dead serious investing on Bitcoin, this is still the right time to buy and accumulate.

[OgNasty]

I don’t think Bitcoin accumulation is starting… I think this is likely a dead cat bounce we are seeing now. Saylor is still planning to sell a ton of BTC. Today Jack Mallers stepped down as CEO of 21… The capitulation is very much still happening in slow motion. I suspect the price will follow to new lows shortly.

[Minor Miner]

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

I don't know, and I do not think anyone can answer that question with certainty because no one can predict the market accurately.
However, as you acknowledged, Bitcoin will become more attractive in the long run. With Bitcoin down about 50% from its ATH, this could be a good time to accumulate for a long term investment. That is what we should be focusing on right now, rather than spending too much time trying to predict the market.

Successful investor do not spend their time trying to predict the market or identify the exact top and bottom. Instead, they focus on managing risk and staying committed to a long term strategy.

[aoluain]

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

Yes and no

Yes there are people still accumulating, this essentially never stops.

No in general there are less people accumulating so generally speaking its not an accumulation
phase, that doesnt happen in a bear market - except right before the market crosses over into a
Bullish sentiment.

If we were in an accumulation phase there likely wouldnt be a bear market?

[Proty]

 The market offers more buying opportunity and with the way the market is going, I believe the chances of it dipping more is there . However, The issue of whether bitcoin is in accumulation phase or not depends on the investor because for those that will be holding for a long term they can buy bitcoin at any price without being bothered of whether it is bearish season or not.

[Ndabagi01]

What do you think?

Is Bitcoin currently in an accumulation phase, or will there be another large drop before the next bullish wave starts?

For the most times in this year, bitcoin has been very hard to predict and many people are just living by it as it comes to them everyday. The volatile nature of the market is also not showing any tangible signs of a bullish momentum now with all eyes on the market. The best time for accumulation is now, it is not guaranteed that a major crash would occur in the market soon, but many investors have seen this time as also a perfect entry time for the market and are just observing more in the market what could be the resultant of the market in the soonest. Whether you’re anticipating a drop in price of bitcoin or not, investing is what to start off when you have the money and not let the market decide for you when to invest.

[EluguHcman]

People generally focus on the short-term trend in the Bitcoin price action, yet sometimes it is good to look beyond that.
There are indications of an upcoming accumulation stage in Bitcoin after the recent correction. The overall market sentiment has turned cautious, weak hands have exited the market, and long-term holders are waiting for opportunities.

Short term trends only has the potential to influence user's reactions within the short term period.
Like now that price is recovering with the market felling exciting for beginners, the market narratives also changes with the difference atmosphere that comes around the hand of the short term.

More of enthusiasts would usually buy in the bull and panic to sell at the bear or Declines. That is where the FOMO comes. It is always that the immediate events has it short term influence on investors while the psychological modes is more of effective on investors with short term goals.

[alastantiger]

The market offers more buying opportunity and with the way the market is going, I believe the chances of it dipping more is there . However, The issue of whether bitcoin is in accumulation phase or not depends on the investor because for those that will be holding for a long term they can buy bitcoin at any price without being bothered of whether it is bearish season or not.

If you want to wait for when the market tells you to start accumulating then you might be late already because by then the investors that are investing for the long term have already bought as many Bitcoin as possible. When you wait on the market then you are late to the party hence it is better we start accumulating now instead of waiting on the market to tell us to do so. You make the best profits when you buy at a low price and the opportunity to do that is what we are currently in. Also as there is no guarantee that the market will not continue to correct, it is important to DCA so that you have some fiat left to buy again when the market falls.

[jossiel]

I suspect the price will follow to new lows shortly.

We'll wait until October since in the history of these bearish trends are likely to show at that month. Although this is just another speculation.

But the possibility for every bear market that it will have a possible lower low until the end of it or by the end of the year.

And if we're going to base into historical declines, I think that these sharp declines are starting to decrease in percentages.

Last year from ATH to this date it's around -47% although in the past days when it's below $60k then it's a bit higher.

Compared to the past years and bull runs, the decline were as big as -70% up to -80%.

PS: I just estimated it and not exact percentages.