{"id":88111,"date":"2023-12-11T13:47:05","date_gmt":"2023-12-11T11:47:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=88111"},"modified":"2025-09-13T16:00:49","modified_gmt":"2025-09-13T13:00:49","slug":"experts-explain-the-reasons-for-the-correction-and-see-opportunities-for-altcoins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/experts-explain-the-reasons-for-the-correction-and-see-opportunities-for-altcoins\/","title":{"rendered":"Experts explain the reasons for the correction and see opportunities for altcoins"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Experts noted signs of Bitcoin&#8217;s decline even before volatility began.<\/li>\n<li>High nonfarm payrolls and falling unemployment in the United States could have influenced the asset&#8217;s momentum.<\/li>\n<li>The pullback in the leading cryptocurrency could presage the start of an altcoin season.<\/li>\n<\/ul>\n<\/div>\n<p>On December 11, Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-slips-below-the-42000-level\">fell below the $42,000<\/a>, sliding about 7%. Analysts cited the release of US macro data and prepared for a possible continuation of the drop.<\/p>\n<h2 class=\"wp-block-heading\"><strong>What preceded the correction<\/strong><\/h2>\n<p>Since early October, digital gold has risen more than 70%, and many in the crypto community had warned of an imminent slowdown in the rally.<\/p>\n<p>Even before the volatility began, DecenTrader noticed a rapid rise in funding rates \u2014 a classic signal of looming instability.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> funding rates were flat during the move up to $44k, but are now climbing rapidly as price goes sideways ? <a href=\"https:\/\/t.co\/QzjDKBA1K4\">pic.twitter.com\/QzjDKBA1K4<\/a><\/p>\n<p>\u2014 Decentrader (@decentrader) <a href=\"https:\/\/twitter.com\/decentrader\/status\/1734021246084350132?ref_src=twsrc%5Etfw\">December 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abLet&#8217;s just be clear: this year we&#8217;ve grown a lot&#8230; (from $16,000), and a correction is expected. I really like this development, so this is definitely not a call to buy. It would be nice to have a deep correction caused by <span data-descr=\"Fear, uncertainty and doubt \u2014 fear, uncertainty and doubt\" class=\"old_tooltip\">FUD<\/span>, and it is overdue,&#8221; said on December 9 by the head of DecenTrader under the nickname FibFilb.<\/p>\n<\/blockquote>\n<p>However, he noted that the probability of a drop to $25,000 is &#8220;very low,&#8221; and for that to happen, &#8220;some global catastrophe&#8221; would have to occur.<\/p>\n<p>The crypto trader known as BitQua also expected a possible correction, but still sticks to a forecast of $48,000 by the end of December.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The daily and weekly close was at $43,792. Pullbacks are normal and even healthy. Hourly fluctuations mean nothing. This project is for the week. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/1XujRIX17p\">https:\/\/t.co\/1XujRIX17p<\/a><\/p>\n<p>\u2014 BitQuant (@BitQua) <a href=\"https:\/\/twitter.com\/BitQua\/status\/1734082095394251032?ref_src=twsrc%5Etfw\">December 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abA pullback is normal and even healthy. Hourly fluctuations mean nothing,&#8221; he emphasised.<\/p>\n<\/blockquote>\n<p>Co-founder of MN Trading Micha\u00ebl van de Poppe urged the community not to worry. He said corrections occur, and especially deep ones happen in illiquid altcoin markets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Markets do have corrections and with <a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&#038;ref_src=twsrc%5Etfw\">#Altcoins<\/a>, they\u2019ll be deep as markets are illiquid.<\/p>\n<p>Don\u2019t stress out. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> momentum is slowly getting towards the end, through which <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> is easily going to take over next quarter.<\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1734102836290425169?ref_src=twsrc%5Etfw\">December 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abBitcoin momentum is gradually moving toward the end, and Ethereum will easily take the lead in the next quarter,&#8221; he added.<\/p>\n<\/blockquote>\n<p>After a brief drop to $40,400, a wave of liquidations swept the market. According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">Coinglass<\/a>, $400 million worth of positions were forcibly liquidated in the past 24 hours, of which $344 million were longs.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/TEfSUghAvGf6I7JCxtz5oaP0BNWMDks3-f2HRG7AsM5xOr8DajeApB87kxlF6cSGdVfiAzbhgFJUxoqC3QdHvTNqCMC0uvNptXNcW5L2xfSKO_18XO45D1czMFMGciOZvDI_w1PGwj34V4vMtRbITaw\" alt=\"Experts explain the reasons for the correction and see opportunities for altcoins\"\/><figcaption class=\"wp-element-caption\">Liquidation map. Data: Coinglass.<\/figcaption><\/figure>\n<p><strong>Causes of the pullback<\/strong><\/p>\n<p>According to <a href=\"https:\/\/www.coindesk.com\/markets\/2023\/12\/11\/btc-eth-sol-and-major-altcoins-begin-asia-business-day-in-deep-red\/\">the remarks<\/a> by Greta Yuan, head of research at VDX, the correction occurred as nonfarm payrolls and the unemployment rate in the US came in higher than expected.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u00abThe strengthening of the labor market has somewhat dimmed the hopes for a Fed cut early next year. Gold prices also fell as the US dollar index rose,&#8221; she clarified.<\/p>\n<\/blockquote>\n<p>Additionally, MetAlpha believes that the CPI release scheduled for this week and the Fed meeting potentially could lead to further corrections.<\/p>\n<p>Analyst Willy Woo allowed for Bitcoin to fall further to $39,700.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> CME Gap at 39.7k\u2026<\/p>\n<p>By my count 28 out of 30 gaps have been filled on CME daily candles (93%). The other unfilled gap is pictured in the lower left of this chart also. <a href=\"https:\/\/t.co\/EyccaJTTkr\">pic.twitter.com\/EyccaJTTkr<\/a><\/p>\n<p>\u2014 Willy Woo (@woonomic) <a href=\"https:\/\/twitter.com\/woonomic\/status\/1732552879800737989?ref_src=twsrc%5Etfw\">December 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He pointed to a price gap at this level formed on the daily Bitcoin futures candle on the Chicago Mercantile Exchange. In his view, such gaps have historically been filled, and the price tends to return to that level.<\/p>\n<p>Crypto analyst and co-founder of Reflexivity Research Will Clemente said that the correction and volatility purge \u201cthe market of weak hands,\u201d and that the reduction in leveraged funds frees room for further growth.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BTC just ~doubled in 2 months with no pull backs, a correction is not that surprising. <\/p>\n<p>Corrections shake out \u201cweak hands\u201d and leverage, allowing for a stronger foundation for eventual moves higher.<\/p>\n<p>Bitcoin\u2019s volatility is a feature, not a bug.<\/p>\n<p>Chill with the leverage ? <a href=\"https:\/\/t.co\/BdvvS8KDZU\">https:\/\/t.co\/BdvvS8KDZU<\/a><\/p>\n<p>\u2014 Will (@WClementeIII) <a href=\"https:\/\/twitter.com\/WClementeIII\/status\/1734037159647023543?ref_src=twsrc%5Etfw\">December 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Crypto trader RamenPanda saw signs of an altseason in the recent price dump. He added that Bitcoin will need a long period to resume its uptrend, as the asset&#8217;s dominance has peaked.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I told you about flash dumps repeatedly <\/p>\n<p>Now dump is completed <\/p>\n<p>It will take a long period of chops for Bitcoin to resume uptrend <\/p>\n<p>Bitcoin dominance topped <\/p>\n<p>We now entering proper ALT SEASON<\/p>\n<p>BE POSITIONED <\/p>\n<p>Tears of regret don\u2019t taste great<\/p>\n<p>\u2014 RamenPanda (@IamRamenPanda) <a href=\"https:\/\/twitter.com\/IamRamenPanda\/status\/1734038730623877461?ref_src=twsrc%5Etfw\">December 11, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, industry veteran and Blockstream CEO Adam Back <a href=\"https:\/\/u1f987.com\/en\/news\/adam-back-forecasts-bitcoin-to-hit-100000-in-coming-months\">predicted<\/a> Bitcoin to reach $100,000 ahead of the upcoming April 2024 <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-bitcoin-halving\">halving<\/a>.<\/p>\n<p>Recall that CryptoQuant experts allowed for a break above the <a href=\"https:\/\/u1f987.com\/en\/news\/cryptoquant-analysts-forecast-bitcoin-at-50000-in-early-2024\">$50,000<\/a> level in early 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 11, Bitcoin fell below the $42,000 level, sliding about 7%. Analysts cited the US macro data release and prepared for a possible continuation of the drop.<\/p>\n","protected":false},"author":1,"featured_media":88112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1150],"class_list":["post-88111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=88111"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88111\/revisions"}],"predecessor-version":[{"id":88113,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/88111\/revisions\/88113"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/88112"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=88111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=88111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=88111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}