Bitcoin's Price Correction Targets and ETF Outflows: A Brief Analysis

Bitcoin's recent attempts to breach the $70,000 mark have led to speculation about its next price trajectory, with trading expert Alan Santana outlining potential correction targets at $61,000, $53,500, $47,135, $40,200, and $33,525. Despite forecasting a temporary downturn, Santana sees it as a healthy market adjustment and foresees substantial growth for the cryptocurrency market in 2024 and 2025. Bitcoin's current value is at $66,940, with challenges in reclaiming the $70,000 mark partly attributed to significant outflows from certain spot exchange-traded funds. Maintaining valuation above $60,000 remains crucial, as a drop below this level could signal further correction.