Bitcoin (CRYPTO: BTC) reclaimed the $91,000 level on Tuesday, lifted by renewed ETF activity and a wave of short liquidations that accelerated the move higher.
What Happened: Crypto analyst Kevin noted in an X post on Monday that Bitcoin’s current volatility is typical of a late-stage correction, now roughly 127 days in, where price swings intensify just before a proper bottom forms.
He expects BTC to carve out that bottom “within the next few weeks,” followed by a meaningful counter-trend rally.
Kevin criticized traders who pinned hopes on the end of quantitative tightening (QT), arguing the real headwind has been global bond markets responding to potential Bank of Japan rate hikes.
These macro pressures have driven carry-trade stress and risk-off sentiment, a dynamic he believes should ease by mid-to-late December once central banks issue fresh guidance.
Kevin is watching the upcoming 3-day candle close, calling for Bitcoin to hold above $91,000. Navigating this phase, he says, requires patience and emotional discipline.
Also Read: Bitcoin Back In The $80,000s Feels Painful, But The Worst Part Is Over
Why It Matters: Santiment data shows Bitcoin’s jump to $91,000 has quickly flipped crowd expectations from bearish to optimistic, an abrupt sentiment turnaround that often precedes choppy price action.
Meanwhile, ETF activity surged.
Bloomberg’s Eric Balchunas noted Bitcoin spiked roughly 6% at the U.S. market open, the first session after Vanguard lifted its Bitcoin ETF trading ban, hinting at unexpected demand from typically conservative Vanguard clients.
BlackRock’s IBIT also posted nearly $1 billion in volume within the first 30 minutes.
Together, renewed ETF participation and macro stabilization could set the stage for Bitcoin’s next major move, once this correction finally bottoms out.
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Bitcoin, Ethereum, XRP, Dogecoin Steady As Crypto Market Hovers Around $3 Trillion Valuation
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$BTCBitcoin – United States dollar$92104.016.72%OverviewMarket News and Data brought to you by Benzinga APIs
