Analysts see BTC dip as a correction, not a reversal

Despite Bitcoin's slight weakness, many analysts view the movement as a simple correction rather than a trend reversal, The Block reported, citing multiple experts. Justin d'Anethan, an analyst at Arctic Digital, stated that BTC's current price action appears to be a pause in its uptrend. He explained that while short-term holders have taken profits and some leveraged long positions have been liquidated, the holdings of long-term investors remain stable. D'Anethan added that spot ETF inflows are still strong, describing the current market structure as healthy and suggesting that future moves will likely depend on macroeconomic factors like the strength of the U.S. dollar and Federal Reserve interest rate decisions. Vincent Liu, Chief Investment Officer at Kronos Research, noted that long-term BTC holders are continuing to accumulate their positions and that the "Uptober" narrative remains valid for this year.