Expert: Bitcoin drop is likely the final adjustment before hitting $100,000

While Bitcoin prices have fallen to as low as $92,000, crypto market analysts remain positive.
Bitcoin hit an all-time high of $99,655 on the 22nd (local time), then fell by about 7% to $92,868 on the 26th.
As of 3:15 p.m., Bitcoin had recovered some of its losses and was trading at $94,677. Despite the decline, analysts say Bitcoin is now
"We're optimistic that we'll reach six figures by the end of the year," said Markus, founder and CEO of 10x Research.
Thielen said: "Bitcoin is in a consolidation phase ahead of the long Thanksgiving holiday weekend, as traders look to boost implied volatility.
"Bitcoin tends to weaken at the end of the month, which helps to mitigate overbought technical conditions," he added.
Thielen said macroeconomic factors such as strong economic growth data make it more likely that the Federal Reserve will freeze interest rates in December, which could impact risk assets.
"Despite these short-term headwinds, we believe Bitcoin will hit 100,000 within a few weeks," he said.
We are confident that we will surpass the $1.5 billion milestone and maintain a positive outlook through 2025,” he explained.
Trader and analyst Bluntz also told his 298,000 X (formerly Twitter) followers, "It's going to get better from here.
"I think it's going to go up, and it's not going to go down as much as people think it will," he said, echoing the sentiment. Other X users have also described this as a final correction before a big surge in BTC.
Charlie Sherry, head of financial and cryptocurrency analysis at Markets, said Bitcoin's drop to $93,000 was a "retroactive recovery after a steep rise."
"This can be understood as part of a historical pattern of a complete correction," he told Cointelegraph. Such corrections are a cyclical pattern in which markets consolidate profits and reduce leverage.
"This represents a major step forward and lays the foundation for further upside," he added. He predicted that this correction may be the last before Bitcoin breaks out into six figures.
"The drop to $92,600 is consistent with this trend and suggests that this could be the final correction before Bitcoin eventually rises above $100,000," Shelley said.
CK Zheng, co-founder of ZX Squared Capital, said $100,000 will be a strong resistance level for Bitcoin in the short term.
He said, "This psychological barrier may cause some long-term holders to reduce their Bitcoin holdings, and the market may be in a consolidation phase after the big moves following the US election."
He added, "I think this correction is healthy, but the correction will be relatively shallow. A 20% correction would provide a good entry point for new long-term investors."
Zheng added, "I expect Bitcoin to break through the $100,000 milestone in the coming months, which is likely due to the new Trump administration's efforts to regulate virtual currencies in the United States."
"This is to promote currency-friendly rules and regulations."