Bitcoin falls back to $95,000 but ”the bull market is not over”

Bitcoin (BTC) prices have been fluctuating this week since the Federal Reserve's interest rate decision last week. However, some analysts believe the recent price fluctuations are just a temporary correction and Bitcoin is still on the rise.
At 10 a.m. on the 27th, the price of Bitcoin was down 3.33% from the same time the previous day to $95,661 (about 15
Bitcoin, which fell to $92,509 on the 24th, exceeded $99,000 in the morning before Christmas. However, it regained some of its gains on the same day.
The price of Bitcoin has been fluctuating since the Federal Reserve announced last week that it will adjust the pace of interest rate cuts next year and will not hold Bitcoin.
When the base interest rate falls, investment sentiment towards risk assets increases, and cryptocurrency prices rise. Bitcoin spot ETFs traded in the United States are also seeing continued outflows.
Approximately $338.4 million was withdrawn from the Bitcoin spot ETF during the past trading days, marking the fourth consecutive day of net outflows. However, there are analysts who believe that the price of Bitcoin will not fall significantly.
Cryptoquant CEO Joo Ju-kyung said in a post on X the previous day, "According to on-chain data, crypto assets are in a bull market, with $7 billion inflows in the last week.
"It's clear that the bull market is not over yet," he said. "We may see a correction, but there is a chance that Bitcoin could fall by 30% or more while the bull cycle continues."
"The likelihood of a bubble is very low," he said, emphasizing that "it is not a bubble right now." Meanwhile, on this day, investment sentiment towards crypto assets was in a state of "extreme greed." The crypto asset fear and greed index was down 6 points from the previous day.
The index rose to 79 points. The closer it is to 100, the greater the demand.