Bitcoin Price Decline Not a Guarantee of Another 30% Correction

The Bitcoin price has been declining in recent days, dropping by 2.27% to $83,509.77 over the past 24 hours.

This decline is largely attributed to rising Treasury yields and renewed rate-hike fears that are weighing on risk assets.

Rising economic data and higher bond yields have also put pressure on the crypto market, with the U.S. 10-year Treasury yield reaching its highest level since 2007 at 5.13%.

However, analyst Rekt Capital has argued that traders should not automatically expect another 30% correction in Bitcoin's price.

This is based on an analysis of the 2022-2025 cycle, which suggests that pullbacks above 30% occur during the post-halving period, while pre-halving retracements are typically only a little above 20%.

Rekt Capital's analysis indicates that a 30% decline from current levels would put Bitcoin near $58,500, but this should not be treated as an automatic outcome. Instead, the next key test is whether the Bitcoin price can regain the $84,000 area as ETF demand remains strong despite elevated yields.