Market Correction Could Push Bitcoin to $47K

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The crypto market may have further to fall according to one prominent technical analyst who has fingered futures traders for exacerbating the losses. 

Bitcoin prices could potentially drop to around $47,000 in this market correction, according to technical analyst Willy Woo.

That scenario would result in an overall retrace of 36%, which is also not unheard of in bull market cycles.

On July 8, Woo posted a market overview to his 1.1 million followers on X, concluding that markets had entered a macro consolidation phase but had not ruled out further drops.


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