Bitcoin price drop is normal, 143 thousand dollars is on the way.

In recent days, the decline in Bitcoin's (BTC) price has created concern among investors; however, analysts indicate that this situation is quite normal. Bitcoin's price has slightly pulled back due to sell-offs from the FOMC meeting, coming from the $116,000 level, but it has found strong buying interest around $112,500. As of today, the price is stabilizing around $113,000, while analysts express a common view that if the $112,000 level is maintained, the upward trend may continue.

Crypto analyst Ali Martinez emphasized that if Bitcoin exceeds the $120,000 level, there is a void of up to $143,000 in his model. According to Martinez, once the price passes this threshold, it will enter an area that has not seen significant trading in the past, and because "there is less traffic above," the upward movement will gain momentum more quickly. This assessment is based on price bands formed from long-term on-chain averages, showing that the $120,000 level intersects with one of these bands.

Popular analyst Michaël van de Poppe describes the recent decline as a simple correction. According to Van de Poppe, there is no need to panic as long as Bitcoin maintains the $112,000 level as support. The analyst states that a new upward momentum could begin with the breakout of the $115,600-$116,200 band.

According to Glassnode data, most investors purchasing Bitcoin in recent weeks have made their purchases around $111,000. However, it is noted that there is strong selling pressure around $117,000. This situation indicates that the price is currently stuck in the $111-$117 range, and any movement outside this band will determine the direction. Analysts emphasize that volatility may increase after the FOMC meeting, but as long as the price remains above $112,000, the market will generally maintain its upward trend.