Bitcoin Price Analysis: BTC Correction Over? Here’s What Signals a New ATH

Key Points

1. Bitcoin recently dropped below the $116K mark and is now consolidating sideways, reflecting market hesitation ahead of the FOMC meeting.

2. The FOMC meeting on Wednesday is expected to trigger significant volatility depending on the Fed's rate policy decision, which could influence Bitcoin's price movement.

3. BTC's corrective drop was absorbed near the $115K Fibonacci retracement zone, prompting a potential reversal if momentum continues toward $123K.

4. A notable spike in Binance Whale Inflows was recorded on July 25th, with over $1.2 billion, signaling a major shift in Bitcoin's market dynamics.

5. If Bitcoin rebounds from current support levels, it could retest $121K and potentially reach new all-time highs, while failure to hold support may lead to further downside toward $110K.