Bitcoin (BTC) has been consolidating above $35,000 for multiple days, with bulls struggling to push the price above $38,000, indicating reluctance to buy at higher levels. BitGo CEO Mike Belshe suggested that there might be more rejections of spot Bitcoin exchange-traded fund applications before any are approved. Analysts predict a near-term correction for Bitcoin, with the worst case scenario projecting a drop to $30,000. However, this is unlikely to start a bearish phase, as data suggests that the Bitcoin bull market is still in its early stages, showing no signs of FOMO yet.
As Bitcoin takes a pause, some altcoins are experiencing pullbacks, while others show signs of resuming their uptrends. Applications filed for a spot Ether ETF by Fidelity and BlackRock indicate strong demand for investment in select altcoins.
The article then delves into price analysis for Bitcoin, Solana (SOL), Chainlink (LINK), Near Protocol (NEAR), and Theta Network (THETA), emphasizing that this information does not contain investment advice and warning readers to conduct their own research before making any financial decisions.
