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Bitcoin can hit $40K before BTC price sees 'harsh correction' — analyst

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BTC price action heads lower on the day, but strength is still there beyond the short term, says Michaël van de Poppe.

Bitcoin (BTC) faced selling pressure at the Feb. 21 Wall Street open as United States' stock markets opened down.

011f1e8c-1ad4-43cf-8b87-4ee3a164fe13.pngBTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC price skids lower with US stocks

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to daily lows of $24,324 on Bitstamp.

Bearish signals were already in for the pair after it saw swift rejection during its latest attempt to flip $25,000 to support.

Amid suspicions over whale movements on exchanges, monitoring resource Material Indicators concluded that the 200-week moving average (MA) at $25,100 needed to become support for Bitcoin to change its long-term trend.

"IMO, until we see full candles above the 200 WMA this is still distribution in a bear market rally, and with the bid wall above $24k, shorting from this level has about as much short term risk as longing," it wrote in part of comments in its latest Twitter update.

An accompanying chart of the Binance order book showed liquidity moving closer to spot price prior to the Wall Street open.

8c096fe8-ed06-48ca-9c2d-112db13e397e.pngBTC/USD order book data (Binance). Source: Material Indicators/ Twitter

Caleb Franzen, senior market analyst at Cubic Analytics, meanwhile had a bearish prognosis for the S&P 500 in particular, with risk asset performance still liable to weigh on crypto.

"The S&P 500 is gapping lower, trading decisively below my $4,080 line in the sand," he summarized alongside a chart on the day.

"A retest of the 200-day moving average cloud is likely, which will be a vital support level."
4a0f9842-17ce-4284-9979-d0488d464ca0.pngS&P 500 annotated chart. Source: Caleb Franzen/ Twitter

The S&P 500 was down 1.3% at the time of writing, while the Nasdaq Composite Index was 1.7% lower.

The U.S. dollar index (DXY), despite being broadly inversely correlated with stocks and crypto, also took a hit at the open, dropping to 103.77 before rebounding.

e4359a06-ddd3-4bc9-9cf7-01751f2cf5a5.pngU.S. dollar index (DXY) 1-hour candle chart. Source: TradingView

"USD higher highs and lows have held through much of Feb. 103.82 as support in DXY, current higher-low," part of commentary from trader and stategist James Stanley read.

Stanley additionally noted the minutes from the Federal Reserve's Federal Open Market Committee (FOMC) as a potential market catalyst. Due on Feb. 22, the minutes reflect the February FOMC meeting, as a result of which the Fed raised its key interest rate by 25 basis points.

BTC price corrections "relatively shallow"

Adopting an optimistic short-term view, meanwhile, Cointelegraph contributor Michaël van de Poppe, CEO and founder of trading firm Eight, was confident that the current dip would be a temporary one.

Related: Bitcoin active addresses ‘concern’ analyst despite 50% BTC price gains

"Markets correcting, which is great for people who look for entry points. Might go down a bit more from here before we'll turn around. Week of consolidating before continuation," he told Twitter followers.

"FOMC minutes tomorrow as well. Remember, investment wise, still super cheap for Bitcoin."

Chart analysis from Van de Poppe showed BTC price action acting within a narrowing wedge construction, with a key area of support below stretching to $22,500.

00f1e49b-54af-454f-9c7c-1caf99e8274d.png

The day prior, his longer-term forecast called for higher highs before a more substantial correction, this nonetheless still apt to take Bitcoin back to $20,000.

"Corrections remain to be relatively shallow. I think that we'll continue the run towards $35-40K before we'll have a harsh correction, maybe even to $20-25K. Maximize profits, start allocating towards $USDT the higher we come, buy on the correction in second half of 2023," he wrote.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Source

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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