Key Notes

Analysts say Bitcoin’s pullback is a normal cool-off after its +122% surge last year.

US-driven selling pushed the Coinbase Premium negative before it quickly flipped back to positive.

Falling prices paired with declining Open Interest show futures unwinding rather than real spot selling.

Bitcoin (BTC) holds prices near $89,000 as analysts argue the current pullback remains within the boundaries of a healthy cycle correction rather than a full-blown crypto winter.

Bloomberg ETF analyst Eric Balchunas said in a post on X that Bitcoin only gave up the excess created last year after a +122% rise. He added that even if 2025 closes flat or slightly lower, the asset will still maintain its average annual gain of 50%.

“Assets are allowed to cool off once in a while, even stock

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