Bitcoin (CRYPTO: BTC) has broken below $115,000, prompting traders to look out for buying opportunities.
What Happened: Crypto trader Astronomer noted Bitcoin's move was expected, aligning with the surge in Bitcoin Dominance (BTC.D), which now sits at 62% and could climb further.
The trader views the correction as constructive, noting that broader market sentiment is tilting toward capitulation and despair, often a sign of an upcoming reversal.
Astronomer plans to re-enter the market after deeper dips and further BTC.D expansion.
In an earlier post, he called the drop "no big deal," suggesting it’s just another opportunity to reload leverage and reclaim exposure that was trimmed near $119,000.
Also Read: Michael Saylor Says Owning Up To 7% of Bitcoin Isn’t ‘Too Much’ Since ‘The Future Is Orange’
What's Next: Another prominent analyst, Emperor, highlighted $112,000 as a critical support.
If Bitcoin reaches this level, he expects algorithms to begin bidding, while retail traders may either cover shorts or enter leveraged longs.
A strong bounce from there could re-ignite bullish momentum.
Scott Melker added a cautionary note, pointing to a bearish divergence and overbought RSI on BTC's daily chart — a combination often followed by a pullback toward oversold conditions.
Trader Stoic urged followers to zoom out and maintain perspective, hinting that short-term dips may be noise within a broader bull trend.
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