Bitcoin is just one impulse away from finishing its correction — Here’s how

The price of Bitcoin has extended its correction after the FOMC rate cut. The currency has dropped around 13% in the last 30 days and nearly 4% in the last week. The movement still fits within a slow and steady corrective phase since the peak in October.

But two changes on-chain are now showing something that hasn’t appeared at any previous point in this decline. These signals suggest that the correction could be close to a turn, if Bitcoin delivers the momentum it needs.

Two metrics are now pointing towards a possible turn

Short-term capitulation is clearly showing now. The realized profit and loss data from CryptoQuant shows that short-term Bitcoin holders are still deeply in losses. This usually occurs near the end of a correction, not in the middle, because panic selling at a loss often marks exhaustion in the final stages.

This aligns with what appears in the HODL Waves.