Over the past 24 hours, the global crypto market fell 2.8%, sliding to $3.92 trillion. Bitcoin also dipped below $111,000, showing weakness across the market. Despite the red, veteran trader Matthew Dixon sees opportunity, suggesting this dip could be a prime “buy-the-dip” zone, setting Bitcoin up for its next upward move.
According to Dixon’s chart analysis, the current Bitcoin price could offer a good chance to buy and accumulate positions. The largest cryptocurrency has dropped by 3.08%, reaching $110,735.02. Its market dominance has also fallen slightly to 58.2%.
As of now, it is trading in a key “buy-the-dip” range between $108,000 and $110,000. Dixon notes that as long as Bitcoin stays in this zone, the overall bullish trend remains intact.
Supporting this view, Veteran crypto trader Michael van de Poppe also believes that the current dip is a potential opportunity to accumulate BTC. Additionally, trading volume patterns on the charts strengthen this outlook, suggesting that buyers could step in at these levels.
What makes Dixon’s analysis different is his calm approach. He doesn’t panic over short-term drops and sees the pullback as a normal part of the market cycle. According to him, “Bitcoin is still bullish,” and the chart shows that after this correction, the next move could take it toward $120K.
For traders, this dip could be a good chance to buy before the next rise.
Furthermore, Dixon points out that Ethereum and other major altcoins have dropped along with Bitcoin. However, in the past 24 hours, 166,122 traders were liquidated, totaling $837.79 million.
Meanwhile, this kind of broad weakness can create rotation opportunities for traders. Dixon highlights that lower liquidity in altcoins can make their price moves sharper when buyers return.
Yes, analysts view the drop to ~$110K as a prime “buy-the-dip” zone, suggesting it sets up the next upward move toward $120K.
Altcoins followed Bitcoin’s drop, causing significant liquidations. However, their lower liquidity can create sharper rebound opportunities when sentiment shifts.
Analysis suggests that after this corrective dip, Bitcoin’s next major move could be a push back toward the $120,000 price level.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Story Highlights The live price of the ETC crypto is . Ethereum Classic coin Price…
Story Highlights The PENGU price today is The token could hit $0.046 in 2025 and…
Story Highlights The live price of the ICP crypto is . Internet Computer price could…
The crypto market has faced one of its longest and toughest periods for altcoins. Many…
The long wait for XRP exchange-traded funds (ETFs) is nearly over. Both Bitwise and Canary…
The odds of the ADA/USD price reaching $1 have increased as November begins. The Cardano…
