Bitcoin and other cryptocurrencies have seen some pretty sharp dips lately, and naturally, some folks are wondering if the bear market has arrived sooner than expected. But relax, analysts are stepping in to say this is all perfectly normal.

Even though Bitcoin’s price took a tumble last week – we’re talking over 14% down after President Trump’s executive order back on March 7th – experts assure us that these kinds of pullbacks are not only normal but actually healthy within a bull market.

Market watchers are calling this a “macro correction” happening within the current bull run, and they’re even suggesting that this dip could go as low as $70,000.

According to Aurelie Barthere, an analyst at Nansen, the next crucial support level to watch is between $71,000 and $72,000. She points out that wider market jitters, like worries about tariffs and the possibility of a recession, are weighing on investors right now.

Barthere also pointed out that Bitcoin, along with many altcoins, has broken through some important support levels. This makes it trickier to predict exactly where prices will land next, as she explained:

“This is just a macro correction happening, so no need to panic. The next level to watch is $71,000 to $72,000, which was the high point before the election trading range.

We’re still in a bull market vibe, just going through a correction phase at the moment.

“Right now, both stocks and cryptocurrencies are reflecting some uncertainty around tariffs and potential government spending cuts, especially with less support from the Federal Reserve. Recession fears are bubbling up, and this correction is a result of all that.”

Adding to this perspective, Iliya Kalchev from Nexo suggests that Bitcoin might even dip below $70,000. However, he thinks this could actually create a stronger base for the next price surge.

And finally, Arthur Hayes, co-founder of BitMEX, chimed in, predicting Bitcoin could bottom out around $70,000. He added, “Hang tight. Bitcoin will likely hit its low around $70,000. A 36% correction from the $110,000 all-time high is totally normal in a bull market.”

*This is not investment advice.