The analyst revealed what he expects in Bitcoin from now on! "Is a stronger correction on the way?"

Bitcoin (BTC), had a historic day on Monday, breaking records one after another and surpassing 123 thousand dollars. However, the new ATH joy was short-lived. After briefly exceeding 123 thousand dollars, BTC started to get dumped and fell to levels around 116 thousand dollars.

While the market agrees that this correction is due to profit-taking and is normal, it diverges on which direction the price will move next.

At this point, 21 Shares analyst Matt Mena evaluated the rise in Bitcoin and the subsequent get dumped.

Matt Mena stated that a sharp get dumped in Bitcoin is unlikely due to the strengthening of institutional demand.

Mena stated that the likelihood of Bitcoin experiencing a long-term sharp get dumped due to increasing demand and shrinking supply is very low.

The analyst stated that the historical supply of Bitcoin is at a record low level and that the spot BTC ETFs have taken several times the amount of BTC expected to be issued this year.

"In the Bitcoin chart, a structural imbalance is observed between rapidly decreasing supply and increasing demand.

Despite the amount of Bitcoin held on exchanges and over-the-counter platforms being at historical lows, demand continues to rise. US Bitcoin ETFs have absorbed several times the amount of Bitcoin that will be issued this year in just the first half of the year.

As a result, I can say that a long-term correction in Bitcoin is impossible because there are many more positive factors than negative ones.

However, although the Mena table is positive, it warned that potential customs tariff policies of U.S. President Donald Trump and delays in the FED's interest rate cuts could lead to a correction in risky assets, including BTC.