In recent trading sessions, Bitcoin experienced a correction that caused its value to reach $61,000, signaling potential downside for the popular digital asset, according to market analyst Santana. Santana believes that this correction could lead to further bearish movement in the cryptocurrency market.

Highlighting the high probability of this trade setup, Santana emphasized the strong bearish potential in the market. Based on chart analysis and historical data, Santana predicts that a downward move is likely to occur next.

Santana also outlined specific targets for this anticipated correction. After the first target of $61,000 is hit, subsequent targets are expected at $53,500, $47,135, $40,200, and $33,525. However, Santana considers this correction a healthy and necessary adjustment in the market.

The analyst sees this as an opportunity for seasoned investors to buy back at lower prices and for new entrants to enter the market. Santana believes that the downward movement will only be temporary, and the market will eventually resume an upward trajectory.

Looking ahead, Santana forecasts substantial growth for the cryptocurrency market, including Bitcoin, in the coming years. The analyst identifies 2024 and 2025 as potentially pivotal years for the market's expansion.

It is important to note that these projections come after Bitcoin briefly touched the $68,000 mark, driven by the policy decisions of the latest U.S. Federal Reserve meeting. The Federal Reserve's decision to maintain interest rates at current levels and the suggestion of possible rate cuts throughout the year had a positive impact on global stocks and cryptocurrencies.

However, Bitcoin is currently struggling to reclaim the $70,000 mark, partly due to significant outflows from certain spot exchange-traded funds (ETFs). At present, Bitcoin is valued at $66,940, marking a gain of over 6% in the last 24 hours. Nevertheless, BTC has experienced an 8% decline over the past seven days.

In summary, the ability of Bitcoin to maintain a valuation above the $60,000 mark will be crucial in monitoring its future movements. A drop below this level may indicate further corrections in the market.

Disclaimer: The content provided in this article should not be considered investment advice. Investing in cryptocurrencies carries risks, and investors should be cautious.