BTC could correct to $40,000

Andrew Kang, co-founder of crypto investment firm Mechanism Capital, told X: "The current market is similar to May 2021. However, this time around, we don't have the massive crypto futures liquidation that we had back then. Given this, my previous BTC price forecast of $50,000 is too conservative. A correction to $40,000 is more likely. In this case, the market will take a significant hit and will need to recover for several months."