PANews reported on January 14 that according to CoinDesk, Tom Lee, head of research at Fundstrat and a Bitcoin bull, told CNBC on Monday that he believed the current adjustment of Bitcoin was normal. He said: "As a volatile asset, Bitcoin has fallen 15% from its highs, which is a normal adjustment." Glassnode data shows that Bitcoin's decline in this cycle is relatively mild, about 15%-20%, much smaller than the 30%-50% decline during the previous bull market, indicating that the asset is becoming more mature.

According to Lee, $70,000 is an important dividing line and a strong support level. They mentioned a method called Fibonacci levels or retracement periods, which essentially refers to the position where Bitcoin retraces from the starting point of the upward trend. Lee also believes that if the previous $70,000 level cannot be maintained, the $50,000 level may be tested. Analysts usually look for Fibonacci levels such as 23.6%, 38.2%, 50%, and 61.8% from the historical high.

Despite the short-term pullback, Lee still believes that Bitcoin will be one of the standout assets in 2025 and continues to be bullish on reaching a target price of $200,000 to $250,000 by the end of the year.