Bitcoin Price Decline: A Close Look at the Recent Downturn Following ETF Approval
In the aftermath of the Bitcoin spot exchange-traded funds (ETF) getting a green light in the U.S, the Bitcoin price has seen a noteworthy plunge of around 10%, equating to approximately a $4,000 drop. This has sparked a discussion among investors regarding the potential depth of the Bitcoin price drop in the near future. This scenario has triggered an increasing ‘sell-the-news’ mindset in the market. The latest pattern of Bitcoin’s price movement indicates a consolidation within an upward channel, suggesting a possible continued sell-off in the forthcoming days or weeks. The crucial question that arises now is, what’s the lowest point the Bitcoin price can reach?
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