Bitcoin recently experienced a $6,000 drop within a few hours, bringing its price below the $92,000 threshold. This sudden decline represents a 7% decrease in 24 hours, raising concerns about the market's stability.
Additionally, the Bitcoin ETF, which had previously seen consistent inflows, broke its streak by losing over $435 million. This shift in ETF behavior reflects growing apprehensions among investors regarding Bitcoin's trajectory and market strength.
Further adding to the concern is the RSI (Relative Strength Index) technical indicator for Bitcoin, which has fallen below the overbought range for the first time in 19 days. This indicates a substantial market correction, highlighting the volatility and challenging nature of Bitcoin's current price movements.
Despite these shifts, conversations continue on whether Bitcoin can recover and potentially cross the significant $100,000 landmark. Given the current trends, the crypto community remains watchful of ongoing adjustments and changes in the market.
