Reason for the Recent Bitcoin Dump ๐
A few days ago, $BTC was nearing the key psychological mark of $100k, but it got knocked down by a 5% drop.
One technical analyst on Twitter linked this dip to profit-taking from holders who bought $BTC around $50-60k, which is a natural market reaction ๐.
Interestingly, MicroStrategy (Michael Saylor) and the Spot BTC ETF absorbed nearly 90% of the sell pressure ๐.
What's also telling is that long-term holders are continuing to hold their Bitcoin, indicating that this bull run isnโt over yet ๐.
Another key point: Despite Bitcoinโs drop of $5-6k, altcoins are holding strong, signaling the start of the altseason ๐.
1. Approaching key ATH (now $100k, previously $40k).
2. Slight $BTC dominance decrease.
3. Bitcoin correction (weโre here).
4. Fast dominance drop, and then altseason begins.
The wait isnโt long now, and those who remain patient will be rewarded ๐. 0 reply
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