We have been writing that Bitcoin was in for a price correction for several weeks now, mostly amid:
- High unrealized profits.
- A spike in profit taking in spot and futures markets.
- Slowdown of US spot demand.
- Technical and On-chain price resistance.
See our latest analysis:$BTC
BTC
65,716.01
-2.82%
ETH
1,846.03
-2.90%