In my opinion, the reason for the recent drop in bitcoin prices is due to the outbreak of the Omicron type of Covid-19 variant and also the Fed has started to tapering so that investors have started releasing their assets. In addition, the decline in the price of bitcoin was also caused by a massive sell-off of traders.
Or perhaps we really reach the peak already last November, and then everyone is hoping for a massive run to $100k that didn't happen, so small traders started to sell-off. But I do believed that the massive sell came from some big entities first followed by retail investors. And then we have the Omicron variant that took the world by storm again.
