Bitcoin turned a bit bearish

[passwordnow]

Not bad if we see these drops a lot. This is a normal thing to the market when we're in a bull run. Selling pressures are there and that's because these prices that Bitcoin shows have been awaited for so long by most investors. But if you're for the long term, there is no need to stress yourself out with all of the changing of the prices. What you have to do is to wait if some buying entries will be reopened at a price that you desire to buy. And if there is none, there is no need for you to be watching the charts all day long, if it has dropped today a lot, soon it will recover normally.

[LogitechMouse]

Threads like this popping out yet again because the market is dropping. 

It happened when Bitcoin dropped to as low as $74,000, and there are some who really thought that we are starting the bear market season at that time which is a bit funny knowing that they've been in the crypto space for quite some already. When the market pumped, threads about the bullishness of Bitcoin popped out again, and this time, it's happening yet again. Well, looking at the chart, Bitcoin really turned into bearish IN THE SHORT TERM, but if you will look at it in the long term, it's still bullish.

Anyway looking at the market, if you will draw a Fibonacci Retracement at it's recent low of $74,000, and it's recent high of $112,000, you will see that the 38.2 lands at around $97,500 so I expect that Bitcoin might try and go back to that price, and from there, it will depend if the bulls still has the control, or we are seeing the start of a complete reversal.

[Mpamaegbu]

So I have no concerns and neither should you.

Frankly, I don't have any concern with Bitcoin dropping at this level apart from the fact that I also want it to hit my exit level so I can equally take profit. Anyone who invested in Bitcoin in 2022/23 shouldn't have any fear taking profit now if they want to because all are in huge ROI. He who sows should expectedly reap. I don't begrudge anyone taking profit even though such action when it's from whales causes market to dip. Until Bitcoin gets into the $150k+ region, any dip won't scare me.

[sunsilk]

Threads like this popping out yet again because the market is dropping. 

They will pop when there is a sudden drop in the price of Bitcoin. While we will also see this whenever the altcoins are also plummeting a lot. Since OP has said that this shouldn't be concerning him and us.

Then I guess that this is just another reminder that this shall pass soon and there is nothing to worry about. To be honest, we're mostly holders here and we've been tested by time.

If these sudden drops have come, we know what to do and sometimes it's best to do nothing but HODL.

[justinlamode]

So I have no concerns and neither should you.

I don't know but it seems to me that it's the people like you who're posting threads about Bitcoin being "a bit bearish" are the ones actually having some concerns

You are right about Peter because his post appears like a soft way of expressing FUD. You can't say you are not concerned about the Bitcoin price in a thread you made about Bitcoin being bearish, that is contradiction in its purest form. Bitcoin is not bearish like he claim, instead we are just experiencing a retracement that can end anytime for price to continue in its direction which is uptrend. By the middle of next month, it should have been clear about the part the market is cho0sing for the long term move.

[TheUltraElite]

How long have you been a part of this crypto community op? You call a couple of thousands drop slightly bearish? Really? Wonder what you would have thought when seeing BTC drop to below 10 grand at one point way back.

Go easy on the OP, it is common to see some people panicking about price changes and this should be explained clearly to them.
Looking at old charts can help cover this knowledge gap, most of us have found our conviction in bitcoin price from reading charts only.

At this point it does seem that we might become bearish but fear not, it will go up once again organically and cross the current all time high.

[Ruttoshi]

IBIT (IShares Bitcoin Trust) fell 1.32% to $59.99 Thursday, while registering a net inflow of $125 million, the lowest single-day tally since May 13, according to data source SoSoValue.

We are seeing ETF turn a bit bearish due to the price dropping. The way we can interpret this is a lot of investors are now taking profit and selling massively their holdings. However, it’s not all negative since it still registered a net inflow. Despite being the lowest tally since the start of the month, it’s still not all too bad. So I have no concerns and neither should you.

Why are you worried over the inflow and outflow of ETFs, a little price correction doesn't mean that we are in the bear market. I feel that people should know the difference in price correction and the bear season. Bitcoin is volatile and some certain factors can lead to the pump and dip in price, so don't get it twisted that the bull run is coming to an end now.

I don't think that a lot of investors are taking profits without any buying. Traders and hodlers with speculators are the ones that keep the market ongoing, which means that people must sell and buy.