We all don't know. No one knows what will happen next. All you can see is pure speculation, that's their own opinion.
My own opinion right now that causes these recent dump is the ETF approval, where some are already dumping because a lot of anticipated we will go for mega pump because of approval.
People anticipated a lot from Bitcoin Spot ETF applications and believed those applications will be approved by SEC, which actually happened. Because of massive anticipation, price already soared a lot in four latest months in 2023.
Now, it makes sense to have correction, even big correction after four consecutive green months and just three months before Bitcoin halving in April 2024.
This correction so far is still smaller than what I believe it should be.
Bitcoin historical corrections from all time highs. They are corrections from all time highs but you can find similar big corrections from peaks.
Nice, now where are the people who told to buy the next dip after the ETF approval or people saying that they will buy once Bitcoin dip?
We fell below $40,000 recently and now we are back above $40,000. Could be that the dip already we are talking about here before the real bull run?