This is a normal day in the cryptocurrency market.
Where majority of people thought that it would mega pump because of ETF approval but it didn't because they already knew what would happen, so it's more likely what happened is "Buy the rumors, sell the news".
That's why trading is extremely risky during this kind of situations.
The normality of market is it usually moves opposite to most speculations about its next movement. Because market makers only can get profit by mislead most of the market participants and get profit when their plans succeed to deceive most of investors.
They are masters in Market psychology cycle and have experience, patience to execute their plans while mos of market participants only look at short term, lack of patience and discipline.
this exactly. if something sounds too easy to be true then its because well it is lol. The etf acceptance was priced long time ago. everyone was expecting huge gains and ive been just looking at it since i dont trade but i was pretty sure 90% + that it would remain volatile / potentially drop after it goes up a little. and it did exactly that.
People gotta understand that if the majority of people are bullish or bearish then BTC tends to react exactly the opposite way or sideways. I think even the next couple of months will break some necks as loads of people wanna open a super long position as its ''so obvious'' that we gonna hit a new ath soon. But instead we might have side way trend for the next couple of months or even the entire year lol.
I had to learn it the hard way too. Back in 2020 i was sure dogecoin would tank and i shorted it. it went up more. i called another short. it continued going up. i was sure it would tank at some point but after beeing down about 1 btc or so i decided to hold my horses as i couldn't call when that crazy shitcoin was topping out. eventually it continued its rally for a few days before crashing down. Even though in that situation, most experienced people knew that dogecoin hat to eventually fall, nobody could tell when.
