Is there any good explanation to this dip

[Perfectbaby]

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January after hitting a good price, after which price started declining without control to the level of $38k as current price. Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

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[Oshosondy]

I read that FTX liquidated $1 billion worth of GBTC has been the main reason for the price of bitcoin that fall.

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January

Bitcoin spot ETF was approved on 10th January 2024. Bitcoin got to $49000 on the 11th of January 2024. The fall did not started in December of last year.

[bobbybkk]

Stuff like this sorts the men from the boys.

Expectation was built up in regards to this ETF decision and the price went up.

The decision was positive, so time for the men to take profits as all looks good.

Now just wait until all the boys panic and sell and then see where it bottoms out.

Then the men start buying again.....

[Natsuu]

Bitcoin's price goes up and down for different reasons like news, market feeling and rules changing. Predicting the next dip is tricky but keeping an eye on news and trends helps.

[jasonjm]

People were hyping the ETF approval, and many were saying that Bitcoin price would increase significantly following the ETF approval. The price pumped a few thousand dollars, and then we see a sudden dump because more retail investors joined the party and allowed whales to empty their wallets. In the past 2 weeks, approximately 70k BTC were sold by whales worth around $3 Billion. The market will correct itself for the time being. The chances are that we might see a dip toward or below $35k in the coming weeks.

[ultrloa]

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January after hitting a good price, after which price started declining without control to the level of $38k as current price. Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

To much hype happened on ETF and after the approval happen maybe there's a lot of people cashing out their profits and that maybe the result.

But also come to read this article since this also have relevance regarding on your question and maybe you can learn something from this https://u.today/key-reason-behind-bitcoin-btc-price-crash also this https://u.today/massive-200000-bitcoin-btc-dump-expected-in-60-days-mt-gox-update

If this is really happening well we can really expect a dump to happen so maybe its time to follow those good updates happening since it can give us good ideas on what will be the next thing to happen in the market.

[criptoevangelista]

first point: macro economic scenario, the market expected an interest rate cut for March, but now they believe that this will only happen in May or June.

second point: ETF speculation.

the sales pressure is ending, most of the futures contract orders have already been closed.

Bitcoin can fall to 35k, but to do so it needs to lose the 38k region.

in the medium and long term it is infinitely high, so take advantage of the opportunities that life is giving you. BUY!

[JunaidAzizi]

Bitcoin's price goes up and down for different reasons like news, market feeling, and rules changing. Predicting the next dip is tricky but keeping an eye on news and trends helps.

Yes, it's very tough to predict the next move of Bitcoin and how much it will go down.  Last week, we saw that ETF was approved and the price of bitcoin went up to $49k but suddenly we saw some bad moves of BTC going down.  I did not realize what happened that bitcoin price goes down that much.  A few minutes ago I saw the price of btc on coinmarketcap which shows that the price is 11% down in the last 30 days.  This is a significant opportunity for those people who want to invest in Bitcoin.  Maybe the BTC goes down but it's not confirmed be BTC does a comeback and goes up which will not be a piece of good news for those who want to buy.  So do not lose this opportunity and make some investments.

[Patikno]

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January after hitting a good price, after which price started declining without control to the level of $38k as current price. Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

This is just a normal correction that occurred after the hype over the approval of a bitcoin ETF, before that the market had an unexpected reaction, causing the price of bitcoin to continue to experience a sharp increase. When the price fell further, other people also panicked and sold their bitcoins, this incident was also exacerbated after bitcoin broke through the support point of $39,564 (weekly timeframe). To find out more about trusted bitcoin news, you can visit bitcoin news page on Tradingview.

[Ever-young]

It seems to me that we already in entering the Dip section already due to how the market is dropping down this past few days and the one that happen yesterday is one of it all breaking bitcoin price down to $38,700 as of when last I saw it yesterday and now we can’t even tell where the price will be next.

But this has not been the first time we are seeing or experiencing price drop on the halving year it look like something always happen which always end up bring the price of bitcoin down and at the same time creating lot of buying opportunity for those that want to buy and hold bitcoin.

[irsykes]

People were hyping the ETF approval, and many were saying that Bitcoin price would increase significantly following the ETF approval. The price pumped a few thousand dollars, and then we see a sudden dump because more retail investors joined the party and allowed whales to empty their wallets. In the past 2 weeks, approximately 70k BTC were sold by whales worth around $3 Billion. The market will correct itself for the time being. The chances are that we might see a dip toward or below $35k in the coming weeks.

praising ETFs will have an impact on bitcoin for me fomo does this. if ETFs don't dump bitcoin they probably don't have the term dump on bitcoin. create interesting news to bring an upward impact and sell bitcoin massively. made huge profits and they just wait for the bitcoin correction position to be below them to start again

[moneystery]

this possibility is because most traders have made a profit from the bitcoin etf news, so now they are selling to secure their profits, and some may be selling because they are worried that the price of bitcoin will continue to decline so that it affects their psychology to sell their bitcoin.

but there is no need to panic, this is still normal, because looking at how bitcoin has performed in the last few weeks, it has risen significantly because many investors have entered just to make a profit on the bitcoin etf news and now they are leaving which makes the price of bitcoin drop and that is normal. and usually the price of bitcoin fluctuates before the halving, so a drop like this is not bad news.

[kryptqnick]

Not every dip requires an explanation. Bitcoin is a volatile asset, its price can't be regulated and can't be controlled. The interest in buying and selling Bitcoin naturally fluctuates, and that causes the price to go up or down. There's also a phenomenon called a correction, which is a way of an asset's price adjusting after being overvalued due to hype or something like that. So what we see now is Bitcoin's correction. It will stop, Bitcoin can easily recover from that later, and it doesn't matter in the long run. A correction doesn't need triggers, it can happen naturally after growth.

[SquirrelJulietGarden]

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January

An easy and good explanation is "Buy the rumor, sell the news".

Rumor is Bitcoin Spot ETF applications will be approved.
News is SEC. approved 11 Bitcoin Spot ETFs.

If the market works like the advice, price must drop and it is what Bitcoin market actually goes latest days.

Another explanation is even without news about Bitcoin Spot ETFs, you can see Bitcoin already have four green months from September to December 2023.
https://cryptorank.io/price/bitcoin

If anyone think it is not enough for corrections, I don't have anything to argue.

A 10% or 20% correction is not too big if you see Bitcoin history.

[DaveF]

Good explanation for the dip: More sellers then buyers :-)

Seriously, in addition to what others mentioned part of it is the post Christmas / beginning of the year gotta pay some bills thing.
If you are sitting on some BTC you bought over the last few years before the recent run up and sell now you are still made some profit and if you have things sitting on a credit card at who knows how high an interest rate. It's a win to sell now and see what happens later. Can always get back in on the next dip

-Dave

[YOSHIE]

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January after hitting a good price, after which price started declining without control to the level of $38k as current price. Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

If this is what you have to ask about the price of Bitcoin, of course it will be interesting if you look at the history of what happened before the halving occurred in 2020, to be precise it happened on May 11, in the first to three months there was a sharp decline, exactly like what is happening now, what I say is based on experiences I have seen, of course you cannot be guided by what I say.

But I am sure that the current decline in Bitcoin prices, there must be things that lead to positive goals for Bitcoin itself, that's what we don't know yet, for me just think positively and hope that Bitcoin will be better in the crypto market in the future and have good value than Halvingthat has happened before.

[SquirrelJulietGarden]

Good explanation for the dip: More sellers then buyers :-)

People panic sell and still fearful to get in again. Price actually falls not only because of sellers but forced liquidations.

Seriously, in addition to what others mentioned part of it is the post Christmas / beginning of the year gotta pay some bills thing.
If you are sitting on some BTC you bought over the last few years before the recent run up and sell now you are still made some profit and if you have things sitting on a credit card at who knows how high an interest rate.

Cathie Wood and ARK invest sold to take profit weeks ago. Some institutional investors have to take profit, all or partial of their bitcoins, to show in their financial year end report that through 2023, they got profit from investment. Distribution on market by institutional investors usually take a long time to finish because they have big capital.

It's a win to sell now and see what happens later. Can always get back in on the next dip

The market is always here and chances come and go but they will return so we don't have to feel like never see other chances. I agree with you that there will be other dips.

[Smack That Ace]

It doesn't matter what caused bitcoin to fall over the past few days, because no market has gone up continuously without falling, and bitcoin has risen so much in the past 2 months that a correction is completely understandable. Falling Bitcoin is a good thing because this is an opportunity to accumulate bitcoin at cheap prices, not a time for panic selling.

The truth will be quite harsh, but we should thank those who sell in panic because if they don't sell, how can we buy bitcoin at cheap prices? This is the financial market and it is very cruel, people with paper hands do not deserve to profit in this market. I prefer a panicked market to an overly calm market that doesn't make a profit.

[EarnOnVictor]

It's not a thing of surprise anymore to see bitcoin dip about 10 to 20% from its previous price of $48k on it's price within the late December to earlier January after hitting a good price, after which price started declining without control to the level of $38k as current price. Who knows what could be the next dip and this may lead to 35k to 30k causing serious panic to the market and holders, please any thing the cause of the dip as we know it's based on news.

What I can say is that the recent selloff seen in Bitcoin market shouldn't surprise us, only that it is moving faster than expected. I've lived in the market long enough to know that any market expectattions that fails could backfire and could cause a reverse trend, which is what is happening now. The ETF filing and expectations that caused Bitcoin to rise, when later got approved, is the same that causes it to fall now, this is because reality is different from speculation and optimism.

Then, it was the expectations and optimism that dragged the price of Bitcoin higher through FOMO, but it is moving on the opposite side now where it (Bitcoin) is viewed as overpriced. This, I'm afraid might last for a month, but hopefully, halving will change the narrative, I mean the post-halving effect. Technically, Bitcoin is bearish in outlook, it will continue to sell lower with little or no restrictions at all just like how we experienced it when it was buying late last year.

It has breached a strong support level at $40,243 and still has a strong price action before it, so it is likely that it will reach $37,519 in no time and even go lower than that.

You might want to read this: My recent technical view of Bitcoin

[boyptc]

Under $30k is plausible and everything is on this market. While we're not yet passing the halving, things could still be bad for those that don't have much patience.

It's a matter of how long we are going to stay and just ignore all of these dips and whenever these happens, only one thing is for sure and that is there have been a lot of Bitcoins loaded to the market and sold off.

That's how it goes whenever we're going through a bloody week.