Is there any good explanation to this dip

[btc78]

With the etf approval many are now reaping the rewards of their investments

I believe a lot are already taking in profit however rather than panicking and thinking that this would cause damage we all should try to acquire bitcoin now that its price is declining rather than thinking this is a time of crisis, think that this is the time for an opportunity

[ImThour]

Yes, it's a healthy correction of 20% after going up by 200%. What else do you expect? If Bitcoin wants to reach much higher prices, it will have to get a correction.
People take their profits and go away, buyers come and price will start going up once again, Bitcoin Halving is also coming.

I have made a post for next Bitcoin move, go check it out.

[KingsDen]

Re: Is there any good explanation to this dip

There many explanations to the bitcoin price dip, but what I cannot guarantee you is whether the explanation is good or not. According to your thread title, you are seeking for a good explanation. Whenever there is an increase or decrease of bitcoin price, it is always associated with news or explanation to why it happened. It is believed that the price cannot just move on its own without a cause.
I have heard that the FTX GBTC liquidation is the reason behind the price dump as noted by Oshosondy;
I have also heard that because traders made so much profits during the pre ETF approval rumours and they have to sell. I do not believe such rumour that much because I think that many people were holding for the possible bill run.
I just know that there's definitely a manipulation to allow people who took profits to re-enter the market at a discounted price. I am not happy that as big as bitcoin, despite its market cap and price, it is still manipulatable. This is not a good thing for the king and the cryptocurrency market at large

I just pray that the arrival of the institutional traders on a legal form should somewhat bring stability in the market but it seems that the reverse would actually be the case because the signs from when ETF was approved till now is not actually a good one.

[Poker Player]

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

Yes, I also said the same thing in another thread about it. I wouldn't have had the price go down like it has so far after the ETFs were approved but then thinking about it later it has to have been a case of these for sure. A lot of minnows sure bought after hearing about it from the news and are now panic selling.

[Assface16678]

This happening is a good sign that you should buy more bitcoin. It's like a correction in the bitcoin market; we can't expect that it's all about increasing in price. The crypto market should have a correction in order to have a balance in the market. and maybe many big investors sell their bitcoin for some reason, but this happening is having good benefits for us investors because it means that we could buy more bitcoin at a low price before the upcoming bull run.

But of course, you better watch out because the price dip might go further, so you better analyse the market when to buy coins in order your liquidity can sustain the down trade of the market. So take it easy. It may seem like a bad sign, but it's not. You can take advantage of the market dip and take the reward. It's up to you if you will take the risks.

[serjent05]

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 kind of price fluctuation is normal in the Bitcoin market.  This is simply a sign that during the ETF approval hype, Bitcoin is overbought, making the price of Bitcoin above its normal price.  Once the hype is over, it is obvious that correction will happen, the reason for the market price of Bitcoin to suddenly return to the "should be" market price.

Also, there are some instances where the price of Bitcoin plummeted before the halving so I do not think we really have to worry about the recent price drop of BTC.

[tread93]

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.

This is a nice visual aide you have here, I can only imagine the negative decline caused by the FTX crash as this chart isn't completely up to date but it does a nice job hitting all the major bear markets and notating their falls. We can only hope that this is just a healthy correction and I think that it is, hopefully we will see BTC make a huge jump towards upward momentum before and after the halving.

[Questat]

We never thought of experiencing the current situation as we think that ETF approval would increase demand yet, volatility seems to be more influential and it cuts the hype turning low again. Should we have to panic? No, instead buy more and get ready for the halving impact. I even see halving could drive more pumps than ETF approval.

We just calm down, the volatility of the market is real. It pumps for some reason unknowingly, the same thing happens when it dumps. But if we can hold, nothing we lose.

[Minor Miner]

We never thought of experiencing the current situation as we think that ETF approval would increase demand yet, volatility seems to be more influential and it cuts the hype turning low again. Should we have to panic? No, instead buy more and get ready for the halving impact. I even see halving could drive more pumps than ETF approval.

We just calm down, the volatility of the market is real. It pumps for some reason unknowingly, the same thing happens when it dumps. But if we can hold, nothing we lose.

The approval of ETFs will definitely increase the demand for bitcoin but you cannot expect it to happen immediately and massively, everything takes time. Regarding bitcoin being dumped when the ETF was approved, some people also made that prediction and gave everyone warnings, but most stubbornly did not believe it and expected the price to increase even more strongly. Therefore, most were disappointed when bitcoin did not increase in price as they expected, while those who believed in "buy rumors, sell news" were very satisfied with their decision.

But you're right, the market goes up or down sometimes for no reason at all and that's nothing to be afraid of. As long as we don't sell when the market dumps, we don't lose anything.

[Samlucky O]

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.

No matter how the dip is, it can not go back to as low as $30k although cryptocurrency can not be predicted %100 but I believe it would not fall below $30. I don't really know why people do complain about Bitcoin dip. Dip is a normal language in cryptocurrency which means cryptocurrency is an ups and down market just like inflation makes price of fiat to change. False Rumour is also a great influence to market decline. Because when people start speculating on something which seem untrue, some investors become skeptic, because they don want to loos fund. As dey pull down their investment the market, the market receives a decline and many other factors. But it's just time to buy in bulk because now is the time for accumulate more.

[avikz]

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.

Yes, BlackRock is buying bitcoin at lower price so that they can move to the top of the list of corporates holding most numbers of Bitcoin. People at blackrocks top management suddenly decided about it and they are using their influence to manipulate the Bitcoin market to lower the price. Otherwise tell me how on earth, Bitcoins price is decreasing after the approval of long-awaited ETF. I don't see any other apparent reason.

[JayTrain]

It's indeed disheartening to witness this downturn, and many, myself included, are searching for reasons behind it. It might be linked to various factors, perhaps undisclosed news. I'm inclined to think of it as an extended correction, hoping for a rebound. Surprisingly, even the approval of the BTC ETF didn't yield the expected results. Nevertheless, it's crucial not to succumb to panic, exercise patience, and anticipate a market recovery.

[EluguHcman]

It is so pathetic patiently hodling a specific amount of Bitcoin for a period of time with an expectation to catch up with the ETF, accumulating so attractively in other to sell your coins in a huge appreciatable amount at the maximum extensive value rate in the Bitcoin markets, but reverse be the case while timing and aiming on the ETF approval, the markets value goes depressingly backwards.

Personally, I think the speculations in Bitcoin hodling and its investors rumours is playing unexpected underground entails technically affecting the ETF in the Bitcoin market.

However, Bitcoin is a volatility digital currency that its economical values is not determinable.

[Lucius]

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

I read that so far Grayscale has sold almost 80 000 BTC worth as much as $3.27 billion, and the bad news is that they have more than 535 000 BTC. Regardless of the fact that some other funds may be buying a certain amount of BTC, I think that the supply is still significantly higher than the demand and that is why we are at -20% compared to the price that was ten days ago.

The only question is when Grayscale will stop selling, and as far as I can see, there are no indications that this will happen soon.

[Lanatsa]

It is so pathetic patiently hodling a specific amount of Bitcoin for a period of time with an expectation to catch up with the ETF, accumulating so attractively in other to sell your coins in a huge appreciatable amount at the maximum extensive value rate in the Bitcoin markets, but reverse be the case while timing and aiming on the ETF approval, the markets value goes depressingly backwards.

Personally, I think the speculations in Bitcoin hodling and its investors rumours is playing unexpected underground entails technically affecting the ETF in the Bitcoin market.

However, Bitcoin is a volatility digital currency that its economical values is not determinable.

Lots of people/traders/investors did really have those high hopes of that ETF approval on which it could really make the price would really be going up high but the market did make out the opposite directly. This is why it would really be that best that you should really be that having those back up plans if ever your initial analysis had failed out. There are people who are really that mindful when it comes directly on making
profits or making money and this is why they would really be that optimistic when it comes into their positions without having those kind of considerations when it comes to adjustments.

When it comes to dip when this is always been that part of the market on which it is really just that right that you should really be that making adjustments.Instead
on making yourself that being too confident with your position, it would be always that having plan B's or even C's and so on.
Make yourself that versatile then you should really be just that fine.

[bettercrypto]

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.

The dropping of Bitcoin's price value in today's market is seen as an organic happening in selling and buying; I don't see any manipulation happening in the market today in terms of monitoring Bitcoin's price chart.

He is not like other cryptos in that when there is a fall in value, what happens in the market is not organic or natural. The majority of those who sold were traders who were not whalers, because the whale investors, from what I see, are just waiting for what is happening now and are just waiting to buy bitcoin, whereas the other whale investor institutions have already bought bitcoins and holdings.

[fuguebtc]

-.-
 please any thing the cause of the dip as we know it's based on news.

There is some news that ETFs are selling bitcoin but I really don't care and I even hope they should sell all their bitcoin. And those who are panicking should also sell their bitcoins if they do not believe in bitcoin's recovery and price increase. For me, I see this as a good opportunity to accumulate more bitcoin for myself since I still have more than 30% USDT left in my wallet. I even hope that after the halving bitcoin will be able to drop to $25k again, although this is really unlikely, the more people expect bitcoin to rise sharply, the more I believe bitcoin will fall. Bitcoin always goes against the crowd's trend  .

[Blitzboy]

You see, everyone wants to find a reason for why things happen. However, determining the cause of every dip is like chasing shadows. A pointless exercise that detracts from the bigger picture.

News can be useful or harmful. It affects investors' emotions and causes rash decisions. People hear something, panic, and sell-offs start. However, these reactions are usually transitory. Bitcoin's fundamentals remain unchanged. The first cryptocurrency has a strong network and rapid usage. Innovation and utility persist despite price fluctuations.

Look beyond the immediate troughs and peaks. I think Bitcoin is more than an asset - its a symbol of human inventiveness and decentralization. The road is bumpy and the dips scary. Remember that every dip has led to fresh growth and awareness. Bitcoin investing requires confidence and perseverance. A dip? Just part of the adventure, allowing opportunity to learn and strengthen our convictions.

[legendbtc]

You see, everyone wants to find a reason for why things happen. However, determining the cause of every dip is like chasing shadows. A pointless exercise that detracts from the bigger picture.

But why do we spend so much time looking for reasons why bitcoin increases or decreases when we can't change anything? In the financial market, increases and decreases are very normal, why are people always surprised when fluctuations occur? I don't understand why people are always running around trying to figure out why bitcoin is dropping in price. Instead, why don't we take advantage of buying DIP because it will probably recover very quickly and we will lose the opportunity to buy cheap?

[YUriy1991]

It seems that the answer has also been given by @Oshosondy and that is the basic cause so that the price pressure is very consecutive, similar to the FTX pattern during the crash some time ago if you look at it.

If you trade, of course you will be a bit surprised to see conditions like yesterday, the more you buy, the more the price goes down to the point that you have to sell below the price you bought previously to get the lowest price again. Of course, it really drains your energy and makes you feel dizzy if you control the price.