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Continuing the downward trend of the previous day, the price of Bitcoin once again fell below the level of 90,000 dollars.
The drop coincided with more than $486 million in outflows from spot bitcoin ETFs, which has increased short-term selling pressure in the market and made investors more cautious.
Bitcoin has experienced a decrease of about 2% in the last 24 hours, although it is still growing by more than 3% on a weekly basis.
The correction came after BTC price climbed to the $94,000 range earlier this week, fueling hopes of a move towards $100,000.
Analysts believe that the main reason for this drop is due to profit taking and selling pressure of whales to eliminate leveraged traders. Despite this correction, bullish signals are still active.
US economic data has bolstered the likelihood of interest rate cuts, and firms such as Strategy have maintained fundamental price support as Bitcoin continues to accumulate.
As a result, for retail investors, this volatility can be both a warning for risk management and an opportunity to step into corrections.
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