Analyst: "Bears are getting stronger in Bitcoin! The decline in BTC may continue to this level! "#ETH #SHIB #BTC #DOGE

The leading cryptocurrency, Bitcoin (BTC), gave back its gains in the last week with the correction it experienced in the last 24 hours, falling from $ 73,000 to $ 65,800.

Similar declines were experienced in Ethereum (ETH), BNB and XRP, while meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB), which have been popular recently, also fell.

While analysts stated that the selling pressure was behind these decreases, they said that the February PPI data coming in above expectations doubled the rate of decline.

At this point, analysts are also divided. While some analysts think that the correction will be short-lived, some analysts think that the correction may deepen further.

Speaking to Coindesk, FxPro senior market analyst Alex Kuptsikevich warned investors by predicting that more losses could occur in the coming weeks before the Bitcoin price recovers.

Bitcoin continues to trade at $67,553 at the time of writing.

*This is not investment advice.