According to ChainCatcher news, FxPro Chief Market Analyst Alex Kuptsikevich mentioned that the recent deep pullback in Bitcoin could be attributed to other factors, including the easing of geopolitical tensions between Lebanon and Israel, which weakened investors' demand for safe-haven assets like Bitcoin.
Additionally, Matt Mena, a crypto research strategist at 21Shares, stated that such pullback behavior also occurred at previous highs of Bitcoin, explaining: 'In March this year, when Bitcoin hovered around the historical high of $69,000 from 2021, a similar pattern also emerged.
Bitcoin lingered at this price level for nearly seven days before finally breaking through... When the price approached this level, many participants from the previous cycle began to take profits, as they anticipated a potential pullback.
