CoinVoice recently learned that FxPro's chief market analyst Alex Kuptsikevich mentioned that the recent deep pullback in Bitcoin may be attributed to other factors, such as the easing of geopolitical tensions between Lebanon and Israel, which weakened investor demand for safe-haven assets like Bitcoin.
In addition, 21Shares' crypto research strategist Matt Mena stated that this behavior of pullbacks occurred at previous peaks of Bitcoin as well. He explained: 'In March of this year, when Bitcoin hovered around the historical high of $69,000 from 2021, a similar pattern 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.' [Original link]
