In the past 24hrs #Bitcoin dipped to around $55,200, its lowest in a month.

But why is $BTC stuck?

This decline coincides with weaker-than-expected economic data and anticipation of a cooling jobs market in the US, which is affecting both stocks and crypto.

Bitcoin ETFs are seeing significant outflows, and Bitcoin futures open interest has decreased, indicating reduced confidence in short-term price increases.

Technical analysis shows that Bitcoin daily close below $57K means there's a potential to drop to around $54K.