Bitcoin's recent price drop can be attributed to significant whale sell-offs, such as the transfer of 2,300 BTC to Kraken, which triggered a bearish market reaction. Additionally, liquidations from Celsius' repayment to creditors have led to substantial leveraged crypto positions being liquidated. Despite the current downturn, some analysts view this as a "buy the dip" opportunity, suggesting potential recovery as Bitcoin consolidates within a long-term price range, which could lead to a breakout soon. However, caution remains essential, as market volatility continues.
