Many people are asking why $BTC is currently experiencing a significant drop and if there is any news causing it.

At the moment, there doesn't seem to be any major news causing the drop. The flow of funds from #BitcoinETF funds is still strong.

Similar to the dumping events from last week, someone may have sold a large amount of #BTC.😉. leading to the liquidation of many long positions and causing a phenomenon known as a long squeeze.

Glassnode's percentage of profitable Bitcoin addresses is currently very high, indicating that this could be an opportunity for market indicators to cool down.