Important report comes out that inflation is pretty bad (USD)..
Bitcoin dumps off a cliff..
This is the exact opposite of what Bitcoin is supposed to do..
Has Bitcoin strayed too far from its purpose?
It was not only Bitcoin that got the dump , Gold price dumped too and most dollar pairs currencies. This news event and uncertainty in the market for investors contributed to the dump, though I was expecting Bitcoin to have a correction immediately just after we touched the 22.6k zone, until we start getting clear picture of how the future is going to be in order for investors to gain confidence, we will continue to get panic sellers in the market. However , Bitcoin coming back to retest the $20k level is a good correction for BTC in my own opinion, But until we start seeing further downwards movement below $19k-$18k, I still remain bullish to see Bitcoin to go tap the $25k zone again.