Continue to be bullish on Bitcoin in the long-term disposition, nothing could possibly go wrong in my opinion. The answers to what we are experiencing in the Bitcoin market are not far-fetched, it is what many of us are anticipating and no wonder that Coindesk called them "Contrarians." But actually, they may not particularly be a contrarian but a viable speculator who knew what the market was going to do before doing it, and that is smartness to me as many of us trading the Bitcoin market do not reason the same way, some do not reason the new crypto way most people reason these days. Some have lived in the market for decades far before cryptocurrency, while some might just be an accurate predictor which could be both immediate or futuristic, so they might have known what the post-ETF behaviour of the market could be.

It is always good that we update our prevailing sentiment about the market all the time, and it is good to know this by the use of the technical and fundamental resources at our disposal. We should not be a blind follower of what the media is saying but use our experience, senses and instincts on what could possibly happen in the market might be truly revealed. This is what matters most and a lot knew the ETF approval couldn't hold water again since its anticipation had already made Bitcoin overpriced, we should not be surprised by this retracement. Nonetheless, I see support close to $40,000, the level is $40,243 Fibonacci support of the 1D chart. Maybe Bitcoin can hold above the level and bounce back over time. But no need to panic whatsoever, this is just a temporary setback for the coin.