Bitcoin's recent price decline can be attributed to a combination of economic uncertainty, regulatory concerns, and market sentiment. Factors such as inflation fears, cautious remarks from Federal Reserve officials, and regulatory uncertainties have led to a sell-off in Bitcoin and other cryptocurrencies. Market sentiment and investor behavior also play a significant role in driving price fluctuations. Despite short-term volatility, long-term fundamentals, including adoption and institutional interest, remain bullish for Bitcoin and the broader cryptocurrency market.
Do you think these are the reasons?
I don't mean that I don't believe in all the causes you mentioned, but the cause of price decline is still strong because of the law of supply and demand. If the reason the price is down is because there are still a lot of weak hands, I totally agree. People's fear of the decision to sell due to many developing issues cannot be avoided, but for those of us who choose the long term, I can say that this will not apply by continuing to hold.
The first thing I did after reading this post was go to the market to see how Bitcoin was currently priced.
The graph is still running horizontally from the previous ATH price.
If the level of holders increases, a vertical graph will occur, although I don't have strong analysis to give an idea.