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?
If the price value of bitcoin falls, such things are not surprising because of the volatility that bitcoin has. So there may be many selling and buying positions there; that's what often happens with the Bitcoin price in the market.
And what happened to the ETH ETF approval that happened the other day did not have much impact. Although the fact is that the approval is only 100%, if I'm not mistaken, the 100% is not yet that complete. Please correct me if I'm wrong. Thanks.