What would cause bitcoin to drop 30% or more?
First of all this just a correction freen if you take a look the weekly chart you can notice that bitcoin already up 117% from the August to January I mean there will be no other traditional asset that can make significant gain in less than a year so drop 30% more is fair correction.
and then there is news like trump tariff its wipeout the entire stock market aswell surge the price of gold and make mixed signal to crypto
And come to think of it, it's not like the drop of 30% took days or weeks. It's month so this could be just a normal flow in the market. Perhaps the TA could point out that we are in the overbought zone that's why the price keeps going down.
And then there is the news about the tariff that keeps everyone off guard as Trump imposed it to his allies that's why the market was at a lost and so they are fearful and sold because of the uncertainties behind this.