Bitcoin’s 14% drop reflects 2022 bottom but in reverse – here’s the explanation

Despite a 14% drop in Bitcoin’s price, the sentiment remains neutral with no mass selling observed. Investors are retaining their holdings, as evidenced by a significant withdrawal of over 208,000 BTC from exchanges.

Current market dynamics resemble the 2022 accumulation phase, but flipped upside down. Analysts predict BTC may retest the mid-$100K levels before making a significant move. Though the long-term outlook remains bullish, short-term indicators indicate weak momentum.