Bitcoin experienced a notable 30% retracement from its peak, dropping from 109,590 USD to 77,041 USD due to selling pressure from short-term investors.
Outflows from Bitcoin ETFs reached around 920 million USD, highlighting a lack of institutional buying strength during the selling period.
Recent analysis suggests that if Bitcoin stabilizes around 84,357 USD, historical trends may lead to a potential recovery in price, contingent on the resurgence of institutional demand.
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