I still believe that it is due to the uncertainty about the BlackRock ETF approval. Bitcoin will be volatile during the approval window. It is all about the ETF Nostriches, nothing else will move Bitcoin right now.

BlackRock and the likes have been preparing for a while now and they will ensure the price is suppressed until approval, their bags need to be loaded before that happens as it will happen to match issuance.

The more it goes down, the more indication we have that it will be approved, they will know weeks before we do.

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