Bitcoin (BTC) Price Dropped Despite Improved Macroeconomic Sentiment; What Caused the Sudden Dip?

Bitcoin price saw a sudden downfall on Friday as bullish momentum fades up in the last 24 hours. After the favorable US economic data including CPI inflation and

Bitcoin price dropped suddenly on Friday despite favorable macro events and an improvement in investors’ sentiment.

After showing signs of a recovery earlier this week, BTC price encountered resistance at $23,000. The coin price dropped sharply from the resistance level as options expiry became a major headwind in the rally.

Bitcoin options expiring on June 16 added selling pressure on the coin. Moreover, traders were expecting a strong move up in BTC price, which failed to happen.

Bitcoin price now trades at $21,800 with a 3.5% loss in the last 24 hours. The coin price is down 6.5% in the past seven days. A sudden drop in BTC price has caused investors to shift their attention to the last time to buy the dip.

Bitcoin price dropped sharply on Friday as traders were expecting a strong move up in the coin. However, the coin encountered resistance at $23,000, which led to selling pressure. Bitcoin options expiring on June 16 also added to the coin’s decline.

Bitcoin price dropped suddenly on Friday despite favorable macro events and an improvement in investors’ sentiment.

After showing signs of a recovery earlier this week, BTC price encountered resistance at $23,000. The coin price dropped sharply from the resistance level as options expiry became a major headwind in the rally.

Bitcoin options expiring on June 16 added selling pressure on the coin. Moreover, traders were expecting a strong move up in BTC price, which failed to happen.

Bitcoin price now trades at $21,800 with a 3.5% loss in the last 24 hours. The coin price is down 6.5% in the past seven days. A sudden drop in BTC price has caused investors to shift their attention to the last time to buy the dip.

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