Bitcoin drops below $109K – Healthy correction or warning sign?
After hitting a new all-time high of $111,970 just two days ago, BTC has dropped over 3% in the past 24 hours, currently trading near $108,000.
Key drivers behind the dip:
• Geopolitical tension:
U.S. announced a 25% import tax on iPhones produced abroad and 50% on EU goods starting June 1.
This sparked a global risk-off sentiment, hitting both traditional and crypto markets.
• ETF profit-taking:
Institutional investors began to realize profits after BTC’s recent rally, causing significant outflows from Bitcoin ETFs.
• Derivatives pressure:
Over $87M in long positions were liquidated in the past 24 hours, adding selling pressure.
Market sentiment:
This correction appears to be part of a broader macro reaction rather than crypto-specific weakness.
Many analysts still maintain a bullish long-term view and see this as a dip worth accumulating.
Stay calm. Stick to your strategy. Long-term conviction wins.