BTC Price Drop: Bitcoin's price has dropped by approximately $300 within the last two hours after breaking down from a rising wedge pattern, a typically bearish signal.
Key Support Broken: BTC fell below the key $9,113 support level and briefly touched around $8,944.
(Source: CryptoPotato)
ETF Investment Surge: Despite the price drop, there has been a $380 million investment into Bitcoin ETFs over the past few days, indicating sustained bullish sentiment in institutional sectors.
(Source: BloomingBit.io)
Technical Analysis:
The RSI (Relative Strength Index) entered the oversold zone, leading to a brief price rebound.
However, the MACD (Moving Average Convergence Divergence) remains bearish, suggesting that more downside could follow.
(Source: CryptoPotato)y
