Key Insights
Bitcoin price has lost 7% over the week, sparking concerns of a continuing dip ahead.
Bitcoin ETF recorded an outflow of over $1 billion this week, led by BlackRock.
Analyst hints at a potential Bitcoin USD drop to $70k, if a key support fails.
The recent dip in Bitcoin price today to $94,000 has sparked discussions among traders about whether the flagship crypto has already touched its cycle top.
The market concerns were further amplified as the crypto has struggled to hold above the $100,000 mark over the past few days.
On the other hand, the latest market trends also suggest a waning risk-bet appetite of the retail traders as well as the institutions. For context, the US Spot Bitcoin ETF has continued to witness massive outflows, signaling a shifting focus of traders.
Amid this, a renowned analyst warned of a BTC price pullback to as low as $70,000 or even lower, citing technical trends.
Besides, the expert has also highlighted the historical performanc
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