🚀 Bitcoin (BTC) experienced a sharp decline after hitting the historical peak of $ 73,000 in March. Market participants and investors are questioning the factors behind this sudden decline. 📉

• Bitcoin has performed impressively on its journey to reach its peak in March. However, this moment of triumph was temporary and the price fell rapidly. By late April and early May, Bitcoin had fallen into a range between $57,000 and $62,955.

• There has been a marked decrease in demand from long-term owners and large investors. These influential players have significantly reduced their buying activity, which has impacted the market.

• Bitcoin miners also increased their sales activity. This is often done to cover operational costs or to take advantage of the price before it drops further, which can increase selling pressure.

• Market sentiment also affected Bitcoin's decline. Various macroeconomic factors, such as hawkish fiscal policies and the potential for the US Federal Reserve to raise interest rates, have created a bearish outlook among investors.

• Technical indicators do not look positive for Bitcoin, with the loss of critical support levels and the bearish trend in the relative strength index (RSI) increasing negative sentiment.

Do you think the current Bitcoin decline is still a buying opportunity? We are waiting your comments! 💬