$BTC Who is selling BTC at this time? Short-term investors have already taken profits, while long-term investors are not selling at this price. Only market manipulators are buying in to liquidate long positions.
Breaking news: Gold has risen nearly 100% in the past 12 months. Bitcoin has dropped 13.25%. But this is the reason $BTC is about to accelerate stronger. The Bitcoin supply is inelastic, capped at 21 million. The inflation of supply gradually decreases after each halving. Gold, on the other hand, sees price increases stimulating mining.
The scale of Bitcoin is only 4.30% of gold. Small capital flows shifting from gold to BTC create extreme price volatility in percentage. Modest demand is enough to tilt the balance. The potential for a strong bounce in percentage is real.