Bitcoin $BTC has been experiencing a period of significant volatility. After reaching an all-time high earlier in the year, the cryptocurrency has seen corrections, influenced by a confluence of factors including macroeconomic concerns, regulatory scrutiny, and shifts in investor sentiment. Lately, technical indicators suggest a potential for further price fluctuations. Support levels are being tested as some investors take profits, while others see dips as buying opportunities. On-chain analysis indicates a mixed bag, with long-term holders showing continued conviction, but short-term traders exhibiting more reactive behavior.
Global economic uncertainties, such as inflation concerns and interest rate hikes by central banks, are playing a crucial role in the broader crypto market. Additionally, ongoing discussions about potential regulations in major economies are keeping investors on edge