Bitcoin (BTC) prices have now dipped under $103,000 following a 1.17% decline in the past 24 hours. The maiden cryptocurrency continues to witness a significant market correction since reaching a new all-time high of $111,970 on May 22. Despite the ongoing downturn, BTC remains an outstanding performer in the current crypto market cycle boasting of over 600% price gains since the FTX-inspired market crash in November 2022. Interestingly, Miles Deutscher, a prominent crypto analyst has dived into one of the asset’s most prominent bullish driving factors, highlighting the positive and negative potentials.
At the time of writing, Bitcoin was trading at $102,843 reflecting a 1.85% decline in the past week. Following this price fall, investors attention will turn to the $100,000 psychological support zone, breaking below which would trigger heavy market liquidations.
