BTC speculators dump $5B — 5 things you should know about Bitcoin this week

Bitcoin Price Targets: Bearish Sentiment Rises After ETF Dip

Bitcoin experienced a volatile start to the year, with the debut of the first spot Bitcoin exchange-traded funds (ETFs) in the United States causing snap moves both up and down. After reaching $49,000 on ETF launch day, BTC/USD quickly dropped and is now approaching $43,000. Some traders believe that the dip is a healthy support retest, while others see the preceding local top as remaining unchanged for a long time. Speculative traders may be exhausting themselves, as they offloaded billions of dollars in BTC at a loss last week.