There can be several factors that contribute to a dip in Bitcoin's price, including:
1. Market Sentiment : Negative news or events can lead to fear among investors, prompting sell-offs.
2. Regulatory News : Announcements regarding regulations in major markets can impact prices significantly.
3. Market Manipulation : Large trades or movements by "whales" (large holders of Bitcoin) can drive prices down.
4. Economic Indicators : Broader economic factors, such as inflation rates or interest rates, can influence investor behavior.
5. Technical Factors : Support and resistance levels can trigger selling if prices breach established thresholds.
For a precise cause, you may want to check recent news articles or analyses regarding Bitcoin and the cryptocurrency market.
