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Did 8% Bitcoin price drop change bulls’ chance of BTC hitting $100K?

Bitcoin price correction by 8.2%: Bitcoin experienced an 8.2% correction after reaching a peak of 99,609 USD. This led to the liquidation of 250,000,000 USD in leveraged long positions. However, this correction did not cause major panic or push indicators into negative territory.

Participation of major institutions: Major institutions like MicroStrategy have stepped in to buy, having announced a 5,400,000,000 USD Bitcoin purchase recently. This participation, along with strong inflows from ETF funds, indicates institutional confidence in the market.

Positive sentiment maintains: Despite facing corrections, the overall sentiment about Bitcoin remains positive. Investors do not see the failure to surpass 100,000 USD as a bear market sign, but rather as a standard correction.

Potential for continued price increase: The continued participation of institutions and anticipated investments by whales suggest a long-term price increase potential for Bitcoin. Well-considered investment strategies ensure there is some market stability.

This is community-generated content, not advice from ONUS.
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