Bitcoin Price at Risk of 15% Drop As Sellers Break Below 50-Day Support

Bitcoin Price Prediction: Bitcoin, the largest cryptocurrency in terms of market capitalization, experienced a sharp downturn over the week, plummeting from $49,000 to $40,300. This significant 17.8% drop can be linked to market concerns surrounding the spot BTC ETF being perceived as a ‘sell-the-news’ event, along with Grayscale’s ongoing liquidation of its Bitcoin holdings.