Bitcoin Drops 8%, Market Sees Correction After Bullish Run

Bitcoin experienced a notable correction, dropping by 8% from its May 22 high of over $111,000. This pullback marks the end of a 45-day rally that began in early April and comes amidst concerns about market sustainability. The drop is attributed to several factors, including a US Court ruling reinstating disputed import tariffs, impacting bond markets and driving risk assets down. The correction, however, could be positive for long-term growth as it allows for profit taking and the reset of leveraged positions.