Bitcoin has dipped below the $107,000 mark, triggering concerns about the stability of the cryptocurrency market. Analysts like Tom Lee at Fundstrat Global Advisors are observing a possible consolidation period following this significant price drop, attributed to ongoing market volatility and potential investor pressure. He also highlighted strong growth in DeFi applications and stablecoin volume as contributing factors to Bitcoin’s continued performance despite the recent decline. 2023 has seen several sharp price fluctuations due to market events that have impacted the crypto industry. The article delves into how this event aligns with significant liquidation events, such as the one from October, and explores the impact of ETF outflows on market stability.