Bitcoin Plunges 12.25%: Profit-Taking Fuels Market Decline

Bitcoin has experienced a significant decline of 12.25% over the past week, driven by profit-taking and persistent market volatility. Experts suggest this drop may continue in the short term. Cryptocurrency specialist Ki Young Ju attributes the downturn to investors locking in profits from recent price surges. 36Crypto reports that Bitcoin’s future trajectory hinges on macro liquidity and external market factors. While some analysts remain optimistic, others predict a continued decline before a possible rebound. The article delves into the concept of profit-taking, examining how it influences Bitcoin prices and potentially signals an upcoming bear market based on historical trends.