Traders say Bitcoin’s sell-off was needed, and dips are likely to be viewed as buying opportunities.
Bitcoin (BTC) set a new all-time high at $69,324 shortly after the opening bell on Wall Street on March 5, before sharply correcting 9.75% to $59,323, which analysts have described as a welcome move before “healthy consolidation” occurs.
Data from Cointelegraph Markets Pro and TradingView showed Bitcoin trading 9% below its new all-time high of $69,170.
While BTC is still up 12% over the last seven days, the pioneer cryptocurrency’s flash crash left market participants wondering where the price will go moving forward.
