Even with this dip, institutional investors aren't backing off: more than $1.4 billion just went into spot Bitcoin ETFs.
Analysts are watching upcoming US earnings reports for clues on what's next.
Vikram Subburaj from Giottus.com suggests new buyers might want to wait for dips instead of chasing quick rallies.
Other coins like Binance Coin and Solana are also seeing similar trends right now.