Bitcoin, is pose to go lower, has not flip yet going back and resuming the uptrend, now is consolidating, to resume, needs to break the recent lows that she did, you can see easily on weekly chart and daily.

You ask why taking the lows, Bitcoin like the other majors Crypto, is manipulated by the banks, and they use the same model, before resuming, they have to take out the the other participants, that follow classic TA.

So who is trying to buy now, put stop loss below previous low, and in most charts there is also a double bottom, two same price lows, another as for TA, where stop loss is a secure place to be.

Now a part this, I think really that 8k is a price where will be lots of interest from the banks, and they will buy, all the people that will pull the plug, from about 12k until 8k, they will buy all from the sellers.

Slaughtering, them, then the price can resume, too many normal people making money is not the Bank model, they will not allow it.

Now Bitcoin seems to dictate the trend also of many other coins....so the market as paused in most coins, or retracing too.....together with Bitcoin.

Notice how ETH instead has a good tone...or BNB for Binance, example, people tend to move to crypto, that are felt more secure....