I think the recent BTC price correction is attributed to the GBTC.
After spot BTC(Bitcoin) ETF(Exchange-Traded Fund)s were approved, unfortunately, the BTC price is suffering a price correction.
Since the operation fee of the GBTC(Grayscale Bitcoin Trust) is higher than other spot BTC ETFs, some investors are moving their funds from the GBTC to others. So, that's the reason why the recent BTC price correction is attributed to the GBTC.
The 🇺🇸 stock and labor markets are looking good. I think this price correction is temporary and it will recover and follow the bullish trend of stock markets. So, the BTC price is not likely to decline less than $30k.
This comment is for rewarding my analysis activities. Upvoting will be proceeded by @h4lab
I thought it's connected to the technology stock market index..