What caused the dip in Bitcoin

What caused the dip in Bitcoin price from $72+K down to $65+K? Some believe it was caused by movement of Bitcoin by long held addresses to the exchanges, or inflation data causing interest rates to remain higher for longer, or lower spot Bitcoin ETF inflows and some of this may be the cause. However, I believe in this scenario which did happen: (“Apparently a fund blew out $1b+ on the MSTR-BTC spread trade. They covered into the close which is why BTC dumped and MSTR premium went to the highs.” “A hedge fund set up a spread trade shortly before the ETF approval: Long BTC & Short MSTR. The idea behind it was that MSTR will fall through the ETF while BTC rises.” This explanation lays bare the hedge fund’s miscalculation, as the actual market response saw MSTR outperformed Bitcoin, necessitating a rapid unwinding of positions that contributed to Bitcoin’s sharp price decline. “BTC was sold and the shorts on MSTR were closed (MSTR bought). $MicroStrategy(MSTR)$

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