Given that Bitcoin (BTC ($104,098.37)) recently ignited the fire of reclaiming its all-time high (ATH) price of $73,800, panic selling cut short this objective based on mass liquidation from short-term holders (STHs).

Specifically, 54,353 Bitcoin worth a whopping $3.8 billion were sent to crypto exchanges, and immense selling pressure emerged. This led to a pullback to the $68,500 zone.