This may or may not be the reason. It was due for a correction after an insane year of growth (all crypto, not just BTC). On top of that traders and whales could be taking profit for taxes. It's also bonus season so whales could be pushing down the price to get Wall Street money in and to buy back and a lower price (crypto is highly manipulated).
About Paul Spoerry
I’m a groovy cat who’s into technology, Eastern Thought, and house music. I’m a proud and dedicated father to the coolest little guy on the planet (seriously, I'm NOT biased). I’m fascinated by ninjas, the Internet, and anybody who can balance objects on their nose for long periods of time.
I have a utility belt full of programming languages and a database of all my knowledge on databases... I practice code fu. Oh, I've also done actual Kung Fu, and have a black belt in Tae Kwon Do.