Bitcoin May Drop Further — History Could Repeat Like Dec 2023Bitcoin / U.S. dollarBITSTAMP:BTCUSDremarkableCoco57670Bitcoin may still have room to move lower. In my view, the current market structure looks similar to what happened in December 2023, when BTC created a sharp dip after a strong rally. Markets often move in cycles, and history sometimes repeats itself. After a period of strong bullish momentum, Bitcoin tends to experience a deeper correction before continuing its long-term trend. Because of this pattern, I believe another significant dip could occur. Another factor is global macro risk, especially the current geopolitical tension involving Iran. Rising conflict in the Middle East has pushed oil prices higher, which can shift capital flows across global markets. When money flows into commodities like oil or safe assets, risk assets such as cryptocurrencies can temporarily lose liquidity and demand.  Higher oil prices also increase inflation pressure and can lead to tighter monetary policy expectations. This often reduces risk appetite in financial markets and can put downward pressure on assets like Bitcoin in the short term.  If capital continues rotating into commodities and defensive assets, the crypto market could see another wave of selling or a deeper correction, similar to previous market cycles. Key Idea Summary •Bitcoin may follow a historical pattern similar to the December 2023 dip. •Geopolitical risk (Iran conflict) is increasing uncertainty in global markets. •Rising oil prices could attract capital away from risk assets. •Reduced liquidity in risk markets could trigger another downside move in BTC.