As the chart below suggests, Bitcoin has entered a two-week down cycle. That it peaked yesterday, right on the nose of its two-week cycle high is further confirmation that the cycle is still in play, as it has been for the past twelve months. I'm beyond trying to figure it the "why" of this cycle, and still warn that as with all cycles it can disappear as quickly as it emerged, but for now, the bet has to be lower prices into the Sep 20th full moon. The cycle is even more pronounced in this chart of MARA and it illustrates how powerful a cycle it can be where trading nearer term options. Option traders: MARA Sep 17th $45P (4.70) or Oct 15th $40P (5.10)
