Bitcoin has experienced a significant drop of over 10% in the past week, falling from around $63,000 to just under $54,000. Despite this decline, Grayscale’s Head of Research, Zach Pandl, suggests that a rebound may still be possible. Factors influencing Bitcoin’s price include Germany’s ongoing sale of seized Bitcoin, which continues to exert downward pressure, and potential bullish catalysts such as a dovish shift from Fed Chair Jerome Powell and the anticipated debut of Ethereum ETFs. While investors have shown interest in buying the dip, pouring over $140 million into Bitcoin ETFs, the continued sell pressure from Germany’s remaining $2 billion Bitcoin stash could lead to further downside movements, potentially affecting newer Bitcoin buyers who entered at higher price points.