Bitcoin's price dropped nearly 4% in the past 24 hours, falling from $72,500 to just above $69,000.

The overall crypto market cap declined by 5.5%. The Fear and Greed Index, a sentiment indicator, reached "extreme greed" levels on Thursday, historically signaling market corrections.

This, combined with nearly 90% of futures positions being long, suggests a potential market top, despite the bullish sentiment.