Bitcoin (BTC) wicked to five-day lows on Feb. 22 as a comedown for United States equities continued.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Analyst on Bitcoin: "Waiting for a bit lower"

Data from Cointelegraph Markets Pro and TradingView recorded lows of $23,871 on Bitstamp, with S&P 500 futures slipping under 4,000 ahead of the Wall Street open.

Bitcoin bulls had lost ground after the U.S. holiday weekend, which ended in weakness across equities and a failed attempt to flip $25,000 to support.

For Cointelegraph contributor Michaël van de Poppe, who was hoping that the correction would be short lived, it was nonetheless time to wait and see.

"Markets correcting as U.S. indices are also correcting at this point. This means, opportunities!" he told Twitter followers on the day.