BTC Faces 2.49% Drop After $111K Rejection, Trading Volume Surges Amid Support Test

Bitcoin is currently trading at $108,356.79 on Binance, with a 24-hour trading volume of $28.21 billion and a 2.49% decline from the previous day’s open of $111,120.17. The recent price drop is primarily attributed to Bitcoin’s failure to break above the key $111,000 resistance level, resulting in a sharp rejection and subsequent stabilization near the $108,000 support zone. Increased market activity is reflected by a 12% rise in active addresses and a 15% spike in trading volume, suggesting heightened volatility as traders respond to these technical levels. No major external news or events have directly triggered the price change, but the current movement reflects typical market reactions to resistance and support zones, with broader sentiment remaining positive due to strong institutional interest and continued bullish trends over the past year.