$BTC /USDT Approaching Critical Support

Bitcoin has dropped sharply from its recent high of $124,474 down to around $117,719, losing more than 5% in the process. The price is hovering just above the important $116,000 support, a level that has previously triggered strong rebounds.

If this support holds, Bitcoin could bounce back toward $120,000–$121,700. But a breakdown below $116,000 may open the path to the next significant support near $111,000, where buyers are likely to step in more aggressively. For now, $116,000 is the key level to monitor closely.