Over the past few sessions, Bitcoin ($BTC) has entered a sharp corrective phase, falling from its recent high of $123,218 to a daily low of $112,722, wiping out nearly $10,500 in value. As of this update, BTC is trading at $113,141, reflecting a -2.47% drop in the last 24 hours.
๐ Market Breakdown & Key Drivers
1. Technical Structure Breaking Down:
BTC has broken below critical support levels: $118,900 โ $115,500 โ $113,776. These were significant demand zones now flipped into resistance a classic bearish reversal signal.
2. Strategic Whale Activity:
Whale wallets appear to have distributed heavy volume near the $123K peak, initiating a domino effect of liquidations and stop-loss triggers across exchanges.
3. Lack of Bullish Defense:
Even at the $112.7K zone, buyer activity remained muted โ a signal of weakening bullish sentiment.
4. Macro Sentiment Shift:
Risk appetite in the global market has contracted due to macroeconomic concerns and geopolitical developments, including tensions around India-Russia trade relations.
๐ฎ What Comes Next? (Scenarios to Watch)
โ Scenario A โ Relief Rally (Low Probability):
BTC reclaims $115.5K with high volume โ possible retest of $117.8Kโ$118.9K
๐ผ Trigger: RSI divergence or market-positive macro catalyst
โ Scenario B โ Breakdown Continues (More Likely):
BTC closes below $112.7K โ opens room for $110K โ $107K โ $102K
๐ฝ Trigger: Continued whale exits, weak bounce volume, and market-wide fear
Trader Guidance from Ahmad
๐น Scalpers: Wait for rejection/retest at $113.7K
๐น Swing Traders: Avoid long entries unless $115.5K is reclaimed with conviction
๐น Spot Investors: Monitor $107Kโ$102K as potential accumulation zones
๐น Leverage Traders: Use tight stops; volatility could trigger liquidation cas
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