#MarketTurbulence Bitcoin’s sharp drop below $118,000 sent shockwaves through the crypto market on Thursday, as inflation data spooked investors and triggered over $1 billion in leveraged liquidations.

The steep decline came after Bitcoin’s recent rally to multi-month highs, raising questions over whether the bull run can sustain its momentum.

The sudden market turbulence reflects a broader risk-off sentiment, with both traditional and digital asset traders reacting to fresh U.S. inflation data. While Bitcoin had been trading steadily above key resistance earlier in the week, the sell-off underscores how sensitive the market remains to macroeconomic shifts.

Bitcoin’s Sharp Price Reversal Below $118K

Bitcoin’s price tumbled during early Thursday trading, declining from highs of nearly $122,000 to lows of sub-$118,000 within hours. The action was among the most precipitous intraday reversals of recent weeks and saw Bitcoin lose over $4,000 in value. Analysts point out that the $118,000 level had been serving as a near-term support, and its breach was a solidly bullish warning sign.#BTC