📉 Bitcoin Takes a Hit – What's Causing the Drop? 🧨

Bitcoin just plunged below $116K, marking a sharp -2.88% drop today. This sudden sell-off has left many wondering: What’s going on?

🔍 Possible Reasons:

⚖️ Mt. Gox BTC Transfers: Over 100K BTC are being prepared for distribution to creditors. Just the movement of these funds has created massive fear in the market, though most haven’t been sold yet.

🏦 Government Wallet Activity: U.S. and German authorities have been moving seized BTC to exchanges, raising concerns about offloading.

🔥 Liquidation Cascade: High-leverage longs got wrecked, triggering a chain of automatic sell-offs.

🌍 Macro Pressure: Global markets are shaky, with interest rate worries adding to crypto volatility.

📊 BTC RSI is deeply oversold, suggesting a bounce could be near — but caution is key. Support sits around $115,000, while resistance looms at $117.3K–$118K.

💬 Are you buying the dip or waiting for the dust to settle?

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