Bitcoin slides below $117.5K amid warnings further $BTC price drops next
BTC price action turns weaker after the Wall Street open, with Bitcoin market participants bracing for lower levels despite bullish US macro data.
Key points:
Failure to reclaim $120,000 could spell trouble for Bitcoin bulls.
Whales appear to be offloading at local highs, creating further hurdles to price upside.
Short-term holder cost bases feature as local support lines of interest.
$118,273
gave up attempts to crack $120,000 at Tuesday’s Wall Street open as traders stayed split on market strength.
