🚨#bitcoin FLASH CRASH 😭: BTC Dips Below $113K – What’s Driving the Drop?
Bitcoin (BTC) plummeted from $123,218 to $112,722, now trading at $113,141 (-2.47% in 24 hours). With $2.9B in USDT volume and 25,214 BTC traded, panic grips the market. Here’s why:
Technical Breakdown: BTC breached key supports at $118.9K, $115.5K, and $113.7K, now turned resistance, signaling a bearish shift.
Whale Selling: Heavy sell-offs at $123K triggered cascading liquidations and stop-losses.
Weak Buyer Support: Minimal bounce volume at $112.7K shows fading bull confidence.
Macro Jitters: Geopolitical tensions, including Trump’s comments on India-Russia ties, and global risk aversion rattled investors.
Technical Snapshot:
1H Chart: Weak bounce at $113.7K; sellers dominate.
4H Chart: Bearish MA crossover; risk of sub-$112.7K drop.
1D Chart: Bearish engulfing candle; next supports at $107.9K, $102.4K.
What’s Next?
Relief Rally (Unlikely): Reclaiming $115.5K could push BTC to $118.9K.
Continued Drop (Likely): Losing $112.7K targets $110K–$102K.
Strategy: Scalpers await $113.7K signals; swing traders avoid longs; spot buyers eye $107K–$102K. Leverage users, use tight stops. The next 48 hours are pivotal—$112.7K holds the key.
Key Levels:
Resistance: $113.7K, $115.5K, $118.9K
Support: $112.7K, $110K, $107K, $102K
