Bitcoin has dropped below 117,000 USD, its sharpest decline in a month, raising concerns among traders. Historical patterns during Asia’s ‘ghost month’ suggest further correction, with an average decline of 21.7% since 2017.
Onchain data shows rising demand for Bitcoin, particularly in the US and Korea, hinting at potential short-term recovery. However, current price trends suggest a possible dip to around 105,000 USD before any recovery takes place.
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