Bitcoin is trading just under 118,000 USD after a 4.24% dip from its all-time high of 123,091 USD. The upward trend remains uncertain as social media sentiment turns bearish.
The whale ratio has risen to 0.52, traditionally indicating a short-term price correction. If this ratio remains high along with high whale activity, a drop in Bitcoin’s price is likely.
Support is observed in the 111,000-112,000 USD range. If Bitcoin can break 118,000 USD with decreasing whale activity, it may rally towards 122,000-124,000 USD.
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