Bitcoin has fallen below the 117,500 USD mark, signaling caution among bullish traders. Whales are offloading assets near local highs, raising the risk of further decreases. Short-term holders might find support at their cost bases.
The market shows division among traders regarding future movements, influenced by mixed US macroeconomic data. As Bitcoin relates to key price levels, analysts warn that without reclaiming 120,000 USD, further declines could point to targets below 110,000 USD.
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