Bitcoin drop 8% to $115K amid liquidation plus macro wahala
Bitcoin price drop come down nearly 8% from im all-time high of $124,496 to about $115,000 this week. Di price drop cause over $500 million liquidation among leveraged traders, e make the crypto market yawa well well. Ethereum price follow am, fall 4% to $4,283. Di big sell-off show sey people dey worry about macro matter again, as inflation data and possible central bank policy change dey affect risk assets. Traders dey watch key support levels—$115K for Bitcoin and $4,200 for Ethereum—to sabi if na just small pullback or e be the start of deep correction. Di economic releases and liquidity trend wey dey come go sure pass anyhow direction crypto go take.
Bearish
Dis price decline na dis bearish for short term. Di sharp drop from record high trigger big leveraged liquidation and increase volatility, e remind us of past corrections after big highs for 2021 and 2023. New macroeconomic wahala—rising inflation data plus possible rate hikes—don weigh down risk assets, make selling pressure strong. If Bitcoin break $115K and Ethereum fall below $4,200, more losses fit happen. But if these supports hold, e fit mean consolidation before another rally. Traders suppose dey watch liquidations, on-chain metrics, and macro indicators to check if market go stabilize or continue to dey go down.