Bitcoin Drops Below $115,000, Slides 2.8% in a Day
On August 18, Bitcoin (BTC) experienced increased volatility, dropping below the $115,000 threshold as BTC price slid to $114,929.20 on OKX, marking a 2.80% decline intraday. The price drop underscores profit-taking after recent highs and reflects broader market uncertainty amid mixed macroeconomic signals. Traders are eyeing key support levels and awaiting upcoming economic data and central bank commentary to gauge potential for a rebound or further correction.
Bearish
The decline below $115,000 signals bearish momentum as traders exited positions after recent highs, intensifying short-term selling pressure. Historically, similar intraday corrections around psychological thresholds led to brief consolidations before recovery. Without fresh bullish catalysts and amid broader market uncertainty, the drop may prompt traders to remain cautious in the short term, though longer-term outlook could stabilize if key support levels hold and macroeconomic indicators improve.