#Bitcoin Price Drop: Key Factors and Outlook
Bitcoin fell 2% to $115,500, driven by three main factors:
1. Options Market Impact
- $5.6 billion in BTC options expired
- Max pain price at $117,000 led to position unwinding
2. Technical Breakdown
- Price fell below key support at $118,859 (23.6% Fib level)
- $81 million in liquidations occurred as momentum turned bearish
3. Macroeconomic Pressure
- New U.S. tariffs (10-41%) strengthened the dollar
- DXY index rose 3% over six days
Current Market Conditions
- Fear & Greed Index dropped to Neutral (57)
- RSI at 49.44 suggests room for further downside
- Next important support at $114,500
What to Watch
- ETF flow trends
- Dollar strength developments
- Price action around $114,500 support
The market now waits to see if this is a temporary correction or the start of a deeper pullback.
What are your thoughts on
$BTC near-term direction?
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