Bitcoin (BTC) drops below 108,000 USDT! What’s causing it and where is the lowest point?

———
Bitcoin (BTC), the king of crypto, has recorded a significant decline with a decrease of 2.58% in the last 24 hours. The price of BTC has fallen below the psychological level of 108,000 USDT, creating concern among investors and traders who are starting to wonder: "Is this just a healthy correction, or a signal of continued bearish trend?"

———

📊 Drop Analysis: Where is the Lowest Level?
———
Based on the 4-hour and daily chart data, here is the analysis of BTC movement:

-The lowest daily level recorded around 107,120 USDT

-A price rejection occurred at (rejection) as it approached the dynamic support of EMA 100 on the 4-hour timeframe.

-The selling volume increased sharply during the Asian morning session, indicating pressure from whales or large institutions.

-The RSI indicator is starting to enter the oversold zone ( below 35), which could be a potential short-term bounce.

———
What is the Cause of This Drop?

-Regulatory Uncertainty in the US and Europe

Some reports mention that the SEC and European regulators are tightening supervision of DeFi institutions and stablecoins, creating negative sentiment in the market.

———
-US Dollar Strengthens

The strengthening of the dollar index (DXY) puts pressure on riskier assets like crypto as investors tend to shift to safe haven instruments.

———
-Liquidate Long Position

In the last 24 hours, more than $180 million in long positions were liquidated, exacerbating the price decline.

Conclusion: Healthy Correction or Early Bearish?

———
Although the drop of BTC below 108,000 USDT is quite sharp, many analysts see this as a healthy correction in the medium-term uptrend, rather than the start of a long-term bearish trend.

———
However, if BTC breaks through the strong support in the range of 106,800 - 107,000 USDT, it is likely to test the psychological area at 105,000 USDT. Traders are advised to set risk management and wait for confirmation of a reversal signal before taking new positions.

#BTCPriceUpdate