Bitcoin Dips Below $118,000 Amid Market Volatility

Bitcoin’s price plunged below the crucial $118,000 threshold today, driven primarily by macroeconomic pressures and a sense of regulatory uncertainty. Over $1.89 billion in long positions were liquidated, fueling market volatility. While no official statements have come from major industry figures regarding the downturn, the decline underscores the ongoing uncertainties surrounding Bitcoin’s future.