Bitcoin Plummets Below $114,000 as Analysts Predict Deeper Correction

Recent analysis from MakroVision reveals Bitcoin’s price currently rests below the $113,000 mark after failing to hold the key support level of $114,200. This drop follows the coin breaking through its short-term bearish trend channel, highlighting persistent selling pressure. The firm attributes this decline to the failure of the $114,200 level as a crucial barrier, now opening the door for further price drops towards lower targets.