Bitcoin Plunges Below $113,000: A Signal for Contrarians?

Bitcoin experienced a sharp decline below $113,000 recently, triggering concern among retail investors. This drop of over 8% from its peak at $124,000 sent waves of pessimism through the market. However, some analysts see a contrarian signal that could indicate a reversal. These potential signals include institutional buying in the face of extreme negativity and strong technical indicators pointing to a possible rebound rather than a sustained bear market.