Bitcoin (BTC) is currently trading near $113,854 following a recent period of volatility. A significant liquidation event of $105.77 million in Bitcoin has been reported, highlighting the intensifying bear pressure across the cryptocurrency market. Major cryptocurrencies have experienced sharp declines, with Bitcoin’s price mirroring this downward trend. 24-hour trading volume for Bitcoin has surged to over $72 billion, illustrating the heightened activity amid market uncertainty. 20% of trading occurs on Coinbase. 13.77% increase in daily trading volume and a high of $115,906 are noteworthy indicators of market tension. The price action shows a series of ups and downs, with the asset potentially sliding back towards five-digit figures. 24-hour trading volumes have increased by over 13.77% as Bitcoin’s price fluctuates. On-chain data points to support zones near $112,800, $91,400 and $70,000 as potential buying pressure areas for investors if the prices dip. Technical analysis suggests a bearish outlook with the MACD line below the signal line, while Chaikin Money Flow (CMF) shows selling pressure. A RSI reading of 36.53 further confirms the bearish sentiment. The Bitcoin Bull Bear Power (BBP) stands at -1,596.06, indicating significant bearish dominance in the market.