Bitcoin Price Drops Below $111,000 Amidst Whale Sell-Offs

The Bitcoin price has experienced a sharp correction, dropping below $111,000 after recent significant sell-offs by institutional investors. This decline follows an all-time high of over $124,000 this month, impacted by heavy whale selling and market volatility. 430 BTC were recently purchased for $51.4 million by Michael Saylor, a notable Bitcoin bull. Institutional flows have reversed from inflows into outflows as concerns around the macroeconomic environment continue to impact these investors.