Recent fluctuations in the cryptocurrency market have seen Bitcoin drop below the $110,000 mark for the first time in over six weeks. According to CryptoAppsy, this decline has been attributed to profit-taking and shifting interest rate expectations. After a brief surge fueled by Federal Reserve Chair Jerome Powell’s hints of potential rate cuts at his Jackson Hole speech last week, market optimism waned, leading to selling pressure as the new week commenced. This downturn was accompanied by heightened risk aversion within the market. 🧠💰 Analysts attributed Bitcoin’s recent dip to profit-taking and technical resistance, with its attempt to reach $117,000 before retracting indicating weakening momentum.