Bitcoin’s price experienced a sharp drop, leading to the liquidation of nearly $196 million in long positions as investors reacted to increased market volatility. This event has highlighted the inherent risk associated with Bitcoin trading during times of uncertainty. 💰 The sudden drop below the crucial $107,000 support zone sparked this significant market movement. While Bitcoin’s dominance has declined, analysts point towards Ethereum and other altcoins demonstrating resilience in the face of these turbulent market conditions. 📈 The price decline saw substantial outflows from Bitcoin ETFs, with over $751 million recorded in August alone. This highlights the shift in investor sentiment away from Bitcoin and towards alternative assets like Ethereum and XRP. 📊 Despite the volatility, some experts remain cautiously optimistic about a potential rebound, citing growing ‘buy the dip’ interest among investors at the critical $107,600 support level. However, short-term market fluctuations are expected as long-term holders maintain their focus on these technical developments. 👀