Bitcoin Price Plunges, Amidst Concerns of ‘Predatory’ Trading Activity

Bitcoin (BTC) experienced a significant correction, dropping over 4% from its recent high. While the cryptocurrency remains in a consolidation phase, analysts are anticipating further volatility due to increased open interest on derivatives markets and suspicious trading activity. 📈

Short-term market trends suggest a potential local bottom forming around $114,000, according to various crypto experts who have highlighted this as a possible support level. However, the sudden decline in Bitcoin prices has sparked concern about predatory strategies employed by large-volume traders on exchange order books.

Popular trader Skew raised concerns about