Bitcoin Plummets $4,000 After New All-Time High; Will $112K Halt 3% Slide?

Bitcoin experienced a significant drop of nearly $4,000 after reaching an all-time high of $126,198.07 on October 6th. This 3% fall has triggered concerns among traders as the market focuses on the crucial support level of $112,200, which could dictate its future direction. 3.5 Billion in institutional inflows demonstrate growing confidence in Bitcoin’s long-term potential. However, a dip below this level could fuel panic selling and intensify downward pressure, potentially triggering a short-term correction.