Bitcoin’s $116K Resistance Crushed, Potential Bounce Lies at Support Zone

After a failed attempt to break through the $116,000 mark, Bitcoin is currently facing headwinds. Traders are now watching closely for support around the $110,000-$111,000 range as key indication of potential rebounds. This comes amid strong investor confidence reflected in over $2 billion in ETF inflows. Elon Musk’s recent comments on Bitcoin and energy production highlight the unique position of this asset as tied to a tangible resource.