Bitcoin Price Plummets: Is a $110K Target Impossible Now?

After a significant 5% dip, Bitcoin’s price has fallen to around $104,922, marking a notable loss for investors. Daily trading volume has surged by over 44%, reaching $100.99 billion, and liquidation of assets worth $412.34 million took place in the process. The crypto market’s current downturn is reflected in the Fear & Greed Index, which currently sits at 28 – a sign of fear. Charts indicate a downward trend, with Bitcoin (BTC) leading the sell-off after breaking below the $110K mark earlier in the day.