A significant dip in Bitcoin’s price below the crucial $116,000 level has triggered substantial long liquidations on major centralized exchanges. These events have shaken the crypto market, impacting trader behavior and investor sentiment. 💰 📈 The amount of liquidations reached between $700 million and $979 million across various platforms like Binance, OKX, and Bybit. Notably, these exchanges were primarily responsible for the largest liquidations, which affected both Bitcoin (BTC) and Ethereum (ETH), as well as other prominent cryptocurrencies. 🌎 🤝 While the specific causes remain unclear, a shift to risk-off sentiment in the market was evident. The lack of direct statements from leading exchanges highlights the decentralized nature of this event. 👀 The drop led to opportunistic buying, as evidenced by approximately 120,000 BTC accumulating below $114,000. These trends suggest potential buying opportunities for investors looking to capitalize on current market dynamics. 🤑 According to Glassnode, a leading analytics provider, the dip prompted investors to acquire 120,000 BTC at price levels below $114,000. This suggests a strategic buy-in strategy as investors seek undervalued assets during market downturns. 📚 However, the $110,000–$116,000 price band remains relatively light on aggregate supply, implying a possible buying opportunity in the near future. 💡