Bitcoin Plummets Below $113,000, Sparks Retail Fear as Analysts See Potential Buy Point

Bitcoin has experienced a significant dip to $112,600, triggering panic selling among retail traders and fueling the most bearish social sentiment since June. However, analysts are interpreting this retracement as an opportunity for potential buyers, drawing parallels to past bull cycle corrections that ultimately led to new all-time highs. This decline has been driven by a combination of factors including declining investor confidence and increased short-selling activity.