Bitcoin Risks Drop To $108K, But Dip Buyers Step In

Bitcoin's price recently fell to a 2-week low of $108,865, moving below $109,000 as selling pressure persisted, particularly during the Asia trading session. Despite this decline, data indicates that spot buyers are increasing their orders. A significant trend revealed in the liquidations data suggests that the sell-off could extend towards $107,000. An important aspect is the bid-ask ratio, which has shown a tilt towards buyers for the first time since early September. This shift suggests a rise in demand at the current price as spot buyers entered as Bitcoin's price dipped. Institutional selling, however, continues to exert considerable pressure and is outweighing retail investor buying. As the market fluctuates, the re-emergence of strong buy orders at lower price levels could signal a potential recovery, following previous patterns observed in earlier market cycles.

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