Bitcoin has fallen under the critical $118K threshold, with analysts cautioning that the breakdown could trigger renewed selling pressure and stall the recovery.
The leading cryptocurrency slid more than 2% in the past 24 hours, trading at $115,200 on Monday. Weak U.S. economic data, fading investor confidence, and lower expectations for Federal Reserve rate cuts have added to the bearish mood, fueling doubts about whether Bitcoin can quickly rebound.
According to CryptoQuant analyst Crazzyblockk, $118,000 represented the average entry point for investors who bought Bitcoin last month, holding around 1.69 million BTC collectively. Holding above that level was seen as vital for keeping new investors in profit and sustaining positive momentum.
With Bitcoin now trading below this price, analysts warn that sentiment among recent buyers could shift toward selling, increasing the risk of a deeper pullback.
Crazzyblockk explained that if Bitcoin fails to reclaim $118,000, the market could face a broader correction as confidence wanes. On the other hand, a successful move back above this threshold would reinforce bullish momentum and signal strength returning to the trend.
For traders, $118K has now flipped from strong support to a key resistance level that will decide whether Bitcoin’s recent rally can recover or if further downside lies ahead.
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