**Bitcoin Price Prediction: BTC Dips Below $118k as Altcoins Record Huge Losses**
**Market Sentiment Shifts: Bitcoin Stagnates Around $117k**
The cryptocurrency market has taken a bearish turn over the past 24 hours, reversing the bullish trend that dominated the previous couple of days. As a result, Bitcoin’s price has dipped below $118,000, with altcoins suffering significant losses.
**Key Support Levels in Focus**
The leading cryptocurrency is now hovering around the $117,000 mark, with the $116,000 support level in sight. If bearish sentiment continues to grow, Bitcoin’s price could potentially drop below this critical level, sparking further market volatility.
**Resistance at $120,000 Proves Too Strong**
Despite its recent gains, Bitcoin has been unable to break through the $120,000 resistance level, which has capped its upward momentum. This has led to a period of stagnation, with the cryptocurrency struggling to find direction.
**Altcoins Bleed in Synchronized Selloff**
It’s not just Bitcoin that’s feeling the pain – altcoins have been hit particularly hard, with many recording significant losses over the past 24 hours. This synchronized selloff has wiped out gains made during the previous bullish run, leaving investors reeling.
**What’s Next for Bitcoin?**
As the market continues to fluctuate, all eyes will be on Bitcoin’s next move. Will it be able to regain its footing and push through the $120,000 resistance level, or will bearish sentiment continue to drive its price downward? One thing’s for sure – the coming days will be crucial in determining the direction of the cryptocurrency market.
**Stay Ahead of the Curve**
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