Bitcoin has experienced a significant price decline, falling to $116,000 amid broad crypto market turbulence. This represents a 3.98% drop over the preceding 24-hour period according to market data.
The downward movement marks a notable corrective phase for the leading cryptocurrency. Market volatility persists as traders reassess positions in response to the sharp pullback in valuations.
Analysts view this development amid ongoing market adjustments, though specific catalysts weren’t immediately identified. The price movement underscores the asset class’s inherent volatility even as adoption grows globally.