Bitcoin’s price has declined by 2.13% over the past 24 hours, testing the critical $114,518 support level amid widespread market pressure.
Technical analysis of hourly charts indicates limited near-term volatility, with the daily Average True Range (ATR) showing most movement capacity already exhausted for the current trading session.
A false breakout beneath $114,518 suggests potential for a rebound toward $116,000 if the support level holds during ongoing market fluctuations.
Should Bitcoin record a decisive hourly close below $114,518, heightened selling pressure could drive prices down toward the $112,000 range.
The broader cryptocurrency market is mirroring Bitcoin’s decline, with most major digital assets showing losses amid the current downturn.