Bitcoin Dips Below $117,000: Possible Factors and Strategic Considerations for Investors

Key Points

1. Bitcoin's decline below $117,000 is attributed to macroeconomic pressures, regulatory ambiguity, and profit-taking by large holders ('whales').

2. Technical analysis indicates the failure to maintain support at $117,000 has intensified market volatility.

3. Investors are advised to use strategies like dollar-cost averaging (DCA) and diversification to manage risks during market downturns.

4. The Bitcoin Dominance Index (BTC.D) reflects broader crypto market trends, including the growth of NFTs and Layer 2 solutions.

5. Market participants should avoid panic selling or FOMO-driven buying and focus on long-term opportunities in fundamentally strong projects.