Bitcoin Faces Critical Price Movement Beyond 113,000 Dollars

Key Points

1. Bitcoin is navigating a rising wedge formation, and a drop below $113,000 could trigger a fall to $95,000-$98,000.

2. Galaxy Digital sold over 10,000 BTC, contributing to a 3% price drop in one hour and $144 million in liquidations.

3. The 24-hour trading volume increased by 23% to $87.46 billion, but analysts warn of a 'late buyer trap' due to volatility.

4. Captain Faibik emphasizes caution, advising traders to monitor resistance zones and volume confirmations.

5. Market volatility and whale activity are key factors influencing Bitcoin's price movement.