Bitcoin Price Drop: Navigating the Crucial $120,000 Level

Key Points

1. Bitcoin's price fell below $120,000, reaching $119,904.41 on Binance's USDT market.

2. Possible triggers for the drop include profit-taking by large holders ('whales') and failure to hold key support levels.

3. The $120,000 threshold is significant as it often influences market sentiment and trading activity.

4. A drop in Bitcoin's price frequently leads to increased volatility in altcoins, as Bitcoin is a market leader.

5. Investors are advised to focus on risk management and long-term strategies during periods of volatility.