Bitcoin Falls Below $120K, Analysts Expect Quick Rebound

Bitcoin (BTC) dropped to $117,764, marking a 3.7% decline from its recent all-time high of $126,000, sparking short-term bearish sentiment across crypto markets. Analysts predict a possible dip toward $118,000–$120,000 before the uptrend resumes, as futures data suggest a healthy market reset.

According to  Markets Pro, Bitcoin futures open interest (OI) declined by $4.1 billion a sign of leverage reduction and profit-taking by traders. Analysts, including Stockmoney Lizards and Ted Pillows, expect the correction to end near $118K, followed by renewed bullish momentum.

Market data  shows around 190,000 BTC were last purchased near the $117,000 level, indicating strong buying support. Despite volatility, experts like Michael van de Poppe believe Bitcoin is “ready to continue toward new all-time highs.”

This short-term dip is viewed as a “healthy reset” after an overheated market, with traders anticipating renewed demand once key support levels hold firm.

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“This flush should end soon, around $118,000–$119,000, then higher,” said market analyst Stockmoney Lizards, reflecting optimism for Bitcoin’s rebound after a short-term shakeout.

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