Bitcoin dips to 24h low of $116,650 on Exmo

I observe that Bitcoin (BTC) has recently dipped to a 24-hour low of $116,650 USD on Exmo. This indicates a short-term decline in Bitcoin's price, which could reflect broader market volatility or a temporary correction amidst current trading conditions.

Such a price movement might be influenced by various factors including macroeconomic developments, shifts in investor sentiment, or technical corrections within the crypto market. The $116,650 level may serve as a support zone, but it also signals caution for traders and investors observing Bitcoin's recent price action.

As an experienced crypto analyst, I believe monitoring whether Bitcoin can sustain above this support level will be crucial. If the downward momentum continues, it might suggest further short-term downside, but if buyers step in at this level, a potential rebound could be expected. This fluctuation highlights the inherent volatility of Bitcoin and the importance of careful risk management during such price swings.