Bitcoin’s drop to $118,000 is a possibility, but traders might see futures’ open interest drop by $4.1 billion as a potential dip-buying opportunity.
Key takeaways:
BTC price may drop to the $118,000-$120,000 range before resuming its uptrend, analysts say.
Bitcoin futures open interest fell by $4.1 billion from its peak, potentially indicating a “healthy” reset.