By Chris Hollingworth 
Bitcoin encountered strong resistance at the $117,500 level, prompting a significant sell-off in the market. The key challenge now lies in the ability of the bulls to uphold the price of BTC above the critical support level of $115,500. This price point will be closely monitored by investors and analysts as an indicator of market sentiment and potential future price movements.
In contrast to Bitcoin’s temporary setback, the broader outlook for most altcoins remains positive, with expectations of continued upward momentum. Altcoins are showing resilience and strength in the face of Bitcoin’s fluctuations, indicating growing confidence in the overall cryptocurrency market.
Investors are advised to closely monitor key price levels and market trends for both Bitcoin and altcoins to make informed decisions regarding their investment strategies. The cryptocurrency market continues to exhibit volatility and rapid shifts, underscoring the importance of staying informed and vigilant in navigating this dynamic landscape.
