Bitcoin's Price Volatility Sparks Liquidations and Signals a Potential Crypto Rally

Bitcoin (BTC) experienced a significant dip in price, falling to lows of $40,200 after the weekly close. As BTC attempts to recover, traders and analysts are closely watching key support and resistance levels. The Bollinger Bands indicator suggests that the recent correction was a necessary reset and that support may hold going forward. Large-volume traders are showing signs of "buy the dip, sell the rip" behavior, with institutional-sized bids potentially returning. However, there is uncertainty as to whether these buyers are accumulating or simply taking advantage of price fluctuations. Major support is seen around $38,000, while resistance levels are at $43,850 and $46,400. Analysts believe Bitcoin will establish a new range before the end of the year.