Bitcoin fell below $113,000 as bulls struggled to maintain support, with analysts suggesting price manipulation as a potential cause. Exchange order-book bid liquidity was under scrutiny as Bitcoin sought new local lows at the Wall Street open. Popular trader Daan Crypto Trades noted significant liquidity movements, with key price points around $120K and $112K likely acting as reversal zones. Keith Alan from Material Indicators highlighted that lower bids could suggest price manipulation, indicating that these movements can influence price direction. TheKingfisher pointed out that Bitcoin could continue to drop, which may significantly impact altcoins, potentially leading to substantial gains or losses based on BTC movements. Contrarily, trader Rekt Capital observed that similar pullbacks happened in past bull markets, indicating a potential for future growth. Market watchers are particularly focused on upcoming comments from the Federal Reserve's Jerome Powell at the Jackson Hole economic symposium, which could further affect market conditions amid speculation over interest rate cuts.

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