Bitcoin dropped below $113,000 amid renewed selling pressure as traders expressed concerns over potential price manipulation. Analysts noted that bid liquidity on exchanges was taken out, particularly around $112,300, suggesting a bearish trend could continue. The popular trader Daan Crypto Trades mentioned liquidity patterns indicate important price levels could act as reversal zones. Keith Alan from Material Indicators pointed out that lower bids might invite price declines, coining terms like 'Spoofy the Whale' for large entities influencing prices. Commentary from TheKingfisher suggested that further declines in Bitcoin could adversely affect altcoins. Meanwhile, Rekt Capital observed that similar retracements in past bull markets often preceded new highs. As the market anticipates a speech from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium, all eyes are on potential monetary policy hints that could impact market expectations for interest rate cuts.

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