Bitcoin is under pressure following a failure to close above $117,200, leading analysts to predict a downward trend. A significant $4.9 trillion options expiry event is creating additional challenges for Bitcoin bulls. Traders have noted increased bid liquidity in the order books at levels around $110,000, which is seen as a potential magnet for the price. Market concerns have grown as analysts, including trader Crypto Caesar, suggest that a failure to reclaim the $117,200 level could see Bitcoin testing support lower down. Similarly, investor Ted Pillows warns of increased volatility in the crypto market due to the options expiry, historically linked with price declines in related markets. The focus on order-book liquidity indicates that most bids are accumulating below current prices, particularly between $110,000 and $113,000, suggesting potential vulnerability for Bitcoin in the short term. The Federal Reserve's recent interest rate reduction has influenced market dynamics, contributing to the observed patterns in Bitcoin and altcoins.

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