Bitcoin ($BTC) is experiencing a notable decline in terms of market performance, while nearing October. Hence, the recent price trajectory shows a striking drop below the $112K mark amid the wider bearish momentum. In line with the latest market statistics, the sheer price drop of Bitcoin ($BTC) has raised the buy-dip calls among investors. Nonetheless, whether this slump paves the way for the next leg up remains to be seen in the near term.

The leading crypto coin has dropped below the $112K spot, plunging as low as $107,000, which is very unlike the normal price fluctuations. The respective dip has raised concerns among the institutional and retail investors alike, apart from triggering buy-dip calls across the market. Hence, the seasoned inventors consider the current price correction of Bitcoin ($BTC) as a crucial buying opportunity.

At the moment, the top crypto token is changing hands at $112,266.16, indicating a 0.38% price decrease over the past twenty-four hours. Apart from that, the market capitalization of Bitcoin ($BTC) is now sitting at $2.23T after a 0.46% drop. Simultaneously, with a 26.52% decrease, the 24-hour volume of the crypto exchange accounts for $49.57B.

In line with the exclusive reports, the speech delivered by Jerome Powell, the Chairman of the U.S. Federal Reserve, has served as a major catalyst. Powell has expressed a cautionary note, driving a pullback across the financial markets, including stocks and crypto assets. As a result of this, Ethereum ($ETH), Ripple ($XRP), and Dogecoin ($DOGE) have also recorded considerable decline.

Keeping this in view, while Bitcoin and other crypto assets are lying low amid the increased market uncertainty, the market analysts predict a rebound. In this respect, the long-term $BTC traders are leveraging this opportunity to buy the dip and prepare for the potential upswing. Even then, whether this shakeout further deepens or leads to a bull rally is yet to be witnessed over the next days.

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