Despite the RSI indicating room for movement, many altcoins are sharply falling, with only about 10% trading above their 200-day moving averages, pointing to widespread hesitation and potential for additional dips.

Bitcoin recently peaked near $115,963 before dropping about 3.5% to around $111,800, amid mixed technical signals and broad altcoin declines.

Market analysts warn that Bitcoin could retest its October lows, with a 60-75% chance of falling back to support levels between $108,000 and $109,500, especially if resistance near $115,300 to $117,000 holds.

Meanwhile, stablecoin inflows totaling $590 million into Binance suggest traders are preparing for either a market bounce or further decline, depending on upcoming sentiment shifts.

Alternatively, Bitcoin might enter a sideways consolidation phase, trading within a range as traders await clearer catalysts such as macroeconomic data or regulatory decisions.

Large inflows of stablecoins reflect investor readiness for both a bounce and a dip; healthy pullbacks could strengthen future gains, but support levels must hold to prevent accelerated declines.