It is dropped to $108k. But now, the price has reached $110k. And the price trying to increase more. The drop makes some traders close their trade for a while but that will not be a problem. But the situation can continue until the end of this month.
After declining to $108k, it could return to $112k recently. Sure, it isn't a good sign but I'm sure it will be fine as long as it can stay above $110k. No doubt the traders prefer to close their position because the market tends to be more difficult to predict.