The statement is strongly supported by a credible source. Source 7 (CNBC) explicitly reports that Bitcoin was 'trading below the $117,000 level' at $116,484, which confirms the price dropped below the $118,000 threshold. The same source mentions a daily decline of over 2.8%, which is consistent with a 'minor daily decline.' While Source 1 (Coinbase) shows a current price slightly above $118,000, this does not invalidate the fact that a drop below that level occurred, as is common with price fluctuations within a trading day.