💰 $BTC Hits $123,231, Drops to $116,700
After setting a new all-time high, Bitcoin pulled back over 5% as investors locked in profits, hinting at short-term consolidation.
📊 Profit-Taking Fuels the Dip
Glassnode data shows over $3.5B in profits realized:
$1.96B by Long-Term Holders
$1.54B by Short-Term Holders
This suggests seasoned investors saw $123K as a smart level to trim positions.
🛡️ Key Support at $110K
Analysts say the $110K zone—aligned with EMA ribbons and June’s high—could serve as a strong bounce point if tested. Despite the dip, Bitcoin's structure remains bullish.
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