$BTC
Holding Strong Above $100K – A Healthy Pullback? 📊
Let's talk Bitcoin. For over 25 days now, BTC has impressively held above the $100,000 mark, even hitting as high as $110,000 recently. That's a strong statement on institutional confidence and overall bullish sentiment that's been building.
However, we're seeing some volatility today. After those initial gains spurred by US inflation data, Bitcoin has dipped by about 2.72% to around $104,300. This was accompanied by over $294 million in liquidations across the board – a clear sign of profit-taking and leverage being flushed out.
Despite this pullback, Bitcoin's dominance has actually increased to around 63.64%, showing that capital is still flowing into the king coin amidst broader market corrections. With roughly 95% of the maximum supply already in circulation (~19.88M BTC), scarcity is a real factor.
Trading volume and market cap are down slightly, reflecting some caution, which is normal after a run-up and liquidations. The market is now watching key support levels closely. Is this a healthy reset before the next leg up, or do we see a deeper retest? Only time will tell, but the underlying narrative of adoption and scarcity remains potent.
