$BTC

BTC continued to break records during the day yesterday and broke a new record by surpassing $123,000.

However, this upward momentum was short-lived. After reaching a record high of $123,000, Bitcoin's price began to decline, falling to $117,000.

This decline was also reflected in altcoins. Ethereum (ETH) fell below $3,000 again, dropping to $2,950. XRP fell 2.4% in the last 24 hours, Solana (SOL) fell 4.4%, and Dogecoin (DOGE) fell 6.6%.

Analysis firm Alphractal stated that this decline was due to reduced buying pressure and selling pressure from investors seeking to take profits.

Stating that this decline is normal, Alphractal stated that the current phase represents a natural correction phase and should be monitored carefully until the market stabilizes.

Alphractal CEO Joao Wedson also stated that he expects a short-term correction. He noted that the downward trend could continue for some time, predicting that the BTC price could drop to as low as $108,000 before rising to $143,000-$148,000.

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