$BTC

Bitcoin is currently trading around $116,785, down approximately 4.7% from its recent intra-day high of $122,632. That peak was part of a rally that saw BTC briefly hit all‑time highs near $123,000 amid bullish sentiment tied to new U.S. crypto legislation and institutional inflows .

Key Drivers Behind Today’s Price Action:

• Profit-taking following recent record highs made BTC retrace from ~$123K to the current ~$117K–$122K range .

• Institutional demand is strong, buoyed by “crypto week” in U.S. Congress with progress on bills like the Clarity Act and Genius Act .

• On-chain indicators and shrinking spot volume suggest accumulation with momentum analysts calling for further upside .

Market Context:

• The broader crypto market cap has surged to around $3.8 trillion, with altcoins dropping up to 10% today in the wake of BTC’s pullback .

• Projections remain optimistic: some analysts foresee BTC testing $125–$130K in mid-July, possibly reaching $160K or even $200K by year-end on continued ETF inflows .

📊 What This Means for You

• The dip could be a buying opportunity for investors tracking medium/long-term positions, assuming the legislative momentum holds.

• Volatility remains high — BTC may dip back toward the $115–112K support zone if short-term sentiment turns negative .

• Monitor regulatory updates, U.S. inflation data, and ETF flow reports—these factors could swing prices sharply.

Would you like a deeper dive into on‑chain trends, upcoming U.S. crypto regulations, or how BTC’s moves are affecting other cryptos?$BTC