#BTC #BTC120kVs125kToday Current Price Bitcoin is trading around $117,300, down about 2–3% from yesterday’s record highs above $122–123K, reflecting a short-term pullback.

📊 What’s Driving the Dip?

Profit-taking: After soaring to ~$123K, traders locked in gains, leading to a ~3–5% dip .

CME Futures Gap: Analysts suggest BTC might revisit the $114K–$115K zone to “fill” this futures gap – a common pattern in technical analysis .

Regulatory Watch: The U.S. House is in the midst of “Crypto Week,” considering bills like the GENIUS Act, CLARITY Act, and Anti-CBDC Act. Anticipation around this is fueling both optimism (per record highs) and caution (recent dip) .

🔍 Technical & On‑Chain Insights

Chart Patterns: Bitcoin validated an inverted head-and-shoulders breakout on weekly charts, hinting at a potential rally to $140K–160K if support holds .

Spot Demand Zones: There’s strong buying interest in the $114K–$117.5K range (~$22B in BTC accumulated), suggesting solid support .

Whale Moves: Large holders and whales have moved BTC onto exchanges (like Binance), often a signal of upcoming volatility .

📅 Recent Trends Recap

BTC hit $123K+ highs earlier this week, fueled by legislative optimism and institutional demand .

The weekly gain stands at ~7–8%, and it's up about 23–27% year-to-date .

Spot Bitcoin ETFs saw record inflows (~$2.7–3.7 B last week), supporting sustained institutional interest .

Corporate treasuries (like MicroStrategy) and possibly government-held BTC are increasingly influential. MicroStrategy alone added over 4,200 BTC (~$472 M), pushing its holdings beyond 600,000 BTC and boosting its stock price ~55% this year .

The U.S. government’s “Strategic Bitcoin Reserve” initiative adds another layer of long-term demand .