📈$BTC After reaching an all-time high of $123,000 on July 14, the current price of Bitcoin (BTC) is correcting to $116,700, down nearly 5% in the last 24 hours. Is this the end of BTC's strong rally, or conversely, an opportunity to buy?
🔍 What is really happening?
Bitcoin has enjoyed great momentum since the beginning of July, driven by a combination of fundamental and technical factors, such as:
✅ Support from institutions for spot Bitcoin ETFs
✅ The Crypto Bill in the U.S. is being discussed during "Crypto Week"
✅ Retail & institutional investor interest is increasing
However, after surpassing $120K and setting a new record, strong profit-taking took place, especially from long-term investors. Data from Glassnode shows that long-term holders realized profits of over $2 billion in just the last two days.
📊 Brief Technical Analysis
✅ RSI (Relative Strength Index) remains healthy (60–65), indicating that the market is not yet overbought.
✅ Trading volume shows a decline, indicating that selling pressure is beginning to ease.
✅ The Moving Averages (EMA 50/100/200) are still below the current price, confirming that the medium-term trend remains bullish.
⚖️ Correction or Reversal?
Many analysts agree that the current pullback is a healthy consolidation in the uptrend. Here's why:
Profit-taking is normal after a strong rally.
No major technical indicators show a bearish reversal.
The chart structure still shows higher highs and higher lows.
🧠 "As long as BTC stays above $110K, the larger trend remains bullish. This correction could be an opportunity for long-term investors." – Analyst from Guardarian.com
🏛 Macroeconomic Factors: What to watch?
Crypto Week in the U.S.
Three major bills are being discussed: Genius Act, Clarity Act, and Anti-CBDC Act. If passed, they could become positive catalysts for the cryptocurrency industry in general.
Global Macroeconomic Data
Inflation in the U.S. is slowing down, and interest rates remain unchanged. This creates more room for investors to take risks in digital assets.
ETF & Miners
Spot Bitcoin ETFs recorded record inflows last week. Meanwhile, miners also reported their highest revenues since 2021.
✅ Conclusion: What can investors do?
Day Trader: Monitor price reactions in the $116K–$118K area for signs of recovery towards the $120K resistance.
Long-term Investor: This correction could be an opportunity to accumulate, especially if prices approach $112K–$110K.
New Investor: Monitor U.S. regulations and short-term volatility. Don't rush with FOMO—gradual strategy is wiser.
✍️ Conclusion
The correction occurring today is part of the natural cycle of a bull market. No rally goes up in a straight line. For patient and disciplined investors, such pullbacks actually open new opportunities to enter the market.
🚀 "The larger trend remains intact. The question is not whether BTC will surpass $130K, but when."
