Short-term trends
BTC previously reached a historical peak of around 123,000 USD earlier this week, largely due to strong buying from ETF funds and institutional investors.
Currently, the price is in a consolidation phase around the 117–120k USD range; many analysts state that BTC needs to hold above the support level of around 115–116k to avoid a deeper correction.
A new wave of ETFs (e.g., BlackRock's IBIT) is pouring billions of USD into the BTC market, contributing to pushing the price to new highs.
Some BTC whales 'waking up' and taking profits could cause short-term fluctuations; however, the momentum of institutional capital inflow remains a positive foundation.