🚨 Bitcoin falls to $117,800 after profit-taking following the ETF debut in Hong Kong
📉 $BTC is trading at $117,792, after pushing $120K, reflecting a technical profit-taking after the launch of the new ETF “Pando” on HKEX.
🔍 Context:
– Pando Bitcoin ETF debuted today in Hong Kong, with a gain of +10% in its pricing and local popularity .
– That initial momentum generated purchases, but BTC is now correcting by 1.7%, which is natural after an event of this type.
– Reuters confirms that Hong Kong already has several spot ETF products, which reinforces the flow into the region .
📊 Levels to watch:
• Short-term support: $116,500–$117,000
• Intraday resistance: $119,500–$120,000
➡️ A technical rebound from these levels would reinforce the validation of $120K as new support.
💡 The entry of the Asian ETF is key, but the market may stabilize before attempting a new advance.
👇 Ready for a rebound or are we waiting for consolidation?
