📉Bitcoin -1.88% After Reaching $123,000 — Market Cools Off Due to Profit-Taking and Regulatory Uncertainty

🧠 What's Happening:

– After a monthly price increase of 12.75%, traders are taking profits

– $128 million in liquidated BTC (+86% in 24 hours) triggered a sell-off

– The #GREAT ACT has created instability — the story of the dollar backed by gold → shifting to stable cryptocurrencies

🔍 Deep Dive:

BTC dropped from 123,091 to 118,082 (-4.1%). This local high aligns with the Fibonacci extension level of 78.6% at 129,839 — where 44,000$BTC was sold at a loss.

📊 Technical Information:

– RSI cooled down to 65.65 → buying pressure is gradually decreasing.

– MACD chart turned negative → confirms the downtrend.

– Key support at 117,237 — breaking below this opens the way to 110,689.

📈 Derivatives:

– Open interest at 795B (+6.7% 24h)

– Leverage remains high — funding rate +0.011%, mass liquidation risk still exists.

💡 ETF inflows are slowing down: only up 2.3% in 7 days compared to an 8.9% increase in 30 days — institutional momentum is weakening.

🧭 This could be a healthy correction in the broader uptrend. However, excessive leverage and regulatory changes will add to the fragility.

👉 Can the bulls defend the 117,000 zone and move towards 130,000?