(BTC) is trading above $118,000 at the time of writing on Wednesday #NFTMarketWatch day, slightly up on the day but consolidating within a tight range after reaching a new all-time high of $123,218 in the previous week. The momentum has shifted towards slightly bearish as a $131.35 million outflow was observed on Monday from US-listed spot Bitcoin Exchange Traded Funds (ETFs), breaking a nearly three-week streak of daily inflows that began on July 2. The technical outlook also suggests a short-term correction, as indicated by the Moving Average Convergence Divergence (MACD) indicator, which shows a sell signal.