🔻 1. Technical rejection
Failed breakout above $123K — price slipped below the 7-day SMA ($114.6K). MACD flipped bearish. Critical support now at $113.4K.
🐋 2. Whale activity
Dormant wallets moved 330 BTC ($39M) + a 20K BTC ($2.18B) transaction via Galaxy. No confirmed selling yet, but market sentiment turned cautious.
💥 3. Liquidations
$81M in long positions wiped out — accelerating the drop.
🌐 4. Macro pressure
DXY +3% in 6 days. New US tariffs boost the dollar and dampen risk appetite. #BTC futures premium dropped to 7% (from 35% in May).
📊 5. MVRV Ratio
MVRV > 3.5: Signals local top risk — most investors are in profit.
MVRV < 1: Strongly oversold — historically a good buy zone.
📌 Bottom line:
#Bitcoin pulled back after a +103% yearly gain. While institutions keep accumulating (ETF AUM $148B), short-term traders are eyeing a reclaim of $116K.
🚨 Watching: Can BTC hold $113K? A break lower opens risk to $110K.
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