🚨 BTC breaks key support and retreats after historical highs 🚨
Bitcoin (BTC) fell below $117,000 today, marking its lowest level in several days, after reaching a new historical high near $124,480 this week.
📰 Fundamental factors of the drop:
📈 Inflation higher than expected in the U.S. (PPI) → Reduces expectations for aggressive rate cuts by the Fed.
💰 No new BTC purchases by the U.S. Treasury → A blow to market sentiment and triggering of technical sales.
💹 Massive profit-taking → After the historical rally, large holders (“whales”) have closed positions, increasing the downward pressure.
🌐 Widespread selling in the crypto market → Risk appetite declines and outflows affect BTC and altcoins.
📊 Technical analysis 1H:
Broken support: $117,250–$117,000 (previous defensive zone) → now immediate resistance.
Bearish targets:
🎯 $116,600 (first level to watch)
🎯 $115,800–$116,000 (potential bounce zone)
🎯 $114,500 (major support if the pressure continues)
Key resistances:
🔼 $117,200–$117,500 → probable pullback if there is a bounce.
🔼 $118,000–$118,300 → intraday ceiling.
📈 Possible short-term scenarios:
1. Downward continuation: If it does not recover $117k, we could see drops towards $116,000.
2. Technical bounce: If demand appears near $116,600, possible return to $117,500–$118,000 before deciding direction.
💡 Conclusion: BTC enters a corrective phase after historical euphoria. The $117k support is now the dividing line: as long as it does not recover strongly, the intraday bias remains bearish.
