Bitcoin – Cooling Off or Loading Up for the Next All-Time High? 🔥

Bitcoin is catching its breath after a record-breaking summer. Just days ago, $BTC surged past $124,000—smashing previous highs and sending social media into a frenzy. But the celebration was short-lived. As of today, the king of crypto has slipped to the $119,200–$119,800 range, a dip of roughly 4% from its peak.

The sell-off was triggered by hotter-than-expected U.S. wholesale inflation data, which sparked fears that the Federal Reserve could delay its much-anticipated rate cuts. This shook risk sentiment across global markets, leading to over $1 billion in leveraged $BTC positions being liquidated in under 48 hours.

Despite the pullback, market structure remains firmly bullish. On Binance charts, BTC’s daily candles are still well above the 50-day EMA, and the $118K–$119K zone has emerged as a key short-term support. Analysts say if this level holds, a retest of $122K is possible as early as next week, especially if upcoming U.S. retail sales data eases macro fears.

Institutional demand is also refusing to cool. Spot Bitcoin ETFs continue to rake in inflows, with last week marking the second-highest weekly net buying since their January launch. Corporate treasuries are quietly adding $BTC

as a hedge against currency risk, and BRICS nations’ ongoing de-dollarization efforts are fueling speculation about Bitcoin’s role in future cross-border settlement systems.

However, traders should stay sharp. Historically, post-ATH pullbacks can deepen before the next leg higher. A break below $118K could invite a sharper correction toward $113K–$115K. On the flip side, sustained ETF inflows and dovish Fed commentary could set the stage for a Q4 push toward $130K—a level some analysts see as the next major psychological battleground.

#BinanceAlphaAlert #USChinaTensions #MetaplanetBTCPurchase #DELABSBinanceTGE #CPIWatch