📌• Bitcoin achieved historical ATH of $124,457 on August 14
• Price subsequently corrected 5% to $117,000-$118,000 range
• Trading volume surged to $74.87B amid heightened volatility
• BTC dominance briefly exceeded 60% before retreating
Macro Drivers & Fundamentals
• Higher-than-expected US inflation data (3.7% core CPI) triggered the pullback
• Fed rate cut expectations shifted, prompting risk-off sentiment
• Miners sold over 2,000 BTC in three days, increasing supply pressure
• ETF inflows remain strong despite short-term volatility
Technical Outlook
• Critical support established at $112,000; break below could test $108,000
• MACD signals underlying bullish momentum despite correction
• RSI in neutral territory with bearish signals showing 75% accuracy
• Long-short ratio at 67-70% indicates leveraged bulls remain confident
Strategy Considerations
• Watch for stabilization above $115,000 as confirmation of trend continuation
• Monitor ETF flow data for institutional sentiment shifts
• Consider reduced position sizing given mixed indicators
• Analyst projections remain optimistic with $150,000 year-end targets