#BinanceHODLerPLUME #bitcoin #PowellWatch
Bitcoin (BTC) is experiencing a moderate pullback after reaching record highs above **\$124,000** last week. 📉 As of today, August 18, 2025, it’s trading around **\$116,325**, dipping about 2–3% amid profit-taking and broader market caution. This kind of correction is typical after a strong rally, especially when traders lock in gains. Despite the drop, BTC is still holding above key support near \$115,000, showing some resilience in the face of short-term volatility. 💹
Several factors are contributing to the current decline. Two major Bitcoin holders, or “whales,” sold off around **30,000 BTC** (worth over \$3.4 billion), adding selling pressure. 🐋 On top of that, a flash crash triggered by leveraged position liquidations wiped out nearly **\$111 million**, causing a sharp, temporary dip. Meanwhile, technical indicators like RSI and MACD suggest that BTC might be oversold in the short term, hinting at a possible rebound if market sentiment stabilizes. 📊
Institutional caution is also growing, with the cost of downside protection on BlackRock’s Bitcoin ETF hitting its highest level since April. 🛡️ This signals rising concern among large investors about near-term volatility. Still, the long-term outlook remains positive as Bitcoin consolidates gains and awaits its next move. If it holds support near \$115K, analysts believe a bounce back toward \$117K or more could happen soon. 🚀
