#CreatorPad

• Bitcoin is currently trading at $116,407.99, a decrease of 4.8% from its all-time high of $124,457 on August 13

• A critical support zone has been established in the range of $117,000-$118,000, which is the current battleground in the market

• Bitcoin's dominance has decreased from 59% to 59.8%, while Ethereum gained 25.5% last week, indicating a rotation in the sector

Key Influencing Factors

• U.S. Producer Price Index (PPI) data triggered a significant influx of $126 million in liquidation within one hour

• Blockchain metrics indicate that large Bitcoin holders are moving to exchanges (a bearish signal)