$BTC Bitcoin’s pullback from record highs is driven mainly by profit-taking and macro signals (surprising PPI/inflation prints + Fed/Jackson Hole uncertainty), amplified by sizable market liquidations. Favor conservative probes on a clean retest around 114–115k with SL under 112k, or wait for a volume-confirmed breakout above 118.8k. Monitor Fed commentary and liquidation flows closely to decide whether to hold or exit early.