#bitcoin

Bitcoin Dips Below $120K: Is the Rally Losing Steam?

As of Aug 23, 2025, $BTC has slid to ~$115,347, down 7.7% from its recent high above $124K. ๐Ÿ“‰

Market data from CryptoQuant shows fading buyer momentum on Binance, with sellers dominating as buy-side liquidity dries up. Net outflows hit -$600M, signaling cautious traders and profit-taking near $120K resistance.

Interestingly, unusual flows from Binance to miner wallets (averaging >10 $BTC per transaction) hint at miners holding back supply, potentially eyeing a rebound. Could this be a strategic move, or just a pause in the rally? ๐Ÿค”