Bitcoin Pullback Amid Market Consolidation! 🚨
$BTC is trading around $110,325, down roughly 2% over the past 24 hours as the market cools off following its recent all-time high. The Fear & Greed Index has dipped to 34, signaling a rise in investor caution.
This retracement appears to stem from a classic “sell-the-news” reaction after the Fed’s latest rate cut and hawkish remarks, which added a layer of uncertainty to broader markets.
Despite short-term pressure, institutional confidence remains strong, with regulators in the US, UK, and Hong Kong progressing toward spot Bitcoin ETP approvals. While long-term holders are taking profits, ETF inflows continue to provide downside support.
🔑Key technical levels to watch:
⚡Support: $104K–$106K
⚡Resistance: $120K–$124K
🔞 Overall, this consolidation phase looks more like a healthy reset than a trend reversal. Range-bound trading strategies remain effective, and any high-volume breakout could signal the next leg upward.
With the Bitcoin halving approaching, many investors see this pullback as a strategic DCA opportunity rather than a reason for fear.