Market Pullback Update
1. 🧭 What’s happening
Over the past week, Bitcoin dropped from approximately $108K–$110K to a range near $104K–$105K, marking a 3–5% pullback. Ethereum, Solana, and others faced even steeper drops—platforms like SOL fell nearly 8–9%   .
2. 🧩 Pullback drivers
• Rising geopolitical tensions (e.g., Israel‑Iran) fueled risk-off sentiment. Bitcoin briefly dropped below $103K .
• Institutional traders took profits: spot ETH ETFs saw $11.3M outflows, while BTC faced liquidation pressure near $108K resistance .
3. 🔍 Technicals & on-chain context
• BTC consolidated within $103.4K–$105.6K, bounded by key EMAs and a symmetrical triangle .
• On‑chain metrics (MVRV, RHODL) show long‑term holders are dominating, suggesting this pullback could be minor before continuation .
4. ✅ What to watch
• A potential retest of $104K–$105K zone; a drop below may open deeper downside toward $103K or even $100K.
• A bounce above $106K–$107K could reshape resistance into support and resume uptrend.
5. 🧠 Quick take
This pullback is consistent with healthy bull market dynamics—short-term consolidation after multi-month highs. Accumulation zones are intact, and seasoned investors continue to hold .
