$BTC After hitting an all-time high of $123,000 on July 14, Bitcoin (BTC) price is currently correcting to $116,700, down nearly 5% in the last 24 hours. Is this the end of BTC's massive rally, or an opportunity to buy the dip?
🔍 What is Really Happening?
Bitcoin has enjoyed extraordinary momentum since early July, driven by a combination of fundamental and technical factors, such as:
✅ Institutional support from spot Bitcoin ETF
✅ Crypto Bills in the US under discussion during "Crypto Week"
✅ Retail & institutional interest continues to grow
However, after breaking $120K and setting a new record, there was massive profit-taking, especially from long-term investors. Data from Glassnode notes that long-term holders realized over $2 billion in profits just in the last two days.
📊 Brief Technical Analysis
✅ RSI (Relative Strength Index) is still in a healthy range (60–65), indicating the market is not overly overbought.
✅ Trading volume shows a decline, indicating that selling pressure is starting to slow down.
✅ Moving Average (EMA 50/100/200) remains below the current price, confirming that the medium-term trend is still bullish.
⚖️ Correction or Reversal?
Many analysts agree that the current decline is a healthy consolidation in an upward trend. Here’s why:
Profit-taking is normal after a sharp rally.
No major technical indicators show a bearish reversal.
The chart structure still shows higher highs and higher lows.
🧠 “As long as BTC remains above $110K, the big trend is still upward. This correction could be an opportunity for long-term investors.” – Analyst from Guardarian.com
🏛 Macro Factors: What to Watch?
Crypto Week in the US
Three major bills are being discussed: Genius Act, Clarity Act, and Anti-CBDC Act. If passed, they could be a positive catalyst for the crypto industry at large.
Global Macro Economic Data
US inflation is slowing, and interest rates remain steady. This provides greater room for investors to take risks in digital assets.
ETF & Miners
Spot BTC ETFs recorded record inflows in the last week. Meanwhile, miners also recorded the highest revenue since 2021.
✅ Conclusion: What Can Investors Do?
Day Trader: Watch price reactions in the $116K–$118K zone to look for a bounce to resistance at $120K.
Long-Term Investors: This correction could be an opportunity for accumulation, especially if the price approaches $112K–$110K.
New Retail: Pay attention to US regulations and short-term volatility. Don't rush into FOMO—gradual strategies are wiser.
✍️ Conclusion
The correction occurring today is part of the natural cycle of a bullish market. No rally goes straight up. For patient and disciplined investors, such declines actually open new opportunities to enter the market.
🚀 “The big trend remains intact. The question is not whether BTC will break $130K, but when.”
