🚨 $BTC falls more than 2.8%, is a correction approaching or is it just a technical breather?
Current price and clear technical structure
Bitcoin is at $112,667, after fluctuating between $112,647 and $116,029. The price has corrected from recent highs (around $123K), returning to the initial upward channel and seeking support in the $112K area.
Key factors
Sustained selling by short-term holders: more than 20,000 BTC have been moved to exchanges at a loss in recent days, putting pressure on the price towards $110K.
Strong overall institutional demand: around $3.4B entered ETFs during July, with $2.2B in just two days, indicating an ongoing appetite for safe-haven assets.
Favorable macro factors: high liquidity from central banks and expectations of lower inflation continue to support Bitcoin's long-term rally.
Technical level of the day
Key support: $112K–$113K (current buyer pressure zone)
Immediate resistance: $116K–$117K
Critical zone: staying above $112K would allow for a possible recovery towards $116K, while a break could open the way towards $110K.
Institutional outlook / macro view
The long-term momentum remains intact thanks to continuous flows into ETFs and strong institutional backing. Although a technical correction is occurring, the expansive monetary policy and legislative commitments, such as the GENIUS Act, keep the environment favorable for Bitcoin.
Do you think this pullback is a buying opportunity or a warning of deeper consolidation? Comment below 👇
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