In summary:

Bitcoin is currently undergoing a healthy corrective phase, with occasional profitable sales, but we are also seeing signs of position reconstitution by major investors. The coming hours, or even days, will be crucial, especially depending on the Fed's speech at Jackson Hole. In the case of an accommodative tone, a recovery or stabilization above 114,000 USD is plausible; conversely, a hawkish tone could exacerbate the downturn. The market-following strategy (trading or investing) will need to be agile — with attention on key levels of 110–114 K USD.