$BTC Bitcoin (BTC/USDT) is currently trading around $112,425, showing a -1.8% decline in the past 24 hours. The short-term chart indicates a sharp pullback after failing to sustain above the $124,474 resistance zone. On the daily timeframe, BTC recently formed a local bottom near $111,920, which now acts as a key support level.

The 24-hour range between $112,015 – $114,821 suggests limited volatility compared to recent spikes, but the downward momentum remains strong. The Moving Average (MA60) around $112,571 is being tested, showing that BTC is struggling to maintain above its medium-term support line. If it closes below this level, further downside pressure is likely.

From a broader perspective, Bitcoin has gained 85% over the past year, but short-term corrections are evident. The failure to hold above $120,000 triggered profit-taking and bearish sentiment. Indicators like MACD and RSI suggest weakening momentum, while trading volume spikes hint at increased selling activity.

🔮 Prediction:

• If BTC holds above $112,000, we may see a short-term bounce back toward $115,000–$118,000.

• If it breaks below $112,000, the next support lies near $110,000–$108,500.

• The medium-term outlook remains bullish as long as BTC stays above $111,000, but short-term volatility could drive prices lower before recovery.