Bitcoin Dips Below $117K Amid Profit-Taking Frenzy – Is the Bull Run Ready to Recharge?

Bitcoin's meteoric rally hits a speed bump as traders cash in gains, dropping the king crypto below $117K. But don't count the bulls out yet—this could be the reload before the next leg up.

Profit-taking or panic selling? The market's breathing heavy after its latest sprint, with whales and retail alike trimming positions. Classic bull market behavior—greed giveth, and greed taketh away.

Liquidity shuffle: On-chain data shows coins moving from diamond hands to weak ones, setting the stage for what could be a textbook 'buy the dip' opportunity. (Cue the institutional investors waiting with armored trucks.)

Macro paradox: While traditional markets obsess over Fed rate cuts like medieval alchemists, Bitcoin's proving again why it's the ultimate escape hatch from fiat madness. The pullback? Just another discount before the halving-fueled supply crunch really bites.

One thing's certain—in crypto, the only thing harder than holding through corrections is explaining to your accountant why you didn't.

As per data on SoSoValue, Bitcoin’s rise was powered by institutional activity, with ETF inflows totaling $52.66B as of July 14, including $5.95 billion total value traded over a 24-hour stretch. 

At the same time, crypto analysts observed that futures open interest is rising, signalling strong demand from large players. They said the current price action may be forming an inverse head and shoulders pattern. If Bitcoin maintains the neckline support at $113,000, it could aim for a breakout toward $128,000 in the next few months. 

Even though bitcoin dropped sharply, experts say it’s just a short break, not a full change in direction. The popular belief is that the price is still on its way up, with strong support from big investors.

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