Bitcoin has cooled off after its explosive run past $114,000, with the latest pullback hinting at profit-taking and a temporary pause in buying pressure. Market participants appear cautious as liquidity thins out, leaving price action vulnerable to short-term swings. For the week ahead, a bullish scenario could drive BTC price toward the $118,500–$120,000 range, while a bearish turn may drag it back toward $110,000. The key question remains: will momentum favour another breakout or a deeper correction?
Why is the Bitcoin Price Plunging?
Bitcoin failed to sustain above $115,000, triggering a swift rejection that dragged the price back toward $114,000. The move represents a 3% intraday slide and comes as traders locked in profits near the milestone level. Exchange inflows of over $420 million in BTC within 24 hours highlight increased selling intent, while spot trading volumes dropped 18%, thinning liquidity. This combination of heavy profit-taking and cooling demand has intensified the pullback, putting short-term pressure on BTC’s momentum.
Over the last 24 hours, spot Bitcoin ETFs have registered net outflows of roughly $103.8 million, with Fidelity’s FBTC alone shedding $75.6 million, while ARK’s ARKB saw $27.9 million in withdrawals. Smaller inflows from IBIT (+$2.5M) and BTCO (+$10M) weren’t enough to offset the selling pressure. This reversal highlights weakening institutional appetite just as leveraged long positions continue to unwind. Without strong ETF inflows to absorb supply, Bitcoin’s price action is increasingly fragile—failure to hold key support levels could open the door to a deeper correction, while renewed demand would be needed to restore bullish momentum.
What’s Next for the BTC Price Rally?
Bitcoin price surged above the crucial resistance at $113,400 and marked an intraday high just above $114,000. Woefully, the bears began to book profits, causing the price to plunge below $113,000. While the technicals were pointing towards a bullish continuation, the current bearish action may hinder the progress of the rally.
Bitcoin is trading near $113,300, facing rejection from the descending trendline while struggling below resistance at $114,800. The CMF (0.08) shows modest capital inflows, but momentum remains weak. RSI sits at 50.4, signalling neutrality after a recent rebound from oversold zones. Price action suggests consolidation between $118,600 resistance and $107,200 support. A breakout above $114,800 could trigger a move toward $118,600, while failure to hold $113,000 risks a deeper correction toward $110,000–$107,200. Overall, the Bitcoin (BTC) price remains range-bound with cautious sentiment.
On the other hand, the Bitcoin (BTC) price has been maintaining a descending trend, forming consecutive lower highs and lows. Once it breaks above the falling resistance, the token may begin with a fresh bullish spell to $122,000 or higher.
