Bitcoin Enters Correction Phase Amid $111K-$115K Pullback

Bitcoin is currently undergoing a correction phase after reaching record highs above $120,000, with prices retreating to the $110,000–$115,000 range. Analysts note that this pullback is a normal part of the market cycle, characterized by consolidation and healthy resets rather than signaling an end to the rally. Data indicates that large holders (whales) are moving Bitcoin to exchanges, suggesting anticipation of selling pressure or position reallocation. Support levels between $110,000 and $100,000, especially around $107,000, are considered critical floors that could sustain the long-term bullish trend if maintained. Market experts, including Michaël van de Poppe, view August as a potential stabilization month before Bitcoin and altcoins resume upward momentum, with accumulation opportunities during the dip. Overall, despite short-term bearish signals and profit-taking, the broader trend remains bullish as investors prepare for a possible renewed rally toward new all-time highs.