Bitcoin prices fall – Will the $30B buying frenzy hold BTC up?

Key Points

1. Bitcoin accumulator addresses bought 248,000 BTC worth over $30 billion in a single day, marking their largest purchase this year.

2. Investors realized $3.5 billion in profits in the last 24 hours, with long-term holders cashing out $1.96 billion, signaling waning short-term confidence.

3. Technical analysis indicates potential further decline, with key levels at $113,611.01 and $111,073, and heavy liquidation clusters between $114,000 and $117,000.

4. The market shows signs of correction or consolidation, with rising profit-taking pressure risking a slide toward $115,000 or lower.