'Don't get trapped!' Bitcoin price analysis sees dip with $118.8K in focus

Key Points

1. Bitcoin's price cooled to around $121,000 after reaching new all-time highs near $123,250, with a weekly gain of over 10%.

2. Analysts warn of a potential 'rug pull' as bid support suggests a possible retest below $119,000, indicating a 2% correction.

3. Order-book liquidity manipulation has been a significant factor in recent short-term BTC price movements.

4. Pro traders remain selective at $120,000, maintaining a long-term bullish outlook but cautious about chasing the current rally.

5. Total BTC short liquidations in the past 24 hours amounted to $432 million, highlighting market volatility.