Bitcoin's price has fallen below $117,000 after reaching a historic high of $123,000, marking a significant profit-taking event with $3.5 billion realized in profits.
Bitcoin's price has fallen below $117,000 after reaching a historic high of $123,000, driven by profit-taking among long-term holders. In the last 24 hours, $3.5 billion in profits were realized, contributing to the market's volatility due to limited supply in the $110,000 to $116,000 range, which may cause sharp price fluctuations.