Bitcoin Slides to $107,400 as Profit-Taking Follows All-Time High

Market Context

The pullback reflects a natural market consolidation following a sharp rally, not signaling an end to the bull market. Crucially, U.S. indicators like consumer spending, economic growth (Q2 GDP surging 3.3%), rising M2 money supply, and credit creation all underscore an expanding economy—factors that traditionally support risk assets, including Bitcoin.

Technical & Market Details

• Price Correction: BTC has dropped from approximately $124,000 to $107,400, sparking concerns of a trend reversal. 
• Selling Drivers: Reports suggest that firms such as Strategy and Metaplanet have reduced or paused their BTC purchases, easing buying pressure and contributing to the decline.
• Macro Signals: Economic metrics in the U.S. remain robust—consumer spending and GDP growth are accelerating, while M2 growth stands at +4.8% annually, and credit creation is picking up. These dynamics continue to underpin a bullish economic narrative supportive of crypto demand. 

Analyst Perspectives

Analysts caution that this correction is part of a healthy market cycle—where profit-taking moderates overheating. However, they emphasize vigilance: upcoming U.S. non-farm payroll data (NFP) may influence both macro policy expectations and Bitcoin price direction, especially given its potential impact on Fed decisions.

Global Impact Note

While this retracement is a modest global setback, positive U.S. economic indicators reinforce continuing institutional interest in Bitcoin. If macrogrowth persists, investor sentiment could remain resilient—potentially encouraging renewed inflows, especially among global investors seeking macro-linked digital assets.