Overview

• Price briefly fell to about $119,700 after highs near $126,000 earlier this week, then stabilized around $120,000–$123,000, according to Coinbase data reported by Forbes.
• U.S. spot bitcoin ETFs booked multiple consecutive days of net inflows this week, totaling roughly $2.7 billion, with analysts noting IBIT is on track to cross $100 billion in assets.
• On‑chain data show long‑term holders sold about 295,000 BTC over the past 30 days, a notable distribution that analysts say is being met by institutional and ETF buying.
• Derivatives markets saw sharp stress during the pullback, with more than $600 million in leveraged positions liquidated in 24 hours and open interest still elevated, CoinGlass data show.
• Cross‑asset moves added to volatility as silver briefly touched $50 for the first time and gold traded above $4,000, while a U.S. government shutdown and a firmer dollar weighed on risk appetite.