Healthy Pullback?

After hitting a record high of $123K, signs of profit taking has seen BTC fall 5% in the past 24 hours to $116.8K, while ETH, SOL, and XRP are all down by 2–4%.

Daily Updates:

• After a record-breaking rally that took BTC past $123,000, the past 24 hours has shown signs of profit taking at a new ATH, with BTC dropping 5% to $116.8K. Other large-cap altcoins including ETH, SOL and XRP are all down by 2-4% respectively. Despite that pullback in spot prices, both BTC and ETH funding rates remain positive and firmly above neutral levels, suggesting traders are still willing to pay for exposure to upward moves in both tokens.

• BTC Spot ETFs had another strong day of inflows yesterday, extending a run of positive inflows that began on July 2, 2025. Last Thursday and Friday saw spot ETFs buy over $1B worth of bitcoins. While yesterday’s $297.4M was smaller relative to those recent flows, it was over twice the size of the average $140M net flow since the launch of the Spot ETFs in January 2024.