Bitcoin Falls to US$116,000 After Traders Take Profit Actions

Bitcoin fell to US$116,000 after briefly hitting a new all-time high of US$123,000 on Monday (14/07). The digital gold dropped 4.33% in the last 24 hours as traders began to take profits.
The Bitcoin whale wallet (BTC) that has been active since 2010 became active again on Monday (14/07), moving 20,000 BTC worth US$2.42 billion when Bitcoin broke through US$123,000. This is suspected to be the main trigger for the price correction of Bitcoin today.
Another Satoshi-era wallet also sold about 9,000 BTC worth approximately US$1.06 billion on Tuesday (. This wallet, which has been inactive for years, holds a total of 80,000 BTC and is owned by one of the early Bitcoin users, likely from around 2010-2011.
At almost the same time, another large transfer of 18,643 BTC ) amounting to approximately US$2 billion ( occurred to Galaxy Digital, which is suspected to be part of a profit realization strategy.
Both of these large movements occurred right after Bitcoin failed to break through the all-time high )ATH( at US$123,000 on July 14. This caused many short-term traders to panic and accelerated selling pressure in the market.