I saw that traders are mass withdrawing Bitcoin to exchanges after that peak for $74k in the middle of the week. According to on-chain data, more than 27,000 BTC have been moved to exchanges with profit in the last 24 hours — one of the highest peaks in recent months. Basically, those who bought around $68k are realizing gains now that the price is at $73.87k.

What triggered this wave of profit-taking was precisely that breakout to $74k, but the move also sparked caution among short-term traders, especially with the geopolitical situation heating up. The subsequent drop shows that not everyone is convinced that the rally will continue.

But the institutional side remains strong. Bitcoin ETFs received over $700 million in investments this week, and many are betting on the approval of the Clarity Act by the end of the year. It seems that big players see solid fundamentals here, even with this profit-taking by smaller traders. Bitcoin is being viewed as a hedge against macroeconomic uncertainty, like a "digital gold," and this continues to drive institutional capital inflows.