"Should Have Bought Earlier" Bitcoin, Pauses After Surpassing $118,000

[Financial News] Bitcoin, the leading cryptocurrency that had set a new all-time high with a steep rise, paused on the afternoon of the 11th (local time).
According to the US cryptocurrency exchange Coinbase, at 7:33 PM Eastern Time (4:33 PM Pacific Time) on that day, the price of one Bitcoin was traded at $117,584.
This is a 1.56% increase from 24 hours earlier, but slightly down compared to the peak of $119,000.
Bitcoin first surpassed the $112,000 mark on the 9th, breaking the previous record set on May 22, and accelerated its upward trend the previous day.
On the morning of that day, it rose to the $118,800 range, approaching the $119,000 range. Afterward, it was blocked by strong selling pressure and is trading in the $117,000 range.
Earlier, French Hill, Chairman of the US House Financial Services Committee, announced the previous day that next week will be 'Crypto Week' in the US House, where the 'Cryptocurrency 3 Laws' will be discussed. As a result, optimism about the cryptocurrency market has grown.
The US House will handle three cryptocurrency bills next week, including the Genius (GENIUS) bill, a stablecoin regulation bill, and the market expects that if the bills pass, the pro-cryptocurrency policy of the Donald Trump administration will gain momentum.
However, due to a surge of over 7% in two days, a large amount of selling aimed at profit-taking has poured in, showing a pause in the market.
According to the virtual asset market analysis platform Sosovalue, $1.18 billion flowed into the Bitcoin Exchange Traded Fund (ETF) in one day on the 10th. This is the largest amount this year.
At the same time, the price of Ethereum, the second-largest by market capitalization, which had reclaimed the $3,000 mark, was $2,954, and XRP (Ripple), which had approached $3, was traded at $2.72.
Solana and Dogecoin were traded at $162 and $0.20, respectively, up 0.84% and 4.10% from 24 hours earlier.

going@fnnews.com Choi Ga-young Reporter