Bitcoin Pullback to $118K — Trend Intact, Watch Fed Risk

I see Bitcoin retreating about 4.1% to $118,300 after hitting a record $124,480 yesterday. The pullback looks like short-term profit-taking rather than a clear trend reversal.

Technically, momentum is neutral while the larger bullish trend remains intact, so the structure still favors upside but lacks short-term conviction.

I'm watching Fed policy signals closely — further hawkish surprises could extend volatility and deepen the pullback, while dovish turns would likely resume the rally.