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Bitcoin pulls back as record rally triggers profit taking

  • Bitcoin experienced a 3.2% decline, the largest in over three weeks, reaching $117,386 in trading.
  • Ether and other coins like XRP and Solana also dropped around 1-2% each.
  • The pullback followed Bitcoin's record-breaking surge above $123,000 on optimism surrounding US digital asset legislation.
  • Analysts view the retreat as a standard correction after a period of overheating in the market, with the next key support level for Bitcoin at $114,000.

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