وصلت البيتكوين إلى $107K لكن الحفلة تتوقف هنا—ما الذي يحدث حقًا؟

Here’s the plot twist nobody expected: Bitcoin just touched $107K, setting a fresh all-time high, yet the broader crypto market decided to take a nap. Altcoins are bleeding 3-7%, and even the big names like Ethereum and Solana are in the red. Sounds paradoxical? Let’s break down why the king’s coronation didn’t trigger a full market celebration.

The Money’s Already Gone

When BTC broke $107K, smart money saw the exit sign. Profit-taking kicked in hard—traders who’ve been holding since lower levels cashed out, triggering a sharp pullback that dragged BTC down to around $103K. This cascading selloff is textbook market behavior after a powerful run-up. Short-term: consolidation and weakness. Long-term: probably just noise.

The Fed’s Inflation Shadow

Investor attention is split between celebrating Bitcoin’s milestone and sweating over upcoming U.S. inflation data. If inflation numbers come in hot, the Fed might pause rate cuts or even hike again—and that’s the opposite of what risk assets need right now. The uncertainty has frozen a lot of capital on the sidelines, waiting for clarity before making the next move.

Institutional Demand Just Evaporated

Here’s where it gets interesting: Spot Bitcoin ETF inflows collapsed. May 9 saw $334.58M flowing in; by May 12, that plummeted to just $5.1M. Translation? The institutional bid that’s been fueling this rally has gone quiet. When mega-investors stop buying, support dries up fast, and that’s exactly what we’re seeing.

Trust Issues in the Ecosystem

Coinbase took a heavy hit after disclosing a data breach involving compromised customer support agents. The fallout? Estimated between $180-400 million. When a major exchange gets hacked, it sends ripples through the entire ecosystem—investors get spooked, and risk appetite takes a nosedive.

Regulatory Pressure Adds Friction

Authorities shut down Haowang Guarantee, one of Asia’s biggest underground markets. While cracking down on illicit activity is necessary, it also disrupts crypto flows and creates short-term volatility as the market recalibrates.

The Scorecard Right Now

BTC: $103,043 (off the $107K high) Range today: $106,540 to $103,043
Alts: ETH, BNB, SOL all down 3-7%

Bottom Line

Bitcoin’s new ATH is a bullish signal for the medium term, but the current pullback is a reminder that markets are still wrestling with macro headwinds, reduced institutional buying, and ecosystem concerns. Expect continued chop until we get more clarity on Fed policy and inflation. The fundamentals haven’t changed—just the short-term sentiment.