Bitcoin BTC dipped below $120,000 after nearing $123,000, but analysts say market top calls are premature. Ethereum ETH fell below $3,000, while altcoins like DOGE, ADA, and XLM declined. XRP, SUI, and UNI outperformed with gains. Crypto stocks like MSTR and GLXY retraced gains, while COIN rose.

BTC surged over 10% in a week, leading to consolidation as traders take profits. CIO Jeff Dorman believes the rally is in early stages. Volumes on exchanges rose 23% week-over-week, but still below levels from past rallies. BTC’s rise is driven by sovereign debt and inflation fears.

CEO Eric Demuth sees BTC potentially hitting €200,000 ($233,000), emphasizing adoption over price targets. He envisions BTC’s market cap converging with gold’s $22 trillion. Bitcoin is gaining traction among major investors, sovereign states, and global banks.

Read more at Yahoo Finance: Bitcoin Market Top Is ‘Nowhere Near,’ Say Analysts as Price Pauses at $120K