BTC Pulls Back 2.65% After Record High as Tariffs and Bond Auction Shake Markets

Bitcoin is currently trading at $108,790.43 on Binance, reflecting a 2.65% decline over the past 24 hours after opening at $111,750.46, with the broader market showing high volatility and a market capitalization near $2.15 trillion. The recent price drop follows a new all-time high above $111,900, with the correction attributed to renewed global trade tensions, specifically new tariffs announced by former President Trump, and a weak U.S. bond auction that impacted risk assets. Despite the pullback, institutional adoption, favorable regulatory developments such as the creation of a U.S. Strategic Bitcoin Reserve, and record-high futures open interest above $80 billion continue to support positive long-term sentiment, while over $100 million in BTC short positions remain open above the $115,000 level.