BTC Drops 2.56% Despite U.S. Regulatory Progress and Major Institutional Accumulation Signals

Bitcoin (BTCUSDT) experienced a 2.56% decline over the past 24 hours, with the price dropping from a 24-hour open of $120,914.32 to $117,821.67 on Binance. This price movement occurred despite several positive developments, including the passage of the CLARITY Act and GENIUS Act by the U.S. House of Representatives, which are expected to provide regulatory clarity for digital assets and stablecoins, and reports that the U.S. retirement market may soon gain access to cryptocurrencies. Additional bullish signals included increased institutional interest, such as Semler Scientific and Convano expanding their Bitcoin holdings, and a significant transfer of 40,192 BTC to Galaxy Digital. However, the market also saw a net outflow of over 10,000 BTC from centralized exchanges, which some investors interpret as a sign of long-term holding. Despite these favorable factors, Bitcoin faced short-term volatility, with trading volume remaining high and the price fluctuating between $116,812 and $120,998 in the last 24 hours. Bitcoin’s market capitalization is stable above $2.34 trillion, with a circulating supply of approximately 19.89 million BTC.