BTC Holds Above $2 Trillion Market Cap Amid 2% Dip After Major Institutional Buying Surge

Bitcoin (BTCUSDT) is currently trading at $104,727.37 on Binance, reflecting a 2.01% decline over the past 24 hours from an opening price of $106,871.66. The recent price dip is primarily attributed to profit-taking following a strong rally earlier in the week, which was fueled by significant institutional activity such as Metaplanet’s acquisition of 1,112 BTC and BlackRock’s IBIT ETF purchasing over 10,000 BTC, both outpacing the amount of new BTC mined. Additional positive sentiment stemmed from JPMorgan’s trademark filing for its crypto platform and anticipation around new ETF launches, but these bullish developments have been tempered by broader market volatility, macroeconomic uncertainty, and ongoing geopolitical tensions, leading to increased trading volume and short-term price fluctuations. Despite the slight pullback, Bitcoin’s market capitalization remains above $2 trillion, and trading activity is elevated, indicating continued strong investor interest near historical price highs.