BTC Slides 2.87% After Reaching $120K as ETF Inflows Slow and Altcoin Interest Rises

Bitcoin (BTCUSDT) is currently trading at $116,474.62 on Binance, reflecting a 2.87% decrease over the past 24 hours. The recent price decline follows a period of heightened volatility near all-time highs, with the asset reaching as high as $120,447.00 in the same period. The price movement is largely attributed to a combination of substantial capital inflows into spot Bitcoin ETFs, which previously drove the price to new highs above $123,000, and subsequent market consolidation as some investors take profits and altcoins attract increased attention. Reports indicate that Bitcoin's dominance has slightly decreased as capital rotates into alternative cryptocurrencies, while institutional interest remains strong, evidenced by continued ETF activity and the establishment of a U.S. Strategic Bitcoin Reserve. Over the last 24 hours, Bitcoin's trading volume on major exchanges ranged from 9,580 BTC to nearly 30,000 BTC, with a total market capitalization of approximately $2.35 trillion and a circulating supply of 19,892,471 BTC. Overall, the market is experiencing a consolidation phase after a significant rally, with key support levels being monitored around the $118,000 to $119,000 range.