BTC Price Drops 2.64% Amid Exchange Outflows, Blackrock ETF Accumulation Signals Strong Institutional Interest

Bitcoin (BTCUSDT) experienced a 2.64% price decline over the past 24 hours, with the current Binance price at $110,090.01, opening at $113,071.44. The price drop is primarily attributed to increased selling pressure following a transfer of 250 BTC from an early holder to an exchange, ongoing market volatility, and net outflows of 1,435.75 BTC from centralized exchanges. Despite this, institutional accumulation remains strong, highlighted by Blackrock’s ETF adding over 160,000 BTC and El Salvador’s holdings surpassing 6,270 coins. Trading volume remains high, with Binance reporting $56.86 billion in the last 24 hours, and Bitcoin’s market capitalization is robust at approximately $2.22 trillion, maintaining its dominance at 56.19%. The asset is consolidating near $110,000, with buyers defending key support levels and analysts monitoring for a potential rebound.