BTC Slides 2% After Near-Record High: Technical Signals Point to Short-Term Volatility

Bitcoin (BTCUSDT) experienced a 2.05% price decline over the past 24 hours, dropping from a 24h open of $104,908.78 to a current price of $102,756.84 on Binance. This pullback is primarily attributed to profit-taking by traders after Bitcoin recently approached an all-time high near $112,000, with additional downward pressure reflected in technical indicators such as a bearish MACD crossover and a test of the lower Bollinger Band. Despite recent net inflows into U.S. spot Bitcoin ETFs and positive developments such as the dismissal of the SEC’s civil lawsuit against Binance and its founder, overall market sentiment has turned cautious, with increased trading volume and a slight contraction in market capitalization. Bitcoin remains the leading cryptocurrency by market cap, but current technical signals and risk-off sentiment suggest continued short-term volatility as the market consolidates after its recent rally.