Bitcoin's price has dropped by 2.7% over the last 24 hours, currently trading around $103,957.84. This decline is attributed to several factors, including¹ ² ³:

- *Waning investor demand*: A reduction in demand for Bitcoin following its recent all-time highs above $111,000.

- *Significant long liquidations*: Over $210 million in long BTC positions were liquidated, contributing to the downward pressure.

- *High outflows from spot Bitcoin ETFs*: A massive $358.65 million outflow was recorded, indicating a shift in interest among institutional investors.

- *Technical weakness*: Indicators like the Relative Strength Index (RSI) signal a reduction in bullish momentum, and the price is testing key support levels.

The market is expected to remain volatile, with traders exercising caution around high leverage and volatility pockets.$BTC