BTC Slides 4.61% Amid $434M Liquidations and Resistance Near $111K Despite ETF Inflows

Bitcoin (BTCUSDT) declined by 4.61% over the past 24 hours, falling from a 24h open of 108,477.86 to a current price of 103,481.01 on Binance. The price drop is primarily attributed to a combination of factors: a sharp market pullback following moderate U.S. CPI data, significant liquidations of leveraged positions—including a $134 million BTC short at 40x leverage and a $300 million BTC long at 20x leverage—and technical resistance near the $110,000–$111,000 zone. Despite ongoing institutional accumulation and an end to net outflows from spot Bitcoin ETFs, trading volumes have cooled and market sentiment shows short-term hesitation as BTC consolidates above key support at $106,000. Market capitalization remains above $2 trillion, but further upside appears limited unless BTC can break above established resistance levels.