BTC Drops 2.13% Amid $327M Market Liquidation and Macroeconomic Shifts Impacting Crypto Sentiment

Bitcoin (BTCUSDT) experienced a 2.13% price decline over the past 24 hours, with the current price at $104,735.52 on Binance, down from a 24h open of $107,020.02. This drop is primarily attributed to a broad market liquidation event totaling over $327 million, including significant long position liquidations and a notable $2.15 million BTCUSD perpetual contract liquidation. Additional pressure came from net outflows of 17,119.51 BTC from wallets and large holder transfers, alongside macroeconomic factors such as President Trump’s announcement of new tariffs and anticipated U.S. tax cuts, which contributed to increased market volatility. Recent news also highlights that Bitcoin’s price correction followed a period of strong institutional inflows and ETF growth, but short-term sentiment has weakened amid declining trading volume and broader crypto market pullbacks. Despite subdued trading conditions, Bitcoin remains the leading cryptocurrency by market capitalization, with 24-hour trading volume at $43.52 billion and prices ranging between $102,746.01 and $108,478.62.