BTC Slides 2.29% Amid $1.1B Liquidations, Yet Institutional Demand and Options Activity Signal Resilience

Bitcoin (BTCUSDT) experienced a 2.29% decline over the last 24 hours, with the current price at 104,422.36 USDT on Binance, down from a 24h open of 106,873.89 USDT. The price drop is largely attributed to recent market volatility, including over $1.1 billion in long liquidations across crypto markets since June 13, with Bitcoin accounting for over 40% of that amount. This volatility was accompanied by a brief dip below 104,000 USDT before a partial rebound. Despite this, market sentiment remains optimistic, as evidenced by record-high options open interest and strong call option activity targeting higher price levels. Institutional developments, such as Metaplanet increasing its Bitcoin holdings to 10,000 BTC and JPMorgan’s trademark filing for a crypto platform, indicate continued interest from major players. Trading volume surged by nearly 25% in the past 24 hours, reflecting heightened activity and liquidity. Bitcoin’s market capitalization remains above $2 trillion, with circulating supply nearing 20 million BTC, underscoring its dominant position and ongoing investor engagement.