Bitcoin price drops by 1.24% in 24 hours, reflecting technical failures, a slowdown in institutional demand, and geopolitical uncertainty.
Technical Analysis - Failed to maintain the level of $104,073, resulting in the liquidation of long positions exceeding $1 billion.
Temporary halt in institutional trading - Assets under management for spot Bitcoin exchange-traded funds dropped to $131 billion, indicating profit-taking.
Retail capitulation - Sale of 15,000 Bitcoins at a loss as the fear and greed index fell to 43 (neutral).
