BTC Drops 3.8% After All-Time High, Driven by Profit-Taking and $1.18B ETF Inflows

Bitcoin (BTC/USDT) experienced a notable price correction in the last 24 hours, declining by 3.80% on Binance to a current price of $117,200. This pullback follows a recent all-time high above $123,000 and is primarily attributed to profit-taking by traders after the surge, as well as market caution ahead of a key U.S. inflation report. Additional contributing factors include heightened institutional inflows into Bitcoin ETFs, with $1.18 billion added in a single day, and continued optimism from significant purchases by companies such as MicroStrategy. Despite the price dip, trading activity remains elevated, with a 24-hour volume of approximately $3.24 billion and a circulating supply of 19.89 million BTC, underscoring strong market engagement and Bitcoin’s leading position by market capitalization.