BTC Drops 3.25% After All-Time High; Institutional Moves and ETF Inflows Shape Market Outlook
Bitcoin (BTC/USDT) experienced a 3.25% price decrease over the last 24 hours, with the current price at 116,891.45 USDT on Binance. This pullback follows a recent all-time high above 122,000 USDT and is attributed to profit-taking after the rally, increased volatility around record market capitalization, and anticipation of upcoming economic data releases. Additional contributing factors include heightened institutional activity, such as Standard Chartered launching a spot trading desk for Bitcoin and Ethereum, and significant inflows into U.S. Bitcoin Spot ETFs, which have supported overall market sentiment. Despite the short-term decline, Bitcoin maintains a strong market position with a market cap around $2.33 trillion, a 24-hour trading volume of approximately $146 billion, and a circulating supply of about 19.89 million BTC.