BTC Price Dips 2.46% After Surging Past $122K Amid ETF Inflows and 401(k) Approval

Bitcoin (BTCUSDT) experienced a 2.46% price decline over the past 24 hours, with the current price at $119,052.01 according to Binance data. The recent price volatility is primarily attributed to renewed institutional interest, including increased inflows into spot Bitcoin ETFs and significant corporate acquisitions, as well as the U.S. executive order permitting cryptocurrencies in 401(k) retirement plans. These developments contributed to a surge past $122,000 before a pullback, which triggered a short squeeze and liquidated many short positions. Bitcoin's market capitalization remains strong at approximately $2.37 trillion, with a 24-hour trading volume exceeding $58.4 billion and a weekly price increase of 3.71%.