BTC Price Dips 2.66% Amid Resistance, But Institutional Inflows and Record Hashrate Signal Strength

Bitcoin (BTCUSDT) experienced a 2.66% price decline over the past 24 hours, with the current price at 118,973.52 USDT on Binance. The drop is primarily attributed to increased volatility near key resistance levels, as technical analysis indicates repeated rejections around 117,200–119,000 USDT, prompting short-term selling pressure. Despite this, strong institutional interest—including Harvard University's $117 million investment in BlackRock’s Bitcoin ETF and significant inflows into U.S. Spot Bitcoin ETFs—continues to support overall market optimism. The Bitcoin network hashrate reached a record high, and companies now hold 1.85 million BTC in their treasuries, further reducing market supply. Trading activity remains robust, with Binance reporting a 24-hour volume of over 19,833 BTC, reflecting sustained market engagement and liquidity.