BTC Price Dips 3.24% After All-Time High, Institutional Demand and ETF Inflows Sustain Strength

Bitcoin (BTCUSDT) experienced a 3.24% price decline over the past 24 hours, with the current price at 117,723.32 USDT on Binance. The recent pullback follows a surge to a new all-time high, driven by expectations of a potential US Federal Reserve interest rate cut and increased institutional and corporate demand, including notable additions to reserves by public companies and net inflows into Bitcoin ETFs. Additional market activity was influenced by developments such as Solv Protocol’s partnership with Binance for Bitcoin yield management and Google’s option for an 8% stake in TeraWulf, a Bitcoin mining company. Despite the short-term correction, Bitcoin maintains a strong market position with a 24-hour trading volume exceeding $75 billion and a market capitalization around $2.35 trillion, reflecting continued dominance in the cryptocurrency sector.