BTC Price Drops 4.15% Amid $400M Short Liquidations and Surging Trading Volume on Binance

BTCUSDT experienced a 4.15% price decrease over the past 24 hours, with the current Binance price at $118,405.13. The decline is primarily attributed to heightened market volatility around key technical levels, including rejection near the $124,000–$125,000 resistance zone and increased short liquidations totaling over $400 million. Additional factors influencing price movement include the transfer of a significant amount of dormant Bitcoin, ongoing institutional accumulation, and elevated trading activity with a 24-hour volume of approximately 8.20K BTC. Bitcoin’s market capitalization stands at $2.35 trillion, with a circulating supply of about 19.9 million BTC, and the asset continues to trade within a broad range, reflecting both bearish and bullish sentiment among market participants.