BTC Price Drops 2.54% as Whale Moves 80,009 BTC and Spot ETFs Hit $40B Weekly Volume

Bitcoin (BTCUSDT) experienced a 2.54% price decrease over the past 24 hours, with the current price at $115,165.63 on Binance, opening at $118,167.14. The decline is attributed to increased market activity following significant on-chain movements, including a whale transferring 80,009 BTC to Galaxy Digital and subsequent exchange deposits, which may have contributed to selling pressure. Additionally, technical indicators have signaled short-term bearish sentiment despite longer-term buy ratings, and recent volatility has been amplified by high trading volumes, with spot Bitcoin ETFs recording $40 billion in weekly trades. Bitcoin maintains a strong market position with a market capitalization of approximately $2.3 trillion and a circulating supply of 19,908,015 BTC, accounting for about 61% of the total crypto market capitalization.