The price of Bitcoin (BTCUSDT) decreased by 2.13% over the past 24 hours, reaching $104,735.52 on the Binance platform, down from its opening price of $107,020.02 during the last 24 hours.

This decline is mainly attributed to a widespread market liquidation exceeding $327 million, including a significant liquidation of long-term buy positions and a notable liquidation of a Bitcoin/USD perpetual contract worth $2.15 million.

Additional pressure resulted from net outflows of 17,119.51 Bitcoin from wallets, large transfers by holders, alongside macroeconomic factors such as President Trump's announcement of new tariffs and expectations of U.S. tax cuts, contributing to increased market volatility.

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Recent news also indicates that the correction in Bitcoin's price followed a period of strong institutional inflows and growth in exchange-traded funds, but short-term investor sentiment has weakened amid declining trading volumes and broader cryptocurrency market downturns.

Despite the weak trading conditions, Bitcoin remains the leading cryptocurrency by market capitalization, with a 24-hour trading volume of $43.52 billion, and its prices ranged between $102,746.01 and $108,478.62.