BTC Surges 2.95% to $108,840 Amid Binance Anniversary Buzz, Institutional Interest, and High Volatility

Bitcoin (BTCUSDT) has risen by 2.95% over the past 24 hours, trading at $108,840.28 on Binance, with the price increase attributed to a combination of technical recovery, renewed upward momentum after a period of consolidation, and ongoing institutional interest. Key factors influencing this movement include positive sentiment from Binance’s 8th anniversary promotions, significant trading activity, and macroeconomic discussions such as U.S. budget and tariff news, which contributed to market volatility. Notably, the largest single liquidation on Binance’s BTCUSDT pair reached $2.62 million, with overall long liquidations outpacing shorts, reflecting a volatile trading environment. Despite some resistance near current levels and the first outflows from Bitcoin ETFs in 15 days, Bitcoin maintains strong year-to-date performance and robust trading volumes, with 24-hour volume on Binance at 1,887.09 million USDT and a circulating supply of approximately 19.89 million BTC.