BTC Drops 3.47% After Resistance Rejection; US Policy and ETF Activity Shape Market Moves

Bitcoin (BTCUSDT) experienced a 3.47% price decrease over the past 24 hours, with the current price at $103,206.34 on Binance. The decline is primarily attributed to a rejection at the $107,000–$108,000 resistance level, leading to bearish sentiment and increased selling pressure, as indicated by technical signals such as a MACD bearish crossover and price movement near the lower Bollinger Band. Additional factors influencing the market include ongoing government policy developments in the US, institutional activity in Bitcoin ETFs, and continued selling from long-term holders, partially offset by purchases from entities like MicroStrategy. Trading volume remains robust, and Bitcoin’s market cap is approximately $2.056 trillion, with the asset consolidating near key support levels following recent volatility.