BTC Drops 2.76% Amid $684M Liquidations and ETF Outflows—Stablecoin Moves Shape Market

Bitcoin (BTCUSDT) declined 2.76% over the past 24 hours, with the price falling from 90,192.43 to 87,705.07 USDT on Binance. This price drop was primarily driven by broad market volatility, net outflows from spot Bitcoin ETFs following a period of inflows, and substantial crypto liquidations totaling $684 million. Additional market influences included recent stablecoin-related activity, such as significant USDT and USDC minting to replenish liquidity and a notable burn of 3 billion USDT tokens by Tether Treasury. Despite these fluctuations, Bitcoin maintains its leading position in the market with a current capitalization of approximately $1.78 trillion and a 24-hour Binance trading volume of 20,794.12 BTC (about 1.86 billion USDT). The ongoing institutional interest, regulatory developments, and new initiatives in the stablecoin sector continue to shape the market landscape.