Bitcoin's market cap surpasses $2.4 trillion, but rising exchange inflows signal potential short-term corrections as profit-taking begins.
Bitcoin (BTC) reached an all-time high of $123,218, pushing its market cap beyond $2.4 trillion. However, a sharp increase in BTC inflows to exchanges raises concerns of a potential short-term correction. Analysts note this pattern often indicates profit-taking behavior from short-term holders. Despite these signs, long-term holders remain firm, and institutional interest continues, with Bitcoin ETFs drawing $2.72 billion in net inflows last week. Current trading shows BTC at $119,449, reflecting a 0.8% increase in the past 24 hours.