BTC (Bitcoin) fell 0.52% in the last 24 hours.

Gate News Bot news, on July 08, according to CoinMarketCap data, as of the time of writing, BTC (Bitcoin) is currently priced at $108,300, down 0.52% in the last 24 hours, with a highest of $110,500 and a lowest of $105,200. The 24-hour volume reached $45.557 billion. The current market capitalization is approximately $2.15 trillion, a decrease of about $11.196 billion compared to yesterday.

Bitcoin is an innovative payment network and a new type of currency. Bitcoin operates on a peer-to-peer technology, requiring no central authority or bank; the management of transactions and the issuance of Bitcoins is carried out collectively by the network. Bitcoin is open source; its design is public, and no one owns or controls Bitcoin, allowing everyone to participate. Through its many unique properties, Bitcoin enables exciting uses that no previous payment system could cover.

Important news about BTC recently:

1️⃣ Demand for spot Bitcoin ETFs in the United States remains strong In the past week, 10 U.S. Bitcoin ETF products saw a net inflow of 3,199 BTC, approximately $346 million. Among them, the Fidelity Bitcoin ETF performed the best, with a net inflow of 2,159 BTC, bringing the total holdings to 203,509 BTC, worth about $21.99 billion. The continued preference of institutional investors for Bitcoin demonstrates that market confidence remains strong.

2️⃣ Large holders transfer a large amount of BTC to exchanges A Bitcoin whale that has held 1,200 BTC for 14 years transferred 1,200 BTC to a centralized exchange in the past 7 hours, worth approximately $131 million. Previously, this address had deposited 1,550 BTC to the exchange. This series of actions has raised market concerns about potential selling pressure, which may impact short-term price movements.

3️⃣ Multiple states in the US advance Bitcoin-related legislation Since the beginning of this year, 14 states in the United States have passed 26 bills related to Bitcoin. This trend indicates that the status of Bitcoin within the U.S. legal framework is gradually becoming clearer and more consolidated, which helps enhance its long-term compliance and sustainability.

From a technical perspective, the Bitcoin price is currently fluctuating and consolidating above the $100,000 mark. The short-term support level is around $105,104, and a breakout above $111,000 will open up a new round of upward momentum. However, the strengthening dominance of the derivatives market may increase price volatility, and investors should be cautious of potential false breakout risks.

This message does not constitute investment advice, and investors should be aware of market volatility risks.