Bitcoin dropped to around $115,000, extending last week’s retreat from record highs as profit-taking and fading expectations for US rate cuts weighed on sentiment. Stronger-than-expected US producer inflation and retail sales reduced the likelihood of aggressive Federal Reserve easing, pressuring risk assets. Additional headwinds came from US Treasury remarks on strategic reserves, which stoked concerns over tighter liquidity, while leadership changes in key financial market bodies added to policy uncertainty and risk aversion. The decline also underscored a broader rotation toward alternative cryptocurrencies, with Bitcoin’s market dominance slipping to 59.4%, its lowest since 2020 and below the long-held 60% threshold. Still, Bitcoin remains underpinned by institutional inflows and favorable regulatory signals, including its inclusion in US retirement portfolios, which continue to bolster its mainstream legitimacy.
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