Bitcoin Price Drops 4.1% After Profit-Taking and Consolidation Expected

Bitcoin's price dropped by 4.1% to $77,870 after it peaked at $81,238 due to profit-taking and the liquidation of leveraged long positions.

This pullback is not necessarily a cause for concern, as strong inflows totaling $2.57 billion into US spot Bitcoin ETFs over seven sessions indicate sustained underlying demand.

Analysts expect Bitcoin's price to consolidate between $77,100 and $80,000, with a recovery above $80,000 needed to confirm renewed bullish momentum.