Bitcoin Pulls Back from All-Time High as Market Sentiment Shifts

Bitcoin's price surge has led to a minor pullback in recent days. The cryptocurrency reached an all-time high of $81,455 last week but stabilized around the $77,000-$78,000 region after a rejection from that level.

The token briefly traded above $79,154 on Monday morning but trimmed some gains, settling at just over $77,605, a 0.71% decline in the past 24 hours.

Strong inflows into Bitcoin ETFs have contributed to the market's momentum, with nearly $6 billion entering the market last week and $1.12 billion in net inflows recorded for US spot Bitcoin ETFs alone.

Nischal Shetty, Founder of WazirX, noted that institutional demand remains strong despite some volatility, while Harish Vatnani, Head of Trade at ZebPay, pointed to improving liquidity expectations and short covering as key drivers of the rally.