Bitcoin’s price is bouncing around between $63,300 and $63,800, trying to find its footing after a pretty rough drop. In the past day, crypto traders saw a massive $604 million wiped out in liquidations, with $461 million coming from shorts and $142 million from longs.

When you zoom out, a split is showing up: institutions are selling, but seasoned holders aren’t panicking. US spot Bitcoin ETFs just logged $1.72 billion in net outflows last week—the biggest since early 2025. Most of that cash came from BlackRock’s flagship fund, pushing $1.34 billion back out; strong US jobs numbers are making people rethink how soon the Fed will ease rates. Still, MicroStrategy (now just called “Strategy”) isn’t slowing down. They’ve raised $7.5 billion and scooped up nearly 100,000 BTC this year, bumping their total stash to over 845,000 coins.

Analysts say there's room for optimism. Even though BTC is about 50% down from its peak, Bernstein holds firm on their target for $150,000 this year. They see the quieter retail action as a sign the market’s maturing, with institutions taking a bigger role. Plus, the daily and 2-week RSI readings are at historic lows—levels last seen during the March 2020 crash. For many, that’s flashing a good opportunity for long-term buyers to step in.

On the chain, the action looks dramatic. Newer whales—those who’ve held less than five months—just took a $1.77 billion hit, cutting losses and giving the market a whiff of panic selling. Meanwhile, the veterans are piling in: wallets holding between 1,000 and 10,000 BTC grabbed 53,000 coins over the past two months. Looks like they’re betting the worst is behind us.

BitcoinEndsSevenDayLossStreakAbove$63K

Still, there’s stuff to worry about. The strong US jobs data means the Fed probably won’t cut rates soon, and that’s not great for riskier assets like crypto. If Bitcoin keeps sliding, on-chain trends point to a big support zone somewhere between $52,000 and $59,000. The average cost basis—called “Realized Price”—sits at $53,630.