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AS A SPECIALIST OF $BTC

The market is in a technical tug-of-war. On one side, the government and politics are holding the game; on the other, financial institutions are taking positions.

The Reason for the Drop: Bitcoin fell to around $87,000 because the U.S. Senate blocked a law that would facilitate the custody of cryptos by banks. This scared institutional investors, resulting in a withdrawal of $600 million from ETFs (BlackRock and Fidelity) in the last 24 hours.

Who is Supporting the Price: Institutions like Metaplanet and the Norwegian Sovereign Fund are buying this dip. They are not concerned about short-term politics; they are focused on the scarcity of the asset.

The Sentiment: The "Fear and Greed" index is at 16 (Extreme Fear). Historically, when everyone is in this level of panic and major institutions are buying, the price tends to be near a bottom.

In three sentences:

The panic is political: The delay in American laws is what is driving the price down right now.

The support is institutional: The large funds are not selling everything; they are just "cleaning up" those who are leveraged.

The Trigger: Everything depends on the inflation data coming out tomorrow; if it is good, BTC could bounce back to $90k in a snap.

In reality: The moment is about "seeing who blinks first". Retail is selling in desperation while the big players are wide-eyed waiting for the coins to drop.