Bitcoin is hovering near an important level that many long-term investment strategies consider pivotal. From my point of view, the broader market is still under noticeable downside pressure, and recent bounce attempts haven’t shown the kind of strength needed to signal a lasting recovery.
In this environment, even large institutional players are starting to feel the swings in unrealized gains and losses. That alone highlights how fragile the short-term trend remains. One position I keep a close eye on is Michael Saylor’s Strategy holdings, given that it represents one of the largest Bitcoin exposures in the market.
Right now, Bitcoin is trading only around 2.8% above their average entry price, with daily movement of roughly 0.5%. That’s a very narrow cushion. It suggests the market is in a delicate balance—another sharp drop could easily push major positions into negative territory.
Personally, if Bitcoin were to slide another 10% in the near term, I think the psychological stress on large holders would rise sharply. Under those conditions, heightened volatility becomes a real risk, and expecting an immediate rebound may be unrealistic.
At this stage, I don’t think the main question is whether Bitcoin looks “cheap.” The more important issue is whether the market is truly ready to form a bottom. Until stronger confirmation signals appear, I believe caution and disciplined risk management should remain the top priority.