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--Haussier
BTC 69K psychological barrier game, can it bottom out?
$BTC After touching 74K, it pulled back to around $69,300, starting an 'extreme tug-of-war'. Is it a reverse pickup, or a prelude to a crash? Combined with on-chain and institutional dynamics, the 4-hour breakdown is as follows:
1. Institutional trends: Big players are 'making a show of diligence'
MicroStrategy strikes again: Additional $1.3 billion purchase in March, the cost price increase shows institutional desire for chips below 70K.
ETF support level: IBIT's spot ETF holdings have broken through $1,300 billion. Although there is short-term outflow pressure, the long-term locked chips are solid, forming a structural 'floor price'.
2. On-chain data: Chip exchange in extreme fear
1. Institutional trends: Big players are 'making a show of diligence'
MicroStrategy strikes again: Additional $1.3 billion purchase in March, the cost price increase shows institutional desire for chips below 70K.
ETF support level: IBIT's spot ETF holdings have broken through $1,300 billion. Although there is short-term outflow pressure, the long-term locked chips are solid, forming a structural 'floor price'.
2. On-chain data: Chip exchange in extreme fear
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