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Price Action: Bitcoin recently slipped below the $71,000 mark, hitting its lowest levels since late 2024.
The Catalyst: Much of this "flush" is being attributed to a shift in macro expectations (specifically following the nomination of Kevin Warsh for the Fed) and a rotation out of high-beta assets.
Total Drawdown: From the 2025 peak near $126,000, BTC has surrendered roughly 40-45% of its value.
Critical Levels to Watch
The "line in the sand" has shifted slightly lower over the last 48 hours:The "Whale" Perspective
You mentioned smart money, and the data backs you up. Despite the price drop, MicroStrategy (MSTR) and other institutional holders remain under the microscope. Interestingly, while the "weak hands" are exiting, on-chain data shows a surge in new wallet addresses, suggesting that while some are fleeing, a new batch of long-term holders is viewing the $70k zone as a generational entry point.