$61,900 Bitcoin, are you cutting losses?

Strategy sold 32 BTC for the first time, ETF outflows hit 635 million in a single day, price halved from 120k to 60k—yet while everyone is panicking and selling, seasoned on-chain players are quietly accumulating.

First, look at the surface: terrible, really damn terrible.

Down 15% in 7 days, 21% in January, 40% in a year, directly halving from the high of over 120k. This morning, it briefly crashed below 62k, with over $1.1 billion liquidated in 24 hours, leveraged players collectively wiped out.

First thing: Strategy sold 32 BTC, breaking the myth of “institutions never selling.”

MicroStrategy, now called Strategy, sold a small amount of 32 BTC for the first time.

Sounds not much? But this is the “largest corporate holder” selling for the first time.

The market immediately exploded: even the long-term bulls are starting to sell, shouldn’t we run?

Retail panic is always ten times bigger than institutional actions.

Second thing: ETF continues to outflow, but total inflow still reaches 54.7 billion.

In May, the single-day outflow peaked at 635 million, recent total outflows exceeded 1.2 billion (some data says 2.97 billion). Sounds scary?

But look back—since launch, ETF has had a total net inflow of $54.7 billion, holding 688k BTC. This outflow is just institutions “taking profits + avoiding macro risks,” not a full retreat.

Third thing: technicals have entered “bear market structure,” but 60k is the last line of defense.

Daily chart broke below all major moving averages (50/100/200), death cross + bearish alignment, volume increased—this is standard bearish continuation.

Short-term support at the psychological level of $60k. If it doesn’t hold, it could quickly drop to 58k-55k.

Bull-bear showdown, you decide.

One side says:

Strategy’s first sale, breaking the narrative of “institutions only buy, never sell”

ETF continuous large outflows, institutions retreating

CPI exceeds expectations, no rate cuts in sight, hawkish Fed suppressing risk assets

Technical breakdown, all moving averages above pressure

Whales selling over 6,000 BTC, long-term holders reduced positions by 7.69% in a week

The other side says:

ETF cumulative inflow still at 54.7 billion, long-term institutional holdings unchanged

Post-halving supply contraction, fewer BTC on exchanges

60k is both psychological and liquidity support, historically a strong buy zone

Panic index extremely pessimistic, often signals major bottom

The Fed still has rate cut potential in the second half of the year, once turned, BTC’s volatility is greatest

Key level at 61,900, just 1,900 below the critical 60k line.

Resistance above: 64,000 → 66,000 → 70k (only back above 70k can we talk about reversal)

Support below: 60k (psychological level) → 58k → 55k (final line of defense)

Aggressive traders:

Lightly short or buy the dip, stop at 64,000, target 58k-60k. Keep position under 5%, chasing shorts here risks rebounds.

Conservative holders:

Start a phased bottom-fishing plan—allocate 20% near 60k, add another 20% if it breaks below to 55k-58k.

Long-term believers:

Below 60k is a golden pit. DCA blindly, weekly investments, ignore short-term volatility. Target $100k by the end of 2026.

Iron rules of risk:

Never hold a heavy position betting on a rebound

Cash is king in a bear market

Watch next week’s CPI/PPI, if data exceeds expectations and drops, it’s a signal to add positions

BTC now is just like March 2020’s “312”

Back then, BTC dropped 40% in one day, everyone said “Bitcoin is going to zero.” What happened? Six months #分享美股交易赢英伟达股票 later, it surged to 60k.