$BTC at $68,237, are you panicking?

It's fallen. Dropped again.

In the past 24 hours, Bitcoin plummeted from $69,614 to $68,237, a decline of 2.62%. The MACD histogram is negative, with a net outflow of $70k. Miners are moving coins to exchanges, and whales are selling off at a loss.

Are you also thinking: Is this short-term rally over? Should I cut my losses and run?

First, look at the surface: all bad news.

Geopolitical tensions are high, Trump has issued a final ultimatum to Iran, and a Middle East conflict could erupt at any time. The Federal Reserve remains hawkish, with high interest rates expected to stay longer. Mining companies MARA and Riot Platforms are dumping BTC on exchanges, and a whale just sold 300 coins at a loss.

ETF outflows? Yes. Capital withdrawal? Yes. Social media bearish sentiment hitting a 2026 peak? Also yes.

The first thing: institutions are secretly buying.

MicroStrategy, the company that treats Bitcoin as its lifeline, just spent another $329.9 million to buy 4,871 BTC.

The second thing: ETF funds are flowing back.

In March, Bitcoin spot ETF saw a net inflow of $1.32 billion, ending four consecutive months of outflows. In April, it recorded a net inflow of about $69.6 million.

BlackRock, Morgan Stanley, these top global asset managers are turning Bitcoin from a “retail speculative asset” into an “institutional allocation.”

The third thing: on-chain data looks incredibly clean.

Exchange BTC reserves hit a 7-year low. The number of large addresses increased by 0.4% in a week. Whales continue to accumulate. The stablecoin market size is still expanding, with ample off-exchange capital.

On one side: miners panic, whales sell at a loss, geopolitical black swans.

On the other side: institutions are bottom-fishing, ETFs are returning, on-chain supply is tightening.

Key level: $66,800–$67k.

This is the last line of defense for bulls. Over the past few weeks, this range has been tested repeatedly, and each time it held.

If you're a short-term trader:

Buy in stages between $67,000–$67,500, control position size at 30%-50%, set stop-loss at $65,500. First target: $70k–$72,000, and if it breaks $70k, add more to chase up to $74k.

If you're a long-term investor:

Now is the time for dollar-cost averaging. $66k–$67k is one of the most promising entry zones for 2026. Don’t expect to catch the bottom perfectly—that’s something only gods can do. Just know that this level is 30% cheaper than those chasing high at $90k.

In this bull market, the biggest losers are never those who buy at high prices, but those who panic-sell at the bottom and then watch the price rebound.

People say, “Be greedy when others are fearful.” You've heard it 100 times. But how many times have you actually done it? #Gate广场四月发帖挑战 $BTC