Bitwise CEO: Bitcoin dip below $70k open new institutional buying window
Bitwise CEO Hunter Horsley talk say as Bitcoin drop below $70,000 na new opportunity for institutional buying even as long-term holders dey face uncertainty. Horsley describe market say e dey go through bitcoin-led selloff together with other liquid macro assets; BTC don fall about 22.6% over 30 days to around $69.6k. Despite the weakness, institutional demand still strong: Bitwise (wey dey manage >$15bn AUM) record more than $100m inflows when BTC dey trade near $77k earlier dis week. Spot Bitcoin ETF flows dey continue to affect markets — BlackRock spot BTC ETF see $231.6m inflows on Friday after recent outflows. Other market signals include RSI near oversold (~34.5), higher whale activity (report say 5,000 BTC deposit go Binance), and rising retail interest (Google Trends peak for “Bitcoin” in week of Feb 1). Key technical levels mentioned: supports near $62,910 and $70,580; resistances near $72,115 and $75,469. Traders should view this as liquidity-driven dip with institutional flows likely to persist amid improving regulatory clarity — short-term volatile environment wey fit give tactical buy entries for institutions and traders but still carry downside risk for long-term holders.
Neutral
Di news get neutral for BTC price direction because e dey combine both bearish and bullish forces. Bearish signs: about 22.6% drop for 30 days, RSI near oversold, and macro-driven selloffs dey raise short-term downside and volatility. Bullish signs: steady and big institutional inflows (Bitwise >$100m week; BlackRock spot ETF $231.6m inflow), rising retail interest, and better regulatory clarity wey dey support long-term adoption. For traders, this mean higher short-term volatility with opportunistic buy-the-dip setups weh institutional demand dey drive. Short-term traders fit capitalize on rebounds around the support levels wey dem mention ($70.6k, $62.9k) and make dem watch ETF flows and whale movements for trade triggers. Long-term holders and risk-averse traders make dem cautious until dem see sustained recovery above resistance (~$72.1k–$75.5k) and clearer macro stability. Overall, inflows show underlying demand wey fit limit persistent downside, but macro correlation mean price still vulnerable to broader risk-off moves.