Institutional Bitcoin holdings reach nearly 30% of circulating supply; can the technical support level hold?

【Crypto World】Major US banks have recently launched cryptocurrency products for high-net-worth clients, and institutional investors’ enthusiasm for Bitcoin continues to grow. Data shows that institutions currently hold nearly 30% of the circulating supply of Bitcoin, amounting to approximately 5.94 million coins—this figure reflects the accelerating penetration of traditional finance into Web3 assets.

However, recent price fluctuations tell a different story. The market’s recent decline pressure mainly stems from large-scale stop-losses in the futures market. When a significant number of long contracts are closed, it often triggers a chain reaction, further pushing down spot prices.

On the technical side, analysts are generally focusing on Bitcoin’s two-year simple moving average—around $82,800. This is not only a technical level but also a watershed for long-term trends. Whether this support can hold directly determines if Bitcoin can continue its existing upward channel. A break below may indicate a further shift in market sentiment. Therefore, the next movement depends on how long this critical price level can sustain.