30% of Bitcoin is locked up by big players – So why is BTC’s price falling?

Введение

Bitcoin's price decline is occurring despite significant institutional accumulation, with large holders now controlling nearly 30% of the circulating supply (approximately 5.94 million BTC). This institutional ownership, spread across ETFs, public companies, and government treasuries, has reduced sell-side pressure. Major U.S. financial institutions are also expanding Bitcoin-related services. However, the recent price drop was primarily driven by leveraged long liquidations in the futures market. As highly leveraged positions were automatically closed during price dips, forced sell orders triggered a cascading effect. The key level to watch is Bitcoin's two-year simple moving average (SMA) near $82,800, which has historically acted as a critical regime indicator. A monthly close below this level could signal further downward pressure, while holding above it maintains long-term bullish structure.