Bitcoin Drops Below $70,000 As Long-Term Holders Turn Cautious While Institutions Buy The Dip

After Bitcoin slipped under the $70,000 mark, Bitwise CEO Hunter Horsley said on Friday that long-term holders appear uncertain while institutional investors see a renewed buying opportunity. Bitcoin has declined more than 22% over the past month and was trading near $69,635 amid wider weakness in liquid assets, even as institutional inflows into Bitwise products topped $100 million on a single day.