Bitcoin Bulls vs. Bears: Why BTC Is Consolidating Despite Massive Institutional Dumps
In the past month, Bitcoin (BTC) has been continuously grinding sideways between $62,000 and $66,000, with a press-time price of $ $64,595. Source: TradingView While dull, this consolidation is a. . .
In the past month, Bitcoin (BTC) has been continuously grinding sideways between $62,000 and $66,000, with a press-time price of $ $64,595. Source:TradingViewWhile dull, this consolidation is a testament to market resilience amidsubstantial selling pressure. It also reflects the positive market sentiment surrounding Goldman Sachs’ prediction of an “unlikely” September Fed Interest rate hike. Here are some of the cohorts showing adoption and endorsement of the cryptocurrency despite price stagnation. Bitcoin adoption continues globallyAmong institutions, Tudor Investment Corporation reversed its year-long selling trend by increasing its holdings in BlackRock’s spot Bitcoin ETF by 18. 9% in Q2. Quantitative trading firm Jane Street also boosted its spot BTC ETF shares by $630 million in the same quarter, bringing its position to between $990 million and $1. 06 billion. As for Bitcoin treasuries, Metaplanet (nicknamed “Asia’s Strategy”) plans on bringing its corporate BTC treasury playbook to Nasdaq via Super League Enterprise. Metaplanetwill invest2,100 Bitcoin and $2. 5 million in cash into the gaming company, effectively rebranding it to Superplanet. Another is Chinese company Zhibao Technology, which recently became the 33rd publicly traded Bitcoin treasury after selling shares for 2,380 BTC. In terms of regulation, Kazakhstan announced a three-year 0% tax policy on individual crypto gains. Meanwhile, Russia’s crypto regulatory framework has encouraged Moscow Exchange to announce its debut of Bitcoin and Ethereum futures trading in September. As for endorsements, BlackRock says a 1-2% weighting on BTC achieves optimal risk-adjusted returns, with reduced correlation to the stock market proving advantageous. Meanwhile, Ohio Governor Candidate Vivek Ramaswamy announced Bitcoin education in public schools as part of his manifesto. This would mimic El Salvador’s Bitcoin literacy program launched this year. Short and long-term targetsIn the near-term, if BTC holds above the median realized price of $63,200, it could rise to the $65,000 resistance mark. However, a break below this wouldpave the wayfor $62,000. Nonetheless, conviction buyers have increased as charts depict similarities to the 2022 bottom. End-of-year projections range between $50,000 (Standard Chartered) and $75,000 (Fidelity Investments). Source:TradingViewStrong hands are buying bitcoin:native. Bottoms are formed when profit taking slows and conviction buyers step in. This setup looks similar to what we saw during 2022. The largest increase in BTC held by conviction buyers occurred when BTC dropped to $60k in January. pic. twitter. com/sGO5AYHFIW— glassnode (@glassnode)August 18, 2026Story Ends HereTrust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors. Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices. Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners. Read the Next News