Bitcoin Price Collapse Looms as Institutional Investors Flee

Bitcoin's recent price decline has sparked concerns among analysts and institutional investors about a deeper price collapse. According to data from SoSoValue, the leading cryptocurrency has experienced its first 12-day outflow streak since the debut of spot BTC ETFs.

The rising amount of Bitcoin stored on centralized exchanges is another concerning factor, with over 2.72 million coins held on such trading venues, the highest point since March. This development increases selling pressure and adds to the market's fragility.