Bitcoin Price Plunges to Two-Week Low Amid Institutional Demand Setbacks

Bitcoin's price has been under pressure in recent days, falling to a two-week low as institutional demand setbacks, tariff chaos, and US-Iran tensions weigh on the market.

The largest cryptocurrency by market capitalization dropped below $64,000 on Tuesday, with its price continuing to trade down. SoSoValue data shows that spot Bitcoin Exchange Traded Funds (ETFs) recorded an outflow of $203.82 million on Monday, following a fifth straight week of outflows since the end of January.

However, some market participants remain optimistic about Bitcoin's prospects. Michael Saylor announced on X that Strategy (MSTR) purchased 592 BTC, bringing the firm's total holdings to 717,722 BTC. This purchase highlights its continued aggressive accumulation strategy and long-term conviction in Bitcoin.

The Relative Strength Index (RSI) on the daily chart reads 29, slipping below the oversold conditions and pointing downward, indicating strong bearish momentum. The Moving Average Convergence Divergence (MACD) lines are converging below the zero level, indicating indecisiveness among traders. Moreover, the falling green histogram bars indicate fading bullish momentum and suggest a potential bearish crossover.