Bitcoin Price Maintains Above Key Support Level Amid Institutional Selling Pressure

Bitcoin's price movement has been closely monitored by investors and analysts alike. Recently, Jiang Zhuo'er, the founder of BitDeer Mining Pool (B.TOP), made an observation that the cryptocurrency has not successfully broken below its $60,000 support level.

This is a significant development in the market, as the price difference between exchanges has been shrinking. This indicates a decrease in selling pressure from institutions such as ETFs and US stock holders.

Jiang Zhuo'er also announced that he had repurchased his ETH holdings at $1645, expecting a rebound within 1 to 3 days. This move suggests a potential shift in market sentiment.