Bitcoin’s Triple Bounce Signals Strength Despite Institutional Sell Off

Despite significant institutional selling activity, Bitcoin continues to hold firm. A triple support bounce on the daily chart signals strong buyer demand and a potential uptrend. Reports show a total of $1.2 billion in Bitcoin sold by BlackRock, Binance, and the U.S. government before Jerome Powell’s speech on monetary policy. This comes as a major Bitcoin whale increased short exposure to $392 million, indicating opposing sentiment.