Bitcoin fell to $60 thousand without panic liquidations: the market is being squeezed by "institutional stops" and a shortage of systemic demand
Last week, Bitcoin declined to the area of $ 60 thousand, and by February 9, it partially regained its decline and was trading around $69 thousand. The unusual episode lies in the nature of the movement: not a "one candle" on the news and mass liquidations, but several days of systematic pressure, with almost no spectacular capitulation surge.
Key version: sales due to structural product regulations. The explanation focuses on the behavior of large players who entered the "wrapped" tools in the crypto market (structural solutions, ETFs and comparable products), where a loss limit is prescribed in advance. When the loss reaches a set threshold, positions are closed automatically — and the market gets a mechanical sale, not an emotional one. The article mentions a "stop" level of about $ 78.7 thousand: going below it could trigger a cascade of closures, when the triggering of some restrictions pulls the price to the next.
A separate semantic emphasis is on the nature of these sales:
"Investment bankers simply hedged this loss. They have obligations to the investor to fix the loss so that the person does not lose more money. They have to sell some amount of bitcoin or bitcoin products for an equivalent amount. This happens automatically, and investment banks at this moment do not think about how much bitcoin costs and where it will go next," the analyst explained.
Why it matters: the crypto market is changing the "physics". Previously, retail HODL investors were waiting for drawdowns, and the market could fall deeply, but often "with rebounds" in the wake of speculative demand. Now the institutional rules of risk management have been added, and this is changing the dynamics: the sale is becoming more "systemic", and the recovery is more dependent on the appearance of a new stream of buyers, rather than on the emotions of the crowd. The article explicitly states the question: if institutions are "thinking hard," where will the next steady demand come from?
The scenario for the coming months: a sideways turn instead of a V-turn. The forecast sounds restrained: the probability of a rapid V-shaped reversal is estimated to be low due to the lack of system buyers.
Key quote on market expectations:
"I think it's unlikely that we'll see some kind of V-shaped reversal now. There are no buyers who would systematically buy," the analyst believes.
At the same time, it is assumed that bitcoin can spend 3-4 months (or longer) in the range of $ 65-80 thousand, and interest will increase with a change in the US monetary background (the text mentions the factor of a future rate cut when the head of the Fed changes).
Expert conclusion for business and foreign economic activity audience. For companies accepting crypto in calculations/experimenting with crypto payments and hedging, the main lesson is not to "guess the bottom", but to manage risk: fix limits, calculate liquidity drawdown, and separate trading and operating budgets. Institutional "stops" make movements more mechanical, which means they are faster in certain areas. In an environment where the market may need time to recruit new demand, relying on discipline (rather than emotion) becomes a competitive advantage.
