Bitcoin (BTC) has dropped 16% in the past month, falling to around $100,566 (–5.6%) today as long-term “OG” holders continue to sell. Analysts say this kind of distribution often marks the late stage of a bull cycle — with veteran holders taking profits while retail and institutions absorb supply.
Wall Street macro investor Jordi Visser told Anthony Pompliano that Bitcoin’s current setup resembles an “IPO-style distribution.” He believes early investors are diversifying after years of gains, shifting capital toward AI and China’s recovery, while Bitcoin consolidates for the next phase.
Technically, BTC just broke below its rising trendline and is trading under major EMAs, with support near $98,500–$100,000. The Supertrend remains red, suggesting caution unless buyers reclaim the $112 K zone.
Despite the pullback, Visser highlights Bitcoin’s maturing fundamentals: volatility near 30%, lower correlation to equities and gold, and growing institutional infrastructure. He argues that what many see as stagnation is actually stabilization — setting up the next growth cycle.
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