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.<br />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.<br /><br />Wall Street macro investor Jordi Visser told Anthony Pompliano that Bitcoin’s current setup resembles an “IPO-style distribution.”<br />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.<br /><br />Technically, BTC just broke below its rising trendline and is trading under major EMAs, with support near $98,500–$100,000.<br />The Supertrend remains red, suggesting caution unless buyers reclaim the $112 K zone.<br /><br />Despite the pullback, Visser highlights Bitcoin’s maturing fundamentals: volatility near 30%, lower correlation to equities and gold, and growing institutional infrastructure.<br />He argues that what many see as stagnation is actually stabilization — setting up the next growth cycle.
