Recently, there has been big news in the crypto world — institutional investors in the U.S. suddenly started dumping, selling nearly 700 million USD worth of BTC in a short period. This move directly crushed market sentiment, and everyone is watching a key price level: 100,000 USD.

This time it’s not retail investors randomly selling. According to on-chain data from a leading trading platform, accounts marked as American institutions collectively transferred out about 6,800 BTC over the past week. At an average price of $103,000 at the time, it exactly matches this $700 million figure. This includes hedge funds as well as investment institutions specializing in crypto, and some directly dumped thousands of coins in a single transaction. This level of selling pressure is something retail investors simply cannot withstand.

Why is everyone so concerned about the number 100,000? Simply put, this is a psychological barrier that has been repeatedly tested over the past year. Bitcoin has successfully rebounded from this position three times. Technical analysts will tell you that it is just stuck in the intersection area of the 60-day and 200-day moving averages—put in plain terms: if it breaks below, it might really drop further; if it holds, there may be a chance for a turnaround.

The current question is: how much longer can this defense line hold up as institutions are all running away?