I saw Bitcoin make a very interesting move in recent days. On the 15th, it reached $76k — the highest level since February — but then came the bad news: negotiations between the US and Iran went nowhere, and the American vice president confirmed that disagreements continue. As a result, the price dropped quickly, breaking below $72,000 on the same day, a decline of over 2% in just a few hours. It then recovered a bit, closing near $74,900, but the market remained quite volatile.

What caught my attention were the on-chain data. When Bitcoin hit that peak of 76K, the flow to exchanges surged — about 11,000 BTC in one hour, the highest volume since December 2025. This usually means people are selling and taking profits. More than 40% of these transfers were large amounts, suggesting whales were moving.

The curious thing is that while small investors sold in panic, institutions did the opposite. BlackRock, for example, withdrew 3,446 BTC from an exchange during this volatility — about US$255 million. Bitcoin ETFs in the US also had a net inflow of US$186 million that day, with BlackRock’s iBit leading with US$292 million in a single day. But not all funds followed the same strategy — Fidelity had an outflow of US$47 million, and ARK also exited.

I’ve always relied on observing these whale movements along with market data to understand what’s happening. The question now is whether this drop is just a correction within the uptrend or something more profound. With the fear index so low — at extreme panic levels — it seems many people are scared. But when I see institutions buying the dip while retail sells, there’s usually something interesting coming.