Bitcoin drawdown stems from decelerating institutional demand and heavy ETP outflows rather than any lone 32 BTC sale, according to André Dragosch.

Price sits at $62967.81 inside Bollinger Bands with upper resistance at $70740.52 while the 50-EMA at $69310.02 and 200-EMA at $74569.66 cap upside; the death-cross MACD at -2291.85 confirms trend weakness yet the oversold RSI(14) of 27.48 hints at near-term exhaustion before any bounce attempt toward lower-band support at $60814.92.