Woofun AI reports that Bitcoin stabilized at $63,739, driven by aggressive institutional buying from BlackRock via the IBIT ETF, which offset selling pressure linked to Strategy and Coinbase Prime transactions.

BlackRock executed a rapid accumulation strategy, absorbing approximately $81 million in BTC within minutes. This activity spanned multiple Bitcoin blocks, featuring distinct purchases of 300 BTC followed by a larger acquisition of 1,000 BTC, demonstrating immediate liquidity absorption during market dips.

Conversely, selling pressure intensified as Strategy sold nearly $216 million worth of BTC to meet dividend obligations tied to its securities. By early July, BlackRock’s IBIT ETF recorded $772 million in net outflows, reducing total assets toward $44 billion, while the broader correction pushed Bitcoin to a local low near $59,000.

Woofun AI data shows large holders accumulated more than 270,000 BTC from recent lows, significantly reducing available supply on exchanges. This structural shift in supply dynamics allowed institutional buyers to absorb the remaining float, effectively neutralizing the impact of corporate sell-offs.

Bitcoin’s recovery above $63,000 coincided with the relative strength index climbing to 65 points, indicating renewed momentum. Spot Bitcoin ETFs continue to channel traditional investors into the market, suggesting that institutional demand remains the primary driver of price stability amid volatility.