Coinbase, Bullish and eToro in selloff mode as bitcoin drops below $89,000

Market Trends & Bitcoin Performance - Bitcoin plunged below $89,000, down nearly 30% from its record high [1] - Crypto is in sell-off mode even as tech stocks are rebounding [1] - Thinning liquidity is a major driver as key buyers step back [2] Institutional & Corporate Involvement - Institutions hold around 16% of Bitcoin supply, but that trade is losing momentum [2] - Strategy, the largest corporate holder of Bitcoin, is down around 10% [2] - BlackRock's IBIT, the largest spot Bitcoin ETF, posted its biggest single-day outflow since launch [3] Price Target & ETF Flows - Mizuo and Clear Street are both cutting their price targets on MicroStrategy stock [3] - Many crypto ETF holders are now underwater, undercutting the argument that buyers will always step in [3] Crypto-Related Equities - Bitcoin miners and digital asset exchanges like Coinbase are in the red [4] - Digital asset treasury names are also firmly in sell-off mode [5] Technical Indicators - Bitcoin triggered a death cross technical indicator on Sunday [5] - A 7-day window could decide whether the bottom is in or if there's more pain ahead [5]