In the past 24 hours, Bitcoin's price fell approximately 2.33%, dropping from $106,150 to around $103,400, following a recent attempt to reach $106,000.

Since Monday, Bitcoin has experienced a 4.87% decline from a local peak of $108,850.

He differentiated himself from Bitcoin libertarians by stating his support for banks and centralized custody, refuting the idea that Bitcoin should only be held in self-custody.

On-chain data from Santiment revealed that while large wallets, holding 10 BTC or more, continued to accumulate Bitcoin, smaller wallets, holding between 0.001 and 10 BTC, decreased by 37,465, indicating a loss of confidence among smaller investors.

The accumulation by large wallets amidst the price decline suggests a potential for bullish momentum to return to the crypto markets.

Michael Saylor, executive chairman of the BTC treasury company Strategy, commented on Bitcoin's recent price drop of $2,500, expressing his long-term bullish outlook despite the fall.

Saylor shared an AI-generated image referencing the movie 'The Matrix,' suggesting that Bitcoin serves as a 'ticket to escape the matrix' of traditional banking.