Bitcoin has fallen almost 50% from its all-time high. But investor Kevin O’Leary says the bigger story isn’t just the price drop.
He believes something deeper is changing in the market.
O’Leary says sharp crashes are nothing new for Bitcoin. It has been through brutal corrections before. He pointed to last October’s meltdown, when Bitcoin dropped hard and many smaller crypto tokens collapsed 80–90%. Some of them never recovered.
But this time, he says institutions are behaving differently.
According to O’Leary, big investors have become much more selective. Instead of spreading money across many tokens, they’re focusing mainly on Bitcoin and Ethereum.
“If you want most of the upside and volatility in crypto, you only need Bitcoin and Ethereum,” he said. In his view, many smaller tokens are simply not attractive to large institutional players.
O’Leary says he’s still long on Bitcoin. But he also admits institutions are cautious. One reason? Growing talk about quantum computing.
Some experts believe that powerful quantum computers in the future could potentially break the cryptography that protects blockchain networks. That threat is still theoretical and likely years away. But O’Leary says even the possibility is enough to make institutions careful.
Because of that, many large investors are limiting their crypto exposure to around 3% of their portfolios. They’re staying disciplined. They’re waiting for more clarity.
On the charts, Bitcoin is currently trading around $68,000 after dropping from the mid-$90,000 range earlier this year. It briefly fell near $60,000 before bouncing slightly. Now, it’s moving sideways just under the key $70,000 level.
Momentum still looks weak.
The $70,000–$72,000 area is acting as strong resistance. If Bitcoin can break above that, it could move toward $75,000. On the downside, $65,000 is the first important support level. Below that, $60,000 remains the critical floor. If that level breaks, selling pressure could increase again.
For now, the market is cautious — and institutions are watching closely.
