A small number of people/market makers can control prices in the current low-liquidity environment. Right now, there are limited institutions selling, especially around the $60K price level. Once MicroStrategy's STRC gets back above water, they'll start buying Bitcoin again, bringing fresh money into the market and restarting the positive cycle. Recently, MicroStrategy's selling activity has stopped impacting Bitcoin's price. Retail investors have gone from absolute panic when they first heard about MicroStrategy selling to feeling indifferent. This kind of behavior is usually a sign that the bearish news has been fully absorbed. If there are no independent bearish events, Bitcoin could hit $70K in August—possibly by mid-August.