Fred Thiel, CEO of Marathon Digital, described the recent 30% decline in Bitcoin's price from its $126,000 peak as a "healthy pullback." Thiel highlighted $84,000 as a critical support level, aligning with the break-even points for most Bitcoin ETFs. He attributed the price movement to the unwinding of leverage and shifts in global liquidity. Thiel also noted the increasing involvement of traditional financial institutions, such as JPMorgan, in the cryptocurrency space. This trend reflects a broader acceptance and integration of digital assets within the financial sector, despite recent market volatility.