Institutional investors have halted their accumulation of stablecoins over the past two days, leading to a drop in Bitcoin’s price below a key psychological level. During the past 24 hours, Bitcoin (BTC) price fell 3.9% to trade at $58,930 as of 08:03 a.m. in UTC, falling from a weekly high of $62,510. The drop below the $60,000 mark was likely caused by institutions stopping their stablecoin buying frenzy, according to onchain analytics platform Lookonchain’s Aug. 12 X post: “Institutions seem to have temporarily stopped buying, and the price of $BTC dropped 4.5% today! We noticed that instit…