Bitcoin Price Crashes Below $65,000, Drops 5% In 2 Hours
Bitcoin Magazine • • business
Key Points:
- Bitcoin's price dropped over 5% within 24 hours, falling below $65,000 as large holders moved coins to exchanges and recent buyers sold at a loss, intensifying market pressure.
- This decline marks Bitcoin's first six consecutive weekly losses, six straight closes below its 100-week moving average, and three consecutive closes under its 2021 high.
- Data shows whales are driving most exchange inflows, with the exchange whale ratio hitting its highest since 2015 and average deposit sizes reaching levels not seen since June 2022.
- Despite the recent price drop, major institutional investors like Abu Dhabi’s Mubadala Investment Company and Al Warda Investments continue to increase their exposure to Bitcoin through regulated ETFs.
