Price Analysis View Non-AMP

Why Is Bitcoin Below $66,000 Despite Massive Whale Purchases?

Published by
Steve Muchoki

On February 27, Bitcoin (BTC) was trading at $65,640, after failing to reclaim the $70K level two days ago. Its price is also below its 200-week exponential moving average (EMA) of $68,300, something that would trigger a historical additional bearish acceleration.

Source: X

Rise in Bitcoin bulk buys

As stated in its Q4, 2025 earnings report, fintech conglomerate Block Inc. (NYSE: XYZ) acquired an extra 340BTC in that quarter, bringing its total holdings to 8,883 BTC and making it the 14th largest publicly traded holder of Bitcoin globally. 

Meanwhile, the leading publicly traded holder of BTC, Strategy, just recently acquired 592 BTC, bringing its stash to a total of 717,722 BTC.

Institutionally, BlackRock led the recent $1.1 billion inflows to US spot Bitcoin ETFs, breaking a five-week outflow streak of $3.8 billion. More institutions are expected to join the crypto industry, following the implementation of the GENIUS Act.

Why is Bitcoin still showing negative price action?

Mid-term volatility in the crypto market is the product of new US import taxes and the US-Iran geopolitical tensions. Both have caused widespread capital rotation to safe havens like gold, which now trades at $5,250 per ounce (20% up since January 2026).

Heightened inflation in the US has raised expectations that the Federal Reserve will extend current interest rates, causing downward pressure on crypto assets.

Markets today recorded significant intraday volatility as $8.7 billion in Bitcoin and Ethereum options expired. Meanwhile, the “AI Scare Trade” has seen 50% of global venture capital redirected from cryptocurrencies to AI companies. The Jane Street alleged market manipulation saga has done little to help the market.

BTC price prediction

Historically, Bitcoin has always bottomed roughly 23 months after its last all-time high (ATH). Time is now due since its March 2024 ATH of $73K, suggesting future downward price action.

Kalshi prediction markets show an 85% chance that Bitcoin drops below $65,000, echoing current extreme fear market sentiment.

On the flip side, most analysts now propose an elongated cycle of BTC price appreciation, following a break in the coin’s traditional four-year boom-bust cycles.

Trust with CoinPedia:

CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:

All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:

Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Steve Muchoki

Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

Recent Posts

Bitcoin Falls After US-Iran Talks Collapse

Bitcoin pulled back after stalled US-Iran peace talks dented market sentiment, rejecting near the $73,000–$74,000…

April 13, 2026

FTX Estate Unstakes $16M SOL as Repayment Plan Progresses

The FTX and Alameda estate has moved 198,425 $SOL worth around $16M to a bankruptcy-controlled…

April 13, 2026

U.S.-Iran Peace Deal Failed, Crypto Markets Brace for Volatility

After 21 hours of continuous talks in Islamabad, Pakistan, the U.S.-Iran peace deal broke down…

April 13, 2026

Polkadot Exploit Triggers DOT Price Drop—Breakdown Risk or Bullish Defense Ahead?

Polkadot (DOT) price has come under extreme pressure. A sharp sell-off followed reports of a…

April 13, 2026

Comparing Market Value: XRP, Ethereum and Pepeto: Is a Presale Entry Smarter Than Holding XRP and Ethereum Right Now?

XRP pulled $120 million in ETF inflows last week, more than half the global total,…

April 13, 2026

Polkadot Exploit: 1B DOT Minted, Dumped for $237K, Price Crashed

Polkadot (DOT), an open-source sharded multichain protocol, was exploited after an attacker minted 1 billion…

April 13, 2026