The post Why Is Bitcoin Below $66,000 Despite Massive Whale Purchases? appeared first on Coinpedia Fintech News
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
everyone worried about ai but consider that bro fired half his staff to free up cash to buy the BTC dip https://t.co/cbUmkqvVhn
— Bit Paine 
(@BitPaine) February 27, 2026
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.
JUST IN: 85% chance Bitcoin drops below $60,000
— Kalshi Traders (@KalshiTrade) February 27, 2026
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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Goldman Sachs Files for Bitcoin Premium Income ETF with SEC
Goldman Sachs has applied to the SEC to launch a Bitcoin Premium Income ETF, marking its entry into the Bitcoin ETF market. This follows Morgan Stanley's recent launch of a similar product, highlighting growth in institutional Bitcoin yield-focused investments.
GateNews40m ago
BTC 跌破 74000 USDT
Gate News bot 消息，Gate 行情显示，BTC 跌破 74000 USDT，现价 73999.9 USDT。
CryptoRadar45m ago
BTC drops 0.75% in 15 minutes: quick pullback triggered by short-term position trimming and capital outflows
2026-04-14 16:45 to 17:00 (UTC), the BTC market saw a clear ups-and-downs move, with a 15-minute return of -0.75%. The price quickly dropped from the 74529.4 to 75233.4 USDT range, with an amplitude of 0.94%. During this period, trading volume increased by about 12% compared with the average of the prior hour; market attention rose, and volatility significantly intensified.
The main drivers of this sudden move were short-term holders collectively cutting positions and a large outflow of exchange funds. From 16:45 to 17:00, the net outflow of BTC was approximately 4,800 BTC
GateNews2h ago
Bitcoin Reclaims $76,000 as US March PPI Misses Forecasts
Bitcoin surged past $76,000 following lower-than-expected US Producer Price Index data for March 2026, which indicated a 4% year-over-year increase. The rise reflects strong market support despite declining leveraged positions.
GateNews3h ago
BTC 15-minute rise of 0.64%: a technical breakout of key resistance combined with weak liquidity amplifies volatility
2026-04-14 15:30 to 15:45 (UTC), BTC saw short-term fluctuations within the 74,795.5 to 75,319.3 USDT range, with a return of +0.64% and a range of 0.70%. During this period, market attention warmed up, volatility intensified, trading volume rose slightly compared with the previous hour, and short-term buy orders pushed the price upward quickly.
The main driver of this unusual move was BTC’s short-term technical breakout above the 74,000 USDT key resistance, which generated a long signal and triggered rapid responses from quantitative and programmatic buy orders. At the same time, because the order book depth has been rising since 2025
GateNews3h ago
Bitcoin Reclaims $75,000 for Second Time Since US-Iran Conflict, Up 7% in 24 Hours
Bitcoin surged to $75,000 amid rising U.S.-Iran tensions, adding $98 billion to its market cap and causing $500 million in liquidations. Technical analysts suggest that holding support above $67,000 could lead to an increase toward $80,000, despite highlighting $50,000 as a critical level if support fails.
GateNews4h ago
