Key highlights:
- Bitcoin whales accumulated 66,700 BTC, according to CryptoQuant, even as mid-tier holders continued selling
- BTC briefly reclaimed $65,000 before pulling back to around $64,100, with a $59 million liquidation cluster sitting above at $65.4K
- Spot Average Order Size data shows whales are increasing purchases despite Bitcoin remaining trapped between key moving averages
Additional support for the reports comes from Spot Average Order Size data, which indicates that larger buy orders have increased at current price levels.
Historically, rising average order sizes often reflect growing participation from institutional investors and high-net-worth traders, who typically accumulate during periods of market uncertainty rather than chasing momentum.
The divergence between whale accumulation and retail selling may indicate growing confidence among long-term investors despite Bitcoin’s recent volatility.
Source: CryptoQuant
Liquidation cluster above $65K could attract price
Derivatives data points to another important level that traders are watching closely.
A liquidation cluster worth approximately $59 million sits around the $65,400 price level, creating a potential liquidity magnet should buyers regain momentum.
Markets often gravitate toward areas with concentrated leveraged positions, as liquidations can accelerate price movements once key resistance levels are breached.
If Bitcoin manages to reclaim $65,000 with convincing volume, the liquidation zone above could provide additional fuel for an extended rally.
Conversely, failure to sustain buying pressure may keep BTC trapped within its current range until a stronger catalyst emerges.
Source: Coinglass
Bulls retain the on-chain advantage
While Bitcoin’s short-term technical outlook remains neutral, on-chain indicators continue to favor the bulls.
The combination of rising whale accumulation, larger average spot order sizes and significant liquidity resting above current prices suggests institutional participants remain optimistic despite the market’s recent hesitation.
As it stands, the battle around $65,000 remains the key level to watch. A decisive move above $65,400 could trigger fresh liquidations and strengthen bullish momentum, while continued rejection may extend Bitcoin’s period of sideways consolidation.
Source:: Bitcoin Whales Buy 66,700 BTC as Price Holds Above $64K