Finance News

Story: Bitcoin Plunges Below $65K as Whales Dump Holdings

By Julie Binoche

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Bitcoin crashed hard Sunday night. The cryptocurrency fell over 5% in just two hours, breaking below the $65,000 level as major holders rushed to exchanges and panicked retail…

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Trading volume exploded during the selloff, showing this wasn't some gradual decline but active dumping by big players.

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CryptoQuant's data shows whale activity spiked to levels not seen in nearly a decade. The exchange whale ratio hit 0.

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Bitcoin had been pretty much stuck in a tight range before this happened, failing to crack the $71,800 resistance level that's been holding since January.

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But the big money was definitely moving out. Strategy, the company that's been bitcoin's biggest corporate cheerleader, actually bought more during the crash.

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Major exchanges haven't said much yet. No official statements about the whale activity or what it means for the market going forward.

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James Carter from BlockAnalytica thinks February's been a mess for bitcoin stability. He said major holders are basically controlling the market right now, and their actions are…

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Grayscale Investments bought more bitcoin for their trust on February 22, showing they're still bullish long-term despite the chaos.

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Coinbase got slammed with traffic during the crash, with transaction volumes hitting levels not seen since late 2025.

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Kraken saw short positions increase by 15% as traders bet on more downside. That kind of bearish sentiment usually means the selling isn't over yet.

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CME Group said open interest in bitcoin futures dropped 12% over the past week. Traders are pulling back from derivatives, which makes sense when nobody knows where the price is…

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The market's basically waiting to see what whales do next.

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The Federal Reserve's latest meeting minutes, released just hours before the crash, showed officials remain concerned about inflation persistence despite recent cooling.

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Meanwhile, the timing coincided with quarter-end rebalancing by major funds. Portfolio managers often reduce exposure to volatile assets like bitcoin before reporting periods to…

The Currency Analytics

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