Bitcoin Defies Bad News with $65K Recovery as Whales Buy $2 Billion
Bitcoin has demonstrated its resilience to negative news by recovering above $65,000 after a string of developments that would typically pressure prices. The top digital asset rose about 2% over the past 24 hours to as high as $65,212, its strongest level since late July, according to CryptoSlate data.
The recovery came despite major hardware-wallet security breach and another delay to the landmark CLARITY Act legislation. However, the market's sensitivity to bad news has pushed close to historical lows, according to Andre Dragosch, head of research at Bitwise Europe.
Bitcoin holders are still realizing losses, but the intensity of that selling has fallen considerably from previous declines. The net realized loss remains negative at about $368 million, meaning investors are collectively selling some coins below their acquisition prices.