Bitcoin Hovers Around $65K as Institutional Flows Provide Support
Bitcoin's price has been holding steady at around $64,330, despite some volatility in the market. The cryptocurrency is currently trading above its short- and medium-term averages, but still below its long-term daily trend benchmark.
The recent sales of 1,638 BTC by Strategy (formerly MicroStrategy) for over $104.7 million to fund dividends, share repurchases, and boost liquidity have been seen as a measured reduction in supply pressure rather than a broad liquidation. This move has contributed to the ongoing institutional participation in the market.
A major Coldcard wallet breach resulted in the theft of over 1,300 BTC, prompting some users to relocate their funds and raising short-term caution. However, the incident has not had a significant impact on the overall market sentiment.
On the technical chart, BTC/USD holds above the MA-20 and MA-50 on the H1 timeframe but stays below the MA-200 on the daily. The Ichimoku Kijun at $64,000 provides immediate support, while momentum remains positive with bullish readings from both MACD and ADX.