Whale Buying Fails to Propel Bitcoin Past $65,000 Resistance

Bitcoin's price has struggled to break above $65,000 for the second time in recent days. The cryptocurrency dipped below this key resistance level despite strong whale accumulation and a steady recovery from its lows around $57,650.

The latest data from Santiment shows that wallets holding between 10 BTC and 10,000 BTC have added 19,696 BTC over the past eight days. This accumulation coincided with Bitcoin's failure to reclaim the $65,500 resistance level.

On the other hand, retail participation has weakened, as evidenced by reduced buying activity from wallets holding less than 0.01 BTC. Historically, sustained whale accumulation has supported stronger price recoveries, but Bitcoin still requires a decisive breakout above key resistance to confirm renewed bullish momentum.