Key facts
- Bitcoin is trading near the $66,000 mark.
- Whale accumulation and institutional buying are supporting the crypto market sentiment.
- On-chain data shows whales withdrew over 11,000 Bitcoin from exchanges.
- Strategy added 1,587 Bitcoin over the past week.
- Ethereum was up 3% and trading at $1,764.
Bitcoin is holding near the $66,000 mark, buoyed by whale accumulation and institutional buying that are supporting overall crypto market sentiment. The cryptocurrency was trading at $65,843, reflecting a marginal 0.3% increase in the past 24 hours.
On-chain data indicates reduced selling pressure, with whales withdrawing over 11,000 Bitcoin from exchanges, signaling growing confidence among large holders. Institutional demand remains a supportive factor, with Strategy reportedly adding 1,587 Bitcoin in the past week. Sustained ETF inflows could potentially drive Bitcoin above the immediate resistance level of $68,000.
Ethereum saw a 3% increase over the last 24 hours, trading at $1,764. Among other major altcoins, XRP, Solana, and Hyperliquid experienced gains of up to 6%, while BNB, Tron, Dogecoin, and Cardano saw declines of up to 2%.