Bitcoin Plunges Below $65,000 as Whale Sell-off Triggers Market Panic

Key Facts

1Bitcoin price fell by over 5% within just two hours.

2The price broke below the $65,000 psychological support level.

3Large holders (whales) moved significant holdings to exchanges, triggering panic among retail investors.

Bitcoin experienced a sharp flash crash during Sunday night trading, plummeting more than 5% within a two-hour window. The digital asset broke through the critical psychological support level of $65,000, signaling a shift in short-term momentum. Market data indicates that large-scale holders, commonly known as 'whales,' moved significant amounts of BTC to exchanges, precipitating the decline. This massive movement of assets triggered a wave of panic selling and stop-loss liquidations among retail investors. Analysts suggest that the breach of this key support level on high volume could lead to further volatility across the broader cryptocurrency market. Related instruments, including Ethereum (ETH/USD) and crypto-linked stocks like Coinbase (COIN), also faced downward pressure following the move.