Why Is Bitcoin Below $66,000 Despite Massive Whale Purchases?

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So here we are again-Bitcoin (BTC) sitting at a casual $65,640 on February 27, just a mere stone’s throw away from the tantalizing $70K mark that slipped away two days ago. Oh, and it’s also hovering below the 200-week exponential moving average (EMA) of $68,300, a level that has historically been a harbinger of doom for price action. You know, the kind of doom that makes you check under your bed for Bitcoin’s future.

The Whale Watching Saga: Bulk Buys Galore

In the world of Bitcoin, where buying 340 BTC is just a Tuesday for fintech giants, Block Inc. (NYSE: XYZ) came through with its Q4 2025 earnings report, revealing that it picked up 340 BTC-no big deal, right? This brought their total holdings to 8,883 BTC, making them the 14th largest publicly traded Bitcoin holder on the planet. You know, the kind of big shot that casually buys Bitcoin like it’s on sale at the local store.

Everyone worried about AI but consider that bro fired half his staff to free up cash to buy the BTC dip.

– Bit Paine (@BitPaine) February 27, 2026

And just when you thought it couldn’t get any more ridiculous, Strategy-the top Bitcoin whale-scooped up 592 more BTC, bringing their stash to a jaw-dropping 717,722 BTC. Yes, you read that correctly: nearly 718,000 Bitcoin. Talk about commitment to the cause.

But wait-there’s more! BlackRock, of all companies, led a whopping $1.1 billion influx into US spot Bitcoin ETFs, ending a five-week streak of $3.8 billion in outflows. Maybe they know something we don’t, or maybe they just like to invest in things that are perpetually fluctuating in value. Either way, more institutions are reportedly about to jump into the crypto pool, thanks to the passing of the GENIUS Act. Because who wouldn’t want to join the crypto circus right now, right?

But Why Is Bitcoin Still In The Doldrums?

Ah, the million-dollar question. Well, it turns out that mid-term volatility is a lovely byproduct of US import taxes and geopolitical tensions between the US and Iran. These two factors have stirred up enough chaos to send capital fleeing toward safer investments, like gold, which is now trading at $5,250 per ounce. That’s up 20% since January 2026, because when in doubt, go for something shiny and historically “safe.”

Meanwhile, inflation in the US is reaching new heights, and the Federal Reserve seems poised to keep those interest rates high, which is obviously putting a damper on crypto assets. No surprises there.

To add to the drama, today saw some spectacular intraday volatility as $8.7 billion in Bitcoin and Ethereum options expired. Oh, and don’t forget the “AI Scare Trade,” where 50% of global venture capital decided to abandon crypto for AI companies. Because, of course, artificial intelligence is definitely where you want to put your money right now, not Bitcoin. And let’s not even get started on the Jane Street market manipulation allegations. Because, why not, right?

BTC Price Prediction: Will It Ever End?

History has a funny way of repeating itself, and Bitcoin’s price has historically bottomed about 23 months after its last all-time high (ATH). Given its March 2024 ATH of $73K, it seems like the timing is ripe for another dip-maybe even a significant one. Time will tell if Bitcoin is ready for its next downward leg, though.

Kalshi prediction markets, because why not let the market predict the market, are placing an 85% chance that Bitcoin will dip below $65,000. Extreme fear? Check. Market sentiment? Check. Everyone’s favorite feeling? Check.

JUST IN: 85% chance Bitcoin drops below $60,000

– Kalshi Traders (@KalshiTrade) February 27, 2026

But, of course, not everyone is doom-and-gloom. Some analysts are calling for an extended period of BTC price appreciation, arguing that Bitcoin’s traditional four-year boom-bust cycle might be a thing of the past. Because, sure, why not-let’s throw tradition out the window and embrace the unknown. Who’s to say it won’t work?

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2026-02-27 22:21