Bitcoin price fell more than 5% over the past 24 hours on Sunday evening, falling below $65,000 as major holders moved coins to exchanges and recent buyers sold at a loss, adding pressure to an already fragile market.
Most of the price drop happened within just two hours on Sunday evening.
This marks Bitcoin’s first-ever stretch of six consecutive negative weekly closes, six straight closes below its 100-week moving average, and three consecutive closes below the 2021 high.
The world’s largest cryptocurrency was trading near $64,500 at the time of writing, down about $3,500 on the day. The decline followed a weekend breakout from the $67,000 range, breaking a relatively tight consolidation and accelerating into thin liquidity.
Trading activity increased during the drop, signaling active distribution rather than a quiet operation, according to Bitcoin Magazine Pro data.
Meanwhile, exchange metrics from CryptoQuant reveal that whales are dominating the influx. CryptoQuant said large bitcoin holders are now driving most exchange deposits, with the exchange whale ratio rising to 0.64, the highest level since 2015, signaling that whales are leading selling activity.
The average bitcoin deposit size has risen to 1.58 BTC, the highest since June 2022, reinforcing that bigger players are moving coins to exchanges.
While total inflows have fallen around 60% from the early February surge to around 23,000 BTC in a seven-day average, currency flows remain high, leaving the market exposed to further volatility.
Bitcoin price analysis
Prior to this bitcoin price dump, price action was semi-muted over the past week, with a bounce from a $60,000 bitcoin price failing to break the resistance at $71,800 and instead falling to support near $65,650 before closing around $67,000 the previous week.
Bears remain in control as buyers have shown little follow through. But some large institutions continue to buy into bitcoin price exposure. Abu Dhabi’s Mubadala Investment Company increased its stake in BlackRock’s iShares Bitcoin Trust (IBIT) to 12.7 million shares, worth about $630 million per share. Dec. 31, up 46% from the previous quarter.
Al Warda Investments also raised its IBIT holdings to 8.22 million shares and continued its shift to regulated bitcoin ETF exposure. Together, the two Abu Dhabi funds held more than 20 million IBIT shares worth over US$1.1 billion by the end of 2025.
Strategy bought another 2,486 BTC for $168.4 million last week, bringing its total holdings to 717,131 BTC accumulated.
Head of Strategy Michael Saylor hinted at X that Strategy may make its 100th Bitcoin purchase this week, continuing a 13-week accumulation streak despite an unrealized loss of $5.8 billion.