Whales have stepped in with a fresh wave of leveraged long bets, injecting almost $149 million into Bitcoin and Ethereum after the crypto’s price crossed back above $64 k. This follows MicroStrategy’s recent $216 million sale of 3,588 BTC, a move that had many market participants on edge. The fact that large holders are now taking bullish positions suggests that institutional confidence is still intact, even as the broader market remains in a “Fear” state according to the latest sentiment gauge.
Bitcoin’s price is hovering around $63,257, up just over 0.3 % in the last 24 hours, while Ethereum is trading near $1,775 with a negligible 0.05 % gain. These modest moves indicate that the market is consolidating rather than rallying wildly. For retail investors, the takeaway is that the price is currently stable, but the presence of leveraged longs could amplify swings if the market shifts direction.
Looking ahead, watch how these whale positions evolve. If the leveraged longs hold, they could support the price as it pushes toward the $65 k mark. Conversely, a sudden unwind could trigger a pullback. The recent headlines about MicroStrategy’s sale hint at a potential “durable bottom,” but the market’s fear reading suggests caution. Retail traders should keep an eye on both price action and on-chain whale activity to gauge whether the bullish stance is sustainable.