Bitcoin briefly fell below $64,000 before rebounding due to buying activity from large wallet holders. This dip tested a key support zone that has acted as both support and resistance in recent weeks.
The largest cryptocurrency by market capitalization's move triggered heightened activity among whale wallets, which have historically signaled confidence among sophisticated market participants.
According to on-chain data from Santiment, large holders with 1,000 BTC or more used the pullback as a buying opportunity rather than exiting positions.