A trader said Bitcoin could target $65,600 if it holds last week’s close near $59,000, while the reported Strategy sale was said to have been handled through institutional trades rather than the open market.
Bitcoin briefly climbed back above $64,000 after initially falling on news of Strategy’s reported sale of 3,588 BTC, a move that the market appeared to absorb quickly before prices recovered. As of publication, HTX quoted Bitcoin at $64,007.31, up 0.81% over 24 hours, while Ether changed hands at $1,797, up 0.51%. Trader Killa (@KillaXBT) said Bitcoin could rise to $65,600 if it holds last week’s closing level near $59,000, and said the reported Strategy transaction was executed via institutional trades rather than the open market, which he said may help explain Bitcoin’s drop-then-rebound move overnight. In derivatives positioning, HyperInsight said “Machi” increased his ETH long to $17.08 million, with a liquidation price of $1,765.32, and had made more than $400,000 in profit over the past week.