As Bitcoin Clings to $64,000, a Massive $60 Billion Whale Dump Sparks Fears of a Crash

Jakarta, Pintu News – Bitcoin (BTC) price is consolidating after the recent volatility, with the movement stuck in a neutral structure. The ‘crypto king’ seems to be struggling to establish a definitive trend over the past two weeks.

Currently, Bitcoin is still moving in arangebound manner, reflecting the balance of pressure between buyers and sellers. This equilibrium condition indicates that future investor behavior is likely to be the main determinant of the direction of further price movements.

Bitcoin Price Drops 0.87% in 24 Hours

On February 24, 2026, Bitcoin’s price softened to $64,218—roughly IDR 1,086,156,623—marking a slight 0.87% decline over the past 24 hours. Throughout the trading session, the flagship cryptocurrency navigated a volatile range, dipping to an intraday low of IDR 1,075,799,194 before touching a high of IDR 1,119,442,642.

Despite the minor price correction, market activity heated up significantly; daily trading volume surged by 58% to hit IDR 839.93 trillion, bringing Bitcoin’s total market capitalization to approximately IDR 21,574 trillion.

Read also: Bitcoin Vs Gold: Which Asset Will Explode in 2026?

Concern from Whale, Support from MTHs

On-chain data indicates that youngholders prefer to HODL rather than exit their positions. HODL waves show that the supply held by investors aged one to three months has decreased by 5%. This supply hasmatured into the three-to-six-month age group, signaling less short-term selling.

This shift reflects the increased resilience of holders despite the recentdrawdowns. Bitcoin investors whose positions are stillunderwater were observed not to liquidate due topanic-selling.

Instead, the assets are aging and falling into the long-term category, which has historically been the underpinning of price stability. Reduced short-term distribution often limitsdownside volatility and strengthens structural support zones.

While the behavior of some asset holders appears stable, whale activity shows contrasting dynamics. Since February 13, large holders have moved around 900,000 BTC with an estimated value of $60 billion. This transfer activity suggests that large capital may be preparing to exit positions following limited price appreciation.

Persistent whale selling can triggersupply shocks, especially in arange-bound market. This massive distribution increasesoverhead resistance and weakens bullish momentum.

If holders of this major asset become increasingly impatient, continued selling pressure could undermine BTC’s stability and increase the probability of a broader correction.

Will BTC Price Experience a Breakout or Breakdown?

As of February 23, Bitcoin was trading at $66,188 at the time of writing after slipping below thesupport level of $67,394. The asset remains stuck between the $65,000 to $70,000 range. This consolidation range reflects the ongoing market equilibrium.

A decisive breakout or breakdown will most likely set the tone for the next big move in Bitcoin price.

Over the past two weeks, BTC has formed a symmetrical triangle pattern. The current price action shows no clear directional bias. However, sustained selling by the whales could shift the balance to the downside. In case of a breakdown below the triangle’s support, Bitcoin price risks being dragged towards $64,142.

Read also: XRP Price Prediction: Bulls eye $1.47 after historic surge in losses

Breaking the level would expose BTC to a potential further drop to the $60,000 area. It should be noted that the recent appearance of long lower wicks signalsdip buying interest.

Conversely, if the distribution by whales slows down and medium-term holders transition into long-term holders, recovery prospects may strengthen. The emergence of new demand could trigger a breakout above the range resistance. A contained move towards $71,963 would invalidate the short-term bearish view.

If the level is successfully surpassed, the upside could continue towards $74,789, while restoring bullish momentum in the broader crypto market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Could Bitcoin Whale Selling Trigger a Crash? Accessed on February 24, 2026