Bitcoin Price Drops 5% Below $65K Amid Whale Selling and Investor Losses | BTC Analysis

The price of Bitcoin (BTC) experienced a sharp decline, falling over 5% and dropping below the critical $65,000 support level. This market movement is primarily attributed to increased selling pressure from large holders, commonly known as "whales." Data from on-chain analytics platforms indicates a rise in BTC transfers from whale wallets to exchanges, a typical precursor to sell-offs. Concurrently, many recent buyers who entered the market at higher price points are now realizing losses, contributing to the downward momentum. Market analysts are closely monitoring key support zones, with some suggesting that sustained selling from these major players could lead to further short-term volatility. The overall sentiment in the trading community has shifted to caution as the market digests these developments.