• Bitcoin's price has continued to drop lower, diving below $65K over the last 24 hours.
  • Despite investor profitability, the volume of transactions processed in the Bitcoin network has declined significantly, according to Glassnode.
  • Bitcoin's market exposure among hedge funds has dropped drastically, according to ETC group data.

Bitcoin's price fell below $65,000 on Wednesday following Increased whale activities that may be sell orders. Meanwhile, hedge funds have experienced a drag in their Bitcoin exposure, which may be fueled by consistent outflows among Bitcoin ETFs.

Bitcoin continues to struggle, investors may be losing patience

The price of Bitcoin scraped below $65,000 on Wednesday, trading at $64,800 with no signs of recovery in sight. BTC's recent price action continues to dampen investors' confidence despite an increase in its dominance over the general crypto market.

Also read: Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin technical indicators signal bullish momentum

While several investors have predicted a price reversal, increased whale activity might be a major player in Bitcoin's price decline. 

Crypto tracker Whale Alerts detected several BTC deposits worth more than $1 billion in the past few hours. This follows a series of other heavy transactions that have occurred in the last few days, weakening the asset's price.

Meanwhile, crypto analyst Axel Adler reported miners have transferred over 71,000 BTC through OTC desks. "A growing balance at OTC desks can be associated with increasing selling activity outpacing Bitcoin demand," he said.

Read more: Week Ahead: Crypto’s doom or a new all-time high in the making?

A Glassnode report also states how the continuous decline in Bitcoin's price amid speculations about a bullish trend has "heightened indecision in the market."

Despite healthy investor profitability, the magnitude of volume being processed and transferred on the Bitcoin network following the ATH has declined drastically," the report states 

Furthermore, Hedge Funds have reduced their Bitcoin market exposure to only 0.37 beta over the last 20 trading days. A beta value of 1 means a hedge fund's performance follows the value of Bitcoin, and a value below one indicates lower exposure and vulnerability to price.

Also read: Is the Bitcoin price bottom here?

"Crypto hedge funds have thrown in the towel on Bitcoin lately," ETC Head of Research André Dragosch stated on X.

André claims this is the lowest they have gone since December 2020. Notably, this coincides with the continuous outflows experienced within the last four days among Bitcoin ETFs, with $300 million in net outflows in these last two days.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement

Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.

More Cryptocurrencies News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.

More Bitcoin News
Can Maker break $1,450 hurdle as whales launch buying spree?

Can Maker break $1,450 hurdle as whales launch buying spree?

Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.

More Maker News
Gold shines in Q1 while Bitcoin stumbles

Gold shines in Q1 while Bitcoin stumbles

Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.

More Bitcoin News
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market

Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP