Pourquoi le prix du Bitcoin est-il inférieur à 66 000 dollars, malgré d'importants achats effectués par de grands investisseurs ?

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On February 27, Bitcoin
BTCUSD
was trading at $65,640, after failing to reclaim the $70K level two days ago. Its price is also below its 200-week exponential moving average (EMA) of $68,300, something that would trigger a historical additional bearish acceleration.

Source: X

Rise in Bitcoin bulk buys

As stated in its Q4, 2025 earnings report, fintech conglomerate Block Inc.
XYZ
acquired an extra 340BTC in that quarter, bringing its total holdings to 8,883 BTC and making it the 14th largest publicly traded holder of Bitcoin globally.
Meanwhile, the leading publicly traded holder of BTC, Strategy, just recently acquired 592 BTC, bringing its stash to a total of 717,722 BTC.

Institutionally, BlackRock led the recent $1.1 billion inflows to US spot Bitcoin ETFs, breaking a five-week outflow streak of $3.8 billion. More institutions are expected to join the crypto industry, following the implementation of the GENIUS Act.

Why is Bitcoin still showing negative price action?

Mid-term volatility in the crypto market is the product of new US import taxes and the US-Iran geopolitical tensions. Both have caused widespread capital rotation to safe havens like gold, which now trades at $5,250 per ounce (20% up since January 2026).

Heightened inflation in the US has raised expectations that the Federal Reserve will extend current interest rates, causing downward pressure on crypto assets.

Markets today recorded significant intraday volatility as $8.7 billion in Bitcoin and Ethereum options expired. Meanwhile, the “AI Scare Trade” has seen 50% of global venture capital redirected from cryptocurrencies to AI companies. The Jane Street alleged market manipulation saga has done little to help the market.

BTC price prediction

Historically, Bitcoin has always bottomed roughly 23 months after its last all-time high (ATH). Time is now due since its March 2024 ATH of $73K, suggesting future downward price action.

Kalshi prediction markets show an 85% chance that Bitcoin drops below $65,000, echoing current extreme fear market sentiment.
On the flip side, most analysts now propose an elongated cycle of BTC price appreciation, following a break in the coin’s traditional four-year boom-bust cycles.
source: https://www.tradingview.com/news/coinpedia:2e4bc8034094b:0-why-is-bitcoin-below-66-000-despite-massive-whale-purchases/