Bitcoin Surges to $66K Amid Rumors of Institutional Selling

Bitcoin climbed past $66k on Wednesday, posting a 2.5% gain as traders speculated on the potential impact of institutional selling. Data from TradingView showed BTC/USD reaching $66,300 before consolidating near $65,500, with thin order books amplifying price swings.

Some claim contributed to BTC’s downward pressure during the 2025 market correction. The theory suggested a daily “10 a.m. price slam” by the firm drove persistent declines. Jane Street has denied any market manipulation, calling the claims “baseless” amid ongoing legal proceedings involving Terraform Labs.

Thin Liquidity Fuels Volatility

Traders pointed out that low liquidity across exchanges amplified Bitcoin’s moves. Analysts noted that overhead sell orders had been pulled ahead of key events, including the US President’s State of the Union address, leaving BTC more susceptible to price swings.

Short term resistance is identified near $66,000, with traders monitoring whether Bitcoin can maintain support and sustain further upward momentum.

Despite uncertainty, analysts continue to emphasize cautious optimism, highlighting that thin order books and concentrated liquidity can drive sharp but temporary price shifts. The market will likely remain sensitive to institutional activity and major news events in the coming sessions.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.