Bitcoin drops 49% from peak as whales buy 270,000 BTC

Bitcoin’s price has fallen to about $64,340, roughly 49 % below its all‑time high of $126,198. The Fear and Greed Index sits at 23, indicating extreme fear in the cryptocurrency market. In the past two weeks, large investors – dubbed “whales” – purchased roughly 270,000 BTC, valued at $16.7 billion, despite the downturn.

ETF inflows turned positive on July 3, with $221 million entering the market after ten days of outflows, suggesting some stabilization. Analysts warn of longer‑term risks, including potential attacks from future quantum computers and tighter EU regulations that could limit user privacy and self‑custody.

Standard Chartered projects Bitcoin could reach $100,000 by year‑end, though it also notes the possibility of a further decline to $25,000 before any recovery. Fidelity’s global‑macro director Jurrien Timmer points to his power‑law model, which places a strong support level near $58,000; Bitcoin is currently trading just above that at about $62,700, indicating an accumulation zone similar to levels seen in previous market lows of 2018 and 2022.