Bitcoin surges past $64,000 on short squeeze as crypto market shows mixed moves

Bitcoin briefly broke the $64,000 level after a short‑squeeze triggered about $165 million in liquidations. Despite the rally, the 30‑day net flow for Bitcoin funds remained deeply negative, with $4.73 billion withdrawn. Whale activity added pressure, with purchases of roughly 270,000 BTC worth $16.7 billion, while U.S. spot Bitcoin ETFs recorded their worst month since launch, seeing $4.5 billion of outflows. Market sentiment is further shaped by upcoming Federal Reserve policy decisions and pending German legislation that could end the crypto‑tax privilege from 2027, imposing a 26.375 % withholding tax.

In the broader crypto market, Bitcoin slipped 0.08 % to $63,813, while Ethereum edged up 0.40 % to about $1,800, testing a key psychological barrier. A newly disclosed security flaw in the Ethereum network was patched, and the Ethereum Foundation highlighted AI‑driven vulnerability detection. Ripple continued to decline, falling 0.69 % to $1.09. Overall, the market remains volatile, with the Fear‑and‑Greed Index indicating extreme fear.

Analysts note that the short‑term Bitcoin rally may be short‑lived unless whale buying outweighs ETF outflows, and that upcoming Fed decisions and German tax reforms could influence future price dynamics.