Bitcoin Whales Dump $2K in BTC After Near $66.5K Surge

Bitcoin's recent rally to nearly $66,500 was abruptly halted by large order book players, wiping out the gains and pushing the price down by $2,000. Trading resource Material Indicators blames whales for spoofing bids in the order book, claiming that a buy wall at $60,000 was pulled shortly after the market opened and another buy wall at $66,000 disappeared just 45 minutes later. CoinGlass confirms that an area around $64,250 has become the new focal point for liquidity. Meanwhile, the movement of confiscated BTC by the German government sparked debate amongst traders, with some hoping that history will repeat itself and lead to a local bottom. CoinGlass data shows both long and short BTC positions experiencing liquidation, with shorts currently on the losing end. Despite mixed signals from recent US macro data, the crypto market continues to exhibit sensitivity to employment data prints, which are closely tied to Federal Reserve liquidity conditions.