Bitcoin price rebounds 11% to $65K: Who is buying the dip?

Bitcoin (BTC) rebounded supra $65,000 connected Friday, up 11% from 15-month lows beneath $60,000, arsenic absorption shifted to organization dip buyers.

Key takeaways:

• Bitcoin dropped to %59,000 connected Thursday, liquidating implicit $1.1 cardinal successful BTC longs.

• Bitcoin yet sees investors who are consenting to “buy the dip” astatine prices dropped to sub-$60,000 levels.

• Traders person shifted their absorption to $58,000 arsenic the past enactment of defence for Bitcoin.

BTC/USD regular chart. Source: Cointelegraph/TradingView

Bitcoin wipes retired $1.1 cardinal longs connected driblet to $59,000

Bitcoin terms fell arsenic debased arsenic $60,000 connected Thursday, erasing 15 months of bullish gains arsenic investors accumulated much astatine little levels. 

This extended the driblet from its all-time precocious of $126,000 reached connected Oct. 6, 2025, to 50% and was accompanied by monolithic liquidations crossed the derivatives market.

Related: Big questions: Should you merchantability your Bitcoin for nickels for a 43% profit?

Data from monitoring assets CoinGlass showed crypto liquidations implicit 24 hours nearing $2.6 billion, with longs accounting for $2.15 billion. Bitcoin accounted for $1.1 cardinal successful agelong liquidations.

Crypto regular liquidations. Source: CoinGlass

Bitcoin dip-buyers yet emerge

Binance’s Secure Asset Fund for Users (SAFU), an security money established by Binance successful July 2018 to support users' assets, bought different 3,600 BTC worthy $250 cardinal astatine astir $65,000 per BTC.

Source: X/Binance

Last week, Binance announced its volition to convert $1 cardinal SAFU reserves into Bitcoin implicit the adjacent 30 days.

The archetypal batch of 1,315 BTC, worthy astir $100 million was bought earlier this week, leaving $565 cardinal much to beryllium converted.

Crypto hedge funds person besides been buying the dip, information from Bitwise shows.

The aggregate marketplace beta crossed each planetary crypto hedge funds deed its “highest level successful 2 years” arsenic Bitcoin weakened, European Head of Research astatine Bitwise André Dragosch said successful a Friday station connected X, adding:

“This signals expanding $BTC marketplace vulnerability by planetary crypto hedge funds.”

Global crypto hedge money beta. Source: Bitwise

Dragosch besides said that record ETF volumes amid mean nett outflows connected Thursday suggested that determination “were tons of dip buying” by US-based spot Bitcoin ETFs arsenic well.

Source: André Dragosch

200-week MA: Bitcoin’s past enactment of defense?

BTC’s swept lows beneath $60,000, leaving traders to question wherever Bitcoin is apt to find a bottom.

“$BTC is investigating the erstwhile rhythm highs, and bouncing somewhat truthful far,” said trader Jelle successful a Friday station connected X. 

According to Jelle, Bitcoin was required to clasp a cardinal country of involvement between $58,000 and $62,000 to debar a deeper correction.

“Time to spot if we commencement basing here, oregon if we conscionable rotation implicit again.” 

BTC/USD play chart. Source: Jelle

The $58,000 level coincides with the 200-day SMA, a cardinal enactment level for BTC price, according to MN Capital laminitis Michael van de Poppe.

Given that Thursday’s $10,000 driblet was the largest measurement candle connected record, the “assumption tin beryllium made that we deed the debased there, for now,” van de Poppe said, adding: 

“If prices tin rally up slightly, we're going to spot a ample wick. Like we ever spot with capitulation events.” 

BTC/USD play chart. Source: Michael van de Poppe

As Cointelegraph reported, Bitcoin’s request portion present sits supra $58,000, supported by historical transaction measurement and the 200-week moving average.