Bitcoin News: Metaplanet CEO Quashes BTC Sale Speculation
Bitcoin is trading near $63,500, slipping about 0.6% over the last 24 hours as the market continues to consolidate within a narrow range. Investor attention has shifted to corporate Bitcoin treasury activity after a large Metaplanet transfer sparked speculation that the company could be selling its BTC.
Metaplanet, the Japanese Bitcoin treasury firm, transferred 5,014 BTC worth approximately $322 million between custodial wallets over a 24-hour period beginning Wednesday. The sizable movement immediately prompted speculation that the company was preparing to reduce its Bitcoin holdings.
Metaplanet CEO Simon Gerovich dismissed those concerns, describing the transaction as a routine custody transfer. He confirmed that the company had not sold any Bitcoin and continues to hold 43,000 BTC.
The transaction cost roughly $8 in network fees, underscoring how large Bitcoin transfers can be completed on-chain at minimal expense without involving exchange order books.
The clarification removes concerns surrounding Metaplanet’s recent wallet activity, but it does not change Bitcoin’s broader market dynamics. Macroeconomic developments remain a key factor for BTC’s direction, while traders are likely to keep tracking wallet movements from other corporate Bitcoin holders.
Bitcoin Price Outlook: Can BTC Reclaim $64K?
Bitcoin’s recent trading around $63,770 suggests the market is still consolidating rather than establishing a decisive trend. Trading activity has remained relatively subdued, indicating that investors may be waiting for a catalyst before making a major move.
The $63,373 area has become an important short-term support level. A break beneath that zone could increase downside pressure and expose Bitcoin to lower support levels. Meanwhile, reclaiming $64,000 with stronger volume could improve market momentum and bring recent highs back into focus.
A bullish breakout above $64,000 could attract momentum buyers and force traders holding short positions to cover, potentially accelerating Bitcoin’s advance.
If the market remains balanced, BTC could continue fluctuating between roughly $63,300 and $64,000 as investors assess corporate treasury developments and wait for upcoming macroeconomic signals.
A sustained move below $63,373 would weaken the current technical setup and could send Bitcoin toward previously established support zones.
Prediction Markets Turn More Bearish on Bitcoin
Bitcoin prediction markets are also showing significantly weaker expectations for a return to $100,000 this year. Kalshi currently estimates only a 1.6% probability that BTC reaches $100,000 or higher in 2026, compared with a 91% probability in January.
The chances of Bitcoin reaching $90,000 have fallen just as sharply, dropping from 71% in early May to around 2.5%.
In contrast, traders are assigning greater odds to a deeper correction. Current market pricing indicates a 20% chance of Bitcoin falling below $45,000 and a 15% probability of a decline beneath $40,000.
The heightened interest in Bitcoin forecasts comes as the cryptocurrency struggles through an extended period of weakness. Analyst Alessio Rastani has predicted that BTC could eventually fall to $20,000 by the end of 2027 before mounting a strong recovery.
Still, some analysts remain optimistic. Bitwise Chief Investment Officer Matt Hougan has argued that Bitcoin’s ability to absorb negative developments, including Strategy’s BTC sales and delays surrounding the CLARITY Act, may indicate that the prolonged crypto downturn is nearing its end.
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