2 min read
Bitcoin (BTC) has surged more than 11% to reclaim the $65,000 level, offering relief to investors after a sharp sell-off that pushed prices below $60,000. The rebound comes as large institutions and crypto funds stepped in to buy the dip, viewing sub-$60K levels as an attractive entry point. At current rates, BTC to PKR stands near PKR 19.5 million, reflecting renewed market confidence.
Bitcoin briefly crashed to around $59,000, triggering over $1.1 billion in long liquidations and wiping out nearly $2.6 billion across the crypto market. The sell-off marked one of the largest liquidation events since late 2024 and pushed Bitcoin nearly 50% below its October 2025 all-time high of $126,000.
Despite the panic, buying pressure quickly returned.
One of the biggest signals of confidence came from Binance, whose SAFU insurance fund purchased 3,600 BTC worth nearly $250 million around the $65,000 level. Binance has already committed to converting $1 billion of SAFU reserves into Bitcoin, indicating long-term conviction.
Crypto hedge funds also increased exposure. According to Bitwise’s European research head André Dragosch, hedge fund Bitcoin exposure has reached its highest level in two years, suggesting professional investors are positioning for a recovery.
“This signals increasing Bitcoin market exposure by global crypto hedge funds,” Dragosch said.
Analysts say Bitcoin must hold the $58,000–$62,000 range, which aligns with the 200 day and 200 week moving averages historically strong support zones. Well-known trader Michael van de Poppe noted that the massive sell-off candle could signal short-term capitulation.
“If prices bounce from here, we could see a large recovery wick, which often follows these events,” he said.
With Bitcoin stabilizing above $65,000, BTC to PKR has also rebounded sharply, helping restore sentiment among Pakistani crypto investors. While volatility remains high, institutional dip buying suggests confidence in Bitcoin’s long-term outlook is still intact.
