Bitcoin News: Metaplanet Dismisses BTC Sell-Off Concerns

Bitcoin is trading near $63,500, down around 0.6% over the past 24 hours, as BTC continues to move within a tight range. The market is also weighing fresh speculation surrounding corporate Bitcoin treasury activity after a large transfer from Metaplanet triggered concerns about a possible sale.

The Japanese Bitcoin treasury firm transferred 5,014 BTC, worth roughly $322 million, between its custody wallets over a 24-hour period beginning Wednesday. The size of the transaction immediately fueled speculation that Metaplanet could be preparing to sell part of its Bitcoin reserves.

Metaplanet CEO Simon Gerovich quickly rejected the speculation, saying the transfer was a routine custody operation. He confirmed that the company had not sold any Bitcoin and continues to hold 43,000 BTC.

The transfer cost Metaplanet only about $8 in network fees, highlighting the low cost of moving hundreds of millions of dollars in Bitcoin directly on-chain without using exchange order books.

While the clarification removes concerns about a potential Metaplanet sell-off, it does not significantly alter Bitcoin’s broader market outlook. Macroeconomic developments remain a bigger factor for BTC, while investors are likely to continue monitoring the activity of other corporate Bitcoin holders.

Bitcoin News: Can BTC Reach a New High This Week?

Bitcoin’s recent trading around $63,770 suggests the market remains in a consolidation phase rather than following a strong directional trend. Trading volume has not increased enough to confirm a major breakout, indicating that investors may be waiting for a fresh catalyst.

The $63,373 level has become an important short-term support area. If BTC falls below this level, the cryptocurrency could face additional selling pressure and move toward lower support zones. On the other hand, reclaiming $64,000 with strong volume could improve momentum and put recent highs back in focus.

The bullish scenario would involve Bitcoin breaking decisively above $64,000, potentially attracting momentum buyers and forcing short sellers to close bearish positions.

In the base case, BTC could remain trapped between approximately $63,300 and $64,000 while traders assess corporate treasury developments and wait for new macroeconomic data.

A break below $63,373 would weaken the current setup and could expose Bitcoin to previously established support levels.

Prediction Markets See Higher Odds of Bitcoin Falling Below $40K

Elsewhere, prediction-market traders have significantly reduced their expectations for Bitcoin to return to $100,000 in 2026. Kalshi now assigns BTC only a 1.6% probability of reaching $100,000 or higher this year, down dramatically from the 91% probability recorded in January.

The outlook for Bitcoin reaching $90,000 has also deteriorated. The odds have fallen from 71% in early May to roughly 2.5%.

By comparison, traders see considerably higher chances of Bitcoin moving lower. Current pricing reflects a 20% probability of BTC falling below $45,000 and a 15% chance of dropping under $40,000.

Interest in Bitcoin price forecasts has increased as the cryptocurrency continues to struggle through an extended bearish period. Analyst Alessio Rastani has predicted that Bitcoin could eventually plunge to $20,000 by the end of 2027 before staging a sharp recovery.

Still, some market observers remain bullish. Bitwise Chief Investment Officer Matt Hougan has argued that Bitcoin’s ability to withstand negative developments, including Strategy’s BTC sales and delays surrounding the CLARITY Act, could indicate that the prolonged crypto winter is beginning to fade.