A $20.8 million buy wall appears at BTC $63,000 level, signaling that whales are starting to go long

Panic continues to spread in the crypto market. According to AiCoin data, the current Fear & Greed Index (FGI) has dropped to 12, entering the "Extreme Fear" zone. In the past 24 hours, total liquidations across the network have reached $4.46 billion, with long positions accounting for as much as $3.5 billion, nearly 78% of the total. However, as market sentiment approaches a freezing point, whale capital on-chain has begun to make counter-trend moves. On-chain data shows that a large BTC spot buy order of about $20.8 million was placed around $61,500. At the same time, additional buy walls worth millions of dollars have accumulated in the $51,000, $57,500, $58,500, and $60,300 regions, indicating that major funds are absorbing BTC in batches at lower price levels. Meanwhile, on Hyperliquid, the mysterious whale "Set 10 Big Goals First" took profit from previous shorts and then went long on BTC again; another address opened a bottom-fishing position with 1x leverage near $63,784. The market is seeing diverging signals of "panic selling" and "whale accumulation" happening simultaneously. In addition to BTC, funds are also continuously flowing into HYPE. Data shows that whale address 0xb5E4...Fc24e has been continuously buying 269,000 HYPE (worth about $19.6 million) using a 24-hour TWAP strategy. HYPE's current holdings have risen to the second-highest in the network, second only to BTC. On the technical side, short-term key levels to watch for BTC: • Support area: 63,000—62,500 USDT • Strong buy zone: 61,500 USDT • Upper resistance: 64,500 / 65,800 USDT If BTC can regain footing above 64,500 in the near term, market sentiment is expected to gradually recover; if it falls below 61,500, beware of further cascading liquidation risks. The market has now entered a high-volatility phase, so a lighter position and fast-paced trading strategy are more suitable in the short term, while avoiding the use of high leverage during major directional changes. Risk warning: The market is highly volatile. This article is for informational sharing only and does not constitute investment advice.