Bitcoin price retested the important resistance level at $65,000, driven by ongoing accumulation by whales and sharks and strong technicals.

Bitcoin (BTC) has entered a technical bull market after rising over 21% from its lowest level this month. According to Santiment, this price action has been largely fueled by increased accumulation by whales and sharks.

MicroStrategy, the largest corporate Bitcoin holder, has been at the forefront of these purchases. Earlier this month, the company bought coins worth $458 million, bringing its total holdings to 252,220. 

Institutional investors have also been increasing their Bitcoin purchases. Data shows that all funds have seen inflows for five consecutive days, with net inflows this month totaling over $600 million.

These gains have …