Bitcoin Sees Profit‑Taking As Lawmakers Gear Up For ‘Crypto Week’
2025-07-05 04:28:03
Main Idea
Bitcoin experiences profit-taking as dormant whales move large stakes and lawmakers prepare for 'Crypto Week', while the market remains near all-time highs.
Key Points
1. Bitcoin dipped below $109K, triggering dormant wallets to move 20,000 BTC ($2.18 billion), shaking market confidence.
2. Two addresses transferred 10,000 BTC each, originally bought for $0.78 in 2011, now worth over $1 billion, marking a 140,000× return.
3. Lawmakers are preparing 'Crypto Week' from July 14–18 to review three major bills related to digital assets and CBDCs.
4. Bitcoin is trading around $108,700, close to its recent all-time high of $112K, with spot-Bitcoin ETFs continuing to accumulate BTC.
5. The market remains volatile as political debates and regulatory developments could influence future price movements.
Description
Bitcoin dipped below the $109K mark on Friday, triggering a minor retreat in the wider digital assets market. Traders watched closely as two large BTC wallets—dormant for years—moved a combined 20,000 BTC , roughly $2.18 billion, in a single session. The flagship crypto is still up 85% over the past 12 months, but this sudden shift in supply briefly shook confidence. Dormant Whales Move Billion‑Dollar Stakes Based on reports from on‑chain tracker Lookonchain , one wallet that snapped up 10,000 B...
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