INSUBCONTINENT EXCLUSIVE:
Key takeaways:Despite $1 billion in spot BTC ETF inflows, Bitcoin fell 2.8% as the market digested a multibillion-dollar 2011-era wallet
transfer.US import tariffs and fiscal deficits are likely weighing on Bitcoin investor sentiment.Bitcoin (BTC) traded down to $107,400 on
Friday after facing a strong rejection near the $110,500 level on Thursday
The drop coincided with $1 billion in net inflows into spot Bitcoin exchange-traded funds (ETFs) over two days
Traders are now scrambling to justify the 2.8% pullback, despite BTC having hovered around $107,400 for most of the prior week.Spot Bitcoin
Source: CoinGlassThis decline could simply reflect profit-taking ahead of the weekend, particularly since Bitcoin was just 1.5% below its
Investors remain wary of the potential negative effects of a global trade war, especially after US President Donald Trump reaffirmed the
Wednesday deadline for increasing import tariffs.Some market participants argue that investors were alarmed after a long-dormant Bitcoin
wallet moved coins for the first time in years
It is reported that this entity once held over 200,000 BTC.Source: x/lookonchainAlthough concerns over a potential sale are valid, large
If the entity intended to sell, it would be counterproductive to move so many addresses at once, as that could draw attention and impact
This type of movement, in fact, decreases the likelihood of an immediate sale.Even in the case of an over-the-counter transaction, it seems
improbable that a buyer would absorb $4.3 billion in Bitcoin in a single tranche
For comparison, Strategy accumulated 17,075 BTC throughout June
Still, large wallet transfers often trigger FUD (Fear, Uncertainty and Doubt), which can put short-term pressure on prices.In May, addresses
dating back to 2013 transferred over 3,420 BTC
In November 2024, another wallet moved 2,000 BTC that had been untouched for 14 years
Similar events occurred in March 2024, with 1,000 BTC, and in November 2023, with another 6,500 BTC
Michael Hartnett, Chief Investment Strategist at Bank of America Global Research, reportedly advised investors to reduce exposure if the S&P
500 approaches 6,300.US gross federal debt, % of gross domestic product
in turn weigh on broader risk markets, including Bitcoin.At the same time, the Trump administration has reportedly begun sending notices to
hold the $110,000 level.This article is for general information purposes and is not intended to be and should not be taken as legal or
