A fresh wave of profit-taking from newly emerged Bitcoin whales has marked the third major distribution event of this bull run, according to CryptoQuant.
Strategy CEO Phong Le says the market still misunderstands and undervalues its Bitcoin play, as it posted $10 billion profit in the second quarter and plans to raise $4.2 billion to buy more.
BTC price weakness outpaces stocks on fresh US trade tariffs, and Bitcoin traders are split over the impact of the CME gap fill near $114,000.
In 2025, governments hold over 463,000 BTC, with the US and China leading, while countries like Bhutan, Iran and the UK quietly build strategic reserves.
Bitcoin tumbled to a three-week low near $114,000 as Trump’s tariff executive order triggered a stock and crypto sell-off.
Old Bitcoin being sold to new institutions is a sign of its “integration with the financial system,» Ryan McMillin, chief investment officer at Merkle Tree Capital told Cointelegraph.
The new vault seeks to put inactive Bitcoin holdings to work using a mix of yield strategies across decentralized, centralized and traditional finance.
White House digital assets chief Bo Hines confirmed strategic Bitcoin reserve plans remain active despite omission from a recent policy report.
Federal Reserve Chair Jerome Powell’s comments dampened hopes for a September rate cut, which could lead to a slower crypto bull run, one analyst speculates.
Bolivia has signed an agreement with El Salvador to promote crypto as an alternative to traditional currencies amid its ongoing economic crisis.