Bitcoin’s Sudden Slide – From Record Highs to the Bottom of the Pack
Friday’s tumble saw Bitcoin crash hard, flipping its recent record high over $123,000. Suddenly, the crypto‑world felt the punch of a massive sell‑off.
Galaxy Digital’s Mega Move
Galaxy Digital, one of the biggest wallets in the market, handed out about $1.5 billion in Bitcoins to exchanges in a blink‑fast burst of transfers. This leapt into the spotlight as traders worried that the selling could start a domino effect.
Why the Fear?
- Leverage traders might get squeezed, creating a sell‑side surge.
- Other cryptocurrencies followed suit, stacking losses on the sidelines.
- Risk appetite could dwindle as U.S. job‑market data kept the Federal Reserve eyes on tightening rates.
ETF Mnemonics – The Move to the Middle
While Bitcoin bled, U.S. ETFs are coming back in after three hard‑days of outflows. The inflows are bringing fresh green dollars back into the digital gold realm.
Ethereum’s ETFs, meanwhile, kept the edge-of-the-seat buzz alive, seeing consistent inflows that are making more investors tap the sign‑pedal.
White House’s Crypto Hand‑shake
Mark your calendars: The White House is set to drop its Crypto Policy Report on July 30. Triggered by a January executive order, the report will spell out how the government plans to hold Bitcoin publicly and lay out a clear regulatory roadmap.
Think of it as a friendly handshake between regulators and the crypto community—a move that could give sentiment a much-needed boost.
Corporate Hustle – Bitcoin Gets the Fortune 500 Attention
Strategy, a high‑profile firm, is stepping up its game by turning its $500 million preferred‑stock offering into a staggering $2.8 billion draw. The fresh cash is earmarked for a hefty layer of Bitcoin holdings, reflecting a trend where corporate treasuries are leaning into digital assets.
Bottom Line for Investors
- Watch for ETF inflows and upcoming policy clarity.
- Stay calm amid the tightening of the money supply and the looming corporate adoption.
- Keep an eye on the new economic data releases that could affect cash flow decisions.
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