bitcoin

Crypto market falls sharply amid institutional selling and Ethereum crisis

The cryptocurrency market faced a significant correction on Thursday. A broad selloff dragged Bitcoin down 2.3% to around $117,241.

Ethereum fell over 6% to test key support near $3,515, while XRP plunged 17%, breaking below the crucial $3.00 level. Dogecoin suffered the most significant loss among major altcoins, crashing 18.5% amid heavy institutional liquidation.

Analysts attribute the decline to coordinated selling by institutional investors, worsened by a surge in Ethereum validator exits and ongoing macroeconomic uncertainty.

Bitcoin showed relative strength compared to other tokens, demonstrating its role as a haven amid market stress. Despite the pullback, bitcoin’s dominance increased as investors rotated away from riskier altcoins.

Ethereum’s challenges are acute, with over $2.3 billion worth of ETH awaiting unstaking amid the longest validator exit queue in 18 months. While some validators are exiting, many are entering the staking system, suggesting complex market dynamics rather than outright abandonment.

The sharp declines reflect a mix of large-scale liquidations, institutional portfolio rebalancing, and geopolitical pressures driving risk-off sentiment. Speculative assets like Dogecoin were hit hardest, highlighting the vulnerability of meme coins during downturns.

Despite short-term volatility, major financial firms remain bullish on Bitcoin, Ethereum, and XRP, citing technological adoption and regulatory progress as drivers for 2025 growth.

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Stocks gain but Bitcoin remains flat after Japan trade deal

US President Donald Trump revealed a new trade agreement with Japan, described as ‘perhaps the largest deal ever made,’ involving $550 billion of Japanese investment in the United States.

The deal aims to boost trade in automobiles and agricultural goods, and is expected to create hundreds of thousands of jobs.

Following the announcement, major US stock indices saw modest gains, with the S&P 500, Nasdaq, and Dow rising by 0.26%, 0.09%, and 0.42% respectively. In contrast, Bitcoin fell by 0.55%.

Despite the positive stock market response, the wider cryptocurrency market declined, with the Coinmarketcap Altcoin Season Index dropping from 56 to 46. Expectations for an ‘altcoin season’—when most top tokens outperform Bitcoin over three months—may have been premature.

Bitcoin itself showed little movement, remaining below $120,000 and losing just under 1% over the past week.

Market metrics reveal that Bitcoin’s 24-hour trading volume dropped 11.5% to $67.28 billion, while its market cap declined by 0.78% to $2.35 trillion. Bitcoin dominance increased slightly to 61.57%.

Futures open interest decreased marginally, and total liquidations over 24 hours amounted to $51.23 million, with long positions accounting for the majority of liquidations.

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Elon Musk’s firm consolidates $153 million in BTC

SpaceX has moved $153 million worth of Bitcoin for the first time since 2022, consolidating 1,308 BTC from 16 addresses into a single SegWit wallet, on-chain data reveals. The reason behind the move remains undisclosed.

The company, founded by Elon Musk, currently holds 8,285 BTC—worth nearly $989 million—according to bitcointreasuries.net. Its last Bitcoin transfer involved over 3,500 tokens sent to Coinbase. A SpaceX spokesperson declined to comment on the latest activity.

The transfer coincides with increased scrutiny of the firm’s government contracts, following a clash between Musk and Donald Trump. Despite speculation, SpaceX may not be selling its Bitcoin, as it is reportedly preparing a $1 billion share sale that could value the company at $400 billion.

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Bitcoin’s security under quantum threat

A leading cybersecurity expert has raised concerns that Bitcoin’s underlying cryptography could be broken within five years. David Carvalho, CEO of Naoris Protocol, warned that quantum computers could soon break the cryptography securing Bitcoin transactions.

He believes the threat could materialise sooner than most anticipate, urging immediate action.

Carvalho pointed to Shor’s algorithm as the core concern. Once sufficiently advanced quantum machines are deployed, they could crack Bitcoin’s defences in seconds.

Roughly 30% of all Bitcoin—around 6 to 7 million BTC—is currently held in wallets with exposed public keys, making them especially vulnerable.

He also referenced major breakthroughs in the field, including Microsoft’s Majorana chip and IBM’s planned release of a fault-tolerant quantum computer by 2029.

With over 100 quantum systems already active and thousands more expected by 2030, Carvalho advised investors to migrate funds to quantum-secure wallets and update their security protocols.

However, Adam Back, CEO of Blockstream and an early Bitcoin contributor, believes the technology is still decades away from posing a real threat. He did acknowledge that future advancements may force even early adopters to move their coins to quantum-resistant addresses.

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Trump Media holds $2 billion in Bitcoin assets

Trump Media and Technology Group, backed by $2.5 billion in funding, has acquired around $2 billion worth of Bitcoin as part of an investment plan announced earlier this year. The company behind Truth Social used stock sales and bonds to buy Bitcoin and plans to keep acquiring crypto assets as markets allow.

The announcement followed the US House of Representatives passing three cryptocurrency-related bills during what Republicans and Trump called ‘crypto week.’

Among these, the GENIUS stablecoin bill was signed into law, while two others related to crypto market structure and central bank digital currencies await Senate approval. Bitcoin’s price briefly surged to over $120,000 amid the legislative developments.

Trump’s family-backed crypto firm World Liberty Financial saw its stablecoin governance token more than double last week. Additionally, the president’s memecoin, Official Trump, rose about 10% during the same period, with Trump controlling 80% of its supply through affiliated companies.

In March, Trump signed an executive order proposing a Strategic Bitcoin Reserve and Digital Asset Stockpile for the US. While initially expected to hold seized crypto assets, advisers suggested alternative ideas like revaluing government gold certificates are under consideration.

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UK considers Bitcoin sale to plug budget gap

Chancellor Rachel Reeves is reportedly considering the sale of over £5 billion in seized Bitcoin to help reduce the UK’s growing fiscal deficit. The Treasury is under pressure to find alternative revenue sources amid soaring borrowing costs, high inflation, and sluggish growth.

The Bitcoin in question was mostly confiscated in 2018 during a crackdown on a Chinese Ponzi scheme. Since then, its value has risen dramatically, with initial holdings worth around £300 million now estimated at more than £5 billion.

The assets were linked to convicted money launderers, including Jian Wen, and are currently held by UK law enforcement.

While the sale could help avoid tax increases or spending cuts, critics warn of repeating past mistakes. Comparisons have already been drawn to Gordon Brown’s heavily criticised gold sales in the early 2000s, which resulted in billions in missed profits.

There are also unresolved legal concerns about returning funds to victims of the fraud.

Some observers argue the UK should consider holding the Bitcoin as a strategic reserve, in line with countries like El Salvador. Analysts note that the US also sold off seized Bitcoin from 2014 to 2021, missing out on a potential $21 billion gain.

If the UK follows through with the sale, many believe it could prove to be one of the most short-sighted fiscal moves in recent history.

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Satoshi Nakamoto becomes 11th richest person in the world

The pseudonymous creator of Bitcoin, Satoshi Nakamoto, is now wealthier than Microsoft co-founder Bill Gates and Dell founder Michael Dell, with an estimated fortune exceeding $130 billion.

The rise in net worth follows Bitcoin’s surge to new all-time highs, gaining over 14% in the past month.

Satoshi’s fortune, believed to stem from 1.1 million BTC mined during Bitcoin’s earliest days, puts him just $12 billion shy of surpassing Berkshire Hathaway’s Warren Buffett, who once infamously likened Bitcoin to ‘rat poison.’

If Bitcoin’s price climbs slightly above $128,000, Satoshi will overtake Buffett on the global wealth list.

While the exact identity of Satoshi remains unknown, theories have pointed to developers such as Hal Finney and Adam Back, as well as public figures like Elon Musk.

None have been confirmed, and the wallets linked to Satoshi have never moved any funds, fuelling speculation he may no longer be alive, or is committed to never selling.

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The CLARITY Act defines mature blockchain systems for US regulation

The CLARITY Act seeks to create a clear regulatory framework for digital assets in the US, introducing a ‘mature blockchain system‘ to distinguish commodities from securities.

According to the bill, a mature blockchain system must be free from control by any single person or group. It should also demonstrate decentralised governance, open participation, and transparent operations.

Using the Act’s criteria, an AI analysis conducted with ChatGPT assessed major blockchain networks’ governance models as of July 2025. Key factors considered included decentralisation of decision-making, validator independence, and whether any single entity retained upgrade control.

Based on this evaluation, networks like Bitcoin, Ethereum, Litecoin, Monero, Dogecoin, Tezos, and Cosmos qualify as mature under the proposed legislation.

Some prominent blockchains, such as Solana, Cardano, Polkadot, and BNB Chain, remain under varying levels of central control and do not meet the maturity requirements.

The AI-driven assessment relies solely on publicly available information and serves as a reasoned interpretation rather than a formal regulatory ruling. Experts stress that legal decisions require human oversight and must account for changes in blockchain governance.

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Bitcoin breaks $118,000 as altcoins rally

Bitcoin surged to $118,245 early today, marking a 1.1% increase over 24 hours and an 8.7% rise over the past week. Both institutional and retail investors have maintained a strong interest, supporting Bitcoin’s steady upward trend.

Ethereum followed closely, trading near $3,160 with a 5.9% daily gain and a 20.1% weekly increase. Network activity and capital inflows contributed to Ethereum’s robust performance.

XRP stood out with a 26% weekly gain, reaching $2.93 amid high trading volumes exceeding $6 billion in 24 hours.

Other notable altcoins such as Cardano, Dogecoin, and Solana also posted solid weekly gains between 6.8% and 25.2%. Meanwhile, TRON showed steady growth, supported by consistent trading activity. The Lido Staked Ether token mirrored Ethereum’s rise, reflecting growing demand for liquid staking.

Among smaller tokens, Seraph led daily gains with a 53.3% increase, followed closely by Mamo and Renzo. The market showed broad strength, with major cryptocurrencies driving renewed investor confidence and speculative interest.

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Countries build state-level Bitcoin reserves worldwide

Bitcoin is no longer the preserve of tech-savvy investors and crypto enthusiasts. As of mid-2025, more than 460,000 BTC — around 2.3% of the total supply — is held by governments worldwide, according to blockchain data and legal disclosures.

The shift has elevated Bitcoin’s role in global finance, making it a strategic asset for nation-states.

The United States leads the pack with nearly 200,000 BTC, acquired mainly through criminal seizures. Unlike previous administrations, President Trump’s government has moved to consolidate these funds under a federal Strategic Bitcoin Reserve.

China follows closely behind, having confiscated 190,000 BTC from the PlusToken scam, though the fate of much of that stash remains unclear.

Beyond the prominent players, countries like Bhutan have quietly amassed impressive reserves. Using hydropower for mining, Bhutan has reportedly gathered up to 13,000 BTC — worth over $1 billion — equating to more than a third of its GDP.

Meanwhile, the UK holds 61,000 BTC from a money-laundering case, Ukraine used Bitcoin donations during wartime, and Iran requires licensed miners to send their BTC directly to the central bank.

While some nations broadcast their Bitcoin strategy, others operate in silence. From El Salvador’s legal tender experiment to rumours of holdings in the UAE and Bulgaria, the landscape is varied and opaque. Still, one trend is clear: state-level Bitcoin adoption is no longer theoretical.

Governments are actively shaping the future of decentralised money — sometimes loudly, often quietly, but always strategically.

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