Key Notes
- Over $8.6B in dormant Bitcoin from 2011 all of a sudden moved, sparking fears of a historic hack.
- Bitcoin trades at $108K, struggling to interrupt resistance amid whale profit-taking and retail shopping for.
- Binance Futures Open Curiosity stalls at $11.5B, signaling potential exhaustion in bullish momentum.
Bitcoin is buying and selling at $108,053, down almost 1% within the final 24 hours after failing to interrupt above the recent high of $109,142.23 convincingly. With the cryptocurrency hovering simply 3.4% beneath its ATH, market individuals query the longevity of the bull cycle.
$8.6 Billion Awakening
Eight long-dormant Bitcoin wallets, untouched since 2011, collectively moved over $8.6 billion value of BTC. Every pockets held precisely 10,000 BTC, acquired initially at dirt-cheap costs between $0.78 and $3.37, representing a staggering 137,179x return.
A single entity moved $8.6 BILLION of BTC from 8 addresses prior to now day.
All the Bitcoin was moved into the unique wallets on both 2nd April or 4th Might 2011 and has been held for over 14 years.
At the moment, the Bitcoin is sitting in 8 new addresses and has not been… pic.twitter.com/nm53tVRzLJ
— Arkham (@arkham) July 4, 2025
What’s most regarding is the synchronized motion of those wallets, which hadn’t seen any exercise for over 14 years. The sudden reappearance left traders questioning if that is coordinated profit-taking or state-level asset mobilization.
Coinbase’s Head of Product, Conor Grogan, even hinted that the transactions could possibly be a results of a possible hack. The chief pointed to a suspicious Bitcoin Money (BCH) take a look at transaction performed simply hours earlier than the BTC transfers.
If true (once more, I am speculating on straws right here), this may be by far the most important heist in human historical past
— Conor (@jconorgrogan) July 4, 2025
Hackers typically use related strategies of probing to substantiate entry to personal keys earlier than making main strikes.
“If true… this may be by far the most important heist in human historical past,” Grogan posted on X.
Whereas Grogan’s idea provides additional perception into the irregular conduct, the truth that different BCH wallets tied to the identical entity stay untouched has additional fueled hypothesis.
Whale Exodus & Retail Inflow
According to analyst Amr Taha, the July market construction means that whales could also be exiting whereas retail traders pile in.
Entities holding over 10,000 BTC reportedly offloaded 12,000 BTC on July third alone, with the 1,000–10,000 BTC cohort promoting a further 14,000 BTC since June 30. This distribution sample typically marks an area high or mid-cycle cooling.
In the meantime, short-term holders, sometimes retail, have added 382,000 BTC to their portfolios in early July, signaling renewed optimism. Lengthy-term holders, nonetheless, are trimming their publicity, an indication of revenue reserving at present costs.
Additional, Binance Futures’ Open Curiosity has failed to interrupt the $11.5 billion resistance stage decisively, mirroring situations seen on June tenth. The lack to maintain momentum on derivatives markets highlights that bears are at play.
Technical Outlook: MACD, RSI, and Fibonacci Ranges
On the every day chart, Bitcoin’s MACD is in impartial territory — the sign and MACD traces are converging with no clear bullish crossover in sight, suggesting a pause in upward momentum.
In the meantime, the RSI is at 54, reflecting indecision. Neither overbought nor oversold, the RSI hints at a wait-and-watch temper amongst merchants.
BTC 1D Chart | Supply: TradingView
Extra critically, Bitcoin is attempting breakout over the 0.786 Fibonacci retracement stage ($107,964). The subsequent key Fibonacci goal lies at 1.618 ($118,185), and if bulls can reclaim momentum, a transfer towards $130K (2.618 stage) and even $150K (4.236) is conceivable.
Nevertheless, failure to carry above $107K might see Bitcoin revisit help close to $101K (0.382 stage) and even $98K (swing low).
If $107K holds and the macro backdrop remains favorable, bulls might but cost towards the $118K–$130K vary. But when sentiment deteriorates additional, particularly if the $8.6 billion switch is confirmed to be malicious, a pointy correction could possibly be imminent.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed info however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm info by yourself and seek the advice of with knowledgeable earlier than making any selections based mostly on this content material.
A crypto journalist with over 5 years of expertise within the business, Parth has labored with main media shops within the crypto and finance world, gathering expertise and experience within the house after surviving bear and bull markets through the years. Parth can also be an writer of 4 self-published books.
