Bitcoin Activity Surges with Unexpected Wallet Movements and Steady Prices

In the first week of July 2025, the cryptocurrency market remains relatively quiet, providing a period of consolidation following the turmoil of May and June. Market activity has been minimal, with public interest shifting towards unusual events, notably a dormant Bitcoin wallet suddenly active after 14 years, moving $8.7 billion for reasons that are still unclear. Over the past week, the total market capitalization of cryptocurrencies increased by approximately $34 billion, rising from about $3,341 billion to $3,375 billion. Bitcoin (BTC) hovered around $108,000. This period is characterized by calm in the major cryptocurrencies. Significant recent price fluctuations occurred around June 23–24, when BTC dropped to $98,000 before surging past $105,000 amid escalating conflicts in the Middle East. Since then, BTC has traded within a narrow range between $105,000 and $110,000. It dipped slightly on Wednesday, but buyers stepped in to push the price back to the middle range. On Thursday, BTC attempted a breakthrough, reaching a weekly high of $110,500. However, sellers quickly countered, preventing a new all-time high. Overall, the market has remained relatively stable, with BTC oscillating around $108,000 in recent days. Highlighting notable news, Lookonchain reports that eight long-dormant BTC wallets suddenly became active after over 14 years. These wallets are believed to belong to a pioneer or "Bitcoin OG" who purchased a total of 80,009 BTC in 2011, when Bitcoin traded between $0.78 and $3.37, meaning they held less than $220,000 then. Today, that amount is worth approximately $8.7 billion. Interestingly, around 40,000 BTC (~$4.35 billion) have been transferred to new addresses, sparking speculation within the crypto community about the intent behind these sudden movements. Major institutional accumulation continues: - Strategy: $532 million - Metaplanet: $108 million - SharpLink Gaming: $22.8 million - Nano Labs: $50 million Additionally, large companies are launching new funds to buy cryptocurrencies: - BitMine: $250 million - DDC Enterprise: $528 million - Bit Digital: $163 million Market sentiment indicators show that Bitcoin’s fear and greed index stands at 73 — indicating greed, up from 66 earlier in the week. The overall market cap excluding Bitcoin now stands at about $1,153 billion. Market distribution: Bitcoin accounts for 64.5% and Ethereum 9.2% of total crypto market capitalization. See you next week!