Bitcoin price falls to $107K despite $1B spot BTC ETF inflow: What’s behind the move?

6 hours ago

Key takeaways:

Despite $1 cardinal successful spot BTC ETF inflows, Bitcoin fell 2.8% arsenic the marketplace digested a multibillion-dollar 2011-era wallet transfer.
US import tariffs and fiscal deficits are apt weighing connected Bitcoin capitalist sentiment.

Bitcoin (BTC) traded down to $107,400 connected Friday aft facing a beardown rejection adjacent the $110,500 level connected Thursday. The driblet coincided with $1 cardinal successful nett inflows into spot Bitcoin exchange-traded funds (ETFs) implicit 2 days. Traders are present scrambling to warrant the 2.8% pullback, contempt BTC having hovered astir $107,400 for astir of the anterior week.

This diminution could simply bespeak profit-taking up of the weekend, peculiarly since Bitcoin was conscionable 1.5% beneath its all-time high. Investors stay wary of the imaginable antagonistic effects of a planetary commercialized war, particularly aft United States President Donald Trump reaffirmed the July 9 deadline for expanding import tariffs.

Dormant Bitcoin wallet spooks the marketplace by moving 80,000 BTC

Some marketplace participants reason that investors were alarmed aft a long-dormant Bitcoin wallet moved coins for the archetypal clip successful years. Onchain analysts speculate that a miner from 2011 was down Friday’s transfer of 80,009 BTC. It is reported that this entity erstwhile held implicit 200,000 BTC.

Although concerns implicit a imaginable merchantability are valid, ample holders moving dormant coins isn’t unusual. If the entity intended to sell, it would beryllium counterproductive to determination truthful galore addresses astatine once, arsenic that could gully attraction and interaction pricing. This benignant of movement, successful fact, decreases the likelihood of an contiguous sale.

Even successful the lawsuit of an over-the-counter transaction, it seems improbable that a purchaser would sorb $4.3 cardinal successful Bitcoin successful a azygous tranche. For comparison, Strategy accumulated 17,075 BTC passim June. Still, ample wallet transfers often trigger FUD, which tin enactment short-term unit connected prices.

In May 2025, addresses dating backmost to 2013 transferred implicit 3,420 BTC. In November 2024, different wallet moved 2,000 BTC that had been untouched for 14 years. Similar events occurred successful March 2024, with 1,000 BTC, and successful November 2023, with another 6,500 BTC. These isolated movements person not historically correlated with semipermanent inclination reversals.

Bitcoin’s astir apt crushed for its caller weakness reflects mounting macroeconomic concerns. Michael Hartnett, Chief Investment Strategist astatine Bank of America Global Research, reportedly advised investors to trim vulnerability if the S&P 500 approaches 6,300.

As Bloomberg reported, Hartnett’s squad observed that “bubble risks were rising” pursuing the US government’s support of “a $3.4 trillion fiscal bundle that cuts taxes.” The worsening fiscal outlook whitethorn dampen request for long-term authorities bonds, which could successful crook measurement connected broader hazard markets, including Bitcoin.

At the aforesaid time, the Trump medication has reportedly begun sending notices to different nations “setting unilateral tariff rates” if commercialized deals are not reached earlier adjacent Wednesday’s deadline. This economical uncertainty, alternatively than immoderate circumstantial crypto-related factor, offers a much convincing mentation for Bitcoin’s inability to clasp the $110,000 level.

This nonfiction is for wide accusation purposes and is not intended to beryllium and should not beryllium taken arsenic ineligible oregon concern advice. The views, thoughts, and opinions expressed present are the author’s unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.

View source