Bitcoin held up over the weekend and on Sunday reached a weekly high of 109,263 dollars. It is currently at the 107,000 level, with the 1 week ago level of 105,000 dollars showing a mild uptick.

This move is being driven by solid inflows from institutional investors and bullish momentum, and during the shortened week of profits trading in late June, the spot Bitcoin ETF recorded net inflows of 670 million dollars.

It can still be said that Bitcoin remains in a high price range.

Next is Ethereum, currently at 2,500 dollars and slightly higher than a week ago. It has had difficulty breaking through the 3,000-dollar barrier.

It has been in a range-bound market since May this year.

◯ Elon Musk's new party "American Party." Bitcoin supporter

Musk dismissed fiat currency as "desperate" and showed strong ideological support for decentralized digital currencies.

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When this new party's poll was conducted on X, more than 60% supported it. It is well known that Elon Musk has expressed concerns about the current government's large tax cuts, and including this, he says he supports Bitcoin because the value of fiat currencies may decline in the future.

Also on the 6th, Trump told reporters, "A third party has never succeeded, and while he enjoys it, I think it's ridiculous."

However, this exchange raises questions about whether Trump and Elon Musk are really at odds. Tax cuts were part of his campaign promises, and in this scenario, forming a new party could aim to lead America in a better direction beyond political interests, and Trump might even acknowledge that.

◯ Bitcoin whales move 80,000 BTC

A collection of BTC wallets that had been dormant since 2011 moved assets totaling about $8.6 billion, with 10,000 BTC moved to new addresses, stirring the crypto-focused X platform. The transfers involve 10,000 BTC moved to new addresses, raising questions about the intent of the transfers.

Large Bitcoin transfer: On July 4, 2025, after 14 years of dormancy, over 80,000 BTC, totaling about $8.7 billion, moved in a massive transfer. Two wallets that held 10,000 BTC each when BTC was $7,800 in 2011 are now worth $1.1 billion, marking an astonishing increase of 1,398,280%. Lookonchain identified six wallets holding 10,000 BTC each from the same organization when BTC price was $3.37 on May 4, 2011. Protos reported a test transfer of 10,000 BCH from the same group 14 hours earlier, increasing the risk of theft.

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A movement of over 1 trillion yen since 2011 has sparked controversy. Who are the people holding and moving BTC to this extent?

Within this content, there were BCH transactions, and there were voices suggesting Roger Ver. He is known as the Bitcoin god and is currently indicated by the U.S. government for long-term imprisonment. He is the father of Bitcoin Cash (BCH). When he previously commented on this, Elon Musk pointed out the serious crime of deliberately evading taxes by not paying them in the United States.

ARKHAM, a research firm, also suggested that moving Bitcoin to another wallet could be to enhance wallet security. Currently, Bitcoin addresses include SegWit formats, which are cheaper in fees and more secure than earlier Bitcoin addresses.

◯ Tom Lee says major financial institutions will buy ETH.

Prominent market strategist Tom Lee predicted that major banks such as Goldman Sachs and JPMorgan may adopt Ethereum (ETH) as the underlying infrastructure for stablecoin operations. He emphasized that banks buying ETH would be for more than speculative purposes, to ensure and maintain the safety of stablecoins, positioning Ethereum as indispensable for the future of banking. This move suggests changes in how financial institutions integrate blockchain tech, with Ethereum playing a central role in issuing stablecoins and security.

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Regarding stablecoins, news has emerged that large e-commerce players are considering adoption, and President Trump has stated this is an important matter.

It is also likely that the chain for issuing stablecoins will be Ethereum. In light of that, it wouldn't be surprising if financial institutions that hold Ethereum rise. He predicts Ethereum price could exceed ten thousand dollars because of this.

◯ SEC approves ETF composed of five cryptocurrency names

The U.S. Securities and Exchange Commission (SEC) has approved the listing of Grayscale's top-market-cap cryptocurrency investment trust as an ETF, the Grayscale Digital Large Cap Fund (GDLC).

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(This article has been published since 2016)

Cryptocurrency market analysis [July 8]