$2B Bitcoin whale transfer, Stirs Market as US Starts Crypto Week
Market Pauses, News Explodes: Bitcoin Whale Awakens Amid Crypto Week Buzz
The crypto world was stunned this week by a massive Bitcoin whale transfer, just as the U.S. Congress prepares to launch a landmark Crypto Week. While Bitcoin prices remained stable around $109,000, two long-dormant wallets (untouched since 2011) suddenly transferred 20,000 BTC, now worth over $2.1 billion.
The timing couldn’t be more dramatic: with legal, political, and technological shifts all unfolding, the digital asset market seems poised for a pivotal summer.
Dormant Bitcoin Wallets Move $2B After 14 Years
In the early hours of July 4, two wallets—each holding 10,000 BTC—were reactivated after 14 years. Originally acquired in April 2011, when Bitcoin traded for just $0.78, these coins were worth a mere $15,600 at the time.
- Now: Total value ≈ $2.18 billion
- Growth: Over 140,000x increase
- Transaction status: Low-fee, anonymous transfers to new addresses
- Owner: Unknown
This Bitcoin whale transfer comes as technical analysts watch for a potential breakout above the $110,000 resistance level.
U.S. Congress Declares July 14 as “Crypto Week”
Adding more heat to the market, House Republican leaders in the U.S. Congress announced Crypto Week, starting July 14. Lawmakers will debate several major bills aimed at shaping the future of crypto in America:
- GENIUS Act: Regulates stablecoins with backing from Donald Trump
- Clarity Act: Defines roles for SEC and CFTC in crypto oversight
- Anti-CBDC Bill: Prohibits Federal Reserve from issuing a consumer-facing digital dollar
This move is seen as a critical step in the U.S. race to lead the global digital economy.
⚠️ FTX Recovery Fund to Block Payments in 49 Countries
Meanwhile, FTX’s bankruptcy team has stirred new controversy. The recovery fund may block payouts to users in 49 countries including China, Russia, and Pakistan, due to legal risks. Although these regions represent just 5% of claimants, China alone accounts for 82% of disputed claims by value.
A court hearing on this issue is set for July 22, with affected creditors given 45 days to object.
Bitcoin and Ethereum Options Market Poised for Volatility
📊 With volatility dipping in June, traders have piled into July contracts:
| Asset | Bullish Target | Bearish Target | Sentiment |
|---|---|---|---|
| Bitcoin | $130,000 | $100,000 | Neutral |
| Ethereum | $3,600 | $2,800 | Bullish |
Ethereum, in particular, is seeing optimism due to Robinhood’s tokenization plans and strong support around $3,000.
Read More: Dormant Bitcoin Wallets Come Back to Life: A Look at Their Impact
Tech Giants Push for Yuan Stablecoin in Hong Kong
Chinese firms JD.com and Ant Group are lobbying Beijing to approve a yuan-backed stablecoin in Hong Kong ahead of licensing rules in August. The goal: boost global adoption of the yuan and compete with USDT and USDC.
🔑 Key Takeaways
- 🐋 $2.1B Bitcoin whale transfer from 2011 wallets shocks the crypto community
- 🇺🇸 U.S. to hold Crypto Week with bills on stablecoins, CBDCs, and regulation
- 🧾 FTX to block payouts in 49 countries—mostly over legal uncertainties
- 📊 Options traders expect big moves in Bitcoin and Ethereum this July
- 🏦 China eyes yuan stablecoin in Hong Kong to challenge U.S. dominance
Final Thoughts
From billion-dollar Bitcoin moves to sweeping U.S. legislation, the crypto market is heating up on all fronts. Stay tuned for more updates and don’t forget to share your thoughts in the comments. Is this the start of a bullish breakout or a regulatory reckoning?
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