Cantor Fitzgerald is on the verge of a landmark Bitcoin acquisition, aiming to secure 30,000 BTC from Blockstream Capital through a strategic SPAC merger. This move positions Cantor as a
Brandon Lutnick's Cantor Fitzgerald is nearing a big Bitcoin acquisition through a SPAC merger, targeting 30,000 BTC from Blockstream Capital.
A single wallet that has sat untouched since 2011 jolted the market overnight, wiring 40,009 BTC—worth roughly $4.68 billion at prevailing prices—to New York‑based trading giant Galaxy Digital. The address had held 80,009 BTC in total and had never previously moved funds in the modern era. According to on‑chain sleuth Lookonchain, “the Bitcoin OG with 80,009 BTC ($9.46 B) has transferred 40,009 BTC ($4.68 B) to Galaxy Digital,” and Galaxy “has directly deposited 6,000 BTC ($706 M) into Binance and Bybit.” Bitcoin OG Whale Awakens The activity began late Monday evening (UTC). First, 9,000 BTC—about $1.06 billion—left the dormant wallet, followed an hour later by another 7,843 BTC ($927 million) Over the next five hours several smaller tranches arrived at Galaxy Digital’s custodial accounts before the decisive push that brought the running total to 40,009 BTC. Blockchain explorers show the coins originated from a bech32 address that first received block rewards in early 2011, when bitcoin changed hands for less than one US dollar. Related Reading: Bitcoin Price Trajectory To $155,000: Why No Major Dips Are Expected From Here Notably, Galaxy Digital operates one of the largest over‑the‑counter (OTC) desks in the industry and regularly intermediates block trades for institutions seeking to avoid slippage on public venues. The firm advertises “premier execution” and bespoke liquidity provisioning for trades that are too large for order‑book execution. On‑chain analysts therefore read the wallet’s choice of counterparty as a signal that the owner intends to liquidate at least part of the hoard discreetly rather than deploy it into DeFi or cold storage. Within hours of receiving the coins, Galaxy split 6,000 BTC between Binance and Bybit, the two venues that currently post the deepest spot‑BTC liquidity. Bitcoin had just printed an all‑time high of $123,153 on 14 July, buoyed by Washington’s “Crypto Week” legislative push. As the OG whale’s transactions hit public mempools, spot prices recoiled more than 6%, sliding from $123,000 to an intraday low near $115,700 before stabilising around $116,900 at press time. Related Reading: The Bitcoin Liquidity Supercycle Has Just Begun, Says Hedge Fund CEO With half of the stash now under Galaxy’s control and only a fraction confirmed as exchange deposits, traders are bracing for further transfers. If Galaxy executes an OTC cross, the impact could be muted; if the coins bleed into order books, bids at $112,000‑$115,000 will face a major test. US Inflation Data Dampens Sentiment However, today’s price drop can not solely be attributed to the OG whale’s doing; it coincided with the US Bureau of Labor Statistics’ June CPI print, which showed headline consumer prices rising 0.3 % month‑on‑month and 2.7 % year‑on‑year—up from 2.4 % in May—while core CPI ticked up 0.2 % on the month and 2.9 % on the year. The modest print pushed the dollar index above 95.5, and risk assets have been whipsawing ever since. “The price action on the dollar pretty much tells you everything you need to know about this CPI report—mixed and the market is trying to digest it and to figure out the direction today,” observed Daan Crypto Trades on X. At press time, BTC stood at $116,972. Featured image created with DALL.E, chart from TradingView.com
Bitcoin demonstrates resilience as it maintains an upward trajectory supported by robust market fundamentals. According to Matt Mena, a crypto research strategist at 21Shares, the current market dynamics reveal a
Bitcoin’s recent surge to new all-time highs is underpinned by a significant structural imbalance between soaring demand and dwindling supply, signaling resilience against major downturns. Despite reaching unprecedented price levels,
Bitcoin’s “structural imbalance” signals that it probably won’t experience a significant downturn in the near term, says 21Shares crypto research strategist Matt Mena.
Bitcoin price started a downside correction from the $123,200 zone. BTC is now trading below $120,000 and might find bids near the $115,500 zone. Bitcoin started a fresh decline from the new all-time high near $123,200. The price is trading below $120,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with resistance at $117,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $120,000 resistance zone. Bitcoin Price Corrects From New ATH Bitcoin price started a fresh increase after it cleared the $118,500 resistance zone. BTC gained pace for a move above the $120,000 and $122,000 resistance. The bulls even pumped the pair above the $123,000 zone. A new all-time high was formed at $123,140 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the upward move from the $108,636 swing low to the $123,140 high. Bitcoin is now trading below $120,500 and the 100 hourly Simple moving average . However, the price is holding the 50% Fib level of the upward move from the $108,636 swing low to the $123,140 high. Besides, there was a break above a bearish trend line with resistance at $117,300 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $118,500 level. The first key resistance is near the $120,000 level. The next resistance could be $122,000. A close above the $122,000 resistance might send the price further higher. In the stated case, the price could rise and test the $123,200 resistance level. Any more gains might send the price toward the $125,000 level. The main target could be $130,000. More Losses In BTC? If Bitcoin fails to rise above the $120,000 resistance zone, it could continue to move down. Immediate support is near the $115,850 level. The first major support is near the $115,500 level. The next support is now near the $114,150 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $115,500, followed by $114,150. Major Resistance Levels – $120,000 and $122,000.
Bitcoin trades below nearly five percent from Monday’s record peak and remained mostly stable after the second consecutive monthly rise in US consumer prices revived uncertainty over the Federal Reserve’s rate-cut timetable. The benchmark cryptocurrency was recently quoted around $116,800, down from the all-time high above $123,000 set 24 hours earlier. The June Consumer Price Index rose 0.3 percent on the month and 2.7 percent year on year, exactly matching the headline forecast but marking the fastest annual pace since February. Core CPI increased 0.2 percent on the month and 2.9 percent on the year, undershooting consensus by a tenth of a point on the monthly print but in line with the annual rate. Wall Street Journal’s Nick Timiraos wrote on X that the figures were “close to consensus” but “not as mild as May,” noting that “Core prices rose 0.23% in June… Headline prices rose 0.29%.” The data hardened the conviction of some analysts that the Fed will stay on hold. “We now have: 1) CPI inflation rising for 2-straight months to its highest since February 2025, 2) a ‘strong’ labor market beating expectations for 3-straight months, 3) new tariffs set to go live on August 1st. Fed Chair Powell is NOT cutting rates,” wrote macro newsletter The Kobeissi Letter. Christopher Inks of TX West Capital echoed that stance: “CPI data is giving the Fed reasons not to cut rates. CPI has risen two months in a row now.” Bitcoin And Crypto Tumble As Inflation Fires Up Still, some crypto-focused traders described the release as broadly balanced. “CPI coming in mostly according to estimates… Core a bit lower, CPI a bit higher. Not much going on here. As always, the more important thing is how the market reacts and digests the data today,” said Daan Crypto Trades. Andreas Steno Larsen, founder of Steno Research, argued that the mix of rising goods prices and moderating services inflation may be constructive for risk assets: “June CPI confirms our view: goods are quietly starting to reinflate, but disinflation in services and housing still dominates the overall picture… Ideal setup for a portfolio long tech/crypto, commodities, and reflation FX.” Others were less sanguine. “What do you know. Inflation still stuck. The Fed pause continues and the larps screaming for rate cuts everyday continue to look stupid… HIGHER FOR LONGER,” posted the chart-technician Charting Guy. Treasury markets reacted with a modest rally: the 10-year yield surged to 4.475 percent after the report, while the US dollar index shot above the 98.5 level. Interest-rate futures continue to price roughly 52 percent odds of the first Fed cut coming at the September meeting, according to CME FedWatch data. At press time, Bitcoin traded at $116,175.
A significant movement in the cryptocurrency market was observed when a long-dormant whale, holding approximately 80,000 BTC, transferred 10,000 BTC after 14 years of inactivity. This transaction, executed roughly nine
Mars Finance highlights insights from Altcoin Vector indicating a potential short-term peak in Bitcoin’s dominance. Concurrently, the ETH/BTC ratio has demonstrated a consistent upward trajectory, signaling robust relative strength and