Bitcoin at a Crossroads: Potential Correction Looms Without Immediate Upside
On-chain analyst Willy Woo has issued a cautionary note about Bitcoin's near-term trajectory, warning of a potential prolonged correction phase unless the cryptocurrency regains upward momentum soon. As of July 2025, Bitcoin is showing concerning technical signals, with the Relative Strength Index (RSI) forming lower highs despite BTC's recent all-time price peaks. Woo emphasizes that Bitcoin needs to demonstrate strength in the coming week to avoid confirming negative divergence on weekly charts. This analysis comes at a critical juncture for the flagship cryptocurrency, whose fundamentals appear to be flashing warning signs according to Woo's proprietary data. Market participants are now closely watching whether Bitcoin can muster the necessary buying pressure to invalidate this bearish technical setup and continue its long-term bull market.
Bitcoin Faces Potential Long Correction Phase, Says Expert
On-chain analyst Willy Woo warns Bitcoin may enter a prolonged corrective phase unless upward momentum resumes imminently. The cryptocurrency shows troubling divergence between price action and technical indicators, with RSI forming lower highs against BTC's recent all-time peaks.
"Bitcoin must MOVE up next week to avoid weekly chart negative divergence," Woo stated via social media. His firm's data suggests BTC's fundamentals remain robust, but the asset appears overextended after its rapid ascent earlier this year.
The analysis challenges conventional four-year cycle assumptions, noting Bitcoin's price discovery increasingly correlates with global liquidity conditions rather than just halving events. This shift could redefine traditional crypto market paradigms.
Metaplanet Expands Bitcoin Holdings to 8,888 BTC, Nearing 2025 Target
Metaplanet, the Tokyo-based investment firm, has acquired an additional 1,088 bitcoin for approximately $117.3 million, bringing its total holdings to 8,888 BTC. The purchase, executed at an average price of $107,771 per Bitcoin, marks significant progress toward the company's goal of amassing 10,000 BTC by 2025. Metaplanet now holds nearly 89% of its target, reinforcing its position as Asia's largest corporate Bitcoin holder.
The firm's Bitcoin acquisition strategy, funded through zero-interest bonds, has yielded a 225.4% return year-to-date. CEO Simon Girovich highlighted the success of the approach, noting a 66.3% yield from April to June alone. Metaplanet's stock (3350.T) surged 2.34% to 1,092 yen following the announcement, capping a 155% monthly rally.
Elon Musk's 'Bitcoin-Style' XChat Fails to Impress Crypto and Tech Communities
Elon Musk unveiled XChat, a new messaging app built on Rust with Bitcoin-style encryption, but the announcement was met with skepticism. The crypto community questioned the technical merits of the claim, pointing out that Bitcoin transactions are signed, not encrypted. "Bitcoin primarily uses signatures, not encryption. This is like saying, we decided to run our rocket on water, since NASA uses Hydrogen and Oxygen," said Ian Miers, a computer science professor at the University of Maryland.
Market reaction was muted, with Bitcoin trading flat NEAR $105,000 after a 3% drop last week. The lack of enthusiasm underscores the gap between Musk's promotional language and the technical realities of blockchain security.
Silk Road Founder Ross Ulbricht Auctions Prison Items for $1.8M in Bitcoin
Ross Ulbricht, the convicted founder of the Silk Road darknet marketplace, has generated over $1.8 million worth of Bitcoin through an auction of personal artifacts on the Scarce City platform. The sale included pre-incarceration belongings and prison memorabilia, with his final inmate ID card fetching 5.5 BTC ($576,280) and a collaborative artwork selling for 1.01 BTC.
The auction mechanism required 1% bid collateral, with anti-sniping protocols ensuring fair participation. Ulbricht, recently pardoned by former President Trump, indicated a psychological break from his past: "I've left Arizona... I don't need the reminders."
Blockchain analysts uncovered additional financial dimensions to the story. Coinbase's Conor Grogan identified 430 BTC ($47 million) remaining dormant in Ulbricht-linked wallets, while Arkham Intelligence verified $9 million in Bitcoin holdings connected to Silk Road operations.
Metaplanet Boosts Bitcoin Stack to 8,888 BTC with $117M Buy
Metaplanet has deepened its commitment to Bitcoin, acquiring an additional 1,088 BTC for $117.3 million. The Tokyo-based firm now holds 8,888 BTC, solidifying its position among corporate Bitcoin accumulators.
The strategic purchase reflects growing institutional confidence in Bitcoin's long-term value proposition. Metaplanet's aggressive accumulation strategy mirrors early adopters like MicroStrategy, signaling a broader corporate shift toward digital assets as treasury reserves.
Bitcoin Exchange Reserves Hit All-Time Low Amid Surging Institutional Demand
Bitcoin's exchange reserves have plunged to a historic low below 2.6 million BTC, signaling tightening supply as institutional accumulation accelerates. The depletion coincides with Bitcoin's rally past $111,500, creating conditions for heightened volatility.
Institutional players dominate the demand side, with Strategy adding 7,390 BTC in May alone. Spot Bitcoin ETFs recorded $5.23 billion inflows, while corporate buyers like GameStop and Metaplanet expanded holdings. Even sovereign entities including the UAE and Pakistan are building positions, with US lawmakers debating national reserves.
Technical indicators show Bitcoin maintaining support above key moving averages, though the RSI at 52 suggests neutral momentum. Critical support lies at $106,000, with upside potential toward $110,000 if maintained. A breakdown could test $98,000 as markets brace for volatility.
