Trump Endorses $23B Bitcoin Boom as BTC Tumbles Below $116K—Will $110K Be the Next Stop?
Bitcoin's rollercoaster ride continues as former President Trump throws weight behind a $23 billion crypto initiative—just as BTC dips under $116K. Is this the calm before the storm, or a sign of deeper corrections ahead?
Trump's surprise backing sends shockwaves through markets. The timing couldn't be more ironic—while politicians play cheerleader, traders are left grappling with volatile price action. Classic Wall Street meets crypto chaos.
Technical indicators flash warning signs. With $116K breached, analysts eye $110K as the next critical support level. 'When the whales sneeze, retail catches cold,' quips one sardonic trader.
Will institutional money save the day? The $23B proposal suggests big players are still betting long—but in crypto, even 'sure things' have expiration dates. Remember when everyone thought NFTs were retirement plans?
SEC Launches Landmark Crypto Reforms
More good news for the bulls, SEC Chairman Paul Atkins announced sweeping reforms to define and disclose cryptocurrencies. At the America First Policy Institute, Atkins called this a “once in a generation” opportunity to simplify token classification and make tokenized securities more accessible.
This comes on the heels of the TRUMP crypto working group’s proposal for federal digital asset trading. With both political and regulatory backing, Bitcoin’s path to mainstream is getting clearer. Clarity will reduce institutional fear and increase adoption.
Whale Accumulation vs. $9B BTC Sell-Off
On-chain data reveals a tug-of-war between long-term holders and sudden large-scale sellers. According to Santiment, whales have acquired nearly 1% of the total BTC supply in just four months, including 30,000 BTC in the last 48 hours.
Meanwhile, a Satoshi-era whale offloaded 80,000 BTC (worth $9B) via Galaxy Digital, triggering short-term volatility.
Bitcoin Whales Bought 1% of Circulating BTC Supply in Past 4 Months
► https://t.co/aFoD71PL0A https://t.co/aFoD71PL0A
Still, most BTC holders remain profitable—glassnode estimates that 97% of Bitcoin supply sits above cost basis, a bullish metric. Whale activity has also spilled into other assets like Ethereum, Solana, PEPE, and WIF. In July, SharpLink Gaming invested $780M in ETH, doubling down on crypto diversification.
This combination of accumulation and profit-taking suggests a volatile but upward-biased Q3, with long-term conviction intact.
Bitcoin Breaks Support – Is $110K Next?
Bitcoin price action reflects the uncertainty. BTC/USD is at $115,775, below $116,872 horizontal support and the 50-SMA at $117,919. The triangle breakdown is confirmed by RSI at 33, and bearish momentum is in full swing.
- Recent candles are a spinning top followed by a big bearish engulfing candle.
- RSI divergence from price shows weakening bullishness
- Key support zones: $114,532, $112,726, $110,587
Technically, the failed triangle projects to $110,000 unless we see a quick bounce.
Bitcoin Hyper Presale Over $6M as Price Rise Nears
Bitcoin Hyper ($HYPER), the first Bitcoin-native Layer 2 powered by the Solana VIRTUAL Machine (SVM), has raised over $6 million in its public presale, with $6,098,717 out of a $7,004,929 target. The token is priced at $0.012475, with the next price tier expected to be announced soon.
Designed to merge Bitcoin’s security with Solana’s speed, Bitcoin Hyper enables fast, low-cost smart contracts, dApps, and meme coin creation, all with seamless BTC bridging. The project is audited by Consult and engineered for scalability, trust, and simplicity.
The golden cross of meme appeal and real utility has made Bitcoin Hyper a LAYER 2 contender to watch in 2025. With staking, a streamlined presale, and a full rollout expected by Q1, $HYPER is gaining serious traction.
