Elon Musk’s SpaceX Wakes $153M Bitcoin Giant After 3-Year Crypto Hibernation
SpaceX shakes the crypto world as dormant Bitcoin stash worth $153 million suddenly moves—fueling speculation about Musk's next play.
The Sleeping Giant Awakens
A wallet linked to SpaceX just executed its first Bitcoin transaction since 2022, sending shockwaves through the market. The exact purpose remains unclear, but that won't stop traders from overanalyzing every satoshi.
Timing Is Everything
The move comes as Bitcoin flirts with key resistance levels—because nothing pumps a market like billionaire FOMO. Meanwhile, Wall Street analysts scramble to update their 'HODL' PowerPoint decks.
The Bottom Line
Whether this is strategic repositioning or just Musk trolling crypto Twitter again, one thing's certain: someone at Goldman Sachs just got promoted for predicting this three quarters too early.
Source: Arkham
Bitcoin Dips Amid Elon Musk’s SpaceX Wallet Transfer
Bitcoin (BTC) climbed to a new all-time high of $122,834 on July 14. The original cryptocurrency has since dipped to the $188,000 price level. BTC has faced a 0.6% correction in the last 24 hours. Despite the dip, the asset continues to trade in the green zone across other time frames. BTC is up 1.2% in the weekly charts, 9.1% in the 14-day charts, 15% over the previous month, and 75.6% since July 2024.
Bitcoin’s (BTC) price has seen a slight decline over the last few days. The dip could be due to investors booking profits after the asset climbed to a new peak. The Bitcoin (BTC) transfer from Elon Musk’s SpaceX may have spooked investors. However, the company has not shown any signs of selling its BTC holdings yet. Musk has been very vocal about his support for cryptocurrencies. Many of his business ventures have enabled crypto payments, especially Dogecoin (DOGE) and BTC.
BTC may continue its downtrend if investors keep booking profits. BTC’s rally over the last few months was likely due to increased institutional inflows into ETF-related products. The market could MOVE in any direction over the next few days.
BTC’s fear and greed index continues to hover in the “Greed” zone. This aspect could lead to another bullish leg for the asset.
