- Bitcoin price dropped 2.8 percent to $107400 despite $1 billion in ETF inflows, likely due to profit taking and economic fears.
- A 2011 Bitcoin wallet moved 80009 BTC, sparking market unease, but such moves rarely cause lasting price drops.
- US tariffs and a $3.4 trillion spending plan are weighing on the Bitcoin price more than crypto specific factors.
Bitcoin Price Dips Despite ETF Money Pouring In
The Bitcoin price took a tumble to $107400, dropping 2.8 percent, even as spot Bitcoin ETFs raked in a cool $1 billion over two days.
This slide happened right after Bitcoin hit a snag around $110500, leaving traders wondering what’s going on.
Some people reckon it’s just investors pocketing gains before the weekend, especially since Bitcoin was only 1.5 percent off its all time high. But it seems like bigger economic worries are stealing the show.
Old Wallets Stir Nerves But Economy Weighs Heavier
A big hype came from an old Bitcoin wallet, untouched since 2011, moving 80009 BTC, probably tied to an early miner. Stuff like this spooks the market, kicking up fear and doubt that can nudge the Bitcoin price down for a bit.
Thing is, if someone wanted to sell that much, they’d likely keep it quiet to avoid tanking the price. We’ve seen this before, like 3420 BTC moving in May or 2000 BTC last November, and those didn’t wreck the market for long.What’s really dragging on Bitcoin, though, is the economic vibe.
The US just okayed a whopping $3.4 trillion spending plan, and with Trump’s crew pushing new import tariffs, people are jittery about the country’s financial health. That could make government bonds less attractive, which often hits riskier assets like Bitcoin.
Bank of America’s Michael Hartnett also flagged “bubble risks” in stocks as the S&P 500 nears 6300, adding to the uneasy mood. So while that old wallet’s move got some attention, it’s probably the economic headwinds like trade tensions and big deficits that are holding the Bitcoin price back.
Even with all that ETF cash flowing in, these bigger concerns are making investors hesitant, keeping Bitcoin from breaking past its recent highs for now.
Also Read: Bitcoin Hits $106K as Middle East Calms and Rate Cut Hopes Grow
