Bitcoin Price holds nearly $ 113,000 today, about a week after reaching a new highlight of all the time over $ 126,000 as the market stabilizes from one of its most violent corrections this year.
The Bitcoin price for registration levels last week was run by renewed institutional demand, declining real dividends and growing adoption of “down -based trade” investors seeking protection against monetary expansion.
Recovering comes after a bruises that saw over $ 19 billion in geared positions wiped out, and more than 1.6 million traders forced to liquidate positions as the casserole marginal call is swept over exchanges.
Bitcoin slipped from 24-hour heights near $ 116,000 to about $ 110,000 overnight, as major movements on the chain of both the US government and blackrock caused speculation about potential institutional repositioning.
At the time of writing, Bitcoin is trading for $ 113,055.
According to Blockchain Analytics, the US government transferred 667.6 BTC earlier today – worth approx. $ 74.8 million – for a new wallet early Tuesday morning.
Also earlier today, the US government announced a seizure of 127,271 BTC worth approx. $ 14 billion from Chinese Emigree Chen Zhi and his Cambodia-based Prince Group Criminal Network. The defendants ran a global “pigbutching” crypto -fidus and laundered billions through shell companies, real estate and mining.
Chen faces charges of wire fraud and money laundering, while US and British authorities imposed coordinated sanctions on 146 units and individuals linked to the operation.
Bitcoin’s recent turbulence
The turbulence follows last week’s massive degradation event, the greatest in crypto history. Analysts noted that the $ 19 billion in liquidations reflected “a clearing of speculative profits” rather than broadly based sales. Financing rates fluctuated sharply negatively – the most bearish since the end of 2023 – suggesting an overgrowth of geared bets.
Data on the chain supports this interpretation. Long-term holders have been stable, while measurements such as coin days destroyed and used output percentage conditions show that most sales came from new participants who capitulated with a loss.
Despite volatility, Bitcoin’s basic strong. Hash -rate, transaction flow and active addresses continue to trend upwards, which emphasizes elastic network health.
Adding to the pressure has renewed merchant stresses – China Merchant Tensions weighed on risk assets. Peking’s restrictions on rare ground export prompted President Donald Trump to threaten a 100% duty on Chinese goods, driving stock and bitcoin slaves.