đ Bitcoin Tests Nerves as Correction Looms, Institutions Keep Buying
Profit-taking shakes markets, but treasuries, ETFs, and sovereign funds continue stacking hard.
Welcome to another fun packed week in the world of Bitcoin and other crypto assets. Do you think weâve reached the top? Leave me a comment to let me know or just leave a hi to let me know you read :)
"Hype erodes. Quality persists." â James Clear
Bitcoin Price Action
Bitcoinâs relentless seven-week uptrend is showing cracks. After touching new all-time highs, the asset slipped 6% below $115K as profit-taking swept markets, triggering over $300M in liquidations. Analysts warn that multiple technical signals, combined with whale activity, suggest risks of a deeper correction that could drive BTC below $100K in the coming weeks. Still, history was made as Bitcoinâs 200-day moving average crossed above $100K for the first time ever, cementing long-term bullish structure. Big-picture context keeps optimism alive: Bitcoin remains just 0.2% of global assets compared to goldâs 2.2% and real estateâs 37%âleaving immense room for growth. Meanwhile, speculation swirls that Michael Saylorâs MicroStrategy (Strategy) could join the S&P 500 by September, which would bring passive Bitcoin exposure to trillions in institutional portfolios.
Bitcoin Mining
Mining continues to deliver dramatic headlines. A solo Bitcoin miner pulled off a modern-day lottery win, solving a block worth $350K. More broadly, July brought a 2% rise in mining profitability, supported by BTCâs price rally, according to Jefferies.
Strategic Reserve
El Salvador quietly added another Bitcoin to its reserves, bringing its national stash to 6,271 BTC, a reminder of the countryâs steady accumulation strategy.
Corporate Treasury
Bitcoinâs adoption as a treasury asset is intensifying. Thirty-five public companies now hold over 1,000 BTC, solidifying its place as a corporate balance sheet standard. Saylor confirmed Strategy will buy the dip, while Japanâs Metaplanet added 775 BTC, growing assets to 18x its debt load. Trumpâs WLF also scooped up another $10M in BTC, and Adam Backâs $2.1B treasury play positions his firm to challenge mining giant MARA in holdings. Bullish, backed by Peter Thiel, now boasts 24,000 BTCâmaking it the fifth-largest corporate treasury. New entrants keep stacking: Taiwan-listed WiseLink embraced a Bitcoin strategy, and Dutch firm Amdax plans to list a Bitcoin treasury on Euronext Amsterdam.
Still, not all corporates are piling in. A Bank of America survey shows big money remains cautious on crypto. Meanwhile, Ethereumâs supply is tightening as treasuries add ETH positions, highlighted by Tom Leeâs BitMine Immersion buying 135,135 ETH worth $600M within hours.
Ethereum
Ethereum is quietly putting in one of its best third quarters ever. Institutions seized the dip with nearly $900M in new ETH buys, fueling optimism even as billions in unstaked ETH could add sell pressure. Analysts warn of $2B in potential liquidations around $4.2K, but sentiment remains bullish as ETH rides Bitcoinâs gravitational pull.
Altcoins
Rotation may be underway. Coinbase says market signals suggest a full-scale altcoin season heading into September. XRP is flashing bullish patterns, with some analysts eyeing a breakout to $4 and new all-time highs.
Crypto Flows
Flows remain strong: crypto investment products saw $3.75B in inflows last week, led by BlackRock and Ethereum demand. Institutions continue to deepen their exposure.
ETFs & Institutions
ETF momentum is accelerating. Brevan Howard, Goldman Sachs, and even Harvard joined the latest Bitcoin ETF buying spree. Norwayâs sovereign wealth fund boosted BTC exposure by 83% in Q2, signaling sovereign-level adoption. Grayscale filed to convert its Dogecoin Trust into a spot ETF, with approval odds at 75% in 2025. And in a global expansion milestone, BlackRock launched its Bitcoin ETP on Switzerlandâs SIX exchange.
Voices
Wall Street and Bitcoin heavyweights are sounding off. BlackRockâs Rick Rieder declared this the âbest investment environment ever,â while Bitwise CIO Matt Hougan argued Bitcoin still has a 10x before mainstream saturation. Canaryâs Steven McClurg sees BTC hitting $150K this year, though heâs skeptical of Ethereumâs rally. Michael Saylor reinforced his call: the next 10 years are the last chance to stack BTC before supply is gone. Joe Rogan mused on Bitcoin becoming the only money worth anything, while Cathie Wood projected a potential 15x over the next decade. Max Keiser pushed the envelope further with a $2.2M 2025 price prediction. And Senator Cynthia Lummis suggested the U.S. could revalue gold and build strategic Bitcoin reserves, pushing the idea of a Bitcoin standard closer to reality.
â Takeaway: Momentum is colliding with caution. Technical risks point to near-term volatility, but corporate treasuries, ETFs, and sovereign wealth funds keep cementing Bitcoinâs structural adoption. Ethereum and altcoins are entering the rotation spotlight, while heavyweight voices continue to fan the flames of the long-term Bitcoin thesis.
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