Smart money floods into Bitcoin

July 07, 2025

 

Reading time: 5 minutes

Bitcoin nears ATH as whales accumulate, corporate treasuries expand

Key points:

  • Bitcoin hovered near $109,400 amid strong whale accumulation and resistance at $109,500, just 2.3% below its all-time high.

  • Long-term holders showed signs of selling, while institutional buyers like Strategy and Metaplanet expanded corporate BTC reserves.

News - Bitcoin [BTC] traded just below $109,500 on Monday, approaching its all-time high of $111,980. Despite facing resistance at that level, bullish momentum was fueled by whale accumulation and rising interest from major corporate treasuries.

According to Glassnode data, wallets holding over 1,000 BTC shifted into strong accumulation mode in recent days, signaling institutional confidence. In contrast, smaller holders continued to reduce exposure, suggesting a redistribution of supply from retail to large investors.

However, not all signs pointed up. The “age consumed” metric revealed a spike in selling by long-term holders, the highest in over a year, indicating impatience among those awaiting a breakout. Still, Bitcoin's price remained relatively stable, with new address growth supporting overall sentiment.

Corporate giants double down on BTC - Institutional conviction was echoed in fresh treasury activity. Japan-based Metaplanet acquired 2,204 BTC worth $237 million, raising its holdings to 15,555 BTC, surpassing Tesla and becoming the fifth-largest corporate holder. The firm also reported a BTC Yield of 95.6% for Q2, reflecting share-value growth linked to its Bitcoin strategy.

Meanwhile, Strategy, the world’s top BTC holder, paused its weekly purchases for the first time since April. Still, it announced $14 billion in unrealized gains and launched a new $4.2 billion stock sale aimed at funding future BTC buys.

Treasury trend goes global - The corporate accumulation wave isn’t limited to the U.S. and Japan. Europe’s Blockchain Group raised its BTC holdings to 1,904 BTC following a $12.5 million purchase. The firm posted a 1,348% BTC Yield YTD, highlighting growing appetite among global firms leveraging capital raises to stockpile crypto.

Despite short-term resistance, Bitcoin’s outlook remains optimistic as institutional players deepen their bets and long-term adoption expands.

Musk’s ‘America Party’ to embrace Bitcoin, rejects fiat as “hopeless”

Key points:

  • Elon Musk announced his new “America Party” will adopt Bitcoin, calling fiat currency “hopeless” in a viral X post.

  • The move reignites his feud with Donald Trump and positions Bitcoin as a symbol of fiscal reform ahead of the 2026 U.S. midterms.

News - Elon Musk has officially confirmed that his newly announced political group, the America Party, will adopt Bitcoin as part of its platform. In response to a user on X asking if the party would support BTC, Musk replied, “Fiat is hopeless, so yes.”

The billionaire’s stance aligns with his longstanding, but often volatile, relationship with crypto. Tesla and SpaceX currently hold a combined total of nearly 19,800 BTC, valued at over $2.1 billion. Tesla ranks among the top publicly traded companies by Bitcoin treasury holdings.

Musk’s crypto endorsement follows his public fallout with Donald Trump over the controversial One Big Beautiful Bill, which Musk labeled a “disgusting abomination” that would add $3.3 trillion to national debt. The feud intensified after Musk claimed the bill undermined the Department of Government Efficiency (DOGE), a Trump-era project he helped design.

Bitcoin as political disruption - Musk said the America Party will initially target key House and Senate seats rather than fielding a presidential candidate, aiming to act as a political “tie-breaker.” Analysts believe this strategy could allow the party to influence fiscal policy debates without competing directly in the 2028 race.

Bitcoin advocates see the announcement as a milestone in crypto’s integration into mainstream politics. “BTC as fiscal reform isn’t new—but Musk giving it political teeth is,” said one observer.

Trump’s warning and market reactions - Trump dismissed the party as a “train wreck” and warned it could fracture the GOP vote. He also questioned Musk’s mental fitness, stating the billionaire had gone “off the rails.”

Meanwhile, analysts say Musk’s BTC endorsement may contribute to Bitcoin’s bullish momentum this week. With BTC trading just 2% below its all-time high, upcoming macro catalysts like tariff deadlines and “Crypto Week” in D.C. could amplify market moves.

Toncoin’s visa hype unravels: UAE denies staking scheme, price drops 6%

Key points:

  • Toncoin surged on reports that staking $100K in TON could secure a UAE Golden Visa, only to crash 6% after regulators denied the claim.

  • The UAE clarified that digital asset investments do not qualify for residency, casting doubt on TON Foundation’s announcement and triggering bearish technical signals.

News - Toncoin [TON] experienced a dramatic reversal this week after reports linking the token to UAE residency pathways were debunked by Emirati authorities. The price initially jumped over 12% to $3.05 on July 6 following claims by the TON Foundation that staking $100,000 in TON for three years plus a $35,000 fee would make holders eligible for a 10-year Golden Visa.

The buzz was amplified by reposts from crypto figures including Telegram CEO Pavel Durov. However, within 24 hours, the Federal Authority for Identity, Citizenship, Customs and Port Security, Securities and Commodities Authority, and VARA issued a joint statement denying any official link between TON staking and visa eligibility.

TON promptly dropped 6% to around $2.82, erasing most of its gains. UAE authorities emphasized that Golden Visas follow strict criteria involving talent, entrepreneurship, or traditional investments, not crypto staking. VARA also clarified that TON is not licensed or regulated in Dubai.

From viral promise to regulatory rejection - The controversy began when TON Foundation CEO Max Crown publicly promoted the program, promising fast-track approval, family inclusion, and smart contract-based staking as a crypto-native alternative to traditional residency routes. However, multiple blockchain executives, including CZ and analysts from Gearbox and Sigil, questioned the legitimacy and warned it may be a proxy application funnel rather than a recognized government partnership.

Community divided, momentum broken - Despite the sharp retracement, the TON Foundation has not retracted its announcement. Critics allege the campaign was misleading marketing, using staking as a utility sink to generate demand. CZ urged users to “trust but verify,” pointing out the lack of government listing on official visa criteria pages.

Bearish outlook takes hold - Technical indicators flipped negative as support at $2.80 came under pressure. The MACD histogram showed growing divergence, and the Balance of Power fell to -0.13, highlighting increasing sell pressure. If $2.80 fails, analysts project downside zones at $2.38 and $2.02, potentially invalidating TON’s recent breakout.

U.S. Secret Service becomes unexpected crypto powerhouse with $400M in seizures

Key points:

  • The U.S. Secret Service has quietly accumulated nearly $400 million in seized crypto, creating one of the world’s largest cold wallets.

  • With help from Coinbase and Tether, the agency recovered $225M in USDT and has trained officials in 60+ countries to fight digital asset fraud.

News - The U.S. Secret Service, long known for presidential protection, has emerged as a major player in crypto enforcement, amassing nearly $400 million in seized digital assets over the past decade. Rather than trading or investing, the agency’s holdings stem from an aggressive campaign targeting scams and cyberfraud through its Global Investigative Operations Center (GIOC).

The majority of the crypto sits in a cold storage wallet, isolated from online threats. These assets were seized in operations against romance scams, fake investment schemes, and extortion cases, many of which exploited victims via dating apps or deceptive websites. In one instance, an Idaho teenager was blackmailed into sending funds that investigators eventually traced to a Nigerian suspect arrested in the U.K.

Global training, local impact - To broaden its reach, the Secret Service has trained officials in over 60 countries, targeting jurisdictions with lax oversight or residency-for-sale programs. Kali Smith, the agency’s crypto strategy lead, emphasized that even week-long workshops have empowered law enforcement in regions previously unaware of the scale of crypto fraud.

A recent session in Bermuda showcased how blockchain analysis, open-source tools, and VPN tracing helped agents track stolen funds through thousands of wallet hops. According to Jamie Lam of the GIOC, romance-investment scams remain the most common tactic, with polished websites and fake profiles used to lure victims into sending crypto that ultimately vanishes.

Industry partnerships and rising threats - The Secret Service’s success is bolstered by coordination with platforms like Coinbase and Tether, who have aided in the freezing and recovery of illicit funds. One such effort led to the recovery of $225 million in USDT, marking one of the agency’s largest single seizures.

Yet crypto crime continues to evolve. Americans lost $9.3 billion to digital asset fraud in 2024 alone, over half of all internet crime losses. As scams grow more sophisticated, the Secret Service is not just seizing crypto, but setting the global standard for fighting it.

Did you know?

  • Argentina’s infamous $LIBRA memecoin scandal saw the token skyrocket from fractions of a cent to $5.20, only to crash 85% within an hour, wiping out over $250 million and landing President Milei in political hot water.

  • Arizona just approved a bill (HB 2749) to create a state-run Bitcoin and digital asset reserve fund, making it the first U.S. state to formally hold unclaimed crypto assets in their native form.

  • The European Commission recently adopted final MiCAR rules defining how stablecoin issuers must handle liquidity, transparency, and redemption, bringing the EU one step closer to full crypto regulation.

Top 3 coins of the day

Ethereum (ETH)

Key points:

  • At press time, Ethereum was trading at $2,577, reflecting a marginal 0.21% rise over the last 24 hours.

  • The Supertrend remained in a sell zone, while the RSI hovered near 55.7, indicating mildly bullish momentum.

What you should know:

ETH consolidated under $2,600 after its recent attempt to break past the $2,660 resistance failed to sustain. The Supertrend indicator flipped to a sell signal in late June, following a rejection near the $2,850 level. Although ETH rebounded from the sub-$2,300 zone in early July, the price stalled just below the Supertrend resistance line. Trading volume stayed relatively low, reflecting market hesitation. However, the RSI gradually climbed above the neutral 50 mark, suggesting a slight buildup in buying pressure. If bulls can push the price above $2,660 with volume support, a move toward $2,800 remains possible. Meanwhile, whales withdrew over 6,989 ETH ($17.5M) from Binance in the past three weeks, tightening exchange supply. Ethereum also saw renewed interest from institutions, with BBVA launching ETH services under MiCA and SharpLink Gaming becoming the first public company to adopt ETH as its treasury reserve. Momentum further aligns with a dip in Bitcoin dominance to 64.4%, fueling broader altcoin strength.

XRP (XRP)

Key points:

  • At press time, XRP was trading at $2.27, reflecting a modest 0.12% increase over the last 24 hours.

  • The Supertrend indicator remained bearish, while the MACD histogram flipped positive, signaling a potential shift in short-term momentum.

What you should know:

XRP hovered near the $2.27 mark after repeatedly testing the resistance zone just below $2.33. Although the Supertrend maintained a sell signal, the MACD histogram turned slightly positive for the first time in weeks, hinting at early signs of bullish divergence. The MACD line also nudged above the signal line, reinforcing a potential upward bias. The price remained range-bound through most of June, following the bearish flip of the Supertrend in late May. Despite a brief drop below $2.00 in mid-June, XRP quickly recovered and began forming higher lows, suggesting growing buyer interest. Meanwhile, Ripple’s recent U.S. banking license bid and speculation around a potential SEC appeal withdrawal have lifted investor sentiment. A 93% volume surge and institutional whale accumulation further fueled the short-term upside. If XRP closes above $2.33, a move toward $2.50–$2.60 could follow, especially with regulatory clarity and RLUSD stablecoin developments drawing fresh capital into the ecosystem.

Dogecoin (DOGE)

Key points:

  • At press time, Dogecoin was trading at $0.171, reflecting a slight 0.12% dip over the last 24 hours.

  • The price hovered near the upper Bollinger Band, while the CMF remained positive at 0.08, reflecting continued capital inflows.

What you should know:

DOGE traded close to the upper Bollinger Band after failing to sustain a breakout past the $0.176 level. This band had previously acted as dynamic resistance throughout late June and early July. Although price volatility remained moderate, the narrow contraction of the bands hinted at a possible upcoming expansion phase. Despite the slight price drop, the Chaikin Money Flow stayed above the zero line, indicating that buyers continued to dominate overall capital flows. Daily volume held steady, with minor spikes during short-lived rallies, though no major breakout volume has emerged yet. Sentiment was also lifted by Elon Musk’s July 7 announcement that his America Party now accepts Bitcoin, triggering speculative buying of DOGE. A 249% spike in social mentions and over $1.1B in volume accompanied the move. If DOGE closes above $0.176 with strong volume, it may rally toward the $0.185–$0.19 zone. Otherwise, a pullback toward $0.165 or even $0.153 support could follow.

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