BTC makes it easier for whales to hold and integrate as new buyers intervene

07 July BTC makes it easier for whales to hold and integrate as new buyers intervene

Bitcoin remains locked into a tight integration range of $100,000 to $110,000 as market participants wait for a critical catalyst to determine their direction. The price measure continues to respect $109,590 at its January record high as a resistance, but draws consistent support from short-term holders realised prices (STH-RP) around $98,220 to $99,474. Despite the recent rebound from the $10,000 level, the broader trend has stagnated, and the current market setup reflects a delicate balance. While the pressure to earn profits has eased, the lack of sustained momentum suggests that buyers are hesitant too.

Importantly, the repeated market defense against STH-RP rises emphasizes ongoing structural strength. This important on-chain level has historically served as a pivot for continuing trends. That resilience over the last few weeks shows that the Bulls still retain control of the broader structure. The rising cost base reflects the ongoing accumulation by institutional players via ETFS that could provide a more durable foundation than previous cycles. However, the lack of follow-through at high ranges and recent drawdowns in overall interest and whale holdings highlight the growing attention, particularly among experienced market participants.

The US macroeconomic landscape is increasingly marked by indications of tension highlighting recent data highlighting labor markets that are losing momentum amid widespread economic headwinds. Payroll in June showed headline profits of 147,000 jobs, but nearly half of government jobs related to seasonal factors, private sector job creation weakened to its slowest pace in eight months. Sectors such as manufacturing and wholesale have swept employment and deprived them of increased long-term unemployment due to an overall decline in labor force participation.

Wage growth softened, average working hours reduced, and total working hours decreased. Manufacturing is also under pressure. ISM PMI has now fallen below the 50 mark for the fourth consecutive month, addressing supply chain bottlenecks and trade uncertainty, further clouding the prospects for recovery. Job openings have risen primarily in the role of low-wage leisure and hospitality, exposing lagging employment and a vulnerable foundation of labor demand. Against this backdrop, the Federal Reserve appears to be set to maintain stable rates in the short term, with markets focusing on the possibility that they will ease towards the end of the year.

In parallel, the cryptocurrency sector has grown institutional interests, along with developments in contrast to the tentative macroeconomic mood. SSK’s first Solana Staking ETF debut marked a milestone, pulling out a $33 million volume on its first day, offering staking yields of 5-7%, positioning Solana as a reliable player in the regulated capital market. Similarly, companies’ Bitcoin financial strategies are accelerating. Spain’s Banadi Coffee is pivoting dramatically from the cafe business to accumulate Bitcoin Holdings, aiming for a BTC exposure of 1 billion euros, but there are concerns about the company’s strategy considering the overall financial vulnerability. Meanwhile, Tokyo-based Metaplanet has strengthened its Bitcoin accumulation strategy, currently holding a total of 15,555 BTC following the latest purchase of 2,205 BTC, reaching 210,000 BTC by 2027, solidifying its role as a leading corporate Bitcoin holder in Asia. These cryptography movements highlight growing differences. While traditional markets have wrestled with uncertainty, digital assets are increasingly seen as a tool for yield, diversifying the Treasury and hedging inflation.