Elon ‘The Dogefather’ Musk has stunned the crypto sphere with a few blockchain-related tweets, while his SpaceX enterprise just made their first BTC move in three years. Blockchain intelligence specialists at Arkham Intelligence were the first ones to identify this massive transaction, processed to a brand new crypto wallet.
This sums up the current SpaceX Bitcoin holdings to a whopping 6,977 Bitcoins (BTC) across all company-linked crypto wallets, even after this outgoing transaction, worth around $153M. Cumulatively, SpaceX still owns $823 million worth of the flagship digital asset, so the likelihood of this being a sell-off is low – the BTC inside the new wallet remains unotouched.
Bitcoin’s Price Not Afraid Of Profit Taking?
Bitcoin, renowned as digital gold, is starting to live up to its name literally. While Bitcoin’s (BTC) price smashed the all-time record numerous times in July, it could get even hotter. Crypto & stock market observers are starting to point out the price correlation between gold & Bitcoin.
This means both equities are treated as long-term investment vehicles, even though the digital gold is significantly outperforming the traditional one. Indeed, Bitcoin’s (BTC) price rally to $122K has pushed the top crypto into new boundaries.
After a 3.6% market correction, Bitcoin stabilized ≈118K amidst some investors taking out profits. Precisely, the retail investors sold $1.91 billion in Bitcoin over the past 24 hours, edging the buying power by more than $250 million, according to CoinPaprika’s stats.
Digging into the recent whale, or large player behavior, we can establish a slightly prevailing buying trend. To illustrate, the Chaikin Money Flow (CMF) meter is flashing just above zero, meaning that crypto whales are slightly topping up their BTC positions rather than selling.
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People Also Ask:
SpaceX, Elon’s rocket company, moved $153M in Bitcoin in one go, sparking buzz about what’s next for BTC.
No clear reason yet, but it could be SpaceX repositioning assets or Elon just flexing his crypto clout.
Maybe! Big moves like this can signal confidence in BTC, potentially pumping prices if others follow.
Yup, his X posts and past Dogecoin/BTC hype keep him a major player in the crypto convo.
No word yet, but if Elon’s involved, expect more wild moves—maybe even a Starship-Bitcoin tie-in!
