๐ Surprise Move After 3 Years: 1,308 $BTC Moved.
According to Arkham Intelligence data, Elon Musk's space technology giant, SpaceX, transferred 1,308 Bitcoin (#BTC ) from its wallet, which had been inactive for almost three years. The current market value of this transfer is approximately $153 million. This unexpected move has created a seismic effect in the crypto world.
While the reason for the transfer is not yet clear, experts believe it could be a move to cold storage or a portfolio restructuring. However, such large-scale transfers can often trigger panic or speculation among investors.
๐ง HODL Continues: #SpaceX 's Total BTC Holdings
According to Arkham Intelligence data, SpaceX's total Bitcoin holdings currently stand at 6,977 BTC, or approximately $823.9 million. The company only moved 18.7% of its holdings with this transfer. There are no signs of a sell-off yet. This clarifies the answer to the market question, "Is SpaceX selling BTC?": No, there are no signs of selling at this time.
๐ Bitcoin Price Fluctuation: Slight Correction from New High
Bitcoin is trading around $118,000 at the time of writing, after reaching an all-time high of $122,834 on July 14th.
There was a 0.6% decline in the last 24 hours.
However, the impressive gains of 1.2% on a weekly basis, 9.1% on a 14-day basis, 15% on a monthly basis, and 75.6% on an annual basis remain.
Because this decline occurred simultaneously with the SpaceX transfer, some investors may have resorted to profit-taking due to fears of Musk selling.
๐ฌ Elon Musk Strongly Supports Crypto: People Power Against Governments
#ElonMusk has repeatedly expressed his belief in cryptocurrencies in the past. Specifically, he:
Developed payment systems for Dogecoin ($DOGE ) and Bitcoin (BTC).
Expanded crypto acceptance through Tesla and SpaceX.
Described crypto as a tool that "breaks the monetary monopoly of governments."
This stance also supports the fact that SpaceX still holds its BTC.
๐ What's Next for the Market? Profit Taking or a New High?
Bitcoin's strong rally was supported by increasing interest in institutional investments and ETF products. However, currently:
The market may have entered a correction phase due to profit taking.
The Bitcoin Fear and Greed Index, currently hovering around "Greed" levels, still suggests a potential rise.
Investors believe $130,000 could be the next target.
๐ฎ Conclusion: Is SpaceX's BTC Move a Temporary Panic or the Beginning of a New Era?
Although Elon Musk's SpaceX wallet was invigorated by a large transfer after a long period of silence, there are no signs of selling. While the market reaction may cause short-term volatility, in the long term, this move is likely related to the company's safe custody strategy.
Bitcoin still boasts strong technical indicators. If the market overcomes this short-term FUD, $130,000 could be the next target.
