Bitcoin Hits Record Weekly Close at $109.7k Amid Trump’s Crypto Bill and Market Buzz 👏🏻
Bitcoin held strong over the holiday weekend, reaching a new weekly high of $109.7k on Sunday, July 6, 2025, after President Trump signed a pro-crypto bill into law. Despite some nerves from $8.5 billion in BTC moved by reactivated dormant wallets and a prior $4.3 billion sell-off, the market stayed bullish. Altcoins rallied on rumors of TON’s “Golden Visa” program (later debunked by UAE officials) and Elon Musk’s launch of “The American Party,” where he hyped Bitcoin and trashed fiat currency. Big players like Metaplanet and MicroStrategy kept stacking BTC, supporting the price, though whale sell walls might cap gains for now. Volatility is low, but some traders are betting big on September $130k and $115k/$140k call options, signaling confidence in a Q3 breakout past $110k.
The market’s shrugging off massive whale moves shows Bitcoin’s got serious staying power, especially with Trump’s crypto bill boosting sentiment. Musk’s antics and the altcoin buzz add fuel, but those whale sell walls could keep things range-bound unless $110k cracks. The low volatility feels like the calm before a storm—those September calls suggest big players are gearing up for a potential moonshot. Still, the market’s hype-driven, so any regulatory hiccups or whale dumps could stir things up. Exciting times, but stay sharp
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