Crypto Week 2025 has kicked off with a sharp downturn, as the market experiences a steep correction just days before the release of key U.S. inflation data. Bitcoin’s price plunged nearly 5% from recent all-time highs of $123,000, while the market was shaken by news that a long-term whale from the Satoshi era transferred $2 billion worth of BTC to Galaxy Digital — likely to secure profits.
🐳 Satoshi-Era Whale Shifts Thousands of BTC
A legendary “Bitcoin OG” has transferred another 7,843 BTC (worth $927 million) to Galaxy Digital, bringing the total recent movement to 16,843 BTC, or about $2 billion. According to LookonChain, a portion of these funds has already been sent to major exchanges like Bybit and Binance, increasing fears of large-scale sell-offs.
The wallet still holds an enormous 80,009 BTC, currently worth more than $9.4 billion.
📉 Altcoins Bleed as Inflation Data Looms
Major altcoins such as Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) dropped 3–8% today, despite double-digit gains in recent weeks. Both ETH and XRP slipped back below key resistance levels at $3,000 and $0.60, indicating buyers may need to regroup for another push.
Investor attention now shifts to June’s Consumer Price Index (CPI) and Producer Price Index (PPI) reports in the U.S. Economists expect a 0.3% MoM rise and a 2.6% YoY increase — up from 2.4% in May. Any surprise to the upside could trigger more selling in risk assets like crypto.
💣 Crypto Week Starts with "Sell the News"?
The crypto community had high hopes for Crypto Week 2025, with pivotal votes on the CLARITY Act, GENIUS stablecoin bill, and legislation pushing back on CBDC surveillance. These expectations had driven Bitcoin to new highs in the days leading up.
However, it seems the market is opting to sell the news. In the past 24 hours, over $681 million has been liquidated — with more than $406 million from long positions.
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