Bitcoin fell below $110,000 for the first time in over six weeks on Monday, erasing its post-Powell rally as profit-taking and a massive whale sell-off triggered a market-wide correction.
In a bold move, Norway’s massive $1.7 trillion sovereign wealth fund ramped up its Bitcoin exposure by 83% last quarter, according to Standard Chartered.
Bitcoin’s record-breaking rally past $124,000 yesterday reflects runaway optimism for September rate cuts, yet underlying inflation trends suggest the climb could face turbulence.
Elon Musk’s aerospace company, SpaceX, now holds over $1 billion in Bitcoin as the cryptocurrency reaches new all-time highs.
As institutional interest in crypto grows, Pantera Capital has revealed a $300 million+ investment in digital asset treasury (DAT) companies, positioning them as a yield-generating alternative to ETFs or direct holdings.
Spot Ethereum ETFs shattered expectations Monday with $1.02 billion in net inflows – their first billion-dollar day since debuting last summer.
El Salvador has taken another step in crypto integration by passing a law that lets investment banks hold Bitcoin and offer digital asset services.
