Featured News Headlines
Bitcoin Price Falls 4% After Whale Sell-Off and Tech Stock Slump
Bitcoin’s recent volatility continued last week, as the cryptocurrency fell nearly 4%, dropping from highs above $120,000 to around $100,000. While not unusual for the digital asset, the decline rattled investors after a rapid rise earlier this month.
Whale Sell-Off Triggers Initial Dip
According to blockchain analytics platform Lookonchain, a long-time Bitcoin whale—holding over 100,000 BTC—initiated a significant sell-off last Monday. Large amounts of Bitcoin were offloaded on exchanges like Hyperliquid, with the proceeds reportedly shifted into Ethereum (ETH).
This single event dragged Bitcoin’s price down from approximately $114,000 to $108,600 within 24 hours. However, once the source of the selling pressure was identified, market sentiment stabilized, helping Bitcoin rebound to around $113,500 by Thursday evening.
Tech Stocks Add to the Downside
The second wave of selling came from outside the crypto markets. Major AI and data center stocks—which had driven much of the U.S. equity rally—posted weaker-than-expected Q2 earnings. Companies like CoreWeave (CRWV) fell 33.1%, Marvell Technology (MRVL) dropped 19%, and NVIDIA (NVDA) slipped 3.32%.
This sector-wide downturn pulled the Nasdaq down 1.32%, its sharpest daily fall since August 1. Due to Bitcoin’s increased correlation with tech stocks, the cryptocurrency declined another 3.72%.
What Lies Ahead?
While some analysts see support forming near $107,000, others warn of potential downside to $92,000 if macroeconomic pressure continues. Ethereum, by contrast, has shown relatively stronger sentiment, with Bitmine chairman Tom Lee stating, “ETH could reach $5,500 in weeks, and possibly $10,000 by year’s end.”
This week’s U.S. bond auction and non-farm payroll (NFP) report could further sway markets. Bitcoin, more than ever, is reflecting shifts in global liquidity and macroeconomic sentiment—not just crypto-native developments.
