Bitcoin price was on a downward trend in the first days of the week. The leading cryptocurrency fell to $105,185 at the start of the week. This decline was associated with macroeconomic developments and increased profit selling. Despite all this, BTC’s rise in the later days of the week attracted attention. BTC reached $110,500 from $105,185 on July 2-3.
BTC, which started the week on a downward trend, approached an all-time high in the middle of the week, which was interpreted as an “unstable market” outlook. US President Donald Trump’s steps in the fields of economy and foreign policy and the Fed’s rhetoric on interest rates were behind the rise. Still, BTC retreated back to $108,000 near the last trading day of the week.
In the turbulent week, rumors that Bitcoin would experience a deep decline also increased. Arthur Hayes, one of the popular names of the crypto sector, signaled a decline with his striking statements.
Here’s what happened this week…
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Kiyosaki: “I Hope Bitcoin Collapses”
Robert Kiyosaki, who attracted attention with his books on economics and his discourses on financial markets, evaluated the latest developments in the crypto market. Commenting on Bitcoin’s decline from $ 110,000 to $ 108,000, Kiyosaki emphasized that negative discourses on Bitcoin should not be paid attention to. The famous author said, “Losers continue to warn about the collapse of Bitcoin. They want to scare speculators.”
Emphasizing that he will remain loyal to Bitcoin no matter what, Kiyosaki commented, “I hope Bitcoin collapses, I will only buy more BTC.”
Sleeping Giant Awakens: Bitcoin Transfers Create Chaos
A whale wallet that accumulated Bitcoin at $0.78 in 2011 woke up 14 years later. The whale, which created chaos in the crypto market, transferred BTC to new wallets it created 14 years later. This development in the last days of the week was one of the factors behind BTC’s decline to $108,000.
The whale in question made 8 different transfers of 10,000 units. The whale, which also moved 80,000 BTC to new wallets, increased speculation that it could start selling profits after 14 years. The total value of BTC transferred by the whale exceeds $8.5 billion, so the implications of a possible sale are troubling. Many analysts said that the whale was a miner’s wallet and that it was transferring its 2011 mining revenues to new wallets. Analysts emphasized that this transaction was not for sale, but as a security measure.
Arbitrum Featured With Robinhood
Robinhood, a public trading platform, announced a partnership with Arbitrum at an event in Cannes. The partnership involves building a blockchain infrastructure that will enable European Union-based users to buy and sell US stocks on-chain. Arbitrum will build Robinhood Chain, Robinhood’s blockchain.
Although the partnership created great expectations, the ARB price saw a massive sell-off. ARB rose to $0.38 on the excitement created by the Robinhood partnership, but quickly fell back to $0.32. ARB investors questioned the failure of even such big news to contribute to the rally.
Crypto Move From Germany-Based Bank
Frankfurt-based banking company Deutsche Bank will start crypto custody service in 2026. Deutsche Bank aims to launch a cryptocurrency custody service with Bitpanda and Taurus next year and expand its digital asset initiatives in Europe. The initiative will enable Germany’s largest bank to offer its customers access to Bitcoin. The bank’s customers will be able to store their digital assets securely. Bloomberg’s news on Tuesday made waves in the crypto market.
A First Solana Staking ETF Launched
There was an important development in the crypto market this week. An exchange-traded fund that allows Solana staking was launched in the US this week.
The ETF, REX-Osprey Solana Staking ETF, will allow investors to earn rewards by staking SOL to validate transactions on the blockchain. This ETF is the first and only one of its kind. ETF experts emphasized that this ETF is a big step and that similar products will be launched in many altcoins in the near future.
Launched on July 2 with the SSK code, the ETF achieved a trading volume that met expectations. Bloomberg’s ETF analyst Eric Balchunas announced that the fund has overcome regulatory hurdles.
Crypto Voices In Belgium
Belgium’s local media reported that KBC Bank, one of the country’s largest financial institutions, will enter the crypto sector. Through its Bolero subsidiary, KBC Bank will allow its customers to invest and store cryptocurrencies. KBC Bank will allow its retail customers to invest in Bitcoin and Ethereum. Belgian banks, which have so far stayed away from digital assets, will start to recognize the crypto sector with the step taken by KBC Bank.
In the published report, Belfius emphasized that other banks in Belgium, such as ING and BNP Paribas Fortis, are cautious.
