The cryptocurrency market was electrified Friday by the largest-ever movement of Bitcoin (BTC) from the network's earliest days, colloquially known as the “Satoshi era.” A staggering 80,000 BTC, worth over $8.6 billion at current prices, was transferred from eight wallets that had been dormant for more than a decade. The activity began early Friday when two wallets, each holding 10,000 BTC since April 3, 2011, moved their entire balances to new addresses. At the time of their initial acquisition, Bitcoin was trading at a mere 78 cents, meaning each wallet's holdings have appreciated by an astronomical 13.9 million percent to over $1.1 billion today. These initial coins originated from a single wallet, “1HqXB…gDwcK,” which distributed them back in 2011. Later on Friday, according to on-chain analysis firm Arkham, six other wallets executed similar transfers of over 10,000 BTC each in quick succession, suggesting a single entity controls all eight wallets. The identity of this early miner or investor remains a mystery, and the funds have since been moved to modern, lower-fee address formats where they remain stationary, for now.

Bitcoin Price Reacts as Market Eyes $110K Resistance

This monumental on-chain event coincided with a powerful rebound in Bitcoin's price, which surged towards the $110,000 mark. After a brief dip below $106,000 on Tuesday, BTC rallied strongly, reaching approximately $109,500, its highest price since June 11. The BTCUSDT trading pair reflected this bullish momentum, posting a 24-hour high of $109,076.98. This price action was supported by a broader risk-on sentiment in traditional markets, partly fueled by Donald Trump's announcement of a new trade deal with Vietnam. The deal, which imposes tariffs on Vietnamese goods but removes them for U.S. exports, was perceived positively by investors, with the Nasdaq climbing 0.8%. For traders, the key takeaway is Bitcoin's resilience and its ability to reclaim key psychological levels. The immediate resistance lies at $110,000, and a sustained break above this could signal further upside potential, while the recent low near $107,837.71 on the BTCUSDT pair now serves as a crucial short-term support level.

Altcoin Strength and Institutional Inflows Signal Confidence

The positive sentiment was not confined to Bitcoin. Solana (SOL) demonstrated significant strength, bolstered by a landmark event in the U.S. financial markets. The debut of the REX-Osprey Solana + Staking ETF (SSK), the first crypto staking product of its kind in the United States, was met with remarkable investor appetite. According to Bloomberg analyst Eric Balchunas, the ETF saw trading volume of $20 million on its first day, a figure he described as being in the “top 1% for a new launch.” This dwarfs the $1 million first-day volume of the futures-based SOLZ ETF launched in March, indicating strong demand for spot exposure with staking rewards. This institutional validation helped propel SOL's price. The SOLUSDT pair climbed over 2.7% to trade around $150.97, hitting a daily high of $153.01. Furthermore, the SOLBTC pair gained 1.84%, showing that Solana was outperforming Bitcoin during this period, a bullish signal for the altcoin and its ecosystem.

July Volatility on the Horizon: A Trader's Guide

Looking ahead, the market is bracing for a potentially volatile July, with several key dates and policy decisions looming from the Trump administration. Vetle Lunde, head of research at K33, highlighted a crowded calendar of market-moving events. The first is the anticipated signing of the “Big Beautiful Bill,” a massive $3.3 trillion expansionary budget bill, by this Friday. Such a significant expansion of the U.S. deficit could be highly bullish for scarce assets like Bitcoin. Following that, a July 9 tariff deadline could introduce further trade-related turbulence. Finally, July 22 marks the final deadline for a long-awaited crypto executive order, which may include updates on the U.S. Strategic Bitcoin Reserve. Lunde noted that while these events create a backdrop of “latent Trump volatility,” the underlying market structure appears healthy. He stated that “crypto-leverage remains contained,” suggesting there are “few reasons to expect a massive broad deleveraging of the crypto market.” For traders, this implies that maintaining spot exposure and exercising patience could be a prudent strategy to navigate the expected summer choppiness and potential seasonal apathy, while remaining positioned for significant moves driven by U.S. policy shifts.