Crypto Edges Up As Momentum Builds

Bitcoin closed the week at its highest weekly close ever, finishing at $109,200, as it continues consolidating just below its previous all-time high. The digital asset market quietly moved higher over the week, with several major coins posting positive returns, including Ethereum, which rose 6.72% while remaining within its broader $2,400 to $2,600 range.

In Australian macro news, yesterday’s decision by the Reserve Bank of Australia (RBA) to keep interest rates unchanged at 3.85% surprised many market participants. Markets had priced in a 0.25% cut, but the RBA held firm, citing global economic uncertainty, particularly the unpredictable tariff impacts from Donald Trump’s policies. RBA cuts are still expected later in 2025, aligning with US expectations.

Weekly Price Update

Bitcoin OG Whale Wakes Up After 14 Years

This week, several long dormant “OG” Bitcoin whale wallets holding a combined 80,000 BTC ($8.7 billion) woke up after more than 14 years of inactivity. Funds were moved into new addresses in large chunks of 10,000 BTC each, notably without any test transactions. These wallets date back to Bitcoin’s earliest days.

On chain data shows that in 2011, these addresses transferred 23,377.83 BTC to three destinations, two received 10,000 BTC each, and the third took the remaining 3,377.83 BTC. BTC was priced at just $0.78. There are also six other addresses that received 10,000 BTC each in 2011, when BTC was at $3.37.

OG BTC Whales Portfolio - From $15K to $8.7B

This movement sparked speculation, with many fearing an upcoming market sale or possible hack, but on chain analytics platforms suggest these were security driven address upgrades rather than liquidations. While a small dip occurred, selling pressure was minimal, and with Bitcoin’s market depth today, it wouldn’t take much extra buying to absorb such sales. The identity behind these colossal wallets remains a mystery, fuelling debate across the community with theories ranging from early miners to even Satoshi Nakamoto himself, though no concrete proof has emerged.

ETF Inflows Surge As Institutions Keep Accumulating

The past few trading days have seen strong inflows into crypto ETFs, highlighting the growing institutional appetite:

• Bitcoin ETFs saw $1.3 billion in inflows over the last 4 days.

• Ethereum ETFs recorded $238 million in inflows during the same period.

• Solana ETFs, launched just last week, have already attracted $41.2 million in inflows.

Japanese investment firm Metaplanet continued its aggressive Bitcoin accumulation strategy, purchasing $238.7 million USD worth of BTC last week, bringing its total holdings to an impressive $1.7 billion USD. Additionally, Michael Saylor’s Strategy has announced a $4.2 billion stock offering, with funds likely to be used to acquire more Bitcoin.

Top Public Bitcoin Treasury Companies

7 Day Sector Update: Ethereum Strength Returns, AI Slips

The 7 day sector performance shows a positive week for crypto markets, led by Memecoins, which surged 8.50%, marking the highest sector gain this week. This strength is largely driven by renewed momentum from Bonk Fun and Bonk’s leadership, which may be early signs of a fresh meme season.

Ethereum followed closely, up 6.76%, continuing its renewed strength and recovery in 2025, largely driven by the Pectra upgrade and consistent ETF inflows. DeFi also performed well, gaining 6.73%, indicating steady demand in the sector.

AI tokens underperformed relatively, ending the week up only 1.69%, perhaps continuing their recent cooling after explosive growth earlier in the cycle. RWA and DePIN sectors lagged, with minimal gains of 0.90% and 0.99% respectively, indicating weaker market interest at this stage.

Overall, Memecoins and Ethereum have emerged as the key outperformers this week.

Tariff Headlines Return as Trump Signals Final Extension

Fresh fear resurfaced in markets this week following new US tariff headlines, creating another wave of macro noise and shaking investor sentiment. Historically, tariff announcements trigger short term sell pressure without causing lasting damage, as we’ve seen Bitcoin make fresh highs after the first set of tariffs. Importantly, despite these fresh headlines, Bitcoin and Ethereum remain higher than pre announcement, showing the market’s underlying strength.

This week, the 90 day pause on tariffs was extended to August 1st, but new tariffs were imposed on several major countries that failed to reach deals with the US. President Trump stated there will be no further extensions, with countries required to start paying from August 1st. Today, he announced he will be making trade announcements for at least seven countries tomorrow morning.

While trade war headlines remain unpredictable, history shows that any dips caused by these moves often turn into opportunities rather than threats. Look out for the announcement tomorrow.

Pump.fun Massive Raise Triggers Market Caution

Pump Fun plans to raise $600 million at a $4 billion valuation for its upcoming token launch this week, effectively extracting more value from its user base. Many in the industry see the raise as unnecessary and potentially harmful for the Solana and meme ecosystems.

The announcement triggered a sell off across Solana markets, with traders viewing it as a potential liquidity blackhole, similar to the Trump token launch where investors sold existing positions to chase the new listing. While short term volatility is expected to continue, creating tactical opportunities, much of this is likely already priced in as investors have had time to prepare.

Meanwhile, the Bonk team continues to build beyond memes. Its new launchpad, Bonk Fun, launched recently to rival Pump Fun. Unlike Pump Fun, often criticised for diluting meme coins and market selling revenue, Bonk Fun uses over 50% of its revenue to buy and burn Bonk tokens, feeding value back into the ecosystem. So far, it has purchased $500k worth of Bonk, and this week overtook Pump Fun in both revenue and market share for the first time. Bonk is up 60% this week, with memes launched via Bonk Fun, such as Hosico and Useless, rallying between 10–30x.

Launchpad Market Share & Volume Comparison

Recently Listed Tokens at UpTrade

Saga - (SAGA)
Illuvium - (ILV)
Beam - (BEAM)
Pengu - (PENGU)
Morpho - (MORPHO)

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