Bitcoin (BTC) traded at $107,282, reflecting a 4.84% decrease from the previous close. (Source: Reuters) The cryptocurrency's price had surged earlier in the year, surpassing $100,000 in May, driven by increased institutional investment and positive regulatory expectations.
The U.S. government has been actively involved in the cryptocurrency market. President Trump signed an executive order in March, establishing the Strategic Bitcoin Reserve, with the U.S. holding an estimated 200,000 BTC. (Source: Reuters) Additionally, Arizona and New Hampshire have enacted laws allowing state involvement with cryptocurrencies.
Market dynamics show a shift in holder composition. Retail investors have reduced their holdings by 54,500 BTC year-over-year, while large holders have increased their holdings by 507,700 BTC. (Source: Reuters) The post-halving issuance of BTC is currently around 450 BTC per day, potentially leading to a "supply squeeze."