Bitcoin Nears All-Time High on ETF Inflows and 80K BTC Move

Bitcoin traded near its record high, holding around $109,000, driven by robust ETF inflows and positive macro signals. Spot Bitcoin ETFs saw net inflows of $667 million last week, highlighting strong institutional demand despite seasonal low volumes. The U.S. Treasury’s delay of new import tariffs until August and dovish Fed remarks on possible rate cuts as soon as September lifted risk appetite. Goldman Sachs now forecasts three Fed rate cuts by year-end, shifting market odds toward two cuts in 2025. On-chain data revealed a major whale transfer: 80,000 BTC from 2011 UTXOs moved from P2PKH to modern Bech32 addresses, likely for inheritance planning, security upgrades, or quantum-resistance. Critical upcoming catalysts include June CPI and PPI inflation data, the next Fed meeting, and “Crypto Week” on Capitol Hill, featuring votes on the Digital Asset Markets Clarity Act and the GENIUS stablecoin bill. Bitcoin’s resilience amid large whale activity underscores its growing maturity. Traders should watch macro developments and whale flows as potential triggers for short-term price swings and long-term trend shifts.