Bitcoin Price Stagnation Reignites Profit-Taking Fears Amid Whale Activity: Crypto Market Update

Bitcoin's rebound in the Asian market stalled near $119,200 during European trading hours, extending a two-week period of sideways trading. The CoinDesk 20 Index declined 1.4% over 24 hours, while the broader CD80 gauge reported a 4.6% drop, indicating significant weakness in alternative cryptocurrencies. Against this backdrop of a stagnant bitcoin market, the reactivation of long-dormant bitcoin whale wallets has sparked concerns about potential profit-taking by experienced investors. An address that had been inactive for over 12 years transferred 343 BTC in the early Asian hours, according to Whale Alert. Meanwhile, the Ethereum Treasury protocol ETH Strategy raised $46.5 million in its pre-launch funding, targeting a diverse range of investor profiles. The recent surge in ether has also led to renewed interest in riskier areas of the crypto market, including CryptoPunks, with the floor price exceeding $200,000 for the first time in over a year. Futures tied to the Solana-based token FARTCOIN saw significant liquidations on Monday, with long liquidations totaling $11.39 million. In traditional markets, the dollar index briefly surpassed 99.00, its highest level since June 23, which could potentially limit upside in BTC.