Over the weekend, an anonymous Bitcoin (BTC) whale dumped 24,000 BTC (worth about $2.7 billion) that triggered a $4,000 crash in just ten minutes. From high to low, it was a $6,000 swing.
Sounds scary, right? Especially after last week’s pullback.
Here’s why it’s not…
That same wallet still holds over 152,000 BTC, which is worth more than $17 billion. So that sale that spooked the market? It was monopoly money – a drop in the bucket.
This is what volatility looks like in crypto. It’s why you often hear that you need “the stomach” to get into crypto. But all that really means is that you need to have the patience to withstand market swings… just like the stock market.
When you zoom out, the case favoring the bulls in the long term is even stronger. Bitcoin ran from $75,000 in April to fresh all-time highs at $123,375 in July. Remember, pullbacks are normal—even a 25% drop doesn’t kill that momentum. And worst case? I still see us holding $94,000 before another leg higher. That’s just how bull markets breathe.
It’s not just Bitcoin, either…
Ethereum (ETH) has been on a rip all year, too. Over the weekend, it tagged $4,950, another all-time high. It continues to hold steady near $4,600, with PLENTY more room to run. In fact, I see it reaching the $6,000–$6,500 range if BTC pushes back toward $138,000 (or higher).
Now will we see some bumps in the road? Of course! And my data shows that we’ll likely see them soon. But this is normal. It’s the shakeout before the next run.
Here’s what else is going on that you may have missed…
Wall Street Can’t Stop Buying
Last week, Bitcoin exchange-traded funds (ETFs) stayed in the red for six days straight, naturally spooking traders. But on Monday, the streak snapped. Spot Bitcoin ETFs swung back $219M of net inflows, led predominantly by Fidelity and BlackRock. At the same time, U.S. spot ETH ETFs raked in hundreds of millions more.
This is sticky capital. Institutions aren’t piling into these ETFs for a quick 5% trade. They’re locking in for quarters, even years. And every inflow must be backed by real BTC or ETH in custody. That means fewer coins on the exchanges… and a stronger floor under prices. In the long run, this is how BTC and ETH embed themselves in retirement portfolios, endowments, and wealth management accounts. It’s not fast money… it’s permanent demand.
Companies Are Hoarding Bitcoin Like Gold
Another development that’s been buried in the 24/7 news cycle: more than 150 public companies now hold close to 1 million BTC in their treasuries. That’s almost 5% of the total supply locked up by corporations. Add in the fact that exchange balances just fell below 15% (the lowest since 2018)—and you’ve got a structural supply crunch brewing.
This is a bullish move because it reshapes the market dynamic. When fewer coins are sitting on exchanges, it means there’s less ammo for panic selling. And when corporations adopt Bitcoin as part of their balance sheets, it’s not a trade… it’s a long-term strategic allocation.
That’s adoption at the highest level.
Solana Snags a $400M Power Play
Sharps Technology (STSS) announced a $400M Solana treasury, one of the largest corporate altcoin allocations ever seen. That’s not a meme bet—that’s an institution writing a serious check to build a position in the Solana ecosystem.
Why does this matter?
Because it proves that demand for altcoins isn’t just retail hype. Large-scale capital allocators are recognizing the role of non-Bitcoin chains in the next wave of adoption. It broadens the narrative beyond “Bitcoin or nothing” and validates the multi-chain future many of us have been talking about for years.
In the long run, this diversifies the base of institutional demand—which strengthens the entire crypto market.
Crypto’s Doing More Than Making Millionaires
And here’s something else you probably didn’t see on CNBC: a meme coin is out here saving cats and dogs.
Pawthereum—a project that spun out of the old Grumpy Cat token—has been quietly donating to animal shelters around the world. Every transaction sends a little slice to charity, and over the past year they’ve funded everything from pet food drives to new shelter facilities.
Now, I get it… meme coins aren’t where you want to put your retirement money. But when a token can bring in new users, create real-world impact, and generate headlines that make people smile instead of rolling their eyes, that’s fuel for the whole space.
It softens regulators, it draws in new retail investors, and it shows crypto isn’t just about charts… it’s about community.
Cheers,
Tom Gentile
America’s Pattern Trader
