BONK, the meme coin, leaps forward with a 20% daily rise as Bitcoin (BTC) remains steadfast at the $108,000 mark. This occurs as a notable event amidst a generally quiet Sunday morning where most larger-cap altcoins have shown minimal gains. TON and BONK stand out as the day’s top performers.

Bitcoin’s journey has been static, showing little deviation from the $108,000 mark. The last significant price swing happened around two weeks back – on June 23 and 24 – when it dipped to $98,000 before rallying past $105,000 the next day amid escalating Middle East tensions. Since then, the crypto giant has been trading in the narrow range of $105,000 to $110,000.

On Wednesday, the lower boundary was tested, leading to a bull-driven push towards the upper limit. Bitcoin teased a possible breakout on Thursday, peaking at $110,500. However, the bears intervened, preventing a new all-time high. Since then, Bitcoin has returned to $108,000, where it has largely remained. BTC’s market capitalization remains robust at $2.15 trillion, with a dominant share of over 63% in market capital.

While most larger-cap altcoins are slightly green, the standout performers are TON and BONK. TON has seen a rise of over 9%, trading at $3, whereas BONK has surged by 20%, trading at $0.000022. The overall crypto market cap remains relatively stable at $3.4 trillion.

The post BONK Skyrockets 20% Daily as Bitcoin (BTC) Holds Steady at $108K: Weekend Recap appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The dip might be a result of investors cashing in their profits before the weekend. At the time, Bitcoin was only 1.5% below its record peak. Investors are also concerned about the potential fallout of an international trade conflict, particularly after President Donald Trump of the United States confirmed the July 9 deadline for an increase in import tariffs.

Some investors believe that the market was spooked by the movement of a long-inactive Bitcoin wallet. Onchain analysts hypothesize that a miner from 2011 was behind Friday’s 80,009 BTC transfer, stirring up fears of a potential sale. Despite these fears, it’s not uncommon for large holders to move dormant coins. In fact, if the holder had plans to sell, shifting such a large number of coins could be counterproductive as it might affect the market price.

Moreover, even with an over-the-counter deal, it seems unlikely that a buyer would take on $4.3 billion in Bitcoin in one go. For context, Strategy accumulated 17,075 BTC over the course of June. Nevertheless, such large transfers often spark market fear, uncertainty, and doubt (FUD), which can exert short-term pressure on prices.

Historical data shows that this kind of isolated movement does not typically correlate with long-term trend reversals. For instance, addresses from 2013 transferred over 3,420 BTC in May 2025, and another wallet moved 2,000 BTC in November 2024 that hadn’t been touched for 14 years.

Chief Investment Strategist Michael Hartnett from Bank of America Global Research suggests the recent dip in Bitcoin’s value is more likely due to growing macroeconomic worries. As reported by Bloomberg, Hartnett’s team noted a rise in “bubble risks” following the US government’s approval of a “$3.4 trillion fiscal package that cuts taxes”. The deteriorating fiscal outlook could dampen the demand for long-term government bonds, thereby affecting broader risk markets, including Bitcoin.

Adding to the economic uncertainty, the Trump administration has reportedly started notifying other countries about “setting unilateral tariff rates” should trade agreements not be finalized by the coming Wednesday. This global economic instability, rather than any specific crypto-related factor, might be the real reason behind Bitcoin’s struggle to maintain the $110,000 mark.

The post Bitcoin Takes a Dip to $107K Despite $1B Inflow into BTC ETFs: Unraveling the Reasons Behind the Slide appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.