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Bitcoin hit $64,450 this week, up 3.5%, even as corporate selling and geopolitical noise rattled traders. Not a clean week. Not even close.
The move started Monday when Bitcoin pushed past $64,000, bouncing back hard from a dip below $58,000 the previous week. Then came the gut-punch: Strategy, the largest corporate holder of Bitcoin, sold more than 3,500 BTC. Prices dropped fast to $61,200. Traders panicked. But the selloff didn’t stick. Bitcoin clawed back to $64,500 as signals emerged that US-Iran tensions might cool, with reports of potential new discussions between the two nations floating across newswires mid-week. That was basically enough to flip sentiment.
Ethereum also moved. It climbed nearly 3% to $1,800.
Strategy’s Sale and What It Actually Meant
The Strategy sale spooked markets initially, and that’s pretty understandable. When the single biggest corporate Bitcoin holder starts moving coins, people assume the worst. But the recovery was fast enough to make some traders reconsider. Speculation around the sale shifted quickly — the thinking being that offloading assets might actually improve confidence in the company’s financial position rather than hurt it. Unclear whether that logic holds long-term, but it’s what the market ran with.
US-Iran tensions had already been grinding on sentiment before the sale. Mutual strikes reignited fears mid-week and pushed Bitcoin into choppier territory. The partial easing that followed gave traders something to hold onto. And the broader crypto market followed Bitcoin’s lead. ZEC, UNI, and BCH all posted gains. SOL, DOGE, RAIN, and XLM took losses. Total market cap settled at $2.29 trillion. Bitcoin’s dominance sat at 56.5%.
That dominance number is worth noting — it’s been creeping up, and it tells you a lot about where capital is sitting right now. Altcoins aren’t getting the same love.
Ripple’s MiCA Win, Hoskinson’s Ethereum Dig
Ripple had a good week on the regulatory front. The company secured a full MiCA license from Luxembourg’s regulator, which means it can now operate as a regulated crypto asset service provider across the entire European Economic Area. That’s not a minor thing. The MiCA framework covers a huge swath of the continent, and getting that license from Luxembourg specifically gives Ripple a passport to expand its crypto payments platform region-wide. It’s a genuine regulatory win, and probably one of the cleaner stories to come out of an otherwise messy week.
Charles Hoskinson didn’t let the week pass quietly. He went after Ethereum, accusing the network of lifting Cardano’s concepts without giving any credit. Specifically, he pointed to Ethereum’s proposal to reduce state storage for payments — something he says draws directly from Cardano’s existing framework. Whether or not that claim holds up technically, Hoskinson was pretty blunt about it. The tension between these two camps isn’t new, but it doesn’t seem to be cooling down either.
Bitmine’s Ethereum Accumulation Strategy
Bitmine kept buying. The company picked up another 42,197 ETH, pushing its total holdings to roughly 4.8% of Ethereum’s circulating supply. Its stated goal is 5%, and it’s getting close. That’s an aggressive accumulation strategy by any measure, especially given that Bitmine is sitting on billions in unrealized losses right now.
And yet the company isn’t flinching. Bitmine says it expects more than $200 million in annualized staking rewards, and that’s where its focus seems to be — not the paper losses, but the yield coming from holding such a large chunk of the network. Whether that math works out over time depends heavily on where ETH prices go, but the commitment to the position is clear.
Ethereum itself has its own catalyst sitting on the horizon. The upcoming Glamsterdam upgrade has analysts watching closely. Ethereum currently trades about 65% below its peak, which is a brutal gap. Some analysts have pointed to a divergence between steady on-chain activity and unusually low social media interest — a combination that’s historically shown up before significant price moves. That’s not a guarantee of anything, but it’s the kind of setup that gets people paying attention.
Solana had a rough week. Prices fell, negative sentiment piled up online, and the mood around SOL got pretty dark. Some analysts think that kind of environment can precede a reversal, but sentiment around Solana is mixed at best right now. No clear catalyst on the horizon.
Bitcoin’s week, stripped of all the noise, basically came down to this: a corporate sale hit prices, geopolitics added volatility, and the market absorbed both. Bitmine now holds approximately 4.8% of Ethereum’s circulating supply.
Frequently Asked Questions
How much did Bitcoin rise this week and what drove the recovery?
Bitcoin rose 3.5% to reach $64,450, recovering from a dip to $61,200 after Strategy sold over 3,500 BTC, with easing US-Iran tensions helping push prices back up.
What is Bitmine’s current Ethereum position?
Bitmine acquired 42,197 ETH this week, bringing its holdings to approximately 4.8% of Ethereum’s circulating supply, with a stated goal of reaching 5% and expectations of over $200 million in annualized staking rewards.
