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Bitcoin price is holding near $113,000 today, about a week after reaching a new all-time high above $126,000, as the market stabilizes from one of its most violent corrections in years.\u00a0<\/p>\n
The bitcoin price to record levels last week was fueled by renewed institutional demand, falling real yields, and growing adoption<\/a> of the \u201cdebasement trade\u201d \u2014 investors seeking protection against monetary expansion.<\/p>\n The recovery comes after a bruising weekend<\/a> that saw over $19 billion in leveraged positions wiped out and more than 1.6 million traders forced to liquidate positions as cascading margin calls swept across exchanges.<\/p>\n Bitcoin slipped from 24-hour highs near $116,000 to around $110,000 overnight<\/a>, as large on-chain movements from both the U.S. government and BlackRock fueled speculation about potential institutional repositioning.<\/p>\n At the time of writing, bitcoin is trading at $113,055.<\/p>\n According to blockchain analytics, the U.S. government transferred 667.6 BTC earlier today \u2014 worth roughly $74.8 million \u2014 to a new wallet early Tuesday morning.\u00a0<\/p>\n Also earlier today, the U.S. government announced a seizure<\/a> of 127,271 BTC, worth roughly $14 billion, from Chinese \u00e9migr\u00e9 Chen Zhi and his Cambodia-based Prince Group criminal network. The accused ran a global \u201cpig butchering\u201d crypto scam and laundered billions through shell companies, real estate, and mining operations.\u00a0<\/p>\n Chen faces charges of wire fraud and money laundering, while U.S. and U.K. authorities imposed coordinated sanctions on 146 entities and individuals linked to the operation.\u00a0<\/p>\n The turbulence follows last week\u2019s massive deleveraging event, the largest in crypto history. Analysts noted<\/a> that the $19 billion in liquidations reflected \u201ca clearing of speculative excess\u201d rather than broad-based selling. Funding rates swung sharply negative \u2014 the most bearish since late 2023 \u2014 suggesting an overextension of leveraged bets.<\/p>\n On-chain data supports that interpretation. Long-term holders have remained steady, while metrics such as Coin Days Destroyed and Spent Output Profit Ratio show that most selling came from new entrants capitulating at a loss.\u00a0<\/p>\n Despite the volatility, bitcoin\u2019s fundamentals remain strong<\/a>. Hash rate, transaction throughput, and active addresses all continue to trend upward, underscoring resilient network health.<\/p>\n Adding to the pressure, renewed U.S.\u2013China trade tensions have weighed on risk assets<\/a>. Beijing\u2019s restrictions on rare-earth exports prompted President Donald Trump to threaten a 100% tariff on Chinese goods, driving stocks \u2014 and bitcoin \u2014 lower.<\/p>\n<\/p><\/div>\nBitcoin\u2019s recent turbulence<\/strong><\/h2>\n