Bitcoin Faces Selling Pressure as Retail Investors Take Profits, Square Integrates Bitcoin Payments

Bitcoin's latest price was $, in the last 24 hours. The cryptocurrency has been experiencing a complex interplay between investor sentiment and market behavior. Despite approaching its all-time high, Bitcoin has been met with weak investor sentiment, particularly from retail investors who are exhibiting significant selling pressure. This trend is driven by profit-taking, as many retail investors are capitalizing on gains and offloading their Bitcoin holdings.

Regional sentiment disparities further complicate the market outlook. For instance, the demand from U.S. institutional investors remains subdued, while the enthusiasm and selling pressure among Korean retail investors have diminished. These regional nuances underscore the fragmented nature of Bitcoin’s current market sentiment and the importance of localized factors in shaping global trends.

Despite the prevailing caution, Bitcoin’s ability to maintain its position above a certain range serves as a vital technical and psychological support level. This price band acts as a foundation that absorbs selling pressure and signals underlying strength from long-term holders and institutional buyers. Holding this support not only reflects market resilience but also sets the stage for potential upward breakouts. Technical analysis suggests that sustained demand at these levels could catalyze renewed buying interest, gradually restoring investor confidence and shifting sentiment from hesitation to engagement.

Several factors could serve as pivotal triggers for shifting Bitcoin investor sentiment. Clearer macroeconomic signals regarding inflation and interest rates may encourage risk asset allocation. Regulatory advancements could provide institutional investors with much-needed certainty. Significant inflows into Bitcoin Spot ETFs might absorb excess supply and demonstrate robust demand. A decisive breakout above previous all-time highs accompanied by strong volume could ignite renewed investor enthusiasm. Monitoring these developments is essential for market participants seeking to anticipate shifts in sentiment and adjust strategies accordingly.

In light of the current market paradox, investors are advised to adopt a measured approach grounded in comprehensive data analysis and risk management. Key strategies include regularly monitoring on-chain metrics such as exchange inflows/outflows and whale activity to gain granular market insights. Recognizing regional sentiment disparities to better understand localized demand and supply dynamics is also crucial. Focusing on the critical support range as an indicator of market stability or potential downside risk is important. Maintaining a long-term investment perspective to balance short-term volatility against Bitcoin’s broader adoption trends is recommended. Implementing prudent risk management by investing within personal financial limits, acknowledging inherent crypto market volatility, is essential.

Square has taken a significant step in integrating cryptocurrency into mainstream financial transactions by launching native Bitcoin payment services for select merchants. This move uses the Lightning Network to facilitate fast, low-cost transactions among merchants. Merchants are empowered with options to hold Bitcoin or convert it to fiat currency instantly, adding flexibility to their payment systems. This initiative aligns with Block’s push for Bitcoin’s acceptance akin to foreign currency, potentially increasing its adoption for everyday transactions.

Square’s introduction of Bitcoin payments involves the deployment of the Lightning Network, aiming to enhance transactional efficiency and cost-effectiveness. Merchants have autonomy over whether to retain Bitcoin or switch it to fiat. Such flexibility supports economic empowerment for businesses. The integration could encourage both small and large businesses to reconsider cryptocurrencies as a viable payment method, strengthening their presence in digital commerce.

SpaceX has moved 1,308 Bitcoin in its first onchain activity in three years. The movement was flagged by Arkham Intelligence, which tracks wallets tied to the company. The Bitcoin was withdrawn from 16 Pay-to-Public-Key-Hash (P2PKH) addresses and consolidated into a single SegWit-compatible Pay-to-Witness-Public-Key-Hash (P2WPKH) address, where it remained at the time of publication. The movement of BTC from 16 separate addresses into one could make it easier to manage and possibly cheaper to spend the funds later. While the reason for moving the assets is unclear, the nature of the transfer suggests a strategic adjustment rather than a reactive action.

SpaceX is a private aerospace company founded by Elon Musk in 2002. The company first disclosed its BTC holdings in July 2021. The purchase was part of Musk’s broader strategy to diversify his companies’ assets and support crypto adoption. Neither SpaceX nor Musk has commented on the transfer. SpaceX’s decision to consolidate its Bitcoin holdings comes as the company is navigating increasing political uncertainty. In early June, the administration of US President Donald Trump reportedly threatened to review or cancel about $22 billion in SpaceX contracts amid a feud between the Trump and Musk. Though most of the contracts were deemed “too critical to US interests to eliminate,” the episode signaled growing political tension and raised questions about SpaceX’s long-term standing with the US government.

Today, the Pentagon announced its decision to diversify its partners for the Golden Dome missile defense system, a $175 billion missile defense initiative to build a space-based network of satellites to detect and track incoming threats. Concerns over “over-reliance on SpaceX” have prompted the Trump administration to open bids to other providers, ensuring the Golden Dome isn’t solely dependent on SpaceX. Since the 2021 Bitcoin bull run, Elon Musk’s relationship with crypto has been anything but straightforward. His early tweets endorsing Dogecoin sent the memecoin soaring, only for it to crash by 30% following his appearance on the TV sketch comedy show “Saturday Night Live.” That same year, Tesla announced a $1.5 billion Bitcoin purchase and briefly accepted BTC as payment. The decision was soon reversed over environmental concerns, and a portion of the company’s holdings was sold off.

After acquiring Twitter in 2022 and rebranding it as X, Musk began laying the groundwork for a broader financial ecosystem. X secured money transmitter licenses across the US, and backend code revealed early development of a native crypto wallet. While no crypto features have been launched publicly, blockchain integration remains part of the long-term vision. In a 2024 podcast, venture capitalist Chamath Palihapitiya said SpaceX uses stablecoins to collect Starlink payments in emerging markets, bypassing traditional banking rails. “They don’t want to deal with sending wires… so they swap into stablecoins,” he said. Today, SpaceX is estimated to hold about 6,977 BTC, positioning it quietly among the largest corporate Bitcoin holders.