Bitcoin News Today: "SpaceX's Bitcoin Shuffle Sparks Debate: Routine Move or Strategic Shift?"

Elon Musk's SpaceX has reignited market speculation after transferring $268 million worth of Bitcoin this week, marking the first significant movement of its crypto holdings in three months. Blockchain analytics firm Arkham reported that the aerospace company moved 300 BTC ($33 million) and 915 BTC ($100.7 million) to new unmarked wallets on October 24, 2025, following an earlier 2,395 BTC ($268 million) transfer to two addresses, according to Crypto.News. The activity has sparked debates about potential wallet reorganization or custody arrangements, with some analysts noting the transfer fee aligning with Coinbase Prime's rates.

The moves come as Tesla, another Musk-led entity, continues to hold 11,509 BTC valued at $1.31 billion, securing its position as the 11th-largest corporate Bitcoin holder globally, according to Yahoo Finance. Tesla's Q3 2025 financial report revealed an $80 million profit from Bitcoin's price appreciation without selling any of its holdings, driven by revised fair-value accounting rules. This contrasts with SpaceX's recent activity, though both companies maintain long-term crypto strategies.

Meanwhile, on-chain data suggests broader market shifts. Glassnode analysis, reported by Coinotag, indicates that Bitcoin's illiquid supply—the coins held in inactive wallets—has declined by 62,000 BTC ($7 billion) since mid-October 2025, signaling increased circulation and potential price pressure. Long-term holders are reducing positions for the first time in the second half of 2025, while whales are accumulating. Over the past 30 days, large investors have grown their Bitcoin holdings without significant sales, a trend that diverges from historical patterns where large outflows from inactive wallets often precede market corrections.

Whale activity has intensified across major cryptocurrencies. A major whale with the address 0xc2a3 opened long positions worth $170.46 million in BTC and $167.35 million in ETH, while another (0x71a0) targeted altcoins like Solana (SOL), PUMP, and FARTCOIN, according to Bitcoinsistemi. Separately, a trader acquired 501,775 SOL ($99.65 million), highlighting growing institutional interest in altcoins, and the launch of the Bitwise Solana Staking ETF attracted $217.2 million in assets on its debut, per TradingView.

Market observers are cautiously optimistic. Fidelity Digital Assets projects that 42% of Bitcoin (8.3 million BTC) could remain illiquid by Q2 2032, reinforcing its scarcity narrative despite current sell-offs, according to Coinotag's coverage of Glassnode data. However, smaller wallets (0.1–10 BTC) are driving selling pressure, creating an imbalance that could weigh on prices until fresh demand emerges.

SpaceX's Bitcoin holdings, currently valued at $770 million, remain a wildcard in the crypto landscape. While some view the transfers as routine fund management, others speculate about strategic repositioning ahead of regulatory or market developments. With Musk's companies collectively holding over 18,000 BTC, their actions continue to influence investor sentiment and market dynamics, and Tesla's holdings remain a notable part of that picture.