Bitcoin has slipped below the $90,000 level as markets react to rising macroeconomic tension between the United States and the European Union, with fresh concerns tied to geopolitical friction around Greenland. The renewed risk-off tone pressured equities and crypto alike, reinforcing Bitcoin’s sensitivity to global headlines when uncertainty spikes and investors reduce exposure across high-beta assets.
Beyond price action, on-chain data suggests a deeper shift is taking place inside the Bitcoin market. A report by analyst MorenoDV highlights that, for the first time in history, “new whales” now account for a larger share of Bitcoin’s Realized Cap than long-term “OG” whales. Realized Cap tracks the aggregate cost basis of coins based on their last on-chain movement, meaning this change signals that a substantial portion of
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