The crypto market is on the back foot after Bitcoin retreats below the $113K threshold, losing over 21% in trading volume over the past 24 hours.
The community sentiment is also pushing into the bear zone as the Fear and Greed Index retreats to neutral.
Despite the looming trend, one Bitfinex whale decided this is the right time to invest and started gobbling up Bitcoins at a rate of 300 per day.
Blockstream CEO, Adam Back, is the one who pointed it out, while also reminding the community that the same whale was acquiring $BTC at a rate of 1,000 per day back in February.
This type of investment in a crypto market has ‘buy the dip’ written all over it, in preparation of an even bigger bull.
The Market Goes Down as Eric Trump Pushes ‘Buy the Dip’ Message
Eric Trump joins the ‘buy the dip’ crowd by sending the message loud and clear on X.
Eric posted the message just as Bitcoin was sinking to $112,724, displaying his undying confidence in Bitcoin’s ability to bounce back. This was expected, given that Eric Trump’s Bitcoin stake is about to get $367M fatter.
This would be the direct result of the merger between American Bitcoin Corp. and Gryphon Digital Mining, which would give Eric Trump access to over 367M shares, each valued at $1.
The deal is set to undergo stockholder approval on August 27, 2025, and 10 AM ET.
The merger, announced on July 29, would make Eric Trump one of the wealthiest individuals in the crypto sphere, which would rush in a new era for Bitcoin and, by extension, the entire crypto market.
But why is the crypto market backpedalling?
The most obvious reason is Trump’s tariff suspension ending on Friday, which puts pressure on the global economic system once more.
On the bright side, the trade agreement saw tariffs go down for US’s trading partners, especially for countries like the UK, Vietnam, Indonesia, and the EU.
Despite that, the feeling of economic uncertainty and turmoil lingers, which, ultimately, benefits the crypto market.
This means that we should expect a crypto resurgence once Bitcoin bounces back, at which point projects like Snorter Token ($SNORT) will become top gainers thanks to their blockchain utility.
Why Snorter Token ($SNORT) is Perfect for Opportunistic Investors
Snorter Token ($SNORT) is the perfect ecosystem for opportunistic investors thanks to Snorter Bot, the trader’s best sniper friend.
Snorter Bot is the ideal solution to manual coin hunting, which is typically ineffective and…
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