Bitcoin continues to trade above $118,000, up 1.45% in the past 24 hours, with a 30-day gain of 10.42% and year-to-date performance over 26%. Glassnode reports July saw a strong price breakout, hitting an all-time high of $122,700 before consolidating just below that level.

Bitcoin’s realized capitalization surpasses $1 trillion for the first time, reflecting growing conviction among long-term holders and new entrants. This milestone indicates a deepening liquidity base and signals bitcoin’s expanding role in the macroeconomic landscape.

Galaxy Digital executes a $9 billion bitcoin transaction, representing one of the largest in crypto history, on behalf of a legacy investor. CNBC reveals Tesla converted 75% of its bitcoin into fiat currency in the second quarter of 2022, with bitcoin hovering around $118,000.

Criticism arises over the German government’s decision to sell nearly 50,000 seized BTC at an average price of $57,900 per coin in 2024. Arkham notes the coins would now be worth over $5.24 billion, criticizing the missed potential gains and short-term price pressure on the bitcoin market.

CoinDesk Research’s technical analysis data model shows bitcoin rallying over 3% in a 23-hour session, with support at $117,140-$117,330 and resistance below $118,200. The asset closes with modest gains, indicating continued buying interest below psychological resistance levels.

Read more at Yahoo Finance: Bitcoin Hits $1T Realized Cap as Price Holds Above $118K After $9B BTC Sale by Satoshi-Era Whale