From CryptoPotato · By Jordan Lyanchev
Bitcoin’s price rallied hard on Wednesday once US trading hours opened, surging to a weekly peak of $81,000 after slumping to a multi-week low of $75,600 just 12 hours prior.
However, there are some worrying signs as of now, which could halt its progress or even reverse its trajectory.
Who Is Selling?
Citing data from Arkham Intelligence, Lookonchain reported earlier today that Trump Media Group, the entity behind Truth Social, has transferred another substantial portion of its BTC holdings to Crypto.com. More precisely, the entity has moved 4,259 BTC (worth over $340 million) to the exchange with the likely intention of disposing of the assets.
This is far from the first similar instance in the past several months. In early August, for example, wallets linked to Trump Media reportedly sold $165 million worth of the cryptocurrency, while their seven-month selling spree reached $545 million at an average price of under $75,000.
Interestingly, the entity accumulated its stash during the 2025 bull run at prices of $118,500, meaning that it spent $1.37 billion to acquire 11,542 BTC. Each sale booked a fresh loss.
The second major player that is seemingly disposing of its BTC stash is Bitcoin miner MARA Holdings. The company has transferred over $130 million worth of the cryptocurrency to several platforms, including Galaxy Digital and Copper. Just a week prior, MARA moved several batches of 1,000 BTC to BitGo, which raised a few eyebrows.
The Big One
While the aforementioned sales are nothing unusual, the next reason could be far more troubling for risk-on assets if it comes to fruition. Just a few days after the conclusion of the US midterm elections, in which President Trump’s party suffered a heavy defeat, reports emerged today that the administration and the US Military are “finishing preparation for a possible resumption of ‘major’ combat operations in Iran.”
According to Axios, the US is planning to send more assets to the Middle East, while a former Trump Advisor has said that the POTUS cannot afford another major defeat, so he needs to restart the war and come out victorious. Meanwhile, Vice President JD Vance has privately accused Israeli Prime Minister Netanyahu of “being wrong on everything” regarding Iran.
History has shown that once the strikes begin, bitcoin, the altcoins, and other risk-on assets tend to go nuclear, usually in the wrong direction.
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