SpaceX has transferred 2,495 Bitcoin, which is worth about 268.47 million dollars, to two new blockchain addresses after three months of wallet inactivity.
On-chain data says that 1,197 BTC were transferred to address bc1qq787 and 1,298 BTC were transferred to address bc1qj7en. The two wallets are silent post-transfer, and no indication of subsequent transfers is evident, and thus the transfer was possibly done to move internal assets but not an external sale.
It is one of the most notable on-chain transfers of SpaceX in 2025 and shows that the company still holds a substantial position in the asset.
SpaceX’s Bitcoin Holdings Remain Substantial
Prior to the recent transfer, SpaceX had 8,285 BTC in its primary wallet, valued at the tune of roughly $893 million. Even after the transfer, a large portion of its Bitcoin remains dormant, indicating a long-term holding.
At the same time, Bitcoin stands at a price of $107,600, and it is struggling to break a resistance level of about $114,000. Bitcoin has not yet been able to overcome the resistance zone and is currently consolidating at important support levels.
Market Sentiment and Institutional Activity
In the overall market, Bitcoin Spot ETFs managed to record net outflows of 372 BTC on October 21, indicating weak cooling of a highly volatile week. The trading volume has been stagnant at 61 billion, although this is a 2.8% decrease from that of the previous day, showing reduced speculative activity.
According to the technical indicators, Bitcoin is hovering around the support level of approximately $99,000 to $101,000, while the EMA 50 stands at $113,800. The daily RSI indicates a neutral position. This figure indicates a potential rebound if buying pressure increases at the current levels.
To further add to the institutional force, Michael Saylor, the CEO of MicroStrategy, announced the acquisition of 168 BTC at a price of $112,000, which supports the existence of further corporate interest in Bitcoin accumulation despite market dynamics.
The fusion of the continuous ownership by SpaceX, consistent purchases by MicroStrategy, and minimal revocation by whales indicates that more institutions have become confident in the long-term direction of Bitcoin even when there is uncertainty in the short-term.
