- K Wave targets 10,000 BTC treasury with $500M financing; confirms 88 BTC purchase amid Bitcoin’s price surge.
- Ethereum whales move $358M ETH overnight: corporate buyers mix with anonymous entities and hacked GMX funds.
With Bitcoin and Ethereum prices rising, several companies announced they will continue buying patterns, adding more digital assets to their reserves. Bitcoin remains the preferred option.
South Korean firm K Wave Media confirmed the purchase of 88 BTC. The company plans to accumulate the cryptocurrency and has arranged financing for these acquisitions. CEO Ted Kim stated their goal is to increase BTC holdings toward 10,000 Bitcoins—requiring approximately $1 billion in total spending—as quickly as possible while maintaining transparency and investor interests.
Additionally, K Wave Media secured a $500 million agreement with Anson Funds. Most of this capital will fund BTC purchases.
Separately, DDC Enterprise will collaborate with Animoca Brands. Animoca will manage DDC’s Bitcoin holdings and receive a share of profits. The two companies allocated $100 million to DDC’s Bitcoin reserves.
Following BTC purchases, ETHNews analysts warn of risks for companies acquiring digital assets, as their own company value outpaces held assets. Experts state this strategy offers no long-term guarantees if corporate spending patterns change.
Ethereum broke back above $2,800 today!
In the past 24 hours, 7 whales/institutions have bought 127,971 $ETH($358M).
Newly created wallet 0x35fb withdrew 54,125 $ETH($151M) from #Kraken in the past 16 hours.https://t.co/5e6AQjMOwt
Abraxas Capital withdrew 40,986 $ETH($114M)… pic.twitter.com/0pmcvZxK7S
— Lookonchain (@lookonchain) July 10, 2025
While Bitcoin attracts more institutional investors, Ethereum also saw activity. Blockchain tracker Lookonchain reported seven large-volume ETH transfers totaling $358 million. Buyers included both identified companies and unknown parties. One transfer involved funds from yesterday’s GMX security incident.
Bitcoin (BTC) is trading at $113,133.42 USD, registering a 3.99% increase over the past 24 hours. This price level marks a major continuation of the bullish trend that has persisted through much of 2025.
From a technical perspective, Bitcoin’s price has decisively broken through the $110,000 psychological resistance, confirming a strong bullish structure. The breakout follows a series of higher highs and higher lows over the past few months, likely supported by a golden cross on the moving averages.
Momentum remains robust, and although indicators like RSI are presumably in overbought territory, the price action reflects strong investor confidence. With no immediate signs of weakness in the trend, support levels near $105,000 and $98,000 may serve as key zones for any minor pullbacks, while resistance lies ahead at $115,000 and $120,000.
Fundamentally, Bitcoin’s strength continues to be anchored by institutional adoption and macroeconomic tailwinds. The 2024 halving event has significantly reduced new supply issuance, and with increasing demand from global investors, the price trajectory has been firmly upward.Â
Recent developments have further fueled bullish sentiment. The U.S. Securities and Exchange Commission has approved the expansion of spot Bitcoin ETFs, opening the door for increased capital inflow from traditional markets.Â
Apple Pay’s integration with third-party Bitcoin wallets represents a significant step toward mainstream adoption in everyday payments. Meanwhile, El Salvador has announced a second issuance of its Bitcoin-backed sovereign bonds, reinforcing the asset’s growing role in national economic strategy.Â
