Metaplanet bought 5,268 BTC for around $623 million, pushing its total holdings to 30,823 BTC.
One analyst said bitcoin's key support level sits at $100,000 and a breach would trigger a broader liquidity crunch.
Analysts say the market has moved from capital rotation to a risk-off mode under continued macro uncertainty.
Analysts attributed the decline to significant whale movements switching out bitcoin for ether, and to market recalibration among traders.
One analyst said a hawkish tone from Powell may turn markets into a risk-off mode, potentially to a 30% drop in bitcoin price.
Bitcoin and ether both fell on Tuesday as a result of profit-taking and repositioning ahead of Fed Chair Powell's Jackson Hole speech.
Spot ETF flows and corporate crypto treasuries remain key drivers of the current market cycle, analysts said.
Bitcoin, ether and other altcoins rose Sunday as traders returned to the market following a dip driven by macro uncertainty.
Bitcoin's all-time high monthly close despite notable whale movements in July shows its resilience, one analyst told The Block.
Bitcoin and ether both benefit from the growing trend of firms incorporating the cryptocurrencies into their treasuries, analysts said.
One crypto analyst said the next technical resistance lies near $4.5 trillion, with potential downside risks in macroeconomic conditions.
The Satoshi-era whale's 80,000 BTC surged over 15.4 million percent since April 2011, from $62,400 to $9.6 billion.
The transfer of BTC to Galaxy Digital may be a strategic move to capitalize on bitcoin's recent surge to unprecedented highs.
Bhutan was previously seen moving around its bitcoin at times of market rally, possibly selling off the cryptocurrency for profit.
Bitcoin's rally is boosted by institutional inflows, legislative momentum in the U.S. and heightened macro liquidity, one analyst said.
Bitcoin broke above $120,000 late night Sunday, fueled by institutional demand and approaching crypto legislative discussions in the US.
The $50 billion mark in cumulative net inflows is a defining moment for bitcoin's institutionalization, one analyst commented.
One analyst said Trump's new trade negotiation date of Aug. 1 eased worries of incoming volatility.
Kronos Research CIO Vincent Liu said traders are now watching macro signals to see whether this rally would last long-term.
Analysts say bitcoin is standing at a "delicate" range that could jump at either direction in case of significant news.
One analyst said the longer-term outlook remains optimistic, with a possibility for a renewed push towards $115,000.
Presto Research analyst told The Block that its year-end price forecast for bitcoin stands firm on $210,000.
Analysts said the cryptocurrency may be on its way to set a new record high, while a short-term cooling is also a possibility.
One analyst said bitcoin could retest its all-time high if it holds above the $100,000 line in upcoming sessions.
Bitcoin's rally is fueled by resurging institutional interest, highlighted by Strategy's recent buying, one analyst said.
Hoskinson cited upcoming U.S. stablecoin legislation and the significant increase in crypto users as his reasons.
US Treasury yields rose considerably in recent days, which shows 'shrinking appetite' for risk assets including crypto.
Bitcoin and other major cryptocurrencies added small gains in price late night Monday as investors await Trump's tariff annnouncement.
Analysts said Tuesday's crypto price rally is a 'small bounce' that corrects overly cautious risk-off sentiment.
Bitcoin price continues to drop to its lowest point in months as a result of Trump's recent tariffs announcement.