U.S. Policy Shifts and Bitcoin Whale Actions Drive Cautious Crypto Market Sentiment

Bitcoin markets are experiencing significant whale activity as ancient holders sell large amounts of BTC, with some rotating into Ethereum and using high leverage. Macro sentiment is influenced by evolving U.S. policy, including the Department of Justice exempting decentralized software developers from certain liabilities and anti-central bank digital currency clauses appearing in key legislation. Meanwhile, the likelihood of a Federal Reserve rate cut in September has declined to 71.5%, adding to overall market caution.