Key Notes
- Long-dormant Bitcoin wallets reactivated, releasing $500 million worth of BTC into already weakened market conditions.
- The Treasury Department's CARF proposal would require foreign exchanges to automatically report US citizens' holdings to authorities.
- Strategy purchased 8,178 BTC for $835.6 million despite the downturn, raising total holdings to 649,870 coins.
Bitcoin BTC $91 866 24h volatility: 2.8% Market cap: $1.83 T Vol. 24h: $90.45 B fell to $92,900 on Nov. 17, 2025, under intense selling pressure from long-term holders. Political uncertainty surrounding a crucial US congressional vote on Tuesday deepened risk aversion, bringing BTC price 35% below its recent all-time high near $126,000.
TheStreet reported on Nov. 17 that the White House has begun reviewing a Treasury Department proposal that would grant the IRS expanded visibility into Americans’ foreign crypto holdings. The move represents the administration’s closest step yet toward joining the Crypto-Asset Reporting Framework (CARF) , a global standard for cross-border digital asset disclosure.
Earlier in 2025, the administration publicly endorsed CARF, calling it essential to preventing offshore tax evasion through digital assets.
Established by the OECD in 2022, CARF has been adopted by major economies including Japan, Germany, France, Canada, Italy, and the UK. If implemented, the framework would mirror FATCA-style reporting in crypto, compelling foreign exchanges and custodians to automatically transmit citizens’ account-holder data to US authorities.
The prospect of expanded tax oversight and cross-border compliance arrived at a sensitive moment for crypto markets already contending with political instability, US government shutdown aftershocks, and hawkish Fed speculations.
Michael Saylor Buys the Dip as Analysts Flag Dormant-Wallet Capitulation
The multiple bearish macro catalysts on Nov. 17 placed downward pressure on Bitcoin as the sell-off intensified. On-chain data showed unusually rapid sell-offs among long-dormant Bitcoin holders.
Old Coins Are Moving Again! 🚨
4,668 $BTC aged 3–5 years were just spent — a clear spike in dormant supply activation. pic.twitter.com/ZfdJGs4o0H
— Maartunn (@JA_Maartun) November 17, 2025
JA Maartun, an on-chain analyst at CryptoQuant, warned his 45,000 followers that wallets holding BTC for 3–5 years had suddenly reactivated. Data showed 4,668 BTC—worth roughly $500 million at current prices reintroduced into the short-term market supply under already fragile conditions.
Dormant-wallet movements often weaken rebound prospects because they inject large supply into thin order books. Activity on Nov. 17 confirmed that some long-term holders executed last-minute sell-orders ahead of the critical US Congress vote slated for the following day.
Yet, amid the selling, Michael Saylor extended his aggressive Bitcoin accumulation strategy. As Coinspeaker reported , Strategy disclosed the purchase of 8,178 BTC, valued at $835.6 million at an average price of $102,171. The acquisition pushes the company’s total holdings to 649,870 BTC, accumulated at a combined cost of $48.37 billion and an average entry of $74,433 per coin.
The firm reports a 27.8% BTC yield year-to-date, reinforcing Saylor’s bullish statements in a CNBC interview during the week, hinting that macro-driven declines in Bitcoin prices present entry opportunities for institutional buyers.
Strategy has acquired 8,178 BTC for ~$835.6 million at ~$102,171 per bitcoin and has achieved BTC Yield of 27.8% YTD 2025. As of 11/16/2025, we hodl 649,870 $BTC acquired for ~$48.37 billion at ~$74,433 per bitcoin. $MSTR $STRC $STRD $STRE $STRF $STRK https://t.co/HI1TeYOvQ9
— Michael Saylor (@saylor) November 17, 2025
