Bitcoin prices are at a five-week high, and the asset has moved out of its capitulation zone, according to analysts.
Bitcoin momentum is rebuilding, but confirmation has not arrived yet, said analytics platform Swissblock on Monday as BTC tapped a five-week high of $65,700.
“Bitcoin has exited its capitulation regime and is once again inside the transition area,” they added.
Swissblock identified the current area as “where a new impulse begins, or momentum fades back into weakness.”
Where to Next for Bitcoin? It added that the next test is clear and it needs to “reclaim the ignition line” to push above the “next Inflection point.” “Every sustained rally began with this sequence, but not every transition has succeeded,” it said.
Bitcoin has been in the capitulation zone since early June when it fell below $70,000, having remained below it ever since. It hit a current cycle low of around $58,000 at the end of June and has been trending higher ever since, gaining 12% over the past three weeks, which has moved it into a higher momentum or transition zone.
Is a bitcoin:native breakout on the verge of happening?
Momentum is rebuilding, but confirmation has not arrived yet.
Bitcoin has exited its Capitulation regime and is once again inside the Transition Area.
This is where a new impulse begins or momentum fades back into… pic.twitter.com/m0GBVttR7n
— Swissblock (@swissblock__) July 20, 2026
CryptoQuant analyst ‘Darkfost’ said on Monday that Bitcoin has spent 95% of its time at a higher MVRV. This metric compares market cap, calculated as price multiplied by supply, with its realized value, which reflects the price of each coin when it last moved.
“This shows just how significantly undervalued BTC is today compared to its historical evolution.”
Meanwhile, crypto trader ‘Daan’ said the $65,000 level has capped price for the entirety of July so far, before adding:
You may also like: Bitcoin and Risk Assets Under Pressure as 30-Year Yields Push Above 5% What Does $2.3B Stablecoin Exodus From Binance and Bybit Mean for Bitcoin Analyst Says Waiting for Bitcoin’s Four-Year Cycle Bottom Could Be a Costly Mistake “But I do think the longer price spends here, the more likely the $65K level is to break. Especially with the higher lows being made over the past 3 weeks.”
BTC Price Outlook Bitcoin was trading at $65,500 at the time of writing, following a 1% gain on the day. It tapped $65,700 in late trading on Monday, which is its highest level since June 15 when it topped $67,000 briefly.
Zooming out shows that the asset remains within a seven-week range-bound channel, but at resistance at the upper bounds of that channel.
“If BTC breaks above $66K, the next key level to watch is $66,700,” said Alphractal founder and CEO Joao Wedson.
“This is the Structural Midline, a key on-chain level from the Structural Market Bands that has historically acted as a highly reliable reaction zone,” he said before adding that bears will likely try to regain control around this area.
Bitcoin hits a two-week high near $65,500 as the chip trade turns back into a tailwind.(dujin yun/Pixabay)Summary
Bitcoin climbed to a two-week high around $65,500 as a rebound in Asian semiconductor stocks fueled a broader risk rally, with ether and several major tokens also advancing.The move has been supported by five straight days of inflows into U.S. spot bitcoin ETFs totaling more than $600 million, marking the strongest stretch of institutional buying since mid-July.Traders see the Federal Reserve’s late-July meeting as the key test for the rally, with low but fair crypto prices, subdued spot volumes and the prospect of further rate hikes all limiting conviction.Bitcoin climbed to about $65,500 on Tuesday, a two-week high, as the semiconductor selloff that dragged crypto lower last week reversed and Asian chip stocks led a broad risk rally.
The largest cryptocurrency rose 1% on the day and 5% on the week, with roughly $33 billion changing hands. Ether was the stronger of the two majors again at $1,922, up 3% on the day and 8% over seven sessions. XRP added 3% to $1.13 and is up 6% on the week, Solana rose 2% to $78, BNB held at $574 and dogecoin was flat. Hyperliquid's HYPE gained 4% to $63 but remains the only major underwater over the week.
The rebound started where last week's damage did. MSCI's Asia Pacific equities gauge climbed 2%, its first gain in four sessions, with Samsung and Taiwan Semiconductor the biggest contributors.
South Korea and Taiwan benchmarks each rose about 4%, and a tech-heavy mainland China gauge jumped almost 7% as state-linked institutions stepped in. Japan's Nikkei rose 3% after slipping into correction on Friday. The Chinese AI shock that hit chip stocks last week has, for now, given way to buyers returning to the same names.
Two other supports lined up behind the move. U.S. spot bitcoin ETFs have now drawn inflows for five straight sessions totaling more than $600 million, the most sustained institutional buying since mid-July and a reversal of the eight-week outflow run that ran through late June.
And oil, which had climbed for two days on the war, pulled back, with Brent falling 1% to about $88.58 as Iran said mediators were circulating proposals to ease hostilities, including a reported suggestion for a 10-day halt in strikes.
"Current bitcoin and ether prices are low but fair, given the macro uncertainties pervading markets," said Jeff Mei, chief operating officer at BTSE, who pointed to the Fed meeting as the event traders are positioned around.
"Traders expect rates to hold steady but are looking for more signals as to what's to come later in the year,” Mei added.
The read on that meeting is where the rally meets its limit. The Federal Reserve gathers July 28 and 29, and markets put the odds of a July rate increase at about 15%, though a September move is still live.
Spot-market volume across crypto stayed subdued even as prices rose, the sign of a tape lifted by returning risk appetite rather than fresh conviction, and higher oil and Treasury yields remain the levers that could keep the Fed hawkish and cap risk assets.
The same force that set the direction all month is simply pointing the other way now. Bitcoin fell last week because Asian chip stocks did, and it is at a two-week high this week because they bounced.
Bitcoin futures and options show whales still prefer hedging downside risks as socio-economic risks mount.Rising Treasury yields and declines in AI stocks fuel risk aversion, yet BTC’s strength signals continued decoupling.Bitcoin (BTC) showed relative strength over the past week, despite failing to break above $65,500. More importantly, the cryptocurrency has decoupled from traditional markets as investors took profits in memory-chip makers amid fears of excessive valuations in the artificial intelligence sector. Still, judging by Bitcoin’s derivative metrics, top traders are not particularly confident about a rally toward $70,000.
The Bitcoin perpetual futures annualized funding rate stood at a neutral 8% mark on Monday, flat from one week prior. Excessive demand for bullish leverage drives the indicator above the 12% level, which last occurred on July 10. It is unclear if Bitcoin traders’ lack of optimism is somewhat related to contagion fears from the sell-off in tech stocks or the war in Iran.
Nasdaq-100 futures (left) vs. Bitcoin/USD (right). Source: TradingView
The tech-heavy Nasdaq-100 Index dropped below 28,800 on Friday for the first time in five weeks, while Bitcoin displayed strength over the weekend and eventually broke above $65,000 on Monday. Strategy announced a successful raise of $263 million in cash by selling common stock during the prior week, easing concerns of potential Bitcoin sell pressure.
Investors became extremely anxious about Strategy’s $1.76 billion annual dividend payout to its preferred perpetual equity shareholders, in addition to the $2.6 billion of convertible debt maturing in 2028 and 2029. By raising cash reserves to a comfortable $3.22 billion, the company hopes to eliminate the uncertainty caused by unrealized Bitcoin losses held in its balance sheet.
Bitcoin 30-day options delta skew (put-call) at Deribit. Source: Laevitas
The Bitcoin 30-day options delta skew stood at 13% on Monday, meaning puts (sell) traded at a premium relative to calls (buy). Under neutral conditions, the indicator should range from -6% to +6%. Despite the modest improvement from the prior week’s 19% delta skew, whales and market makers remain reluctant to hold downside price exposure.
Bitcoin’s resilience amid AI stocks weakness and increased risk aversionThe sell-off in AI-related stocks has also caused investors to act more risk-averse. The sharp declines in the shares of IBM, SanDisk, Oracle, ARM, SpaceX and Intel coincided with a rally in five-year US Treasury yields. Traders demanded higher returns to hold government bonds, indicating they anticipate further expansionary monetary measures due to the ongoing fiscal debt issue.
Gold/USD (left) vs. US five-year Treasury yield (right): Source: TradingView
The US five-year Treasury yield surged to 4.33% on Monday, up from 4.22% two weeks prior. Curiously, gold prices have been in a downtrend since mid-May, suggesting that no asset class has been immune to the deteriorating global economic growth outlook and ongoing geopolitical tensions in the Middle East.
On Monday, US President Donald Trump vowed to retaliate against Iran for a missile strike that killed US soldiers in Jordan, putting risk assets on high alert. Bitcoin’s jump to $65,500 strengthens the case for further decoupling from traditional finance markets amid signs of monetary base expansion. Despite a lack of bullishness in BTC derivatives markets, a rally toward $70,000 could be ignited by weak corporate earnings, especially in the AI sector.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Bitcoin hovered close to $64,200 on Monday morning, maintaining a narrow trading range ahead of the Wall Street open. Traders focused on the influence of semiconductor stocks, ETF inflows, and the $62,500 to $65,000 price band, watching to see whether the top cryptocurrency can reclaim higher levels or revisit recent lows.
Bitcoin holds key range before US market openDuring pre-market hours, Bitcoin traded around $64,245, according to analyst Ted Pillows. The asset remained locked between support at $62,500 and resistance at $65,000, a range that persisted throughout the weekend after US stock markets declined on Friday.
Ether was stable near $1,872, while XRP hovered at $1.09. These moves occurred while US equity markets were closed, leaving crypto to trade mostly on its own momentum ahead of the new week.
Stock market performance continued to weigh on sentiment. Pillows said the current session will provide the first significant test of the rebound seen over the weekend. “I’m watching the clock this morning, the bounce held the whole weekend, BTC is near $64,200 and the fear gauge has thawed, but the test I flagged is now hours away, not days,” Pillows posted on X, noting his cautious stance before the open because equities had been closed during the crypto rally.
BTC has held above $64,000 following a stock selloff, but the key decision comes as US markets open for the week, according to market participants.
The Crypto Fear and Greed Index rose from 25 to 28, signaling a slight improvement in sentiment but still reflecting lingering caution in the market after the recent downturn in chip stocks.
Semiconductors and equities pressure crypto momentumOn Friday, the S&P 500 fell 1.01%, the Nasdaq Composite dropped 1.4%, and the Dow Jones slipped 0.77%. Analysts attributed much of this pressure to major semiconductor firms after Taiwan Semiconductor Manufacturing Company (TSMC) shared cautious capital spending guidance. The performance of semiconductor stocks has played a growing role in influencing digital asset prices because of the sector’s ties to risk appetite and broader technology trends.
Gold surged to a new high near $4,017, highlighting persistent risk-off sentiment. Meanwhile, US 10-year Treasury yields remained unchanged at roughly 4.55%, with real yields close to 2.31%.
Ted Pillows highlighted that Bitcoin’s price action is increasingly correlated with the Nasdaq. If semiconductors stabilize, he observed, Bitcoin could have room to rise toward $65,000. However, renewed selling in equities might drag prices back toward the lower end of the range.
Mini dictionary: TSMC (Taiwan Semiconductor Manufacturing Company) — A multinational semiconductor contract manufacturing firm based in Taiwan, recognized as the world’s largest and leading chip foundry supplying global technology companies.
If the stock market weakness resumes, Bitcoin could come under renewed pressure, increasing the risk of a move below $62,500 support.
AssetFriday’s PerformanceCurrent LevelS&P 500-1.01%–Nasdaq Composite-1.4%–Dow Jones-0.77%–Gold+ New high$4,017Bitcoin–$64,200Ethereum–$1,872XRP–$1.09ETF inflows and Fed blackout keep crypto traders waryBitcoin ETFs logged four consecutive days of net inflows as of Friday, led by the iShares Bitcoin Trust (IBIT), which added $132.3 million on the last reported day. Ethereum ETFs also returned to positive inflows after seeing outflows a day prior.
Pillows also noted the impact of the current Federal Reserve “blackout period” ahead of the Federal Open Market Committee (FOMC) meeting scheduled for July 28-29. With no official Fed commentary to steer rate expectations this week, attention turns to stock market developments and ETF flows. Bitcoin open interest remained close to $48.5 billion, with minimal liquidation activity over the weekend.
This combination keeps the immediate outlook uncertain. If Bitcoin maintains support above $62,500, the next resistance to watch is $65,000. Should selling pressure return at the open, traders may see a renewed test of lower support levels.
Mini dictionary: Fed blackout period — The time ahead of each Federal Reserve meeting when central bank officials refrain from public statements about monetary policy decisions to avoid influencing markets.
ETF inflows remain positive, but with the Fed silent and equities under pressure, traders are closely monitoring Bitcoin’s ability to hold its current range heading into the week.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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The broader cryptocurrency market shows early signs of a bullish recovery, with Bitcoin (BTC) rising above $65,000 on Tuesday, amid improving retail sentiment. Top altcoins, including Ripple (XRP) and Cardano (ADA), are gaining bullish momentum, while Dogecoin (DOGE) continues to consolidate, holding above a crucial support zone.
Ripple regains bullish momentumXRP remains below both the 50-day and 200-day Exponential Moving Averages (EMAs) at $1.1456 and $1.4678, respectively, keeping the pair in a capped, mildly bearish near-term structure. A decisive close above the 50-day EMA at $1.1456 could ease the current downside bias, ahead of a more substantial barrier at the $1.2543 to $1.2700 supply zone.
Momentum, however, is more constructive than price action suggests, with the Moving Average Convergence Divergence (MACD) and its signal line maintaining an upward trend, suggesting a bullish profile. Meanwhile, the Relative Strength Index (RSI) around 53 points to steady, non-overbought conditions that could support further recovery.
XRP/USDT daily price chart.On the downside, the recent reaction low zone just below the $1.0000 psychological support becomes the next area to watch, as a decisive move below it would likely invite renewed selling pressure.
Cardano extends gains toward its 50-day EMACardano holds above $0.1700 at press time on Tuesday, extending the previous day's gains. However, the altcoin remains below both the 50-day EMA at $0.1772 and the 200-day EMA at $0.2882, which keeps the broader tone bearish.
The MACD rises above its signal line after a minor consolidation, rebuilding a positive histogram profile, while the RSI at 53 hints at modest recovery momentum, yet the pair remains capped by the nearby 50-day EMA overhead.
Looking up, if ADA clears above $0.1772, the potential breakout rally could target the support-turned-resistance level at $0.2205.
ADA/USDT daily price chart.Looking down, the key structural floor is the horizontal support at $0.1486, which marks the initial bearish target if selling pressure resumes.
Dogecoin consolidates near key support levelDogecoin maintains a bearish near‑term bias as it stays below the 50‑day EMA at $0.0798 and the 200‑day EMA at $0.1040. The meme coin is consolidating just above the $0.0700 handle after failing to hold the prior horizontal resistance at $0.0777.
The RSI at 39 hints at subdued but stabilizing downside momentum, and the MACD line hovering slightly above its signal line suggests modest bullish attempts within an overall capped structure.
Immediate resistance appears at $0.0777, followed by the 50‑day EMA at $0.0798; only a sustained break above these levels would ease selling pressure and expose the next key barrier at $0.0879.
DOGE/USDT daily price chart.Initial support is seen at $0.0700, where a daily close would likely extend the bearish phase toward $0.0642.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
After weeks of steady decline, Shiba Inu has shown a slight but noteworthy recovery, with the well-known meme asset rising by about 1.7% during the most recent trading session. The move is notable because it came after a protracted period of diminishing momentum and almost constant selling pressure, even though it is insufficient to change SHIB's overall bearish trend.
SHIB has recovered from local lows set earlier in July and is currently trading at about $0.0000114. The rebound occurs as the token makes an effort to hold steady above a crucial support area that has drawn buyers on multiple occasions over the previous few weeks. Technically speaking, the shift seems to be motivated more by seller fatigue than by aggressive new purchases.
SHIB/USDT Chart by TradingViewSHIB is still below all significant moving averages, according to the chart. The long-term market structure is still bearish because the 50-day EMA is close to $0.0000118 and the 100-day and 200-day trend indicators are still significantly higher. Nonetheless, a number of indicators suggest that the downward momentum has started to wane. The RSI is now getting close to the 42 level after recovering from oversold territory.
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This shows that selling pressure is no longer controlling the market to the same extent as it was in June and early July, even though it is still below neutral. The concept of stabilization is also supported by volume dynamics. Speculative mania is not driving the current rebound because trading activity has not skyrocketed. Rather, SHIB seems to be establishing a short-term base following a protracted decline. Overhead resistance continues to be the largest obstacle for bulls.
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The $0.0000118 and $0.0000120 resistance levels have now turned into resistance zones. A successful move above those levels could pave the way for the 100-day moving average and would be buyers' first significant technical victory in months.
On the downside, SHIB would soon be vulnerable to another test of recent lows if support were not maintained at current levels. Traders should not assume that a single green session signals the start of a more significant trend reversal, due to the asset's propensity for extreme volatility.
Ethereum Yet to Be TestedAs the second-largest cryptocurrency continues to recover from the severe June sell-off, Ethereum is getting close to what might be its most significant resistance test in recent months. ETH has risen back toward the $1,900 area after recovering from lows close to $1,550, putting it squarely below a significant technical barrier that may decide whether a move toward $2,000 materializes.
Ethereum is currently trading at about $1,870 and has established a series of higher highs and higher lows throughout July. Growing momentum and a successful recovery of the 50-day and 100-day moving averages have bolstered this comeback. Bulls now have a stronger base than they did a few weeks ago because the 50-day EMA around $1,796 and the 100-day EMA around $1,732 have moved into support. The most significant obstacle is still ahead.
ETH/USDT Chart by TradingViewThe 200-day moving average for Ethereum is currently being tested close to $1,936, a level that has frequently served as resistance throughout 2025. This region is more significant than just a moving average. Additionally, ETH would return above a crucial psychological threshold and greatly improve market sentiment if it broke above the 200-day trend line. The current price structure indicates a rise in buyer aggression.
Despite sporadic profit-taking, Ethereum formed a robust V-shaped recovery after the capitulation event in June and has continued to push higher. Throughout the advance, trading volume has stayed high, suggesting real participation as opposed to a purely speculative bounce.
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Momentum metrics lend credence to the bullish argument. The RSI has increased to about 60, indicating that demand is getting stronger, while it is still below overbought territory. In the event that resistance starts to wane, this allows for another leg higher.
The $2,000 level, which is still the next important psychological and technical target, would probably be reached with a clear close above $1,936. If the price breaks above $2,000, more momentum buying may occur, forcing sidelined investors to return to the market. Failure at current levels, though, might cause a brief decline toward support at $1,800. Such a move would postpone Ethereum's attempt to recover one of the most significant price levels in the market, even though it would not necessarily invalidate the recovery.
Bitcoin's Momentum Is ThereAfter recovering from its dramatic June correction, Bitcoin is quietly gaining momentum. The current technical structure indicates that the market still has room to rise before running into significant resistance. As buyers continue to defend higher lows, the path toward $68,000 seems more plausible, with Bitcoin currently trading at $64,600.
Bitcoin's successful comeback above the 50-day and 100-day moving averages is the chart's most significant development. In contrast to the market structure observed only a few weeks ago, the 50-day EMA near $63,700 and the 100-day EMA around $63,100 are now functioning as support rather than resistance.
BTC/USDT Chart by TradingViewAfter Bitcoin briefly fell below $60,000 due to a sharp sell-off, buyers intervened forcefully, setting off a series of higher lows. The recovery has been gradual rather than rapid, which frequently provides a stronger basis for long-term upward movement. Technically speaking, the next major barrier does not appear until the $68,000 range.
This region is in line with the 200-day moving average, which is currently close to $68,100. Traders are likely to see this zone as the first significant test for the continuing recovery, since long-term trend indicators frequently attract significant selling activity. The bullish argument is still supported by momentum indicators.
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The RSI has increased above 54, indicating that demand is improving without entering overbought territory. This is significant because it implies that Bitcoin still has potential to grow before its momentum becomes stretched.
Following the June panic, volume has also stabilized, suggesting that the market is no longer going through the aggressive liquidation phase that defined the previous decline. Rather, as confidence reappears, participants seem to be progressively rebuilding their positions. But the overall trend is still uneven.
Even though the short-term outlook has significantly improved, Bitcoin is still far from the highs set earlier in the year and is still trading below its 200-day moving average. Bulls must demonstrate that the current comeback is more than just a passing rally. Technically, a move toward $68,000 seems warranted if the current support levels hold.
Reclaiming the 200-day trend line could significantly boost market sentiment and bolster the case for a more significant recovery during the second half of the year, making such a rally a crucial turning point. With $68,000 emerging as the next significant target, Bitcoin's chart currently indicates that the market still has unresolved business to the upside.
Major cryptocurrencies are beginning to show signs of recovery after a challenging stretch marked by consistent selling and heightened volatility. Shiba Inu, Ethereum, and Bitcoin have each rebounded from their July lows, testing important resistance zones that could determine the direction of the broader market in the coming weeks.
Shiba Inu holds support, buyers show cautionShiba Inu, a well-known meme-based cryptocurrency, rose by 1.7% in the most recent session, marking a pause in its earlier slide. SHIB recovered from local lows reached earlier in July and is now trading around $0.0000114, attempting to stabilize above a key support area that has previously attracted buyer interest.
Technical analysis indicates that the move is propelled largely by a slowdown in selling pressure, rather than the emergence of significant new buying. With the price still below all major moving averages, including the 50-day exponential moving average (EMA) at $0.0000118, SHIB maintains a bearish long-term structure.
Momentum indicators provide mixed signals. The relative strength index (RSI) has improved from oversold territory, now approaching 42, reflecting a reduction in selling momentum compared with June and early July. Trading volume remains subdued, indicating that speculative fervor is not driving the recent rebound.
For the market to shift decisively, SHIB must overcome resistance at $0.0000118 and $0.0000120. A move above those barriers may enable the price to target the 100-day moving average, which would represent a meaningful technical achievement for buyers.
Overhead resistance at $0.0000118 and $0.0000120 has become the most significant challenge facing bulls; only a successful breakout above these levels could turn market sentiment in their favor.
Should SHIB fail to maintain support at current prices, the token could be exposed to another test of recent lows.
Ethereum targets key resistance after V-shaped recoveryEthereum, the second-largest cryptocurrency by market value, is approaching a major technical milestone after rebounding from sharp June declines. ETH is currently trading near $1,870, having climbed from lows close to $1,550 this month.
Throughout July, Ethereum established a sequence of higher highs and higher lows, reclaiming its 50-day and 100-day moving averages. These short-term averages, now at $1,796 and $1,732, have shifted from resistance to support, strengthening the bullish case.
The main obstacle for Ethereum is the 200-day moving average, positioned close to $1,936. This level has frequently acted as resistance so far in 2025, and a breakout would not only shift the technical outlook, but could also restore positive sentiment among investors.
Momentum signals are improving. The RSI has climbed to around 60, remaining below overbought territory but highlighting renewed demand. Also, sustained trading volume underscores that participation is broad-based and not limited to speculative traders.
A confirmed break above $1,936 could open the way to the next psychological target at $2,000, potentially attracting more buyers and further momentum. However, failure to surpass resistance might see ETH revisit the $1,800 support zone, which could delay its recovery.
Ethereum LevelCurrent Price / IndicatorStatus50-day EMA$1,796Support100-day EMA$1,732Support200-day EMA$1,936Key ResistancePsychological Resistance$2,000Potential TargetMini dictionary: Exponential Moving Average (EMA), a type of moving average that gives more weight to recent prices, providing a more responsive indicator of trend direction compared to simple moving averages.
Bitcoin sets sights on $68,000 resistanceBitcoin has gradually rebounded from its steep June correction, regaining strength as buyers step in to defend higher lows. The largest cryptocurrency currently trades at $64,600, showing continued recovery momentum ahead of the key $68,000 resistance zone.
BTC’s return above its 50-day EMA at $63,700 and 100-day EMA at $63,100 marks a transition where former resistance levels now provide new support. This technical structure suggests improved confidence compared with recent weeks.
Buyers responded decisively after Bitcoin briefly dipped below $60,000, resulting in a steady, rather than rapid, climb. The next significant resistance is the 200-day EMA, located near $68,100, which has historically generated notable selling activity.
Momentum indicators continue to favor an upward move. The RSI has risen above 54, implying healthier demand without nearing the overbought threshold. Stability in trading volume further signals a gradual return of market participants following June’s sell-off.
The $68,000 region represents both a technical and psychological target for Bitcoin; if sustained support holds and the price reclaims the 200-day average, the rally could accelerate and meaningfully boost sentiment for the second half of the year.
Despite the positive short-term signals, Bitcoin remains well below its peak from earlier in 2025. Investors are watching closely to determine whether the recovery can maintain its momentum and break through key resistance levels, setting the stage for further gains.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Abraxas Capital withdrew 20,000 ETH from Aave, valued at approximately $38.47 million.
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ZHIPU has rebounded 31% from its recent low, with new short positions opened against the trend losing nearly 40% of their principal.
According to Hyperinsight monitoring, ZHIPU on Hyperliquid saw a sharp rebound today to $149.52, with a 31.1% gain from its intraday low to high. As of press time, ZHIPU trades at $146.71. Background: Zhipu (ZHIPU) completed a placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released its 2.8-trillion-parameter open-source model Kimi K3, which intensified market concerns over China’s large language model competitive landscape, leading to a sustained slump. The stock price halved after the H-share offering, and today it has recouped a portion of those losses. During this rebound, an address starting with 0x52e6 took a contrarian short position early today, with all orders opened at the midpoint of the rally. The address initiated shorts when the stock rose ~12% from its low, adding to positions from $127.5 to $143.2. The position then saw continued gains before noon, leaving only ~$17 of buffer to its liquidation price. It currently holds ZHIPU short positions with 5x isolated margin, worth ~$198,700, with a liquidation price of ~$163.83. The position has an unrealized loss of ~$14,100, a return of ~-38.1%, and has nearly lost 40% of its initial margin. Monitoring shows that, aside from this largest loss-making position, there are 7 new ZHIPU positions exceeding $50,000 opened in the last 2-3 hours during today’s rebound—all short positions, totaling ~$953,200 in value, all currently underwater with a combined unrealized loss of ~$70,800. In contrast, among long positions exceeding $100,000, the average cost is ~$149.66, only ~2% above the current price. Currently, only the largest long position near $159.41 faces real liquidation pressure; the cost lines of the other four long positions have already been reclaimed by the current price.
Bitcoin price climbed above $65,000 as renewed regulatory optimism strengthened sentiment across the cryptocurrency market on Tuesday.
The total crypto market capitalization rose 1.56% within 24 hours, reaching $2.24 trillion overall. There was also an increase in on-chain activity and inflows into United States spot exchange-traded funds which was beneficial to Bitcoin. The recovery has put the $66,000 resistance level within reach in case the momentum is strong.
CLARITY Act Breakthrough Lifts Market Confidence Investor confidence was boosted following the acceptance of an ethics clause by President Donald Trump associated with the CLARITY Act. The agreement could remove a key obstacle that delayed negotiations for several months.
A source in the industry indicated that the deal came up Monday evening after negotiations between the legislators and the administration officials. The clause concerns limiting the manner in which government officials can use digital resources when they are in office.
Trump Clears Path For CLARITY Act Vote With Ethics Deal
US President Donald Trump has agreed to an ethics provision that could unlock passage of major crypto legislation.
An industry source told The Block the agreement came Monday evening after months of stalled talks.
The… pic.twitter.com/loQB0Sykvu
— BSCN (@BSCNews) July 21, 2026
The bill would separate the regulation of digital assets between the Securities and Exchange Commission and Commodity Futures Trading Commission. Congress needs to do it before the end of early August where congress recess may postpone further development.
Upon passing, the bill would be reintroduced in the House and then go to Trump to be approved. Ethereum price has surged to over $1,900 as part of the wider rally. XRP also managed to stay above $1.20 following the increase of about 5% in the last week.
Bitcoin Open Interest Climbs as Derivatives Volume Surges 95% The Bitcoin derivatives activity intensified as the volume of trading increased by 95% to reach 59.67 billion in the course of the session. The open interest rose by 2.36% to $49.07 billion indicating traders were increasing positions even as the market experienced more uncertainty.
Source: Coinglass data Options trading saw the greatest action, with a gain of 138% and a total volume of $3.25 billion. Meanwhile, options open interest rose 1.86% to $32.67 billion, indicating steady demand for hedging strategies. Generally, the numbers indicate more involvement in the Bitcoin futures and options exchanges, with the most significant growth in transaction volumes.
Spot Bitcoin ETFs Attract $227M as Inflow Streak Reaches 5 Days U.S. spot Bitcoin ETFs attracted $227 million in net inflows on July 20, extending their positive streak to five sessions.
The daily inflows also increased the total ETF net assets to about 79.16 billion as per the market data accompanying.
Spot Ethereum ETFs recorded $38.09 million in net inflows during the same trading session.
Spot Bitcoin ETFs Record $227M in Net Inflows on July 20
On July 20 (ET), U.S. spot Bitcoin ETFs recorded total net inflows of $227 million, marking the fifth consecutive day of net inflows. U.S. spot Ethereum ETFs saw total net inflows of $38.09 million. pic.twitter.com/bXok2eaMkN
— Wu Blockchain (@WuBlockchain) July 21, 2026
The numbers depicted that institutional demand was still alive in the major cryptocurrency investment products.
The sustained inflows may aid in wider market sentiment in future trading sessions.
Bitcoin Price Outlook: Will BTC Reach $66,000 After This Breakout? The latest BTC price soared to $65,442, extending its recovery as buyers maintained control above the $65,000 support zone.
The four-hour chart showed Bitcoin prices between $65,140 and $65,623, with consistent demand around the latest highs. The asset increased by 3% in the previous candle, which illustrates increased purchasing activity in the market.
The MACD was bullish with its main line above the signal line. Its positive histogram also reflected positive upward momentum. The RSI, in the meantime, stood at 62, still not in the overbought range.
An established breakout at the higher end of $66,000 would open the way to $67,000 and then $68,000. Nonetheless, to maintain the short-term bullish setup, the future Bitcoin outlook will be required to maintain a value of $65,000.
Source: BTC/USDT 4-hour chart: TradingView Any drop below that support may propel BTC to $64,000. The additional weakness can reveal the exposure of the $63,000, wherein buyers might seek to recover once more.
This Tuesday, July 21, 2026, Russia is about to take a new step in the regulation of digital assets. The State Duma is indeed beginning the final reading of a bill that will regulate investors, crypto platforms, as well as cross-border payments. Analysts already see it as a double-edged strategy: attracting foreign capital without relaxing control over the domestic market.
In Brief The State Duma of the Russian Federation will examine bill no. 1194918-8 in second and third readings. The text creates the first comprehensive legal framework for digital assets in Russia, under the supervision of the Bank of Russia. If adopted, the main provisions will come into effect as of September 1, 2026. A Reform That Promises Legal Status for Crypto Assets Submitted by the Russian government on April 1, 2026, bill no. 1194918-8 is titled “On Digital Currency and Digital Rights.” It passed its first reading on April 21, 2026, with 327 votes in favor out of 340 voters. This was followed by approval by the State Duma’s financial markets committee, chaired by Anatoly Aksakov in early July. This Tuesday, July 21, it will move to second and third readings for a final vote.
Already, crypto analysts highlight two key points:
The new law legally classifies cryptocurrency as a property asset and not as legal tender. It also officially recognizes crypto-assets as property rights while entrusting supervision of the sector to the Bank of Russia. In other words, the ruble remains the only currency having legal tender in Russia. Furthermore, it is entirely possible (and legal!) to hold bitcoin, Ether, or any other crypto asset. Russians will even be able to buy or sell digital assets. However, they will not be allowed to use them to pay for everyday purchases.
For some crypto experts, the reading of this bill is thus clear: Russia considers digital assets as financial instruments rather than as currency.
Is the Russian Crypto Market on the Brink of Change? Bill no. 1194918-8 classifies crypto investors into two categories:
qualified; non-qualified. The first is a status regulated by Article 51.2 of the federal law “On the Securities Market” (law no. 39-FZ). To obtain it, at least one of the following criteria must be met:
assets or financial holdings exceeding a certain threshold (in the order of several million rubles, the threshold raised by the Bank of Russia in 2025); proven professional experience in financial markets; a diploma or specific certification recognized by the Bank of Russia; or, for legal entities, size criteria (equity, turnover) that effectively make them institutional players (insurers, management companies, investment funds…). The second group covers the vast majority of individuals. If the new crypto law is passed, they will see their investments capped at 300,000 rubles per year when purchasing crypto assets through a regulated intermediary. This represents between $3,800 and $4,000. For international transfers, the annual cap is 100,000 rubles.
Qualified investors will benefit from a more flexible regime. According to RBC, they will be able to:
acquire up to 3 million rubles worth of cryptocurrencies per year; transfer up to 1 million rubles abroad. Another key element: no purchase limit.
The Crypto Law Also Provides Enhanced Control Over Intermediaries The reform requires a license from the Bank of Russia for all crypto exchanges. The same applies to brokers, custodians, and other intermediaries. Licensed platforms could even act as tax agents. In other words, they will be authorized to directly collect income tax from crypto investors. Unauthorized exchanges could be banned starting July 2027. This date corresponds to the entry into force of the new crypto law if approved by the Duma.
As for mining, it remains under the supervision of the Federal Tax Service, not the Bank of Russia. This distinction reflects the legalization of mining by a law signed by Vladimir Putin in 2024.
An important technical detail: the bill dropped an initial requirement to disclose individual wallet addresses. Reporting will focus on balances and transaction flows.
Decrypting: private crypto wallets could interact with the licensed Russian infrastructure. However, enforcement rules remain to be clarified. The text does not name any specific crypto (neither Bitcoin, nor Ethereum, nor stablecoins). This leaves the door open to any digital currency deemed useful for foreign trade.
A Fully Assumed Crypto Strategy Analysts agree on one point: the timing of the Russian Parliament is no accident. Since 2022, Western sanctions have systematically cut Russia off from the traditional financial infrastructure. This notably includes the exclusion of certain Russian institutions from the SWIFT network. The bill thus constitutes a response to a structural constraint: making cross-border payments when conventional channels are locked.
That’s not all! The Duma vote also comes at a moment of global regulatory convergence. In the United States, the CLARITY Act is gaining ground in Congress. In Europe, the MiCA regulation is being implemented. In Asia, Singapore, Hong Kong, and Japan are refining their frameworks. Russia, for its part, chooses a distinct path: not integrating crypto into an existing financial market, but transforming it into a monetary sovereignty infrastructure.
For investors, this implies two things:
On one hand, cross-border legalization strengthens bitcoin’s status as a neutral and borderless asset. On the other hand, liquidity concentration in state operators’ hands and sanction risks limit immediate appeal. One thing is certain: through its approach, Russia reaffirms its desire to integrate crypto-assets into its financial architecture. The next closely watched step: the publication of implementing regulations by the Bank of Russia.
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Ariela R.
My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Leading cryptocurrencies traded mixed on Monday as escalating geopolitical tensions curbed investors’ risk appetite.
Crypto Trading Volume SpikesBitcoin traded in the $65,000 area through most of the day as 24‑hour volume increased 92%. Ethereum continued to face strong resistance around the $1,915, while XRP edged higher.
More than $245 million in cryptocurrency positions were liquidated over the past 24 hours, with bearish shorts taking the heaviest losses, according to Coinglass data.
Bitcoin’s open interest rose 2.20% over the last 24 hours. Retail derivatives traders on Binance turned neutral on the flagship cryptocurrency, while whales stayed bullish.
"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.30 trillion, representing a 0.66% increase over the last 24 hours.
Stock Market Closes LowerStocks closed in the red on Monday. The Dow Jones Industrial Average slid 307.16 points, or 0.59%, to close at 51,839.26. The S&P 500 declined 0.19% to close at 7,443.28, while the tech-heavy Nasdaq Composite fell 0.05% to end at 25,508.07.
The U.S. military said it initiated a new round of strikes against Iran even as President Donald Trump said via his Truth Social that Iran would pay for the deaths of American soldiers “many times over.”
This development comes after Iranian Foreign Minister Seyed Abbas Araghchi said that the U.S. would lift its naval blockade of the Strait of Hormuz and begin releasing frozen Iranian assets.
Will Momentum Fizzle Out?Blockchain analytics firm Santiment noted that the average short-term holders of Bitcoin and Ethereum were in “slight profit,” with the 30-day Market Value to Realized Value back above 0%.
“Positive MVRVs tell us the rebound is real, while also reminding bulls that short-term gains can invite faster selloffs if momentum starts cooling,” the research firm added.
Ali Martinez, a widely followed cryptocurrency analyst and trader, stated that Ethereum must hold $1,850 as support to target the next upside at $2,300.
Photo Courtesy: Marc Bruxelle on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
Dogecoin co-founder Billy Markus has dismissed concerns over the network's security model, telling critics to revisit Satoshi Nakamoto's Bitcoin white paper. The remarks came in response to a debate sparked by Dogecoin Foundation developer Paulo Vidal, who questioned whether Dogecoin relies too heavily on Litecoin for its security.
The Debate Over Merge Mining Dependency Vidal's concern centres on Dogecoin's use of Auxiliary Proof of Work (AuxPoW), the mechanism that enables merged mining. Under this arrangement, miners can secure multiple blockchains simultaneously using the same computational work. In practice, a miner solving a block on the Litecoin network can submit the same solution to Dogecoin, earning rewards on both chains without spending any additional energy. Dogecoin and Litecoin implemented merged mining in August 2014, before which Dogecoin faced potential security risks due to its smaller hashrate, making it vulnerable to 51% attacks. Within one month of the switch, Dogecoin's hashrate increased by more than 1,500% as large mining pools widened their operations.
Vidal's argument is that by not having its own independent mining base, Dogecoin's security remains tied to the activity of other blockchains. Fellow developer Chromatic X pushed back on this view, clarifying that Dogecoin does not depend solely on Litecoin but rather on all merge-mined layer-one Scrypt coins.
Markus: Miners Follow Incentives, Not Loyalty Markus, who posts on X under the handle @shibetoshi, took a straightforward position. He argued that security follows economic incentives rather than any particular blockchain allegiance. He noted that $DOGE remains the most profitable Scrypt coin to mine, adding that AuxPoW simply allows it to be mined alongside any other Scrypt coin. Calling the idea of removing merged mining "dumb and pointless," Markus argued the current model continues to make sense.
David Schwartz, director of projects and strategic partnerships at the Litecoin Foundation, has said merged mining remains Dogecoin's best option and would still be appropriate even without benefits flowing to Litecoin. The broader community remains divided, however, with the fundamental question of whether Dogecoin should be capable of securing itself independently still unresolved.
Markus also shifted the framing of the dependency question, arguing that many Scrypt miners are attracted to Litecoin precisely because it lets them earn Dogecoin at no additional cost. From a security standpoint, AuxPoW raises the cost of an attack significantly: under the merged mining model, anyone wishing to attack Dogecoin must confront the total physical hashrate of the entire Litecoin network. Whether that arrangement is a strength or a structural vulnerability remains a live question inside the Dogecoin developer community.
Sources:
Dogecoin Co-Founder Fires Back on Bitcoin Security Debate, Crypto Economy
Dogecoin Dev Clarifies How DOGE Merge Mining Works, U.Today
Case Study: Merged Mining in Dogecoin and Litecoin, Binance Research
PANews July 21 news, according to SoSoValue data, crypto market sectors broadly rebounded, with the DeFi sector standing out, up 2.28% in 24 hours. Within it, Hyperliquid (HYPE) rose 3.55%, DeXe (DEXE), Uniswap (UNI), and Lido DAO (LDO) rose 4.96%, 5.325%, and 11.80% respectively. Meanwhile, Bitcoin (BTC) rose 0.80%, breaking through $65,000; Ethereum (ETH) rose 1.88%, breaking through $1,900.
As for other sectors, the RWA sector rose 2.02% in 24 hours, with Maple Finance (SYRUP) up 6.13% within the sector; the PayFi sector rose 1.00%, Telcoin (TEL) up 2.62%; the Layer1 sector rose 0.62%, NEAR Protocol (NEAR) up 4.40%; the CeFi sector rose 0.22%, NEXO (NEXO) up 1.85%; the Meme sector rose 0.17%, Bonk (BONK) up 15.22%; the Layer2 sector rose 0.04%, Arbitrum (ARB) up 2.14%.
Only the SocialFi sector dipped slightly by 0.96%, where Gram (GRAM) fell 0.76%, but Chiliz (CHZ) rose 3.06%.
Grayscale filed with the SEC on July 20 for a spot Worldcoin (WLD) exchange-traded fund. The fund would trade on Nasdaq under the ticker GWLD.
Bloomberg ETF analyst James Seyffart confirmed the filing on X. The twist is that Grayscale’s own paperwork spells out why WLD is such a risky bet.
What the Grayscale Worldcoin ETF Filing SaysThe SEC filing shows Grayscale moved fast. It formed the trust on July 10 and filed just 10 days later. BitGo will hold the WLD, and BNY Mellon will run the fund’s books.
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Grayscale knows this path well. Its Bitcoin Trust became a spot ETF in January 2024 after the firm beat the SEC in court. Solana and Dogecoin funds followed in late 2025.
Some details are still missing. The fee is blank, and no trading partners are named yet.
The Risks Grayscale Itself ListsWorldcoin verifies humans by scanning their eyes with a device called the Orb. The filing admits regulators pushed back hard. Spain, Portugal, Germany, Hong Kong, Brazil, Kenya, and Indonesia all took action between 2024 and 2025.
The token math looks rough too. The 100 largest wallets hold about 90% of circulating WLD. Team and investor tokens keep unlocking until around July 2028.
Then there is the price. WLD trades near $0.375, up 3.3% on the day. That is still about 97% below its March 2024 peak of $11.74.
Worldcoin (WLD) Price Performance. Source: BeInCryptoA June treasury purchase gave the token a brief lift. Meanwhile, Tools for Humanity layoffs at the project’s lead developer dragged it back down.
GWLD cannot trade until the SEC signs off and Nasdaq clears the listing. Easier access may help, but WLD’s path forward likely hinges on those token unlocks.
JPMorgan Chase CEO: Investors are underestimating market risks, and he will not buy stocks or long-term U.S. Treasuries at present.
JPMorgan CEO Jamie Dimon said investors are underestimating the geopolitical and fiscal risks facing the global economy, and at current prices, he would not buy the overall stock market nor long-term U.S. Treasuries. Dimon noted that the Russia-Ukraine war, Middle East conflicts, strained China-U.S. relations, and rising military spending amid expanding government deficits could eventually hit markets. While the global economy is more resilient due to reduced energy dependence, this does not rule out sudden market downturns. Persistently large U.S. fiscal deficits could eventually push up interest rates, as bond investors will demand higher returns to hold government debt. He added that even if inflation falls to the Fed’s 2% target, the 10-year U.S. Treasury yield could stay between 4% and 4.5%, leaving limited upside for long-term Treasury prices. On stocks, Dimon said he would consider buying individual high-quality stocks, but not the broader market at current valuations. The S&P 500 has risen nearly 10% so far this year. Turning to AI, Dimon compared the current investment boom to the early days of the internet. He believes massive AI spending could ultimately pay off overall, just like the internet, but the returns and timeline will “definitely not be as people expect”. He pointed out that early internet-era giants like Yahoo and Netscape later faded, while eventual winners like Google and Facebook emerged later.
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According to GMGN monitoring, Robinhood Chain ecosystem token PONS briefly hit an all-time high market cap of over $39 million, and is now trading at $34 million, up 110% in 24 hours with around $10 million in trading volume over the same period. PONS is the native platform token of Pons, a token-launching platform on Robinhood Chain. The platform supports creating and issuing fixed-supply tokens, uses collected WETH fees to repurchase PONS, and directly burns PONS fees. It is viewed by some community members as the "pump.fun" of Robinhood Chain.
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According to data from the Korea Financial Investment Association, as of July 16, the margin balance used for stock financing has fallen to 33.4 trillion won (about $226 billion), the lowest level since April 15. The figure is 13% lower than the peak of 38.6 trillion won recorded at the end of June. Additional data indicates that South Korean retail investors’ enthusiasm for stocks may be cooling. Per the Korea Financial Investment Association, as of July 16, investor deposits dropped to 108.1 trillion won, down from the high of 139.7 trillion won on June 4. (Jinshi)
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Donald Trump has agreed to the ethics provisions of the CLARITY Act, bringing the bill closer to a Senate vote.
Trump has agreed to the ethics provisions in the CLARITY Act, clearing a key hurdle for the crypto legislation to advance to a Senate vote. Industry sources said that after months of negotiations, all parties reached an agreement on the relevant ethics terms, and Trump approved the plan late Monday. The provisions aim to restrict the president, vice president, members of Congress, and other federal officials from profiting from digital assets while in office. The controversy has long centered on Trump-linked meme coins and his family’s involvement in World Liberty Financial. Ethics issues were previously viewed as the last major obstacle to the bill’s passage. The CLARITY Act seeks to introduce the first comprehensive federal regulation of the digital asset industry, and clarifies the jurisdictional authority of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). However, Democratic lawmakers have not yet seen the latest provision text. The revised bill text is expected to be released in the coming days, with the earliest possible launch being Monday evening, though it may also be delayed. The Senate must complete its vote before the first week of August; if the bill passes, it will need to return to the House of Representatives for consideration before being sent to the president for signing.
The leading digital asset has been stuck in a persistent bear market over the past several months, currently trading at around $64,500 (a nearly 50% decline from its ATH set last year).
Despite the negative environment and waning investors’ interest, certain factors suggest that the bulls might be preparing to take over soon.
The Positive Signs The first bullish signal comes from the renowned analyst Ali Martinez. Just a few days ago, he revealed on X that BTC has formed a bullish divergence on the weekly chart, noting that the last time this happened, the price exploded by more than 700%.
Should history repeat itself, the asset could skyrocket above $500,000. It’s a scenario that seems almost impossible amid the current market depression, but the crypto sector has a habit of surprising investors.
The second element is the declining amount of BTC stored on exchanges. CryptoQuant revealed that the figure has dropped to approximately 2.7 million units, the lowest since late June. This development indicates that many investors have abandoned centralized platforms and moved their holdings to self-custody solutions, thereby reducing immediate selling pressure.
BTC Exchange Reserves, Source: CryptoQuant Last but not least, the X account BSCN revealed that investors holding between 1,000 and 10,000 BTC have purchased 66,700 coins over the last two months, marking their strongest accumulation since February. Similar developments reduce the immediately available supply and the selling pressure. They can also be mimicked by smaller investors who tend to copy whales.
The Rally Has Already Started? The primary cryptocurrency charged toward $65,000 earlier today but was halted there and slipped by around a grand before it found support at $64,000. X user Crypto Catalysts noted the resurgence, arguing that the rally towards $100,000-$105,000 had begun.
You may also like: What Does $2.3B Stablecoin Exodus From Binance and Bybit Mean for Bitcoin Analyst Says Waiting for Bitcoin’s Four-Year Cycle Bottom Could Be a Costly Mistake Saylor’s Strategy Strengthens Liquidity Position but Long-Term Bitcoin Plan Still Faces Scrutiny “Next move towards 70k and after a sound correction towards 80k and eventually towards the main target of 100k,” they predicted.
It is important to note that over the past few months, BTC has attempted several decisive comebacks, yet the bears have intercepted each push. Thus, it is wise for bullish investors to keep expectations realistic.
20 July 2026 | 20:22 Bitcoin has moved back above an important daily resistance level, placing the next Fibonacci barrier near $67,000 within reach.
Key Takeaways Bitcoin has broken above daily resistance near $64,000 while maintaining its higher-low structure. The next Fibonacci resistance sits around $67,000, followed by a larger test near $70,000. Spot Bitcoin ETFs recorded a second positive week after eight consecutive weeks of outflows. The monthly recovery remains conditional on reclaiming a long-term ascending trendline. BTC trades at approximately $65,400 at the time of writing on July 20, with the recovery from its late-June low continuing to produce higher lows.
The daily setup is constructive, but the monthly chart shows that Bitcoin is still trying to repair damage to its longer-term structure. The difference between those two time frames makes the next price reaction particularly important.
Daily Breakout Opens the Route Toward $67,000 The daily chart shows Bitcoin moving above the horizontal resistance around $64,000. Price is also holding above the 50-day simple moving average near $63,189 and continues to respect the ascending trendline extending from the late-June bottom.
Daily Bitcoin technical price chart with indicators. Together, these levels form the immediate support zone for the breakout. Holding above them would preserve the sequence of higher lows and leave the Fibonacci resistance near $67,000 as the next major test.
A move above $67,000 would strengthen the recovery, but the level may also attract selling because it marks the boundary between the current consolidation area and the next section of the broader range.
The first warning could be a daily return below the reclaimed $64,000 level. A subsequent break beneath the ascending trendline would turn the move into a possible false breakout and redirect attention toward the horizontal support.
The Monthly Chart Has Not Fully Recovered Bitcoin’s monthly chart presents a more demanding test. Price previously fell below the long-term ascending trendline that had guided the broader advance, turning the former support into resistance.
Monthly Bitcoin technical price chart. The latest rebound is now attempting to reclaim that line. It began after Bitcoin tested the area where the 0.618 Fibonacci retracement meets the 50-month simple moving average, currently near $59,930. That confluence provided bulls with a technically important area to defend.
A monthly close back above the ascending trendline would improve the longer-term structure and bring the 0.5 Fibonacci retracement near $70,000 into focus. Rejection from the trendline would leave Bitcoin vulnerable to another test of the $59,000 to $60,000 support region.
The daily breakout therefore supports a near-term bullish interpretation, but the monthly reclaim remains unconfirmed. Holding above resistance for several daily sessions is not the same as recovering the broader channel on a monthly closing basis.
ETF Inflows Return After Eight Red Weeks Spot Bitcoin ETF flows have also improved. The funds attracted $197.40 million during the week ending July 10, followed by another $75.67 million in the week ending July 17, SoSoValue data shows.
That produced two consecutive positive weeks and combined net inflows of approximately $273.07 million after eight straight weeks of outflows. The reversal removes some of the persistent fund-related selling pressure that accompanied Bitcoin’s earlier decline.
However, the second weekly inflow was smaller than the first. The data shows that demand has returned, but not yet that it is accelerating. Continued positive flows would provide stronger support for a move through $67,000 and toward the monthly resistance near $70,000.
The bullish confirmation could be backed by a successful retest of the $64,000 breakout area, followed by a sustained move above $67,000. The stronger long-term signal would come from a monthly close that reclaims the lost ascending trendline.
The broader setup also entered a macro-heavy period shaped by three groups of catalysts in the following days: technology-sector earnings, central-bank and economic decisions and US-Iran developments, which could influence oil prices and wider risk appetite.
For now, buyers hold the advantage on the daily chart. The monthly structure remains at an inflection point, making $67,000 the first test and $70,000 the level that could determine whether the recovery develops into a larger reversal.
This article is provided for informational purposes only and does not constitute financial or investment advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
According to monitoring by OnchainLens, a Hyperliquid trader opened a highly leveraged long position on Bitcoin (BTC), purchasing 58.31 BTC worth approximately $3.77 million with 40x leverage. The position was opened at $64,823, with a liquidation price of $64,020. Data shows the account has accumulated a profit of roughly $72,100 so far and was created just three days ago. The trading address is: 0xaf791381ba21eb8075bda573a5b8ba134f89f688.
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The crypto market overview for Monday shows cautious stability as Bitcoin price remains above $64,000. Ethereum price holds near $1,882, while XRP price struggles below the $1.10 resistance level.
Pi Network leads the market with a 15% jump. Pump.fun also extends its rebound. Traders are watching geopolitical tensions and the Federal Reserve meeting scheduled for July 28 and July 29 later this month.
Crypto Market Stabilizes as Bitcoin Holds Above $64k Level The wider crypto market is still pegged at around $2.2 trillion, which is indicative of minimal activity in the digital assets.
The Crypto Fear and Greed Index of CoinMarketCap is 34, indicating a cautious attitude even after recent recoveries. Bitcoin price traded around $64,927 on Monday after gaining 1.45% during the previous seven days.
Source: CMC data The leading cryptocurrency is testing a bullish breakout near the $64,200 support zone. A sustained hold above $64,200 could help buyers challenge the $65,000 resistance level as per the detailed Bitcoin price analysis.
Nevertheless, a decisive drop below that level might push the Bitcoin further down, and leave it vulnerable to $60,000.
The renewed military tensions between the United States and Iran further raised market uncertainty. Investors will pay attention to the Federal Reserve meeting on July 28 and July 29.
The rate decision of the central bank may affect the liquidity expectations, risk appetite, and prices of the cryptocurrencies in the various markets.
Ethereum Price Consolidates Near $1,882 While XRP Faces Pressure Ethereum price was trading at $1,882 on Monday following a 4% increase over the past week. The ETH continues moving sideways between support near $1,820 and resistance at $1,940.
The breakout of above $1,940 may reinforce momentum and motivate buyers to seek new levels. Conversely, a drop below $1,820 may expose Ethereum to further selling pressure during the week.
Source: Tradingview XRP price is also in the weak position, and its upside has been repeatedly limited below the resistance level of $1.10. Its technical structure is weakening with the token approaching major support at $1.00.
Any recovery above $1.10 would be required to boost sentiment and rekindle short-term momentum.
Pi Network Extends Rally Ahead of Protocol v25 Upgrade Pi Network price gained more than 15% on Monday, extending its rebound for a fourth consecutive session.
The rally followed a 207% increase in daily trading volume to $40.47 million. That steep growth implies a new speculative buzz and increased purchasing dynamics around the PI token.
Pi Network’s Protocol v25 is bringing several Improvements@PiCoreTeam schedules its Protocol v25 upgrade for July 22 to optimize network stability and enhance smart contract efficiency across its global ecosystem.
The rollout introduces privacy-preserving smart contract… pic.twitter.com/Ynm1y1tadU
— BSCN (@BSCNews) July 16, 2026
Investors are preparing for the Protocol v25 upgrade, due July 22. The update will replace older Protocol v19 standards with newer features designed to improve network performance.
Pump.fun Rebounds 20% as PUMP Climbs to Two-Month High Pump.fun traded near $0.0020 on Monday after gaining 20% during the previous session. The PUMP token has gained over 35% in the last one week, which favors the positive short-term perspective.
Its price soared to a two-month high when crypto trader Ansem announced the new position in the token. The rally started on Sunday when PUMP rose by about $0.0016 to $0.0019.
A viral meme coin as well as more attention was paid to the Solana launchpad and enhanced platform activity.
Trader 0xbf73 made a 10x long trade on $1.53 million worth of 764.14 million PUMP, which was funded by $115,000 worth of SOL purchased by Ansem (@blknoiz06).
After Ansem(@blknoiz06) bought $PUMP with 1,500 $SOL($115K), trader 0xbf73 opened a 10x long on 764.14M $PUMP($1.53M).
Nevertheless, additional returns might be pegged on the fact that Bitcoin is not going to drop and wider risk appetite is going to increase in the crypto markets.
The bitcoin treasury company lifted its cash reserve to a $3.225 billion as its 843,775 BTC stack sits about $9 billion underwater.
Strategy Inc (NASDAQ: MSTR) sold 2,732,318 shares of its Class A common stock between July 13 and July 19, generating net proceeds of $263.5 million under its at-the-market offering program, according to an 8-K filed with the Securities and Exchange Commission on July 20.
The company made no bitcoin (BTC) purchases during the period, the second consecutive week without an acquisition. Its holdings remain at 843,775 BTC, bought for an aggregate $63.69 billion at an average price of $75,476 per coin.
No Preferred Sales, No BuybacksThe filing showed no sales under any of Strategy's four preferred-stock ATM programs — STRF, STRC, STRK and STRD — during the week, and no repurchases under its share buyback programs. The common-stock sale was the sole capital-markets activity.
Strategy said $23.53 billion remains available under its MSTR common-stock offering, which reflects combined capacity including a $21 billion increase announced in March. Its US dollar reserve, held to cover preferred dividends and debt interest, stood at $3.225 billion as of July 19.
Holdings Sit Below Cost BasisStrategy's average purchase price of $75,476 per bitcoin is above the token's recent trading level. Bitcoin was changing hands near $64,200, according to CoinGecko, which puts the position's market value around $54 billion — below the roughly $63.7 billion the company has paid. MSTR shares edged about 0.5% higher in pre-market trading Monday.
The second straight week without a bitcoin purchase, funded entirely by equity sales rather than preferred issuance, suggests Strategy is prioritizing liquidity over accumulation at current price levels.
Bitwise Chief Investment Officer Matt Hougan believes Bitcoin’s (CRYPTO: BTC) next major wave of demand will come from the "final boss of investing" which is the institutional capital.
Speaking in a Milk Road interview on July 19 alongside Bitwise research head Ryan Rasmussen, Hougan argued that Bitcoin has repeatedly transitioned from one dominant buyer group to another and is now approaching its largest potential source of capital yet.
Concerns have emerged over whether Bitcoin could face a demand gap as Strategy Inc. (NASDAQ:MSTR), slows or changes its purchasing activity.
Hougan said Bitcoin’s history is defined by its largest buyer eventually handing the baton to a new group.
Before Strategy, demand was led by the Grayscale Bitcoin Trust (NYSE:GBTC) Before Grayscale, U.S. retail investors followed Asian retail buyers and Bitcoin’s earliest cypherpunk adopters.
This time, he believes the identity of the next buyer is already clear.
"The end boss of investing is institutional capital," he said, pointing to financial advisers, pension funds, endowments and sovereign wealth funds.
"I think it’s going to be a great bull market for Bitcoin," he said.
Vanguard Signals Institutional ShiftRasmussen highlighted reports that Vanguard, which manages trillions of dollars, is seeking a senior digital-assets executive to develop its crypto strategy. This marks a major move that crypto is transitioning from offshore and retail-dominated markets toward mainstream institutional infrastructure.
Once a major institution embraces digital assets, Hougan said, that decision tends to become a "one-way door."
Five years ago, allocating to crypto represented a professional risk. Today, Hougan said appearing openly hostile to digital assets may make executives look as though they have their "head in the sand."
DeFi’s Market Is Bigger Than CryptoHougan said institutional adoption will not stop with Bitcoin.
Investors have traditionally viewed decentralized finance as serving only the crypto market, which he estimated at roughly $2 trillion. However, he argued that DeFi’s true addressable market is the entire global financial system, potentially worth hundreds of trillions of dollars.
As traditional assets move on-chain, decentralized protocols could compete across lending, trading, settlement and asset management.
Hougan believes Bitcoin will lead institutions into crypto, while tokenization and DeFi broaden the industry’s opportunity across global finance.
Image: Shutterstock
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Nearly $2.3 billion in stablecoins have exited Binance and Bybit over 30 days.
Bitcoin (BTC) continues to trade in a consolidation phase, a little above the $60,000 level. The market is approaching 165 days of testing that crucial price zone despite a rally above $80,000 in May that ultimately failed to sustain momentum, according to analyst Darkfost.
The analyst pointed to a lack of fresh liquidity entering the crypto market as one of the main reasons behind Bitcoin’s inability to establish a stronger uptrend.
Stablecoin Drain Fresh demand has struggled to materialize for both Bitcoin and the broader crypto market, the analysis said. Exchange stablecoin reserves have reflected that trend since the beginning of the year, which essentially shows a near-continuous decline as outflows consistently outpaced inflows.
Over the past 30 days, Binance recorded approximately $1.55 billion in stablecoin outflows – a significant reduction in reserves over a relatively short period. Bybit also saw a further $786 million leave its stablecoin reserves during the same timeframe. In total, the two exchanges recorded nearly $2.3 billion in stablecoin outflows over the past month.
Darkfost explained that the falling reserves indicate that incoming liquidity and investor demand are continuing to contract. The analyst added that market participants appear to be withdrawing stablecoins from exchanges rather than deploying them into crypto assets, while some may be exiting the market entirely.
According to the analysis, such a “pessimistic” market positioning continues to limit the liquidity available to Bitcoin, which then ends up preventing the asset from making a meaningful breakout above its long-running consolidation range around the $60,000 level.
Accumulation Opportunity Some market analysts, such as Doctor Profit, believe that the ongoing market conditions present a gradual accumulation opportunity. The analyst recently said that investors waiting for Bitcoin’s traditional four-year cycle bottom could end up missing the market’s next move.
You may also like: Analyst Says Waiting for Bitcoin’s Four-Year Cycle Bottom Could Be a Costly Mistake Saylor’s Strategy Strengthens Liquidity Position but Long-Term Bitcoin Plan Still Faces Scrutiny What Happens to Bitcoin if the Fed Raises Rates in July? Meanwhile, market trader Daan Crypto Trades said the crypto asset is on track to close another weekly candle above its 200-week moving average (200MA), a level often watched as an important long-term support indicator. However, the trader said a stronger move higher is still needed to retrace the previous decline and reclaim the 200-week exponential moving average (200EMA). Until that happens, Bitcoin is expected to remain stuck in its “choppy” trading range around the current level.
Russia is set to finalize its crypto regulation bill, “On Digital Currency and Digital Rights,” which will create a legal framework for crypto and cross-border settlements. The legislation, expected to be enacted on September 1, 2026, legalizes crypto through licensed intermediaries under the oversight of the Central Bank of Russia. It also bans domestic crypto payments for goods and services, while allowing crypto use for international trade settlements. This development comes as the United States still lacks clear regulation guidance, potentially positioning Russia as a significant player in the international crypto market.
The introduction of this regulatory framework appears to have implications for Bitcoin’s future price predictions. Current market data suggest a low probability of Bitcoin reaching significant price thresholds by the end of 2026, with only a 2% YES probability for reaching $200,000. However, the move by Russia to facilitate international crypto transactions might influence future market confidence and pricing scenarios.
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Market participants seem attentive to geopolitical and regulatory shifts, as these factors could shape the landscape for cryptocurrency globally. The Russian bill could serve as a model for other countries, potentially impacting international adoption and regulatory approaches.
Key Takeaways Russia’s upcoming crypto regulation bill suggests a shift towards establishing a legal framework supportive of international crypto transactions. Market pricing currently reflects a low probability of Bitcoin reaching $200,000 by the end of 2026, with a 2% YES probability. The finalization of the Russian bill may indicate potential adjustments in global crypto market dynamics and regulatory standards. What to Watch As Russia finalizes its bill, market observers will likely monitor the impact on global crypto markets and Bitcoin pricing. Key indicators include how other nations might respond with their regulatory frameworks and whether this influences institutional adoption. Additionally, any developments in U.S. regulatory policies or significant announcements from entities like the Federal Reserve could further shape market expectations for Bitcoin and other cryptocurrencies.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 2.2% — — View market → December 31 2% — — View market → December 31 2.6% — — View market → December 31 3.5% — — View market → December 31 5% — — View market → January 1 2027 8% — — View market → January 1 2027 21.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 2.2% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.6% — — View market → January 1 2027 4% — — View market → January 1 2027 6.5% — — View market → January 1 2027 45.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.6% — — View market → January 1 2027 31.5% — — View market → January 1 2027 16.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 1% — — View market → January 1 2027 11.5% — — View market → January 1 2027 22.5% — — View market → January 1 2027 33.5% — — View market → January 1 2027 52.5% — — View market → January 1 2027 76% — — View market →
Bitcoin custody provider Onramp released a research report in July 2026 advocating for direct spot Bitcoin ownership over holding indirect, paper-based claims such as fund shares or exchange balances. The report, titled “Back to Basics,” comes as Bitcoin trades at approximately half its all-time high from late 2025, while global equities and gold approach record levels.
Onramp’s view on Bitcoin fundamentalsThe report opens by comparing Bitcoin’s price performance to traditional asset classes. While stocks and gold have continued upward, Bitcoin’s recent decline is interpreted by Onramp as an opportunity for accumulation, rather than a warning sign.
Onramp emphasizes Bitcoin’s fixed supply, highlighting its cap of 21 million coins as a core element that protects its monetary integrity. The firm contends that traditional fiat currencies are designed to lose purchasing power over time, with governments and financial institutions benefiting from newly issued currency at the expense of ordinary holders.
The research covers key aspects of Bitcoin’s structure, including its predetermined issuance schedule and the halving event, which periodically reduces the rate at which new coins enter circulation. According to Onramp, the decentralized nature of the network gives protocol control to users running full nodes, rather than to miners or centralized entities.
Onramp also defends proof of work, the consensus mechanism securing the Bitcoin network, describing it as a legitimate and efficient use of energy. The report points to mining operations utilizing otherwise wasted resources such as flared gas or surplus renewable power. For investors, Onramp positions Bitcoin as a modern successor to gold—scarce and durable, but more easily transferable and independently auditable by any user.
Volatility is described as a routine characteristic of an asset in the process of monetization. The report notes that Bitcoin has experienced several price declines of 50% or more, with each major drawdown historically followed by new all-time highs.
Onramp advises investors to use a disciplined, mechanical buying strategy such as dollar cost averaging, rather than attempting to time the market. This approach, the firm states, has gained popularity among retail and institutional participants, especially during recent market corrections.
Spot versus ‘paper’ BitcoinA central argument in the report focuses on the distinction between direct Bitcoin ownership and ‘paper’ representations. Onramp points out that many investors hold assets that track Bitcoin’s price—such as exchange-traded funds (ETFs), exchange balances, or structured products—rather than owning Bitcoin itself.
The report concedes that these vehicles often offer accurate price exposure and professional management. Nevertheless, Onramp warns that each additional layer adds potential risks, including reliance on custodians or administrators who may fail independently of Bitcoin’s protocol.
By contrast, holding Bitcoin directly—meaning in a private wallet where the investor controls the cryptographic keys—removes counterparty risk and enhances individual sovereignty. Onramp suggests options such as self-custody or multi-institutional custody solutions, which split private keys among independent parties.
The company, headquartered in the United States, provides custody services for Bitcoin, allowing clients to hold digital assets securely or leverage their multi-party custody model.
Mini dictionary: Multi-institutional custody refers to a security model where digital assets are held using multiple independent custodians. Keys are split so that no single entity can move or access the funds alone, reducing risk of loss or theft.
Onramp contends that “as more layers are added between the owner and their Bitcoin, so too are additional points of failure,” emphasizing that only direct spot ownership can fully eliminate counterparty risk.
Ownership TypeDirect controlCounterparty riskTransfer limitationsSpot Bitcoin (self custody)YesNoNoneExchange-held BitcoinNoYesPossible freezes, withdrawal limitsFund share/ETFNoYesCannot redeem for actual BitcoinMarket conditions and accumulation strategyOnramp highlights that the current price drawdown is less severe and shorter in duration compared to historical downturns seen in the Bitcoin market, with the present cycle approximately seven months past the latest peak and around 50% below that high.
The report references previous cycles, noting that every significant decline has eventually led to new highs, and describes the ongoing price weakness as an attractive entry point for accumulation. Onramp reiterates that its guidance is not to forecast specific prices but to encourage scheduled purchases and holding assets in secure, user-controlled custody.
For Onramp, expanding adoption and a fixed supply underpin Bitcoin’s resilience, with lower pricing giving buyers a potential advantage in the market.
Onramp has raised $12.5 million to support the development of its custody solutions, aiming to integrate cash, Bitcoin, and gold into unified client accounts for diversified asset management.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Binance founder Changpeng Zhao has drawn a line between Bitcoin’s 21 million supply cap and an AI investment cycle that JPMorgan CEO Jamie Dimon expects to attract $725 billion this year.
Summary
CZ says AI boosts productivity, while Bitcoin’s fixed supply protects wealth from inflation. Jamie Dimon expects AI investment to reach $725 billion amid a powerful spending cycle. BlackRock executives believe debt and currency concerns could strengthen Bitcoin’s long-term case. CZ wrote in a recent X post that artificial intelligence and Bitcoin serve separate financial and economic roles, rejecting the idea that rapid advances in AI can protect investors when fiat currencies lose purchasing power.
“AI is great, but it does not protect you against inflation. Bitcoin does.”
AI is great, but it does not protect you against inflation.
Bitcoin does.
— CZ 🔶 BNB (@cz_binance) July 16, 2026 According to CZ, artificial intelligence can raise productivity, improve business efficiency and support technological development, while Bitcoin gives holders access to an asset whose supply cannot be expanded. His comparison places scarcity at the center of Bitcoin’s appeal rather than treating it as another fast-growing technology investment.
Capital has continued to enter AI software, chips, data centers and computing infrastructure as companies seek applications across healthcare, finance and manufacturing, CZ noted. Although those investments may produce new services and higher output, he argued that ownership in an AI company remains tied to revenue, execution and competition.
Companies developing AI products can also issue additional shares or raise fresh capital to fund expansion, according to CZ. Such financing can dilute existing shareholders, whereas Bitcoin’s protocol limits the total number of coins to 21 million, preventing any company or government from increasing its supply.
For CZ, that difference gives Bitcoin its potential as a long-term store of value when inflation weakens fiat money. His case does not rest on Bitcoin matching the productivity gains promised by AI; instead, he views the asset as protection against monetary expansion and the loss of purchasing power.
Bitcoin and AI serve different investment needs CZ has previously acknowledged that the AI boom could temporarily pull money away from Bitcoin and other assets. As private companies such as OpenAI and Anthropic attract large funding rounds, he argued that some investors may sell existing holdings to gain exposure to AI-related opportunities.
Despite that competition for capital, CZ does not consider Bitcoin and artificial intelligence direct rivals. Under his framework, AI helps companies produce more goods and services, while Bitcoin allows investors to hold an asset that cannot be diluted through additional issuance.
The distinction also separates the risks attached to the two themes. According to CZ, an AI company’s value depends on its ability to turn technology spending into a durable business while competing against other developers. Bitcoin holders face different risks, but its programmed scarcity does not depend on one management team meeting sales targets or defending market share.
Demand for AI infrastructure remains strong, with JPMorgan CEO Jamie Dimon forecasting that related investment will reach $725 billion this year. Dimon has linked his optimism to the volume of capital entering the industry and the continuing strength of the U.S. economy.
Describing the spending cycle as difficult to stop, Dimon compared its momentum with a wave gaining force.
“We’re in a bull market. It’s like a little tsunami. When that kind of thing happens, it’s very hard to stop.”
Dimon’s view supports CZ’s assessment that AI will continue drawing large amounts of investor capital, although the two executives differ sharply on Bitcoin. The JPMorgan chief has repeatedly criticized the cryptocurrency, while CZ has built his inflation argument around its fixed issuance.
Rather than dismissing the AI trade, CZ’s comments assign it a separate purpose. He credits the technology with improving productivity, but he does not believe higher output or stronger corporate earnings can replace an asset designed to resist supply expansion.
Debt concerns strengthen Bitcoin’s scarcity case At the same time, rising government borrowing has added weight to the monetary concerns behind CZ’s position. Dimon, despite his long-running criticism of Bitcoin, has recently warned about government debt and geopolitical risks that could affect markets over the next several years.
BlackRock executives have also connected fiscal pressure with Bitcoin’s investment case. Robert Mitchnick, BlackRock’s head of digital assets, has argued that concern over U.S. debt and persistent budget deficits could become a major source of demand for the cryptocurrency.
BlackRock CEO Larry Fink issued a similar warning in his 2025 annual letter, stating that uncontrolled U.S. debt could eventually threaten the dollar’s reserve-currency status. Fink argued that decentralized assets such as Bitcoin could benefit if investors lose confidence in national currencies and seek alternatives outside government control. BlackRock’s 2025 annual letter also placed technological change and long-term investing among the forces reshaping capital markets.
BlackRock’s fixed-income team has separately identified rising U.S. debt as a risk to demand for long-dated Treasury bonds and the dollar. The asset manager’s analysis warned that heavier issuance and reduced demand from major buyers could push borrowing costs higher, adding another fiscal concern to the case advanced by Bitcoin supporters.
Against that setting, CZ’s argument treats AI spending and Bitcoin ownership as responses to different conditions. His view assigns AI a role in generating economic growth while reserving Bitcoin for investors seeking scarcity when debt, inflation, or currency weakness threatens the value of conventional money.
Russia’s State Duma is poised to conduct final readings on the “On Digital Currency and Digital Rights” bill, a significant piece of legislation that seeks to regulate the country’s cryptocurrency sector. Scheduled for July 21, the bill focuses on licensing exchanges and brokers under the oversight of the Bank of Russia. It classifies cryptocurrency as property and permits crypto use for cross-border settlements while maintaining restrictions on domestic payments. The legislation introduces purchase caps and risk-awareness tests for non-qualified retail investors, allowing them to engage only with highly liquid assets such as Bitcoin (BTC), Ethereum (ETH), and USDT. Market participants appear to interpret these measures as limiting long-term BTC demand, suggesting a potential impact on future price predictions.
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Key Takeaways Russia’s crypto bill appears to limit long-term Bitcoin demand by focusing on licensed turnover and restricting domestic crypto use. The bill introduces regulatory measures such as purchase caps and risk tests for retail investors, suggesting a controlled market environment. Market pricing suggests a moderate decrease in the likelihood of Bitcoin reaching $200,000 by the end of 2026. What to Watch Observers will be closely monitoring the Duma’s final readings and any amendments that might affect the bill’s provisions. The potential impact on global Bitcoin markets could become clearer as the bill moves closer to implementation, expected on September 1, 2026. Watch for any shifts in pricing that might indicate changing sentiment towards Bitcoin’s long-term prospects, especially in light of regulatory developments in other countries.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 2.2% — — View market → December 31 2% — — View market → December 31 2.6% — — View market → December 31 3.5% — — View market → December 31 5% — — View market → January 1 2027 8% — — View market → January 1 2027 21.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 2.2% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.6% — — View market → January 1 2027 4% — — View market → January 1 2027 6.5% — — View market → January 1 2027 45.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.6% — — View market → January 1 2027 31.5% — — View market → January 1 2027 16.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 1% — — View market → January 1 2027 11.5% — — View market → January 1 2027 22.5% — — View market → January 1 2027 33.5% — — View market → January 1 2027 52.5% — — View market → January 1 2027 76% — — View market →
The Strategy chairman says the anti-spam soft fork would set a censorship precedent worse than the data problem it targets, weeks before an August signaling window.
Michael Saylor, co-founder and executive chairman of Strategy, published a 110-point essay on X on July 18 urging the Bitcoin network to reject BIP-110, the "anti-spam" soft fork proposal, in a rare foray into protocol governance.
The essay, titled "110 Reasons BIP 110 Is a Bad Idea," had drawn more than 840,000 views by Sunday afternoon. Saylor said he shares supporters' desire to protect Bitcoin but considers the proposed cure more dangerous than the condition it targets.
His central argument is that consensus rules cannot judge the purpose of valid, fee-paying transactions and should not try. Objectors can decline to use, relay, index or mine unwanted data, he wrote, and any consensus rule should address a demonstrated denial-of-service or validation risk rather than perceived intent. The essay's final entry dismissed the measure as "a Bitcoin Iatrogenic Proposal" — repurposing the BIP acronym with the medical term for harm caused by treatment — and closed: "Bitcoin does not need guardians of purity. It needs guardians of neutrality."
What BIP-110 Would DoBIP-110 is a temporary, one-year soft fork bundling seven restrictions on data-heavy transactions. It was first published as BIP-444 in October 2025, after Bitcoin Core's v30 release lifted default limits on OP_RETURN data. A BIP-110-enabled client is based on Bitcoin Knots, the node software maintained by Ocean CTO Luke Dashjr, one of the proposal's most prominent backers.
Supporters frame the debate around incentives rather than neutrality, arguing that treating arbitrary data storage as a supported use distorts fee dynamics, burdens node operators and forces monetary transactions to compete with non-financial traffic. They describe the one-year restrictions as a temporary intervention meant to refocus the network on bitcoin's use as money.
An August Showdown With Thin SupportUnder BIP-110's deployment schedule, a mandatory signaling period opens near block 961,632, expected around Aug. 7, when enforcing nodes begin rejecting blocks that fail to signal, with the rules taking effect for those nodes around Sept. 1.
Signaling blocks currently make up 0.86% of the difficulty period, far short of the 55% needed for early lock-in and never having exceeded roughly 1%, according to the proposal's public monitor. If support stayed near those levels, BIP-110 nodes would reject nearly all blocks from non-signaling miners during the mandatory window, risking a split onto a minority chain. Jason Hughes, Ocean's vice president of development and engineering, estimated node support at 7% to 15% in a guest post for Bitcoin Magazine, arguing the proposal is on track to fail.
Saylor first weighed in on July 11, replying to criticism of the proposal from Blockstream CEO Adam Back with a post arguing there are "110 things more dangerous to Bitcoin than spam." Backers of the soft fork answered the essay in kind: investor Fred Krueger posted a mirror-image rebuttal listing 110 reasons in favor.
The intervention is unusual for Saylor, whose firm is the largest corporate holder of bitcoin (BTC) with 843,775 BTC at an average cost of $75,476, per its most recent SEC filing.
1alt HD: ETF Turnaround Proves Insufficient to Trigger True Macro Bullish Turnaround for Bitcoin Traders
Bitcoin [BTC] was struggling to scale the $65k local supply zone. Since July 14, the spot Bitcoin ETF inflows have been positive. The injection of capital has not been enough to substantially elevate prices yet.
Source: CryptoQuant Crypto analyst ScenarioX noted a steady drop-off in the 30-day Bitcoin spot demand. The metric recovered to -80k BTC in early July, but has since deteriorated to -170k BTC, the analyst explained in a post on CryptoQuant Insights.
Despite decreased demand, prices have stayed relatively stable around $65k because of short-covering in the derivatives market. Easing short-term holder sell pressure was also a contributing factor.
AMBCrypto reported that the turnaround in ETF flows was not enough to confirm a bullish reversal. A reading of the short-term price structure highlighted the importance of the $67.3k local swing high.
Lack of new investors growth signals stabilization, not reversal Source: Axel Adler Jr. The Bitcoin New Investors metric remained near its yearly lows. It measures the share of capitalization concentrated among coins younger than 1 month [not moved in a month or less].
Crypto analyst Axel Adler Jr. used this metric to gauge new capital activity and short-term demand. The analyst observed a reading of 8.1, with the lower boundary at 7 and the upper at 50.
This meant an increase in new capital, but not in enough strength to point toward a BTC trend reversal.
Source: Axel Adler Jr. Further evidence of a local stabilization instead of a reversal came from the short-term holder spent output profit ratio [STH SOPR]. The metric measures the average profitability of short-term Bitcoin holders.
Its 7-day moving average was at 0.99, below the 1.0 mark that separates profitability from realized losses.
A sustained recovery in the metric above 1.0 would signal market sentiment has shifted. As things stand, the lack of significant participation from new capital and short-term holders realizing losses meant that bears were still in control.
Final Summary Bitcoin has not yet found the momentum to take prices above the $65k-$67k local supply zone. The bounce toward $65k was only a brief respite from selling, and not the beginning of a bullish recovery, the metrics showed.
Bitcoin is experiencing a very difficult month of July. Indeed, institutional investors are massively withdrawing their capital from tech stocks and the military situation in the Middle East is deteriorating. This has a direct negative impact on the crypto market, which now suffers from strong risk aversion. Such macroeconomic pressure from both sides weakens Bitcoin’s summer trend and pushes investors to reduce their investments. Today, every move in global markets can worsen Bitcoin’s correction, increase volatility, or change forecasts for the rest of the cycle.
In brief Bitcoin stalls below the key resistance of $65,000 since the beginning of July. Hedge funds are liquidating tech stocks at a record pace unmatched for 10 years. The armed conflict between the U.S. and Iran and the closure of the Strait of Hormuz keep oil above $80. Despite the summer pause, the formation of rising lows suggests a breakout towards $67,000. An institutional flight from Tech and the oil shock in the Middle East The world is currently facing a significant economic shock. Many investors have withdrawn their money from the U.S. stock markets. Also, there are serious geopolitical problems. Here are the key points that explain this difficult situation :
A significant withdrawal of investors in the technology sector : according to Goldman Sachs and The Kobeissi Letter, hedge funds are selling tech company stocks at an unprecedented pace. The Kobeissi Letter states that “hedge funds have sold tech sector stocks in six of the last eight weeks. This means the total sales during these eight weeks are the highest in at least ten years” ; The military situation and sanctions : the conflict between the U.S. and Iran makes investors less willing to take risks. President Donald Trump has asked for Iran to be added to a sanctions list originally targeting Russia ; Tensions in the energy market : crude oil prices remain above $80 per barrel, which is high, and the Strait of Hormuz remains closed. International relations are deteriorating and capital is withdrawing, which has a direct impact on volatility in Wall Street stock markets. At the reopening of markets this Monday, indices showed very different results. The Dow Jones fell by 0.3% for the day, while the S&P 500 and Nasdaq Composite managed to increase slightly. This unstable situation temporarily reduces liquidity available in all financial markets, which affects investments in the crypto sector.
Bitcoin under pressure facing the key $65,000 resistance Bitcoin’s price currently experiences some instability due to the current macroeconomic climate. Thus, it is stuck around the $65,000 level. There is an observed increase in bitcoin volatility against the U.S. dollar during the opening of Wall Street. Bitcoin has repeatedly tried to surpass this threshold without success.
Trader Daan Crypto Trades observed that the price was stuck for some time. He noted on the social network X that “the $65,000 level has prevented the price from rising throughout this July so far”. Analyst and trader Michael van de Poppe thinks the momentum slowdown is partly due to the summer seasonality effect. He described the atmosphere by stating: “it feels like the markets are on summer pause”.
This $65,000 ceiling is a true behavioral and technical barrier that freezes prices. The summer period’s typical slowdown amplifies the asset’s sensitivity to stock market shocks originating from traditional markets. Retail and institutional investors hesitate to commit new capital as long as this upper limit does not show clear signs of weakness. This relative lethargy keeps the crypto market in a narrow channel, closely watching the overall liquidity evolution and capital flows on Wall Street.
A breakout towards $67,000? Despite the psychological barrier of $65,000, Bitcoin’s underlying momentum shows encouraging signs of upward compression. The continuous formation of higher lows over the past three weeks indicates constant buying support. Daan Crypto Trades further complemented his technical analysis by stating: “but I think the longer the price stalls here, the more likely the $65,000 level is to give way. Especially with the higher lows formed over the past three weeks”. Investors are now closely watching the level just above $67,000, identified as the strategic pivot point to cross this threshold.
A push beyond $67,000 would allow the BTC/USD price to fully shift into a bullish market structure. This technical transition would invalidate the phase of doubt accumulated during this month and theoretically open the way for a rally towards $70,000. The accumulation observed despite the massive tech stock disengagement indicates that the fundamental demand for Bitcoin remains robust.
Record sales in U.S. tech and the Middle East conflict negatively impact investor sentiment. However, Bitcoin’s chart shows some resilience. If Bitcoin surpasses the $65,000 barrier, this could trigger reaching $67,000 and restart a sustainable upward trend. The upcoming sessions will be very important to see if Bitcoin can exit this summer lethargy.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Binance founder Changpeng Zhao (CZ) stated that while artificial intelligence and Bitcoin are often considered together in investment markets, they fundamentally serve different functions. According to CZ, AI increases productivity, while Bitcoin is a unique asset that can be used to hedge against inflation and preserve wealth.
In a statement on his social media account, CZ said, “AI is amazing, but it can’t protect you from inflation. Bitcoin can.”
CZ stated that while artificial intelligence is a technology that increases business efficiency and overall economic productivity, Bitcoin, as a digital asset with a limited supply, offers a different value proposition.
CZ noted that the artificial intelligence sector is growing rapidly, stating that global companies are investing billions of dollars in AI infrastructure such as software, data centers, and advanced chips. He pointed out that these investments are accelerating transformation in many sectors, particularly healthcare, finance, and manufacturing.
However, CZ reminded that AI companies can issue new shares and raise capital to finance their growth. Therefore, he stated that the investment value of these companies continues to depend on their operational performance, profitability, and intense market competition.
CZ stated that Bitcoin’s total supply is limited to 21 million units, a structure that prevents the asset’s supply from being increased and investors’ share from being diluted. According to CZ, Bitcoin’s scarcity makes it stand out as a long-term store of value during periods when the purchasing power of fiat currencies declines due to inflation.
CZ had previously stated that the investment boom in the AI sector could attract some of the capital expected to flow into the Bitcoin market. He noted that with AI companies like OpenAI and Anthropic attracting more investor interest, some investors might sell other assets and allocate resources to AI-focused investments.
However, CZ believes that AI and Bitcoin should not be considered direct competitors. According to the Binance founder, while AI supports technological progress and increased productivity, Bitcoin plays a complementary role by offering a store of value unaffected by supply expansion.
*This is not investment advice.
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According to trader Josh Olszewicz, just "a small nudge" is all that stands between Bitcoin and "full breakout territory."
A look at the 6-hour BTC/USD chart reveals two distinct bullish setups working in tandem: inverse head and shoulders (iHS) and the falling wedge.
The chart clearly defines a classic trend-reversal pattern, with the left shoulder forming in June, the head bottoming out in early July near $57,800, and the right shoulder solidifying mid-month.
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Moreover, Bitcoin has broken out above the descending resistance line of a multi-week falling wedge.
The main technical target sits in a golden zone between the 1.618 Fibonacci level ($72,669) and the 2.0 Fibonacci level ($76,698).
Bitcoin is currently showing stronger relative momentum than gold. A key battleground remains the $65,000 zone, which has consistently attracted sellers on recent tests. However, the bearish response at this level is weakening. Stanley notes that this price action is setting the stage for an ascending triangle, which is a classic bullish formation.
$BTC still looking a touch more positive than Gold
65k still the spot
it's gotten sellers so far on each test but the response there has weakened with higher-lows holding so far in July
this is what leads to ascending triangles and those are bullish formations https://t.co/K8Sq5VHhAM pic.twitter.com/BFwBpfclZd
— James Stanley (@JStanleyFX) July 20, 2026 A rally to $100,000?While technical setups point to an imminent short-term breakout, Galaxy Digital CEO Mike Novogratz is looking at the macro variables required to push Bitcoin into six-figure territory.
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The billionaire investor recently stated that he expects Bitcoin to largely consolidate between $60,000 and $80,000 for the remainder of the year. However, a move toward $100,000 is entirely possible if a "perfect storm" of regulatory clarity, macroeconomic tailwinds, and renewed demand.
Strategy holds Bitcoin steady In the meantime, Michael Saylor’s Strategy maintained a neutral stance in the market last week.
The enterprise software giant neither bought nor sold any Bitcoin over the latest seven-day period. Instead, the firm focused on fortifying its balance sheet, increasing its fiat capital by $225 million.
Strategy boasts an immense corporate treasury consisting of a 3.2 billion USD reserve alongside its massive haul of 843,775 BTC.
Capital B, the Paris-listed bitcoin treasury company once known as The Blockchain Group, will combine every 10 existing shares into one new share beginning September 8, according to a regulatory filing the company published Monday.
The consolidation reduces the number of outstanding shares from 300,650,632 to 30,065,063. Each new share will carry a par value of €0.80, up from €0.08 for the existing stock. The company framed the transaction as a “purely technical exchange” that leaves the aggregate value of each shareholder’s holdings unchanged, save for the treatment of fractional entitlements.
Capital B said the move aims to “support the company’s institutional development and to open the company’s shares to a broader universe of investors.”
Many institutional funds operate under internal rules that bar them from holding stocks below a set price, and some exchanges impose minimum-price thresholds for continued listing. A higher quoted price per share removes one barrier to that participation.
Capital B shares trade near €0.48 on Euronext Growth Paris and have declined about 40% since the start of the year, per Google Finance data. Should the company’s market value hold, each consolidated share would open near €4.80.
Key dates for Capital B shareholders The reverse split period runs from August 6 through September 7. Shareholders who hold a number of shares divisible by 10 will see their positions converted with no action required.
Those holding leftover shares can buy or sell stock before the deadline to reach a round multiple of 10. For investors who do not, financial intermediaries will sell the shares tied to fractional entitlements and distribute the cash proceeds, with payments set to begin September 14.
September 7 marks the final trading day for the existing shares. The consolidated shares start trading the following day under a new ISIN, the code exchanges use to identify a security. The company has set September 9 as the record date and September 10 for settlement and delivery.
Capital B will also pause conversions of certain convertible bonds and exercises of share warrants from August 17 through September 10. After the split, the company will adjust conversion prices and warrant ratios to reflect the reduced share count, multiplying bond conversion prices by 10 while dividing warrant ratios and unvested free shares by 10.
Treasury strategy stays central
The share restructuring does not add bitcoin to the balance sheet or raise new capital on its own. It changes the number and nominal value of shares through a technical consolidation, a step the company tied to its goal of reaching a wider investor base.
Capital B’s bitcoin holdings Capital B holds 3,139 BTC, a figure that ranks it as the second-largest listed corporate bitcoin holder in Europe, according to BitcoinTreasuries.net. Germany’s Bitcoin Group SE sits ahead of it with 3,605 BTC, the data shows. Capital B, which describes itself as Europe’s first bitcoin treasury company, built much of that position through fundraising rounds during the first half of 2026.
In May, it acquired 192 BTC for €13 million after completing three capital raises.
The company has moved to widen its access to capital. In June, shareholders approved authority for as much as €5 billion in capital increases and €100 billion in credit instruments, resolutions that drew more than 95% support from votes cast. Those approvals give the board financing capacity for future purchases.
Capital B measures progress through bitcoin held per fully diluted share rather than total reserves alone, a framework common among bitcoin treasury companies. The firm has also said it is developing a bitcoin-backed credit product for the European market, though it has not set a launch date.
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
Bitcoin Japan, a subsidiary of Asia’s answer to Strategy, Metaplanet, has announced it entered into a financing agreement to start buying the leading cryptocurrency for its treasury.
The Tokyo-based, publicly-listed company said Thursday that it had approved a convertible bond deal with EVO Fund to raise 9.66 billion yen ($59.5 million). The deal will see the company spend over 662 million yen — or over $4 million — on its first Bitcoin transaction.
Bitcoin Japan works on Bitcoin-related media, data platforms and events to promote the understanding of the leading cryptocurrency in Japan and “contribute to the development of its ecosystem globally,” according to its website.
Its parent company, Metaplanet, is a publicly-traded company following in the footsteps of Nasdaq-listed Strategy — formerly MicroStrategy — by buying and holding Bitcoin on its balance sheet. It first started buying the asset in 2024.
Metaplanet is one of the biggest Bitcoin treasuries in the world, with 43,000 digital coins worth over $2.8 billion in its coffers. Its stock is currently down over 50% year-to-date.
JUST IN: 🇯🇵 Japan Public company Bitcoin Japan Corporation has raised $60 million through convertible bonds, allocating $4.08 million to make its first buy for their BTC treasury 👀
BULLISH 🚀 pic.twitter.com/gn7hihxJ68
— Bitcoin Magazine (@BitcoinMagazine) July 17, 2026 Treasury woes Bitcoin Japan’s announcement comes as treasury companies see their stock slide. Last year, the business model of buying and holding Bitcoin and other digital assets with spare cash suffered with a plunge in crypto prices.
Strategy, the biggest and oldest Bitcoin treasury, has seen its Nasdaq-listed stock nosedive by nearly 80% over the past year.
Little known publicly traded companies in 2025 rushed to announce they were buying digital assets in a hope to boost their stock prices. The strategy worked but since the market downturn, a number of firms in the space have had to sell a portion of their holdings as the price of Bitcoin has slumped.
But companies are still accumulating during the downturn — and firms like Bitcoin Japan are seeing the current market price of the leading asset as an opportunity to start a crypto treasury.
Regulatory push While Japan has long been a hub for crypto enthusiasts — former major Bitcoin exchange Mt. Gox was based in Tokyo before a 2014 hack and its subsequent closure — lawmakers are now working on regulating the asset class.
Japan’s parliament last week passed a law amendment to designate cryptocurrency assets as “financial assets,” making the assets subject to stricter regulations, eventually paving the way for products like Bitcoin exchange-traded funds to debut in the Asian nation.
The regulation is likely to come into effect within a year, Reuters reported, citing NHK news.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
The Bitcoin treasury firm Strategy (MSTR) has now gone four consecutive weeks without buying any BTC.
The company announced on Monday that it had increased its US dollar reserves by $225 million over the past week, though it refrained from buying any new Bitcoin.
It’s Strategy’s second consecutive week without buying or selling any BTC after last week’s announcement that it had added $450 million to its cash reserves.
Those announcements followed a two-week period where the firm sold a total of 3,588 BTC for $216 million. The sales, which sparked headlines across the crypto sector, materialized under the Strategy’s newly introduced BTC monetization program, designed to bolster the firm’s cash reserve and support dividend payments.
The company still holds 843,775 Bitcoin worth $54.9 billion at time of writing, as well as $3.2 billion in cash reserves.
Chaitanya Jain, Strategy’s head of Bitcoin product and investor strategy, says the firm’s dividend coverage now stands at 1.8 years through their USD Reserve and 31 years through their BTC Reserve.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate holder of BTC by a wide margin.
The firm’s stock, MSTR, is down nearly 38% year-to-date but up more than 3% in the past five days.
A wave of institutional investment in XRP is taking shape as eight public companies have pledged almost $2 billion for dedicated XRP treasuries. Notably, leading firms are formalizing substantial commitments to XRP as an asset on their balance sheets, with full public disclosure in line with regulatory requirements. This shift echoes the path that propelled Bitcoin into corporate finance circles.
The companies and their commitmentsTrident Digital Tech Holdings, a Singapore-based technology firm listed on Nasdaq, tops the list by planning to raise $500 million for one of the largest corporate XRP treasuries to date. Webus International, active in cross-border payments, is seeking $300 million in non-equity financing to establish an XRP-backed reserve supporting its global network.
VivoPower International, a sustainable energy company, raised $121 million in private funding, allocating $100 million for XRP and staking those funds on the Flare Network. Other participants include Wellgistics Health, which secured a $50 million equity line drawn specifically for an XRP treasury; and Japan’s Gumi Inc., introducing a $17 million program split between XRP and Bitcoin.
Nature’s Miracle Holding, a supplier of agricultural products, announced a $20 million XRP treasury initiative, becoming the first U.S.-listed non-financial public company to do so. Hyperscale Data committed $10 million to XRP, while Worksport, a manufacturer in the automotive sector, allocated up to $5 million derived from its existing operational cash flow.
Mini dictionary: Flare Network – A decentralized, interoperable blockchain designed to bring smart contract functionality to various tokens and facilitate staking and bridging between blockchains.
CompanyCountrySectorXRP Treasury CommitmentTrident Digital Tech HoldingsSingaporeTechnology$500 millionWebus InternationalUndisclosedPayments$300 millionVivoPower InternationalGlobalEnergy$100 millionWellgistics HealthUndisclosedHealthcare$50 millionGumi Inc.JapanGaming/Tech$17 million (XRP & BTC)Nature’s Miracle HoldingUSAAgriculture$20 millionHyperscale DataUndisclosedData/Technology$10 millionWorksportUSAAutomotiveUp to $5 millionThe blueprint that brought Bitcoin into mainstream company treasuries is now increasingly being applied to XRP, with eight public firms announcing nearly $2 billion in in-house XRP reserves.
Strategic objectives and funding modelsUnlike speculative trading, these allocations are long-term treasury strategies embedded into the companies’ financial planning. Trident Digital and VivoPower have financed their positions with capital raised from investors, while Webus International opted for debt-based facilities. Worksport redirected surplus cash, and Hyperscale mixed direct acquisitions with DeFi-based lending mechanisms.
Soon Huat Lim, CEO of Trident Digital Tech Holdings, stated that digital assets are central to the changing global financial landscape, indicating the firm’s conviction in holding XRP for strategic purposes.
According to Soon Huat Lim, embracing digital assets within the company’s treasury is aligned with their long-term vision for global finance.
XRP follows the corporate bitcoin playbookThe trend mirrors the playbook initiated by Strategy, previously MicroStrategy—a US-based business intelligence company—in 2020, which famously allocated billions into Bitcoin. With approximately $2 billion in planned corporate XRP treasuries, institutional adoption is accelerating along similar lines.
Legal clarity around XRP’s regulatory status has improved, encouraging public companies to make significant, publicly disclosed investments. Each new treasury signals growing institutional acceptance and helps reinforce XRP’s profile as a reserve asset among listed firms.
Notably, Evernorth, a Ripple-supported digital asset treasury company, currently holds nearly 0.5% of XRP’s total token supply but is not included in the current tally of public commitments.
Mini dictionary: Evernorth – An institutional-grade digital asset treasury manager focused on helping large organizations allocate digital assets for long-term holdings, with particular expertise in XRP-based reserves.
The sustained accumulation by multiple public companies underlines structural demand for XRP and could have long-term effects on its price stability as institutions scale up their positions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Strategy, the largest institutional Bitcoin investor, continues to pause its Bitcoin purchases. After selling a significant amount of BTC in recent weeks, the giant company has not made any new BTC purchases for the past two weeks.
At this point, Strategy announced that it did not make any BTC purchases last week either.
According to Strategy founder Michael Saylor, Strategy sold $466.7 million worth of MSTR shares but did not purchase any Bitcoin.
According to an SEC filing dated July 20, Strategy sold 2.73 million shares of MSTR between July 13 and July 19 for a net proceeds of $263.5 million.
Continuing to adhere to its Digital Credit Capital Plan announced at the end of June, Strategy is also continuing to strengthen its dollar reserves.
In this context, the company did not make any Bitcoin purchases during the week, but increased its dollar reserves. Accordingly, the company’s US dollar reserves rose to approximately $3.23 billion, while maintaining its holdings at 843,775 BTC as of July 20, 2026.
Ethereum Purchases Continue! While Strategy opted to pause its Bitcoin purchases, BitMine, the largest Ethereum treasury company, continued its weekly purchases and added 7,430 ETH to its treasury.
BitMine, headed by Tom Lee, announced that it purchased 7,430 ETH in the past week. This purchase brings the company’s total holdings to 5,777,468 ETH, which is approximately 4.8% of the Ethereum supply.
The company added that it staked 4.92 million ETH, representing approximately 85% of its assets, and also repurchased 5.5 million shares at an average price of $15.62.
The total amount of cryptocurrency, cash, and other investments reportedly reached $11.5 billion.
Tom Lee said the following:
“Last week we purchased 7,430 ETH. The slowdown in purchase speed is due to Bitmine’s repurchase of 5.5 million common shares. We believe that the repurchase of our common shares will have a positive impact on shareholder value.”
Bitmine has been buying ETH every week since the start of its ETH Treasury Strategy on June 30, 2025.
Furthermore, Bitmine has staked more ETH than any other organization in the world.
*This is not investment advice.
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Top Ethereum treasury company Bitmine said Monday its Ether holdings had reached 5.78 million tokens, representing about 4.8% of Ethereum’s circulating supply, as the company closed in on its stated goal of accumulating 5% of all ETH.
According to Monday’s announcement, the company added 7,430 ETH (ETH) over the past week. About 4.9 million ETH, or roughly 85% of its treasury, is currently staked through its validator network and partners.
Bitmine valued its crypto, cash and marketable securities at $11.5 billion, including 207 Bitcoin and $385 million in cash and securities. The company also repurchased 5.5 million shares during the week under its previously authorized $4 billion buyback program.
Earlier this month, BitMine said its institutional staking platform, MAVAN, generated $45.7 million in staking and validation revenue during the three-month period ended May 31, accounting for 98% of the company’s total revenue.
BitMine shares were up more than 6% in Monday afternoon trading, bringing their one-month gain to around 3.3%.
Source: Yahoo Finance
Ethereum gains momentum, Strategy builds cashThe announcement comes after the world’s largest corporate Bitcoin holder Strategy paused Bitcoin (BTC) purchases for a second straight week, instead raising capital through stock sales and growing its cash reserve to more than $3.2 billion.
Ethereum (ETH) has also outperformed Bitcoin over both the past week and month. It has gained about 6.7% over the past seven days and 10% over the past month, compared with gains of roughly 5.8% and 2.6%, respectively, for Bitcoin (BTC), according to CoinGecko data at the time of writing.
Source: CoinGecko
Robinhood Chain fuels optimism around EthereumEarlier this month, Robinhood launched Robinhood Chain, an Ethereum layer-2 network built on Arbitrum for tokenized stocks.
During its first two weeks, the blockchain attracted more than $141 million in bridged Ether and reignited debate over whether institutional adoption of Ethereum’s scaling networks ultimately drives demand for ETH.
Max Shannon, senior research analyst at Bitwise, told Cointelegraph Robinhood Chain reflects the “growth of the Ethereum ecosystem,” particularly among traditional financial institutions.
Whether that institutional growth ultimately strengthens ETH remains an open question. ARK Invest’s Lorenzo Valente argued Robinhood Chain supports the bullish case for ETH as the ecosystem’s monetary asset, but weakens the investment thesis that Ethereum derives significant value from layer-2 fee revenue.
Bernstein analysts on Monday raised their price target on Robinhood, to $160 from $130 per share, based on their investment thesis that the online brokerage’s next phase of growth will be driven by tokenized equities and prediction markets rather than traditional crypto trading.
The firm highlighted Robinhood Chain as its proprietary infrastructure for tokenized real-world assets, enabling the platform to build on-chain financial products without relying on third-party blockchains.
The price of ETH has climbed about 20% from roughly $1,582 on July 1, when the chain launched, to around $1,900 at the time of writing.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Bitcoin and Ethereum funds pulled in a combined $181 million over the same week as HYPE's nine-week inflow streak broke.
Spot Hyperliquid (HYPE) exchange-traded products recorded their first weekly outflow since launching in May, according to CoinShares' weekly Digital Asset Fund Flows report.
The products shed $7.26 million in the week ending July 17, ending a run of nine consecutive weeks of inflows.
The withdrawal trimmed cumulative net inflows to $301.34 million from $308.6 million. Net assets under management fell 12.7% to $306.03 million, a steeper drop than the cash outflow alone would imply, reflecting mark-to-market losses as the token's price declined over the week.
Majors Draw Inflows The week's outflow set Hyperliquid apart from the largest digital asset funds, which moved in the opposite direction over the same period.
Bitcoin (BTC) funds drew $75.67 million, a second straight positive week following eight consecutive weeks of outflows, per CoinShares. Ether (ETH) products added $105.44 million, XRP funds gained $6.78 million, and Solana (SOL) products collected close to $1 million.
Combined, the four leading fund groups pulled in more than $188 million for the week, indicating capital was rotating toward established names rather than exiting digital asset products broadly.
The fund outflow coincided with a decline in the token itself. HYPE fell more than 8% over the week, the largest drop among the top 10 cryptocurrencies by market capitalization, according to CoinGecko data. The token briefly slipped below $60 before recovering to the low-$60s.
Dogecoin price hovered near $0.072 on Monday after posting a modest weekly gain.
The broader cryptocurrency market remained largely steady, with Bitcoin price holding above $64,000.
Ethereum price was over $1,870, whereas XRP remained under the significant mark of $1.10. Whale buying amounting to 200 million DOGE was a bullish activity. Open interest also increased 3.74% to reach 1.08 billion, reinforcing anticipations of a potential breakout.
Dogecoin Whales Add 200 Million DOGE Through Robinhood Dogecoin whales bought 200 million more DOGE via Robinhood, bringing new focus to the meme coin market.
Dogecoin whales purchased another 200 million $DOGE on Robinhood.
Valued at $14M. pic.twitter.com/KSrGfPWiGC
— dogegod (@_dogegod_) July 19, 2026
Large holders were busy again as the acquisition was worth close to $14 million. Whale accretion tends to draw traders as large-scale buying can affect sentiment and liquidity forecasts in the short term.
Derivatives Volume Jumps as Open Interest Reaches $1.08 Billion Derivatives data also indicated that there were more Dogecoin-linked contracts that were participated in the most recent session. The level of trading surged 114% to about $739.56 million, indicating a sudden rise in speculation.
Source: Coinglass data The open interest increased by 3.74% to $1.08 billion, which indicated that more capital was still held on active positions. Increased volume and open interest could favor volatility as traders anticipate a potential change in price.
Analyst Predicts Dogecoin Price Surge Toward $3.25 After Breakout A crypto analyst has identified a large double-bottom pattern on Dogecoin’s weekly price chart. The formation has two big lows and then rebounds towards a common neckline resistance point.
The analyst believes a breakout above the neckline would support the long-term bullish view of Dogecoin. The movement recorded in the chart implies that the market could have a price target of about $3.25 in an extended market run.
X The market conditions typically indicate a weakening of selling pressure when they occur following a long-run downward trend. Nevertheless, Dogecoin will have to overcome local resistance and stay on a solid purchasing momentum.
The estimated target is hypothetical until the price proves the pattern by a decisive breakout on a weekly basis. Broader crypto market conditions could also influence Dogecoin’s ability to continue higher.
Dogecoin Price Eyes $0.08 as Buying Pressure Strengthens The DOGE price traded at $0.07212 on Monday, declining 1.07% during the latest four-hour session. Dogecoin price stayed above the major support of $0.070 amid the persistent pressure at $0.075.
The MACD line was negative 0.00017, a little higher than the negative 0.00020 signal line. Its histogram became slightly positive at 0.00003, indicating that bearish momentum was losing strength.
Meanwhile, the Chaikin Money Flow increased to 0.28, which indicated stronger capital inflows. This reading implies that buyers were still piling DOGE in spite of little price action.
Source: DOGE/USDT 4-hour chat: Tradingview A breakout above $0.075 decisively could have a recovery to $0.080 as per the full Bitcoin forecast report. Further buying pressure may place the $0.085 resistance level within reach. But a failure at $0.070 would precipitate a return to selling at $0.068.
Bitcoin climbed beyond the $65,000 mark on Monday after Senator Cynthia Lummis announced the CLARITY Act had cleared committee and advanced to the full Senate floor, marking a key step toward U.S. crypto market structure legislation.
Notable Statistics Coinglass data shows 79,479 traders were liquidated in the past 24 hours for $245.39 million. SoSoValue data shows net inflows of $132.3 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $36.7 million. In the past 24 hours, top gainers include Pump.fun, Virtuals Protocol and Pi. Notable DevelopmentsTrader NotesTrader KillaXBT noted Bitcoin is testing a key low-timeframe resistance after breaking above recent highs ahead of the new weekly open.
A rejection at current levels could signal a red week and reduce the chances of a move to sweep the $67,000 highs, making this area critical for maintaining bullish momentum.
Michael van de Poppe expects Bitcoin to rally toward the $80,000–$85,000 range over the next two to three months. He argued that the move would align with the 50-week moving average, which has historically acted as resistance during the first major rally after a bear market ends.
Trader and investor Virtual Bacon says the CLARITY Act’s House approval shifts the focus to a Senate floor vote before the August recess.
While its passage would be a major long-term catalyst for altcoins by enabling exchange products and new market narratives, they argue it won’t trigger an immediate rally, with Bitcoin needing to confirm the next bull market first.
Image: Shutterstock
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Crypto KOL Ansem posted that although the current market is still in a correction phase, this cycle has multiple conditions that can drive large-scale retail participation. Ansem noted that Solana is currently down around 75% from its all-time high, while Bitcoin is roughly 50% off its peak. However, the industry’s infrastructure and user experience have improved significantly compared to the previous cycle, including more mature mobile trading experiences, easier cross-chain functions, and lower entry barriers for new users. He added that in this cycle, more high-quality developers are building projects via a combination of tokens and equity, while institutions’ interest in Real World Assets (RWA), regulatory frameworks related to the Clarity Act, and crypto initiatives from traditional tech firms like Stripe and Robinhood is growing. Ansem believes the surge in AI stocks over the past few years, along with wealth-creation cases from meme coins in crypto, is boosting the market’s focus on short-term trading opportunities. Some meme coins have previously grown from scratch to reach hundreds of billions in market cap, while current popular meme projects remain at relatively low circulating market cap stages. He pointed out that with the development of perpetual contracts, institutional-grade trading products, and the trading ecosystem for meme coins and small-cap tokens, this cycle could attract both institutional investors and risk-seeking retail participants. Ansem said that if teams can successfully advance their mobile app rollouts, it will further draw new users who previously stayed out of crypto due to operational complexity, pushing this cycle to become one of the largest in terms of retail participation.
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Bitcoin mining company LM Funding America (NASDAQ: LMFA) announced it will rebrand to PowerCompute Inc. and adopt a new stock ticker "PWCM" effective July 22. The company stated that the rename marks its strategic transformation, as it leverages its existing 26 megawatts (MW) of owned power infrastructure to expand into high-performance computing (HPC) and artificial intelligence (AI) infrastructure businesses. Currently, the firm operates two facilities in Oklahoma and Mississippi, U.S., with 26 MW of power capacity, and plans to provide infrastructure services to AI computing clients. It will also continue holding Bitcoin assets as part of its balance sheet.
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U.S. Strategic Petroleum Reserve stocks have fallen to their lowest level since 1983.
U.S. Strategic Petroleum Reserve (SPR) crude oil inventories fell by approximately 5.1 million barrels last week, dropping to 311.4 million barrels, the lowest level since 1983.
3 hours ago
Morgan Stanley: As memory shortage intensifies, DRAM prices may rise by at least 25% quarter-on-quarter in the third quarter.
Morgan Stanley analyst Joseph Moore noted that following discussions with multiple data center procurement personnel last week, the current tight memory supply shows no signs of easing. DRAM and other memory products are expected to rise by at least 25% on a comparable basis from the second quarter to the third quarter, a figure higher than previous forecasts from Morgan Stanley and third-party institutions. Moore added that the memory shortage could further deteriorate in 2027 and 2028, as AI demand is consuming massive DRAM capacity, squeezing supplies for other sectors such as PCs and smartphones. Morgan Stanley further holds that the current market is not only grappling with surging memory demand driven by AI, but insufficient memory supply itself is emerging as a key bottleneck limiting AI expansion.
3 hours ago
The US military said it has forced seven commercial vessels to divert course and disabled one to restrict access to Iranian ports.
U.S. Central Command said that as of July 20, U.S. military forces have forced seven commercial vessels to alter their routes and disabled one merchant ship to prevent vessels from entering or leaving Iranian ports. (Jinshi)
Bitcoin slipped to around $63,900 on Monday before recovering to $65,000 and holding above that level, as markets reacted to fresh reports of a possible pause in the U.S.-Iran conflict.
Reuters reported that Iranian mediators have proposed a 10-day ceasefire to allow talks aimed at reviving the previous interim agreement between the U.S. and Iran. The report pushed WTI crude oil down to around $80 a barrel and helped Bitcoin climb to $65,000.
Bitcoin remains up over 3% over the past week despite the uncertainty. The broader crypto market held strong, with Solana and Ether down less than 0.5% over 24 hours. Hyperliquid’s $HYPE remained one of the weakest major tokens, falling 5% over the week to around $62.
Solana Recovers From $74.25 Low Solana has also staged a gradual recovery after falling as low as $74.25 last week.
$SOL began climbing steadily on Friday, July 17, and sharply spiked past $77 on Monday, although it remains sensitive to broader risk sentiment and geopolitical developments.
Bitcoin ETF Inflows Turn Positive for 2 Straight Weeks U.S.-listed spot Bitcoin ETFs recorded $75.7 million in net inflows last week, according to SoSoValue, marking their second consecutive week of positive flows.
The funds attracted $197.4 million the previous week, bringing July’s net inflows to $200.2 million. However, the recovery remains modest compared with the $4.5 billion in net outflows recorded in June. Total ETF flows for 2026 remain negative at $5.2 billion.
Bloomberg ETF analyst Eric Balchunas compared Bitcoin ETFs with the historical trajectory of gold ETFs, arguing that both products may experience rapid adoption followed by periods of weaker performance.
He suggested Bitcoin ETFs could go through cycles of strong gains, painful drawdowns and recoveries that potentially establish higher highs over time.
Strategy Adds $225M to Cash Instead of Buying Bitcoin Michael Saylor’s Strategy sold $263.5 million in common stock last week and directed $225 million toward its cash reserves, according to a Monday filing.
The move increased Strategy’s cash reserve to $3.225 billion, enough to cover roughly 22 months of dividend payments on its high-yielding $STRC preferred stock.
Strategy continues to hold 843,775 BTC. However, the company has now gone 2 consecutive weeks without buying Bitcoin, instead directing capital raised from stock sales toward strengthening its cash position.
$PUMP Hits 2-Month High After Ansem Reveals Position Pump.fun’s $PUMP emerged as a notable exception to the weaker altcoin market, surging more than 17% to become the top-performing cryptocurrency among the top 100 top cryptocurrencies.
The token reached an intraday high of $0.00207, its strongest level since May 12, and is currently trading close to that level.
$PUMP had 82.5 billion tokens unlocked on July 12 as a result of the expiration of a vesting cliff for the allocation to team members and investors. Surprisingly, the price action has held strong and is now over 40% up since the unlock. The recent rally began Sunday when $PUMP jumped from roughly $0.0016 to $0.0019 after crypto trader Ansem disclosed a new $PUMP position and outlined a bullish view on the memecoin launchpad.
Crypto Fear and Greed Index Remains in “Fear” Despite Bitcoin’s recovery above $65,000, broader crypto market sentiment remains cautious. CoinMarketCap’s Crypto Fear and Greed Index currently sits at 35, firmly in “Fear” territory. However, sentiment has improved from a reading of 28 last week and 22 last month, while remaining unchanged from yesterday’s reading of 35.
The gradual improvement coincides with Bitcoin’s rebound and the return of positive spot Bitcoin ETF flows. However, persistent geopolitical uncertainty, elevated oil prices and pressure across global equities continue to weigh on risk appetite.
The index suggests traders remain hesitant to fully embrace the recovery, making Bitcoin’s ability to hold and decisively break above $65,000 particularly important for near-term sentiment.
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Solana’s native token, SOL, has shown signs of recovery, near $76.68 after a 1.66% increase over the past 24 hours. This rebound follows Bitcoin’s recent surge past $65,000, which has since retracted slightly to around $64,750. Despite the uptick in SOL’s price, market sentiment remains cautious, with negativity peaking earlier in the month and volume falling to its lowest level of 2026. This sentiment is influenced by SOL’s current price being approximately 74% below its all-time high of $293. The news comes amid broader market optimism due to Bitcoin’s performance, though participants remain wary of Solana’s trajectory.
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Key Takeaways Market activity suggests some recovery in Solana’s price, consistent with a 1.66% increase alongside Bitcoin’s brief surpassing of $65,000. Despite the price recovery, sentiment toward Solana remains negative, suggesting participants’ fear due to low volumes and significant distance from its all-time high. The pricing of Solana’s market indicators suggests a potential, but cautious, upside, with expectations of a moderate increase in price following Bitcoin’s influence. What to Watch Market participants will be monitoring Solana’s ability to sustain its current price levels or possibly rise further, especially if Bitcoin continues its upward momentum. Key indicators to watch include any significant changes in volume and sentiment shifts, which could influence Solana’s market trajectory. Additionally, developments such as Solana’s technological upgrades or regulatory news affecting crypto markets could impact the likelihood of SOL reaching higher price targets, such as $90 by the end of July.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 8.5% — — View market → August 1 2026 0.2% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.7% — — View market → August 1 2026 0.5% — — View market → August 1 2026 1.9% — — View market → August 1 2026 0.5% — — View market → August 1 2026 2.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.1% — — View market → August 1 2026 22.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market →
