Track market-moving stories before they get noisy

Brian Armstrong put a simple question to around 27,000 people on X. The answer was uncomfortable, and the market is backing it up.

Brian Armstrong does not usually run polls. When the Coinbase CEO does, the crypto market pays attention.

On Tuesday morning, he posted a question to his followers on X: "Is the bottom in?" With around 27,000 votes cast and 12 hours remaining, 56.3 percent said no. Only 43.7 percent believed the worst was behind them.

The timing was pointed. Bitcoin had slipped below $62,000 overnight, down 3.27 percent from the previous day, as US-Iran military tensions flared again over the weekend and oil prices jumped roughly 10 percent on fresh restrictions on Iranian shipping.

Risk assets broadly took the hit, and Bitcoin, sitting nearly 50 percent below its all-time high of $128,000, had less room to absorb it.

What the market is watchingThree events this week are pulling Bitcoin in different directions simultaneously. The June CPI print landed Tuesday, analysts expected it to slow to 0.2 percent from 0.5 percent in May, with annual inflation projected to fall to 3.8 percent.

A soft print revives rate-cut hopes. A hot one keeps rates elevated and risk appetite compressed.

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The Fed meets July 28 and 29. Fed Governor Christopher Waller has already warned that another strong inflation reading could push the central bank toward tighter policy, and the odds of a September rate hike jumped to 51.6 percent on the CME FedWatch Tool.

Trending on TheStreet RoundtableDonald Trump breaks silence on $1B crypto earningsMichael Saylor reveals why Strategy sold Bitcoin and why critics are wrongBillionaire investor reveals key reasons behind Bitcoin's declineFor Bitcoin, which trades as a risk asset in rising-rate environments, that signal matters more than almost anything else on the calendar.

Where the key levels sitFidelity's power-law support line sits at approximately $56,500, meaning Bitcoin could fall around 9 percent from current levels before reaching that floor.

Below that, some analysts have flagged $49,867, the -1.0 MVRV band, as the level that would constitute a genuine major buy signal.

Losing $60,000 cleanly remains the line most traders are watching. Armstrong's poll suggests the majority of the market is not convinced that line will hold.

18h43 ▪ 3 min read ▪ by Eddy S.

Summarize this article with:

Bitcoin ETFs are experiencing their worst hemorrhage in months: $425 million outflows in 24h. Meanwhile, altcoins are soaring. Is the crypto market about to shift? Between institutional fear and the revival of alternatives, it is time for strategic choices.

In brief With $425 million outflows in 24 hours, Bitcoin ETFs have recorded $5.8 billion since January 2026. Altcoins benefit from Bitcoin’s current weakness, with a rising ETH/BTC ratio. The market is in extreme fear, but whales are accumulating. Rebound or collapse? In a Single Day, Bitcoin ETFs Lose $425 Million Bitcoin ETFs just experienced a black day with $424.66 million net outflows on July 13, 2026, wiping out the timid recovery of the previous week (+$197.4 million). This move is part of a heavy trend where $5.8 billion has been withdrawn from these ETFs since January. Yet assets under management remain colossal at $74.79 billion.

Bitcoin ETF outflows. Despite these massive outflows, the number of Bitcoin whales keeps growing. Is it a stealth accumulation or a last breath before a harsher crash? Especially since the Fear & Greed Index is currently at 22 (Extreme Fear), confirming the gloomy mood. Bitcoin price having already dropped 30% since the start of the year, the $50,000 level is critical for what’s next.

As BTC Collapses, Altcoins Begin to Rise Again As Bitcoin ETFs falter, altcoins take their revenge. According to Tom Lee, the recent break of the ETH/BTC ratio marks a turning point. Investors are turning to altcoins, seen as more dynamic and less exposed to institutional outflows. This rotation is explained by several factors:

Ethereum ETFs attract positive inflows, unlike those of Bitcoin; DeFi and AI projects (e.g., Solana, Chainlink) attract interest due to their concrete utility, far from pure speculation; The Ethereum halving planned in 2027 revives hope for medium-term appreciation. However, this altcoin revival is not without risk. Indeed, the market remains correlated with Bitcoin. A sudden drop in BTC would mechanically drag other cryptos in its wake. Should this be seen as smart diversification… or a liquidity trap?

Bitcoin ETFs tremble, altcoins shine. Should you flee or buy the panic? One thing is certain, the crypto market has never been so polarized. And you, do you prefer the security of traditional ETFs or the risky bet of altcoins on the rise?

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Eddy S.

The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

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Bitcoin open interest across leading centralized exchanges remains significantly below the record levels set during the market’s 2025 peak. Latest figures place open interest at $21.75 billion, marking a 54% decrease from the all-time high of $47.58 billion recorded on October 6, 2025— the day Bitcoin reached its peak price.

Market participants remain cautiousFor the past four months, open interest has hovered near the lows seen in March. This trend indicates most traders have avoided returning to aggressive leveraged Bitcoin positions, opting instead for a cautious approach after last year’s market downturn.

Analysts noted that leverage-driven speculative activity remained muted despite stabilization in Bitcoin’s price. Rather than taking on higher risk via futures markets, participants appear to be positioning defensively.

Compared to past cycles, this period shows both price and open interest declining in tandem, pointing to a coordinated pullback in market exposure instead of widespread forced liquidations.

Exchanges reveal mixed trendsExchange data shows diverging trends. Binance, the largest cryptocurrency exchange by trading volume, grew its share of total Bitcoin open interest to around 35%. However, this gain did not come from an influx of new leveraged bets. In the last 30 days, open interest at Binance fell 13%, and declines were even sharper on competing platforms—allowing Binance’s relative share to increase as overall activity dropped.

Bybit was the outlier among major exchanges, posting a 10% rise in Bitcoin open interest in the same period. Meanwhile, Deribit’s Bitcoin options market activity remained subdued, suggesting traders are not moving risk exposure from perpetual futures to options markets at this stage.

Ethereum, the second-largest cryptocurrency, displayed a similar pattern. While open interest briefly spiked between July 4 and July 6, it soon retreated to previous levels. XRP, another major token, recorded the weakest derivatives activity, with open interest dropping 82% from its high last summer, reaching the lowest point in the current dataset.

Mini dictionary: Bybit is a centralized cryptocurrency exchange established in 2018, offering spot and derivatives trading for a wide range of digital assets. It is recognized for its active futures market and innovative trading features.

ExchangeChange in Bitcoin Open Interest (30 days)Market ShareBinance-13%35%Bybit+10%Not specifiedOther Major ExchangesSteeper declinesNot specifiedOpen interest and market structurePrevious Bitcoin cycles have typically seen a rapid rebound in open interest and leverage soon after major price corrections, as traders return to the market to chase price action. Yet, the current cycle is notable for its low leverage, with both spot prices and open interest falling by roughly 50% since October’s highs.

Markus Thielen, a respected crypto analyst, presented a recent chart highlighting these trends. The chart showed open interest decreasing in line with price, while the funding rate, which influences the cost of holding leveraged positions, swung sharply from -12.6% to +7.1% during the volatility.

If leverage remains at these subdued levels, future Bitcoin price movements could be driven more by spot market demand than by speculative activity in futures, potentially altering the market’s recovery pattern compared to previous cycles.

Derivatives reset after record highsThe sharp reset in Bitcoin futures open interest—from $42 billion in October 2025 to $21 billion—signals a significant pullback in market positioning. This reduction reflects a more measured stance among traders, and may reduce the risk of sudden, widespread liquidations if prices remain volatile.

Traders have shown little desire to rebuild large leveraged positions, keeping Bitcoin open interest at historically low levels despite recent price stabilization.

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.

19h05 ▪ 5 min read ▪ by Lydie M.

Summarize this article with:

Bitcoin is undergoing a silent rotation. Long-term holders distribute part of their supply while a new generation of buyers absorbs BTC around $62,000. The market is not panicking yet. It is digesting a wealth transfer that could prepare the next big move.

In brief Bitcoin sees its supply move from long-term holders to new buyers. The RHODL Ratio signals a compression without major capitulation. The $60,000 area remains decisive for the market’s next steps. Bitcoin: a discreet supply rotation Bitcoin has been stuck between $60,000 and $80,000 for several months. This apparent calm, however, masks a major redistribution. Long-term holders are beginning to transfer part of their supply to new buyers. This movement does not resemble a brutal capitulation.

In 2022, a similar dynamic accompanied the collapse of FTX and the fall of BTC to $15,000. In 2026, the price remains close to $62,000 despite the compression of on-chain indicators. The difference is significant. Coins change hands, but without visible panic. This suggests current buyers consider these levels an acceptable price zone, even a discount compared to the 2025 highs.

The RHODL Ratio from Glassnode compares wealth held by long-term investors to that held by newer participants. At the beginning of July, it reached 6.5, its second highest historical level. The indicator then fell below 6. This drop signals a compression. In other words, the dominance of long-term holders slightly decreases in favor of new entrants.

This kind of movement is often closely monitored. In previous major cycles, a compression of the RHODL Ratio sometimes preceded significant rallies. But context matters. The same data can signal healthy accumulation or risky distribution for bitcoin. Currently, the market seems to hesitate between the two interpretations. Long-term holders sell part of their stock. New buyers absorb. The price, meanwhile, refuses to decide.

New buyers test their conviction This new generation of buyers is not entering an euphoric market. They come in while bitcoin has lost about 50% since its peak near $124,000 in October 2025.

Buying in this zone therefore requires a form of conviction. New entrants do not chase a vertical rally. They bet on stabilization, then a possible recovery after a long phase of apathy.

This can strengthen the market if these buyers become patient. But it can also create fragility. If the price breaks clearly below $60,000, some of this new cohort may sell quickly.

Recent holders are often the most sensitive to unrealized losses. Their behavior will therefore determine the strength of the current support. If they hold, the rotation can become a base. If they flee, it can turn into selling pressure.

The Fed remains the risk that can change everything The main danger now comes from the macroeconomic context. Markets still anticipate a possible monetary tightening by the Federal Reserve in the coming months. An interest rate hike would make risky assets less attractive.

For bitcoin, this scenario could trigger the capitulation many investors are still waiting for. A break below the consolidation zone would reignite selling, especially if long positions are too exposed.

But the absence of capitulation after five months of stagnation is also a signal. The market has absorbed the decline without total collapse. Long-term holders distribute, new buyers absorb, and the structure still holds.

The great rotation of bitcoin is therefore not just a transfer of coins. It is a generational change. BTC accumulated during previous cycles progressively pass to buyers who build their own price reference. If this transition happens without violent shock, it could prepare the next phase of the bitcoin cycle. If the Fed tightens its tone, the market will quickly know if this new generation has strong hands.

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Lydie M.

Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.

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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.

Capital Group’s Growth ETF, ticker CGGR, has added roughly $8 million in MicroStrategy shares, pushing its total position to 1.66 million shares valued at $161.39 million. For a fund managing a diversified equity portfolio, that is a meaningful allocation to a single company whose core investment thesis is essentially a leveraged bet on Bitcoin.

MicroStrategy, which now goes by Strategy in some contexts, is one of those stocks that looks like a software company on the surface but behaves like a Bitcoin futures contract in practice. The firm holds over 214,000 BTC on its balance sheet, funded through a combination of equity issuance and convertible notes.

Capital Group is not dabbling here The CGGR purchase is notable, but it is not even the biggest MicroStrategy trade Capital Group has made recently. In April 2026, the firm’s ANCFX fund acquired 4.32 million MSTR shares for $747 million, bringing that fund’s total position to 10.33 million shares worth approximately $1.78 billion.

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Capital Group manages $3.3 trillion in assets across its various strategies. It is one of the oldest and most traditionally minded large asset managers in the US, home to the American Funds family that has been selling mutual funds to retirement savers since the 1930s.

Why MSTR works as an institutional Bitcoin play Most institutional mandates do not allow direct Bitcoin ownership. Pension funds, endowments, and large active equity ETFs operate under rules that restrict them to regulated securities listed on major exchanges.

MSTR solves that problem. It trades on Nasdaq, it reports earnings, it files with the SEC, and owning it feels like owning a stock. Underneath that familiar packaging, though, the company’s value is overwhelmingly driven by its Bitcoin treasury rather than its legacy software business.

Because Strategy funds its Bitcoin purchases with debt and equity raises, its stock price tends to amplify Bitcoin’s moves. For fund managers who believe in Bitcoin’s long-term trajectory, that amplification is a feature, not a bug. This dynamic makes MSTR what traders call a high-beta proxy, a stock that delivers exaggerated exposure to an underlying asset.

What this means for investors watching MSTR Traders positioned in MSTR should watch for further Capital Group 13-F filings, which will show whether the multi-fund accumulation trend continues into the second half of 2026. If ANCFX’s $1.78 billion position grows further, or if additional Capital Group vehicles start appearing in MSTR’s ownership registry, it would suggest that the firm’s internal investment committees are actively recommending the position rather than individual portfolio managers acting independently.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

XRP and Ethereum have recorded their highest levels of investor FOMO in the last five weeks, with crowd sentiment turning bullish despite ongoing price weakness. XRP currently trades around $1.06, while Ethereum remains about 65% below its all-time high from August 2025. Both major tokens saw renewed attention as traders shifted focus back toward large-cap cryptocurrencies.

Bullish sentiment returnsSantiment Intelligence, a leading blockchain analytics firm, observed that fear has receded from the market across the largest cryptocurrencies, including Bitcoin, Ethereum, and XRP. However, the firm noted imbalances in market mood, particularly with XRP showing the most optimistic crowd outlook at the start of the week.

On Monday, Santiment Intelligence measured 3.02 bullish XRP comments for every bearish comment. Ethereum followed with 2.31 bullish for each bearish view, while Bitcoin remained more neutral with a 1.40 ratio.

This rising optimism comes as both XRP and Ethereum enter territory often associated with investor FOMO. Market analysts suggest this can heighten short-term risks, as heightened enthusiasm during periods of price weakness sometimes leads to unexpected reversals.

Santiment Intelligence reported that Bitcoin and Ethereum initially started the day on a stronger note but faded later, moving lower as XRP and ETH entered more speculative sentiment territory. Historically, extremes in crowd sentiment have preceded short-lived price swings in the opposite direction.

Both tokens’ crowd-driven momentum stands in contrast to their short-term price performance, which remains subdued amid broader crypto market volatility.

Mini dictionary: Santiment Intelligence is a blockchain data analytics platform providing on-chain and social metric analysis for digital assets.

AssetBullish/Bearish Comment RatioCurrent Sentiment LevelXRP3.02Strongly BullishEthereum2.31BullishBitcoin1.40NeutralEthereum’s fundamentals under scrutinyDebate around Ethereum’s intrinsic value has resurfaced, with market commentators examining the gap between the platform’s network growth and its price action. Independent analyst TedPillows pointed out that Ethereum’s price is still around 65% below the August 2025 peak despite ongoing improvements in network activity, adoption, and underlying strength.

TedPillows emphasized that Ethereum’s charts and fundamentals are telling different stories, noting sustained growth in usage and adoption while the token’s price remains suppressed.

The disconnect between Ethereum’s utility metrics and its market value has become a focal point for investors. TedPillows explained that although higher activity and broader adoption can build a stronger foundation for long-term appreciation, they do not insulate the asset from short-term market volatility. Traders continue to watch whether sustained bullish sentiment will support ETH prices or increase the risk of another pullback.

XRP holds above supportMarket charts indicate that XRP is consolidating around $1.07 on Bitstamp, near a recent low after a decline from 2025 highs above $3. The token’s broader trend still reflects a pattern of lower highs, highlighting ongoing pressure within the market.

XRP is currently attempting to stabilize within a support range between $1.00 and $1.05. Should prices fall below $1.00, technical analysts foresee increased risk of further declines toward $0.95 or $0.90. For a potential upward shift, XRP needs to secure a daily close above the $1.15–$1.20 region.

Key indicators on the daily chart show the MACD registering a small positive crossover, while the RSI remains below the midpoint at approximately 39.9, suggesting caution prevails until momentum strengthens.

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.

Crypto prices are rising across the board today, even as the head of the Federal Reserve made clear he has no plans to step in and rescue the industry if things go wrong. Bitcoin sits near $64,600 today, rising more than 3%. Ethereum has climbed above $1,875 today, gaining more than 5% over the last day and XRP now trades near $1.10 today, up nearly 3% over the past 24 hours too.

The wider crypto market is also higher, with total market value near $2.22 trillion, up more than 2.5 percent. Even so, the Fear and Greed Index still sits at 33, which means the market remains in a state of fear overall.

What Kevin Warsh actually said

Speaking during testimony before Congress, Federal Reserve Chair Kevin Warsh said the central bank has no interest in stepping in to save crypto if it runs into trouble. Warsh said the Fed wants to avoid being in the bailout business with crypto too.

“We’re not bailing out anybody, including crypto,” he said.He added that the Fed wants to be in a position where it isn’t bailing out anyone at all, crypto included.

He also talked about inflation

Warsh also addressed inflation during the same appearance. He said persistent inflation comes down to choices made through monetary policy, not short term price swings or global uncertainty. He said that if the Fed gets its policy right, the high inflation of the past five years will become a thing of the past.

Why this matters

Warsh has a mixed record on crypto. He has criticized some crypto projects in the past, but he has also said Bitcoin doesn’t make him nervous and has personal investments tied to blockchain projects, which he pledged to sell off after becoming Fed Chair. Today’s comments make clear that even with that personal history, he doesn’t see crypto as something the Fed would step in to protect during a crisis.

Story Ends Here

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Key Highlights Table of Contents

Key HighlightsThree Trading Pairs Go Live on Upbit PlatformPlatform Broadens Distribution Following Brand TransformationKorean Exchange Integration Strengthens Regional PresenceGet 3 Free Stock Ebooks South Korean platform Upbit introduces DRV trading using KRW, BTC, and USDT pairs.

Korean crypto investors gain enhanced access to Derive through Upbit’s new offering.

DRV receives increased retail market exposure via Upbit’s platform addition.

Derive secures prominent South Korean exchange presence through both Upbit and Bithumb platforms.

Platform listing enhances DRV trading depth with combined fiat and digital asset markets.

South Korean cryptocurrency exchange Upbit has announced the commencement of Derive (DRV) token trading on July 14, offering Korean won, Bitcoin, and Tether trading pairs. This strategic listing broadens Upbit’s cryptocurrency portfolio while simultaneously providing DRV with enhanced exposure to one of Asia’s most vibrant digital asset markets. The development continues Upbit’s pattern of expanding token availability following multiple recent exchange additions.

Three Trading Pairs Go Live on Upbit Platform Trading for DRV will commence at 17:00 Korea Standard Time on July 14, with Upbit supporting three distinct trading pairs immediately upon launch. The platform will facilitate trading through Korean won, Bitcoin, and Tether markets right from the opening session. Furthermore, token deposits and withdrawals will function exclusively via the Ethereum blockchain network.

The Korean won trading pair enables local investors to participate directly using fiat currency without requiring preliminary cryptocurrency conversions. Meanwhile, the Bitcoin and Tether options create alternative pathways for traders already holding digital assets. Upbit delivers comprehensive market participation through this trio of trading configurations.

The exchange has implemented temporary protective trading mechanisms for the initial listing period. Following launch, Upbit will restrict specific purchase orders, minimum-priced sale orders, and particular order categories. These protective measures serve to minimize excessive price volatility throughout the early trading stages.

Platform Broadens Distribution Following Brand Transformation The project formerly known as Lyra Finance underwent rebranding to Derive throughout 2024. Concurrently, a token conversion process transformed qualifying LYRA tokens into DRV at an equal exchange rate. Following this transition, the protocol advanced into an expanded operational phase emphasizing derivatives trading capabilities.

January 2025 marked the official launch of DRV as the governance and operational token powering the Derive platform. The ecosystem facilitates blockchain-based options contracts, perpetual futures instruments, and complex trading structures through a non-custodial architecture. Derive maintains its proprietary Ethereum Layer 2 infrastructure constructed using the OP Stack framework.

The system merges blockchain settlement capabilities with off-chain order management to enhance transaction velocity while preserving user custody. Token holders utilize DRV for governance voting, staking mechanisms, liquidity provision rewards, and protocol revenue sharing. The ecosystem has established collaborative relationships with numerous prominent projects including Ethena, EtherFi, Swell, Kraken, OKX, Optimism, and LayerZero.

Korean Exchange Integration Strengthens Regional Presence This Upbit integration arrives after DRV’s initial appearance on Coinbase during May 2026, representing its first significant centralized platform listing. Bithumb simultaneously activated DRV trading against the Korean won on that identical date. These platform additions amplify the token’s prominence throughout South Korea’s premier cryptocurrency exchanges.

Current protocol valuation stands at approximately $116 million in market capitalization. Previously, Derive authorized a strategic issuance of 500 million supplementary DRV tokens, elevating aggregate supply to 1.5 billion units. This allocation funds institutional collaborations, market liquidity operations, ecosystem growth initiatives, and ongoing technical advancement.

The Upbit integration positions DRV before one of Asia’s most substantial retail cryptocurrency ecosystems through combined fiat and digital asset trading capabilities. Upbit maintains its expansion trajectory following numerous token additions throughout 2026. This recent incorporation reinforces Upbit’s market standing while simultaneously delivering DRV enhanced trading depth and expanded accessibility within the South Korean market.

Oliver Dale

Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]

In March 2000, Michael Saylor, now executive chairman of Strategy, saw his fortune drop by more than $6 billion in a single day after MicroStrategy’s shares plunged more than 60%. This event left him at the center of the dot-com crash and became a notable moment in corporate history.

Saylor’s Transformation and Strategy’s Bitcoin BetStrategy, formerly MicroStrategy, is a US-based software and business intelligence firm known for holding the largest Bitcoin reserve among publicly traded companies, with 843,775 BTC. The company became an industry model when it adopted Bitcoin as its main treasury asset in 2020, inspiring similar moves by other listed firms.

Saylor described fiat cash reserves as a “melting ice cube” and initiated Strategy’s first $250 million Bitcoin purchase on August 11, 2020. At that time, public companies rarely held Bitcoin, and Saylor’s approach was widely regarded as a significant risk rather than conventional financial strategy.

Despite doubts, Bitcoin’s rising price fueled Strategy’s market value, positioning the company as a de facto proxy for Bitcoin exposure on Wall Street. As a result, its Bitcoin holdings today are valued at more than $54 billion.

Shift in Strategy and Market ReactionsOn June 29, Strategy revealed a new capital structure allowing it to sell Bitcoin to fund dividends on preferred stock, increase its cash reserves, and repurchase securities. This marked a notable departure from its previous stance of exclusively accumulating BTC. Days later, the company sold 3,588 BTC—the largest sale since designating Bitcoin as its principal reserve asset.

This move drew concern among investors who for years had believed that Strategy would not sell its holdings. Supporters characterize the change as the natural evolution of a multinational enterprise with a sizable digital treasury, while critics highlight growing risks due to mounting obligations and reliance on external financing.

Strategy’s willingness to sell Bitcoin is less a departure from accumulation than a practical reality of managing a complex corporate balance sheet, according to Drew Forman, senior vice president and head of strategy at Talos. He sees it as “a pragmatic evolution of a more complex treasury strategy.”

After the dot-com era, Saylor spent nearly two decades out of the limelight until reemerging with Strategy’s Bitcoin-focused approach. The company’s financial reporting standards are seen as stricter now compared to the accounting scandal that led to a settlement with the US Securities and Exchange Commission (SEC) in 2000.

Currently, Saylor leads Strategy as it manages convertible debt and perpetual preferred stock balances. As of late May 2026, Strategy held $6.7 billion in convertible notes and $15.5 billion in preferred stock, much of it raised to buy additional Bitcoin.

Mini dictionary: Preferred stock – A class of ownership in a corporation with a fixed dividend that has priority over common stock dividends but usually does not confer voting rights.

AssetAmount heldOutstanding (May 2026)Bitcoin843,775 BTC$54 billion (approximate)Convertible notesN/A$6.7 billionPreferred stockN/A$15.5 billionCritics and Contrasting ViewsSome analysts argue that Strategy’s model only remains stable if Bitcoin continues to appreciate and investors keep supplying new capital. They caution that, under prolonged market downturns, reliance on debt and equity issuance could create a “death spiral.”

Aswath Damodaran, a finance professor at NYU Stern, questioned Saylor’s aggressive approach to risk and highlighted the lack of fundamental earnings supporting Strategy’s valuation. David Trainer, CEO of investment research firm New Constructs, believes that although the company’s mechanics differ from its dot-com-era collapse, the underlying risk persists due to Strategy’s structure as a highly leveraged proxy for a volatile asset.

Trainer warned that if the investor premium for holding exposure through Strategy disappears, the company’s advantages could vanish, forcing it to sell Bitcoin, seek costlier financing, or halt expansion.

While doubts linger about the sustainability of this financial model, Strategy’s impact on corporate treasury management is evident. Many companies have followed its lead, treating Bitcoin as an institutional asset that requires active governance and risk management.

The future of Strategy hinges on whether its capital structure can withstand future market turbulence, rather than the outcome of the next bullish run in digital assets.

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.

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

TL;DR

SBI Digital Finance and Doppler Finance are developing regulated XRP lending infrastructure for Japanese funds and market makers, allowing institutions to use XRP as collateral and unlock liquidity.SHIB's average exchange deposit size increased 76.26% to 969.01 million tokens, but negative netflows and declining reserves indicate that the market is not experiencing a broad panic sell-off.Wintermute identifies cooler US inflation and sustained crypto ETF inflows as Bitcoin's two main recovery catalysts, with a move above $67,250 requiring several consecutive sessions of institutional demand.Bitcoin is testing resistance near $64,000–$64,500, while Robinhood Chain growth, rising institutional BTC adoption, and preparations for the digital euro strengthen the broader crypto market outlook.How SBI and Doppler will put XRP to work for Japanese banksFinancial conglomerate SBI Holdings has divided infrastructure roles between different blockchains as part of its Asian strategy. While the market discusses its recent agreement with the Solana Foundation, SBI Digital Finance is developing a lending platform designed to bring long-term capital into XRP.

The initiative's partner is digital markets provider Doppler Finance. The companies are creating regulated B2B infrastructure in Japan for lending and collateral management.

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Doppler Finance X SBI Digital Finance

Doppler Finance and SBI Digital Finance Announce Strategic Partnership to Expand Institutional XRP Finance in Japan

The partnership brings together Doppler’s digital asset infrastructure and SBI Digital Finance’s institutional market… pic.twitter.com/pTSyxkXgYM

— Doppler Finance (@doppler_fi) July 14, 2026 According to Doppler Finance, the launch is aimed at Japanese funds and market makers, with the goal of turning passive XRP reserves into productive working capital. In this context, institutional participants will be able to legally use the token as collateral, borrow liquidity against it, and manage risks under local compliance requirements.

This move confirms SBI's multichain approach, under which the conglomerate has clearly separated its financial business lines. While the partnership with the Solana Foundation is focused on the tokenization of real-world assets such as corporate bonds, real estate, and retail stablecoins, the agreement with Doppler Finance addresses demand from major players for B2B lending backed by XRP.

Why a 76% surge in SHIB inflows did not turn into a panic sell-offA morning on-chain audit delivered a surprise for meme coin enthusiasts, as the average size of a single SHIB deposit to exchanges rose sharply by 76.26% over the past few days, reaching 969.01 million tokens.

In plain English, large holders have started moving more Shiba Inu tokens onto trading platforms. CryptoQuant's chart shows that this inflow has already put pressure on order books. Over the past week, the token's price has moved lower and is now hovering near a local bottom at $0.0000041.

SHIBA INU: Exchange Inflow (Mean, MA7) - All Exchanges (Deprecated), Source: CryptoQuantHowever, it is too early to write off the asset, as the details of the daily statistics tell a different story. Looking beyond the average deposit size and focusing on total activity over the past 24 hours changes the picture:

Exchange netflow: Fell deep into negative territory at -186.29 billion SHIB.Total exchange reserves: Declined to 86.61 trillion SHIB, losing around 2.12% in dollar terms.Top-10 wallet activity: Whales withdrew 5.26 billion SHIB during the day while depositing only 3.85 billion.Yes, several large players created local selling pressure and pushed the price toward psychological support. Globally, however, tokens continue to move into cold wallets, meaning the market is not experiencing mass panic or a complete sell-off.

SHIB is now in a holding pattern. If the $0.0000041 level holds, the morning selling pressure could turn into an evening rebound.

Major market maker Wintermute names two catalysts for a Bitcoin price recoveryWhile external markets are being shaken by commodity-related disruptions, with Brent crude climbing toward $79 and US Treasury yields breaking above 4.57%, Wintermute OTC analysts say Bitcoin is showing remarkable resilience.

In their latest report, they stated that weak hands have already been flushed out and there is no one left to panic. The market absorbed even Strategy's massive sale of 3,588 BTC, worth around $216 million, without major disruption. Just a few months ago, a sale of this size could have triggered a sharp decline.

Bitcoin price action on a daily tim frame in context of recent CPI report, Source: TradingViewSellers are exhausted, Wintermute concluded, and Bitcoin's price recovery now depends on two factors:

Cooling inflation data. Wintermute analysts emphasized that the latest inflation figures would determine everything and that the market urgently needed a cooler CPI reading to reduce fears of another Federal Reserve rate increase. According to the latest data, US inflation fell to 3.5%, while the monthly reading dropped by 0.4% — the steepest decline since May 2020.Consistent ETF inflows. Last week finally ended a severe eight-week streak of outflows, with approximately $282 million entering crypto ETFs. However, Wintermute warned that one positive week is not enough. Now that the CPI barrier has been removed, breaking the trend and confidently moving above $67,250 will require several consecutive sessions of positive ETF flows.As a final potential catalyst, analysts continue to focus on the CLARITY Act, which is expected to receive a vote in the US House of Representatives later this month.

Wintermute analysts concluded that Bitcoin has demonstrated its ability to rise on internal market volume despite unfavorable external conditions. The options market, where traders had continued to hedge and buy puts ahead of the inflation data, has now received a powerful bullish signal. The main catalysts are in place, and the market is waiting for confirmation from ETF flows.

Crypto market outlook: Bitcoin challenges $64,000 resistance amid CPI cooldownBitcoin is testing the upper boundary of its local range near $64,000 following a slowdown in US inflation, with CPI falling to 3.5%. The current chart structure points to an attempt to form a local bottom, supported by the launch of the first banking adoption index and easing macroeconomic pressure.

Key developments:

BTC technical outlook: The daily BTC/USD chart shows Bitcoin trading at $63,698, up 2.32%. The price remains trapped in a consolidation range between support at $58,000–$59,250 and resistance at $64,500, while still trading below a descending trend line. The RSI is at a neutral reading of 51.88, confirming continued uncertainty.Launch of the Bitcoin Banking Index: Strategy Inc. has launched an index measuring BTC adoption among the world's 25 largest banks. The current adoption level stands at 32%. Fidelity leads with 71%, followed by BNY Mellon at 46%, Goldman Sachs at 45%, and JPMorgan at 43%.Robinhood Chain activity: The new blockchain reached $800 million in daily DEX trading volume within two weeks. Its main driver is the CASHCAT meme coin, which has a market capitalization of $150–$200 million and gained 19.5% following its listing on Binance Wallet.Positive macroeconomic backdrop: US CPI for June fell to 3.5%, compared with a forecast of 3.8% and a previous reading of 4.2%. Core CPI declined to 2.6%, below the 2.8% forecast. This reduces pressure on the Federal Reserve and opens the door to renewed liquidity inflows into the crypto market.Preparations for the digital euro: The European Central Bank has selected 36 providers, including Stripe and Nexi, for a 12-month CBDC pilot. Testing is scheduled to begin in the second half of 2027, while the full launch of the currency is planned for 2029. You Might Also Like

U.S. Government Moves $297M in Crypto to Coinbase: Sale or Custody?

CleanSpark’s US pre-market shares rise over 16% after securing a $6.6 billion, 20-year data center lease.

CleanSpark has signed a $6.6 billion, 20-year data center lease agreement with an unnamed global technology company, covering its data center campus in Sandersville, Georgia, U.S. The tech firm also secured exclusive rights to use CleanSpark’s Texas data center portfolio, with a maximum capacity of 885 megawatts (MW). Per market data from BIT (bit.com), CleanSpark (CLSK) shares jumped over 24% in Tuesday’s pre-market trading on the news, and were last up 16.42%.

3 minutes ago

IBM's pre-market decline in US stocks widened to over 20%

According to market data from BIT (bit.com), IBM’s pre-market trading on US equities has seen its decline widen to over 20%, as the company’s preliminary Q2 revenue and net profit missed market expectations.

3 minutes ago

Goldman Sachs' US shares rose more than 2% in pre-market trading, with its Q2 equity sales and trading revenue far exceeding expectations.

According to market data from BIT (bit.com), Goldman Sachs (GS.N) rose over 2% in pre-market US trading. The firm’s second-quarter stock sales and trading revenue stood at $7.42 billion, against an expected $5.02 billion; its second-quarter fixed income, currency and commodities (FICC) revenue reached $4.59 billion, up 32% year-over-year.

3 minutes ago

JPMorgan Chase posts a record quarterly profit, with stock trading revenue hitting $6 billion.

JPMorgan Chase has posted its highest quarterly profit ever, driven by stock trading revenue that far exceeded analyst expectations and a $4.6 billion gain from its long-held Visa Inc. stake. According to the bank’s Tuesday statement, second-quarter stock trading revenue jumped 86% year-over-year to $6.03 billion, topping even the highest analyst forecast. This pushed total trading revenue to $12.1 billion, surpassing the all-time high set in the first quarter of this year.

3 minutes ago

IBM drops over 12% in pre-market US trading, preliminary second fiscal quarter revenue misses expectations.

According to BIT (bit.com) market data, IBM’s US stock dropped over 12% in pre-market trading. The company’s preliminary second-quarter revenue reached $17.2 billion, against market expectations of $17.86 billion.

3 minutes ago

Binance: Alpha Blind Box Airdrop Now Open for Claiming, Points Threshold Set at 251 Points

According to official announcements, Binance Alpha’s mystery box airdrop is now live. The airdrop pool includes tokens from two projects: Orochi Network (ON) and Metaplex (MPLX). Users holding at least 251 Binance Alpha points can claim one token airdrop on the Alpha event page. After claiming, users will be assigned to different reward tiers and receive one of the following rewards: 315, 395, or 1125 ON tokens; 1038, 1298, or 3705 MPLX tokens. Rewards are distributed on a first-come, first-served basis. If rewards are not fully distributed, the point threshold will automatically decrease by 5 points every 5 minutes. Claiming the airdrop consumes 15 Binance Alpha points. Users must confirm their claim on the Alpha event page within 24 hours; otherwise, the airdrop will be deemed forfeited.

3 minutes ago

Bitcoin has rebounded toward the $64,000 mark before dropping to 62K. However, blockchain analytics firm Glassnode isn’t convinced and says the recovery is not as strong as it looks. While institutional interest is slowly returning, weak spot demand, lower trading activity, and cautious derivatives positioning suggest the rally is still missing broad market conviction.

The Rally Lacks Strong Buying SupportAccording to Glassnode, several on-chain indicators show that Bitcoin’s recent recovery has been driven by thin liquidity. This is occurring rather than aggressive buying.

bitcoin:native recovered toward $64K, but weak spot participation and subdued on-chain activity suggest the move lacks broad conviction. Institutions are returning, while options remain defensive.

Read this week’s Market Pulse👇https://t.co/5XDjtDSiHl pic.twitter.com/EVlTuoUHYH

— glassnode (@glassnode) July 13, 2026 Some of the key metrics include:

Bitcoin’s 14-day RSI jumped from 50.8 to 66.9, pushing the asset close to overbought territory.Spot trading volume dropped 21.5%, falling from $5.2 billion to $4.1 billion over the past week.Spot Cumulative Volume Delta (CVD) flipped from +$17.2 million to -$58.8 million. This means aggressive sellers are now outnumbering aggressive buyers even as prices rise.Perpetual futures CVD also plunged from $457.5 million to $83.9 million, showing buyers are gradually losing momentum.Glassnode summed up the situation by saying the advance has been driven by “relatively thin liquidity rather than broad-based buying conviction.”

Retail Traders Stay CautiousRetail sentiment has also started cooling as Bitcoin struggles to stay above $63,000.

The broader crypto market slipped about 1.1%, bringing the total market capitalization to roughly $2.24 trillion. More than $250 million worth of leveraged crypto positions were liquidated over the past 24 hours. Nearly $200 million of that came from long positions.

Meanwhile, futures open interest remained almost unchanged, slipping only slightly from $31.4 billion to $31.3 billion. This suggests traders are holding positions but without strong confidence. Options open interest increased modestly to $28.1 billion. However, it remains below its historical statistical range.

Altcoins Show Mixed PerformanceMajor altcoins delivered mixed results during the market pullback.

XRP posted the biggest decline among large-cap cryptocurrencies, falling around 1.5% as retail sentiment shifted from extremely bullish to bearish.Ethereum, Solana, BNB, and Dogecoin all declined by less than 1%.Ethereum traded near $1,782, with traders closely watching $1,700 as key support and $1,840-$1,850 as the next resistance zone.Crypto analyst Ted Pillow said that as long as Ethereum stays above $1,750, the path toward $2,000 remains open.

What Comes Next?Glassnode says the next few trading sessions will determine whether buying activity strengthens enough to support the rally.

On-chain analyst Ali Martinez added that whale accumulation has continued since June, with Bitcoin’s Accumulation Trend Score remaining close to 1. However, he warned that after losing the $63,000 mid-range level, Bitcoin could retest support near $61,700. It may do this before attempting another move higher.

Overall, this week’s CPI and PPI inflation data, possible Strategy (MSTR) Bitcoin accumulation updates, and renewed discussions around the CLARITY Act all could influence market direction.

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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Read the Next News

Economist Peter Schiff said on Monday that he regrets not buying Bitcoin (CRYPTO: BTC) when he first learned about the apex cryptocurrency.

The Eternal Bitcoin ‘Regret’In an X post, Schiff contrasted early Bitcoin FOMO and the strategic error of holding the asset for too long.

“Many people, myself included, regret not buying Bitcoin when they first learned about it,” he said. “Soon, more people will regret not selling Bitcoin above $60,000 when they had the chance.”

Will Schiff Buy Bitcoin At $20,000?This isn’t the first time Schiff has conceded he missed out on Bitcoin. In an interview in March 2024, he wished he had bought the world’s largest cryptocurrency back in 2010, given the profit potential. 

So does that mean he’d ape into Bitcoin at the first opportunity?

“Not a chance,” Schiff clarified, adding that he won’t even buy even if Bitcoin crashed to $20,000.

A section of Bitcoin enthusiasts has accused him of secretly holding the cryptocurrency, a claim he has promptly denied. 

Bitcoin Here To Stay?Schiff’s remarks reflected his longstanding bearish view that Bitcoin is overvalued and headed for major declines. In fact, he leads the pack in Bitcoin obituaries, having declared the asset ‘dead’ as many as 23 times.

Schiff aggressively promotes gold as the ultimate safe-haven, while deriding Bitcoin as a worthless asset.

While Bitcoin has indeed lagged behind gold over the past year, its cumulative performance over a longer horizon is substantially higher.

Price Action: At the time of writing, BTC was exchanging hands at $62,521.08, down 0.27% in the last 24 hours, according to data from Benzinga Pro.

Photo: Hi my name is Jacco on Shutterstock.com

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© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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COINDESK: Live updates: Bitcoin holds $62,600 as the Iran conflict reignites and CPI looms

Key Highlights Table of Contents

Key HighlightsSemiconductor Sector Reels Following Korean Market TurmoilDigital Assets Retreat as Federal Reserve Tightening Expectations SurgeGet 3 Free Stock Ebooks Semiconductor stocks plummeted 4.8%, sending the Nasdaq down 1.5% in Monday’s trading session South Korea’s KOSPI index crashed nearly 9%, triggering a ripple effect across U.S. chip manufacturers SK Hynix’s American Depositary Receipt debut stumbled, declining more than 9% in its inaugural U.S. trading session Bitcoin tumbled over 2% to approximately $62,380 as market participants increased July Fed rate hike probability to 50% Escalating oil costs and heightened U.S.-Iran geopolitical tensions are fueling renewed inflation anxieties before Tuesday’s CPI data Major U.S. stock indices experienced significant losses on Monday as semiconductor equities led a broad technology sector retreat. Digital currencies also faced downward pressure as market participants recalibrated their Federal Reserve policy outlook.

The tech-heavy Nasdaq Composite declined 1.5% by the closing bell. The broader S&P 500 shed 0.8%, while the Dow Jones Industrial Average retreated 138 points, translating to a 0.3% loss. The Philadelphia Semiconductor Index bore the brunt of selling pressure, plummeting 4.8%.

E-Mini S&P 500 Sep 26 (ES=F) Excluding technology equities from the equation, however, reveals a considerably more stable market environment. The ProShares S&P 500 Ex-Technology ETF concluded trading essentially unchanged.

Semiconductor Sector Reels Following Korean Market Turmoil The sharp decline in chip stocks followed an exceptionally volatile trading day in Asian markets. South Korea’s KOSPI benchmark index closed Monday’s session down nearly 9%, transmitting shock waves throughout international financial markets.

SK Hynix, the prominent memory chip manufacturer, commenced U.S. trading on Monday through American Depositary Receipts. The debut proved inauspicious, with shares declining over 9%, echoing the company’s substantial intraday collapse on the Seoul exchange.

Memory semiconductor producers had ranked among 2026’s top-performing equities. Monday’s trading session abruptly erased a portion of those impressive gains.

Other chip-sector companies experienced sympathetic declines. The industry-wide downturn underscored the depth of interconnection between American investors and international semiconductor supply networks.

Digital Assets Retreat as Federal Reserve Tightening Expectations Surge Bitcoin declined more than 2% over a 24-hour period, trading around $62,380. Ether, XRP, and additional prominent digital tokens recorded comparable losses.

Bitcoin (BTC) Price The cryptocurrency selloff materialized as money market instruments began pricing approximately a 50% probability of a Federal Reserve interest rate increase in July. This figure represented a dramatic shift from the roughly 10% probability observed just days earlier.

The adjustment followed public remarks from Federal Reserve Governor Christopher Waller, who indicated policymakers might need to implement rate increases to contain inflationary pressures.

The two-year U.S. Treasury yield advanced to 4.29%, reaching its highest level since early in the previous year. This segment of the yield curve typically tracks closely with near-term monetary policy expectations.

Accelerating petroleum prices are compounding inflation concerns. West Texas Intermediate crude has surged to nearly $80 per barrel from $67 at the month’s beginning.

The oil price spike stems from intensifying U.S.-Iran geopolitical friction. President Trump reestablished a naval blockade targeting Iranian vessels in the Strait of Hormuz and instituted a 20% transit fee on additional cargo traversing the strategic waterway.

Market participants are now directing attention toward Tuesday’s Consumer Price Index release. Economic forecasters anticipate headline CPI will register below 4% on an annual basis, potentially marking the first simultaneous decline in both headline and core inflation measurements since January.

Federal Reserve Chair Kevin Warsh is additionally scheduled to deliver testimony before Congress. Financial markets will be scrutinizing his statements for any indications regarding the monetary policy trajectory.

Analysts at ING observed that Warsh maintains flexibility to keep rates unchanged despite external pressures, and that any implemented rate increase could subsequently be reversed through more substantial rate reductions.

Iran’s parliament has passed a bill claiming sovereign control over the Strait of Hormuz, the narrow waterway that handles roughly 20% of global oil trade. The legislation bans “hostile ships” from passage and codifies a toll system that accepts payment in yuan, Bitcoin, and stablecoins.

The crisis timeline The roots of this legislation trace back to late February 2026, when Iran imposed a blockade on the strait. That move kicked off what’s now being called the 2026 Strait of Hormuz crisis. A ceasefire in June offered a brief reprieve. By early July, Iran’s Revolutionary Guard Corps resumed aggressive operations in the waterway, targeting commercial vessels on what Tehran deemed “unapproved” routes.

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On July 13, Iranian forces attacked commercial tankers, including UAE-owned vessels, killing at least one crew member.

During ceasefire periods reported in April 2026, Iran had already been extracting transit tolls of approximately $1 per barrel from passing vessels, accepted in yuan, Bitcoin, or stablecoins.

Why crypto is the real story here Iran’s adoption of Bitcoin and stablecoins for sovereign transactions is unprecedented. Traditional banking channels are walled off by sanctions. By accepting digital currencies for maritime tolls, Tehran has built a sanctions-evasion mechanism into its sovereignty claims. Tether has historically frozen wallets associated with sanctioned entities, but the scale and state-backed nature of this use case is entirely different from previous incidents.

Competing tolls, competing claims Former President Trump has proposed his own 20% toll on vessels transiting the strait, coinciding with re-imposed blockades as of July 2026. The competing toll proposals from Washington and Tehran over the same body of water underscore how contested this waterway has become.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Bitcoin (BTC) fell further into Monday’s Wall Street open as markets reacted to the US-Iran escalation.

Key points:

Bitcoin falls toward $62,000 as losses intensify on nerves over the US-Iran war.President Donald Trump says that the US should "run" the Strait of Hormuz as a tug-of-war with Iran continues.BTC price action is described as "very weak", but a $70,000 rebound prediction remains in place.Oil rises amid "aggressive" BTC shortingData from TradingView showed BTC/USD edging closer to $62,000 amid what a trader described as “massive” short trading.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

US stocks were broadly in the red at the open, with the Nasdaq Composite Index down 1% at the time of writing.

Speaking to Fox on the day, US President Donald Trump said that the US would be taking over the Strait of Hormuz, a key international oil route, which Iran closed at the weekend.

“We're going to keep the strait, and we'll probably run it. ‌We'll become the guardian of the strait. Maybe we'll call it the ‘guardian angel’ of the strait. And we should be reimbursed for that,” he said.

Oil prices stayed higher, with WTI crude circling $75 per barrel.

CFDs on US WTI crude oil one-hour chart. Source: Cointelegraph/TradingView

Bitcoin saw pressure, with sellers firmly in control after an initial drop following the weekly close.

“Massive shorting into this pre NY-open drop. Price is now sitting directly at mVWAP, a key level bulls need to defend!” analytics account JDK Analysis wrote in a post on X.

The post referred to the volume-weighted average price across exchanges, warning that $60,000 could reappear.

“With spot also selling, this still looks very weak. But if New York brings real spot demand and mVWAP holds, a bounce could trap a large number of sellers,” JDK added.

BTC/USD chart with order-book data. Source: JDK Analysis/X

Others also noticed the downward trend, with commentator Exitpump earlier reporting a “crazy amount of aggressive shorting” while open interest continued to rise.

Bitcoin upside targets still see $70,000 returningThose making the case for a rebound on the day included trader Roman, who retained his new bullish bias.

In an X post, Roman highlighted several price metrics, including the relative strength index (RSI) and volume, showing downside exhaustion.

“I believe a move higher is coming it all just comes down to formation and how we get there,” he wrote. 

“Lots of HTF & LTF indications for 70-75k area + exchange data is showing that more spot is being bought than sold. It’s a matter of when not if.”BTC/USD one-day chart. Source: Roman/X

Earlier, Cointelegraph reported on various expectations of continued BTC price upside this month before bearish continuation, ultimately ending in a Q3 macro bottom.

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.

9h30 ▪ 6 min read ▪ by Luc Jose A.

Summarize this article with:

On July 13, the United States transferred nearly 4,000 bitcoins (approximately 250 million dollars) to Coinbase Prime. While overall liquidity remains extremely sensitive to movements by state whales, this major on-chain activity, stemming from judicial seizures, acts as a powerful catalyst of volatility. Is this a simple logistical reorganization or the beginnings of a massive sale?

In brief The US government transferred 3,941 BTC (around 250 million dollars) to Coinbase Prime on July 13, 2026. These Bitcoins originate from historic judicial seizures, mainly linked to the Ryan Farace drug case and the fallen BTC-e platform. This transfer finalizes a confiscation procedure initiated in January 2024, setting the stage for an official liquidation. The operation is part of the custody partnership signed in July 2024 between the US Marshals Service and Coinbase Prime. Historic seizures Blockchain records logged on Monday the transfer of 3,941 bitcoins, representing a value of about 250 million dollars, to the institutional brokerage infrastructure Coinbase Prime, while the crypto price is still below $64,000. According to data aggregated by the on-chain analytics platform Arkham Intelligence, this consolidation activity was split into several specific flows :

The Ryan Farace envelope : a major transfer of about 2,875 BTC identified under the label “Ryan Farace Seized Funds”. This amount corresponds to the historically seized volume by federal agents in 2021 during the investigation against this trafficker convicted of money laundering ; The BTC-e share : a batch of 926 BTC labeled “BTC-e Seized Funds”, originating from cryptocurrencies seized by US authorities during the shutdown of this illicit exchange platform in 2017 ; The complementary transaction : a final flow of about 140 BTC transferred directly to the broker’s accounts to complete the day’s overall movement. The origin of these funds reveals the purely judicial dimension of the management of these assets by the US Department of Justice. The 2,875 BTC from the Farace case represent almost all of the 2,874.90419597 BTC confiscated during the original investigation, with an additional related seizure of 58.742155166 BTC.

As for the envelope from BTC-e, it recalls the ramifications of the closure of this platform which, according to the federal prosecutor, handled more than 9 billion dollars in illicit transactions related to ransomware, hacks, and various traffics. One of its main managers, Alexander Vinnik, had pleaded guilty to conspiracy to commit money laundering in 2024. These on-chain movements therefore do not reflect an active monetary policy, but the methodical execution of final judicial decisions.

Between institutional logistics and liquidation : the pivotal role of Coinbase Prime The analysis of these transfers must be based on the contractual framework uniting federal agencies with their private providers, thus ruling out the idea of a wild and immediate sale on the market. In July 2024, the US Marshals Service (USMS), the agency responsible for custody and alienation of assets seized by justice, officially selected Coinbase Prime to provide “advanced custody and trading services” for its major cryptocurrencies. From then on, the physical transfer of bitcoins to Coinbase Prime constitutes a standard logistical step integrated into this management mandate.

Moreover, the US administration had already laid the legal groundwork by publishing, as early as January 2024, a formal notice of confiscation expressing its “intent to dispose” of a total of 2,933.64 BTC from the Farace case. This notice opened the legal period during which third parties could claim ownership rights, confirming that the fund transfer to the broker constitutes the technical completion of a long-started administrative process.

Such an operational reorganization was also accompanied by transfers of stablecoins and other leading assets, notably an envelope of 30,007 ethers labeled “Brian Krewson Confiscated Funds”. Procedural documents reveal that Brian Krewson was not subject to any direct criminal prosecution, but a civil lawsuit by the Department of Justice targeted the confiscation of these ethers.

According to the complaint, these assets were acquired for only 9,000 dollars by Christopher Castelluzzo and Luke Atwell using revenues from illicit activities, with Krewson simply ensuring technical management of the wallets during his associates’ incarceration. The grouping of these various seizures under the aegis of Coinbase Prime demonstrates a clear intention of logistical centralization by federal agencies, which now rely on a single infrastructure to manage a global portfolio estimated at over 328,225 BTC, a public treasury valued at more than 20 billion dollars.

Outlook for the Bitcoin Market In the long term, the arrival of these massive volumes on an institutional brokerage platform raises the question of the impact on the overall liquidity of the bitcoin market.

Although the presence of these funds at Coinbase Prime does not prove that a sale has already been executed, it provides authorities with the necessary flexibility to carry out over-the-counter (OTC) liquidations, thus limiting the direct impact on public order books.

For observers and professionals of decentralized finance, these movements reflect a professionalization of the management of state seizures, which moves away from old public auctions to adopt market finance standards. Caution remains necessary, because while these progressive sales reduce the risk of a sudden price drop, they maintain latent selling pressure that market makers will have to absorb throughout the coming quarters.

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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.

The much awaited U.S. CPI report will be released today, and crypto traders are preparing for a volatile session. With the crypto market already down 0.3% to $2.16 trillion and Bitcoin trading near $62,400, today’s inflation data could decide whether the next move is a rally or another sell off.

June CPI Report According to Polymarket, June CPI is expected to increase 0.2% from the previous month, lower than the 0.5% rise recorded in May. On a yearly basis, inflation is expected to ease to 3.8%, down from 4.2% in the previous reading.

Investors will also closely watch the Core CPI, which excludes food and energy prices, as it is one of the Federal Reserve’s key inflation measures.

If inflation comes in lower than expected, it could ease pressure on the Fed to raise interest rates again. That would likely improve investor confidence and support Bitcoin and the broader crypto market. 

However, a higher-than-expected reading could increase fears of another rate hike and put pressure on crypto prices.

Fed Officials Are Watching Inflation CloselyFederal Reserve Governor Christopher Waller recently warned that another strong inflation report would be taken seriously.

“If I get another higher one, I’m going to treat that as a signal, not noise.” 

He also stressed that inflation has remained above the Fed’s 2% target for several months and cannot simply be ignored.

Following his comments, the CME FedWatch Tool now shows a 51.6% probability of another Fed rate hike in September, adding more uncertainty to financial markets.

Crypto Market Awaits a Volatile SessionMajor cryptocurrencies have dropped ahead of today’s report. As of now, Bitcoin is trading near $62,400, while Ethereum, XRP, and several other large-cap tokens have also posted losses over the past 24 hours.

Apart from inflation, investors are also keeping an eye on rising U.S.-Iran tensions, which could keep inflation elevated and influence the Federal Reserve’s policy outlook.

Story Ends Here

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Read the Next News

Bulls have been waiting for Ethereum to deliver a bullish technical signal for a long time. ETH has successfully broken out of a declining trendline that had capped every attempt at recovery since May after spending weeks stuck beneath short-term resistance. The move is one of the most significant technical advancements Ethereum has seen in recent months, even though it is not yet sufficient to signal the beginning of a full-scale bull market.

 In the vicinity of the $1,750–$1,800 range, Ethereum was able to break above the declining resistance line that connected a string of lower highs. This is noteworthy because, ever since the rejection from the $2,400 area earlier in the year, the pattern has been strengthening bearish momentum. Ethereum is currently holding above its 50-day EMA at $1,740, and price action is stabilizing around $1,790. 

ETH/USDT Chart by TradingViewAdditionally, the 100-day EMA at $1,755 has been reclaimed, forming a supportive cluster below current price levels. The market structure observed throughout June, when ETH remained in the downtrend, is noticeably different from this. The improving outlook is reinforced by momentum indicators.

HOT Stories

The RSI has risen above 53, indicating increasing buying pressure and firmly entering bullish territory. In contrast to earlier attempts at a rebound, the current move has not caused the RSI to enter an overbought state, allowing for further upside if buyers continue to be active. The next challenge is just around the corner. 

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The psychologically significant $1,800-$1,850 range, which has frequently served as resistance over the past few months, is drawing closer to Ethereum. The bullish case would be strengthened by a clear move above that area, which might also lead to an advance toward the 200-day EMA at $2,220. It is still important to keep an eye on volume. 

Although the breakout is technically sound, increased trading activity would provide more evidence that larger market players and institutions, as opposed to just short-term traders, are backing the move. 

There has been no complete reversal of the general trend. Ethereum is still trading beneath the long-term resistance structure set earlier this year and remains far below its 200-day moving average. However, the short-term picture is significantly altered by the successful trendline breakout. 

Confidence in XRPXRP's wider recovery attempt might not be finished despite recent weakness and another rejection close to local resistance. Even though the asset is still stuck below important moving averages and is trading close to the $1.07 mark, there are a number of indicators suggesting that the market has not completely given up on the possibility of a bigger recovery. The chart doesn't appear very confident at first glance. 

At $1.11 for the 50-day EMA, $1.15 for the 100-day EMA, and $1.26 for the 200-day EMA, XRP is still below these benchmarks. Such a configuration usually indicates that sellers are still in control of the longer-term trend and reflects a bearish market structure. However, the moving averages alone don't fully capture the complexity of the current situation. 

XRP/USDT Chart by TradingViewThe psychologically significant $1.00 area has been consistently defended by XRP since the sharp drop in June. Bears' attempts to force a clear breakdown have all been thwarted by buying activity, resulting in a comparatively stable support zone. Despite weeks of pressure, XRP has avoided hitting new lows, which suggests that selling momentum is gradually waning. 

A fascinating tale is also told by volume. Selling volume has been continuously dropping, but buying activity is still insufficient to cause a breakout. This frequently occurs during accumulation phases, when market participants are less inclined to sell at low prices. The RSI is currently in the neutral 40-45 range. 

This indicates that XRP is far from overheated and has potential for a recovery move if overall market conditions improve, even though it does not indicate bullish momentum. Reclaiming the 50-day EMA remains the bulls' primary goal. A successful move above $1.11 would probably draw in more momentum traders and open the door to the resistance zone between $1.15 and $1.20. 

After that, the 200-day EMA at around $1.26 emerges as the primary technical obstacle. The current setup is notable because, despite trading below significant resistance levels, XRP is not accelerating downward. Rather, price action has begun a period of consolidation above support. 

Bitcoin makes it back for nowBTC has risen back toward the $63,000-$64,000 range after rising from lows close to $58,000. This puts it directly below a significant resistance cluster that may dictate the market's next big move. The 50-day exponential moving average, which is currently close to $64,600, is the most immediate challenge. 

Over the past few weeks, Bitcoin has tested this level several times but has been unable to produce a clear breakout. Sellers have been drawn in at each rejection, highlighting the significance of this area. Nevertheless, there are a number of reasons why the likelihood of a resistance break is rising. 

First, since the June bottom, Bitcoin has been able to set a string of higher lows. Instead of retreating to the $58,000 support area, buyers have continuously intervened at increasingly higher prices. This behavior frequently indicates growing confidence and accumulation beneath resistance. 

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Second, momentum indicators are improving over time. The daily RSI is approaching the neutral 50 level after recovering from oversold territory. It shows that the bearish momentum that dominated June has significantly decreased, even though it is not yet a fully bullish signal.

The broader market structure also supports a breakout. Bitcoin spent a few weeks consolidating after the sharp drop from the $82,000 area. Before making another directional move, markets usually need to go through these stages of consolidation. The longer Bitcoin stays above important support levels without hitting new lows, the more pressure builds against surrounding resistance. 

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Traders should not underestimate the challenges that lie ahead, however. Even if Bitcoin surpasses the 50-day EMA, there will be more resistance near the 100-day EMA, which is located at $68,600. Above that, the 200-day EMA at approximately $74,700 remains the final line separating the market from a complete trend reversal. 

Volume continues to be an issue. In contrast to the significant selling volume observed during the June crash, recent recovery attempts have involved comparatively low trading activity. During any breakout attempt, bulls would prefer to see a discernible increase in participation. 

For the time being, Bitcoin does not appear to be actively rejected by resistance; instead, it seems to be coiling beneath it. A close above the $64,500–$65,000 range would greatly boost sentiment and might lead to a move toward $68,000. The technical setup indicates that Bitcoin's chances of breaking resistance are improving every day, even though confirmation is still required.

Geopolitical tensions have once again rattled financial markets, but institutional investors are showing signs of returning to crypto, with particular interest in Crypto ETFs as a way to gain exposure. Bitcoin held above $62,500 while Ethereum traded near $1,700 despite fresh uncertainty after U.S. strikes on Iran and Tehran’s decision to close the Strait of Hormuz until further notice. 

The steady price action, along with improving ETF flows, suggests large investors are continuing to build positions rather than exiting the market.

Crypto ETFs End 8-Week Outflow StreakAccording to The Kobeissi Letter, crypto investment products attracted $281.8 million in net inflows last week, ending an eight-week streak of more than $7 billion in outflows.

Bitcoin funds accounted for $197.4 million, while Ethereum investment products added another $84.4 million. Even so, the recovery remains early. Total 12-month ETF inflows now stand at around $1 billion, far below the $10 billion recorded in April and the $12 billion peak seen in October 2025.

The report noted that buyers are beginning to return, but this is “buyers dipping a toe, not a full cycle turn yet.”

BlackRock Continues to Lead Bitcoin DemandInstitutional demand remained heavily concentrated in BlackRock’s iShares Bitcoin Trust (IBIT).

According to Farside Investors, IBIT attracted $291.9 million in fresh capital last week, more than offsetting outflows from Grayscale, ARK 21Shares, and Fidelity’s Bitcoin ETFs.

Bitcoin also held above $62,000 despite oil prices climbing 4–5% following Middle East tensions, highlighting the asset’s resilience during a period of broader macro uncertainty.

XRP, SOL and HYPE ETFs See Fresh InterestInstitutional activity also extended beyond Bitcoin.

According to SoSoValue, XRP ETFs recorded $7.18 million in net inflows. Virginia-based Main Street Group disclosed holdings of 5,261 shares of the Canary XRP ETF, valued at roughly $58,292. Other institutional investors include Larson Financial Group ($1.8 million), Q3 Asset Management ($430,000), Hurley Capital ($135,000), and Flow Traders, which currently holds the largest reported XRP ETF position at $1.93 million.

Meanwhile, Solana ETFs attracted $930,430 in net inflows, while HYPE ETFs added $10.36 million, reflecting growing institutional interest across select altcoins.

Analyst Warns $61K Remains the Key LevelCrypto analyst Michaël van de Poppe said Bitcoin’s overall structure has not changed much, but short-term weakness is becoming more visible.

I don't think much has changed on #Bitcoin, yet.

However, there's clearly a lack of strength, as;
– Yields are going up.
– Oil is going up.
– Nasdaq is going down.

There's also a clear bearish divergence (and bullish divergence) at play.

Matter of question of which one is… pic.twitter.com/BxX4mKhzea

— Michaël van de Poppe (@CryptoMichNL) July 13, 2026 He pointed to rising bond yields, higher oil prices, and a weaker Nasdaq as signs that risk assets remain under pressure. Van de Poppe expects Bitcoin could briefly fall below $61,000 in July to form a triple bottom before recovering.

According to the analyst, the $61,000 level remains the most important support to hold, as losing it could trigger another wave of downside momentum. 

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Read the Next News

The U.S. government transferred nearly $297 million in seized Bitcoin and Ether to Coinbase Prime on Monday, according to blockchain data. 

Summary

U.S. government wallets transferred nearly $297 million in seized Bitcoin and Ether to Coinbase Prime. The Bitcoin movement renewed questions about compliance with Trump’s strategic reserve order banning government sales. Coinbase Prime supports custody and trading, so the transfers do not prove an immediate liquidation. The move renewed questions about how federal agencies plan to handle crypto covered by President Donald Trump’s reserve policy.

The transfers included about 3,940 BTC worth roughly $244 million and around 30,000 ETH valued near $53 million at the time. Arkham’s government wallet tracker recorded the movements, although changing market prices can alter their dollar value.

Seized Bitcoin and Ether reach Coinbase Prime Galaxy Research head Alex Thorn linked the Bitcoin to seizures involving Ryan Farace, known online as “Xanaxman,” and the closed BTC-e exchange.

“These coin movements were comprised of coins seized from Ryan Farace and defunct crypto exchange BTC-e,” Thorn said.

these coin movements were comprised of coins seized from ryan farace (“xanaxman”) and defunct crypto exchange btc-e

— Alex Thorn (@intangiblecoins) July 13, 2026 The Ether came from wallets tied to Brian Krewson, an Oracle employee connected to a federal case involving crypto storage and money laundering. The transfers brought assets from several enforcement cases into an institutional platform used by government agencies and large investors.

Transfer does not confirm a government sale A deposit to Coinbase Prime can allow trading, but it does not prove that officials plan to sell the assets. Coinbase Prime provides custody, execution, financing and staking services. Federal agencies may use the platform to consolidate wallets or move assets into managed custody.

The U.S. Marshals Service selected Coinbase Prime in 2024 to safeguard and trade certain forfeited digital assets. Government wallets have since sent funds to the platform several times. As reported by crypto.news, authorities moved nearly $984,000 in FTX and Alameda-linked crypto in June, with about $768,000 reaching Coinbase Prime.

Trump reserve order limits Bitcoin sales Trump’s March 2025 executive order created a Strategic Bitcoin Reserve and a separate stockpile for other digital assets. The order says Bitcoin placed in the reserve “shall not be sold” and must remain a U.S. reserve asset.

The order also allows some exceptions under existing law. Agencies may return assets to verified victims, use them for law enforcement work or follow a court order. Ether and other non-Bitcoin holdings fall under the separate digital asset stockpile, where the Treasury can set stewardship plans within its legal authority.

Reserve structure remains unsettled The latest movement comes while federal agencies still debate who should manage the Bitcoin reserve.Treasury and Commerce have discussed control of seized BTC while officials review custody, legal authority and the need for new legislation.

Government-linked wallets still hold about $20.5 billion in crypto, based on current tracker estimates. Bitcoin accounts for most of the total, with roughly 325,000 BTC. The wallets also hold Ether, Tether, wrapped Bitcoin and other seized assets, although public trackers may not identify every federal address.

The recorded balance can change quickly because crypto prices move throughout the day. It can also change when courts order restitution, agencies transfer custody, or investigators identify new wallets. Public dashboards therefore provide estimates rather than a complete official federal accounting.

The Monday transfers ranked among the largest government-linked moves to Coinbase Prime in 2026. In April,a federal wallet sent 2.438 BTC from a separate criminal case to the platform.

On-chain records show where funds moved, but they do not reveal the government’s final instructions to Coinbase Prime. A confirmed sale would require further wallet activity, trading records or an official statement. Until then, the transaction remains a custody or asset-management move rather than proof of liquidation.

Key Takeaways Federal authorities transferred approximately 3,940 BTC (valued at ~$244M) and roughly 30,014 ETH (~$53M) to Coinbase Prime this week The Bitcoin originated from seizures connected to Ryan Farace (alias “Xanaxman”) and the shuttered BTC-e exchange; Ethereum traces back to a money laundering investigation involving an Oracle employee This transaction prompts scrutiny regarding Trump’s executive directive from March 2025 that prohibits liquidation of confiscated Bitcoin Transfers to Coinbase Prime don’t necessarily signal an impending sale — the service provides custody and portfolio management capabilities Federal crypto holdings remain substantial at approximately $20.5 billion, with around 325,000 BTC in storage Federal authorities orchestrated a substantial movement of confiscated cryptocurrency assets to Coinbase Prime this week, with blockchain intelligence platform Arkham documenting the transactions. The operation involved approximately 3,940 Bitcoin valued at roughly $244 million alongside about 30,014 Ethereum worth near $53 million.

The Bitcoin portion traces back to law enforcement actions against Ryan Farace, who operated under the alias “Xanaxman,” plus assets recovered from BTC-e, a cryptocurrency exchange that ceased operations. Galaxy Research’s director Alex Thorn publicly verified these origins.

The Ether portion originated from addresses associated with Brian Krewson, an Oracle corporation employee implicated in federal proceedings concerning cryptocurrency custody and financial crimes totaling approximately $54 million. These movements consolidated assets from multiple enforcement actions onto one institutional-grade platform.

Is the Government Planning to Liquidate These Assets? Moving cryptocurrency to Coinbase Prime doesn’t automatically indicate an impending liquidation. This platform delivers comprehensive services including secure storage, trading capabilities, financing options, and staking functionality. Federal departments may simply be reorganizing their holdings or transitioning assets into professionally managed custody arrangements.

The United States Marshals Service selected Coinbase Prime during 2024 as their designated platform for securing and potentially trading confiscated digital currencies. Government-controlled addresses have executed multiple transfers to this platform since then. This week’s operation represents one of the most substantial government-related movements to the platform recorded in 2026.

Previously in June, government-affiliated wallets dispatched approximately $768,000 in cryptocurrency connected to the FTX and Alameda Research collapse to Coinbase Prime. Earlier in April, approximately 8.2 Bitcoin associated with the notorious 2016 Bitfinex security breach was similarly transferred.

Implications of Trump’s Strategic Bitcoin Directive These cryptocurrency movements attract heightened scrutiny due to Trump’s executive directive issued in March 2025. This presidential order established a Strategic Bitcoin Reserve with explicit language mandating that Bitcoin included within this reserve “shall not be sold.”

However, the directive incorporates specific exemptions. Federal agencies maintain authorization to restore assets to confirmed victims, deploy them for investigative purposes, or comply with judicial mandates. Ethereum and alternative digital currencies fall under a distinct digital asset inventory, where Treasury officials possess discretion in establishing management protocols.

The reserve’s operational framework remains under development. Treasury and Commerce departments continue negotiations regarding administrative responsibility for the Bitcoin reserve, addressing questions surrounding custody arrangements, regulatory jurisdiction, and potential legislative requirements.

Government-controlled cryptocurrency wallets currently contain an estimated $20.5 billion in digital assets. Bitcoin comprises the majority of these holdings, totaling roughly 325,000 BTC. Additional holdings include Ethereum, Tether, wrapped Bitcoin, and various other confiscated cryptocurrencies.

Blockchain transparency reveals where funds traveled, but not the specific instructions provided to Coinbase Prime. Definitive evidence of liquidation would require subsequent wallet transactions, exchange records, or formal government announcements. Until such confirmation emerges, analysts interpret this transfer as a custodial reorganization.