Track market-moving stories before they get noisy

South Korea is pushing forward civil enforcement rules for virtual assets, with plans to allow courts to seize and liquidate crypto assets.

South Korea’s Supreme Court has issued a legislative notice for the Partial Amendment to the Civil Execution Rules, which will for the first time bring virtual assets under the scope of civil compulsory enforcement. Following a public comment period, the amended rules are set to take effect on October 1, 2026. Key provisions include: Compulsory enforcement of claims for digital asset transfers (courts may launch enforcement via seizure orders, barring third-party debtors like trading platforms from transferring assets to the debtor, while restricting the debtor from disposing of such claims); Compulsory enforcement of digital assets themselves (courts may seize virtual assets held by the debtor, which will be taken over by enforcement officers, with the debtor prohibited from disposal); Liquidation methods: Seized digital assets can be monetized via transfer orders or auction orders. For assets with low liquidity, conversion into other digital assets prior to auction is allowed.

7 minutes ago

Garret Jin increases his short position on ZEC, with the position valued at $14.9 million.

According to monitoring by Onchain Lens, Garret Jin, agent of the "BTC OG Insider Whale", has increased his ZEC short position to 32,759.57 ZEC, worth $14.9 million. Garret still holds a 5x leveraged BTC long position valued at $80 million, currently with a loss exceeding $16.38 million.

7 minutes ago

ANSEM posts a short-term rally of 25%, with its current market cap standing at $380 million.

According to GMGN monitoring, Solana ecosystem meme coin ANSEM surged 25% within one hour, with its market cap rebounding to around $380 million, posting a 30% 24-hour gain and trading volume exceeding $39.7 million over the same period. The rally is likely due to Ansem himself (X: blknoiz06) announcing the completion of a new round of airdrop distribution, totaling approximately $7 million. BlockBeats Note: Meme coin trading is highly volatile, largely dependent on market sentiment and concept hype, with no actual value or use cases; investors should exercise caution regarding risks.

7 minutes ago

HTX Genesis Hackathon Attracts Over 30 Teams from Top Universities at Home and Abroad

According to official social media announcements, the HTX Genesis Hackathon—hosted by HTX DAO and B.AI, and co-organized by OpenCSG, TinTinLand, and OpenCity—has entered the preliminary screening phase. More than 100 developer teams have registered for the event, with participants hailing from over 30 top universities across 22 global cities, including Tsinghua University, Fudan University, the National University of Singapore, and the University of Edinburgh. The hackathon offers a total prize pool of 20,000 USDT and over $100,000 in computing power support. Participating teams will innovate in areas such as $HTX use cases, B.AI ecosystem applications and computing power services, AI Agent finance, on-chain asset management, trading infrastructure, DAO tools, and smart financial operating systems. The HTX Genesis finals will be held offline on July 19 during the World Artificial Intelligence Conference (WAIC) in Shanghai.

7 minutes ago

Whale MK4 opened a long position in LIT at $1.29, with an unrealized profit of $6.7 million.

According to monitoring by OnchainLens, crypto whale MK4 (@mk4_lul) holds a 5x leveraged long position in LIT, with a position value of $13 million, an entry price of $1.29, and current unrealized profit of $6.7 million. The whale’s wallet address has amassed a lifetime total profit of $173.68 million.

7 minutes ago

Pendle’s funding rate trading platform Boros surpasses the $20 billion notional trading volume milestone.

Pendle’s funding rate trading platform Boros has crossed the $20 billion nominal trading volume milestone in less than a year since its launch. Today, Boros has become the de facto venue for institutions and market participants to trade, hedge, and capture funding rate differentials across platforms, with over 170 markets of varying maturities to date.

7 minutes ago

Bitcoin (BTC) spiked to nearly $64,000 in the early hours of July 6, reaching $63,900 on CoinGecko, extending a weekend rally that liquidated hundreds of millions of dollars in short positions.

The move capped a sharp reversal from the $58,293 low Bitcoin touched on July 1. A softer-than-expected jobs report reshaped rate-hike expectations heading into the new week, helping Bitcoin’s price claw back.

Weak Jobs Data Triggers a Short SqueezeThe rally traces back to Thursday’s US Nonfarm Payrolls report. The report showed the economy added just 57,000 jobs in June, far below forecasts. The miss lowered the odds of a near-term Federal Reserve rate hike, and Bitcoin had already gained ground on Warsh’s inflation risk comments earlier in the week.

Lower Treasury yields and a weaker dollar reduced the opportunity cost of holding Bitcoin, helping the asset recover from a bearish June. Spot Bitcoin ETFs added to the momentum. An ETF inflow reversal snapped a 10-day run of redemptions, though the funds are still working through June’s record outflows of $4.5 billion.

A weekend of rising price action was capped by a spike towards $64,000. Image Source: BeInCryptoShort Sellers Caught Off GuardTraders lost over $450 million in short positions across the derivatives market as Bitcoin broke through $62,000. Bitcoin’s price reflected the broader squeeze dynamic, in which forced buybacks push the price into the next tranche of shorts.

Ether rose roughly 4% on the day and about 10% over the week, while Solana added nearly 19%, the strongest gain among major tokens. Institutional flows have not fully confirmed the move, with ETFs still recovering from their worst month on record.

Whether the squeeze becomes a durable trend remains an open question. Forced short-covering tends to produce fast price moves rather than sustained demand. The market now enters the third quarter with thinner liquidity, a dynamic that could cut in either direction.

Cover image via depositphotos.com 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.

After rising from the $1.05 support zone, XRP is making one of its best attempts at recovery in weeks. The asset has quickly gained momentum and is currently testing the region surrounding the 50-day EMA, which has served as a ceiling during the current decline. 

Despite the recovery, XRP's technical market structure is still bearish. The asset broke out of a descending triangle pattern earlier in the year, and it spent the majority of June setting lower highs and lower lows. But the recent surge has raised the RSI above 50, indicating that bullish momentum is at last coming back. The 50-day moving average, which is close to $1.19, is the important level to monitor. 

XRP/USDT Chart by TradingViewThe first significant technical win for bulls in months would come from a breakout above this resistance, which could pave the way to the $1.28 area, where the 100-day EMA is currently located. The longer-term downtrend structure would then provide more resistance for XRP. The recovery has seen an increase in volume, which gives the move more legitimacy. 

HOT Stories

However, once XRP hits significant resistance levels, buyers still have to demonstrate that they can maintain demand. XRP may swiftly return to support at $1.10 if the current rally stalls below the 50-day EMA. Momentum is currently in favor of the bulls, but confirmation is still required before discussing a more significant trend reversal. 

Shiba Inu is a weak linkDespite a slight recovery from recent lows, Shiba Inu is still among the weakest large-cap coins on the market. After recovering from a selloff that brought it near the crucial $0.0000040 support level, the meme coin is currently trading close to $0.0000043. The big picture is still negative. 

You Might Also Like

Sellers continue to dominate the market as SHIB continues to trade below its 50-, 100-, and 200-day moving averages. The asset broke out of a rising wedge formation earlier this year, and the subsequent decline indicated that the long-term downtrend would continue. Over the past few days, SHIB has avoided a total collapse thanks to the emergence of a small recovery structure. 

The RSI is getting closer to neutral levels after rising from oversold territory, indicating that selling pressure is lessening. However, the bounce remains relatively weak compared to previous recovery attempts. Near $0.0000049, the location of the 50-day EMA, is the first significant barrier. Bulls must reclaim the significant psychological barrier at $0.0000050 above that in order to alter market sentiment. 

SHIB runs the risk of turning the current rebound into another lower high in the absence of greater volume. The token may return to the $0.0000040 support zone if buyers are unable to break through nearby resistance. However, a breakout above $0.0000050 would greatly enhance the technical outlook and might even start a more extensive recovery phase. 

Bitcoin's attempt to regain strengthAfter one of the biggest selloffs in recent months, Bitcoin is making an effort to rebound. Before buyers intervened and sparked a relief rally, Bitcoin fell toward the $58,000–$60,000 support zone following a breakdown from the $80,000 region. Bitcoin has returned above the 20-day EMA as a result of the rebound, indicating that short-term momentum is strengthening. 

The overall technical picture is still difficult, though. The 50-day and 100-day moving averages, which are located close to $66,700 and $69,500, respectively, are still above BTC. These levels are now the main cluster of resistance that bulls have to get past. The recent rebound also comes after a sharp upward trend that propelled Bitcoin through April and the first part of May was declared invalid. 

You Might Also Like

Selling pressure increased after that trendline broke, resulting in a series of liquidations that altered the structure of the market. Early signs of improvement are being seen in momentum indicators. After spending some time in oversold territory, the RSI has recovered toward the neutral 50 zone, indicating that bearish pressure is subsiding. 

However, buyers still have to demonstrate that the recovery has sufficient strength, as the indicator is still far from overbought conditions. Watching the $66,000–$70,000 range is crucial. 

A breakout above that range would put Bitcoin back above its medium-term trend indicators and might lead to a move in the direction of the 200-day moving average at about $75,000. However, another test of the $60,000 support area might result if resistance is not overcome. Rather than a verified reversal, Bitcoin is stabilizing. Bulls still face formidable technical obstacles, but the recovery is encouraging.

Dogecoin bouncesAfter finding support around $0.070, Dogecoin is still trapped inside a larger bearish structure that has dominated trading all year. DOGE entered a sharp correction that drove the asset to new yearly lows after losing a significant rising support trendline that had been in place since February. The token's price is rising back toward the 20-day EMA as a result of the recent bounce, which has helped it regain some lost ground. 

DOGE/USDT Chart by TradingViewThe fact that Dogecoin is still below all of the major moving averages presents a challenge for bulls. The longer-term trend is still negative, as evidenced by the 50-day EMA near $0.088 and the 100-day EMA near $0.095, which both continue to slope downward. Oversold conditions, which frequently precede relief rallies, have begun to improve for the RSI. 

The indicator is getting closer to the neutral zone, indicating a short-term loss of control for sellers. Additionally, during the most recent rebound, volume has somewhat improved, lending the move more legitimacy. The first significant level of resistance is located between $0.080 and $0.088. 

The psychological $0.10 level is probably the next target if DOGE is successful in regaining that area. After months of weakness, sentiment would considerably improve with such a move. On the downside, DOGE may return to the recent support level at $0.070 if momentum is lost. Dogecoin still needs a clear breakout above its moving averages before a sustainable trend reversal can be verified, even though the current bounce is encouraging.

Bitcoin

5 July 2026 | 16:20 It looks like Bitcoin's problem right now isn't that holders have lost faith. It's that the money needed to push price higher has drained out of the system.

Key Takeaways Stablecoin exchange inflows sit at an 18-month low, down 56% from the mid-2025 rally. USDC and USDT supply has been contracting since November 2025, a demand gauge turning negative. Three independent methods converge on the same floor: $58,000-$60,000. BTC trades at $62,794, bouncing off its 50-month average at $59,878. Four separate on-chain lenses all describe the same market from different angles, and they agree on the structure while disagreeing only on how deep it goes: this is a liquidity drought, not a conviction collapse.

The Fuel Gauge Is Near Empty Start with the clearest signal. According to CryptoQuant analyst Zakariya Sharif, mean stablecoin inflows across all exchanges sit at 21,557, down 56.25% and the lowest in 18 months. During the mid-2025 rally, those inflows regularly spiked between 100,000 and 280,000.

ERC20 stablecoin exchange inflow and Bitcoin price correlation. One isolated spike in May 2026 failed to reverse the trend, and flows have flatlined since. Sharif’s framework is specific: inflows staying below 30,000 for two more weeks points to a retest of $58,000-$60,000, while a sustained recovery above 80,000-100,000 would be the first genuine sign buyers are returning.

The supply side of stablecoins tells the same story. CryptoQuant’s Darkfost notes USDC’s market cap is down 3.6% and USDT down 2% over 30 days, a contraction running since November 2025.

30-day market cap growth of major stablecoins versus Bitcoin price. The mechanism is what makes this meaningful: issuers mint new tokens when demand rises and burn surplus when it weakens, so stablecoin supply is itself a demand gauge. A net burn means more capital has left crypto than entered. Inflows at 18-month lows and stablecoin supply shrinking are the same fact measured twice.

Where the Money Went This is where a growing number of prominent voices offer an explanation, and a reason the drought may not be permanent. Several major figures argue the liquidity didn’t vanish, it rotated into AI. Raoul Pal, the Real Vision CEO and former Goldman Sachs executive, frames the crypto weakness as the product of negative excess liquidity that pulled capital into AI and semiconductor sectors, a condition he now says is beginning to reverse as broader liquidity measures turn positive.

Arthur Hayes has put numbers on it, estimating that hyperscalers and AI firms issued roughly $1.5 trillion in debt between late 2022 and mid-2026, almost exactly matching the rise in M2 money supply over the same period, leading him to argue “AI sucked up all created dollars.” Tom Lee and CZ have pointed to the same rotation pattern, US semiconductor ETFs pulled in more than $20 billion since April while Bitcoin and gold ETFs saw outflows, and the shared thesis among them is that this capital tends to rotate back toward crypto once liquidity conditions ease and crypto reclaims performance leadership. It’s a view worth weighing as the optimistic counterpoint, though it remains a thesis about what could happen, not a confirmed turn.

That framing points to a deeper structural shift underway, one Michael Saylor has articulated more directly than most. Saylor argues that “Bitcoin evolves by not changing,” meaning its next phase will come not from frequent protocol upgrades but from being woven more deeply into global finance.

https://t.co/z65C1oYdaw

— Michael Saylor (@saylor) July 5, 2026

In his view, the coming decade will be driven by capital flows rather than miner issuance, with demand increasingly sourced from ETFs, corporate treasuries, sovereign reserves, bank credit, derivatives, insurance, collateral markets, structured credit, and global savings. “The halving tightens supply. Capital flows set the growth trajectory,” as he puts it, reflecting his conviction that institutional adoption, not the protocol itself, is the engine of Bitcoin’s long-term growth. It’s a useful lens for the current moment: if capital flows are what ultimately move Bitcoin, then the stablecoin drought this article describes is precisely a capital-flow problem, and the case for a recovery rests on those flows turning, exactly as the AI-rotation thesis suggests they could.

How Deep Is the Bottom? The depth gauges agree the market is in a bottom-formation zone, but not yet at historical extremes. Darkfost, using a chart by Joao Wedson, points to the True Market Mean, the average price of active Bitcoin excluding long-dormant coins, sitting near $76,700. That level acted as resistance in May, when holders exited at break-even rather than keep holding.

Bitcoin True Market Mean Price and AVIV Ratio analysis. The related AVIV ratio sits around 0.8, meaning the active cohort holds an average 20% loss. Prior bear-market bottoms printed 0.5-0.6, or 40-50% losses, so this is significant but not yet capitulation-grade. Darkfost’s own hedge is worth keeping: ETF-era adoption may mean full historical devaluation isn’t required, though nothing yet contradicts the cyclical pattern.

CryptoQuant’s Yonsei adds another measure. Just 51.9% of circulating supply is in profit, in bear/bottom territory below 55% since June and trending down since October 2025, approaching the 44% that marked the 2022 absolute bottom. That 2022 bottom phase lasted roughly eight months; mapped onto this cycle, the phase could stretch into September or October 2026.

Bitcoin supply in profit percentage trends. Every depth gauge says the same thing with different numbers: AVIV at 0.8 versus 0.5-0.6 at prior bottoms, Supply in Profit at 51.9% versus 44% in 2022, drawdown around 50% versus 60-80% in prior cycles. The 2022 template has room left. The open question is whether ETF-era adoption shortens the distance.

The Levels All Point to One Floor Here’s the detail that could tie everything together. On the monthly chart, July’s candle is up 7.29% to $62,794 after a June low of $57,700, and it’s bouncing off a level that matters: the 50-month simple moving average at $59,878. This is the same average Bitcoin never lost during the entire 2024-2025 run. Monthly RSI at 43.14 is the weakest of the cycle, while the 100-month average at $40,488 stands as the historical bear-market floor reference.

Monthly BTC/USD price chart on Bitstamp / Source: TradingView What makes the $58,000-$60,000 zone compelling is that three completely independent methodologies land there. Sharif’s on-chain risk zone ($58,000-$60,000), the June price low ($57,700), and the 50-month SMA ($59,878) all sit in the same band. Flow analysis, price history, and long-term trend structure, three unrelated approaches, identify the same floor. Above price, the ceiling story converges too: the True Market Mean at $76,700 is where active holders break even, which functionally caps rallies until either price consolidates long enough for the cost basis to fall or demand strengthens enough to absorb those break-even sellers.

That said, this is still crypto, a market that has a long history of surprising even the most aligned models, and if there’s one thing the past cycles have taught, it’s that when every analyst and dataset agrees on a floor, the market is fully capable of slicing straight through it to levels no one was positioned for.

Three Frameworks, One Timeline The timing estimates cluster just as tightly. Yonsei_dent’s Supply-in-Profit template points to September-October. Markus Thielen’s earlier analysis mapped a Q4 bottom. Rekt Capital’s estimate that the cycle is 71% complete implies late 2026. Three unrelated frameworks land in the same quarter, and that clustering is itself information worth stating plainly, rather than any single forecast carrying the weight.

This is also corroborated outside CryptoQuant. A CEX.IO report covered by CryptoSlate found total stablecoin supply contracted to $312 billion in Q2, the first quarterly decline since 2023, with transaction counts posting their largest drop on record. The liquidity story isn’t one analyst’s read; it’s showing up across independent datasets.

The Sequence to Watch The value in stacking these signals is that they have an order, a sequence that could confirm a genuine turn rather than a false start:

First, stablecoin supply must stop burning. Issuance is the fuel gauge, and it has to stabilize before anything else matters. Then, exchange inflows recover above 80,000-100,000. That’s the fuel actually reaching the engine. Then, Supply in Profit reclaims 55%. The marker of the phase transition out of bottom territory. Finally, price has to take on $76,700. The structural exit test, where break-even sellers get absorbed. Right now the market sits at step zero, holding the $58,000-$60,000 floor while it waits for step one. A monthly close below the 50-month average at $59,878 before that liquidity turn arrives could invalidate the floor thesis and open the path toward the deeper historical targets. Until the dollar side of the order book refills, this is a market resting on a well-defined floor, with conviction intact and only the fuel missing.

This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.

Author

Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

Table of contents

The crypto market has seen its share of public figures vow to hold forever, but Barstool Sports founder Dave Portnoy’s latest declaration carries a heavier dose of irony. After entering bitcoin near $100,000—and timing it wrong once again—Portnoy now says he will ride the position all the way down to zero. The statement landed with the kind of forced bravado that retail traders know well, as detailed in the CoinDesk report.

Portnoy’s public trading record is littered with poorly timed entries and panic exits. He has previously bought bitcoin near local tops, sold into dips, and returned to the market only when prices recovered. This pattern has turned him into something of a sentiment indicator for a certain slice of retail traders. The difference now is the refusal to sell, even as losses deepen. The psychology is familiar: when a trader stops trying to time the market and decides to simply hold, it often reflects exhaustion rather than conviction.

Portnoy’s History of Poorly-Timed Buys Earlier cycles saw Portnoy publicly announcing bitcoin purchases during euphoric rallies, then reversing course within weeks when prices soured. Each time, the cycle repeated—a quick buy at elevated levels, followed by a tweet about the pain, and eventually a sale that locked in losses. The pattern made him a lightning rod for criticism but also a mirror for the emotional swings that drive many retail participants. Now he says he will not repeat the mistake of selling, even if that means a complete wipeout.

This pledge surfaces at a moment when many assets remain well below their cycle peaks, and traders who bought near the top are wrestling with similar decisions. For those holding tokens deep in the red, the hope of a recovery can feel like the only play left. Articles like our Filecoin (FIL) Price Prediction: Will FIL Recover Its All-Time High? capture the same question facing holders of assets that have fallen hard from their highs.

The Sentiment Signal Behind a Hold-to-Zero Pledge Declarations of holding to zero rarely come from a position of strength. More often, they surface when a trader is deeply underwater and has exhausted every attempt to recoup losses through short-term trades. The market frequently interprets such extreme sentiment as a contrarian signal, though the timing is never precise. Capitulation by retail traders—especially those with a large public platform—can mark a local bottom, but it can also simply be another act in a longer drama.

What makes Portnoy’s situation notable is not the size of his position, but the visibility of it. His every trade is broadcast to millions, and his emotional arc mirrors the experience of countless smaller participants. That gives his hold-to-zero stance a weight beyond any single portfolio. It becomes a data point in the ongoing tension between retail pain and institutional accumulation. While some tokens have posted strong weekly rallies, as noted in our look at the top crypto gainers this week, the broader retail narrative remains one of waiting for a recovery that feels increasingly distant.

Beyond a Single Trader’s Pledge The real question is whether this promises anything beyond the next tweet storm. Portnoy has a history of breaking his own rules. If bitcoin drops another 20%, will he really sit still? If it rallies back toward his entry, will he resist taking the exit ramp? The market has seen similar vows collapse under pressure. The difference now is that there are no easy bailouts via a roaring bull market; the environment requires patience or surrender.

At the same time, the episode underscores how deeply retail psychology is woven into crypto’s price narrative. Institutional flows, ETF demand, and regulatory developments drive the big moves, but the chatter on social platforms still reflects a real and often painful human layer. What one high-profile holder does with his underwater position matters less for the market as a whole than for what it reveals about the mood of the crowd. For now, Portnoy’s promise to hold to zero is a declaration of defiance—and a signal that some bag holders are still clinging on.

AUTHOR

Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.

COINTELEGRAPH: Bitcoin nears $63.5K into weekly close as trader warns of 'terrible' Monday

Ledger co-founder Eric Larchevêque says Bitcoin (CRYPTO: BTC) is not a path to quick wealth but a way to protect the "fruit" of one’s work in a world where bank deposits, gold custody and fiat savings depend on third parties.

What HappenedIn an interview with "When Shift Happens" on June 25, Larchevêque said his conviction in Bitcoin was shaped by early experiences with the traditional financial system.

He recalled losing access to funds after a Latvian bank failed and later being denied physical access to gold bars held through a Luxembourg bank, which instead liquidated the gold and wired him euros.

Those experiences, he said, made him realize the difference between assets investors think they own and assets they control.

"Bitcoin solves the problem of owning your money," Larchevêque said, arguing that bank balances are ultimately claims on institutions, while Bitcoin held in self-custody is a final asset.

Larchevêque said he began moving heavily into Bitcoin around 2014, eventually placing almost all of his liquid net worth into the asset.

He said he does not measure his wealth in euros but in the number of Bitcoins he owns.

Ledger, Self-Custody And RiskLarchevêque said Ledger was built to help users secure crypto assets, but added that self-custody requires personal responsibility.

He warned investors never to share their 24-word recovery phrase and said large holders should avoid keeping direct access to their full holdings at home.

He also discussed the kidnapping of Ledger co-founder David Balland, who was tortured while criminals demanded a €10 million Bitcoin ransom from Larchevêque.

The incident, he said, showed that physical security has become a major issue for visible crypto holders, especially in France.

Long-Term ViewDespite Bitcoin’s volatility, Larchevêque said the only workable strategy is long-term conviction.

He advised ordinary investors not to copy his all-in approach, but instead to build a disciplined Bitcoin strategy through regular accumulation and only with money they do not need for daily life.

"The only people I know who had success with Bitcoin investment are the ones who forgot about it," he said.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

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

To add Benzinga News as your preferred source on Google, click here.

Wall Street’s Bitcoin expectations have taken another hit. Citi has cut its 12-month Bitcoin target to $82,000 from $112,000, pointing to weaker investor appetite, negative ETF flows, and a slower regulatory backdrop in the United States.

The move is not just another forecast revision. It shows how much of the institutional Bitcoin thesis still depends on one input: whether spot ETFs can keep attracting fresh capital.

For more details, visit the official Reuters platform.

TL;DR Citi lowered its Bitcoin target to $82,000 and cut its Ether forecast to $2,240. The bank also reportedly reduced its assumed net ETF inflows over the next 12 months to zero, down from a previous expectation of $10 billion. That is the real headline for crypto markets.

Price targets are easy to debate. Flow assumptions are harder to ignore.

Bitcoin’s ETF launch era gave the market a clear institutional demand story. For a while, that story helped support higher prices and stronger confidence. But when flows turn negative, the same structure works in reverse. Analysts do not simply mark down price targets because BTC fell. They mark them down because the demand model behind the price target has changed.

That is what Citi’s revision reflects.

The ETF Bid Is Being Repriced The key issue is not whether Bitcoin can still trade above Citi’s target. It can. Crypto price targets are never guarantees. The more important point is that one of the market’s most widely followed demand channels has become less reliable.

ETF flows have been treated as the bridge between traditional portfolios and Bitcoin exposure. If those flows weaken, the market has to lean more heavily on native crypto demand, corporate treasury buyers, and long-term holders.

That can still be enough. But it makes the path more volatile.

Citi’s cut also lands at a moment when digital asset treasury companies are under closer scrutiny. If investors worry that treasury buyers may become sellers, the market’s confidence in institutional accumulation weakens further. That does not mean a wave of forced selling is inevitable, but it adds another layer of caution.

Why This Matters For Bitcoin Traders For traders, the message is simple: Bitcoin needs a new catalyst or a repair in ETF flows.

A stronger macro backdrop could help. So could clearer US digital asset legislation, a return of ETF inflows, or renewed accumulation from long-term holders. Without one of those, the market may struggle to rebuild the same momentum it had when spot ETF demand was the dominant story.

That does not make Citi’s $82,000 target bearish in absolute terms. It is still above current prices. But it is a meaningful downgrade from the earlier view and shows that institutional expectations are being reset.

Bitcoin has survived plenty of forecast cuts before. The question now is whether the ETF market can stop being the reason analysts lower their numbers and start being the reason they raise them again.

This report is based on information from Reuters and Citi’s reported market forecasts.

This article was written by the News Desk and edited by Samuel Rae.

The cryptocurrency market is a 24/7 arena filled with constant motion and instant changes. While you’re asleep at midnight, Bitcoin’s price can suddenly surge, or while you’re sitting in a meeting, your favorite altcoin might hit a local bottom. In such a fast-moving market, gaining an edge requires one essential thing: a smart assistant that delivers complete, real-time data without delay. This is exactly where a lightweight yet highly capable app steps in available on both iOS and Android, natively supporting English, Spanish and Turkish, and removing the hassle of mandatory sign-ups: CryptoAppsy.

Everything on a Single ScreenFrom the moment you open the app, you’re greeted with real-time prices for thousands of cryptocurrencies from Bitcoin to the latest newly launched altcoins. CryptoAppsy processes data pulled from global exchanges within milliseconds and delivers automatic updates every 5 seconds. This ensures you never miss arbitrage opportunities and can catch sudden price movements the moment they happen.

In the Dashboard tab, you can view your favorites, portfolio, price alerts, and personalized news all on a single screen and updated automatically in real time. Instead of jumping between multiple exchanges or pages, you stay focused on the assets that matter most to you. Below, you can see examples of the price and dashboard screens.

Crypto & USD Earning Opportunities Are Waiting for You!New rewards and surprise opportunities are added to the app every day. You can instantly check today’s special offers on the Deals page and follow regularly refreshed chances to earn crypto and USD. Don’t forget to tap the icon in the top-right corner of the app and check it frequently luck can strike at any moment!

A Feature You Won’t Find Elsewhere: Multi-Currency Portfolio ManagementCryptoAppsy also offers a smart portfolio management tool designed to help you track your investments holistically. When you manually define your portfolio within the app, your total asset value is automatically recalculated every 5 seconds using live exchange rates. There’s no need to create spreadsheets to see your performance your real-time profit and loss figures are always visible on screen.

What truly sets CryptoAppsy apart is its unique multi-currency support. Even if you purchased different coins using different fiat currencies such as USD, TRY, EUR, JPY, GBP, CNY, AUD, CAD, CHF, HKD, or SGD all your positions are tracked simultaneously and presented as a total portfolio value in any fiat currency you choose. For example, even if you bought BTC in USD and ETH in GBP, the app instantly aggregates everything using live rates and displays your total value in USD, EUR, or any supported currency. This level of flexibility is a major convenience rarely found in similar apps.

A News Feed Tailored to Your PortfolioIn the crypto world, information is just as valuable as capital. However, cutting through the noise can be difficult. CryptoAppsy solves this with its integrated News section. The app delivers up-to-date news summaries in the language you’re using Turkish, English, or Spanish curated by experienced editors from dozens of trusted sources and presented in clear, concise formats.

The best part? You can filter the news feed to show only articles related to the cryptocurrencies in your own portfolio. As shown above, once you activate the My Portfolio filter, the app lists only the latest news relevant to your investments. A single tap is enough, and the app remembers your preference every time you open it. You can also filter news by specific coins such as BTC or ETH and access the original sources with just one touch.

Additionally, the Live Feed within the News tab lets you follow breaking developments instantly on a single screen. The Weekly Highlights section shows all major upcoming events for the week, clearly indicating the day and time of each. This way, instead of wasting time on social media rumors, you get critical, market-moving information directly from reliable sources without extra effort.

Discover Newly Launched Coins InstantlyThe Index tab features comprehensive crypto market data along with newly listed cryptocurrencies. Coins that are freshly listed on exchanges appear instantly, giving you first-hand access to details such as launch time, price, volume, market capitalization, and even the blockchain they’re built on. By discovering new projects early before prices peak you gain the opportunity to position yourself ahead of the market. Advanced chart views also allow you to review historical data with just a few taps and analyze trends effortlessly.

Key Macroeconomic Indicators at a GlanceWithin the Index section, CryptoAppsy also includes a Macro Data card. Here, you can track the most important indicators affecting crypto markets, such as upcoming Federal Reserve meeting dates, Fed interest rate expectations, U.S. 10-year Treasury yields, the DXY dollar index, and U.S. unemployment rates. Each data point is interactive, allowing you to view historical charts with a single tap.

Smart Price AlertsIn crypto markets, anything can happen at any moment and it’s not always possible to stay glued to a screen. That’s why CryptoAppsy offers advanced 🔔 smart price alerts. When a cryptocurrency reaches a price level you’ve set, the app sends you an instant push notification. Whether it’s a sudden surge or a sharp drop, you’re informed immediately even if you’re fast asleep at night. These alerts help users avoid emotional decision-making and stay aligned with their predefined strategies. Even when the app isn’t open, CryptoAppsy continues monitoring the market in the background, standing guard on your behalf so you never miss an opportunity.

What Users Say: A 5.0/5 Rated ExperienceUser feedback clearly confirms the value CryptoAppsy delivers. With ⭐5.0 on the App Store and ⭐4.7 on Google Play, reviews frequently highlight phrases like “perfect for beginners,” “excellent news summaries,” “clean and eye-friendly design,” and “no need for another app.” Many users also note that fast notifications help them act on opportunities without delay. This high satisfaction shows that CryptoAppsy is a reliable and practical solution for both newcomers and active traders alike.

Thanks to its intuitive design, even first-time users can navigate CryptoAppsy without wondering, “What should I do next?” The interface is simple and beginner-friendly, while remaining fast and performance-focused for experienced traders. Its lightweight structure ensures smooth operation even on older devices. There’s no email verification or registration required just download the app and start tracking the market within seconds. Beginners can explore confidently, while professionals benefit from the speed required when milliseconds matter.

Whether you’re preparing to make your first crypto investment or actively trading on a daily basis, CryptoAppsy is the ideal companion for simplifying market complexity and saving you time. With real-time prices, personalized portfolio tracking, smart alerts, clean and live news feeds, and instant access to newly listed coins, CryptoAppsy stands out from the competition. Download CryptoAppsy now from the App Store or Google Play, take control of the crypto market, and start seizing opportunities today.

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.

Bitcoin has staged a notable rebound after sweeping liquidity beneath the June lows, but the recovery is now approaching a critical resistance cluster. While momentum has improved in the short term, the broader structure remains bearish until BTC reclaims several major resistance levels overhead.

Bitcoin Price Analysis: The Daily Chart The daily timeframe shows Bitcoin continuing to trade below its key moving averages, with both the 100-day and 200-day moving averages sloping lower and acting as dynamic resistance. The market remains structurally bearish after losing the $72K-$74K support zone in June, which has now flipped into a major supply area.

However, the recent price action is becoming more constructive. BTC successfully defended the $58K-$61K support region and produced a sharp bounce from the lower boundary of the broader descending structure.

More importantly, the daily RSI has formed a bullish divergence, with momentum making higher lows while the price registered comparable or lower lows around the June bottom. This divergence often appears during exhaustion phases and suggests selling pressure has been weakening despite the downtrend.

The immediate challenge lies around $65K-$67K, where a major resistance zone intersects with the descending upper trendline. A successful breakout above this area would likely trigger a larger recovery toward the former breakdown region near $72K-$74K. Conversely, rejection from the current resistance cluster would reinforce the prevailing bearish structure and increase the probability of another move toward the $60K support area.

BTC/USDT 4-Hour Chart The 4-hour chart highlights a developing falling wedge structure. Bitcoin recently rebounded from the lower boundary near $58K and has advanced steadily toward the upper trendline, which currently converges with the $63K-$64K area.

The recovery has already reclaimed the $60K-$61K support zone, turning it back into a short-term demand area. Price is now testing the upper boundary of the wedge while approaching the lower edge of the $64K-$66.5K supply zone.

A breakout above the descending trendline could accelerate bullish momentum and open the path toward the higher resistance region around $65K-$67K. Such a move would also confirm a short-term shift in market structure after weeks of lower highs.

If the breakout fails, Bitcoin may continue consolidating inside the wedge before attempting another push higher. The $60K-$61K region remains the most important near-term support, while a breakdown below it would place the recent recovery at risk.

Sentiment Analysis The Spot Average Order Size metric provides insight into the behavior of larger market participants. Recent data shows that whale-sized transactions continue to dominate activity despite Bitcoin trading near local lows.

The latest readings indicate that large orders remain active in the market while prices hover around the $60K-$63K region. Although the metric alone cannot determine directional intent, the persistence of larger transaction sizes during a prolonged decline suggests institutional and high-net-worth participants remain engaged rather than stepping away from the market.

Combined with the bullish RSI divergence on the daily chart and Bitcoin’s defense of the $58K-$61K support zone, the data suggests accumulation interest may be emerging around current levels. Nevertheless, confirmation still requires a technical breakout above the descending trendline and the $65K-$67K resistance cluster.

Until that occurs, Bitcoin remains in a broader corrective structure, with the current recovery appearing more like an attempt to build a base rather than a confirmed trend reversal.

Tags:

US spot Bitcoin exchange-traded funds (ETFs) experienced net redemptions of approximately $527 million across the four trading days concluding on July 2, 2026. This figure, drawn from data compiled by SoSoValue, now extends a challenging run for these investment vehicles, marking their eighth consecutive week of overall outflows.

The sustained withdrawals highlight ongoing caution among investors seeking exposure to Bitcoin through traditional financial markets.Spot Bitcoin ETFs were introduced in the United States in January 2024 following regulatory approval.

They hold actual Bitcoin in custody and allow investors to gain price exposure through familiar brokerage accounts, without the complexities of direct cryptocurrency ownership, wallets, or private keys.

Since their launch, these products have amassed tens of billions in assets under management, becoming one of the most significant channels for institutional and retail participation in the Bitcoin market.

Major issuers include well-known asset managers whose funds collectively represent a meaningful share of Bitcoin’s circulating supply.

The latest outflows add to a broader pattern of redemptions that has persisted for multiple weeks.

Over the recent four-day window, the aggregate withdrawals reached roughly half a billion dollars, reinforcing the negative weekly momentum.

Such flows occur when investors redeem ETF shares, prompting fund managers to sell portions of their Bitcoin holdings to meet those requests.

This mechanism can create indirect selling pressure on the underlying cryptocurrency, particularly during periods of reduced demand or heightened market uncertainty.

Eight straight weeks of net outflows represent one of the longer negative streaks observed since the ETFs began trading.

This trend may reflect a variety of influences, including shifts in broader risk appetite, evolving macroeconomic conditions, or adjustments following earlier periods of strong price appreciation for Bitcoin.

Investors often use ETF flow data as a real-time indicator of institutional sentiment toward digital assets.

Prolonged redemptions can weigh on market psychology, even as total assets in the funds remain substantial and continue to demonstrate meaningful long-term interest in Bitcoin as an investable asset.

Market observers typically track these statistics closely because inflows have historically supported upward price momentum by increasing demand for Bitcoin, while outflows can contribute to the opposite effect.

According to insights from SoSoValue, the current environment shows mixed signals, with some funds experiencing heavier redemptions than others depending on their size, fees, and investor base.

Despite the recent pressure, the overall ecosystem of spot Bitcoin ETFs has matured significantly, offering greater liquidity and transparency compared to earlier methods of gaining cryptocurrency exposure.

Looking forward, participants in the digital asset space will continue monitoring weekly and daily flow reports for signs of stabilization or reversal.

Any sustained return to positive inflows could help ease selling pressure and support a more constructive backdrop for Bitcoin prices.

Conversely, further extended outflows may keep sentiment cautious in the near term.

The data from SoSoValue now underscores how these regulated products have become central to Bitcoin’s integration with traditional finance, serving both as a barometer of demand and a conduit for capital flows that directly influence the underlying asset’s supply and demand dynamics.

Strategy still sits at the centre of the corporate Bitcoin map. BitcoinTreasuries data shows the company holding 847,363 BTC, keeping it far ahead of other public corporate holders and leaving it as the name every treasury company is measured against.

But the market’s focus has changed. Investors are no longer just asking how much Bitcoin Strategy owns. They are asking what the equity is worth relative to the coins, how the capital stack behaves in a weaker market, and whether the treasury premium can keep doing the work it used to do.

For more details, visit the official Bitcointreasuries platform.

TL;DR Strategy remains the dominant public Bitcoin treasury company, with 847,363 BTC listed by BitcoinTreasuries. The more interesting part of the story is the pressure around valuation metrics such as mNAV. When treasury companies trade at a premium to their Bitcoin, they can raise capital and accumulate. When that premium compresses, the model becomes more complicated.

That is why Strategy’s position matters beyond its own stock. It is the benchmark for the entire corporate BTC trade.

The Treasury Trade Is Growing Up For much of the cycle, the Bitcoin treasury model was treated almost like a flywheel. A company bought BTC, the market rewarded the stock, and the higher valuation created more room to raise capital and buy more BTC.

That model is powerful when it works. It can also become fragile if the market stops paying for the premium.

Strategy’s scale gives it advantages smaller treasury firms do not have: deep market recognition, a long operating history, a clear Bitcoin identity, and a capital-markets playbook that investors understand. But even Strategy is not immune to changing sentiment.

When Bitcoin falls and ETF flows weaken, treasury-company stocks can become a pressure point rather than a pure demand story.

Why mNAV Has Become The Number To Watch The reason mNAV matters is simple. It tells investors how the market values the company relative to its Bitcoin holdings and capital structure. A high premium can make accumulation easier. A low or negative premium can raise tougher questions.

That does not mean Strategy is forced into any single path. It does mean the market is now paying closer attention to funding costs, preferred-stock dynamics, potential buybacks, and whether Bitcoin holdings are being treated as strategic capital or simply balance-sheet inventory.

For Bitcoin traders, the takeaway is that treasury-company demand is no longer a simple bullish headline. It needs to be understood through the lens of financing.

If Strategy’s model stabilises, it could calm fears around the broader treasury theme. If pressure continues, the market may become more sceptical of smaller companies trying to follow the same playbook.

Strategy remains the giant in the room. But even giants have to deal with market structure when the premium trade gets tested.

This report is based on information from BitcoinTreasuries and Strategy purchase disclosures.

That is also why smaller treasury companies are being judged more harshly now. The market is no longer rewarding every Bitcoin balance-sheet announcement equally. Scale, liquidity, financing flexibility, and shareholder trust are becoming part of the same conversation as the raw BTC count.

This article was written by the News Desk and edited by Samuel Rae.

Bitcoin’s rebound has not removed the risk of another volatile move. CryptoQuant is warning that exchange deposit activity has picked up across Bitcoin, Ethereum, and altcoins, a pattern that often appears when traders are preparing to move risk around quickly.

That does not automatically mean a crash is coming. It does mean the market is becoming more sensitive.

For more details, visit the official Cryptoquant platform.

TL;DR CryptoQuant’s latest market read points to a jump in exchange deposits, including elevated Bitcoin inflows. Rising deposits can be a volatility signal because coins moving to exchanges are more likely to be sold, hedged, rotated, or used as collateral.

The important word is “can.” On-chain deposits are not a perfect sell signal. Sometimes coins move to exchanges for liquidity management, derivative margin, or market-making activity. But when deposits spike while price is already under pressure, traders tend to pay attention.

That is the situation Bitcoin is in now. BTC has stabilised, but the wider market still feels jumpy. ETF flows have been uneven, altcoins are fragile, and macro risk appetite is not giving crypto a clean tailwind.

Why Deposits Matter Here Exchange inflows matter because they change the available supply profile. Coins sitting in cold storage are usually less likely to hit the market quickly. Coins arriving on exchanges are more flexible. They can be sold, used to open positions, or shifted into other assets.

When a large number of coins arrives at once, the market starts asking why.

If the inflow is driven by whales preparing to sell, spot pressure can build. If it is linked to derivatives positioning, volatility can rise even if the coins are not immediately dumped. If it reflects market makers preparing for higher activity, price can swing both ways.

That is why the signal is more about volatility than direction. The market is being primed for movement.

Bitcoin Needs More Than A Bounce Bitcoin’s short-term recovery gives bulls room to argue that sellers are losing control. But on-chain deposit pressure complicates that argument.

A healthy rebound usually wants to see coins moving away from exchanges, not toward them. It wants accumulation, calmer leverage, and improving flows. If deposits keep rising, traders may stay defensive even while price holds above recent lows.

The next phase will depend on whether those deposited coins become sell pressure. If Bitcoin absorbs the inflows and holds its recovery, that would be a constructive sign. It would show that the market can handle supply without breaking.

If price rolls over while deposits remain elevated, the CryptoQuant warning will look more serious.

For now, this is not a panic signal. It is a caution flag. Bitcoin has bounced, but the market is still loaded with enough exchange-side activity to make the next move sharp.

This report is based on information from CryptoQuant.

The practical takeaway is that traders should avoid reading the current rebound in isolation. A market can look stable on the surface while exchange-side liquidity is preparing for a larger move. That is why deposit data belongs next to ETF flows, funding conditions, and spot support levels when assessing Bitcoin risk this week.

This article was written by the News Desk and edited by Samuel Rae.

Bitcoin Options Turn Call-Heavy Before July 8 FOMC Minutes: Will BTC Break $63,000?

Bitcoin rebounded sharply on Saturday, July 4, climbing above $63,000 and making up for the losses seen at the end of June. The leading cryptocurrency gained 1.4% over the past 24 hours, bringing its weekly increase to 3.6%. Trading volume was relatively muted due to the US Independence Day holiday, but the price action marked Bitcoin’s strongest performance in the past two weeks.

Spotlight on market shiftsAmong major digital assets, XRP delivered the standout performance. The token surged 5.3% in the last 24 hours to reach $1.18, pushing its seven-day gain close to 10%. This rally drove XRP’s market capitalization to approximately $73 billion, allowing it to overtake stablecoin USDC and claim the fifth spot among the world’s largest digital currencies.

Ethereum also posted robust gains, jumping 3.2% during the day to roughly $1,793. Its value increased 11.5% for the week. Meanwhile, Solana traded around $82.50 with a weekly gain of 13.2%, and Dogecoin rose 2.6% over the same timeframe.

Macro drivers of the rallyA combination of macroeconomic catalysts contributed to the recent recovery. US Federal Reserve Chairman Kevin Warsh indicated that inflation pressures are receding, while weaker-than-expected June employment data further reinforced the view of easing economic strains. The price surge also forced traders with bearish positions to close out, accelerating the upward momentum.

Analyst Ted Pillows noted that Bitcoin is approaching a critical resistance level, and a decisive move above $62,800 could propel the price toward $65,000.

According to analytics firm Santiment, Bitcoin has risen 6.1% since June 30, while gold increased 4.8% and the S&P 500 index remained flat. Santiment highlighted that, after a prolonged period of market uncertainty, ETF outflows, and weak investor sentiment, buyers returned to support key price levels. The company is known for its on-chain analytics and sentiment data focused on the crypto industry.

What on-chain metrics revealData from CryptoQuant shows that Bitcoin’s realized profit and loss ratio dropped to -0.35, its lowest level in 43 months. The last time this indicator reached similar territory was following the FTX collapse in December 2022, when Bitcoin fell below $16,000.

Glossary: The realized profit and loss ratio measures whether coins being transferred on-chain are being sold for a profit or a loss. Negative values indicate a dominance of loss-making sales, which historically have marked local market bottoms.

CryptoQuant emphasized that this metric has signaled cycle lows for Bitcoin in the past. Comparable readings were observed in 2015 and 2019, each time preceding significant upward movements in the price.

Matt Hougan, Chief Investment Officer at Bitwise, commented that the recent STRC preferred share liquidation, which was triggered by Strategy, has effectively cleared excessive leverage from the market, bringing it closer to a true bottom.

Adam Livingston, an analyst at Swan, pointed out that Bitcoin is trading just 16% above its realized price. Historically, reaching this threshold corresponded to forward returns averaging 41% over six months and 81% over a year. After dropping to $58,190 on June 25, Bitcoin began its latest rebound. Notably, the asset entered the third quarter about 50% below its record peak of $126,080 reached last October.

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.

A short message from Satoshi Nakamoto, sent exactly 16 years ago, unexpectedly exposed Wall Street's main dead end with Bitcoin today. On July 5, 2010, the creator of the original cryptocurrency, while discussing the technical release of beta version 0.3 on the BitcoinTalk forum and debating pricing, left a phrase that became prophetic for the entire financial world:

"Sorry to be a wet blanket. Writing a description for this thing for general audiences is bloody hard. There's nothing to relate it to."

Sixteen years later, this long-forgotten remark resonated with reality, as big business acknowledged that Bitcoin had finally outgrown familiar economic frameworks. Attempts to measure it through old categories — such as volatile "tech stocks" or classic defensive "digital gold" — repeatedly leads to a dead end.

HOT Stories

Satoshi Nakamoto's message on 5 July 2010 regarding the nature of Bitcoin, Source: BitcoinTalkIn particular, Michael Saylor, in his latest manifesto, refused to measure the asset by old templates and offered a new, concise definition — "digital capital".

In his original message, Nakamoto separately emphasized that Bitcoin's value could not be rigidly tied to the cost of electricity, as "It's not stable with respect to energy. It's not tied to the cost of energy."

Even then, the creator of the network indicated that the asset's final form would be shaped solely by market forces.

Why Bitcoin Should Be Measured Only by Its Own RulesToday, as Bitcoin holds near $63,000, Satoshi's 16-year-old definitional challenge has become a basic property of the market. The same uniqueness that made it difficult for Nakamoto to describe the code in simple words has become a practical reality for funds.

You Might Also Like

Instead of comparisons with Apple shares or gold bars, the market has moved to the pure mathematics of the protocol. Capital inflows are now calculated directly against the hard limit of 21 million coins, network stability is measured by record hashrate levels, and long-term value is judged by the issuance schedule embedded in the code — one that cannot be changed for the benefit of regulators.

In this context, Satoshi was right, and Bitcoin remains relevant because it has to play only by its own rules.

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.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

TLDR: Bitcoin protocol changes must secure overwhelming network agreement, Michael Saylor said, framing hard consensus as Bitcoin’s core defense layer. Saylor said fees price block space, nodes set policy, miners build blocks, and holders allocate capital across the Bitcoin network. Bitcoin traded near $63,000 after ETF inflows returned, giving BTC fresh support after a difficult stretch of market outflows. Options positioning still points to caution, with traders watching the $66,000 to $68,000 zone as a possible resistance area. Bitcoin protocol changes need overwhelming alignment before gaining traction, Michael Saylor said in a fresh post on X. The Strategy chairman described hard consensus as Bitcoin’s “immune system,” arguing that weak ideas fail before reaching the protocol layer. 

His comments came as BTC traded near $63,000, with the market recovering after renewed spot Bitcoin ETF demand. Current market data showed Bitcoin around $62,956, while U.S.-listed spot Bitcoin ETFs recently added $221.7 million in net inflows.

Bitcoin Protocol Changes Face a High Consensus Bar Bitcoin protocol changes rarely move through the network without wide agreement. Saylor said transaction fees price block space, nodes set policy, miners build blocks, and holders allocate capital. That structure spreads power across several groups instead of one central authority.

Hard consensus is Bitcoin’s immune system. Fees price block space. Nodes set policy. Miners build blocks. Holders allocate capital. Protocol changes must earn overwhelming alignment, so bad ideas fail before becoming iatrogenic protocol changes. $BTC

— Michael Saylor (@saylor) July 5, 2026

The message focused on Bitcoin consensus rather than short-term price action. Saylor argued that every major change must earn support from participants who protect different parts of the system. In that view, the network rejects risky changes before they damage Bitcoin’s base rules.

This point matters as debates around scaling, fees, custody, and institutional adoption return to the market. Bitcoin protocol changes often attract attention when fees rise or when developers discuss upgrades. Yet Saylor’s view places durability above speed.

The argument also reflects Bitcoin’s long-standing governance model. Developers can propose code, but users and node operators decide what rules they accept. Miners can build blocks, yet they cannot force users to follow unwanted rules.

For holders, the appeal sits in predictability. Bitcoin’s fixed supply, settlement rules, and conservative upgrade culture support its store-of-value narrative. A fast-moving protocol may attract experiments, but Bitcoin relies on slow and broad agreement.

BTC Price Holds Near $63K as Options Cap Upside Meanwhile, BTC price action added another layer to the story. Bitcoin moved back near $63,000 after ETF inflows ended a 10-day withdrawal streak. The inflow figure gave traders a cleaner demand signal after weeks of pressure.

Source: Coingecko The macro backdrop also helped risk assets. Weaker U.S. jobs data reduced pressure around rate expectations, while a softer dollar gave Bitcoin room to rebound. Still, derivatives data showed traders were not fully chasing upside.

Options positioning points to a key zone near $66,000 to $68,000. According to Laevitas data, a large July 17 BTC call-condor trade profits most if Bitcoin sits inside that range. 

That setup does not guarantee resistance, but it can shape short-term positioning. Traders often watch large options structures as price moves toward expiration. A clean break above $68,000 would weaken that ceiling.

For now, Bitcoin consensus and market structure are moving through separate lanes. Saylor’s comments focus on the protocol’s defense against harmful changes. Traders are watching ETF flows, options hedges, and whether BTC can hold above $62,000.

The pain for Bitcoin [BTC] bulls may be nearing its end.

Notably, Bitcoin’s latest on-chain data suggests the market is entering the final stage of its bearish phase. During this period, investors typically realize heavy losses as they sell below their cost basis. As this selling pressure fades, Bitcoin has historically found a bottom before rebounding.

Supporting this view, Bitcoin’s Realized P/L Ratio has fallen to -0.35, its lowest level in 43 months. The indicator measures realized profits against realized losses. A deeply negative reading shows that losses are dominating, signaling widespread capitulation. In previous market cycles, similar levels have often coincided with major Bitcoin bottoms, making the metric a closely watched signal for long-term investors.

Source: CryptoQuant The shift in ETF flows also supports this view, suggesting that selling pressure may be easing. 

In the latest trading session, U.S. spot Bitcoin ETFs recorded $223 million in net inflows, marking a return of institutional demand after recent outflows. Most of the capital flowed into FBTC, which attracted $166 million, followed by ARKB with $91.8 million, indicating that investors are once again allocating capital to BTC through regulated investment vehicles.

This supports the view that Bitcoin may be entering the final stage of its bear cycle. While on-chain data still shows elevated unrealized losses, the return of ETF inflows indicates demand is starting to match supply. If this trend holds, Bitcoin’s $60k support could strengthen, improving the chances of a recovery in Q3. 

However, one key metric highlights that the recovery is not yet fully supported. 

Bitcoin’s recovery hinges on whether liquidity can catch up The market continues to face a liquidity constraint.

In a typical bull market, stablecoin supply expands as new capital enters the crypto ecosystem. That additional liquidity increases buying power, helping absorb selling pressure and sustain higher prices.

This time, however, the pattern is different. Despite the return of ETF inflows, liquidity continues to contract, with $1 billion+ leaving the market this week alone. Over the past thirty days, the market cap of USDC and USDT have fallen by 3.6% and 2%, respectively, extending a trend that has persisted since November 2025. The divergence suggests that while demand is improving, the market liquidity is not.

Source: CryptoQuant This makes Bitcoin’s leverage profile increasingly important.

Following the recent deleveraging event, Bitcoin has re-entered the “slight leverage” zone, indicating that traders are rebuilding leveraged positions as confidence in a market bottom grows. However, leverage is increasing while market liquidity continues to contract. 

If stablecoin liquidity continues to decline, there may not be enough spot demand to support the rally. Therefore, Bitcoin could become more vulnerable to a liquidation-driven correction as leveraged positions build.

As a result, Bitcoin’s Q3 rally could struggle to sustain its momentum, leaving it exposed to sharp pullbacks.

Final Summary Bitcoin’s bottom signals are improving as ETF inflows return and on-chain metrics point to easing selling pressure. Weak liquidity remains the biggest risk. If stablecoin flows don’t recover, Bitcoin’s Q3 rally could struggle to hold its momentum.

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.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

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.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Cover image via depositphotos.com 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.

Bitcoin's four-year cycle, tied to the halving and retail demand, is no longer the dominant market model, said Strategy chairman Michael Saylor as he published an analytical breakdown that broke down how the cryptocurrency is moving into the status of "digital capital", now dependent on large institutional inflows.

According to the head of the largest corporate holder of the cryptocurrency, the reduction of coin issuance by miners has lost its former importance. The well-known investor now names new sources of demand as the main market driver. Bitcoin's trajectory is now shaped by large capital flows:

Spot Bitcoin ETFs and equity-market derivativesCorporate treasuries of public companiesSovereign funds and state reservesInterbank credit and collateral instrumentsSaylor emphasizes that the market has become too liquid for the old retail-driven cycles. "This is the next phase of Bitcoin adoption: not just more buyers, but more balance sheets," the top executive stated.

HOT Stories

You Might Also Like

He also notes that, unlike IT companies that operate on the principle of rapid development, Bitcoin's role is to ensure the stability of the base layer. According to the author's forecast, over the next ten years the protocol will become even more conservative, serving as a platform for large final settlements.

Code changes will become rare because of strict consensus among participants, while technological solutions such as the Lightning Network or sidechains, in the speaker's view, will ultimately move to the periphery of the system.

Threat of "paper Bitcoin"At the same time, the billionaire draws an analogy with gold and real estate, which unlocked their financial potential only after the emergence of credit markets. According to the MicroStrategy founder, a similar digital credit industry is now forming around Bitcoin, connecting it with the traditional economy.

However, Saylor also sees this as the main risk of the decade: the emergence of "paper Bitcoin," where intermediaries create more debt claims than are backed by real coins. Under these conditions, the Strategy chief names custodian transparency and proof of reserves as the key factors for investor security.

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.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Ledger co-founder Eric Larchevêque said a future where Bitcoin trades at $1 million, or even $10 million, may not be a healthy one. Wu Blockchain reported that he made the comments in a June 25 interview with When Shift Happens.

Summary

Larchevêque framed $1m Bitcoin as a stress signal, not just another bullish market price target. He said Bitcoin matters more when banks, currencies and governments fail to protect personal wealth. Crypto.news reports show debt fears, ETF flows and macro pressure still shape Bitcoin demand Larchevêque linked a high Bitcoin price to stress in the global money system. He said such a world may include wars, fiat currency failures, debt problems and social unrest. His message was not a simple bullish Bitcoin price call.

https://x.com/WuBlockchain/status/2073482161425109085

He said “a world where Bitcoin reaches $1 million or even $10 million may not be a good one.” The comment placed the Bitcoin $1 million debate in a wider macro setting, where price gains may reflect fear as much as demand.

Bitcoin as a final settlement asset Larchevêque said Bitcoin has little use in a perfect world because people would not need it. In his view, Bitcoin becomes more important when trust in banks, currencies and governments weakens.

He described Bitcoin as a final settlement asset and a tool for wealth protection. That view matches a common Bitcoin argument: users value direct ownership most when access to money becomes uncertain.

He also said Bitcoin does not mean the same thing to everyone. For people in Iran and France, he said, the asset carries different meanings because local risks are different.

Ledger’s background gives the comments added weight in the crypto custody debate. Larchevêque co-founded Ledger in 2014, while Pascal Gauthier later became CEO.

Crypto.news links debate to debt pressure The comments came as crypto.news reported on similar Bitcoin and macro themes. In a recent report, Bitwise linked Bitcoin demand to rising debt pressure and bond market stress.

That report said Bitwise sees sovereign debt concerns as part of the case for Bitcoin. It also noted that global borrowers face a heavy refinancing calendar in 2026, which could keep attention on fiat liquidity and central bank policy.

Crypto.news also reported that CZ still sees Bitcoin reaching $1 million over the next decade. His view came even as U.S. spot Bitcoin ETFs saw outflows and Bitcoin tested key price levels.

This creates two different readings of the same target. Some market figures treat $1 million Bitcoin as a long-term adoption case. Larchevêque presented it as a warning about the state of fiat money.

ETF flows keep market cautious Bitcoin has also faced near-term pressure from exchange-traded fund flows. Crypto.news reported that U.S. spot Bitcoin ETFs saw heavy outflows in June, even while large wallets accumulated around 270,000 BTC.

That split shows a market moving in different directions. ETF investors reduced exposure, while large on-chain holders added Bitcoin during weakness. The gap has kept attention on whether institutional demand can return.

Crypto.news also reported that Bitcoin rebounded near $61,700 after ETF inflows ended a 10-day negative streak. Analysts in that report said BTC needed to reclaim $62,800 and $65,000 to confirm a stronger recovery.

At press time, Larchevêque’s comments add a cautious angle to the Bitcoin $1 million discussion. The price target remains popular, but his view suggests that a fast move to that level may say more about fiat risk than crypto strength.

June 2026 was the worst trading month for BTC since... June 2022.

2026 hasn’t been bitcoin’s year so far, with the asset posting four (out of six) months in the red. June stands out as the most painful, setting a four-year anti-record.

However, history is on BTC’s side for July, and its start has been quite promising. The question is whether the asset will be able to follow through in the following weeks.

June Bad, July Good? Before we explore what happened in June, we must go back to the breaking point in May. In the middle of that month, BTC’s price surpassed $82,000, prompting many analysts to speculate that the asset had erased much of its yearly losses and had kickstarted the next bull run.

However, the reality was different as the rejection at that level poured more fuel into the ‘sell in May and go away’ narrative. The culmination took place in June as the cryptocurrency plummeted below $70,000 and even beneath $60,000 on a few occasions for the first time since before the US presidential elections in late 2024.

After losing roughly $25,000 in weeks, BTC finally showed some early signs of revival and regained some traction by the end of the month. However, it still finished it with a 20.5% drop, making it the worst since June four years ago.

Bitcoin Monthly Returns. Source: CoinGlass The chart above demonstrates that July tends to be a more favorable month for BTC, as nine out of the last 13 editions have brought gains. Moreover, each July that has followed a red June has been in the green.

The Factors The 2026 edition has started on the right foot, with BTC tapping $63,000 this weekend. However, several factors have to improve in the following weeks for the month to finally provide a well-deserved break. First, the record-setting net outflows from the spot Bitcoin ETFs have to stop, which have been halting BTC’s progress for months now.

You may also like: June 2026 Market Recap: Bitcoin Hits 2-Year Low as ETFs Bleed $8.9B Bitcoin (BTC) Flashes 3 Bullish Signals: $65K Incoming? Bitcoin Reclaims $60K as SOL, BCH Lead Alts Higher (Market Watch) Second, recent on-chain data showed that real demand from US (and even Korean) investors has been missing, proven by the Coinbase Premium metric. On a more macro level, a potential de-escalation (or a permanent peace deal) in the Middle East would definitely help, as would clearing up the uncertainty around the midterms in the US.

Topping this more positive side, bitcoin recently flashed a few bullish signals after it rebounded past the coveted $60,000 level, and analysts are now eyeing the next major breakout.

Rekt Capital also weighed in on BTC’s performance in July, suggesting that the cryptocurrency will look to turn the 50-Month EMA (at around $65,000) into resistance.

#BTC

It’s Green July and history suggests Bitcoin will be looking to turn the 50-Month EMA (purple) into new resistance$BTC #Bitcoin https://t.co/5JhfpTAvtn pic.twitter.com/Zn3KEAeKqI

— Rekt Capital (@rektcapital) July 4, 2026

Tags: