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Metaplanet, a publicly traded company based in Japan, continues to grow its Bitcoin investments. In its latest announcement, the company stated that it purchased an additional 2,823 Bitcoins. With this latest purchase, Metaplanet’s total Bitcoin holdings have risen to 43,000 BTC.

The company’s announced new purchase once again demonstrates the continuing trend of institutional companies viewing Bitcoin as a reserve asset. The recent addition of Bitcoin to the balance sheets of several publicly traded companies, in particular, reinforces the view that institutional adoption is strengthening in the cryptocurrency market.

Metaplanet has become one of the companies that has stood out in recent months with its Bitcoin-focused strategy. The Japanese company positions digital assets as a long-term treasury management tool, steadily increasing its total reserves through regular purchases. The recent purchase of 2,823 BTC is seen as a continuation of this strategy.

Metaplanet’s total holdings reaching 43,000 BTC make it more prominent among institutional Bitcoin investors. This move by the company demonstrates that Bitcoin is being adopted as a strategic asset not only by individual investors but also by publicly traded companies and institutional actors.

Market experts note that while such purchases may not have a direct, significant impact on the Bitcoin price in the short term, they send important signals supporting institutional confidence in the long term. In particular, the inclusion of Bitcoin in the reserve management of large-scale companies is seen as a development that strengthens the leading cryptocurrency’s position in the traditional financial world.

Analysts say Metaplanet’s latest move reflects the company’s long-term optimistic outlook on Bitcoin, and that similar purchases could increase across the market if institutional demand continues.

*This is not investment advice.

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How Public Listings Change Crypto Companies

Metaplanet, Japan’s most prominent publicly traded Bitcoin treasury company, pulled in $10.75 million in revenue from its Bitcoin income business during the second quarter of fiscal year 2026. That figure, announced on July 2, lands right in line with the company’s own forecast of roughly $11 million.

The Bitcoin income operation now represents the core of Metaplanet’s entire revenue engine. The Bitcoin income business launched in Q4 2024.

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How Metaplanet actually makes money from Bitcoin Metaplanet generates revenue primarily through premiums collected from cash-secured Bitcoin options. The company sells options contracts on its Bitcoin holdings, collecting fees (premiums) from buyers regardless of whether those contracts are exercised.

This strategy drove 95% of the company’s revenue growth in FY2025, according to the company’s disclosures.

The bigger picture: full-year guidance and Bitcoin ambitions Metaplanet’s guidance for the full fiscal year 2026 projects total revenue of approximately 16 billion yen, which translates to roughly $103 to $104 million. Operating profit is expected to land around 11.4 billion yen, or about $73 to $74 million. The vast majority of that revenue is expected to come from the Bitcoin income segment.

As of March 31, 2026, Metaplanet held 40,177 BTC on its balance sheet. The company has publicly stated its goal of holding more than 100,000 BTC by the end of 2026 and is targeting 210,000 BTC by the end of 2027. 210,000 BTC represents 1% of Bitcoin’s total fixed supply of 21 million coins.

Diversifying beyond options premiums In June 2026, the company acquired Siiibo Securities for approximately 2.1 billion yen, or about $13 million. The acquisition is designed to let Metaplanet offer Bitcoin-linked yield products to a broader investor base.

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

Key Highlights Bitcoin surged past the $60,000 mark, gaining 3% on Thursday following a challenging first half of 2026 The leading cryptocurrency dropped over 30% during the initial six months of 2026 American stock futures declined, with Nasdaq futures experiencing the steepest losses at 0.7% Korean semiconductor giants SK Hynix and Samsung tumbled more than 14% and 9% respectively amid widespread chip industry decline Market attention centers on the June employment report, forecasted to reveal 115,000 new positions The flagship cryptocurrency recovered above the $60,000 threshold on Thursday, offering digital asset investors a welcome reprieve following a punishing start to the year.

Bitcoin (BTC) Price The premier digital currency exchanged hands near $60,499, registering approximately 3% growth during early market hours. This uptick follows a devastating decline exceeding 30% across the year’s first two quarters, marking one of its most severe six-month downturns in recent history.

The rebound materialized as market participants prepared for the June American employment data release, scheduled for 8:30 a.m. Eastern Time. Projections indicate the economy generated 115,000 new positions in June, while the jobless rate is anticipated to remain unchanged at 4.3%.

Employment Figures Command Market Attention Federal Reserve Chairman Kevin Warsh contributed to the measured market sentiment earlier this week. He acknowledged diminishing inflation pressures but emphasized his commitment to achieving the Fed’s 2% inflation objective. He further indicated he would “disappoint” those anticipating accommodative monetary conditions.

BIG POSITIVE signal from the Federal Reserve

Fed Chairman Kevin Warsh stated that inflation risks have eased significantly in recent weeks, reaffirming the central bank’s commitment to price stability.

If inflation continues to cool, expectations of rate cuts could… pic.twitter.com/4WcHeBgirE

— Yatin Mota (@yatinmota) July 1, 2026

Reduced borrowing costs typically benefit speculative investments like digital currencies, prompting traders to scrutinize employment figures for indications that rate reductions might return to consideration.

Warsh directed markets to examine economic indicators rather than Fed commentary for insights into future rate trajectories. This guidance placed Thursday’s employment data at the forefront of investor focus.

Bitcoin has faced headwinds throughout much of 2026. Weakening institutional appetite, stagnant advancement on American cryptocurrency regulation, and ambiguity surrounding US-Iran diplomatic efforts have collectively pressured valuations.

Digital asset markets have also exhibited stronger correlation with technology equities and general risk assets this year. This connection was evident Thursday as both cryptocurrencies and traditional stocks experienced concurrent downward pressure.

Equity Markets Retreat as Semiconductor Sector Weighs Heavy American equity futures declined uniformly on Thursday. Nasdaq 100 futures surrendered 0.7%, S&P 500 futures retreated approximately 0.3%, and Dow futures slipped 0.2% lower.

E-Mini S&P 500 Sep 26 (ES=F) The technology sector encountered additional headwinds following a dramatic selloff in South Korean semiconductor equities during overnight trading. The Kospi benchmark plunged 7.9%.

SK Hynix plummeted beyond 14% while Samsung declined over 9%. Samsung’s recent announcement of substantial AI infrastructure investment amplified anxieties regarding expenditure levels and profitability within the chip industry.

The deterioration in Korean chipmaker valuations came on the heels of a comprehensive semiconductor sector decline on Wednesday across American exchanges.

Notwithstanding Thursday’s recovery, Bitcoin continues trading substantially beneath its peak levels. Market observers suggest institutional capital movements and macroeconomic indicators will maintain their influence on price direction throughout the immediate term.

The employment report could establish the prevailing sentiment for both equities and cryptocurrencies entering the summer months.

A notable assessment has emerged suggesting that the downturn in the Bitcoin market may end this month, and the leading cryptocurrency could re-enter an upward trend. Andre Dragosch, Head of Research at Bitwise Europe, stated that under current conditions, the bottom for Bitcoin could be reached sooner than the general market expects, potentially paving the way for a new bull cycle.

According to Dragosch’s assessment, a strong rebound, particularly in semiconductor sector stocks, could be a significant catalyst not only for technology markets but also for crypto assets.

According to the analyst, a strong rally in semiconductor stocks from current levels could increase the likelihood that the US Federal Reserve (FED) will adopt a more dovish stance in monetary policy. This could ease pressure on risky assets and pave the way for assets like Bitcoin to regain strength.

While the prevailing market view is that Bitcoin will bottom out in October, Dragosch argues that this timeline could be brought forward. According to the research director, it is highly likely that Bitcoin will bottom out and begin to recover this month.

Experts point out that the Fed’s interest rate policy, global risk appetite, and the performance of technology stocks have recently become more closely linked to Bitcoin price movements. In particular, changes in liquidity conditions and investors’ willingness to move towards risky assets are considered among the main factors determining the short-term direction of the crypto market.

Andre Dragosch’s assessment has revived optimistic expectations for the second half of the year in the market, suggesting that this month could be a critical turning point for Bitcoin investors. However, analysts emphasize that despite a possible recovery scenario, macroeconomic data, Fed messages, and global market conditions should be closely monitored.

*This is not investment advice.

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10h39 ▪ 7 min read ▪ by Ghiles A.

Summarize this article with:

Research on cryptocurrency forecasting models takes a new step. A study published in a scientific journal now recognizes the robustness of a theory developed over more than ten years called the “Power Law.” Bitcoin thus becomes the focus of a mathematical analysis based on a power law linking price evolution to network growth. This validation by independent reviewers marks a turning point for a model long debated within specialized communities.

In brief Bitcoin’s Power Law obtains scientific validation after its publication in an Elsevier academic journal. Giovanni Santostasi’s model links Bitcoin network growth to its long-term price evolution. The study analyzes 5,696 daily data points and explains about 96% of historical price variations. Researchers identify several signals capable of indicating a possible break in the mathematical trend. The current bear market represents the first major test to verify the robustness of the peer-reviewed model. Bitcoin’s Power Law Obtains Scientific Validation After Several Years of Research The Bitcoin Power Law model is based on a simple idea: price growth follows a mathematical trend linked to network expansion. The model advocated by physicist Giovanni Santostasi describes a regular relationship between gradual adoption and value evolution. The recent publication in Elsevier’s Nonlinear Science journal confirms that this approach has a recognized scientific basis. The study appeared online on June 29 and presents a detailed analysis of several years of data.

Santostasi first presented this theory in 2014 on Reddit. At the time, he noticed that bitcoin price followed a particularly stable line when using a logarithmic scale. For several years, this observation circulated mainly within cryptocurrency community spaces. Later, the researcher developed his approach in an article published on Medium in 2024 to further present his arguments.

The theory long faced criticism, with some observers believing it was only a statistical fit. However, Santostasi and his co-author Stephen Perrenod submitted their work to independent scientific review. The journal eventually accepted their study after examining the proposed model. This step now distinguishes this approach from other popular charts based solely on historical trends.

Before this publication, several analyses had already studied the link between network size and the value of a digital asset. Previous works notably examined the influence of the number of users on market progression. However, these studies mainly used adjustments to existing data rather than a genuine mathematical model capable of anticipating future evolution.

Santostasi and Perrenod’s goal was to bridge this gap. Their approach seeks to explain why certain growth phases occur according to a regular structure. They explain that two main mechanisms support this dynamic. First, new users gradually join the network in successive waves.

Second, each newcomer increases the overall value of the network by creating more connections with existing participants. This logic aligns with some principles used to analyze network effects. The authors indicate that this combination explains much of the evolution observed since the early years. The study attributes about 96% of long-term variations to this mathematical curve.

The Study on Power Law and Bitcoin Reveals Strong Statistical Stability Researchers analyzed 5,696 daily prices between July 2010 and February 2026. The presented model shows that a power curve remains close to historical data over a long period. According to their calculations, the gap between the model’s prediction and the measured value remains below 1.6%. This accuracy applies only to the studied period and does not guarantee future performance.

The analysis also highlights that bullish and bearish cycles remain compatible with this general trend. Previous bear markets did not cause structural breaks in the model. Significant fluctuations thus appear as movements around a main trajectory. This observation strengthens the scientific interest in this approach.

However, the authors also presented several factors capable of invalidating their theory. Among them are:

Violation of the floor threshold (F1): the price stays more than a year below the trend, with a deviation greater than three standard deviations. In 2025, this threshold was around $10,000. Collapse of adoption (F2): Address growth slows sharply, especially if a competing network attracts new users. Exponent drift (F3): the growth coefficient sustainably leaves the range between 5.0 and 7.0. Metcalfe break (F4): the link between price and the number of active addresses disappears, with a correlation coefficient below 0.7. Collapse of R² (F5): the moving fit of the power law falls below 0.80 for two consecutive years. These criteria allow monitoring for potential future breaks. The model thus remains subject to specific verification conditions.

The Current Bear Market Represents the First Real Test of the Model The Bitcoin price currently trades around $60,000, representing a 43% decrease over the past year and a 52% drop from its October 2025 record of $126,080. The data used in the study ends in February 2026 and therefore does not fully account for the latest market decline. This situation creates a first real-life test for a theory recently recognized by the scientific community. Upcoming developments will show whether the trend maintains its coherence.

This period also raises questions around other analysis models. Some popular indicators faced difficulties during this decline. Approaches based on economic cycles or scarcity models also encounter new debates concerning their ability to explain recent movements.

Researchers remain cautious about future results and do not propose a precise price target. They only indicate that several signals could identify a potential break. Such signals include a sustained drop below the trend, loss of adoption, or a divergence between network value and its actual usage.

At this stage, Bitcoin’s Power Law thus constitutes a recognized scientific model but remains subject to future market tests. The publication provides a new analytical basis to understand the evolution of a digital asset marked by significant cycles. Monitoring the coming years will determine whether this mathematical structure retains its explanatory power.

The future will notably depend on the stability of adoption and users’ overall behavior. A lasting confirmation would strengthen academic interest in this approach, while a break would provide new elements to reassess the model. The BTC network will thus remain a major observation field for researchers studying links between technology, adoption, and economic dynamics.

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Ghiles A.

Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.

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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.

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It's getting harder for bulls to defend XRP's chart. The asset continues to print lower highs and lower lows following months of continuous selling pressure, maintaining the overall downtrend. Is a significant reversal even feasible at this point? The most recent move below the crucial support zone around $1.30 has only strengthened pessimism. 

XRP just finished breaking down from a descending triangle formation that had been forming since March, according to the daily chart. These patterns usually indicate that the market will continue to decline, and it has done so nearly flawlessly. XRP lost another significant support cluster after the breakdown, and it is currently trading close to $1.05, one of its lowest points of the year. The moving averages show a similar pessimistic outlook. 

XRP/USDT Chart by TradingViewXRP is still below the downward-sloping 50-, 100-, and 200-day moving averages. This alignment indicates that sellers maintain control over both near-term and long-term periods. The 200-day moving average, which is currently close to $1.51, is particularly significant because it indicates the level that XRP must recover before any meaningful conversation about a trend reversal can start.

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Not much encouragement has come from volume either. Buying activity has been comparatively muted, despite sporadic spikes during selloffs. This implies that market participants are still reluctant to make aggressive purchases, despite the significant drop from earlier highs. 

The Relative Strength Index is the only positive indicator for bulls. The RSI is getting close to oversold territory at 35. Such readings have historically preceded short-term relief rallies, especially if sentiment in the cryptocurrency market as a whole improves. However, oversold conditions alone rarely reverse a significant trend. 

Bitcoin makes a moveThe recent price movement of Bitcoin indicates that the market is still having difficulty finding a stable bottom. Following its inability to sustain momentum above important moving averages in May, Bitcoin started a new downward trend that has moved it closer to the lower end of its current trading range. A move toward $52,000 cannot be ruled out based on the technical structure seen on the daily chart. 

BTC/USDT Chart by TradingViewFor bulls, the total loss of trend support is the most alarming development. The 50-day, 100-day, and 200-day moving averages of Bitcoin are currently below $63,000, $68,000, and $76,000, respectively. This alignment supports a very pessimistic market structure. Over the past few months, every attempt at recovery has failed to reach the longer-term trend indicators. 

Upon closer examination, it can be seen that BTC recently broke down from a rising channel that had formed between April and May. What at first appeared to be a recovery phase turned out to be a typical bear-market rally. Sellers swiftly regained control and accelerated the decline after the channel's support failed. 

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The bearish narrative is further supported by volume behavior. The biggest spikes in recent weeks have coincided with selloffs rather than recoveries, suggesting that sellers are more confident than buyers. After Bitcoin briefly touched the low $60,000 region, there was some dip-buying activity, but demand was insufficient to buck the trend. The next significant support zone is located between $57,000 and $58,000. 

At the moment, Bitcoin is testing that level. If it breaks decisively, the market may start aiming for the $52,000 area, which is the next significant historical support level and a place where buyers have previously intervened forcefully. One factor prevents a scenario of complete collapse. 

With a reading of about 35, the Relative Strength Index is still close to oversold territory. Such conditions frequently result in temporary relief rallies. However, oversold readings during established downtrends usually lead to brief bounces rather than long-lasting reversals.

Ethereum stays relevantEthereum is far from being forgotten by the market, even after months of disappointing price movement and increasing competition from other networks. Although ETH has substantially underperformed relative to its historical benchmarks, the chart indicates that investors are still closely monitoring the asset, even as it remains caught in a broader bearish trend.

ETH/USDT Chart by TradingViewAfter yet another unsuccessful attempt at recovery, Ethereum is currently trading close to $1,600. According to the daily chart, the asset recently broke down from a descending wedge-like formation that developed between April and May. The pattern resolved to the downside rather than initiating a sustained breakout, pushing ETH back toward local lows and bolstering sellers' dominance. 

The technical picture remains challenging. Ethereum is currently trading below the 50-day, 100-day, and 200-day major moving averages. While the 100-day and 200-day averages at $1,850 and $2,280, respectively, continue to be significantly above current price levels, the 50-day moving average at $1,690 has served as immediate resistance. The overall trend remains negative until ETH begins reclaiming these levels. 

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However, market behavior refutes the notion that Ethereum has completely lost relevance. Every significant drop attracts buyers who are prepared to step in near support areas, and volume remains relatively steady. The market isn't actively accumulating ETH, but it isn't abandoning it either. The Relative Strength Index is another factor that supports that view. 

The RSI is close to 38, which indicates weakness but not total capitulation. Major bottoms in the past frequently occurred when traders became far more pessimistic than current conditions suggest. Put another way, despite the prolonged correction, there is still active participation in the asset. 

Reclaiming the $1,690 area is Ethereum's primary goal from a technical standpoint. The 100-day moving average around $1,850 would come back into focus if that level were breached. If buyers are able to overcome both obstacles, sentiment may improve significantly. Ethereum remains under pressure, but it is still a major player in the market. 

The crypto market bounced today after Bitcoin reclaimed the $60,000 level, lifting the total crypto market by nearly $50 billion in about 90 minutes. The move came after improving macro sentiment, strong technical support, and renewed buying across major cryptocurrencies, even as institutional demand remains weak.

What Triggered Today’s Rally?The biggest boost came after comments from former Federal Reserve Governor Kevin Warsh at the ECB Forum in Sintra.

Warsh said inflation is still above target, but it showed the four straight quarters of AI-driven productivity gains. If productivity continues improving, it could eventually give the Federal Reserve more room to cut interest rates.

Although Warsh is no longer a Fed policymaker, markets viewed his comments as a positive signal for future monetary easing. Lower interest rates generally increase demand for risk assets, helping fuel buying across Bitcoin, Ethereum, and the broader crypto market.

Bitcoin Led the RecoveryBitcoin climbed around 3%, moving back above $60,000 and adding roughly $36 billion to its market value.

Ethereum followed with gains of more than 3%, while most major altcoins also traded higher as confidence returned across the market.

The total crypto market capitalization climbed back above $2.1 trillion, marking one of its strongest intraday recoveries in recent weeks.

Also Read: Bitcoin Q3 2026 Roadmap: July Bounce, Brutal August, Then the Final Low Near $39,000

Altcoins Join the Party Altcoins joined Bitcoin’s recovery with several tokens posting strong gains over the past 24 hours. Solana (SOL) climbed 6.05%, XRP climbed 1.38%, while Cardano saw a 2.61% jump. 

Technically, what is the scenario? From a technical perspective, the recovery has improved the short-term outlook.

Analysts are closely watching the $2.08 trillion level on the total crypto market cap chart. A breakout above that resistance could open the door toward $2.16 trillion, signalling stronger bullish momentum.

For Bitcoin, holding above $60,000 remains the key. If buyers maintain control, traders will likely target the next resistance zone around $62,000-$64,000. However, losing the $60,000 level could bring another test of support near $58,000.

Also Read : Exclusive Bitcoin Prediction: Bear Market in Final Phase, But Altcoins Won’t Move Until 2027

What For Bitcoin Price?While today’s rally has improved sentiment, investors remain cautious.

Spot Bitcoin ETFs continued to record net outflows this week, showing that institutional investors have yet to return aggressively. The latest outflows included $212.4 million from the iShares Bitcoin Trust (IBIT) and $10.2 million from the Fidelity Wise Origin Bitcoin Fund (FBTC). Citigroup also recently lowered its one-year Bitcoin price target, reflecting softer institutional expectations.

For now, traders will be watching upcoming U.S. economic data and any fresh signals from Federal Reserve officials. If expectations for rate cuts continue to strengthen and Bitcoin holds above key technical levels, the current rebound could extend further. 

But if macro conditions worsen or institutional selling continues, volatility is likely to remain high.

Story Ends Here

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Read the Next News

Key Takeaways Bitcoin’s fixed supply of 21 million coins positions it as a scarce digital asset with strong institutional support and ETF availability Ethereum functions as the foundation for decentralized finance, stablecoin infrastructure, and real-world asset tokenization via smart contracts The launch of spot Bitcoin ETFs simplified crypto access for mainstream investors seeking exposure without custody concerns Ethereum’s proof-of-stake transition dramatically reduced environmental impact while introducing staking yield opportunities Growing numbers of investors diversify across both assets, leveraging Bitcoin’s stability alongside Ethereum’s technological upside Heading into 2026, Bitcoin and Ethereum continue their reign as cryptocurrency’s leading assets — yet each presents distinctly different investment propositions.

Why Bitcoin Functions as Digital Gold Bitcoin operates under a rigidly enforced supply ceiling of 21 million coins. This programmatic scarcity has established it as one of the most limited assets across global financial markets.

Bitcoin (BTC) Price Institutional adoption has accelerated significantly. Corporate treasuries, retirement funds, and major investment firms now allocate capital to Bitcoin. The introduction of spot Bitcoin ETFs removed technical barriers, enabling conventional investors to participate without direct blockchain interaction.

Financial experts routinely draw comparisons between Bitcoin and precious metals. Should this analogy prove accurate, sustained institutional demand may provide ongoing price support.

Bitcoin encounters minimal competition within its niche. No alternative cryptocurrency has mounted a credible challenge to its status as the preeminent digital store of value.

For risk-averse portfolios, this unambiguous positioning and institutional validation establish Bitcoin as the more conservative option between the two.

Why Ethereum Represents Infrastructure Investment Ethereum derives value from network utilization. The platform underpins decentralized financial protocols, stablecoin issuance, tokenized securities, and countless developer-built applications spanning the globe.

Ethereum (ETH) Price Each transaction processed across these applications generates network fees. Increased usage directly correlates with heightened demand for Ethereum.

The transition to proof-of-stake slashed Ethereum’s environmental footprint. This upgrade simultaneously enabled staking mechanisms, permitting holders to generate yield by committing coins to network security operations.

Traditional financial institutions now pilot blockchain-based instruments including digital bonds and tokenized investment vehicles. Ethereum consistently ranks among the preferred platforms for these institutional experiments.

Advocates contend Ethereum should be evaluated as foundational technology rather than merely a speculative token. This perspective positions it in an entirely separate category from Bitcoin’s value proposition.

Ethereum confronts stiffer competition than Bitcoin does. Rival platforms such as Solana actively court developers and users seeking alternatives.

Bitcoin experiences no comparable competitive pressure. Its digital gold narrative remains essentially unchallenged across the cryptocurrency landscape.

Nevertheless, both assets have attracted substantial institutional investment. Both now feature prominently in corporate strategy discussions and regulatory policy debates.

Many sophisticated investors have abandoned the either-or framework. They maintain positions in both, deploying Bitcoin for capital preservation and Ethereum for exposure to blockchain infrastructure growth.

As of mid-2026, Bitcoin maintains superior standing regarding institutional legitimacy. Ethereum commands the largest total value locked across decentralized finance protocols compared to all competing blockchain platforms, based on current available metrics.

Leading cryptocurrencies ticked higher on Wednesday, while stocks retreated, as Federal Reserve Chair Kevin Warsh called inflation “too high.”

Crypto Market LiftsBitcoin broke past $61,000 in the evening, only to get rejected and drop back to $59,000. With trading volume spiking 11% over the past day, the struggle between bulls and bears continued.

Ethereum progressed to the mid-$1,600s before a pullback, while XRP and Dogecoin were also among the gainers.

Over $450 million was liquidated from the cryptocurrency market in the last 24 hours, with $279 million in short positions wiped out, according to Coinglass data.

Bitcoin’s open interest spiked 1.80% over the last 24 hours. BTC’s taker buy volume exceeded the sell volume over the last 24 hours, indicating a bullish sentiment in the market.

Retail and whale derivatives traders on Binance also remained bullish on the apex cryptocurrency.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.07 trillion, following an increase of 2.78% over the last 24 hours.

Stock Market Cools DownStocks eased on Wednesday after a recent surge in gains. The Dow Jones Industrial Average lost 13.96 points, or 0.03%, to close at 52,305.24. The S&P 500 fell 0.22% to end at 7,483.23, while the tech-heavy Nasdaq Composite slid 0.66% to close at 26,040.03.

Fed Chair Warsh said at an international conference that "prices are too high," but declined to comment on the central bank’s likely move in the July meeting.

The CME Group’s FedWatch tool showed markets pricing a 71% likelihood of the Fed keeping the rates unchanged in July, but nearly a 50% chance of a rate hike in September.

Seller Fatigue Setting In?Ali Martinez, a widely followed cryptocurrency analyst and trader, declared that the cryptocurrency market has reached its bottom, citing “buy” signals on the TD Sequential indicator for Bitcoin, Ethereum, XRP, and Solana.

The monthly chart suggests a coordinated macro reversal setup,” the analyst added. “Historically, when multiple assets lock in concurrent monthly buy signals, it indicates seller fatigue and a high probability of a long-term market bottom.”

Rekt Capital, another popular chartist, noted that Bitcoin’s monthly close below the 50-month exponential moving average, currently around $63,000, aligns with patterns observed in prior cycles,

“Generally, prices tends to lose the 50-Month EMA and then turn it into new resistance before additional downside over time,” the analyst said.

Photo Courtesy: KateStock on Shutterstock.com

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Updated Jul 2, 2026, 6:06 a.m. Published Jul 2, 2026, 5:22 a.m.

2 min read

Summary

Bitcoin climbed back above $60,000 after Fed Chair Kevin Warsh said inflation risks had eased, offering the crypto market its first clear boost in weeks.Solana led major tokens with a roughly 4% daily gain and about a 16% rise over the past week, while most other large cryptocurrencies were mixed.A sharp sell-off in semiconductor and AI-related stocks, driven by concerns over overbuilding and supply shifts, raised questions about whether money could rotate back from the AI trade into bitcoin and other risk assets.Bitcoin BTC$60,204.42 traded above $60,700 on Thursday after a quick overnight reversal after Federal Reserve Chair Kevin Warsh said inflation risks had eased, giving a market that spent most of June grinding lower its first clear lift in weeks.

Speaking at the European Central Bank's annual forum in Sintra, Portugal, on Wednesday, Warsh said "inflation risks have come down" while reaffirming the Fed's commitment to returning inflation to 2%.

He declined to signal what the central bank will do at its meeting later this month, saying policymakers would weigh incoming data first. Bitcoin pared earlier losses and pushed back above $60,000 after the remarks, according to CoinDesk reporting.

Solana led the majors. The token rose about 4% on the day to around $78 and is up roughly 16% over the past week, per CoinDesk data, the only large token with a meaningful weekly gain. Ether traded near $1,630, up about 3% on the day, while XRP held at about $1.06. BNB, dogecoin and Tron were softer over the week.

The bigger move was in stocks. A selloff in semiconductor shares spread to South Korea on Thursday, where the Kospi index fell almost 7% before paring losses. Samsung Electronics and SK Hynix each dropped more than 6%, and Kioxia fell 13% in Japan after a rally that had lifted the stock more than 650% this year.

The declines revived worries that this year's blistering run in artificial-intelligence stocks has outpaced reality.

Two reports fed the unease. Meta is building a cloud business to sell access to spare AI computing power, Bloomberg reported, raising concerns that the company had overbuilt. Apple is in talks to buy chips from two Chinese semiconductor makers, a move that would hurt Korean suppliers.

The AI trade is where money has flowed all quarter while bitcoin fell, giving the asset a rare back-to-back quarterly loss for only the third time in history. Capital rotated steadily into chipmakers and AI infrastructure as crypto closed a losing first half, so cracks there could ease the pull that has weighed on the market.

Elsewhere, Brent crude fell to about $70.60 a barrel, its lowest since late February, before the Middle East war began, as traffic through the Strait of Hormuz recovered.

Gold rose for a second day to trade above $4,060 an ounce after Warsh's comments, and the dollar steadied after two days of gains.

Whether bitcoin's reclaim holds depends on whether the AI wobble deepens into a rotation back toward risk or proves a one-day scare.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

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Less than a year ago, Empery Digital was buying Bitcoin by the hundreds of millions. Now it is considering selling some of that Bitcoin to fund a $65 million bet on AI infrastructure.

The company, which trades on Nasdaq under the ticker EMPD, announced on June 30 that it plans to acquire a 25% ownership stake in a newly formed entity focused on converting a Midwest industrial property into an AI data center. The deal is expected to close in Q3 2026.

What the deal actually looks like The facility already has 150 megawatts of power capacity in place, with room to scale to 300 MW.

Empery is partnering with Hunt Properties on the project, combining what the company describes as its capital markets expertise with Hunt’s background in power procurement and infrastructure development.

The financial structure is notable. The tenant of the AI data center will cover both build-out costs and operating expenses. Empery says long-term lease payments from the arrangement could reach $1 billion, which would represent a significant return on a $65 million entry check.

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To fund the investment, Empery is considering selling a portion of its remaining Bitcoin holdings, which currently sit at approximately 2,914 BTC valued at around $170.7 million as of June 30.

The company is also discontinuing its Bitcoin-based net asset value dashboard, which it previously used to track BTC holdings as a core metric.

From Bitcoin maximalist to AI infrastructure play in under a year Empery Digital, formerly known as Volcon Inc., adopted its Bitcoin treasury strategy in July 2025, raising over $481 million and deploying over $473 million of that into Bitcoin purchases.

The company sold 370 BTC in early 2026 at an average price of $66,632 per coin. The remaining 2,914 BTC represents a meaningful position, but it is a fraction of what the company was accumulating less than 12 months ago.

The company faced shareholder activism related to its Bitcoin treasury approach, a recurring theme among smaller firms that adopted aggressive digital asset strategies.

What this means for investors watching the space Empery’s stock declined following the AI investment announcement.

The bear case is straightforward. Empery spent most of 2025 building a Bitcoin treasury identity, raised hundreds of millions around that thesis, and is now selling that Bitcoin to fund a single illiquid infrastructure bet that gives them a 25% stake, not operational control, in one data center.

The bull case: AI data center demand is real and growing fast. Facilities with existing 150 MW capacity are genuinely scarce. A structure where the tenant covers build-out and operating costs while Empery collects lease revenue is capital-light once the $65 million check clears. And a potential $1 billion in long-term lease payments, if it materializes, would transform the company’s financial profile.

For investors, the key question is execution. Empery has demonstrated an ability to raise capital quickly, having pulled in over $481 million in 2025. The Q3 2026 close date for the deal will be the first real milestone to watch, followed by any announcements about the data center tenant, whose identity has not been disclosed.

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

Two of the most aggressive corporate Bitcoin buyers just had a very busy June. Strategy Inc. and Strive Inc. collectively added 6,989 BTC to their treasuries, funded almost entirely through preferred equity instruments rather than traditional stock sales or debt offerings.

Strategy picked up 3,625 BTC on a net basis, while Strive added 3,364 BTC. Each company deployed approximately $200 million raised from their respective preferred equity products: STRC for Strategy and SATA for Strive.

The preferred equity playbook Neither company went the conventional route of issuing new common shares or tapping revolving credit lines. Instead, both relied on preferred equity instruments designed to trade near $100 par value with effective yields ranging from 11% to 13% or higher.

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For Strategy, the STRC instrument has become the primary engine for Bitcoin accumulation. The company did sell 32 BTC during the month to cover STRC dividend obligations, which is why the net figure comes in at 3,625 rather than the gross amount purchased.

Strive’s approach was even more front-loaded. The company’s largest single transaction in June was a 2,500 BTC purchase funded almost entirely through SATA proceeds. That single buy accounted for roughly three-quarters of Strive’s monthly total.

The running scoreboard Strategy’s total Bitcoin holdings now exceed 845,000 BTC as of early June, roughly 4% of all Bitcoin that will ever exist. Strive, meanwhile, has climbed to nearly 20,000 BTC.

Both companies were buying during a period when Bitcoin prices fluctuated between roughly $60,000 and $65,000. At those levels, each company’s $200 million deployment bought somewhere around 3,000 to 3,500 BTC, which lines up neatly with the reported figures.

The combined haul of nearly 7,000 BTC represents meaningful demand at a time when Bitcoin’s supply dynamics continue to tighten following the April 2024 halving event. Miners now produce roughly 450 BTC per day, meaning Strategy and Strive alone absorbed the equivalent of about 15 days’ worth of new Bitcoin supply in a single month.

Why preferred equity changes the game The 11% to 13% yields on these instruments aren’t trivial, but they’re manageable as long as Bitcoin’s price trajectory cooperates. If Bitcoin appreciates faster than the cost of the preferred dividends, the companies are effectively borrowing at a negative real rate to accumulate a scarce asset.

Strategy’s small 32 BTC sale to cover STRC dividends hints at this dynamic. The company is already using its Bitcoin stash to service the preferred equity, creating a direct link between the treasury’s size and its ability to sustain the financing mechanism.

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

Bitcoin’s latest sell-off intensified as bearish momentum continued building across Binance’s derivatives market. After repeatedly testing lower support levels, Bitcoin [BTC] briefly slipped below $58,000 for the first time since September 2024.

This price drop was accompanied by a net taker volume of about -$330 million. This exceeded the -$311 million that was seen on the 25th of June.

The deeper negative reading shows sellers aggressively crossed the spread instead of waiting for buyers, overwhelming available bids and accelerating the decline.

Source: CryptoQuant At the same time, the 7-day Open Interest trend remains positive. This indicates traders continue to add leverage based on their expectations of further declines in price.

Unless buyer absorption strengthens and aggressive selling subsides, leveraged bearish positioning could keep Bitcoin under sustained downside pressure.

Institutional distribution weakens Bitcoin demand That aggressive sell-side pressure also coincided with a continued deterioration in institutional demand. Rather than absorbing the latest wave of selling, U.S. Spot Bitcoin ETFs extended their distribution trend, shedding more than 100,000 BTC during 2026 alone.

Source: CryptoQuant Furthermore, the total number of BTC sold off by ETF issuers has reached approximately 160,000 BTC since they hit a high-water mark in their reserves in late October 2025. This represents losses totaling more than $11 billion.

Source: CryptoQuant Therefore, it is likely that numerous institutional participants remain underwater. The persistent reduction in the reserves held by the EFTs suggests that EFTs have moved from providing support to Bitcoin’s bull run to creating additional structural supply.

Consequently, if ETF flows do not soon turn positive again and institutional demand continues to weaken. This will then result in an increase in negative pressure for all segments of the overall market.

Can Spot demand replace fading ETF support? There is concern now even though there was a significant amount of Spot buying activity after weeks of ETF selling. The market did not see strong enough demand to sustain the price of Bitcoin above $60,000.

Since then, while there are increasing signs that Long-Term Holders have been accumulating, the absorption of excess supply has continued to be spotty at best.

Also, the Short-Term Holder MVRV still hovers below one. This implies that most new buyers in this period have unrealized losses on their positions.

As such, until Coinbase Premium strengthens and Spot Taker CVD turns decisively positive, weak spot demand could leave Bitcoin vulnerable to renewed downside pressure.

Final Summary BTC faces growing pressure from aggressive selling and persistent ETF outflows. Bitcoin needs stronger Spot demand to stabilize and regain momentum.

SPOILER ALERT: Jeff Booth does not know what the world will look like in 2036.

I know, I know… You probably wanted to hear from Jeff — author of The Price of Tomorrow and someone with incredible foresight and vision — that all eight billion of us would be living in the type of abundance he often talks about on podcasts.

You likely wanted to read that Jeff foresees Bitcoin replacing fiat by 2036 and that we’ll all be able to just kick back and relax as we enjoy living in a deflationary system by then.

I, too, was slightly disappointed when he didn’t paint a picture of a Bitcoin-fueled utopia that will exist a decade from now.

That said, in true Jeff Booth fashion, he offered some perspective that was perhaps even more profound than expected:

“It can exist for them right this second,” said Jeff in regard to when people can begin to reap the benefits of existing in a Bitcoin-buoyed system. “The question is ‘Do people move their time and energy to this new system?’”

Leave it to Jeff, someone who I often refer to as the Eckhart Tolle (author of The Power of Now) of Bitcoin to remind us that we don’t have wait for a day in the far off future when Bitcoin has transformed the world, we can begin to use right now it to transform our own personal world and the worlds of those with whom we engage.

“We are the change,” said Jeff. “We always have been.”

There’s just one caveat to Jeff’s message, though…

To fully experience the benefits that Bitcoin offers, we cannot simply view it as another asset within a broken system, we have to see it for what it actually is: a protocol.

Bitcoin As A Protocol  According to Jeff, seeing Bitcoin as anything but a protocol will not only result in our not fully benefitting from it, but ultimately in the failure of the protocol itself.

That’s a lot, I know.

Let’s unpack it.

When Jeff looks out at the world, he sees a spectrum of Bitcoin enthusiasts — and, of course, those who will continue to simply dismiss Bitcoin.

The latter will resume focusing their efforts on trying to reform the broken and insolvent system that continues to steal their time and wealth while consistently blaming the powers that be for their lot in life, further handing over their power to those actors in the process.

If you’re reading this article, you’re likely not one of those types. You, instead, exist somewhere on a spectrum of Bitcoin understanding that Jeff has conceptualized.

On one side of that spectrum are those who take risky bets with bitcoin or even with other crypto assets in efforts to get rich quickly. This type lends much of their energy to searching for the next scheme to trade. Very few in this world win big and almost all lose over a longer time horizon.

One level up from that are those who see bitcoin as a store of value. The problem with this perspective is that the asset is trapped within the broken monetary and financial systems instead of replacing them. If bitcoin only remains a store of value, its ownership will continue to centralize over time, leading to a Bitcoin elite, a new breed of kings, as opposed to a world in which all human beings benefit from bitcoin. This scenario will also lead to continued issues with Bitcoin custodians.

“If we continue to have a debt-based system on top of bitcoin, bitcoin will continue to be held by custodians who will get liquidated time and time again as they take risks with their customers’ bitcoin,” said Jeff. “It’ll look like Celsius and BlockFi over and over and over again.”

Finally, there are those who see Bitcoin as a protocol.

They understand that Bitcoin emerges in layers, each of them enabling it to be used more easily and privately as money. It’s those for whom Bitcoin will serve as a true catalyst.

“It’s only if you view Bitcoin through the protocol lens that the world will change for you,” said Jeff.

“Every single other one of those perspectives relies on ‘It’s somebody else, not me.’ But the last one says ‘I create the future from my intention,’” he added.

“So, when we think about 2036, the real question is ‘How many people realize that they have the agency to change the world?’”

While this may seem like a relatively easy question to answer for oneself, it becomes more challenging when considering that we exist in a world that is constantly trying to distract us from what Bitcoin truly is.

Don’t Get Caught From flavor of the month FUD to hero worship, it’s easy to give up your power.

“People often give their agency away to the likes of those who spread fear around quantum computing breaking Bitcoin or to those talking about how Jeffrey Epstein tried to infiltrate Bitcoin Core,” said Jeff.

Much of the Core vs. Knots debate was also driven by fear, which also siphoned people’s power, according to Jeff. With regard to this particular issue, Jeff noticed the name calling and ad hominem attacks, but opted not to contribute to the drama. Instead, he simply saw it as a signal that the issue was worth investigating. He believes that the debate offered people an important opportunity to fight for what they want Bitcoin to be.

“We’re used to seeing only a small part of consensus and not seeing views that are outside of it,” said Jeff. “The consensus mechanism and the agency of all participants fighting for what they see bitcoin as allows each person to see the entire debate and make their choice of what bitcoin is to them.”

Jeff went on to say that instead of being driven by fear and blindly digging in with one side or the other in such debates, it’s important to look inward at these times. Both doing so and advocating for what you want Bitcoin to be is ultimately how the protocol stays safe in his eyes.

“If there are enough hypervigilant people focused on the issues, Bitcoin stays secure,” said Jeff. “If there are enough people building on this and they are all hypervigilant as they build, it stays decentralized.”

Bitcoin enthusiasts also give away their agency to figures in the Bitcoin space who convince them that bitcoin is nothing more than a store of value — digital capital, if you will — according to Jeff.

“If you talk about digital capital and digital assets or building a debt-based system on top of Bitcoin, you aren’t viewing Bitcoin as a protocol,” explained Jeff. “Building a debt-based system on top of Bitcoin is centralizing, which isn’t good for Bitcoin. If you’re trying to concentrate bitcoin and become a new king, then both Bitcoin and the game you’re playing will ultimately fail.”

Jeff attributes the fact that some aren’t able to see how building a system that resembles the system Bitcoin was designed to replace is ultimately doomed to the notion that many are trapped in old mental models. In other words, we often bring our baggage from the old system into this new one. Those who see Bitcoin as a protocol, those using it as money in Bitcoin circular economies on a day-to-day basis, fundamentally understand Bitcoin through a different lens. They intuitively know that every choice, want, and need is a choice to distribute value or give value. And as bitcoin becomes more ubiquitous as money, then those playing financial games with bitcoin will ultimately be forced to give up their coins.

“You can try to create debt on top of bitcoin, but, eventually, as Bitcoin adoption increases, prices will begin falling so fast that those trying to centralize Bitcoin will have to figure out a way to deliver value to society in excess of what they’re spending to pay back and service their debt, which they won’t be able to do, forcing them to distribute their bitcoin,” said Jeff.

In short, Bitcoin inevitably liquidates those playing a zero-sum game; therefore, according to Jeff, it’s best to focus on what you’re doing to provide value to the world rather than focusing on how prominent figures in the Bitcoin space are rebuilding the same type of debt-based system that we’re trying to escape on top of bitcoin.

Why Bitcoin Remains Decentralized and Secure For this issue, the editorial staff and writers involved have presupposed that Bitcoin is still sufficiently decentralized and secure come 2036. The truth is, though, as Jeff points out, if we all don’t claim our own power and embrace Bitcoin as a protocol, then it centralizes and fails.

Put another way, Bitcoin is not inevitable.

Yet, at the same time, Jeff is all but 100% convinced that Bitcoin does, in fact, succeed.

Why is that? you might ask.

Well, to use Jeff’s own words, he believes that Bitcoin will win because he “believes in us.”

Now, I know what you might be thinking: How could Jeff believe in us?… I mean, has he seen all the pleb slop out there? Has he seen how quickly many have been to abandon their Bitcoin vision and morals in pursuit of fiat gains? And does he think we’re all as good at thinking for ourselves as he is?

While I didn’t ask Jeff those questions, I’d imagine his answers to the second and third ones are “yes” and that he’s too humble to even respond to the final one. And as for the first question, he answered it without my posing it to him directly.

“As time goes on, more and more people discover what Bitcoin truly is, and each of them begins to move their agency into this space,” he explained. “In the process, people discover that their agency matters and that they can bend reality to their will. And when we share different thoughts about Bitcoin with others, it opens people’s minds, further causing them to shift their time and energy. I’m so positive that Bitcoin succeeds because I believe in the best in us, and I’ve already seen so many people move their time into this space and how that has had such a positive impact on them.”

Still, Jeff, c’mon! Most of us are still simply trying to convince our friends and family members that Bitcoin isn’t a scam, much less something that they should be moving their time and energy into. Even the idea of moving one’s time and energy into Bitcoin seems like an abstract and foreign concept to most people today.

Jeff gets that, too. And so he offered a caveat:

“Not everybody has to move their time — only a small fraction do.”

Now, given that my intention in writing this piece isn’t simply to help share Jeff’s perspective but to encourage you to embrace your own agency and power, I’m not going to share how much that small fraction is composed of in Jeff’s mind. Doing so might put you back into the mindset you may have had before you started reading this piece, the “Bitcoin is inevitable, and my efforts mean nothing in regard to its success or failure” mindset. Since that’s neither productive nor empowering, let’s not go there. The point is that Jeff believes that there are enough of us out there who will “hold the line and fight for freedom” as we work to maintain what he terms “the honest chain.”

“__% of people will cheat and go back to the dishonest chain,” said Jeff. “They’ll tell themselves ‘I needed to do it for my family.’ Deep down, they won’t have wanted to move to the dishonest chain, but they will feel that the consequences of not doing so were just too great. So, they’ll take the bribe. They’ll tell themselves ‘If not me, somebody else will do it, and I have to do it, too.”

Though that remaining percentage of people who support the honest chain may be small, it will be more than enough to have the balance of most people eventually move with them, according to Jeff.

“That small group forces a foundation from which others can benefit,” said Jeff.

A beautiful dimension of Bitcoin is that it’s a group, as opposed to a single figure, that keeps the network safe. And what shields this group is that Bitcoin enables them to remain anonymous. This can be contrasted with public leaders or religious figures who’ve challenged power and been martyred for it.

“Those leaders and religious figures had to be killed because they were open and very dangerous to the system of power,” said Jeff. “Now, those who want to stand up for what’s right no matter what to keep Bitcoin protected can do so because privacy is built into its layers. If this fight were occurring in the open, the intransigent minority, those who want to stand up for what is right, would be knocked off in time; it would be too dangerous for them to stand up.”

In this light, Bitcoin could be viewed as the greatest tool for human liberation we’ve ever seen. And the most exciting part is, we may have all of the components we need to scale it securely and in a manner that offers people transactional privacy.

Scaling Bitcoin: We May Already Have All We Need Given how often Jeff refers to scaling Bitcoin in layers, I asked him how many layers he envisions Bitcoin having by 2036, anticipating that he had some ideas for layers that few of us could have yet conceptualized.

To my surprise, his answer to my question was direct: “I think we have almost everything already.”

(LFG.)

“We have Bitcoin, composed of energy, mining, and the consensus rules,” began Jeff. “Next, we have Lightning, Liquid, Ark, etc. This is the transport layer where you can now transport value instantly at very fast speeds. On top of or integrated with that, you have fedimints for ecash, the privacy layer. We also have Nostr, the identity layer, web of trust, and privacy layer. And that might be all we require. Everything there is enough to enable all applications to take part in the first global free market that’s ever existed.”

But what about a capital markets layer? Will we see tokenized assets on a Bitcoin layer by 2036, or at any point in the future for that matter?

According to Jeff, that’s a hard “no.”

“Tokenization is part of the fiat scam,” said Jeff. “The idea with tokenization is that people are going to take more assets and drive more money into those assets. In the world I’m talking about, you don’t need tokenization because the protocol preserves value for you — everything is priced in prices that are falling.”

According to Jeff, tokenized assets, whether on traditional ledgers (e.g., brokerage accounts) and on blockchains, are part of the current system, which is extractive. In a world underpinned by bitcoin, people won’t need to rely on tokenized assets to preserve their wealth.

“In this new world, capital markets get way smaller,” said Jeff. “In 1900, capital markets only made up about 1% of the economy, and now it’s closer to 40%. Tokenization helps the extractive economy carry on; it becomes unnecessary in a world in which Bitcoin succeeds as a protocol.”

Jeff contextualized his point by describing how he and the team at ego death capital, the Bitcoin venture capital firm that he co-founded, think about making investments in a world where bitcoin continues to appreciate in value.

“At ego death, we deploy risk capital where we think we can exceed a 45% IRR (internal rate of return),” Jeff explained. (Bitcoin’s IRR over the past 15 years is approximately 45%.) “Most startups don’t get funded with debt. Family and friends typically fund startups and what they’re doing is saying ‘I believe you can do this,’ while not necessarily considering the fact that most startups fail because it’s so hard to create value in the free market. Investors only come in when they see a startup starting to win and when they think a business will provide tons of value moving forward.”

And most investors in public markets today are only investing because fiat currencies are losing value at such an alarming rate. In a world that’s on a bitcoin standard, speculating in markets as a means to preserve value is no longer necessary.

Start Today Each of our actions in this Bitcoin space have power.

They are helping to chart a course in which, by 2036, there will be exponentially more of us reaping the benefits of living on a bitcoin standard.

While that future surely isn’t promised, Jeff feels confident that we’re on the right path.

“Our future is created by these collisions of us talking to each other, learning from one another, and expanding our knowledge to other people,” he explained.

Plus, the longer Jeff works with and invests in high-integrity builders in the Bitcoin space, the more confident he feels that Bitcoin remains decentralized and secure, as it must for it to succeed.

With that said, Jeff understands that many will sell out as the fight continues to be brought to Bitcoin’s doorstep, which is why he says that we should feel free to “slay our heroes.” Instead, he believes, we should look within ourselves for answers.

The Bitcoin story isn’t one of looking out to or up to; it’s one of looking inward and embracing responsibility and critical thinking, both of which are necessary in pursuit of increased personal power and agency.

If we want a world transformed by Bitcoin in 2036, we have to start by making the essential personal transformations and moving more of our time and energy into Bitcoin today.

Don’t miss your chance to own The 2036 Issue — featuring articles written by many influential figures in the space pondering the challenges of the next decade!

This piece is featured in the latest Print edition of Bitcoin Magazine, The 2036 Issue. We’re sharing it here as an early look at the ideas explored throughout the full issue.

Bitcoin made notable strides on Wednesday, rallying to as high as $60,200 before retreating to an intraday low of $57,737. The world’s largest cryptocurrency still managed to recover roughly 2.7% in the past 24 hours. Meanwhile, Ether posted a 3% gain, and Solana surged by 4.85%, signaling a broader rebound across major digital assets.

Markets bounce back, but investor caution prevailsDespite the apparent recovery in prices, investor sentiment remains distinctly cautious. Key “fear and greed” indicators, which track the emotional state of the crypto market, are currently hovering around 11 out of 100. This figure firmly places the market in the “extreme fear” zone, highlighting significant apprehension among investors. Notably, even with the recent rebound, Bitcoin is still down by nearly a third year to date.

While Bitcoin has enjoyed a short-term recovery, broader market data suggests that investor confidence has yet to stabilize in any meaningful way.

ETF outflows clash with long-term accumulationAnalyzing the available data reveals diverging trends in investor behavior. Spot Bitcoin ETFs listed in the United States have recently experienced notable outflows, outpacing inflows for several consecutive weeks. In June alone, a staggering $4.5 billion left these funds—a record for monthly withdrawals since the ETFs debuted.

In contrast, on chain data points to large-scale long-term accumulation. Over the past two weeks, long-term holders have reportedly added approximately 270,000 BTC to their portfolios. This wave of buying suggests that influential investors have interpreted the recent price correction as a strategic buying opportunity rather than a reason to sell.

Leverage builds up in a critical price rangeOne of the most closely watched short-term metrics has been the funding rate, which has remained positive for three straight days. In practical terms, this means that despite Bitcoin’s tests of new lows, bullish leverage trades continue to dominate. Such concentrated leverage on one side of the market, especially with tepid price action, can heighten the risk of increased volatility.

Recent data from three leading exchanges shows that leveraged positions have piled up most densely between $57,000 and $60,500—the same price corridor where Bitcoin has been trading since the end of June. Outside this range, specifically above $61,000 and below $56,000, the intensity of these positions drops off dramatically.

This distribution reveals that forced liquidations are clustered close to the current trading range. Should Bitcoin break upward past $61,000 or fall below $56,000, analysts anticipate that price swings could quickly become much more dramatic.

The first 24 hour outlook remains neutralIn the near term, the overall outlook is considered neutral. To confirm a clearer shift in trend, both Bitcoin’s price and leveraged positions would need to demonstrate simultaneous growth. However, the latest data indicates that this alignment has not yet materialized.

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.

For years, Strategy Inc. traded at a hefty premium to its Bitcoin stash. Investors were willing to pay more than the underlying crypto was worth just for the privilege of exposure through a publicly traded stock. That era appears to be over.

Bloomberg reports that Strategy’s enterprise multiple to net asset value, known as mNAV, has fallen below 1x. In English: the company’s total enterprise value is now less than the market value of the Bitcoin sitting on its balance sheet. As of late June 2026, Strategy’s enterprise value sat at roughly $50.4 billion, while its 847,363 Bitcoin were worth approximately $51.1 billion.

From premium darling to discount bin The stock, which once traded near $540 in November 2024, has cratered to around $82. That’s an 85% decline from its peak.

Bitcoin’s own trajectory tells much of the story. After surging past $126,000 during the 2025 rally, the largest cryptocurrency has retreated to approximately $60,000. Strategy, which has staked its entire corporate identity on accumulating Bitcoin, absorbed every bit of that decline and then some.

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The company, which rebranded from MicroStrategy in February 2025 to better reflect its Bitcoin-centric mission, essentially operates as a leveraged Bitcoin vehicle. Because investors valued Strategy stock above the Bitcoin it held, the company could issue new shares at inflated prices and use the proceeds to buy more Bitcoin. Each share issuance was accretive, meaning existing shareholders got more Bitcoin exposure per dollar invested.

$10 billion in unrealized losses and a shrinking playbook With Bitcoin trading near $60,000, Strategy is now sitting on more than $10 billion in unrealized losses based on the average acquisition cost of its holdings.

The vanishing premium has also killed the equity issuance strategy that fueled the company’s buying spree. To adapt, Strategy has reportedly pivoted toward alternative capital strategies. The company’s playbook now includes debt mechanisms and preferred stock instruments, with plans that could involve up to $1.25 billion in either Bitcoin buybacks or sales. A company that built its brand on never selling Bitcoin is now keeping the option on the table.

Strategy’s balance sheet features a mix of convertible notes, preferred stock offerings, and traditional debt, all layered on top of a single underlying asset.

What this means for investors The mNAV falling below 1x fundamentally changes the investment thesis for Strategy stock. What remains is a stock that gives you slightly less than one dollar of Bitcoin for every dollar you invest, plus corporate debt and preferred stock obligations sitting on top.

Spot Bitcoin ETFs now offer investors direct Bitcoin exposure without the corporate overhead, debt obligations, or management risk that come with owning Strategy stock. When Strategy traded at a premium, it offered something ETFs couldn’t: leveraged upside. At a discount, the value proposition gets murkier.

Investors watching this space should pay close attention to whether Strategy actually executes any Bitcoin sales from that $1.25 billion authorization. The company still holds 847,363 Bitcoin, making it by far the largest corporate holder of the asset.

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

https://moneywise.com/investing/cryptocurrency/michael-saylor-strategy-bitcoin-sale-plan

Strategy, formerly known as MicroStrategy, has announced a significant shift in its financial strategy, unveiling a $1.25 billion Bitcoin monetization program. This move marks a transition from solely accumulating Bitcoin to actively managing its balance sheet, as the company also increased the dividend on its STRC perpetual preferred stock to 12%. This development comes as Strategy’s USD reserves stand at $2.55 billion, with substantial Bitcoin purchases overshadowing U.S. spot Bitcoin ETF inflows. The market is now assessing whether this strategy pivot indicates a halt in the company’s previously aggressive Bitcoin accumulation approach.

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The impact of this announcement is reflected in the prediction markets. Current pricing suggests a high likelihood of Bitcoin maintaining a value above $54,000 on July 2, with some markets pricing in a near certainty. The strategic use of Bitcoin as a capital tool appears to be interpreted by market participants as a positive financial indicator, potentially bolstering confidence in Bitcoin’s price trajectory.

Key Takeaways Strategy’s $1.25 billion Bitcoin monetization program and increased STRC dividend suggests a strategic shift towards active balance sheet management. Market pricing indicates high confidence in Bitcoin maintaining a value above $54,000 by July 2, 2026. The company’s move is seen as a positive indication of financial health, likely influencing Bitcoin’s price in the short term. What to Watch Observers will closely monitor Strategy’s subsequent actions and whether its shift in strategy affects Bitcoin’s market dynamics. Key factors include further announcements from Strategy and broader market reactions to Bitcoin’s monetization. Additionally, developments related to Bitcoin ETF inflows and regulatory actions could either support or challenge the current pricing expectations.

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Term Structure

Contract Odds Δ since publish Volume 24h July 2 99.8% — — View market → July 2 99.9% — — View market → July 2 0.7% — — View market → July 2 0.1% — — View market → July 2 99.9% — — View market → July 2 2026 76.5% — — View market → July 2 2026 97.8% — — View market → July 2 2026 13.7% — — View market → July 2 2026 99% — — View market → July 2 2026 0.2% — — View market → July 2 2026 0.2% — — View market →

Bitcoin tops $60K amid Fed inflation talks: Is bull trap or $65K next?

K Wave Media had a Bitcoin strategy. Then it didn’t. On May 6, 2026, the Nasdaq-listed K-Pop and entertainment company sold its entire Bitcoin holdings for $64.2 million, closing the book on a treasury experiment that lasted less than a year.

The company used proceeds from the sale to repay debt, completing a strategic reversal that left KWM holding zero Bitcoin and a very different roadmap than the one it pitched to investors in 2025.

From $1 billion Bitcoin bet to zero Less than a year ago, K Wave Media looked like it was building a serious crypto treasury operation. In 2025, the company secured $1 billion in capital capacity through two separate financing agreements: a $500 million SPA with Anson Funds and a $500 million SEPA with Bitcoin Strategic Reserve.

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The terms were explicit. Eighty percent of net proceeds from certain instruments were designated specifically for Bitcoin purchases. The company followed through, acquiring 88 BTC in July 2025 as the foundation of that strategy.

Then the pivot happened. On May 4, 2026, KWM announced it would redirect up to $485 million of its remaining financing capacity toward artificial intelligence infrastructure initiatives. Two days later, the Bitcoin was gone.

The company also sold its main subsidiary, Play Co., a move designed to eliminate roughly $48 million in debt and liabilities, pending shareholder approval. In a matter of days, KWM went from crypto treasury company to AI infrastructure play.

The market reaction was not subtle Investors who bought into KWM for its Bitcoin exposure were not given much warning. Shares dropped 24% on the day the strategic pivot was announced.

KWM is incorporated in the Cayman Islands and trades on Nasdaq under the ticker KWM. The company’s core business has historically centered on K-Pop content and entertainment.

What this means for corporate Bitcoin holders KWM’s exit is a useful case study in the gap between a company announcing a Bitcoin strategy and actually committing to one. MicroStrategy, now rebranded as Strategy, has held Bitcoin through multiple severe drawdowns and built its entire corporate identity around the position.

The K Wave situation illustrates a specific risk that applies to smaller companies mimicking the treasury playbook: the financing structures used to accumulate Bitcoin often come with conditions, counterparties, and redemption mechanics that can make the position less permanent than it looks from the outside.

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

Crypto analyst Aaron Dishner noted that Bitcoin recorded its lowest daily close since September 2024. According to Dishner, this move caused BTC to fall below its short-term support level, briefly forming a new local low around $57,800.

The analyst stated that the current outlook presents a contradictory picture to Bitcoin’s historically positive July performance. Dishner noted that July has historically been a green month for Bitcoin, with previous “bottom year” Julys of 2018 and 2022 seeing BTC recover an average of around 19 percent.

According to Dishner, this scenario could be consistent with a rebound in Bitcoin driven by overselling, continuing towards the weekly TBO Fast line. However, the analyst added that BTC is still strongly trending downwards on both the daily and weekly TBO indicators.

Dishner noted that Ethereum shows a similar picture to Bitcoin, stating that ETH maintains a strong bearish outlook on its daily and weekly TBO indicators. However, he added that the On-Balance Volume moving average lines for both Bitcoin and Ethereum have begun to flatten. According to the analyst, while this doesn’t confirm a new bull trend, it suggests that the current downtrend may be preparing to change character in the short term.

Excluding stablecoins, the total cryptocurrency market capitalization is still in a strong bearish zone according to the daily TBO Cloud. However, Dishner noted that the OBV moving average is starting to flatten in this area as well. According to the analyst, similar market structures in past July lows were able to recover towards the weekly TBO Fast line before falling again.

Dishner also stated that a potential July recovery could put pressure on stablecoin dominance. According to the analyst, combined stablecoin dominance was hovering near its accumulation zone target of 13%. However, if Bitcoin experiences a rebound, this rate could fall to the lower band of the daily Cloud, i.e., to 11% or lower.

However, Dishner added that the bigger risks haven’t disappeared. According to the analyst, a similar early warning reversal signal was seen before the June decline. Furthermore, August and September remain historically weak months for Bitcoin and the cryptocurrency market. Therefore, Dishner stated that a potential rally in July should not be considered a confirmation that the long-term bottom has definitively formed, but rather a reaction rally stemming from oversold conditions.

On the altcoin side, according to the analyst, tactical opportunities are emerging in some assets. Dishner stated that Solana is working on a second TBO Close Short signal, which could be a bullish reversal signal in the short term. He noted that there is room for HYPE up to around $79,372, the 1,272 Fibonacci extension level, that a TBT bullish divergence structure is developing in BCH, that XMR could target the TBO resistance at $418.60 in an upward move, and that a second weekly TBT bullish divergence cluster is forming in KAS.

Dishner also noted that altcoins such as ICP, WLD, FET, SEI, WIF, and FARTCOIN are showing signs of rebound or reversal. Conversely, he said that some of the best-performing assets of late, like LAB, are starting to lose momentum.

*This is not investment advice.

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Bitcoin, Ethereum, XRP, and Solana have once again become the focal point of the crypto market after simultaneously flashing monthly buy signals on the TD Sequential indicator. This development has fueled speculation that a long-term bottom might be forming across leading cryptocurrencies; however, analysts warn that the indicator alone does not guarantee the start of a sustained rally.

Unified technical signal emergesCrypto market analyst Ali Martinez reported that all four major cryptocurrencies triggered a TD Sequential buy signal on the monthly chart. Used primarily on higher timeframes, this indicator aims to spot moments when the prevailing trend is losing steam and the stage may be set for a reversal.

Glossary: The TD Sequential, developed by market analyst Tom DeMark, is a technical indicator designed to identify moments when trends are becoming exhausted and a possible reversal is imminent, using specific counting sequences.

The monthly chart is pointing to a simultaneous macro reversal setup. The TD Sequential indicator is giving a buy signal for Bitcoin, Ethereum, XRP, and Solana.

It is rare for all four major cryptos to show monthly buy signals at the same time. This technical improvement has fostered cautious optimism in the market, especially after the sharp volatility seen in recent weeks.

Latest on prices and futures marketsAccording to data from CoinMarketCap, Bitcoin was trading at $59,947.31, Ethereum at $1,615.92, XRP at $1.05, and Solana at $77.45. Analysts note that these large-cap assets are presenting a more positive picture compared to earlier market turbulence.

AssetPriceOpen Futures InterestBitcoin$59,947.31$8.50 billionEthereum$1,615.92$21.99 billionXRP$1.05$2.31 billionSolana$77.45$5.58 billionCoinGlass data shows the open interest in Bitcoin futures on Binance stands at $8.50 billion. Open interest for Ethereum has reached $21.99 billion. XRP and Solana report figures of $2.31 billion and $5.58 billion, respectively. This data suggests that interest in the derivatives market persists, indicating continued engagement from traders and investors.

ETF flows reflect ongoing cautionUS spot Bitcoin ETFs saw net outflows totaling $222.60 million on July 1. Despite this, the total net inflows since these products launched have reached $51.59 billion. This pattern shows that while some investors are taking short-term profits, the broader trend has not been completely disrupted.

Spot Ethereum ETFs, meanwhile, recorded a net outflow of 16,715.33 ETH on June 30. Although institutional players continue to display caution, sentiment around longer-term demand remains upbeat.

Monthly buy signals may signal weakening selling pressure, but further confirmation is needed for a sustained recovery.

In the coming weeks, if Bitcoin, Ethereum, XRP, and Solana manage to hold above current price levels, strengthen ETF inflows, see a rise in open interest, and log increased buying volumes, the probability of a broader crypto market recovery will likely increase.

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 exchange balances saw a notable withdrawal wave heading into July 1, with USDC and Bitcoin leading approximately $850 million in net outflows from centralized platforms. The move adds another layer to a market already watching liquidity, ETF flows, and investor positioning closely.

TL;DR Centralized exchanges reportedly saw around $850 million in net withdrawals over 24 hours. USDC led stablecoin outflows with about $503 million leaving exchanges. Bitcoin recorded around $352.7 million in net withdrawals over the same period. Exchange outflows are wallet movements, not direct evidence of spot buying or selling. Exchange flows are useful because they show where traders are moving assets, but they need careful interpretation. A withdrawal does not tell us exactly what the owner plans to do next. It may reflect self-custody, institutional settlement, collateral movement, treasury management, or DeFi deployment.

USDC leads the stablecoin move The largest reported component of the outflow was USDC, with roughly $503 million leaving centralized exchanges. Stablecoin withdrawals can mean several things. Sometimes traders are moving dollars on-chain to use in DeFi. Sometimes market makers are shifting liquidity between venues. Sometimes funds are simply being pulled into custody after a trading period ends.

Because USDC is widely used as a settlement asset, its movement can offer clues about where liquidity may appear next. If stablecoins leave exchanges and move into wallets or protocols, that may support on-chain activity. If they move into custody and stay idle, the signal is more defensive.

Bitcoin withdrawals add a second signal Bitcoin also saw significant reported withdrawals, with around $352.7 million in net outflows during the same 24-hour window. BTC leaving exchanges is often interpreted as a sign of holding conviction because coins moved into self-custody are usually less immediately available for sale.

That reading is useful, but it should not be pushed too far. Large holders can move coins between wallets for operational reasons. Institutions can rebalance custody arrangements. Traders can withdraw funds without making a long-term investment statement. The signal is strongest when exchange outflows persist across several days and align with improving price action.

A market looking for cleaner signals The latest outflow wave comes as Bitcoin and the wider crypto market are searching for direction after a difficult June. Spot ETF flows have weakened, US demand indicators remain mixed, and traders are watching liquidity closely. In that environment, exchange reserve data can help show whether investors are preparing to sell or moving assets away from trading venues.

For now, the takeaway is balanced. USDC and Bitcoin withdrawals suggest capital is moving off centralized exchanges, which can be constructive if it reflects custody confidence or on-chain deployment. But the data does not prove immediate buying pressure. It is one piece of the market puzzle, and it becomes more meaningful if the trend continues through the next several sessions.

For readers, the cleanest takeaway is to separate the raw data from the market interpretation. The figures are useful because they show how capital is moving, but they should still be read alongside price action, liquidity conditions, and the wider risk environment.

This report is based on information from CryptoQuant.

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

Interest in AAVE, which experienced billions of dollars in outflows following the KelpDAO attack in April, continues to grow.

At this point, AAVE has recently managed to get on the radar of corporate companies, and has also experienced a huge surge in the number of new wallets.

Cryptocurrency analytics platform Santiment has reported that the DeFi lending protocol Aave (AAVE) has reached its highest daily number of new wallets since 2021. According to Santiment, this signals a recovery in DeFi.

According to data shared by Santiment, the number of wallets opened on Aave on the Ethereum network on June 30th reached 1806. This was the highest daily number of wallets recorded since October 2021.

Santiment stated that it sees this increase in AAVE as a sign of new participants entering the DeFi ecosystem.

The firm stated that, from a price perspective, this is the kind of signal investors want to see as July begins.

“…Last week, AAVE, ranked 46th by market capitalization, experienced a 23% increase.”

Furthermore, the emergence of new wallets at this rate indicates growing interest in AAVE and supports its price momentum. If this new participation translates into deposits, borrowing demand, and protocol revenue, AAVE could be poised for an even stronger recovery in the second half of 2026.”

Despite falling approximately 2.4% in the last 24 hours, AAVE has gained about 13% in value over the past week. Having approached $100 last week, AAVE was negatively impacted by the sharp drop in Bitcoin and fell to around $86.

As expectations for AAVE continue to grow recently, Standard Chartered and Grayscale have also issued bullish forecasts for the company. Accordingly, Standard Chartered predicts that the AAVE price could reach $3,500 by 2030, while Grayscale forecasts it could reach $175 within a year.

*This is not investment advice.

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