Track market-moving stories before they get noisy

The Security and Exchange Commission’s outgoing commissioner, Hester Peirce, has expressed optimism that the long-awaited Clarity Act will pass. 

Speaking on CoinDesk’s The Policy Protocol show, the regulator said that passing the law would help the SEC in drafting regulation. 

Lawmakers are pushing to get a vote on the crypto market structure bill — or Clarity Act — before the Senate goes to recess. Some Republicans have bemoaned that Democratic members of the senate are deliberately dragging their feet with the bill. 

“I’m still optimistic that the bill will get finished, and it will give I think the industry and investors and regulators an easier path forward because there’ll be very clear lines about who has authority over the crypto spot market, for example,” Commissioner Peirce said. 

“If the legislation passes, we’ve got lots of rulemaking to do,” Peirce continued. “But even if it doesn’t pass, we can do a lot: We can develop a framework for people who are trying to do fundraising using crypto assets, as an example.”

The Clarity Act has been in a deadlock for much of 2026, partially because the banking lobby raised concerns over crypto companies allowing clients to earn stablecoin yield. 

An updated bill of the Clarity Act was introduced in July addressing concerns around ethics; it now bans government officials and their families from issuing or promoting crypto. 

But a group of Democrats have said the bill needs work. 

If passed, the Clarity Act would create a regulatory framework for the U.S. cryptocurrency market.

Commissioner Peirce earned the nickname “crypto mom” for her friendly approach to regulating the space despite the SEC’s previous actions. 

Under ex-Chair Gary Gensler, the top regulator was openly hostile towards the digital asset space and hit crypto companies with a number of lawsuits. 

Since President Donald Trump took office in 2025, the SEC — and other regulators — have taken a far more friendly approach to crypto legislation. 

The SEC in 2025 announced a crypto task force specifically aimed at watchdogging the space.

Mathew Di Salvo

Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.

TD Cowen analyst Lance Vitanza is keeping his Buy rating on Strive, Inc. (NASDAQ: ASST), though he trimmed his price target from $32 to $28 on July 22. With ASST trading in the $12 to $15 range, that revised target still implies roughly 85% to 130% upside.

Vitanza also initiated coverage on Strive’s preferred stock, the Variable Rate Series A Perpetual Preferred Stock trading under the ticker SATA. That instrument carries a 13% annualized dividend paid out every business day, a structure the company claims is a first for US preferred securities.

The Bitcoin treasury playbook, with a twist Strive has been aggressively expanding its at-the-market equity program to fund ongoing Bitcoin purchases, essentially raising capital through share sales to buy more crypto.

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The SATA preferred stock carries a 13% annualized yield, paid daily since June 16, 2026, and classified as a return of capital to the extent of the holder’s tax basis. The preferred shares have been trading close to their $100 par value, targeting a tight range between $99 and $101.

The numbers tell a complicated story Strive reported a GAAP net loss of $265.9 million for Q1 2026. The company operates without any debt on its balance sheet, funding Bitcoin acquisitions through equity raises rather than borrowing.

Vitanza, who covers multiple Bitcoin treasury firms, maintains a $28 price target on ASST.

Why this matters for crypto investors The SATA preferred stock’s daily dividend mechanism stands apart from typical preferred structures. Traditional preferred stocks pay quarterly. Monthly payers are considered aggressive. Daily payouts began June 16, 2026, and the shares are classified as return of capital to the extent of the holder’s tax basis, a meaningful distinction for tax-conscious investors.

The lowered price target from $32 to $28 reflects some recalibration of expectations. Traders should watch how SATA trades relative to its $99 to $101 target range during periods of Bitcoin volatility, as any sustained break below par would signal that the market is repricing the credit risk of the preferred, which could have cascading effects on ASST common stock sentiment.

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

Supporters of the BIP-110 Update for Bitcoin Have Prepared a “Last Resort” Plan in Case the Proposal Fails: It Could Significantly Change BTC

In brief Ledger says the Coldcard exploit is a warning for the hardware Bitcoin wallet industry but says its own devices were not affected. The company argues independently certified hardware random number generators are essential for securely creating wallet recovery phrases. Ledger says AI is accelerating vulnerability discovery and forcing security teams to defend at machine speed. Hardware wallet maker Ledger says the recent Coldcard exploit should serve as a warning for the cryptocurrency industry.

According to Ledger CTO Charles Guillemet, the incident exposed weaknesses in how some devices, in this case hardware cryptocurrency wallets, generate cryptographic randomness while showing how artificial intelligence is reshaping both cyberattacks and digital defenses.

"We're treating this as a serious reminder of how the whole security model of a hardware wallet lives or dies on randomness," Guillemet told Decrypt. "Cryptography is hard and implementing it securely is harder. This week's Coldcard incident made that visible in the most expensive way possible."

The comments come as the fallout from the Coldcard exploit continues to grow.

Last week, Coldcard maker Coinkite disclosed a flaw in the air-gapped Coldcard Bitcoin hardware wallet that traces back to a March 2021 firmware build. The bug used a software fallback instead of the device's hardware random number generator to create wallet recovery seeds, making some private keys guessable and allowing thieves to steal user Bitcoin.

To date, losses have reached roughly $130 million while other thefts remain under investigation. On Sunday, Coinkite released patched firmware and urged affected users to move funds to newly generated wallets.

Coinkite did not respond to Decrypt's request for comment for this story.

Ledger said its own hardware wallets were not affected because they generate recovery phrases differently.

"Ledger hardware wallets draw their root secret (the 24-word Secret Recovery Phrase) from a true hardware random number generator built directly into a certified Secure Element, with no software fallback path," Guillemet said. "That generator produces the full 256 bits of entropy for every seed."

For Ledger, the incident raises broader questions about how hardware wallet security is evaluated.

"Open source and reviewed are not the same thing," Guillemet said. "This flaw sat in public code for more than five years until, reportedly, an adversary used AI to find it, a reminder that being open and being reviewed are two different things."

He said AI is changing cybersecurity by allowing attackers to scan code, search for configuration errors, and identify vulnerabilities "at machine speed."

"That means defense has to move at the same speed," he said. "It needs to come from security by design, hardware, and math."

In May, a security researcher using Claude Opus 4.8 discovered a four-year-old vulnerability that could have fueled unlimited minting of Zcash, leading to large-scale investor panic and sending Zcash down more than 40% in a single day in response.

According to Guillemet, Ledger says it has spent the past two years using AI alongside human security engineers and cryptographers to review code and identify vulnerabilities before attackers can exploit them.

“We also don't just rely on our own word for it,” he explained. “Our Donjon research lab exists to try to break our products before anyone else can.”

To mitigate future risk, Guillemet said users evaluating any hardware wallet should understand how it generates randomness and whether that process has been independently certified.

"Randomness has to come from physics, not a formula," he said. "It has to be certified by people whose job is trying to break that claim, not just asserted by the vendor."

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The Coldcard hack last week dealt a low blow to certain elements of the Bitcoin industry. A somber introspection has begun to question many of the practices and assumptions involved in securing bitcoin at a retail level. The consequences of this process might not be visible for many months. 

Some are saying that self-custody is dead. Some reports estimate that over 11,000 bitcoins were moved to custodial exchanges last week as users fled one of the most popular hardware wallets in the Bitcoin industry. The hack, which is ongoing and users can still save themselves from, has seen north of 1,300 bitcoins stolen, with some estimates as high as 2,000 coins. 

Coinkite in particular and its most vocal founder, NVK, had very strong opinions about what it took to secure bitcoin private keys from hackers. Its hardware wallets were airgapped to make sure malware could not exfiltrate data through USB cables. It used low-resolution, LED screens to avoid the complexity of touch screens. It developed protocols like BBQR and integrated NFC so that information could be transferred between the device and a computer without them touching or sharing SD cards. The list of paranoid design choices that made Coldcards iconic is long.

Yet the hackers involved in the theft of bitcoins held in Coldcards last week did not use any methods you might see in a modern spy movie. They exploited the one feature Coldcard should have had absolutely locked down. The generation of keys with high enough randomness, also known as entropy. In other words, secrets securing that are actually, mathematically hard to guess. While the devices were intended to use high-quality sources of entropy, the firmware had a bug which did not, resulting in Bitcoin private keys that were, in turn, easy to guess. The bug went undiscovered for years, and the product only grew in popularity in the meantime, until last week.

“Just buy the ETF bro” Despite this loss, which wounded a cohort of Bitcoiners who were among the most committed. Bitcoin can not give up on self-custody and expect to retain its integrity. At least that is what many in the industry believe, and the case for that is clear.

Satoshi Nakamoto’s white paper clearly intended Bitcoin to be a solution to trusted third parties and intermediaries. It eloquently made the case against trusted hierarchies of finance, as the 2008 financial crisis revealed the deep systemic risks and flaws legacy finance has led to. Many believe the 2008 crisis was never escaped, its consequences haunting us to this day.

This may be unpopular, but we never escaped the 2008 financial crisis. We just shifted the pain.

— Nayib Bukele (@nayibbukele) July 29, 2026 Going further back to the birth and proliferation of the modern banking system and its fiat currency. The 6102 executive order signed by President Franklin D. Roosevelt in 1933 saw the persecution and confiscation of gold from centralized trusted third parties and citizens alike. $300,000,000 in gold was returned after the executive order threatened gold owners with heavy fines and jail time if they did not sell their bullion to the banks at $20,67 per ounce. Over 14 million troy ounces worth of gold were turned in as a result. Another 200 million troy ounces are estimated to have been held in the American banking system at the time. The banking system, not just in the U.S. but worldwide at the time, was built atop the gold standard.

The U.S. was the largest economy of the world at the time, with the biggest concentration of gold inside its borders. Its abandonment of the gold standard was a death blow to gold as a free market pricing mechanism for goods and services as a whole. Governments throughout the world, now free from the chains of sound money, quickly fed and fattened from the hidden tax of inflation. At the time of the EO, the price of gold was artificially fixed to $20.67 an ounce; not a year later, it was repriced to $35 with the passing of the Gold Reserve Act in 1934, a 69% devaluation in the dollar. 

The fiat standard was thus delivered to governments throughout the world on a silver platter, by an unholy alliance between the banking system and politicians. It granted central banks the legal right to counterfeit money, to print it at will. It was soon followed by World War Two, which was of course funded by fiat currency. Tens of millions of people sacrificed in this war at the altar of state power. 

Fast forward a hundred years and U.S. government debt demands almost a trillion per year be paid in interest alone, with total owed close to 40 trillion and debt to GDP at 123%. These are arguably the inevitable yet predictable consequences of the death of the gold standard. The purchasing power of the dollar has collapsed in the century that followed, at the same time as technology has gone parabolic in its efficiency gains. That is only possible with money that has continually become worthless for decades. And the dollar is the best of the fiat lot.

Confiscation of gold in a rising power like the United States murdered the gold standard. It, however, could not have been possible if civilian custody of gold had been wider and more distributed. Many of the civilians who returned millions in gold after the 6102 EO had just taken it out of their accounts in a bank run. Their names were known, the amount of gold they held, tallied.

If gold was easier to move in large quantities. If private gold ownership totals had been more ambiguous. If removing the free flow of gold had not been so easy for the state to do, by knocking on the doors of bankers and pointing a gun, then perhaps the economies of the world would not have been able to withstand such a vast and destructive war, as was WWII for so long, in the following decade.

Bitcoin is Gold, Engineered To Survive a 6102 EO Bitcoin poses an alternative to gold, designed to learn from its inadequacies. Bitcoin has better properties to resist and survive such a confiscation. Bitcoiners envision and aspire to unlock a world that adopts Bitcoin as a global monetary standard. Where a large minority or even a small majority of the global economy uses Bitcoin as their primary store of value. In such a future, Bitcoin would take the place of gold and return sound money to the so-called capitalist order.  

To reach global reserve currency and defend this position, Bitcoin will need to be better than gold, and it can be better precisely because of its digital nature. The control of private keys, as difficult as it seems now in the shadow of the Coldcard hack, nevertheless can be far more powerful than any physical vault. Multi-signature scripts alone unlock distributed storage of Bitcoin private keys, such that a threshold of them must approve to move coins. This means that multi-jurisdictional, multinational vaults can exist and escape or resist the greedy hands of a large state that might attempt a new kind of 6102 takeover. 

The digital nature of Bitcoin means large amounts of value can be moved easily as well, without having to send the navy on a mission to pick up the gold. Without having to build a trusted hierarchy of banking custodians to transfer it. Civilians, with tools available today and better tools that are yet to come, might be able to hide their Bitcoin ownership as has been done in war-torn countries like Ukraine already, escaping a fearsome state’s grip over the public’s wealth.

Ultimately, a major hardware wallet manufacturer has failed the Bitcoin industry. The fundamental qualities of money remain the same, and among them all, as identified by Aristotle and others beyond him, Bitcoin remains king.

“Bitcoin vs gold vs fiat One is not like the others” – @BITCOINARCHIVE 

Michael @saylor has called on supporters of BIP-110 to abandon the effort, arguing the numbers have made the case for them. With just 38 signaling blocks, or 2.70% of the total, as of block 961,022, the proposal needs a 55% miner threshold to lock in voluntarily, which Saylor called impossible. His message was blunt: "Unless major miners reverse, Bitcoin continues normally while BIP-110 stalls or forks into irrelevance. Its backers should stand down."

What BIP-110 Would Do BIP-110, formally titled the Reduced Data Temporary Soft Fork and authored under the pseudonym Dathon Ohm, proposes a one-year consensus-level restriction on arbitrary data embedding in Bitcoin transactions. The rules would target the most common methods used for Ordinals inscriptions, large OP_RETURN payloads, BRC-20 tokens, and certain Taproot constructions repurposed for data storage. It also lowers the miner signaling threshold required for activation to 55%, down from the traditional 95% supermajority that Bitcoin soft forks have historically required.

Supporters argue that inscription-style activity bloats the blockchain and creates "significant unnecessary burdens" on node operators. They frame the proposal as a defense of Bitcoin's role as sound money. Critics, including Saylor, counter that changing consensus rules to address what some consider spam sets a more dangerous precedent than the problem itself. Saylor argues that fee markets and relay policies, not consensus changes, should address so-called spam, warning that BIP-110 could restrict innovation, weaken miner incentives, and undermine Bitcoin's role as an open, permissionless financial system.

The Numbers Are the Story Miner signaling sits near 2.6% of blocks after OCEAN began signaling by default, too low for voluntary lock-in this period, so the mandatory signaling window at block 961,632, around August 9, is the only remaining path. No major pool has committed: F2Pool has refused outright, AntPool has stayed silent, Foundry USA opened a hashrate-weighted miner vote, and Ocean produces effectively all signaling blocks. On those numbers, the likelier outcome is a small breakaway chain rather than a network-wide change.

Adam Back and Jameson Lopp have also warned that the proposal risks a Bitcoin chain split, calling activation parameters reckless and technically flawed. Saylor is not alone in his assessment, but his intervention carries particular weight given that his company holds 843,775 $BTC. The proposal has triggered one of the most significant Bitcoin governance disputes in recent years. As of July 2026, miner support stands below 1% and a mandatory signaling window approaches in August, making activation near-impossible, but the debate BIP-110 sparked over Bitcoin's protocol governance is ongoing regardless of the proposal's outcome.

Sources
Bitcoin.com: Strategy's Saylor Tells BIP-110 Backers to 'Stand Down' Before Fork
Crypto Times: Michael Saylor Says BIP-110 Lacks Bitcoin Economic Consensus
AMINA Bank: Bitcoin Fork August 2026 – BIP-110, eCash, Covenants and the Quantum Clock

ToplineA Trump-linked cryptocurrency mining company, American Bitcoin, disclosed Monday that it settled a Justice Department allegation accusing it of improperly obtaining a pandemic relief loan, agreeing to pay millions of dollars as it omitted the settlement from its positive earnings narrative.

The settlement's details were found in a Monday filing from ABTC.

Photo illustration by Chesnot/Getty Images

Key FactsA 10-Q form filed by American Bitcoin on Monday said it agreed to pay $2.5 million to settle the allegations that Gryphon Digital Mining, a company it merged with last year, wrongfully received a Paycheck Protection Program loan, which were given out to small businesses during the height of the COVID-19 pandemic.

A filing for the quarter ended March 31 from American Bitcoin said there was “no formal demand for return of the PPP Loan proceeds, and no formal claim or lawsuit has been initiated."

The loan at the heart of the allegations was for $2.2 million and given to Gryphon when it operated as a software provider for the cannabis industry, which the Small Business Administration said made it ineligible for the PPP.

The loan was forgiven by the SBA in 2021, but the agency walked its decision back in 2024, saying in a letter it was “considering a full denial of the previously received forgiven amount” as the Justice Department issued a civil investigative demand.

Gryphon, which used to operate as Akerna, responded to the letter and argued why it believed it was eligible for the PPP loan.

TangentAmerican Bitcoin shares closed up nearly 5% at $6.14 on Tuesday, continuing a series of gains after reporting earnings, which logged record bitcoin production and mentioned the settlement in the commitments and contingencies footnote.

Key BackgroundAmerican Bitcoin launched last year and was co-founded by Eric Trump and Donald Trump Jr. The company was formed through a transaction in which digital compute platform Hut 8 offered its cryptocurrency mining fleet to a new entity that merged with Gryphon last September, inheriting Gryphon's legal liabilities and the PPP dispute. American Bitcoin designated the matter as an unresolved contingency through its first quarter filing this year, just disclosing it was cooperating with the Justice Department. The $2.5 million settlement exceeds the original $2.2 million loan, suggesting additional costs were added to the resolution in addition to repayment.

In brief Bitcoin bridge Boltz has suspended its Bitcoin swap service indefinitely. The company says AI-assisted attacks are outpacing its ability to patch vulnerabilities. Boltz says no user funds were at risk because the platform is non-custodial. Boltz has suspended its Bitcoin swap service indefinitely, saying a surge in AI-assisted attacks has left it unable to continue operating safely.

In a series of posts on X on Monday, the company said swaps are disabled "until further notice" and that it cannot provide an estimate for when the service will return.

“We can't give an ETA as of this time, but will provide an update once we know more,” Boltz wrote.

Boltz is a non-custodial Bitcoin swap service that lets users move Bitcoin between the Lightning Network and the blockchain's base layer without giving the company custody of their funds. Boltz has not published transaction volume figures. Boltz currently holds around $262,000 in total value locked, according to DeFiLlama.

Because users retain control of their assets throughout the process, Boltz said "no user funds were ever at risk."

Boltz Swap Services are currently unavailable until further notice. We can't give an ETA as of this time, but will provide an update once we know more 🙏

— Boltz - Non-Custodial Bitcoin Bridge (@Boltzhq) August 3, 2026

"To be clear: this is not a response to a single incident," the company wrote. "Over the past months we have seen a steady rise in automated, AI-assisted probing of our infrastructure, and we have dealt with several exploits. Each was contained, but the pattern is clear: attackers now iterate faster than a team our size can find and patch."

Boltz said the pace of attacks accelerated over the past few days, leading it to conclude it could no longer safely operate its swap service.

"After reviewing the results of our own recent security scans, we cannot responsibly re-enable Boltz swaps, especially as we are being actively targeted by what appear to be multiple resourceful groups while we race to deploy fixes," the company wrote.

The company said its API remains available to process cooperative refunds, unilateral refunds continue to work because they do not depend on Boltz's infrastructure, and customer support remains available.

Boltz argued the attacks reflect a broader change facing Bitcoin infrastructure operators.

"What we are seeing is a major paradigm shift for Bitcoin services operating on an open source stack, and it needs careful analysis," the company wrote. "Do not expect swap services to resume shortly."

The announcement comes as the cryptocurrency industry grapples with how AI is changing cyberattacks.

On Tuesday, Ledger CTO Charles Guillemet warned that AI allows attackers to scan code and uncover vulnerabilities "at machine speed," while defenders are increasingly relying on AI to find the same flaws first. The comments came as fallout from the Coldcard exploit continued to grow, with losses nearing $130 million.

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Crypto analyst Ali Martinez shared critical technical levels for Bitcoin, Hyperliquid, and XRP, noting that the amount of BTC being moved to exchanges and miner sales could increase selling pressure in the market.

According to Martinez, Bitcoin is testing the upper boundary of a descending channel formation. Therefore, the $64,300 level stands out as a critical threshold for short-term price movements.

The analyst stated that a four-hour candle close above $64,300 would confirm a breakout from the descending channel. In such a scenario, the BTC price could initially reach $65,500, and if the uptrend continues, it could advance further to $66,500.

However, Martinez also pointed out on-chain developments that could increase selling pressure on Bitcoin. According to data shared by the analyst, more than 20,000 BTC were transferred to cryptocurrency exchanges in a short period of time.

The influx of Bitcoins into exchanges is being interpreted as an increase in potential selling pressure in the market, as it could signal that investors are preparing to sell. Martinez stated that BTC inflows to exchanges should be closely monitored.

Bitcoin miners have also been seen selling recently. According to Martinez, miners sold approximately 1,774 BTC worth about $112 million in the last week. The analyst interprets this movement as a new wave of profit-taking among miners.

Martinez also warned that the technical outlook for Hyperliquid’s native token, HYPE, could weaken.

The analyst noted that the HYPE price has reached a significant resistance trend line, and that the TD Sequential indicator has generated a sell signal in the same area.

He stated that if sellers gain control of the market in the resistance zone, the HYPE price could fall towards the $50 level.

According to Ali Martinez, the most important price level that will determine the direction of XRP in the coming period will be $1.06.

The analyst stated that if XRP manages to stay above the $1.06 support level, buyers could regain strength, and the price could target the $1.35 and $1.64 levels respectively.

However, Martinez stated that if the $1.06 support level is lost, selling pressure could accelerate, warning that the XRP price could fall first to $0.80 and, if the decline deepens, to $0.62.

*This is not investment advice.

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20h05 ▪ 5 min read ▪ by Ariela R.

Summarize this article with:

The numbers are conclusive! According to its latest 13F filing submitted on July 31, 2026, to the SEC, Intesa Sanpaolo has significantly reduced its exposure to bitcoin in the second quarter. Even more interestingly, Italy’s largest bank has strengthened its position in the Ethereum crypto ETF beforehand. A brutal repositioning that can only raise questions about institutional investors’ strategy on digital assets.

In brief Intesa Sanpaolo reduces its shares in BlackRock’s IBIT Bitcoin ETF by 93.7% in Q2 2026. Its call options linked to this crypto ETF drop by 99.3%, while a new put of 500,000 shares appears. Conversely, its stake in the staked Ethereum ETF triples (from 116,200 to 349,600 shares). The SEC document does not allow knowing the Italian bank’s actual net exposure. Intesa Sanpaolo Dumps Almost 94% of Its Bitcoin ETF According to the filing submitted to the SEC, Intesa Sanpaolo has reduced its position in BlackRock’s IBIT Bitcoin ETF from 646,809 shares to only 40,723. This represents a drop of 93.7%. That’s not all! The bank also crushed its calls on the Bitcoin ETF. The underlying amount decreased from several million to 18,000 shares, a drop of 99.3%.

Meanwhile, a new line of put options equivalent to 500,000 IBIT shares appears in the second quarter filing. This detail intrigues, as it did not appear in the first quarter report. However, Form 13F documents do not specify the strike price, maturity, or premium paid. It is therefore impossible to know if this position aims to cover an existing risk or to explicitly bet on a decrease in the bitcoin price.

Still in the same context, Intesa Sanpaolo holds 3.47 million shares of the ARK 21Shares Bitcoin ETF. This represents about 67.6 million dollars. Analysis: the bank’s bitcoin exposure now seems limited to the bare minimum. The exit remains targeted on BlackRock’s flagship crypto product.

Ethereum in Pole Position: Crypto Staking Attracts Institutional Investors While the Bitcoin ETF retreats, the world’s second cryptocurrency advances. Still according to the Form 13F document, Intesa Sanpaolo increased its holdings of the iShares Staked Ethereum Trust from 116,200 to 349,600 shares. This equates to nearly 7.1 million dollars. The bank thus tripled its position in this BlackRock Ethereum ETF.

According to crypto analysts, this choice reveals a strong preference for yield-generating products. Indeed, crypto staking allows locking ETH to secure the network and earn rewards. Unlike a simple spot ETF, this approach offers a stream of passive income. For a commercial bank, this is a significant argument.

Moreover, Intesa Sanpaolo is not the only one exploring this path. Other Italian and European institutions are already strengthening their crypto portfolios through regulated products. Staking, in particular, is becoming a favored lever to diversify a crypto portfolio without touching the direct custody of private keys.

Hedging Strategy or Change of Conviction? A Market Signal Not to Ignore Crypto analysts emphasize an important point: the SEC filing does not tell the whole story. Form 13F captures the shares held but not the full structure of derivatives. In other words, the 500,000 puts on the Bitcoin ETF may mask a net position different from what the raw numbers suggest.

However, the size of the movement is striking. Reducing the Bitcoin ETF by 94% while tripling the crypto Ethereum sends a clear signal. The bank reallocates within its digital asset basket, not just to protect itself. Furthermore, it has also almost liquidated its position in the Bitwise Solana Staking ETF. This one fell from 2,817 to 7 shares.

For investors, this type of rotation can weigh on sentiment. If an institution of this size reduces IBIT and strengthens the Ethereum crypto ETF, it could signal a relative vote of confidence.

In any case, Intesa Sanpaolo’s turn proves that crypto investment strategies are becoming increasingly complex. Will other European banks adopt the same approach? Story to follow…

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Ariela R.

My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

In this patch of your weekly Dispatch:The case for custodyETH’s 11th birthdayJobs data week aheadMarket cast

BTC: Bears lose their grip near oversold lowsBitcoin's weekly chart shows price continuing to hover around the 200-period SMA, which is acting as strong dynamic support and keeping the broader trend range-bound. The RSI, a momentum oscillator, offers no clear directional signal, while the Stochastic, another momentum oscillator, sits near oversold territory. The MACD, a trend and momentum indicator, keeps its histogram slightly above the zero line — a mildly constructive sign even as the broader picture stays mixed.

The daily chart tells a similar story. Price remains confined to a tight range lacking strong directional momentum. The RSI sits in neutral territory, while the Stochastic's signal lines are turning upward from oversold levels, hinting at a possible short-term bounce. The MACD histogram stays slightly below the zero line.

Key levels to watch: On the downside, support sits around $62,000, with a deeper zone near $60,000; the weekly 200-period SMA offers additional dynamic support. To the upside, resistance comes in around $65,000, followed by $67,000.

The big idea

When cold storage meets its limitsBitcoin was on track for a strong week. It was up nearly 10%, as fears of another Fed rate hike faded and geopolitical tensions cooled — a gradual uptick we've been tracking closely here on Dispatch. But nobody saw what was coming next. On July 30, a firmware flaw surfaced in a well-known Bitcoin-only hardware wallet, causing some devices to generate weak, predictable seed phrases — weak enough for attackers to work backward and reconstruct them. The sweeps have come in waves since, with a running total of roughly 1,816 BTC (about $114 million) taken from over 5,200 addresses. Many of the affected had done everything "right."

It wasn't a hack in the usual sense — no careless click, no phishing link. The flaw was baked into how the keys were created in the first place, a reminder that most self-custody setups rest on one thing alone: a single seed phrase.

Holders are already switching up their custody approach in response.CryptoQuant's Julio Moreno flagged a spike in daily exchange deposits of small Bitcoin transfers — under 10 BTC, the size retail holders typically move. Deposits hit 7,300 BTC the day after the exploit surfaced, the highest level since early February. In other words, a real slice of holders responded to a self-custody failure not by tightening their own security, but by moving coins to centralized platforms instead.

Modern custodial infrastructure isn't just someone else holding your coins for you. It's built specifically to remove the single point of failure. Many institutional-grade platforms now rely on multi-party computation: key material gets split across independent parties, so no single party ever holds the complete private key. Signing happens through a joint cryptographic process, not one exposed secret. Regulators have caught on to the same logic — newer custody rules in major markets now formally recognize these distributed models as secure and compliant, precisely because they cut single-point-of-failure risk. Self-custody isn't going away, and for some it's still the right call. But this week is a good reminder: platforms built around professional key management, redundancy, and real insurance may now be the sturdier place to actually hold your coins.

Ethereum

Eleven years in, ETH is still growing upHeading into August, ETH is up 5% on the month, outpacing Bitcoin — a fitting present for a network that just turned 11 last week. It's a strong showing considering the backdrop: July brought its share of geopolitical tension and macroeconomic uncertainty, yet Ethereum still closed out the month with $365 million in net ETF inflows, part of over $11.2 billion in total inflows since 2024. So what has Ethereum actually accomplished in 11 years to earn that kind of steady institutional demand? Today, it secures roughly $148.8 billion in stablecoins and $15.5 billion in tokenized real-world assets, backed by multiple technological upgrades that have made it an integral part of digital finance. Increasingly, that growth is being driven by Wall Street itself, with BlackRock and JPMorgan both deepening their presence on the network over the past year.

That growing institutional footprint is landing on solid technical ground, too. Ethereum recently activated its Fusaka upgrade, a step toward making the network's layer-2 ecosystem faster and more efficient. Eleven years in, the network isn't slowing down — it's just getting started. Cheers, Ethereum.

Macroeconomic roundup

Crypto eyes Friday's jobs reportIt's a heavy week for labor data, culminating in Friday's July jobs report, with Fed officials Cook and Barkin also set to speak on Tuesday and Thursday respectively. The setup matters: June payroll growth slowed sharply to just 57,000 jobs, and April and May were revised down by a combined 74,000. The Fed held rates at 3.5%–3.75% on July 29 anyway, citing solid activity despite the uncertainty. This week's releases could either confirm that cooling trend or undercut it entirely:

ADP Nonfarm Employment Change, Jul (Aug 5): The first hard look at private-sector hiring this week, and an early test of whether June's payroll miss was a one-off or the start of a pattern.

S&P Global & ISM Services PMIs, Jul (Aug 5): A read on the services side of the economy, where any signs of cooling would broaden the labor-market story beyond manufacturing.

Initial & Continuing Jobless Claims (Aug 6): A more real-time gauge of labor-market health heading into Friday's main event.

Nonfarm Payrolls, Unemployment Rate & Average Hourly Earnings, Jul (Aug 7): The week's headline release. A weak print here — echoing June's miss, would strengthen the case that labor demand is genuinely cooling, easing pressure on the Fed to consider any further tightening.

TradFi trends

SpaceX and AMD put tech spending to the testSpaceX reports its first-ever quarterly earnings as a public company after U.S. markets close today, and the timing is pointed: shares have slumped nearly 20% since the company's blockbuster June debut, erasing roughly $1.2 trillion in market cap after briefly trading above $200. The IPO itself was the largest in history, raising $85.7 billion at a valuation near $2 trillion, with investors now looking for updates on Starlink, exploration plans, and the Starship rocket that underpins them all.

Also reporting this week is AMD, Nvidia's closest rival in the race to build AI chips, and a key bellwether for the broader AI infrastructure boom. The stakes are high: major hyperscalers — Alphabet, Meta, Microsoft, and Amazon — have committed to nearly $2.4 trillion in AI-related spending in the years ahead, and AMD has guided for Q2 revenue as high as $11.5 billion, up from $10.25 billion in Q1. The stock has more than doubled this year despite a recent pullback, making this report a real-time test of whether the AI spending story still has investors' confidence.

The week's most interesting data story

Conviction visualized: ETH staking sets a recordEthereum's staking base just hit a new milestone: a record 41.2 million ETH — roughly 33.8% of total supply — is now locked up, the highest share in the network's history. New validators are facing a 43-day wait to join the queue, but the more telling number sits on the other side of the ledger: the exit queue is nearly empty. Almost nobody is unstaking, even with ETH trading below recent highs. That's a meaningful signal in its own right. Rather than short-term positioning, it points to real conviction — institutions increasingly treat staking yield as simply part of holding ETH, with the long-term thesis intact regardless of near-term price swings.

The numbers

The week’s most interesting numbers62% to 38% — Calls vs. puts in Bitcoin's options market, still tilted bullish on a medium-term view even as short-term hedging picked up.

4 straight weeks, $365.2 million — Spot Ether ETFs' winning streak and their total net inflows for July.

$1.5 billion — Cumulative net inflows across spot XRP ETFs, crossing that mark for the first time since launching in November 2025.

$172.4 million — Bitcoin ETFs' net inflows for July, breaking a two-month streak of monthly outflows.

$1.1 billion — Cumulative inflows into Solana spot ETFs, now ahead of XRP's on a per-fund-category basis.

Hot topic

What the community is discussingIs this the cycle’s absolute bottom?

Have Bitcoin HODLers switched storage for safety?

You know what to do when Bitcoin starts taking over X again.

Dispatch is a weekly publication by Nexo, designed to help you navigate and take action in the evolving world of digital assets. To share your Dispatch suggestions and comments, email us at [email protected].

In an interview broadcast on “The Wolf Of All Streets,” a well-known channel in the sector, the institutional transformation that the cryptocurrency market has undergone and the price dynamics of Bitcoin were discussed in detail.

The program, moderated by Andrew Parish, featured Bitwise Chief Investment Officer (CIO) Matt Hougan, Bitwise Research Analyst Ryan Rasmussen, and Arch Public CEO Tillman Holloway. The broadcast discussed the reasons behind Bitcoin’s lack of reaction to the $100 million security breach in the individual cold wallet ecosystem, and how Wall Street dominates the sector.

At the program’s opening, Andrew Parish questioned why the $100 million cold wallet vulnerability didn’t cause any market crash, noting that a similar incident a few years ago could have caused sharp drops of 10% to 20%.

Commenting on the situation, Bitwise Research Analyst Ryan Rasmussen stated that the market has clearly matured from individual Bitcoin holders to institutional investors. Rasmussen said that the vast majority of new investors are entering the market through spot ETFs or licensed and regulated custody services such as Coinbase and Anchorage. Therefore, he added, vulnerabilities focused on individual cold wallets affect only a very small fraction of the total market participants and do not create widespread panic.

Matt Hougan, Investment Director at Bitwise, stated that the market has become resilient to negative news in the current cycle. Hougan noted that sellers have been exhausted and the remaining investor profile is exhibiting an unwavering stance, adding that the presence of institutional capital is reducing the pressure of bad news on prices.

Arch Public CEO Tillman Holloway stated that a “changing of the guard” is taking place in the cryptocurrency sector. Recalling that in the past, price movements were driven by miners and individual crypto exchanges, Holloway said that today, control has completely passed to Wall Street and institutional capital.

Commenting on market expectations, Matt Hougan argued that there is a huge gap between the pessimistic atmosphere on social media and the approach of Wall Street financial giants. He noted that giant institutions like Morgan Stanley, Wells Fargo, and UBS operate with long-term, 10-year strategies, and that the traditional financial world views the current price pullbacks not as a collapse, but as a normal buying opportunity within a four-year cycle.

Ryan Rasmussen reported that portfolio managers with decades of experience are beginning to include crypto assets in their portfolios, similar to past technology revolutions. Rasmussen stated that research teams at major banks are recommending Bitcoin allocations of between 1% and 6% to their clients, and that the risk factor has decreased at the career and institutional level as the asset has become integrated into traditional financial indices.

*This is not investment advice.

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The US Dollar Index (DXY) trades near 100.02 on Tuesday after last week’s sharp rejection from 101.50. The greenback is battling to reclaim the psychological 100 mark, according to Trading Economics data.

Markets price roughly 55% odds of a September Federal Reserve rate hike. At the same time, coordinated currency intervention and falling oil prices pull the index in the opposite direction.

Fed Hike Bets Collide With Yen InterventionFundamentals have turned dollar-friendly on the monetary policy side. July’s ISM Manufacturing Purchasing Managers Index (PMI) jumped to 55.6, its strongest reading since May 2022.

Three Federal Open Market Committee (FOMC) members also dissented in favor of a hike in July, when rates held at 3.50% to 3.75%. Prediction market Kalshi prices a 25-basis-point September hike at 53%, with CME FedWatch showing similar odds.

FED rate hike decision probabilities / Source: KalshiHowever, official pressure works against the dollar. The US and Japan confirmed coordinated yen intervention after USD/JPY weakened to 40-year lows near 164.

Falling energy prices add to the bearish side. Oil dropped around 5% on Monday after Washington and Tehran agreed to restart talks, easing inflation pressure.

Dollar direction also matters beyond forex. A firmer greenback has repeatedly pressured gold and Bitcoin (BTC) in 2026.

US Dollar Index Weekly Chart Shows the Rally Stalling Below 102The weekly chart frames the move within a wide macro range. DXY topped at 110.176 in January 2025 and bottomed at 95.551 on January 27, 2026.

The recovery from that low stalled in July near 101.50. That area holds the 0.382 Fibonacci retracement at 101.14, just below the May 2025 swing high at 101.977.

DXY weekly chart / Source: TradingviewLast week, sellers pushed the index back below the 100.30 to 100.60 resistance zone. The drop ended at an ascending trendline that connects to the January low.

Meanwhile, the weekly Relative Strength Index (RSI) sits near 50. The reading offers neither bulls nor bears a clear momentum edge.

LevelSignificance101.98May 2025 swing high, main upside target101.140.382 Fibonacci retracement100.30 to 100.60Resistance zone that needs to flip into support99.49Trendline and June swing low confluence99.000.236 Fibonacci retracementDXY Price Prediction Rests on the 99.49 Support ConfluenceThe daily chart strengthens the bullish structure argument. An ascending trendline from the February low has now held twice, on May 6 and again on August 3.

The latest bounce also coincided with the June 17 swing low at 99.491. That confluence makes 99.49 the most important support on the chart.

Momentum tells a different story. Daily RSI reads 38, below the neutral zone but not yet oversold. The reading suggests sellers still control short-term momentum despite the intact trend.

DXY daily chart / Source: TradingviewA daily close above 100.60 could open the path to 101.14 and then 101.977, roughly 2% above the current price. In contrast, losing 99.49 would expose the 0.236 Fibonacci level at 99.008, about 1% lower.

The calendar could decide the fight. ISM Services PMI lands on Wednesday, and the July jobs report follows on Friday, August 7. The Fed’s data-dependent stance adds weight to each release after last week’s GDP and PCE inflation data.

Until either side wins the battle for 100, DXY remains trapped between hawkish Fed pricing and official selling pressure.

Trading activity in the cryptocurrency market has slowed significantly, with weekly trading volume falling to its lowest level since 2026. According to the latest data shared by Kaiko, a data and analysis provider for digital asset markets, the total trading volume in the cryptocurrency market last week was approximately $15 billion. This figure represents a significant decline compared to levels at the beginning of the year.

According to Kaiko’s analysis, the highest trading volume of the year was recorded in January. At that time, the total volume in the markets was approximately three times the current level. According to the latest data, trading volume has decreased by approximately 70% compared to the peak level in January.

Experts say the decline in trading volume reflects a weakening of investors’ risk appetite. They note that in a low-volume environment, price movements in the market can become more fragile, and even relatively small buy or sell orders can increase volatility. Therefore, investors are advised to be more cautious about sudden price fluctuations during periods of low liquidity.

According to market analysts, there are multiple reasons behind the decline in trading volume. Ongoing uncertainties in the global economy, cautious expectations regarding central bank monetary policies, increased selectivity among institutional investors, and the seasonal slowdown in trading traditionally seen during the summer months are among the main factors supporting this decline.

However, experts also point out that low trading volume alone is not an indicator determining the long-term direction of the market. They note that historically, periods of prolonged low volume in the cryptocurrency market have been followed by a return to strong trading activity.

Funding flows, particularly into spot Bitcoin and Ethereum ETFs, along with macroeconomic developments and upcoming regulatory steps, are expected to play a decisive role in the renewed increase in trading volumes in the coming period.

Analysts say that trading volumes could recover if investor confidence strengthens and new capital inflows into the market accelerate. However, the current outlook indicates that investors in the cryptocurrency market remain cautious, and trading activity has fallen to one of its weakest periods of the year.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!

Aug 4, 2026, 7:53 a.m.

3 min read

Jim Cramer (Getty Images)Summary

Jim Cramer says he plans to sell all of his bitcoin, citing fears that advances in quantum computing could undermine cryptocurrency security within three to four years.Many crypto traders are cheering Cramer’s planned exit, treating it as a bullish signal given his predictions record of high profile misses. Bitcoin has held near $64,000 despite Cramer’s warning, a Coldcard hardware wallet hack, rising bond yields and sales by major corporate holder Strategy.Jim Cramer wants out of bitcoin BTC$63,987.77 and the crypto community’s reaction is positive.

The "Mad Money" host said this week that he plans to sell all of his bitcoin holdings due to concerns that advancements in quantum computing could threaten cryptocurrencies within the next three to four years.

The comment followed his July 31 interview with IBM Chairman and CEO Arvind Krishna, who told Cramer that quantum computers could challenge modern cryptography within that window and that investors should be "paranoid" about the risk.

Neither the size of Cramer's bitcoin stash nor any wallet tied to him has been disclosed, or tracked by analytics firms, so there's no way to independently verify whether he actually holds BTC or has started selling his coins.

Some in the crypto community are buoyed by Cramer’s plan to exit the market.

“Jim Cramer did it again. Bitcoin just received the strongest buy signal of 2026,” a self-proclaimed bitcoin maximalist X user Alex said.

Several others have made similar comments but BTC has remained resilient around $64,000 despite the Coldcard hack incident and rising bond yields.

Inverse Cramer?The reaction of the crypto community can be explained by Cramer’s reputation as a contrary indicator in the industry. The "inverse Cramer" trade, betting against whatever he recommends, became such a running meme that an entire ETF was built around it. The Inverse Cramer Tracker ETF (SJIM) launched in 2023 to short his public calls; it shut down in early 2024 after failing to gather meaningful assets.

This reputation is not without foundation. Cramer’s prediction history is marked by notable flip flops and high profile misses.

In December 2017, right as bitcoin was climbing toward its first run at $20,000, he called it "monopoly money" and said buying it was pure gambling and not investing. In September 2020, he supposedly bought the cryptocurrency around $10,000 after a podcast conversation with investor Anthony Pompliano, and later added more that year.

The reversals kept coming. In June 2021, he sold most of his bitcoin holdings, citing China's crackdown on crypto mining. Prices went on to hit lifetime highs near $70,000 by November 2021.

In January 2024, he warned of a "nasty" bitcoin selloff following the debut of spot bitcoin ETFs in the U.S. While prices did drop slightly to $40,000, the decline was anything but nasty and by March, prices had rallied to $70,000.

Cramer changed his view in January 2025, calling bitcoin “a great thing to have in portfolio” and urging investors to own the token themselves instead of seeking an indirect exposure through bitcoin-holding firm Strategy (MSTR).

Last month, he swung bearish, calling bitcoin and gold "bad money" that’s being liquidated in favor of high-growth names like SpaceX, Apple and Nvidia. Now, in August 2026, he's planning a full exit.

Cramer's most damaging recent miss came in traditional banking. On Feb. 8, 2023, he told viewers Silicon Valley Bank was undervalued, describing it as a merchant bank that Wall Street had "mistakenly" grown concerned about.

A month later, SVB collapsed in the second-largest bank failure in U.S. history at the time.

For now, bitcoin's price hasn't shown any sign of taking Cramer's quantum warning seriously.

In fact, the token has remained resilient at around $64,000 despite the Coldcard hack, and Strategy’s disclosure of BTC sales.

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The Evolution of the Crypto CEX Landscape: A Case Study on Binance

The Evolution of the Crypto CEX Landscape: A Case Study on Binance

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

Jun 29, 2026

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

Why it matters:

Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.

Bitcoin rose about 1.6% to trade near $63,700 on Aug. 4 after CNBC host Jim Cramer said he planned to sell his holdings because of concerns about quantum computing.

Summary

Cramer said he plans to sell Bitcoin after IBM chief Arvind Krishna raised quantum concerns. Bitcoin traded near $63,700, gaining 1.6% despite Cramer’s warning and weak spot market liquidity conditions. Google estimates fewer than 500,000 physical qubits could eventually break widely used elliptic curve cryptography. Glassnode classifies 1.92 million Bitcoin, or 9.6% of supply, as structurally exposed to quantum attacks. A 16,400 Bitcoin whale transfer moved funds between wallets, not onto any identified cryptocurrency exchange. Cramer tied the decision to a CNBC interview with IBM Chairman and CEO Arvind Krishna. Krishna said investors should become “paranoid” about cryptocurrency security within three to four years. Cramer later said, “I’m going to sell mine.” Neither the size of his holdings nor evidence of an executed sale has been disclosed.

Bitcoin rises despite Cramer’s sell plan Bitcoin climbed from an intraday low near $62,387 to as high as $64,117 before easing. The recovery left the asset about 1.6% higher over 24 hours, although the price remained inside the range that has controlled trading since the June decline.

The market reaction does not prove traders dismissed Cramer’s warning. Bitcoin was also absorbing Strategy’s recent sale, miner distribution estimates and the Coldcard security incident. As crypto.news reported, buyers continued defending the area above $60,000 despite those pressures.

The TradingView daily chart supplied with the story shows Bitcoin consolidating after its sharp June decline. Support remains near $60,000, while $65,000 to $67,000 is the main resistance zone. Volume near 5,950 BTC appeared modest compared with earlier selloff periods, suggesting the rebound still lacked strong participation.

A sustained move above $67,000 would strengthen the recovery case. Until that happens, the price remains range bound rather than in a confirmed new uptrend.

Quantum warning describes a future risk Krishna’s three to four year estimate is a forecast, not proof that a quantum machine can currently break Bitcoin. IBM’s official roadmap targets a large scale, fault tolerant system called Starling for 2029. The company says the planned machine would use 200 logical qubits and perform 100 million quantum operations. IBM has not claimed that Starling could recover Bitcoin private keys.

Google Quantum AI tightened the theoretical risk estimate in March. Its researchers said a future cryptographically relevant quantum computer could solve the elliptic curve problem used by many digital assets with fewer than 500,000 physical qubits under stated hardware assumptions. The estimate was about 20 times lower than previous calculations.

However, Google described this as a future capability. It urged blockchains to begin moving toward post quantum cryptography before such machines become available. Current systems do not have the scale and error correction needed to conduct the proposed attack.

Glassnode has measured which Bitcoin outputs could face exposure if that capability emerges. Its May analysis classified 1.92 million BTC, or 9.6% of issued supply, as structurally exposed because the associated public keys are already visible.

It placed another 4.12 million BTC in an operationally exposed category linked largely to address reuse and custody practices. Glassnode explicitly said its study did not predict whether or when a practical quantum attack would become possible. As crypto.news reported, the figures measure exposure rather than an active theft risk.

Whale transfer and thin trading add caution Blockchain tracker Lookonchain reported that a wallet holding 16,400 BTC, worth about $1.04 billion, transferred its full balance to a new address after seven months of inactivity.

The transaction was a wallet to wallet movement. The funds did not go directly to an identified exchange, meaning the transfer does not establish that the holder was preparing to sell. It may have reflected custody changes, security measures or internal wallet management.

Market depth remains a separate concern. The Kobeissi Letter, citing Kaiko data, said daily spot activity across 44 exchanges fell to about $15 billion, around 70% below its January peak.

Crypto trading activity is declining:

Daily trading volume across the 44 spot crypto exchanges tracked by Kaiko fell to ~$15 billion last week, the lowest level of the year.

This marks a -70% decline from January peak levels.

By comparison, in February, there were 2 trading… pic.twitter.com/GxXPnew03l

— The Kobeissi Letter (@KobeissiLetter) August 4, 2026 The underlying Kaiko dataset was not available in a public report reviewed for this article. The $15 billion figure should therefore remain attributed to the post rather than treated as an independently confirmed market total.

Social media users also revived the “inverse Cramer” meme, which treats his bearish calls as contrarian buy signals. The meme reflects several widely discussed calls that later moved against him, but it is not a tested indicator and does not explain Bitcoin’s price movement by itself.

Bitcoin must reclaim $67,000 Bitcoin’s immediate test remains the $65,000 to $67,000 resistance band. A sustained close above that area, supported by stronger volume, would improve the short term structure. Failure to maintain the current recovery could return attention to $62,000 and then the key $60,000 support level.

The longer term question is whether developers, exchanges and custodians accelerate preparations before quantum computers become cryptographically relevant. Bitcoin companies have begun funding post quantum research, while BitGo recently introduced four wallet controls designed to measure and reduce public key exposure.

Cramer’s statement does not change Bitcoin’s current security, and no practical quantum computer is known to have broken its cryptography. The next verified developments would include evidence that Cramer completed a sale, movement of the 16,400 BTC toward an exchange, stronger spot volume or measurable progress on Bitcoin’s post quantum migration plans.

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.

₿ Strategy Sells $105M in Bitcoin to Prop Up Its Own Preferred Stock

Strategy sold 1,638 BTC for $104.7 million last week, according to an 8-K filed Monday, cutting its stack to 842,138 coins from the 843,775 it had held since early July. The BTC was sold at an average of $63,957, roughly $11,500 below the company’s $75,419 cost basis, so Strategy is selling Bitcoin at a loss. It hasn’t bought any since June 22, its longest pause ever. They also sold $291M in MSTR shares.

Of the proceeds, $52.4 million funded dividends on Strategy’s preferred stock, and $52.3 million went toward an $81 million buyback of its STRC preferred shares, the second such repurchase in two weeks under a $1 billion program. The rest of the funds went to cash reserves, now up to $4 billion and what the company calls 2.3 years of runway.

Take a step back and realize what is happening. STRC has traded below its $100 par value since mid-May, so Strategy is now selling Bitcoin at a loss and diluting common shareholders through MSTR sales to prop up the preferred stock (STRC), whose slide has been weighing on the whole structure. It’s not great.

Additionally, Saylor’s messaging has shifted completely from the “never sell” era. In fact, he even came out and said yesterday that “When I say ‘Never Sell Your Bitcoin,’ I speak as one saver to another. I have never sold mine.” That, of course, is a pivot from earlier messaging where he went as far to say, “Sell a kidney if you must. But keep the Bitcoin.” Again, not great.

When I say “Never Sell Your Bitcoin,” I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet. Since 2020, it has disclosed it may buy or sell $BTC to manage capital. Our shared conviction in Bitcoin remains unchanged.

— Michael Saylor (@saylor) August 3, 2026

As for Bitcoin, it has absorbed a week filled with very bad news with the $100M+ Coldcard hack and Saylor dumping $100M himself. And yet, the price is flat on the week. Negative news is no longer impacting the price. Perhaps a sign for where we’re at in the market cycle…

🌎 Macro Crypto and Markets Crypto majors are green; BTC +2% at $63.8k; ETH +2% at $1,870; SOL +2% at $73.90; HYPE +5% at $55.50 Top alt movers include ATOM (+8%), PUMP (+6%) and AVAX (+6%) Oil even at $79.50; Gold +0.6% at $4,115 Stock futures are green on new earnings beats; DOW +0.7%, Nasdaq +0.9% Solana's fee-burn and disinflation proposals entered an initial vote on Monday, a pair that would double annual disinflation to 30%, cut emissions by $1.36B over six years, and raise daily burns from 650 SOL (~$47K) to 9,000 SOL (~$646K) BlackRock launched tokenized money market funds on Solana and Ethereum, a new vehicle for stablecoin reserves that records ownership onchain via Securitize while investing entirely in cash and short-term Treasurys The Coinbase BTC Premium Index just set a record for longest negative streak at 78 days, indicating a long lack of buy pressure from U.S. retail Telegram was briefly removed from the Apple App store, causing the GRAM token to briefly sell off by 10% (now down 1%) A former FBI counterintelligence agent was charged with stealing ~$1 million in crypto from wallets tied to investigations, then asking ChatGPT how to invest it and move to Europe Corporate Treasuries & ETFs

The Bitcoin ETFs saw $170M in net inflows on Monday; the ETH ETFs saw $12M in outflows Tom Lee's BitMine bought another 10,399 ETH, lifting its stash to nearly 5.8 million ETH, about 4.8% of supply, and repurchased 4.5 million of its own shares Meme Coin Tracker

Meme leaders were green; DOGE +2%, SHIB +4%, PEPE +2%, PENGU +1%, TRUMP +2%, BONK even Robinhood chain was led by Cashcat (+43%), Tendies (+54%) and Frong (+25%); Stonkbroker rebounded 5% to $40M Solana leaders included DOOM (+130x), Tiktok (+115x) and OnlyMarms (+440%); CATE fell from $80M to $10M in a nasty sell off, ending the day down 30% at $30M 💰 Token, Airdrop & Protocol Tracker The Fomo app broke into the top 10 US finance apps on Apple's App Store, while also posting its biggest week with $378m in trading volume, $2M+ in fees and averaging 34k traders/day Robinhood Chain’s TVL passed $400M for the first time on Monday Pump Fun’s weekly revenue hit its highest level since March 2026, raking in $9.23M (PUMP +6%) POAP announced it’s winding down operations after 5 years, citing difficulties in maintaining profitability without “cannibalizing” its ethos 🚚 What is happening in NFTs? NFT leaders were green; Punks even at 32.3 ETH, BAYC +3% at 8.41 ETH, Pudgy +1% at 3.88 ETH; Stonkbrokers -7% to 6.4 ETH Pitboys (+43%), Cashcats (+50%) and Zaibatsu (+540%) led top movers TokenWorks announced 80% buybacks for FWA using platform fees once the token goes live for trading today at 3 pm ET, using 10% of existing fees to build a team treasury, and lower fees to use the platform

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

New data shows individual investors still hold the majority of Bitcoin supply, outpacing institutions, corporations, funds, and government wallets.

Summary

New data shows individuals still hold roughly two-thirds of Bitcoin, outweighing institutions and ETFs. Most Bitcoin is still held by private investors, with institutions controlling only a small share, data shows. Institutions may be buying Bitcoin, but individuals still account for the largest share of holdings. The past few years have been filled with talk about how institutions have swallowed up the Bitcoin supply. Yet data shows that an overwhelming amount is still held by individuals.

Surprisingly, new data has shown that individuals still retain the most Bitcoin by market share. They hold significantly more than businesses, funds, and ETFS, and even Satoshi-era wallets. Over the past few years, there has been much speculation about the buy-and-hold tactics of corporations and institutions. Yet it may be individuals who are choosing to cling to their crypto.  

Bitcoin’s current market segmentation With the global geopolitical situation in turmoil, people have been flocking away from risk assets like cryptocurrency in droves. At the time of writing, Bitcoin price stands at $63,730. In the past five days, it has moved within a margin between $60,000 and $65,000, with little sign of breaching the upward curve. For many, this shows that people are not buying, but also not selling, creating stagnation. Yet it is those who hold cryptocurrencies that throw up the most surprises.

A recent study taken from public wallet data has shown that individuals hold 66% of the Bitcoin supply. Mapping wallets that are known to interact with exchanges, custodians, and large holders, it painted a picture of marginal institutional and corporate holdings. In contrast, only 7.8% was given over to businesses, with 7.2% in funds and ETFS. Satoshi-era wallets had 4.6%, while governments held only 2.1%.

Together, the entire institutional investment sector, incorporating businesses and trading bodies, only holds 15% of the supply. Accounting for the remainder, only 4.5% of Bitcoin is left to be mined. An estimated 7.7% of the remainder has been lost. That means 19% spans the other categories, with the rest, roughly two-thirds, held by private individuals.

The social media paradox This also dispels a recent theory that a lack of social media chatter regarding Bitcoin and Ethereum has been driven by institutional adoption. In July, data was published that showed mentions of the two terms were at their lowest levels in two months on the platform X. Bitcoin mentions had dropped to around 130,000, while Ethereum had fallen to 40,000 per week.

Reports on the data highlighted this as a shift to institutional buying. In particular, many highlighted it as a regression to a time back in 2020, before the institutional era emerged. Yet the new data suggest that there may be other reasons at play, especially as institutions do not hold the amount that people believed.

Firstly, it could be that X is just losing users. This is a trend that has been ongoing, with 33 million users leaving between January 2024 and 2025. These people may have drifted to other places to discuss cryptocurrency. It could be on Reddit, or it could be on private messaging apps like Telegram.

It could also be that people are just going elsewhere for their information. With crypto more widely known about, people are more savvy. Regulatory announcements and the inflows and outflows of ETF products all provide better benchmarks than a speculator on X.

Lastly, crypto may not be as new and exciting as it once was. It has given way to talks about tokenization, and even AI has grabbed many of the headlines that it once promised as a harbinger of a brave new world. As it is no longer the coolest, newest cat in town, less is being spoken about it. By no means does this mean people have lost interest, but it simply signals that people are now accepting it.

How should this impact trading? During periods of volatility, retail investors are often prone to more emotional trading. They can sell and buy fast, as opposed to companies that have to make long-term decisions, signed off by many people. This has mainly been the reason given for Bitcoin’s current stagnation.

Yet it seems that the opposite is true and that retail investors are actually building resilience. HODL is the sector name for “Hold on for dear life,” which means you keep hold of Bitcoin until it grows exponentially in value. Many investors have held on through tumultuous market cycles. In fact, whales who are private buyers who hold large amounts can often change market courses if they begin to buy up or even dump their cryptocurrency. This suggests that they still do play a huge part in the direction prices can take.

What this does show is that despite what media outlets and those in the crypto industry are saying, the field is still extremely decentralized. For all the hype of institutional adoption and government backing, Bitcoin, particularly, is still held by individuals. Those wanting to see how this changes in the near future must watch inflows and outflows to ETF products, as well as changes to government legislation, not just in the US but beyond. 

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

Some reports claimed that the stolen money is somewhere around $130 million already. And, it's still increasing.

Just a few days after admitting to a key vulnerability that left millions and millions worth of BTC in jeopardy, the team behind the self-proclaimed ‘best bitcoin hardware wallet’ published a key message urging users to migrate their funds.

Coldcard’s official X account informed customers that they should “treat this as urgent” and move their funds. The posts added that they have to follow the advisory of their models, upgrade their devices, generate a new seed, and “carefully” move their funds.

Please treat this as urgent. Migrate your funds. Follow the advisory for your model, upgrade your device, generate a new seed, and carefully move your funds.

Help spread the word, especially to people who are less online and may not see this update.

The threat is still ongoing. https://t.co/cbJxJles8x

— COLDCARD (@COLDCARDwallet) August 4, 2026

The Coldcard saga unraveled at the end of July. Some users first issued warnings online that their funds, stored on the hard wallet, had disappeared before the team admitted to a critical vulnerability in the code.

According to the latest estimations by Galaxy Research, the confirmed amount stolen is over $100 million. Some reports noted that the actual number could be around $130 million.

Market commentator Joe Consorti argued earlier that the attacker may struggle to spend a large portion of the swiped BTC since every BTC is being tracked on the public blockchain.

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About the author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.

PANews, August 4 — According to Cointelegraph, Bernstein analysts said that Texas’s suspension of approvals for data center projects connecting to the state grid is expected to have no significant impact on most bitcoin mining companies, because most Texas mining sites already have approved power capacity contracts.

Previously, Texas Governor Greg Abbott asked the Public Utility Commission of Texas (PUCT) and grid operator ERCOT to review all data center projects applying to connect to the grid, in response to the power strain and public backlash caused by the rapid expansion of data centers.

Bernstein believes the review will limit speculative data center projects, while projects with a development history and already approved power resources will become more valuable. Bitcoin mining companies, with their long construction cycles, self-built infrastructure, and local operating experience, may benefit from this.

Analysts pointed out that companies such as Cipher Mining (CIFR), Core Scientific (CORZ), and CleanSpark (CLSK) may face some approval pressure for their future expansion plans, while IREN (IREN) and Riot Platforms (RIOT) may have a stronger competitive advantage because they already have power capacity approved by ERCOT.

Bernstein stated that as approvals for new data center projects tighten, approved power capacity (MW) will become an increasingly scarce asset.

The leading cryptocurrency, Bitcoin, has been trading in a narrow range recently. While BTC continues to hold the $60,000 level, on-chain data analyst Axel Adler stated that if Bitcoin falls below $61,500, selling pressure in the market could intensify further.

Accordingly, Axel Adler examined the BTC UTXO stress indicator in his latest blog post.

The analysis indicated that Bitcoin has re-entered a high-stress zone as the BTC UTXO indicator rose above the critical threshold of 70 to 71.58.

According to the analyst, this indicates that a significant portion of the circulating Bitcoin supply is in loss territory, and pressure on investors is increasing again.

The analyst noted that approximately a year ago, the same indicator was at 41, and the market exhibited a more neutral outlook.

Adler stated that stress had gradually decreased over the past month, but the weekly momentum turning positive at +3 indicates that stress and selling pressure are starting to increase again.

Adler stated that if the indicator falls below 70 and momentum remains negative, stress and selling pressure will decrease. However, conversely, if BTC falls below its monthly low of around $61,500 and the indicator rises above 90, selling pressure on BTC could increase further, leading to further declines.

In context, Adler argues that the short-term outlook for Bitcoin largely depends on whether the price can hold critical support levels and on changes in on-chain data, while an options whale believes Bitcoin will not surpass $70,000 before September 25th.

Giant Whale Sets a $70,000 Limit for Bitcoin! An anonymous, large-scale options investor sold $173 million worth of Bitcoin call option contracts, betting that Bitcoin would not rise above $70,000 before September 25th.

If Bitcoin fails to surpass the $70,000 strike price at expiry, the investor will retain their $3.03 million option premium. However, if Bitcoin rises above $70,000, the position will start to incur a loss.

*This is not investment advice.

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Citigroup just added another 238,538 shares of Strategy (NASDAQ: MSTR) to its portfolio, spending roughly $22 million on the purchase. The move brings Citi’s total position in the Bitcoin treasury company to 961,554 shares, now valued at approximately $90.5 million.

The slow and steady accumulation This latest buy wasn’t Citi’s first rodeo with Strategy shares. The bank had previously scooped up 723,016 shares valued at around $41.2 million, making this new purchase a meaningful escalation of its existing bet.

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Citi also initiated research coverage of MSTR on October 21, 2025, slapping a Buy/High Risk rating on the stock with a price target of $485 per share.

Why Strategy and not just Bitcoin Strategy, formerly known as MicroStrategy, has transformed itself into what is essentially a Bitcoin holding company wrapped in a NASDAQ-listed equity. Its Bitcoin treasury reportedly exceeds 840,000 BTC, making it by far the largest corporate holder of the cryptocurrency on the planet.

The trade-off is that MSTR often trades at a premium or discount to its underlying Bitcoin net asset value, depending on market sentiment. When optimism runs high, investors pay more per share than the Bitcoin backing would justify. When fear creeps in, the discount can be punishing.

What this signals for institutional crypto adoption The broader trend is unmistakable. Strategy has positioned itself as a delivery mechanism for institutional Bitcoin exposure, using equity and preferred stock offerings to fund its Bitcoin purchases while giving institutional investors a regulated vehicle to ride along.

The $485 price target Citi assigned when it initiated coverage suggests the bank sees meaningful room for the stock to appreciate from current levels.

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

Bitcoin may have already erased half of its market cap, but veteran crypto investor Michael Terpin says the asset still has further to fall before hitting rock bottom.

“We still have more pain to go,” Terpin tells Cointelegraph on the Trade Secrets show. Terpin believes that Bitcoin will ultimately fall “66%” from its October 2025 all-time high of $126,100. “I think that brings us down into the 40s, and I think that’s about where we’re gonna go,” Terpin says. 

To be precise, a 66% drop from the ATH would see Bitcoin changing hands for $43,500, a price the asset has not seen since early February 2024. The 68-year-old investor, often referred to as the “Godfather of Crypto,” has seen Bitcoin plunge enough times to know what a true bottom feels like. 

The ‘defining hallmarks’ of a Bitcoin bottomTerpin doesn’t think markets have seen true capitulation yet. “One of the defining hallmarks of the bottom is that it doesn’t pop back,” Terpin says.

Michael Terpin spoke to Cointelegraph on the Trade Secrets show. Source: Cointelegraph

Terpin points out that greed is invariably why most traders fail to time market cycles correctly. He points to Bitcoin’s previous cycle top in November 2021, when the asset reached around $69,000 before entering an extended consolidation period. “You had quite a bit of time to get out over $60,000. But then everybody thought it was going to $100,000,” Terpin says, “remember the laser eyes?”

Terpin wasn’t confident back then that Bitcoin would reach $100,000. “I thought there was a possibility it could go to a hundred, but I thought the sweet spot was going to be eighty-five. And it obviously underperformed that because of all the bad macro,” Terpin says.

“We’ve had two cycles in a row now with bad macro. And you would have expected good macro from Trump, but the tariffs, and some of the other things that allowed a lot of manipulation,” Terpin says.

Bitcoin ultimately reached $100,000 in December 2024, just a month after Donald Trump won the US presidential election.

Terpin worked with Ethereum in its early stagesTerpin was an early investor in the crypto industry and is the founder and CEO of blockchain advisory firm Transform Ventures. 

Through his company, he worked with several projects during their early development stages that went on to become major names in the industry, including Ethereum, Tether, and WAX. He was also an advisor to Mastercoin, the world’s first initial coin offering (ICO) in 2013. It later became known as Omni Layer.

Terpin claims he was the first crypto investor to relocate to Puerto Rico, which is known for its crypto-friendly tax policies. Since moving, he has also invested in and helped fund several startups based on the island. 

Michael Terpin says four-year cycle is not overHe is convinced that Bitcoin is still following its traditional four-year cycle, despite the industry debate in 2025 that institutional adoption and the launch of spot ETFs may have changed the market’s usual boom-and-bust pattern.

Bitcoin is up 1.67% over the past 30 days. Source: CoinMarketCap

“I think we’re still following the halvings. This whole argument that, you know, we’re only going up from here because institutions don’t sell is garbage, right? Institutions absolutely sell.”

Terpin is also cautious about companies built around Bitcoin exposure, including Strategy and its executive chairman Michael Saylor’s aggressive Bitcoin accumulation strategy.

Buying Strategy stock or Bitcoin?While acknowledging Saylor’s success, Terpin says investors should understand the risks of investing in a corporate structure rather than owning the underlying asset.

“I mean historically, you’ve done better if you buy Strategy at the bottom and then sell it at the top than if you buy the Bitcoin,” Terpin says. “Whether he’s [Michael Saylor] able to keep that going, and you know, he avoided being wrecked in 2022 when he was actually underwater with his Bitcoin.” But Terpin would personally “rather bet on Bitcoin than a single company.”

And indeed, investors looking for a low maintenance approach should also bet on Bitcoin rather than chasing altcoins, which require far more active management.

“You only have to look at your portfolio like a couple times during the four-year cycle,” Terpin says.

“When we’re getting near the bottom, see if it’s time to buy. And when we’re getting near the top, see when it’s time to sell. And the rest of the time you can just be on the golf course. Whereas with altcoins, you gotta be, you gotta be on it,” Terpin says.

Cointelegraph publishes long-form journalism, analysis and narrative reporting produced by Cointelegraph’s in-house editorial team with subject-matter expertise. All articles are edited and reviewed by Cointelegraph editors in line with our editorial standards. Some articles contain affiliate links, from which Cointelegraph may earn a commission. These relationships do not influence which products we review or our editorial conclusions. Content published in here does not constitute financial, legal or investment advice. Readers should conduct their own research and consult qualified professionals where appropriate. Cointelegraph maintains full editorial independence.

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

TL;DR

GRAM/Telegram App Store incident: Apple pulled Telegram worldwide over a content-policy violation on Aug. 4, causing the GRAM price to drop by over 6% to $1.297 before rebounding to $1.3818 after Telegram removed the content and Apple restored the app hours later.XRP-backed RLUSD loans: Flare's wrapped FXRP token is now approved collateral in Sentora's $280 million lending vault on Morpho Blue, letting large XRP holders borrow Ripple's RLUSD stablecoin without selling their XRP.Bitcoin undervaluation signal: CryptoQuant's UTXO Age Bands data shows "young" BTC supply at a multi-year low — a pattern last seen at the 2015, 2019, and 2022 cycle bottoms — pointing to an accumulation phase, with a bull cycle expected closer to 2027.ETF flows vs. wallet hack: U.S. spot Bitcoin ETFs added $170.1 million on Aug. 3, while spot Ethereum ETFs saw $11.42 million in outflows. In the meantime, a Coldcard hardware-wallet exploit stole roughly 1,596 BTC worth around $130 million from about 7,300 addresses.How Apple's temporary ban sent the GRAM token on a price rollercoasterOn the night of Aug. 4, the GRAM token took investors on a real rollercoaster ride, instantly falling by more than 6% to $1.297 before sharply recovering to $1.3818. The price turbulence was caused by Telegram's sudden removal from Apple's App Store.

The application temporarily disappeared from Apple's marketplaces worldwide, including in the United States, India, Australia, and Singapore. According to Reuters, the trigger was user-generated content that violated the platform's rules. Telegram's developers quickly removed the violating content and blocked its author, after which Apple fully restored the messenger to the marketplace.

HOT Stories

GRAM token intraday price action amid Apple's App Store temporary ban on Telegram messenger, Source: TradingViewTraders' reaction to the ban news formed a deep red candle on the intraday GRAM/USDT chart by TradingView. However, the sell-off did not continue. As soon as the application returned to the marketplace, buyers aggressively bought the dip, forming a powerful green candle and returning the asset to its previous trading range.

Perhaps the main takeaway for cryptocurrency investors is that, despite strong fundamental support in the form of Pavel Durov's direct backing and announcements of integrated wallets, GRAM remains hostage to the regulatory risks surrounding Telegram, which is already attracting close attention from authorities in France and Australia.

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XRP-backed loans: RLUSD stablecoin gains new source of liquidityLarge XRP holders can now obtain dollar liquidity against their tokens without having to sell them. This became possible after Flare Networks' wrapped FXRP token was officially approved as collateral in Sentora's lending vault on the Morpho Blue platform on Ethereum.

The pool allocated for these operations totals $280 million.

Sentora, the institutional curator, added the asset to the listing after a detailed analysis of the token's market behavior, decentralized oracle performance, and automatic liquidation mechanisms.

The lending chain works in three stages: users mint FXRP on Flare at a 1:1 ratio to XRP through the FAssets protocol, transfer it to Ethereum through the Stargate bridge, and lock it in the pool as collateral to borrow Ripple's regulated RLUSD stablecoin.

Overview of new FXRP/RLUSD pool on Ethereum, Source: Morpho"This is something we have been working toward for a while," Flare Networks co-founder Hugo Philion commented on the launch. He emphasized that the lending market curated by Sentora "opens the door for much larger FXRP lending markets and for institutions that hold billions of XRP to participate." In effect, the project has deployed full-scale lending rails for large capital directly on the Ethereum mainnet.

According to the developers, the integration addresses the issue of XRP's utility in the DeFi sector while simultaneously stimulating the issuance of the stablecoin itself.

As the next step, the Flare team is already designing a smart account system that will automate the process and transfer liquidity directly from XRPL into RLUSD.

Only diamond hands left: CryptoQuant signals Bitcoin is deeply undervaluedBitcoin is stuck in a zone of deep undervaluation, while total apathy has taken over the market — and for long-term investors, this is the best possible signal. Fresh on-chain analysis from CryptoQuant shows that the current calm closely mirrors market behavior at the bottom of previous cycles.

The main indicator here is the age of coins on the network, measured by the UTXO Age Bands metric. The share of "young" capital — Bitcoin that has been actively traded during the past month — has fallen to a critical low. This means that casual speculators and retail investors have completely lost interest in crypto and left the market.

Bitcoin's UTXO age bands in context of historical BTC price bottoms, Source: Crypto Dan via CryptoQuantBitcoin's supply is now almost entirely controlled by long-term holders who are simply maintaining their positions and refusing to sell the asset at current prices.

The same picture of total boredom and a shortage of actively traded coins has been recorded on the chart only three times in history: in 2015, 2019, and 2022. Each time, this phase preceded the beginning of a major reversal.

According to the on-chain analysis, Bitcoin has already entered a bottoming structure from the perspective of its four-year cycles. It is impossible to identify the exact price bottom down to the dollar, but the current price range represents a classic accumulation zone ahead of the next major bull market, which analysts expect closer to 2027.

Crypto market outlook: Institutions hold Bitcoin despite ETH outflows and hardware wallet uncertaintyInstitutional capital is stabilizing the market, with a one-day inflow into U.S. spot Bitcoin ETFs offsetting recent selling pressure and fears surrounding isolated hacking incidents.

While Bitcoin remains in a range just below key technical barriers, the long-term trend is shifting toward the deep integration of tokenized deposits by major global banking institutions such as Wells Fargo.

Key checkpoints:

ETF momentum accelerates: After a period of uncertainty, U.S. spot Bitcoin funds recorded net inflows of $170.1 million on Aug. 3, 2026. BlackRock's IBIT led the market with $111.43 million in inflows, while spot Ethereum ETFs recorded a modest outflow of $11.42 million.Bitcoin consolidation range: The leading cryptocurrency is trading within a consolidation range between $56,300 and $66,000. Despite a bullish divergence on the daily RSI after it reached oversold territory, a clean breakout above the nearest local resistance is required to initiate a sustainable growth scenario.Major hardware wallet vulnerability: Galaxy Research confirmed that an exploit targeting a Coldcard vulnerability resulted in the theft of 1,596 BTC from approximately 7,300 addresses. Total estimated losses involving at least 15 coordinated hackers could reach 2,000 BTC, worth approximately $130 million.Commercial tokenization takes root: Wells Fargo, with $2.2 trillion in total assets, officially announced the upcoming launch of tokenized deposits for corporate clients this fall. The initiative, built on a proprietary blockchain, is targeting 24/7 settlements by mid-2027 in cooperation with JPMorgan and Citigroup. You Might Also Like