Bitcoin (BTC) fell to its lowest levels in over two weeks on Friday as US stocks saw pressure into the monthly close.
Key points:
Bitcoin approaches $62,000 as daily losses hit 3.5%.US stocks saw no positive reactions to relief in Asia, where stocks rebounded after the semiconductor sell-off.Analysis warns that Bitcoin bear-market history should continue to repeat in August.
Bitcoin price targets $62,000 in month-end volatilityData from TradingView showed BTC/USD falling 3.5% to reach $62,369 on Bitstamp, a level last seen on July 14.
US stocks turned red at the open before treading water, diverging from a major relief bounce seen in Asia. There, South Korea’s KOSPI index ended the day up 17.9%, its largest single-day gain on record.
KOSPI index one-day chart. Source: Cointelegraph/TradingView
“Semiconductor shares led both the sell-off and the subsequent recovery, reflecting the index’s high exposure to the global AI and memory-chip cycle,” trading company QCP Capital wrote in commentary on the latest macro market moves.
QCP noted that crypto market trading activity increased around the KOSPI gyrations, something it said “highlighted the growing relationship between crypto liquidity, regional equity positioning and broader technology-sector sentiment.”
Both Japan and Korea reportedly engaged in currency interventions on Thursday, while Japan’s central bank kept benchmark interest rates at 1.0%, following the US Federal Reserve’s decision to stand pat on Wednesday.
Bitcoin traders see bear-market history repeating in AugustBTC/USD approached the end of the monthly candle up 8.5%, marking its strongest July performance since 2022, per data from CoinGlass.
Previously, traders had anticipated a relief bounce for the pair lasting until August, mirroring the 2022 bear market and ultimately reaching its next long-term bottom.
Trader and analyst Rekt Capital, among those seeing BTC price action copying bear-market moves from four years ago, forecast that the tide might not turn immediately.
“It’s likely price will try to maintain these highs in the early stages of August but history suggests price could rollover just like it did in 2022,” he wrote in a post on X on Friday.
Rekt Capital reiterated that Bitcoin’s 50-month exponential moving average (EMA), currently at $65,820, continued to act as resistance after two failed breakouts since mid-June.
BTC/USD one-day chart with 50-month EMA. Source: Cointelegraph/TradingView
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
On July 31, roughly $700 million in fresh open interest was added to Bitcoin futures contracts across major exchanges. The timing is what makes it interesting: this capital didn’t flow in during a breakout or a euphoric pump. It showed up while BTC was consolidating near its recent floor.
What the open interest surge actually means Open interest measures the total number of outstanding derivatives contracts that haven’t been settled. When it rises, it means new money is entering the market, not just existing positions being shuffled around.
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A $700 million increase at price lows suggests traders are rebuilding leveraged long positions, essentially betting that the current price level represents a floor rather than a rest stop on the way down. On-chain and derivatives analysts who flagged the move shared chart data showing the open interest spike concentrated on major exchanges, reinforcing that this is a broad-based phenomenon rather than an anomaly on a single platform.
The liquidation risk nobody wants to talk about When $700 million in leveraged positions gets stacked up near support levels, if those support levels crack, leveraged longs stacked near the bottom become liquidation fodder. Forced selling from liquidated positions pushes price lower, which triggers more liquidations, which pushes price lower still.
Analysts tracking the move have emphasized this exact tension. The open interest buildup creates conditions favorable for a bounce, but it simultaneously raises the stakes if the market decides to test those support levels with any conviction.
What this means for investors Derivatives markets often lead spot markets. When futures traders collectively decide to bet on higher prices, that positioning can become self-fulfilling as the resulting price action attracts spot buyers who see momentum building.
The key levels to watch are whatever support zones held during this recent low. If price stays above them and open interest continues building, the probability of a relief rally increases meaningfully. If price slips below them with this much leverage in the system, the $700 million in new positions represents $700 million in new liquidation fuel sitting on the books.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bond yields have been going up since the beginning of the Iran war, widely attributed to inflation expectations due to energy pricesHowever, the five-year inflation expectation priced into Treasury Inflation-Protected Securities is 2.2% and trending down since MayThe driver appears to be rising real yields with bearish implications for yield-free assets like Bitcoin Continuation of Q2 bond sellingAfter yields reached local lows in early March, US government debt has been undergoing a multi-month sell-off. This week, after the most recent meeting of the Federal Open Market Committee (FOMC), 30-year Treasury yields made headlines by reaching the highest level since 2007.
In line with the two-year yield rising 76 basis points (bps) in this window, a September rate hike by the Federal Reserve is priced into the markets at 63%, according to CME FedWatch.
2Y, 10Y and 30Y US Treasury Yields. Data Source: Treasury.gov
With rates at these elevated levels, government bond investments are, for the first time since 2019, more profitable than cash-and-carry trades in the crypto markets, as per Glassnode’s latest research.
2Y US Treasury yield and crypto futures carry trade. Source: Glassnode
The mainstream inflation narrativeThe reason for the bond sell-off is commonly taken to be the inflationary pressures from higher commodity and energy prices. The multi-month bond sell-off coincides with the start of the Iran war and resulting closure of the Strait of Hormuz. Furthermore, the daily closes of the two-year US government bond yield, West Texas Intermediate (WTI) and Brent Crude have correlated since March at a coefficient of r=0.44:
Daily closes of WTI and Brent Crude against 2Y Yield. Data Sources: fred.stlouisfed.org, EIA
WTI briefly rose once again above $85 a barrel on Thursday after President Donald Trump threatened Iran and bonds sold off leading into the FOMC. Nothing about the conflict suggests a near-term resolution, which has led some to argue that higher rates are being caused by inflation expectations.
WTI (West Texas Intermediate) oil price chart. Source: Tradingeconomics.com
This has driven loud inflation scares through the mainstream financial press, with recent Bloomberg headlines, such as “Global Bonds Are Reeling as Oil Surge Rekindles Inflation Threat”, “US Yields Hit Two-Month High as Oil Sparks Inflation Risk” or “Global Bond Selloff Worsens as Rising Oil Prices Spook Investors”. Among the ever-inflation-aware crypto and precious metals audience, this narrative is popular, too:
Market commentator and Bitcoin influencer The Wolf of All Streets recently posted on X:
However, the way other Treasury securities trade does not support the inflation-driven narrative for bond yields.
TIPS say rate rises are ‘real’While most analysts and commentators focus on regular Treasury yields for their analysis, Treasury Inflation-Protected Securities, or TIPS, have offered clear signs against the inflation narrative.
A Treasury Inflation-Protected Security (TIPS) is an ordinary treasury bond for which the principal payment is adjusted upward in line with the Consumer Price Index for All Urban Consumers (CPI-U). In addition to the inflation-protected principal, each TIPS carries a fixed coupon rate. Thus, unlike for a regular bond, both principal and interest payments are inflation-adjusted.
By comparing the yield of a TIPS with a regular, equally dated Treasury, the expectation of future CPI inflation can be estimated as the so-called breakeven rate. And although Treasury yields have been rising, the five-year breakeven rate has gone down sharply since May.
At roughly 2.2%, the five-year breakeven expects the Fed to achieve its 2% target in the medium term. However, more telling is that the breakeven rate has been moving in the opposite direction to the nominal treasury yields.
While the five-year nominal yield rose 33 bps, TIPS data suggests this was the result of an 84 bps rise in the real yield, partially offset by a 51 bps decline in expected inflation. While the inflation narrative remains a compelling story, the marketplace says otherwise. The real story ought to be a rise in real yields.
What it may mean for cryptoGenerally, rising “real” investment returns on bonds and stocks in terms of CPI make non-yielding assets such as Bitcoin relatively less attractive to certain investors. Beyond this, the impact on the crypto market depends on the explanation for higher real rates, of which several are available.
Reserve liquidation — No clear impact on Crypto. Higher oil prices widen trade deficits for Asian energy importers. As oil is generally priced and settled in US dollars, shortages in the local eurodollar markets in Asia have occurred, which has put their exchange rates under pressure. The Japanese yen (JPY), Philippine peso (PHP) and Indian rupee (RBI) have all required central bank intervention to defend their exchange rates. As these measures are funded by the sale of US Treasury reserves, this puts upward pressure on bond yields. HSBC’s Frederic Neumann is on record attributing the bond sell-off to FX pressure rather than a verdict on the dollar.
Demand destruction — Bearish for Crypto. An oil shock that persists long enough stops being inflationary and starts triggering a recession. Neuberger Berman argued in its second-quarter outlook that investors are underpricing the hit to output from sustained energy prices. The credit contraction that coincides with a recession would be bad for equities and Bitcoin by severely restricting liquidity. In a real sign of recessionary credit events, credit spreads are expected to widen. Cointelegraph reported on possible first signs of this on Wednesday.
Investment demand — Likely bearish for Crypto. Real rates may have also responded to expected growth and the demand for capital from the AI sector. Government bond issuance is increasingly competing with the record issuance of corporate bonds from AI hyperscalers. Goldman Sachs Research projects roughly $755 billion of AI capex in 2026 and about $920 billion in 2027. UBS has raised its 2026 investment-grade issuance forecast to $1.8 trillion, with technology supply lifted to $360 billion on hyperscaler guidance. As crypto is competing for a similar pool of capital and investor cohort, this is likely to suppress the sector.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
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Bitcoin slid 2.9% to hit $63,018 on Monday, its lowest price in 11 days, as American equities drifted sideways while Asian markets staged a relief bounce.
Ether had it worse. ETH dropped 4.1% during the same session, underperforming Bitcoin on the downside.
What’s driving the selloff Markets are pricing in the possibility of Federal Reserve rate hikes at a time when oil prices have pushed past $100 per barrel on the back of geopolitical tensions in the Middle East.
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Concerns about reduced AI and technology spending, amplified after Alphabet’s recent earnings report, dragged the Nasdaq Composite lower.
President Trump’s tariff policies added another layer of uncertainty.
South Korea’s KOSPI index dropped more than 10%, triggering circuit breakers designed to pause trading during extreme moves. Asian markets showed volatility across the board, though several indices managed to bounce from their worst levels. That recovery didn’t translate to US markets, which closed the session in mixed territory.
Bitcoin’s shrinking range BTC has been confined to a $63,000 to $65,000 range in late July, a far cry from the levels above $88,000 it reached earlier in the cycle. That’s a decline of roughly 28% from those highs.
What’s particularly notable is how Bitcoin initially showed some resilience during the session before ultimately closing near its lows.
The correlation problem The deepening correlation between crypto and the Nasdaq in particular has become one of the defining features of this market cycle. When AI spending fears hit tech stocks, Bitcoin drops. When oil prices spike and rate expectations shift, Bitcoin drops.
The key levels to watch are the $63,000 floor that held on Monday and whether any bounce can push back above $65,000 with conviction.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Iran has been dodging sanctions by accepting pay in Bitcoin from ships passing through the Strait of Hormuz, according to a Friday announcement from the U.S. Treasury’s Office of Foreign Assets Control.
The OFAC sanctioned the companies tied to the Iranian regime accused of doing so. Ships have barely been passing through the strategic Strait of Hormuz, where a fifth of the world’s oil passes through, since the U.S. and Israel attacked Iran in February.
In the statement, OFAC said that Hormuz Safe, developed by Iran’s Ministry of Economy, “accepts payment in Bitcoin and other digital assets” so it can bypass sanctions.
“With its economy in freefall and inflation in the triple digits, the regime is desperate for cash,” Secretary of the Treasury Scott Bessent said in a statement.
“The United States will not allow Iran to hold global commerce hostage or use international shipping to finance the IRGC’s terrorism, aggression, and repression.”
The OFAC statement added that two firms — the Persian Gulf Marine Insurance Company (PGMIC) and HormuzSafe Marine Services Authority (“Hormuz Safe”) — accused of running an IRGC-backed scheme forcing commercial vessels to buy mandatory “insurance” to transit the Strait of Hormuz.
Bloomberg first reported in May that Iran had started a Bitcoin-backed insurance service for Iranian shipping companies.
The U.S. earlier this month announced that it had frozen crypto linked to the Iranian regime, mostly in the form of the Tether stablecoin.
Stablecoins like Tether’s USDT can be frozen by the company that issues the asset but Bitcoin, being decentralized and having no single issuer, cannot.
Experts have warned that a recession could follow due to the war between the U.S. and Iran due to high oil prices if the Strait of Hormuz remains closed.
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.
ToplineBitcoin on Friday fell to its lowest level in weeks after Strategy, the world’s largest institutional backer of the leading cryptocurrency, announced plans to offload billions of dollars worth of crypto amid a weaker-than-expected earnings report.
The largest institutional holder of bitcoin has shifted to selling its position in recent months.
VCG via Getty Images
Key FactsThe price of bitcoin dropped 3.1% over the last 24 hours to around $62,702 as of Friday afternoon, after falling as low as $62,498 earlier in the day, the crypto’s lowest level since July 9.
A slide followed Strategy announcing quarterly revenue of $122.4 million on Thursday, just below consensus analyst estimates of $122.9 million, and CEO Phong Le said during Strategy’s earnings call the company had discussed plans to sell up to $5 billion of bitcoin.
Le said the bitcoin sale is “appropriate for the company” because it allows Strategy to build up its cash reserves and potentially fund stock repurchases, and while the figure could be much smaller, Strategy founder Michael Saylor cautioned it could be larger.
Shares of Strategy declined 7.3% on Friday, extending a roughly 42% loss so far this year.
forbes valuationSaylor, who founded Strategy, then known as MicroStrategy, in 1989, has an estimated net worth of $3.2 billion as of Friday. He emerged as a leading executive during the dot-com bubble, after which Saylor’s fortune shrank, but Strategy’s bitcoin investments made him a billionaire once again as he directed the firm to shift its corporate coffers into cryptocurrency.
big number843,775. That’s Strategy’s total bitcoin holdings, which the company priced at an aggregated market value of $63.8 billion, or about $75,476 per token, as of July 6.
key backgroundStrategy’s bitcoin reserves far outweigh its cash holdings, which totaled $1.4 billion as of last month. The firm announced its first bitcoin sale in years in June, sparking a sell-off in the leading cryptocurrency to below $60,000, effectively cutting its value by more than 100% since hitting an all-time high above $126,000 in October. Saylor defended Strategy’s approach to bitcoin, claiming “volatility tests capital structure” and reaffirmed Strategy “remains focused on bitcoin, disciplined capital allocation, credit quality and long-term value creation.” JPMorgan analysts cautioned that Strategy should add to its cash reserves, however, arguing the move would “restore confidence and reduce investor concerns.”
further readingForbesBillionaire Saylor ‘Focused On Bitcoin’ As Strategy Shares Plunge And Analysts Caution Against BuyingBy Ty Roush
The crypto market has shown signs of stabilizing after June’s sell-off. Still, the evidence for a sustained recovery remains incomplete.
Recent Bitcoin ETF inflows have improved sentiment, yet market structure, altcoin participation, and institutional demand have not fully aligned. Until those signals strengthen together, the latest rebound remains vulnerable to another pullback.
Total market value must reclaim key resistance The TOTALES index, which tracks the crypto market excluding stablecoins, fell 2.95% to approximately $1.85 trillion, slipping back below its 20-day exponential moving average [EMA] at $1.89 trillion.
Reclaiming that level would improve short-term momentum, but the more important test sits between $1.94 trillion and $1.96 trillion.
That area repeatedly capped rallies throughout July. A decisive move above it would establish a higher high and provide stronger evidence that the broader market trend is turning positive.
Source: TradingView On the downside, immediate support remains near $1.84 trillion. Losing that level could expose $1.80 trillion, followed by the June support region around $1.74-$1.76 trillion.
Altcoins need to join the recovery One of the clearest signs that the current rebound remains incomplete is the weakness across smaller cryptocurrencies.
Market capitalization excluding Bitcoin, Ether, and stablecoins stood near $374.5 billion, remaining below the descending trendline that has capped rallies since May.
That trendline currently sits around $390 billion.
Source: TradingView A breakout above it could open the way towards $400-$405 billion, signalling that buying interest is broadening beyond the largest cryptocurrencies.
Conversely, a move below $370-$372 billion would increase the risk of another decline towards June’s support near $360 billion.
The contrast between the two market-cap charts suggests Bitcoin and Ether have led most of the recent recovery. At the same time, many altcoins continue to post lower highs.
ETF demand needs to remain consistent Institutional demand has shown tentative signs of improvement.
According to SoSoValue data, US spot Bitcoin ETFs attracted $32.1 million on July 29, followed by another $233.1 million on July 30, bringing two-day inflows to $265.2 million.
However, the products still recorded a combined $261.3 million in net outflows across the previous six completed trading sessions.
Ethereum ETFs presented an even weaker picture.
Although the funds attracted $12.8 million on July 30, they still recorded a net outflow of $43.4 million over the same six-session period.
That divergence suggests institutional appetite for Bitcoin is improving, but has yet to broaden across the wider crypto market.
Meanwhile, the Federal Reserve maintained interest rates at 3.50%-3.75%. At the same time, three policymakers voted for an immediate increase, leaving the prospect of tighter monetary policy on the table.
Will crypto recover in 2026? For now, the market has yet to produce the combination of technical and fundamental signals that typically accompanies a sustained bull phase.
A stronger recovery would likely require:
The total crypto market is expected to reclaim $1.89 trillion before breaking above $1.96 trillion. Altcoins to break above $390 billion, showing that buying is spreading beyond Bitcoin and Ether. Bitcoin ETF inflows to remain positive while Ethereum ETFs and broader institutional demand also begin to recover. Until those conditions align, the latest rebound should be viewed as an encouraging improvement rather than confirmation of a lasting market recovery.
Final Summary Crypto’s recovery remains incomplete, with market structure, altcoin participation, and institutional demand still falling short of full confirmation. A sustained rebound would require stronger price action, broader market participation, and more consistent ETF inflows across both Bitcoin and Ethereum.
Bitcoin fell sharply to its lowest level in over two weeks on Friday, dropping alongside US stocks as markets experienced heightened volatility ahead of the monthly close. Major cryptocurrencies came under pressure, reflecting a turbulent period influenced by global equity moves and shifting investor sentiment.
Bitcoin price nears $62,000 amid global market turbulenceBTC/USD slipped to $62,369 on the Bitstamp exchange, setting a new low not seen since July 14. The decline represented a 3.5% daily drop, placing Bitcoin near the $62,000 mark as it tracked broader risk-off behavior in financial markets.
US stock indices also opened lower on Friday, diverging from strong gains reported in Asian equity markets. The KOSPI index in South Korea jumped 17.9% during the session, achieving its biggest single-day advance ever.
QCP Capital, a trading company known for its macro market analysis, attributed the Asian rally and subsequent effects on crypto markets to the performance of semiconductor shares. The firm indicated that the sell-off and rebound in chipmakers underscored the KOSPI’s significant exposure to developments in the AI and memory-chip sectors.
QCP Capital also commented on increased crypto trading volumes coinciding with the KOSPI surge, emphasizing a notable link between cryptocurrency liquidity, Asian equity positioning, and broader sentiment in the technology sector.
Recent movements in crypto trading mirrored the swings in the KOSPI index, underscoring a deepening correlation between crypto, regional equities, and technology sector confidence, according to QCP Capital.
Meanwhile, both Japan and South Korea reportedly intervened in currency markets on Thursday in response to financial volatility. The Bank of Japan kept its benchmark interest rate steady at 1.0%, following a similar decision by the US Federal Reserve to maintain current rates earlier in the week.
Mini dictionary: KOSPI is the Korea Composite Stock Price Index, representing all stocks traded on the Stock Market Division of the Korea Exchange. It is widely used as a benchmark for South Korean equities.
Market analysts warn of repeating bear trends in AugustBitcoin’s slide comes as the monthly candle for July draws to a close, with BTC up 8.5% for the month—its best July result since 2022, according to figures from CoinGlass.
MonthBTC Monthly ReturnBest July SinceJuly 2024+8.5%2022Several market participants had predicted a temporary relief bounce for Bitcoin extending into early August, drawing parallels to the 2022 bear market, which eventually led to a new long-term price bottom.
Rekt Capital, a well-followed crypto analyst and trader, cited similarities to previous bear markets and suggested that Bitcoin could face renewed downside pressures in August. He noted Bitcoin’s struggle to break past the 50-month exponential moving average (EMA), which currently stands at $65,820, after two unsuccessful attempts since mid-June.
Rekt Capital suggested that while Bitcoin may try to hold current price levels in early August, previous bear market cycles imply a potential rollover reminiscent of 2022 patterns.
These technical hurdles keep traders cautious as they monitor key resistance levels and broader macroeconomic developments that might affect digital asset prices in the coming weeks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The cryptocurrency market broadly corrects on Friday, as investors assess macro uncertainty and geopolitical tensions, which continue to escalate in the Middle East. Bitcoin (BTC) is trading below $64,000, down from the weekly high of $65,745. Altcoins such as Ethereum (ETH) and Ripple (XRP) are trading under increasing selling pressure below $1,900 and $1.10, respectively.
Risk appetite has continued to wane this week, with the Fear & Greed Index slipping to 25, firmly in Fear territory, down from 28 just a day earlier.
Crypto Fear & Greed Index | Source: AlternativeETF inflows extend despite inflation concernsThe Federal Reserve (Fed) left interest rates unchanged in the 3.50%-3.75% range on Wednesday. Three of the central bank officials dissented, favoring a 25 basis point hike, which raised inflation concerns, “driving a sharp repricing across rates and equities before strong earnings helped stabilize sentiment,” as highlighted by analysts at Crypto Finance.
Institutional investors appear to be gazing beyond the macro uncertainty and Middle East war headlines. Inflows into spot Exchange-Traded Funds (ETFs) increased to $233 million on Thursday, from $32 million the previous day. According to SoSoValue data, BTC ETFs’ cumulative inflows are nearly $52 billion, underscoring the long-term positive investor outlook.
Bitcoin ETF flows | Source: SoSoValueEthereum spot ETF inflows have been largely nuanced this week, with roughly $13 million on Thursday. Outflows totaled $19 million on Wednesday, following $9 million and $15 million in inflows on Monday and Tuesday.
Ethereum ETF flows | Source: SoSoValueAs for XRP spot ETFs, inflows surged to nearly $6 million on Thursday, up from a mere $585,000 the day before. So far this week, cumulative inflows stand slightly above $7 million through Thursday. The surge underpins growing risk-on sentiment for XRP investment products, despite the overall crypto market’s dull outlook.
XRP ETF flows | Source: SoSoValueTechnical Analysis: Bitcoin falters amid a dominant bearish outlookBitcoin trades around $63,969, keeping a bearish near-term tone as it holds below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs). The short-term 50-day EMA at $64,904 is the nearest cap overhead, reinforcing a corrective bias while price stays under this cluster of longer-term averages.
Momentum conditions are soft, with the Relative Strength Index (RSI) hovering just below the midline on the daily chart and the Moving Average Convergence Divergence (MACD) histogram in negative territory, which together suggest downside pressure is still present even if not yet impulsive.
BTC/USDT daily chartImmediate resistance emerges at the 50-day EMA around $64,904, followed by the 100-day EMA at $67,460, while the 200-day EMA at approximately $72,977 forms a more strategic barrier that would need to be reclaimed to ease the broader downside risk. On the downside, the absence of nearby indicator-based supports on this timeframe implies that any further slide could seek validation from prior price lows and round-number areas including $62,000 and $60,000, respectively.
"The inability of bears to gain meaningful traction is becoming almost as notable as the absence of a fresh bullish catalyst," analysts at Crypto Finance added.
Altcoin technical outlook: Ethereum and XRP face renewed headwindsEthereum trades near $1,890, extending its decline from the weekly high of $1,981. Meanwhile, the pair remains capped beneath the 100-day EMA around $1,932 and well below the 200-day EMA at $2,173, keeping the broader tone bearish despite holding above the 50-day EMA around $1,850.
The spot price is hovering around a descending resistance trendline pivot, suggesting that sellers are still defending the recovery, while the RSI near 54 hints at only modest positive momentum and the MACD slipping into negative territory suggests rallies could continue to struggle against overhead supply.
ETH/USDT daily chartOn the topside, immediate resistance lies at the nearby descending trendline pivot around $1,892, with a break higher exposing the 100-day EMA at $1,932, followed by a stronger barrier at the 200-day EMA near $2,173. On the downside, the 50-day EMA around 1,850 offers initial support. A daily close below this moving average would reinforce the bearish bias and open the door to a deeper retracement toward lower levels like $1,800 and $1,600, respectively.
XRP, on the other hand, trades at $1.07, keeping a bearish near-term tone as price holds below the 50-day, 100-day, and 200-day EMAs at $1.13, $1.21, and $1.41, respectively. Momentum indicators align with this capped structure, with the RSI hovering near 44 and the MACD line remaining slightly negative, which together suggest that any rebounds are likely to face selling pressure while the pair trades under these clustered EMAs.
XRP/USDT daily chartInitial resistance appears around the 78.6% Fibonacci retracement above $1.12, closely followed by the 50-day EMA at $1.13, forming a nearby supply band. Above that, the 100-day EMA at $1.21 and the 61.8% Fibonacci retracement at $1.22 mark the next hurdles before the broader Fibonacci barriers at $1.28 and $1.34. The 200-day EMA at $1.41 and the 23.6% Fibonacci retracement at $ 1.42 reinforce a higher-term cap.
On the downside, the main structural support is seen at the 100.0% Fibonacci level near $1.01, where buyers may look to defend the prior swing low if the current decline extends.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
The crypto market extended its decline on Friday as a global risk-off move swept across financial markets, dragging down Bitcoin, Ethereum, XRP and most major altcoins.
The total cryptocurrency market capitalization fell 2.4% over the past 24 hours to around $2.16 trillion, while liquidations topped $335 million.
Bitcoin And Altcoins FallBitcoin (BTC) slipped below $63,000, trading near $62,600 after falling more than 3% in the past 24 hours. Ethereum (ETH) dropped to around $1,856, while XRP traded near $1.06, extending losses alongside the broader market.
Other large-cap cryptocurrencies also moved lower. Solana (SOL) fell to about $72.90, Dogecoin (DOGE) slipped below $0.07, and Hyperliquid (HYPE) declined to around $54.40. Even traditionally resilient assets like BNB and TRON posted losses.
Global Markets Trigger Risk-Off SentimentThe sell-off was driven primarily by macroeconomic developments rather than crypto-specific news. According to market reports, the Federal Reserve and the Bank of Japan both left interest rates unchanged this week. The decisions reinforced expectations that interest rates could stay elevated for longer, reducing appetite for risk assets such as cryptocurrencies.
Market sentiment worsened after reports suggested US authorities could intervene in currency markets to support the Japanese yen. Following the reports, the S&P 500 reversed sharply, erasing nearly $1 trillion in market value within about 40 minutes as investors rushed to unwind positions linked to the yen carry trade.
The same risk-off mood quickly spread into cryptocurrencies.
Yen Carry Trade Adds PressureThe strengthening yen has renewed concerns about the unwinding of the yen carry trade, a strategy where investors borrow cheaply in Japan to invest in higher-return assets elsewhere. As the yen rises, many of those leveraged positions become less attractive, forcing investors to reduce exposure across equities and digital assets simultaneously.
That has increased selling pressure on Bitcoin and the broader crypto market.
Altcoins Face Profit-TakingBeyond macro concerns, several altcoins also came under pressure after strong recent rallies.
Traders booked profits across higher-risk tokens following weeks of gains, while sentiment was further weakened by reports of a $40 million Bitcoin theft involving Coldcard wallets, adding another layer of caution across the market.
What Investors Are Watching NextMarkets are now turning their attention to upcoming US economic data, particularly the Non-Farm Payrolls report due next week.
A stronger-than-expected jobs report could reinforce expectations that the Federal Reserve will keep interest rates higher for longer, potentially extending pressure on cryptocurrencies.
For now, Bitcoin remains the key asset to watch. If it stabilizes, broader crypto sentiment could improve. However, continued macro uncertainty is likely to keep volatility elevated across Bitcoin, Ethereum, XRP and the wider digital asset market.
Story Ends Here
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NVIDIA overtakes Apple in market capitalization, regaining the title of the world's most valuable company.
According to market data from BIT (bit.com), Apple Inc.'s stock price once extended its decline to 10%, marking the largest intraday drop since April 2025, as its Q4 revenue guidance fell short of expectations. The company's current market capitalization stands at $4.39 trillion. NVIDIA's stock rose 1.55% today, with its market cap reaching $4.797 trillion, surpassing Apple to once again become the world's most valuable company by market capitalization.
13 minutes ago
Iran claims to have closed the Strait of Hormuz, U.S. Central Command denies.
Local time on July 31, the U.S. Central Command (CENTCOM) stated that "the Iranian government's renewed claim that it has closed the Strait of Hormuz is false." CENTCOM added that "the Strait of Hormuz remains open for merchant vessel traffic; Iran does not control the strait," noting that "thousands of ships have transited this international waterway over the past four months." Earlier on July 31, Iran's Persian Gulf Strait Administration issued a statement saying that due to the U.S. military's continued aggressive operations in the relevant waters, the Strait of Hormuz is currently not normally navigable. (Source: CCTV)
13 minutes ago
Jensen Huang: "Now is the best time in history to start a business—don’t overthink ‘how hard can it be’."
According to Fortune, NVIDIA CEO Jensen Huang told attendees at Y Combinator’s Startup School 2026 that the present is the best time in history to launch a company, advising young entrepreneurs not to overthink due to rapid technological shifts or fear of failure. When facing challenges, he suggested asking himself: “How hard can it be?” Huang emphasized that entrepreneurs don’t need all the answers from day one; the core is being willing to confront reality and continuously learn. In NVIDIA’s early days, the company bet on the wrong graphics technology. When the team lacked solutions, he purchased three technical textbooks and gave them to his engineers. He noted that as long as one retains a learning mindset, specific technologies themselves are not the most critical factor. That said, Huang doesn’t believe success comes easily. He revealed he still works seven days a week and has long worried about the company collapsing; this sense of vulnerability, uncertainty, and insecurity has never faded. His advice: don’t imagine all difficulties in advance, lest anxiety derail action, but let challenges arise gradually and solve them one by one. Data shows U.S. business applications hit a record 3.23 million in the first half of 2026, up 12.1% year-over-year. However, startup risks remain high: U.S. Bureau of Labor Statistics data indicates nearly half of businesses cease operations within five years of launch.
13 minutes ago
Trump’s approval rating has dropped to its lowest level since his second term.
Political analyst Nate Silver said that due to the ongoing unpopular Iran war and surging natural gas prices, President Trump’s approval rating has dropped to its lowest point since his second term this month. He noted, “The timing aligns closely with the rebound in natural gas prices and the resumption of hostilities in Iran.” As the war nears its sixth month, data from the American Automobile Association (AAA) shows that as of Friday morning, the average U.S. gasoline price stood at around $4.11 per gallon, up from roughly $3.15 a year ago. According to polling averages from Decision Desk HQ, Trump’s overall average approval rating was 40.6% as of Friday morning, while his average disapproval rating reached 57.5%. A Quinnipiac University poll found that 60% of U.S. voters oppose the war, the highest opposition rate recorded since the conflict began on February 28. Nearly three-quarters of Americans said they oppose deploying U.S. troops to Iran. An AP-NORC poll also showed that 64% of Americans consider the war “not worth it”; among them, 87% of Democratic voters, 37% of Republican voters, and 68% of independent voters hold this view. (Jin10)
13 minutes ago
Tom Lee: South Korean stock market may be in the final stage of bottoming out
Chairman Tom Lee of Bitmine, the largest Ethereum treasury company, posted a statement saying that given South Korean policymakers have begun showing "panic", South Korea's stock market may be in the final stage of bottoming out. He cited the view of David Tepper, founder of Appaloosa and a well-known fund manager, stating: "When policymakers start panicking, the market stops panicking."
NVIDIA overtakes Apple in market capitalization, regaining the title of the world's most valuable company.
According to market data from BIT (bit.com), Apple Inc.'s stock price once extended its decline to 10%, marking the largest intraday drop since April 2025, as its Q4 revenue guidance fell short of expectations. The company's current market capitalization stands at $4.39 trillion. NVIDIA's stock rose 1.55% today, with its market cap reaching $4.797 trillion, surpassing Apple to once again become the world's most valuable company by market capitalization.
8 minutes ago
Iran claims to have closed the Strait of Hormuz, U.S. Central Command denies.
Local time on July 31, the U.S. Central Command (CENTCOM) stated that "the Iranian government's renewed claim that it has closed the Strait of Hormuz is false." CENTCOM added that "the Strait of Hormuz remains open for merchant vessel traffic; Iran does not control the strait," noting that "thousands of ships have transited this international waterway over the past four months." Earlier on July 31, Iran's Persian Gulf Strait Administration issued a statement saying that due to the U.S. military's continued aggressive operations in the relevant waters, the Strait of Hormuz is currently not normally navigable. (Source: CCTV)
8 minutes ago
Jensen Huang: "Now is the best time in history to start a business—don’t overthink ‘how hard can it be’."
According to Fortune, NVIDIA CEO Jensen Huang told attendees at Y Combinator’s Startup School 2026 that the present is the best time in history to launch a company, advising young entrepreneurs not to overthink due to rapid technological shifts or fear of failure. When facing challenges, he suggested asking himself: “How hard can it be?” Huang emphasized that entrepreneurs don’t need all the answers from day one; the core is being willing to confront reality and continuously learn. In NVIDIA’s early days, the company bet on the wrong graphics technology. When the team lacked solutions, he purchased three technical textbooks and gave them to his engineers. He noted that as long as one retains a learning mindset, specific technologies themselves are not the most critical factor. That said, Huang doesn’t believe success comes easily. He revealed he still works seven days a week and has long worried about the company collapsing; this sense of vulnerability, uncertainty, and insecurity has never faded. His advice: don’t imagine all difficulties in advance, lest anxiety derail action, but let challenges arise gradually and solve them one by one. Data shows U.S. business applications hit a record 3.23 million in the first half of 2026, up 12.1% year-over-year. However, startup risks remain high: U.S. Bureau of Labor Statistics data indicates nearly half of businesses cease operations within five years of launch.
8 minutes ago
Trump’s approval rating has dropped to its lowest level since his second term.
Political analyst Nate Silver said that due to the ongoing unpopular Iran war and surging natural gas prices, President Trump’s approval rating has dropped to its lowest point since his second term this month. He noted, “The timing aligns closely with the rebound in natural gas prices and the resumption of hostilities in Iran.” As the war nears its sixth month, data from the American Automobile Association (AAA) shows that as of Friday morning, the average U.S. gasoline price stood at around $4.11 per gallon, up from roughly $3.15 a year ago. According to polling averages from Decision Desk HQ, Trump’s overall average approval rating was 40.6% as of Friday morning, while his average disapproval rating reached 57.5%. A Quinnipiac University poll found that 60% of U.S. voters oppose the war, the highest opposition rate recorded since the conflict began on February 28. Nearly three-quarters of Americans said they oppose deploying U.S. troops to Iran. An AP-NORC poll also showed that 64% of Americans consider the war “not worth it”; among them, 87% of Democratic voters, 37% of Republican voters, and 68% of independent voters hold this view. (Jin10)
8 minutes ago
Tom Lee: South Korean stock market may be in the final stage of bottoming out
Chairman Tom Lee of Bitmine, the largest Ethereum treasury company, posted a statement saying that given South Korean policymakers have begun showing "panic", South Korea's stock market may be in the final stage of bottoming out. He cited the view of David Tepper, founder of Appaloosa and a well-known fund manager, stating: "When policymakers start panicking, the market stops panicking."
In brief Coinkite says a build error meant seeds on its Coldcard hardware wallets were drawn from a software fallback instead of the hardware generator. It believes an attacker used AI on its open-source code, and says its own AI review weeks earlier found nothing. Every current model is affected to some degree, and updating the firmware does not repair a seed already created. Coinkite believes an attacker used AI to find a flaw that has cost owners of its Coldcard hardware wallets tens of millions of dollars in Bitcoin, and says its own AI review of the same code weeks earlier turned up nothing.
The hardware wallet manufacturer published an advisory for its Mk3 and a technical breakdown on Thursday, after learning that seeds generated by its devices were far more guessable than intended.
COLDCARD Mk3 Security Advisory
If you generated a seed on a Mk3 after firmware 4.0.1, your funds may be at risk.
Mk4, Q and Mk5 are not affected based on our early analysis.
Read the advisory and migrate carefully:https://t.co/3vgPHOjMS7
— COLDCARD (@COLDCARDwallet) July 30, 2026
The losses to the flaw, which was exploited early Friday, are estimated at 594 BTC, around $38 million. Funds were drained from roughly 500 wallets inside 25 minutes, with 562 BTC since consolidated into a single address.
Coinkite said it has to assume "someone used AI to review previous versions of our firmware" in order to uncover the flaw. The firm said it had run one of the best available models over its own code a few weeks earlier, and the model "did not find this bug or anything serious." Attackers and defenders have the same tools, it wrote, but this time "it did not help us, and only helped the bad guys."
What went wrongColdcard's firmware calls a function to fetch randomness, and two implementations of it sat in the codebase with identical signatures: the hardware generator Coinkite wrote, and a software fallback inherited from MicroPython. A preprocessor guard checked only whether a setting was defined, without testing its value, so the build completed against the fallback without complaint. Seed generation had been drawing on it since a March 2021 migration.
Every current model is affected to some degree. Coinkite estimates the effective search space for an Mk3 seed at about 40 bits, against the 128 a seed is meant to have. Extra entropy from the secure elements on the Mk4, Q and Mk5 lifts theirs to roughly 72 bits, which the company says materially improves the position without reaching the target. Tapsigner, Opendime and Satscard use different code and are unaffected.
What owners must doCoinkite has shipped an emergency hotfix, version 5.6.0 for the Mk4 and Mk5 and 1.5.0Q for the Q. Updating does not repair a seed already created on affected firmware. Owners need a new seed generated on patched hardware, and the company recommends a strong BIP-39 passphrase, at least 99 dice rolls, or both. Mk3 owners, whose model is out of support, are pointed to a separate migration path.
1/ Earlier today, our Bitcoin engineering and security teams at Block began investigating reports of non-Bitkey wallets being drained. To proactively protect our customers, we began investigating immediately. Here’s what we found 🧵
— Max Guise (@max_guise) July 31, 2026
A seed created on an affected Coldcard stays weak after being restored to another brand's device, a point rival hardware wallet manufacturer Trezor made while telling its own users their funds are safe. Block, which published an independent analysis on Friday, said none of its products are affected, and its hardware lead Max Guise urged anyone exposed to move funds as soon as they safely can.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Coinkite says a build error meant seeds on its Coldcard hardware wallets were drawn from a software fallback instead of the hardware generator. It believes an attacker used AI on its open-source code, and says its own AI review weeks earlier found nothing. Every current model is affected to some degree, and updating the firmware does not repair a seed already created. Coinkite believes an attacker used AI to find a flaw that has cost owners of its Coldcard hardware wallets tens of millions of dollars in Bitcoin, and says its own AI review of the same code weeks earlier turned up nothing.
The hardware wallet manufacturer published an advisory for its Mk3 and a technical breakdown on Thursday, after learning that seeds generated by its devices were far more guessable than intended.
COLDCARD Mk3 Security Advisory
If you generated a seed on a Mk3 after firmware 4.0.1, your funds may be at risk.
Mk4, Q and Mk5 are not affected based on our early analysis.
Read the advisory and migrate carefully:https://t.co/3vgPHOjMS7
— COLDCARD (@COLDCARDwallet) July 30, 2026
The losses to the flaw, which was exploited early Friday, are estimated at 594 BTC, around $38 million. Funds were drained from roughly 500 wallets inside 25 minutes, with 562 BTC since consolidated into a single address.
Coinkite said it has to assume "someone used AI to review previous versions of our firmware" in order to uncover the flaw. The firm said it had run one of the best available models over its own code a few weeks earlier, and the model "did not find this bug or anything serious." Attackers and defenders have the same tools, it wrote, but this time "it did not help us, and only helped the bad guys."
What went wrongColdcard's firmware calls a function to fetch randomness, and two implementations of it sat in the codebase with identical signatures: the hardware generator Coinkite wrote, and a software fallback inherited from MicroPython. A preprocessor guard checked only whether a setting was defined, without testing its value, so the build completed against the fallback without complaint. Seed generation had been drawing on it since a March 2021 migration.
Every current model is affected to some degree. Coinkite estimates the effective search space for an Mk3 seed at about 40 bits, against the 128 a seed is meant to have. Extra entropy from the secure elements on the Mk4, Q and Mk5 lifts theirs to roughly 72 bits, which the company says materially improves the position without reaching the target. Tapsigner, Opendime and Satscard use different code and are unaffected.
What owners must doCoinkite has shipped an emergency hotfix, version 5.6.0 for the Mk4 and Mk5 and 1.5.0Q for the Q. Updating does not repair a seed already created on affected firmware. Owners need a new seed generated on patched hardware, and the company recommends a strong BIP-39 passphrase, at least 99 dice rolls, or both. Mk3 owners, whose model is out of support, are pointed to a separate migration path.
1/ Earlier today, our Bitcoin engineering and security teams at Block began investigating reports of non-Bitkey wallets being drained. To proactively protect our customers, we began investigating immediately. Here’s what we found 🧵
— Max Guise (@max_guise) July 31, 2026
A seed created on an affected Coldcard stays weak after being restored to another brand's device, a point rival hardware wallet manufacturer Trezor made while telling its own users their funds are safe. Block, which published an independent analysis on Friday, said none of its products are affected, and its hardware lead Max Guise urged anyone exposed to move funds as soon as they safely can.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Iran claims to have closed the Strait of Hormuz, U.S. Central Command denies.
Local time on July 31, the U.S. Central Command (CENTCOM) stated that "the Iranian government's renewed claim that it has closed the Strait of Hormuz is false." CENTCOM added that "the Strait of Hormuz remains open for merchant vessel traffic; Iran does not control the strait," noting that "thousands of ships have transited this international waterway over the past four months." Earlier on July 31, Iran's Persian Gulf Strait Administration issued a statement saying that due to the U.S. military's continued aggressive operations in the relevant waters, the Strait of Hormuz is currently not normally navigable. (Source: CCTV)
4 minutes ago
Jensen Huang: "Now is the best time in history to start a business—don’t overthink ‘how hard can it be’."
According to Fortune, NVIDIA CEO Jensen Huang told attendees at Y Combinator’s Startup School 2026 that the present is the best time in history to launch a company, advising young entrepreneurs not to overthink due to rapid technological shifts or fear of failure. When facing challenges, he suggested asking himself: “How hard can it be?” Huang emphasized that entrepreneurs don’t need all the answers from day one; the core is being willing to confront reality and continuously learn. In NVIDIA’s early days, the company bet on the wrong graphics technology. When the team lacked solutions, he purchased three technical textbooks and gave them to his engineers. He noted that as long as one retains a learning mindset, specific technologies themselves are not the most critical factor. That said, Huang doesn’t believe success comes easily. He revealed he still works seven days a week and has long worried about the company collapsing; this sense of vulnerability, uncertainty, and insecurity has never faded. His advice: don’t imagine all difficulties in advance, lest anxiety derail action, but let challenges arise gradually and solve them one by one. Data shows U.S. business applications hit a record 3.23 million in the first half of 2026, up 12.1% year-over-year. However, startup risks remain high: U.S. Bureau of Labor Statistics data indicates nearly half of businesses cease operations within five years of launch.
4 minutes ago
Trump’s approval rating has dropped to its lowest level since his second term.
Political analyst Nate Silver said that due to the ongoing unpopular Iran war and surging natural gas prices, President Trump’s approval rating has dropped to its lowest point since his second term this month. He noted, “The timing aligns closely with the rebound in natural gas prices and the resumption of hostilities in Iran.” As the war nears its sixth month, data from the American Automobile Association (AAA) shows that as of Friday morning, the average U.S. gasoline price stood at around $4.11 per gallon, up from roughly $3.15 a year ago. According to polling averages from Decision Desk HQ, Trump’s overall average approval rating was 40.6% as of Friday morning, while his average disapproval rating reached 57.5%. A Quinnipiac University poll found that 60% of U.S. voters oppose the war, the highest opposition rate recorded since the conflict began on February 28. Nearly three-quarters of Americans said they oppose deploying U.S. troops to Iran. An AP-NORC poll also showed that 64% of Americans consider the war “not worth it”; among them, 87% of Democratic voters, 37% of Republican voters, and 68% of independent voters hold this view. (Jin10)
4 minutes ago
Tom Lee: South Korean stock market may be in the final stage of bottoming out
Chairman Tom Lee of Bitmine, the largest Ethereum treasury company, posted a statement saying that given South Korean policymakers have begun showing "panic", South Korea's stock market may be in the final stage of bottoming out. He cited the view of David Tepper, founder of Appaloosa and a well-known fund manager, stating: "When policymakers start panicking, the market stops panicking."
4 minutes ago
FTX’s fifth round of compensation payments has been deposited into creditors’ accounts.
FTX creditor representative Sunil announced in a post that FTX’s creditor distributions have been deposited into creditors’ accounts. Earlier reports noted FTX will launch its fifth round of creditor compensation on July 31, with plans to disburse roughly $900 million to creditors in the "Convenience" and "Non-Convenience" categories under the firm’s restructuring plan. With this round of distributions, the FTX Recovery Trust’s total compensation disbursements since FTX filed for bankruptcy in November 2022 will reach approximately $10 billion.
Zcash [ZEC] gained 3.2% over the past 24 hours and is trading at $475.95 at the time of writing, outperforming a largely flat Bitcoin [BTC] after the successful rollout of its highly anticipated Ironwood network upgrade. Activated on July 28, the upgrade fixed a previously disclosed counterfeiting flaw by replacing the older Orchard shielded pool with a more secure version.
Within the first 24 hours, approximately 176,000 ZEC worth about $80 million had already moved to the new system, indicating strong early adoption and that confidence has been reinstated in the network as a whole.
With Bitcoin trading largely sideways, ZEC’s gains appear to have been driven primarily by its own network developments rather than broader market momentum. With that said, is this upgrade enough to sustain this increase?
Is ZEC’s rally the start of a reversal?
Zcash has rebounded 3.2% over the past 24 hours, but the move may not be enough to signal a broader trend reversal. On the daily chart, ZEC is trading above a long-standing support zone between $361.59 and $377, an area that has repeatedly attracted buyers since early May. While this has helped prevent a deeper decline, the token has yet to establish a convincing higher high, leaving the broader bearish structure intact.
Volume also offers little confirmation that buyers are regaining control. The On-Balance Volume (OBV) indicator has remained largely flat before gradually turning lower, suggesting buying demand has been too weak to outweigh selling pressure.
Momentum indicators paint a similar picture. The MACD recently crossed below the zero line, a sign that bearish momentum continues to dominate, and the Relative Strength Index (RSI) remains below the neutral 50 level, indicating that the recent price bounce has yet to be supported by stronger market momentum.
The four-hour chart reinforces this cautious outlook. While ZEC was trading around $474 at the time of writing after recovering over the past day, the move appears more consistent with a short-term relief rally than the start of a sustained uptrend.
OBV continues to trend lower, showing that sellers still hold the advantage despite the recent recovery. Meanwhile, the MACD crossover below the zero line, along with the RSI remaining just below the neutral 50 level, indicates that bullish momentum is still limited.
Final summary The success of the Ironwood upgrade has restored confidence in Zcash’s network, resulting in the token’s recent price increase. Unless buyers return with stronger momentum, ZEC may struggle to extend its rally and remain within its broader downtrend.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin was trading near the $64,000 mark on Friday and was broadly unchanged over the past 24 hours, as investors balanced softer US inflation data against the Federal Reserve’s still-hawkish policy stance. The cryptocurrency was last trading at $63,940.
Over the past 24 hours, Bitcoin and Ethereum were down 0.10% and 0.93%, respectively. Among the major altcoins, XRP, Solana and Dogecoin fell less than 1%, while BNB, Tron, Hyperliquid and Cardano gained up to 3.22%.
Also Read | Technology sector funds dominate July returns; 9 mutual funds deliver over 10% gains. Should investors ride the rally?
Crypto Tracker
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Vikram Subburaj, CEO of Giottus, said the immediate support for Bitcoin lies in the $63,800–$64,000 range, followed by a stronger on-chain demand zone near $63,000. Resistance is seen around $65,300–$65,500, with the recent local high of $66,700 emerging as the next key hurdle.
Investors should avoid chasing short-term moves, he said. Instead, staggered accumulation, limited leverage and disciplined position sizing remain preferable until Bitcoin sustains a move above $65,500 and ETF demand improves consistently.
The global cryptocurrency market capitalisation rose 0.14% to $2.19 trillion, according to CoinMarketCap.
Avinash Shekhar, Co-Founder and CEO of Pi42, said Bitcoin is trading around $64,000, reflecting a market that is balancing macroeconomic uncertainty with resilient institutional participation. Despite near-term volatility, Bitcoin continues to find support from steady institutional interest, growing futures activity and sustained participation across the broader digital asset ecosystem. Meanwhile, XRP is approaching a key resistance zone, and a decisive breakout above these levels could improve sentiment across select altcoins.
Rather than chasing short-term price swings, investors should focus on fundamentally strong digital assets, disciplined capital allocation and staggered accumulation during periods of consolidation, he added.
Over the past week, Bitcoin and Ethereum were down 2.37% and 0.47%, respectively. Among the major altcoins, XRP, Solana, Tron, Hyperliquid and Dogecoin corrected by up to 6.22%, while BNB and Cardano gained 3.54% and 0.67%, respectively.
Nischal Shetty, founder of WazirX, said the crypto market continues to trade under the influence of global macroeconomic sentiment. While digital assets remain fundamentally resilient, recent price action reflects a broader risk-off environment across financial markets as investors assess the outlook for interest rates, inflation and global liquidity.
Also Read | Redington shares gain 4% after Q1 profit jumps 77% YoY, revenue growth remains robust
On the flip side, approximately $144.63 million in long positions were liquidated during the recent pullback. Investor sentiment remains cautious, with the Crypto Fear & Greed Index at 34, firmly in the Fear zone, Shetty added.
Market perspective
Piyush Walke, Derivatives Research Analyst, Delta Exchange
Bitcoin traded near the $64,000 mark on Thursday, slipping slightly even as US stock futures advanced following strong earnings from Microsoft, which reassured investors that heavy investments in artificial intelligence are beginning to deliver returns.
From a technical perspective, Bitcoin briefly climbed above the $65,000 mark but failed to sustain the breakout. A four-hour close above the $64,700–$65,000 zone is needed to confirm renewed bullish momentum.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin flat near $64,000 as Kospi's record 17% surge leaves crypto untouched (Asa E K/Unsplash)Summary
Bitcoin and major cryptocurrencies were largely flat around $64,300 despite a powerful rebound in global equity and chip stocks.South Korea’s Kospi index surged as much as 17%, led by big gains in Samsung, SK Hynix and Taiwan Semiconductor after a sharp two-week selloff.A security flaw in certain Coldcard hardware wallets allowed hackers to drain about 594 bitcoin, worth roughly $38 million, without visibly affecting bitcoin’s price.Crypto markets barely registered one of the sharpest equity rallies of the year on Friday, with bitcoin holding near $64,300 while South Korean stocks staged a record rebound from the selloff that dominated the past two weeks.
The majors were close to unchanged. Ether traded at $1,907, XRP at $1.08, solana at $74 and dogecoin at $0.07, with roughly $27 billion changing hands in bitcoin and $7 billion in ether. BNB was the exception, up 3% on the day to $590 and the only major holding a meaningful weekly gain. Bitcoin spiked to $65,300 in early Asian hours before giving it back within an hour.
The weekly picture stays soft. Hyperliquid's HYPE is down 5% over seven sessions, solana and XRP are each off 3%, and bitcoin has lost 2%. Ether and dogecoin are up 1%.
Equities went the other way, hard. The Kospi surged as much as 17%, rebounding from a three-day rout that had taken the index more than 40% below its June peak. Samsung and SK Hynix both jumped more than 23%, and Taiwan Semiconductor rose 10%, making chipmakers the biggest contributors to a broad Asian advance.
The move followed the largest rally in U.S. chip stocks in more than a year, with the Nasdaq 100 snapping a six-day losing streak. Amazon rose nearly 10% after hours on strong cloud earnings, while Apple fell 6% as supply shortages hit its sales forecast.
Bitcoin tracked semiconductors closely through July, rising and falling with the chip trade. It held through last Thursday's $797 billion drop in U.S. megacap technology, held through Korea's record two-day crash midweek, and has now sat out the rebound as well.
A major security breach having a widespread impact on some bitcoin wallets made no impression on the tape either. About 594 bitcoin, worth roughly $38 million, was swept from around 500 wallets on Thursday through a flaw in Coldcard hardware wallet key generation, without registering on the price.
In currencies, the yen weakened, giving back part of Thursday's gain, its largest against the dollar in more than two years, which followed another round of intervention by Japanese authorities.
The currency extended losses after the Bank of Japan left rates unchanged, as economists had expected. Treasuries rose alongside the dollar, and oil extended its decline.
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Anvil: The Missing Collateral Layer
Anvil: The Missing Collateral Layer
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
Jul 29, 2026
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
Why it matters:
Anvil is a shared on-chain collateral layer built on a programmable letter of credit: reserve assets as a guarantee -no loan, no interest, keep custody & yield.
Block has urged Bitcoin holders using Coldcard hardware wallets to immediately transfer their funds following the public disclosure of two major vulnerabilities impacting several Coldcard models. The call to action came after security teams at Block, a US-based technology and financial services company led by Jack Dorsey, received reports of Bitcoin thefts from wallets not affiliated with its own Bitkey product.
Critical vulnerabilities in Coldcard devicesBlock’s investigation identified severe security flaws in Coldcard Mk2, Mk3, Mk4, Q, and Mk5 models, hardware wallets produced by Coinkite. While Bitkey and other Block products remain unaffected, the vulnerabilities expose users of affected devices to significant risk, particularly those leveraging single-signature wallets.
Engineers explained that an initial attack wave exploited these flaws over a period of approximately one hour. Despite this brief window, researchers cautioned that the campaign may still be ongoing, with additional affected users potentially emerging.
The flaws reportedly impact both wallets protected with weak 25th-word passphrases and select multisignature configurations.
Block noted that single-signature wallets were the primary initial targets, but devices using weak passphrases or certain multisig arrangements could also be vulnerable to exploitation.
Technical details of wallet vulnerabilitiesThe first vulnerability is present in the Mk2 and Mk3 firmware. A coding mistake led to wallet creation processes that depended on predictable rather than sufficiently random hardware-generated values, undermining the security assumptions for generating private keys on these models.
Later models—Mk4, Q, and Mk5—were designed to strengthen entropy input during the device boot sequence using secure-element sources. However, the implementation reduced additional randomness to just 32 bits, leaving those wallets vulnerable as well.
Security experts warned that importing a seed created with affected firmware into another wallet does not eliminate the core risk, since the compromised seed remains inherently unsafe.
Mini dictionary: Entropy, in cryptography, refers to the measure of randomness collected by a system, which is critical for generating secure cryptographic keys. Insufficient entropy can make keys predictable and easier for attackers to compromise.
Response from Block and CoinkiteBlock stated that it shared the findings privately with Coinkite prior to the public announcement, aiming to give the manufacturer time to assess and manage the impact on Coldcard users.
Max Guise, a security engineer at Block, recommended rapid action from affected users. Writing on X, Guise urged anyone with potentially exposed wallets to move their funds as soon as it was safe to do so.
Max Guise emphasized the urgency, advising users to migrate their Bitcoin off vulnerable devices at the earliest safe opportunity.
Clay Garrett, another security engineer, highlighted that further investigation revealed 695 previous transactions displaying the same on-chain signature as the initial exploit, representing an additional loss of 488.11 BTC.
Block’s preliminary review suggests up to 1,082.59 BTC may have been stolen in total using these vulnerabilities.
Affected Device ModelsFlaw TypeEstimated Impact (BTC)Coldcard Mk2, Mk3Predictable wallet generationInitial exploitColdcard Mk4, Q, Mk5Weak entropy on boot (32 bits)Additional 488.11 BTCAll affected devicesCombined campaigns1,082.59 BTCDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
BlackRock clients just scooped up $183.41 million worth of Bitcoin, adding another data point to what’s become the most predictable pattern in crypto this year: institutional money flowing into BTC through regulated vehicles like it’s a subscription service.
The purchase, made through BlackRock’s iShares Bitcoin Trust (IBIT), is the latest in a string of nine-figure inflow days that have defined the firm’s Bitcoin strategy in 2026.
A pattern that’s hard to ignore On July 6, BlackRock clients invested $209 million into IBIT, which contributed to roughly $266 million in total US spot Bitcoin ETF inflows that day. BlackRock alone accounted for nearly 80% of all the institutional Bitcoin buying happening through ETFs on that single trading session.
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On July 15, clients purchased $139 million worth of Bitcoin via IBIT, and an additional $80.82 million inflow was recorded, representing 75% of that day’s total ETF flows.
Then around July 22, another $163 million purchase hit the books. Add in the latest $183M buy, and you’re looking at well over $700 million in IBIT inflows across just a handful of days in July alone.
On January 5, 2026, BlackRock clients acquired 3,948 BTC for $372 million. That single-day purchase earlier this year remains one of the largest on record for any spot Bitcoin ETF.
BlackRock’s Bitcoin empire by the numbers By mid-July, BlackRock had surpassed 734,000 BTC under its custodianship.
IBIT maintains an estimated 50-60% market share of all spot Bitcoin ETF assets in 2026. Every other spot Bitcoin ETF, from Fidelity’s FBTC to ARK’s ARKB, is competing for the remainder.
What this means for the market The risk worth noting is concentration. When one entity controls more than half of all ETF-based Bitcoin exposure, any change in BlackRock’s strategy, fee structure, or regulatory status could send shockwaves through the market.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bhutan’s Gelephu Mindfulness City appointed Canadian digital-asset manager 3iQ on July 30 to manage a dedicated mandate backed by an undisclosed portion of its Bitcoin treasury.
Summary
3iQ will manage an undisclosed portion of Gelephu Mindfulness City’s Bitcoin treasury under the mandate. 10,000 BTC were pledged in December 2025 to support Gelephu’s long-term development and economic plans. 3iQ plans a long-term local presence, talent investment and knowledge transfer alongside treasury management operations. The agreement advances a national pledge to allocate up to 10,000 BTC to the special administrative region’s long-term development.
The parties said 3iQ will also establish a long-term presence in Gelephu, invest in Bhutanese talent and transfer investment-management knowledge. They did not disclose how much Bitcoin entered the mandate or when active management would begin.
3iQ mandate leaves key commercial terms undisclosed The company release provides no mandate value, management fee, custody provider or investment benchmark. It also does not say whether 3iQ may lend Bitcoin, use derivatives, post collateral or pursue yield strategies. Those omissions prevent an independent assessment of the mandate’s risk limits or expected returns.
3iQ chief executive Pascal St-Jean said the firm would put Bhutan’s capital to work “responsibly, transparently and for the long term.” That statement describes the company’s intended approach, not a verified performance outcome. GMC board director Jigdrel Singay called 3iQ a founding institutional partner for the city’s planned fund ecosystem.
The agreement connects GMC with Coincheck Group, whose shares trade on Nasdaq. Coincheck disclosed that it completed the acquisition of a 99.8% beneficial interest in 3iQ on February 28. St-Jean became Coincheck Group’s chief executive on April 1 while retaining his role at 3iQ.
Bhutan’s Bitcoin pledge enters its deployment phase Bhutan announced in December 2025 that up to 10,000 BTC from national holdings would support Gelephu’s development. GMC says the reserve was built by converting surplus hydroelectric power into Bitcoin and is intended to create jobs, develop technical skills and strengthen long-term financial resilience.
The official pledge says the Bitcoin is being put to work for national development rather than held for short-term speculation. The 3iQ appointment is the clearest disclosed step so far toward outside professional management, although the amount assigned to the firm remains unknown.
However, Bhutan has also explored collateralization, treasury management and risk-managed yield as possible tools for the broader pledge. GMC rejected claims that earlier transfers from Bhutan-linked wallets represented sales from Bitcoin committed to the city’s strategic reserves.
Gelephu’s rules require clarity on 3iQ’s local role Gelephu’s Financial Services Office regulates traditional finance and virtual-asset activity inside the special administrative region. Its rules require firms carrying out regulated services, including asset management, to obtain a financial services licence before beginning local operations.
The regulator’s public directory did not list an entity named 3iQ on July 31. That absence does not prove that the mandate requires a separate GMC licence or that no application is pending. The partnership announcement did not identify a licensed local entity or explain the regulatory structure under which 3iQ will operate.
The directory currently includes seven approved firms, with 8020 Finance authorized to manage assets from July 23. GMC has also introduced an accelerated pathway for firms already supervised in recognized foreign financial centers, but local regulators retain responsibility for final approval.
Further milestones will define the treasury strategy 3iQ and GMC said this agreement is the first of several milestones they plan to announce over the coming months. Expected steps include building a local team, establishing operations and developing an institutional fund ecosystem, but the parties provided no formal timetable.
Future disclosures will need to show the Bitcoin amount under management, custody controls, permitted trading strategies and reporting standards. Any use of leverage, lending or collateral would also require clear risk limits because losses or counterparty failures could affect assets committed to national development.
Until those details are released, the agreement confirms a manager and a strategic direction rather than a fully disclosed investment program. Its progress will be measured by regulatory approvals, operational launches and transparent reporting on how Bhutan’s Bitcoin supports Gelephu’s development.
The fund belonging to the so-called "AI stock guru" sought to sell equity stakes in private companies this week to meet margin calls.
According to Bloomberg, Situational Awareness, an AI-themed hedge fund founded by 25-year-old Wall Street "AI stock guru" and former OpenAI researcher Leopold Aschenbrenner, attempted to sell some of its private company equity holdings this week to raise cash to meet a series of margin calls from lenders. People familiar with the matter stated that while seeking buyers for part of its positions, the struggling hedge fund approached multiple venture capital firms including Sequoia Capital and Greenoaks. Today’s reports further note that after Situational Awareness’s net value fell roughly 67% this month, it was forced to offload assets to Citadel and is now seeking new capital infusions.
23 minutes ago
The Euro Stoxx 600 Index has surpassed the record closing high set on July 3.
According to Bitget's market data, the Euro Stoxx 600 index has broken the record closing high set on July 3.
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Kioxia's Q1 earnings miss market estimates, cooling expectations of a high boom in AI storage.
Japanese semiconductor firm Kioxia released its financial results today. The company’s net profit for the first quarter stood at 842.17 billion yen, up from 18.28 billion yen in the same period last year, but fell short of the market consensus estimate of 973.81 billion yen. Driven by sustained strong demand for NAND flash memory fueled by artificial intelligence (AI), Kioxia’s profit remains at a historic high. However, the underperformance against market expectations indicates that the AI-driven storage boom has already been fully priced in by the market, which may trigger a short-term cooling of investor sentiment. Going forward, attention should be paid to the company’s full-year performance guidance and the impact of NAND supply-demand dynamics on its profitability.
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Southern Asset Management has responded to market concerns, noting that its double-leveraged long position on SK Hynix is expected to maintain its double leverage.
Recently, CSOP’s 2x SK Hynix bull product has become a market focus due to sharp price swings. As of July 30, SK Hynix has fallen 49% from its June peak, while the net value of the 2x SK Hynix bull product has suffered a cumulative drawdown of over 80%, with its size shrinking by roughly HK$100 billion from HK$130 billion. After the Securities and Futures Commission (SFC) of Hong Kong released new rules last week, CSOP issued an announcement this Monday stating that starting August 3, all of its leveraged and inverse products linked to 12 popular overseas stocks including SK Hynix, Samsung Electronics, Tesla, and NVIDIA will fully switch to a "flexible leverage structure." This move has sparked investor skepticism, as if the manager actively reduces leverage, should SK Hynix rebound quickly afterward, the ETF’s net value recovery will slow significantly, and the payback period for investors who bought at high levels will be extended. On the evening of July 30, CSOP clarified in response to market questions about the product’s switch to the "flexible leverage structure" and potential leverage reduction, stating that under current market conditions, the product is expected to maintain a 2x leverage, and the fund manager will not make any active adjustments to the leverage multiple based on their own market judgment. CSOP emphasized that after the relevant changes take effect, it will release announcements regarding the target leverage multiple before each trading day opens. Taking this product as an example, the announcement will be issued after the close of trading on July 31, and investors are requested to pay close attention. (Source: 21st Century Business Herald)
23 minutes ago
The Nikkei 225 Index closed up 4% today, with a cumulative decline of 8% so far this month.
According to Bitget market data, the Nikkei 225 index closed up 2,494.59 points on Friday, July 31, with a 4.03% gain, ending at 64,362.02 points. Chip stocks led the rally, while the Nikkei 225 has declined 8% cumulatively this month.
23 minutes ago
South Korea's KOSPI index closed 18% higher today, while it has dropped 22% this month, notching the second-largest monthly decline in its history.
According to Bitget market data, South Korea’s KOSPI index closed up 1,001.88 points on Friday, July 31, surging 17.91% to end at 6,595.44 points, marking its largest single-day percentage gain in history. SK Hynix jumped 30% to hit its daily price limit, while Samsung Electronics rose nearly 27%, both setting new records for their respective single-day gains. This week, the index saw sharp volatility, triggering market-wide circuit breakers twice, and staged a violent 18% intraday rebound on the day. The index has fallen 22.4% so far this month, with its monthly decline second only to the 27.2% record set in October 1997, and has also dropped 30% from its June peak.
US spot Bitcoin exchange-traded funds (ETFs) posted their strongest daily inflows in more than three weeks on Thursday, attracting $233.1 million.
BlackRock’s iShares Bitcoin Trust (IBIT) led the gains with $183.4 million in net inflows, accounting for 78.7% of the day’s total, according to SoSoValue data. Bitwise’s BITB attracted $20.7 million, followed by Fidelity’s FBTC with $15.5 million, while several other funds posted smaller inflows.
That flips Bitcoin ETFs into positive territory for the week, leaving them with $203.84 million in net inflows. Barring a net outflow above that value on Friday, the funds could close their fourth straight week in the green.
July is also $437.8 million in the green after Thursday’s inflows and on pace to snap a two-month streak of multibillion-dollar outflows.
Bitcoin traded at $64,338 at the time of writing, down 1.8% over the past week, according to CoinGecko.
Meanwhile, spot Ether ETFs logged $13.3 million in net inflows on Thursday. The funds recorded losses in just five trading sessions throughout July after posting net inflows on only four trading days in June.
Ether traded at $1,905 at the time of writing.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned two Iranian maritime firms accused of running an Islamic Revolutionary Guard Corps (IRGC)-backed insurance network that used $BTC and other digital assets to bypass Western financial controls.
How the Scheme WorkedOFAC stated the firms operated in Iran's financial sector and were part of an insurance network backed by the IRGC that required commercial vessels to buy approved coverage before transiting the Strait of Hormuz. The two entities named are Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority.
The designated insurance policies reportedly covered risks that Iran itself generates, including vessel seizures and harassment by IRGC naval forces. The policies were structured to facilitate payments in digital assets, giving Iranian entities a way to collect revenue while sidestepping traditional banking channels where US sanctions have the most bite.
Developed by Iran's Ministry of Economy, HormuzSafe accepts payment in $BTC and other digital assets as part of the regime's attempts to bypass Western sanctions. Screenshots circulated in May showed a HormuzSafe website offering "digital insurance" for maritime cargo with policies payable in Bitcoin; the site later became inaccessible.
Broader Sanctions Action and Strategic StakesAlongside the two firms, OFAC identified eight vessels as blocked property and designated eight companies linked to what it described as Iran's shadow fleet. The Treasury noted those steps are intended to restrict efforts to disguise vessel ownership and to limit revenue tied to maritime activity.
The action also swept in eight additional vessels tied to Iran's shadow fleet, bringing the total number of such ships sanctioned since the start of 2026 to over 100.
The designations freeze any US assets of the named entities and generally prohibit US persons from dealing with them. Treasury Secretary Scott Bessent framed the action in stark terms. Bessent said: "Iran's economy is in free fall, inflation is in triple digits, and the regime desperately needs money. The US will not allow Iran to hold global trade hostage or use international shipping to fund terrorism."
The strategic importance of the waterway underscores the seriousness of the designations. The Strait of Hormuz carries roughly one fifth of global oil trade, making control over transit through it a significant source of leverage. OFAC framed the action as part of the maximum-pressure campaign directed by National Security Presidential Memorandum 2 (NSPM-2), and referenced a US effort it called Operation Epic Fury.
US authorities have reported Iran used a mix of currencies and digital assets for maritime payments, including Chinese yuan, the stablecoin Tether USDt, and $BTC. Officials stated there is no on-chain evidence that Bitcoin payments linked to the proposed platform were completed.
Sources:
GN Crypto News: US Sanctions Iranian Maritime Firms Over Bitcoin Use
Crypto Times: US Targets Iran's Wartime Crypto Extortion Network in Strait of Hormuz
Bitcoin Foundation: US Sanctions Iranian Insurers That Accepted Bitcoin to Evade Restrictions
31 July 2026 | 09:59 The Bank of Japan held its policy rate at 1.0% on July 31, six weeks after raising borrowing costs in June.
Key Takeaways The BOJ held at 1.0% in an 8-1 vote, with Hajime Takata dissenting for an immediate rise to 1.25%. Markets read the single dissent as dovish, and the yen resumed sliding past 160 against the dollar. Suspected intervention a day earlier pushed USD/JPY from 163.5 to 158.2, with part of the move holding. Bitcoin touched $65,340 before returning to $64,400, with support holding at $63,400–$63,600. The decision matched the base case in our analysis of how Japan’s rate path affects Bitcoin, where a hold was expected to contain the immediate carry-trade risk while a surprise hike would have forced markets to reprice yen funding.
What followed was not the cautious reaction a hold usually produces. The yen resumed weakening within hours, giving back part of a sharp rally that had come the day before.
One Dissent Read as Dovish The Policy Board approved the hold 8-1. Hajime Takata dissented, arguing for an immediate 25-basis-point rise to 1.25% on the grounds that upside price risks had increased enough to justify a pre-emptive move.
Traders drew the opposite conclusion from that vote. Analysts at FOREX.com noted that previous BOJ tightening episodes were generally preceded by meetings where several members broke ranks, so a single dissenter suggests a board still short of consensus, pushing the next move toward October or December. USD/JPY climbed back above 160 in Asian trading after the announcement.
Not every read agrees. MUFG’s research team forecasts the BOJ moving faster than markets price, with hikes in September and again after. Kazutaka Maeda of Meiji Yasuda Research Institute told Reuters that the slight upward revision to the economic outlook supports the rate-hike process, and that further depreciation could itself push markets to price an earlier move.
The Intervention Nobody Confirmed USD/JPY dropped from around 163.5 to roughly 158.2 during Thursday’s New York session, then recovered to 160.31 by Friday morning, up 0.44% on the day as the yen weakened again. The pair sits about 3.2 yen below where it traded before Thursday.
USD/JPY at 160.31 on July 31, around 3.2 yen below its pre-intervention level. Nikkei and Bloomberg both reported that Japan intervened in the currency market, with the US conducting a rate check on the pair. Authorities confirmed nothing.
Across April and May, the Ministry of Finance deployed a record ¥11.73 trillion, roughly $73 billion, after USD/JPY breached 160. By late July the pair traded near 163.5, with a 40-year low at 163.99.
Days before Thursday, JPMorgan’s head of FX research, Junya Tanase, said the defence line markets had assumed around 162 had effectively disappeared. Thursday answered that by moving the pair five yen in a session. What it did not change was direction: the level at which Tokyo steps in has moved, and the pair has climbed every session since.
One reading is that the operation created room for a dovish outcome without triggering another wave of selling. Finance Minister Satsuki Katayama repeated that authorities stand ready to act at any moment, in coordination with the United States.
Why the Yen Matters More Than the Rate Japan has kept borrowing costs near zero for decades, so investors around the world borrow yen cheaply and put that money into assets they expect to earn more. Stocks, bonds, currencies, crypto. The trade works as long as Japanese rates stay low and the yen stays weak, because a falling yen means the loan costs less to repay than it did when it was taken out.
Friday left both of those conditions in place. Rates did not move, the currency kept sliding, and nothing about the trade got more expensive. That is why crypto barely reacted.
The problem comes when the trade reverses. If the BOJ raises rates or the yen suddenly strengthens, those loans get more expensive fast, and investors have to sell things to repay them. They sell what is easiest to sell first, which means liquid assets that trade around the clock. Bitcoin fits that description better than almost anything else, even though not a single yen was borrowed to buy it.
Each week of depreciation brings that reversal closer. Cheaper yen means Japan pays more for imported energy and goods, which pushes inflation up and strengthens the argument for the rate rise the Bank passed on this week. The same slide that makes the trade profitable today is what eventually forces the move that ends it.
Bitcoin Rejected $65,000 BTC reached an intraday high near $65,340 on July 31 before returning to $64,400 at the time of writing, a move of roughly 1.5% across the session. Price turned back from horizontal resistance near $65,000 that the market has tested across several sessions.
Daily Bitcoin/USD chart showing the rejection near $65,000 and support at $63,400–$63,600. Since the Fed’s July 29 hold, Bitcoin has traded around $64,000 without establishing direction. Repeated attempts above that level show buyers active; the failure beyond $65,000 shows sellers still holding the upper end.
Support sits between the 0.236 Fibonacci retracement near $63,600 and the 50-day simple moving average near $63,400. Bitcoin has stayed above both, making the narrow $63,400–$63,600 band the floor protecting the current recovery.
The three completed sessions before July 31 formed progressively higher lows, with buyers stepping in slightly earlier on each pullback. The July 31 low near $64,100 continued that sequence, though the pattern only counts once it survives a daily close.
Clearing $65,000 and holding would open the 0.382 retracement near $67,300. Losing $63,400 would break the structure and reopen the lower range.
The Outlook Depends on a Currency the BOJ Will Not Defend The July Outlook Report upgraded Japan’s growth forecast for fiscal 2026 to 0.8% while trimming near-term inflation projections, and expects inflation excluding fresh food to run clearly above 2% from the second half of the fiscal year.
The Bank identified several sources of upward pressure:
Companies passing wage increases into selling prices The delayed effect of higher crude-oil costs Rising semiconductor prices tied to global AI demand A weaker yen lifting import costs The last item is doing more work than the other three. Import costs feed the inflation forecast the Bank published, and the exchange rate driving them is the one variable it left untouched this week.
The Currency Sets the Timetable, Not the Calendar The Federal Reserve meets on September 15 and 16, and the BOJ follows on September 17 and 18, leaving leveraged portfolios two days between decisions.
The Fed’s July hold carried its own hawkish split. The FOMC kept rates at 3.50%–3.75% by 9-3, with Beth Hammack, Neel Kashkari and Lorie Logan all preferring an immediate quarter-point increase.
On current pricing, a September BOJ hike is the less likely half of that pairing. The bigger threat to leveraged positioning is a currency sliding far enough to force Tokyo’s hand, and that arrives on the exchange rate’s schedule rather than the meeting calendar’s.
Friday’s relief carries that cost. A hold that leaves the funding currency falling buys leveraged books a quiet week and raises the odds of a sharper correction later, delivered either through rates or through another operation in the market.
What to Watch Before September The BOJ publishes its Summary of Opinions from this meeting on August 10. The statement showed only the final vote; the summary indicates whether other members share Takata’s concern while still backing a pause, which is the difference between one dissent and a shifting board.
USD/JPY: a sustained push past 164 raises the odds of another operation and pulls hike expectations forward. Japanese inflation: readings holding above 2% strengthen Takata’s argument. Wage and spending data: firm domestic demand gives the Bank room to tighten. US inflation and employment: stronger prints raise the odds of a September Fed hike. Bitcoin’s $63,400–$63,600 band: holding it preserves the higher-low structure. Bitcoin absorbed both central-bank decisions without breaking down. What it now trades against is a currency that took an unprecedented operation to pull off 40-year lows, and has climbed every session since.
Disclaimer: This article is for informational and analytical purposes only and does not constitute financial or investment advice. Central-bank decisions, currency intervention and global liquidity conditions can produce sudden market volatility. Methodology: Policy decisions and forecasts come from the BOJ’s July 31 statement and Outlook Report and the Federal Reserve’s July 29 release. Vote details and analyst comment are from Reuters, FOREX.com and MUFG Research. The suspected intervention was reported by Nikkei and Bloomberg and has not been officially confirmed by Japanese authorities. Currency levels are as of Friday morning and Bitcoin levels come from the BTC/USD daily chart dated July 31, 2026. Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Strategy takes a direct hit from the bitcoin plunge. With several billion dollars in unrealized losses in the second quarter, the largest corporate treasury in BTC reminds that a massive accumulation strategy also exposes to a considerable accounting cost when the market reverses. While these losses remain theoretical, they revive a central question: how far can a company continue to finance its bitcoin purchases while preserving investor confidence and its ability to meet its financial obligations?
In brief Strategy suffers a net loss of $8.22 billion, largely driven by the theoretical depreciation of its crypto portfolio. The 14% decline in Bitcoin price over the quarter heavily impacted the company’s balance sheet valuation. Despite financial turbulence, the company continues its massive accumulation, bringing its reserves to over 843,000 BTC. The creation of a $3.75 billion reserve now ensures more than two years of financial security. An accounting abyss linked to bitcoin The second quarter financial year ended with an unprecedented setback for the American firm, severely impacted by the bearish crypto market situation. The main financial indicators drawn from the official report reveal a critical accounting balance sheet :
A net quarterly loss : the company recorded a negative net result of $8.22 billion during the second quarter ; Unrealized losses : the deficit is mainly explained by an accounting depreciation of $8.32 billion on bitcoin reserves ; A correction of the BTC price : the crypto fell about 14% in Q2, moving from nearly $68,000 at the beginning of April to around $58,600 at the end of June ; The increase of bitcoin treasury : despite these losses, the company held 843,775 BTC as of July 26, marking a 25% increase in its portfolio since the beginning of the year ; MSTR stock closed the regular session up 4.7% before moderately retreating during after-hours trading. The marked deterioration of the figures is explained by the accounting mechanism imposed on companies holding cryptos on their balance sheets. Thus, when an asset suffers a significant correction, the decline must be immediately recognized as unrealized losses in the financial statements of the past period. The revaluation of bitcoin around $64,700 toward the end of July was not enough to erase the accounting deficit recorded at the quarterly closing date.
This situation reveals the wide gap between the instant market value of the stock portfolio and the actual operational health of the company. However, the uninterrupted token accumulation confirms management’s determination to ignore short-term uncertainties in favor of a long-term scarcity vision.
A monetization program to guarantee cash flows To ensure its financial commitments in an adverse context, the company has officially launched its bitcoin monetization program. In this regard, the company sold tokens worth approximately $218.4 million with the explicit goal of financing some of its dividend obligations on its preferred shares. Most of these disposal operations, represented by a tranche of $216 million, took place at the very beginning of July, immediately after the close of the second quarter accounting period. At the same time, the group created a cash reserve in US dollars of $3.75 billion, a sum sized to cover more than two years of preferred dividend payments and interest obligations.
These moves mark a notable evolution in the balance sheet management of Michael Saylor’s firm Michael Saylor, which now accepts realizing a marginal fraction of its capital gains to fund its operations. Creating a USD reserve protects the structure against potential pressures on its liquidity in case of prolonged price stagnation. The simultaneity between targeted crypto sales and the creation of a robust fiat reserve reflects an explicit will to adapt the economic model to the requirements of traditional bond markets.
As part of this restructuring, Strategy bought back $25 million of its own STRC preferred shares at a price below their nominal value. The company stated its intention to continue buying these shares as long as they trade below $100, thereby taking advantage of temporary valuation imbalances in the secondary market.
By repurchasing its own discounted obligations, management executes a smart financial arbitrage operation that reduces the theoretical cost of its debt while supporting the price of its preferred shares. This maneuver demonstrates active capital management aimed at optimizing shareholder value even at the height of the accounting storm.
The adoption of this hybrid model constitutes a major test for the ecosystem of corporate treasuries backed by cryptos. On one hand, the decision to occasionally sell bitcoin to honor dividends shows that the dogma of absolute conservation meets its logical limits in face of the legal and financial constraints of listed companies. On the other hand, the company’s ability to build a $3.75 billion cushion while increasing its overall reserve by 25% proves the growing sophistication of its management tools.
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average (EMA) while ETH continues to consolidate between two major EMAs. Meanwhile, XRP holds above key support, the technical indicators of these three cryptocurrencies suggest that the next major move could be driven by a breakout or breakdown from current levels.
Bitcoin nears the 50-day EMABitcoin price trades at $64,282, keeping a bearish near-term tone as it holds below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), which all sit overhead as a layered cap. The Relative Strength Index (RSI) hovers around the neutral 50 line. At the same time, the Moving Average Convergence Divergence (MACD) remains in negative territory, suggesting weak momentum that so far fails to challenge the dominant overhead EMA structure.
On the topside, initial resistance is seen at the 50-day EMA near $64,916, followed by the 100-day EMA around $67,476 and the 200-day EMA near $73,267 before the major horizontal barrier at $84,410.
On the downside, immediate support emerges at the horizontal level around $64,004, where a sustained break lower would expose further weakness beyond the current charted levels.
Ethereum trades sideways between the 50-day and 100-day EMAsEthereum price trades at $1,903 on Friday, consolidating in a neutral stance between its short- and medium-term trend markers. ETH holds above the 50-day exponential moving average (EMA) at $1,850, suggesting nearby dip-buying interest, but remains capped beneath the 100-day EMA at $1,933, keeping the broader recovery in check.
The RSI hovers around 56, hinting at mild bullish momentum, while the MACD sits below the zero line, suggesting lingering downside risk despite the ongoing stabilization.
On the topside, initial resistance is seen at the 100-day EMA near $1,933, followed by the psychological barrier at $2,000, while the 200-day EMA higher at $2,159 forms a more strategic hurdle if bulls regain control.
On the downside, immediate support emerges at the 50-day EMA around $1,850, with a deeper safety net only near the horizontal support zone at $1,385, where a break would significantly deteriorate the medium-term structure.
XRP steadies above key $1 support zoneXRP price trades at $1.079 on Friday. XRP remains under pressure as it holds below the 50-day EMA at $1.127, the 100-day EMA at $1.211, and the 200-day EMA at $1.405, keeping the broader bias bearish despite recent stabilization. The RSI at 44 signals only modest downside momentum, while the MACD line is marginally below zero and flattening, hinting at a weak but persistent bearish tone rather than an outright breakdown.
On the topside, initial resistance emerges at the 50-day EMA near $1.127, followed by the 100-day EMA around $1.211. Beyond that, a horizontal barrier sits near $1.300, before the 200-day EMA at roughly $1.405 and the more distant resistance zone at $1.900.
On the downside, the nearest notable support is the horizontal level at $1.000, where buyers previously defended the market, with a daily close below this floor likely opening the door to a deeper corrective phase.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Cryptocurrency metrics FAQs The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains.
Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value.
Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency.
Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.
The fund belonging to the so-called "AI stock guru" sought to sell equity stakes in private companies this week to meet margin calls.
According to Bloomberg, Situational Awareness, an AI-themed hedge fund founded by 25-year-old Wall Street "AI stock guru" and former OpenAI researcher Leopold Aschenbrenner, attempted to sell some of its private company equity holdings this week to raise cash to meet a series of margin calls from lenders. People familiar with the matter stated that while seeking buyers for part of its positions, the struggling hedge fund approached multiple venture capital firms including Sequoia Capital and Greenoaks. Today’s reports further note that after Situational Awareness’s net value fell roughly 67% this month, it was forced to offload assets to Citadel and is now seeking new capital infusions.
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The Euro Stoxx 600 Index has surpassed the record closing high set on July 3.
According to Bitget's market data, the Euro Stoxx 600 index has broken the record closing high set on July 3.
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Kioxia's Q1 earnings miss market estimates, cooling expectations of a high boom in AI storage.
Japanese semiconductor firm Kioxia released its financial results today. The company’s net profit for the first quarter stood at 842.17 billion yen, up from 18.28 billion yen in the same period last year, but fell short of the market consensus estimate of 973.81 billion yen. Driven by sustained strong demand for NAND flash memory fueled by artificial intelligence (AI), Kioxia’s profit remains at a historic high. However, the underperformance against market expectations indicates that the AI-driven storage boom has already been fully priced in by the market, which may trigger a short-term cooling of investor sentiment. Going forward, attention should be paid to the company’s full-year performance guidance and the impact of NAND supply-demand dynamics on its profitability.
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Southern Asset Management has responded to market concerns, noting that its double-leveraged long position on SK Hynix is expected to maintain its double leverage.
Recently, CSOP’s 2x SK Hynix bull product has become a market focus due to sharp price swings. As of July 30, SK Hynix has fallen 49% from its June peak, while the net value of the 2x SK Hynix bull product has suffered a cumulative drawdown of over 80%, with its size shrinking by roughly HK$100 billion from HK$130 billion. After the Securities and Futures Commission (SFC) of Hong Kong released new rules last week, CSOP issued an announcement this Monday stating that starting August 3, all of its leveraged and inverse products linked to 12 popular overseas stocks including SK Hynix, Samsung Electronics, Tesla, and NVIDIA will fully switch to a "flexible leverage structure." This move has sparked investor skepticism, as if the manager actively reduces leverage, should SK Hynix rebound quickly afterward, the ETF’s net value recovery will slow significantly, and the payback period for investors who bought at high levels will be extended. On the evening of July 30, CSOP clarified in response to market questions about the product’s switch to the "flexible leverage structure" and potential leverage reduction, stating that under current market conditions, the product is expected to maintain a 2x leverage, and the fund manager will not make any active adjustments to the leverage multiple based on their own market judgment. CSOP emphasized that after the relevant changes take effect, it will release announcements regarding the target leverage multiple before each trading day opens. Taking this product as an example, the announcement will be issued after the close of trading on July 31, and investors are requested to pay close attention. (Source: 21st Century Business Herald)
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The Nikkei 225 Index closed up 4% today, with a cumulative decline of 8% so far this month.
According to Bitget market data, the Nikkei 225 index closed up 2,494.59 points on Friday, July 31, with a 4.03% gain, ending at 64,362.02 points. Chip stocks led the rally, while the Nikkei 225 has declined 8% cumulatively this month.
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South Korea's KOSPI index closed 18% higher today, while it has dropped 22% this month, notching the second-largest monthly decline in its history.
According to Bitget market data, South Korea’s KOSPI index closed up 1,001.88 points on Friday, July 31, surging 17.91% to end at 6,595.44 points, marking its largest single-day percentage gain in history. SK Hynix jumped 30% to hit its daily price limit, while Samsung Electronics rose nearly 27%, both setting new records for their respective single-day gains. This week, the index saw sharp volatility, triggering market-wide circuit breakers twice, and staged a violent 18% intraday rebound on the day. The index has fallen 22.4% so far this month, with its monthly decline second only to the 27.2% record set in October 1997, and has also dropped 30% from its June peak.
Another Friday has rolled around, and this one is the last of the month, meaning a much bigger Bitcoin and Ethereum options expiry event.
Around 149,000 Bitcoin options contracts will expire on Friday, July 31, with a notional value of roughly $9.57 billion. This expiry is much larger than usual events, being the end of the month, so it may induce spot market volatility.
Crypto markets have retreated slightly this week, with around $25 billion leaving the space following the Fed’s decision to leave rates unchanged and the resumption of military action between the US and Iran.
Bitcoin Options Expiry This week’s big batch of Bitcoin options contracts has a put/call ratio of 0.28, meaning that there are way more (call) contracts expiring compared to short (put) contracts. Max pain is around $64,000, which is pretty close to current spot prices, so many will be in the money on expiry.
Open interest (OI), or the value or number of Bitcoin options contracts yet to expire, remains highest at the $70,000 and $72,000 strike prices on Deribit, with $2.4 billion at each, but short sellers still have $1.3 billion in OI at $60,000. Total BTC options OI across all exchanges has risen over the past few weeks to $34.7 billion, according to Coinglass.
“Overall, macro and risk asset signals remain cautious. BTC continues to face short-term pressure, with market stabilization and renewed capital inflows being key signals to watch,” said Deribit this week.
“This creates massive liquidity and volatility, making it one of the best days to trade short-dated options,” the exchange added.
In addition to today’s big batch of Bitcoin options, around 433,000 Ethereum contracts are expiring, with a notional value of $825 million, a max pain of $1,800, and a put/call ratio of 0.59. Total ETH options OI across all exchanges is low at around $5.4 billion.
This brings the total notional value of crypto options expirations to around $10.4 billion, a substantial event.
Spot Market Outlook Crypto markets ticked up a little on Friday morning, with total capitalization tapping $2.3 trillion again, but the week has been one of slow losses.
You may also like: Bitcoin’s Weak Hands Are Folding – But Is One Final Flush Still Ahead? Bitcoin, Ethereum Outperform Markets in July as Chip Stocks Plunge 22% Bitcoin’s Next Bull Run Could Follow US Midterms: Analyst Bitcoin topped $65,000 in an intraday high early on Friday morning but was immediately rejected there and retreated to $64,325 at the time of writing.
The asset remains in consolidation, where it has been for the past two months. “BTC is at its lowest weekly volatility in two years,” observed analyst ‘Daan’.
Ether prices have also squeezed into a very tight range over the past few days, hovering around $1,900.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Kripto para piyasaları bugün son dönemin en büyük opsiyon vadelerinden biriyle karşı karşıya. Deribit verilerine göre, toplam 10,3 milyar dolar nominal değere sahip Bitcoin ve Ethereum opsiyon sözleşmeleri 08.00 UTC’de (TSİ 11.00) vadesini dolduracak.
Deribit verilerine göre bugün 149 bin Bitcoin opsiyon kontratı vadesini dolduracak. Bu sözleşmelerin toplam nominal değeri yaklaşık 9,57 milyar dolar seviyesinde bulunuyor.
Ay sonuna denk gelen bu büyük vade nedeniyle yatırımcılar, özellikle Bitcoin ve Ethereum fiyatlarında gün içi volatilitenin artıp artmayacağını yakından takip ediyor. Büyük ölçekli opsiyon vadeleri, piyasa yapıcıların pozisyonlarını yeniden dengelemesi nedeniyle zaman zaman sert fiyat hareketlerine zemin hazırlayabiliyor.
Bitcoin Tarafında 9,5 Milyar Dolarlık Opsiyon Vadesi Deribit’in paylaştığı verilere göre bugün yaklaşık 9,5 milyar dolar nominal değere sahip Bitcoin opsiyon sözleşmesi vadesini dolduracak.
Bitcoin opsiyonlarında put/call oranı 0,28 seviyesinde bulunuyor. Bu oran, vadesi dolacak alım (call) opsiyonlarının satım (put) opsiyonlarına kıyasla belirgin şekilde daha fazla olduğunu gösteriyor.
Bitcoin için belirlenen max pain seviyesi ise 64.000 dolar olarak açıklandı. Max pain, opsiyon sözleşmelerinin vade sonunda en fazla yatırımcının zarar ettiği teorik fiyat seviyesi olarak tanımlanıyor. Bu seviye kesin bir fiyat hedefi olmasa da opsiyon yatırımcıları tarafından yakından takip ediliyor.
Coinglass verilerine göre tüm borsalardaki toplam Bitcoin opsiyon açık pozisyonu (Open Interest) son haftalarda 34,7 milyar dolara yükseldi. Deribit’te en yüksek açık pozisyon ise 70 bin dolar ve 72 bin dolar kullanım fiyatlarında bulunuyor. Her iki seviyede de yaklaşık 2,4 milyar dolarlık açık pozisyon yer alırken, 60 bin dolar kullanım fiyatında yaklaşık 1,3 milyar dolarlık satım yönlü açık pozisyon bulunuyor.
Ethereum’da 819,3 Milyon Dolarlık Sözleşme Sona Eriyor Ethereum tarafında ise yaklaşık 819,3 milyon dolar nominal değere sahip opsiyon sözleşmesi bugün sona erecek.
Ethereum opsiyonlarında put/call oranı 0,59 olarak hesaplanırken, max pain seviyesi 1.800 dolar olarak açıklandı.
Bitcoin ve Ethereum birlikte değerlendirildiğinde, bugün vadesi dolacak opsiyon sözleşmelerinin toplam nominal büyüklüğü 10,3 milyar dolara ulaşıyor. Bu da günü son haftaların en dikkat çeken türev piyasası gelişmelerinden biri haline getiriyor.
Deribit Volatilite Uyarısı Yaptı Deribit, bu hafta yayımladığı değerlendirmede büyük opsiyon vadelerinin piyasada hem likiditeyi hem de kısa vadeli fiyat oynaklığını artırabileceğini ifade etti. Borsa ayrıca makroekonomik görünümün temkinli kalmaya devam ettiğini, Bitcoin’in kısa vadede baskı altında olduğunu ve piyasanın yeniden güç kazanması için sermaye girişlerinin kritik önem taşıdığını vurguladı.
Şirkete göre bu büyüklükteki vade günleri, özellikle kısa vadeli opsiyon işlemleri yapan yatırımcılar için en hareketli işlem dönemlerinden biri olarak öne çıkıyor. Artan işlem hacmi ve pozisyon kapatmaları, spot piyasada da ani fiyat hareketlerine neden olabiliyor.
Opsiyon Vadesi Neden Önemli? Opsiyon sözleşmelerinin vade günü yaklaşırken piyasa yapıcılar ve büyük yatırımcılar mevcut pozisyonlarını kapatabiliyor veya yeniden dengeleyebiliyor. Bu süreç, özellikle yüksek nominal değere sahip vadelerde Bitcoin ve Ethereum fiyatlarında kısa süreli dalgalanmaları beraberinde getirebiliyor.
Bu nedenle yatırımcılar yalnızca spot fiyatı değil, put/call oranı, max pain seviyesi ve açık pozisyon dağılımı gibi türev piyasa göstergelerini de yakından izliyor.
Yaklaşık 10,3 milyar dolarlık opsiyon sözleşmesinin aynı gün vadesini dolduracak olması nedeniyle yatırımcılar, gün içindeki fiyat hareketlerini yakından izleyecek. Vade sonrası oluşacak fiyatlamalar, kısa vadeli piyasa yönüne ilişkin önemli sinyaller verebilir.
Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.
Son Dakika kripto para haberleri için hemen tıkla.
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Leading cryptocurrencies staged a sharp recovery alongside stocks on Thursday, reversing a Federal Reserve-driven sell-off the day before.
Crypto Market ReboundsAfter a brief lull, Bitcoin pushed back above $65,000. Ethereum, meanwhile, continued to wrestle with bears near the $1,930 level
Nearly $200 million was liquidated from the cryptocurrency market in the last 24 hours, th bearish short traders taking the biggest hit, according to Coinglass data
Bitcoin’s open interest rose 2.25% over the last 24 hours, aligning with the spike in spot prices. The total cryptocurrency buy orders broadly matched the market sells, indicating equilibrium between market forces.
Despite the gains, "Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.19 trillion, representing a 1.04% increase over the last 24 hours.
Stocks Also Claw BackThe Dow Jones Industrial Average jumped 613.92 points, or 1.2%, to end the day at 52,208.06. The S&P 500 rallied 1.7% to settle at 7,437.63, while the tech-heavy Nasdaq Composite lifted 2.8% to settle at 25,122.18.
Meanwhile, geopolitical tensions remained elevated. The U.S. military rejected Iran’s claim that three F-35 fighter jets were destroyed in a recent missile attack on an American base in Jordan, adding that all the projectiles were intercepted.
‘Don’t Fear a Drop to $60,000’Ali Martinez, a widely followed cryptocurrency analyst and trader, said a Bitcoin drop to $60,000 would not be unwelcome, as it could complete an inverse head-and-shoulders pattern.
The inverse head and shoulders pattern is a bullish reversal pattern, indicating exhaustion of a prolonged downturn.
“A confirmed breakout above $66,500 would then put $74,000 in play,” the analyst added.
Michaël van de Poppe, another prominent cryptocurrency influencer, flagged $1,975 as a key resistance for Ethereum, projecting a swift move to $2,300 upon breakout.
Photo: Memory Stockphoto / Shutterstock
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UNUS SED (LEO) has quietly secured its place among the world’s largest cryptocurrencies with a market capitalization of nearly $9 billion. This makes it the 11th-largest crypto asset. Yet, unlike Bitcoin, Ethereum, Solana, or XRP, LEO rarely trends on social media or dominates headlines. Its quiet presence comes down to its unique purpose. Specifically, it was built as a utility token for the iFinex ecosystem, not as a retail-focused investment asset.
Created to Solve an $850 Million CrisisLEO was launched in 2019 after iFinex, the parent company of Bitfinex and closely associated with Tether, lost access to approximately $850 million. This sum had been held by payment processor Crypto Capital.
Instead of launching a public ICO, iFinex privately sold 1 billion LEO tokens. In the process, they raised around $1 billion to strengthen its balance sheet. Since the token never went through a public fundraising campaign, it also never built the retail community that many major cryptocurrencies enjoy today.
Why It Receives So Little AttentionLEO operates very differently from traditional altcoins.
It functions primarily as an exchange utility token, with a large portion of its supply held by major holders rather than actively traded in the public market. As a result, LEO records relatively low trading activity compared to other top-ranked cryptocurrencies. This occurs despite LEO maintaining a multi-billion-dollar valuation.
Unlike meme coins or DeFi projects, LEO has almost no community-driven hype, NFT ecosystem, or speculative culture. This fact explains why it rarely becomes a trending topic.
Built for the Bitfinex EcosystemLEO is designed to provide benefits across the iFinex ecosystem, including Bitfinex.
Token holders receive:
Trading fee discountsLower lending costsReduced withdrawal feesPriority access to selected platform servicesOriginally, 64% of LEO’s supply was issued on Ethereum, while the remaining 36% launched on EOS. Following the EOS network rebrand, the EOS-based tokens migrated to the Vaulta blockchain in 2025.
A Deflationary Token With No Unlock ScheduleUnlike most cryptocurrencies, LEO has no token unlock events.
Instead of new supply entering the market, the circulating supply steadily decreases through Bitfinex’s aggressive buyback-and-burn program.
Under its whitepaper, iFinex allocates at least 27% of its consolidated gross revenue every month to repurchase LEO from the market before permanently burning those tokens. This process will continue until the token supply is eventually eliminated.
So far, roughly 79.9 million LEO have already been burned, leaving a circulating supply of about 920 million tokens.
LEO is currently trading around $9.77.
Story Ends Here
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