The newly public AI agent company chose Bitcoin over stablecoins to pay international team members, with payments settling in seconds and its books staying entirely in U.S. dollars.
Vida Global, Inc. (“Vida”) (NYSE American: VIDA), an AI Agent Operating System for modern businesses, today announced it is using Voltage Credit to pay members of its global team in Bitcoin while settling its balance entirely in U.S. dollars. Voltage facilitates the Bitcoin payments over the Lightning Network, and Vida settles at the end of each month like a standard vendor invoice, keeping cryptocurrency off its books entirely.
Cross-border compensation remains one of the most persistent operational headaches for globally distributed companies. Team members in countries with unstable currencies increasingly ask to be paid in Bitcoin, but most employers can’t accommodate that without taking on crypto custody, tax complexity, and accounting overhead their finance teams aren’t built for. Vida hit the question directly when a new team member in Argentina joined and asked to be paid in Bitcoin, their first preference over the peso. The company adopted Voltage Credit to say yes. Had Bitcoin not been workable, Vida planned to explore stablecoins instead. It never needed to. For Vida, saying yes has become a practical way to attract and keep talent in markets where traditional payroll comes up short.
Voltage Credit removes the tradeoff. VIDA draws on a revolving credit line to send instant Bitcoin payments to team members, then repays the balance in dollars from a standard bank account at month’s end. There is no pre-funded Bitcoin wallet, no crypto on the balance sheet, and no change to how the finance team closes the books.
“Vida has a global team, including team members in Argentina who prefer to be paid in Bitcoin because of challenges with their local currency,” said Lyle Pratt, Founder and CEO of Vida. “Voltage Credit allows us to meet that need without adding cryptocurrency-specific complexity to our accounting. Voltage facilitates the Bitcoin payments, and we settle the balance in U.S. dollars at the end of the month, just like a standard vendor invoice. It has made offering Bitcoin payments remarkably simple for both our team and our finance operations.”
For the team members on the receiving end, the difference shows up in speed. “Voltage removed the friction of receiving payments internationally completely,” said Valentino, a member of VIDA’s team in Argentina. “What surprised me most was the speed. I had no idea Bitcoin payments could settle that fast.”
Vida is the first publicly traded company to use Voltage Credit for global team payments since Voltage launched the product in February 2026 as the first revolving line of credit offering instant payment finality with full USD settlement. It also puts two Austin companies on the same rail: Vida, which went public on NYSE American in May 2026 and powers more than 100 million AI agent interactions across thousands of businesses, and Voltage, the longest-running infrastructure provider on the Lightning Network, which now processes over $1 billion in monthly payment volume.
“AI companies are global by default, and their payment rails haven’t caught up,” said Graham Krizek, CEO of Voltage. “Vida is exactly the company we built Voltage Credit for. Their team members get paid in seconds in the money they actually want, and their finance team never touches crypto. When a public company runs part of its team compensation on Bitcoin rails and the books stay boring, that’s the point.”
The full case study, “How Vida runs global payroll on Bitcoin with Voltage,” is available on the Voltage blog. Voltage Credit is currently available to qualified businesses in the United States. Businesses can learn more at voltage.cloud.
About Voltage
Voltage is a Bitcoin infrastructure company providing enterprise-grade solutions for regulated, high-volume businesses. The Voltage platform enables enterprises to integrate Bitcoin payments with enterprise SLAs, managed infrastructure, and capital-efficient liquidity solutions. From powering instant settlement to providing revenue-based lines of credit, Voltage builds the operational engine for businesses moving value on Bitcoin rails. More information is available at voltage.cloud.
About VIDA Global
Vida is an AI agent operating system that enables businesses to build, deploy, manage, and monetize AI agents capable of running business operations and communications. The platform is model-agnostic, orchestrating across Vida’s proprietary technology and leading large language models and AI systems, including OpenClaw, to deliver intelligent, full-stack agents across industries. Vida serves direct enterprise customers and a global network of resellers, agencies, and partners. For more information, users can visit https://vida.io.
Banco Santander, Spain’s largest bank, has disclosed in official regulatory filings that it holds a position of approximately $4.3 million in spot Bitcoin ETFs traded in the US. While this amount isn’t enormous in absolute terms, given the bank’s management of over $1 trillion in assets, it reflects a trend among traditional financial institutions to build Bitcoin exposure through regulated channels.
Santander Takes a New Step in its Cryptocurrency Strategy The bank scored approximately 35% in the 2026 Bitcoin Bank Adoption Index, placing it among the institutions researchers categorized as “mid-level.” This score puts Santander on par with banks like Société Générale, but behind crypto-focused firms like Fidelity. Nevertheless, in an environment where many large banks are still hesitant about digital assets, Santander’s position stands out as a remarkable example.
Santander’s interest in crypto is not new. CEO Ana Botín has been making public statements about Bitcoin products since 2021. The bank has been developing crypto custody and digital asset services across Europe for years. Its digital subsidiary, Openbank, began offering crypto trading services to clients in Germany in September 2025; the next step is to expand this service to Spain.
Rising Institutional Crypto Adoption in Europe Santander’s investment in US spot Bitcoin ETFs comes at a time when institutional crypto adoption is accelerating in Europe. The bank is actively involved in crypto custody and digital asset initiatives across the continent. With new regulations like MiCA becoming clearer, Santander appears to be aiming to strengthen its position in this area.
Whether the bank’s mid-level integration score reflects a cautious approach or structural limitations is being watched by the industry. Banks with higher integration scores may have an advantage in attracting wealthy clients interested in crypto.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Iran’s Islamic Revolutionary Guard Corps claimed responsibility for striking Ali Al Salem Air Base in Kuwait, a facility housing US military personnel and equipment. The attack, which Iran described as part of the “third phase” of its retaliation against US aggression, has rattled global risk markets and pushed Bitcoin’s price dangerously close to the $100K level.
Liquidations across risk assets exceeded $700 million as traders scrambled to adjust positions in response to the volatility.
What happened on the ground The IRGC launched a series of strikes on the Ali Al Salem Air Base on July 13, 20, and 24, 2026, using a combination of kamikaze drones and missiles. The targets reportedly included ammunition depots, fuel tanks, Patriot missile defense systems, and personnel hangars.
Advertisement
Iran framed the operation as a calculated, phased response to US military actions in the region. The choice of the word “phase” is doing a lot of heavy lifting here, suggesting Tehran views this not as a one-off event but as part of a longer campaign with more chapters to come.
Kuwaiti authorities acknowledged intercepting hostile drones but have not confirmed any specific damage assessments. The US military has similarly not provided independent verification of the damage or any casualties resulting from the strikes.
How crypto markets are reacting Bitcoin’s price dipped toward or briefly below $100K as news of the attacks circulated. The $700 million in liquidations tied to the volatility reflects a market that was heavily leveraged going into the news, with long positions getting wiped out as sentiment shifted.
No specific tokens have been directly linked to the events. This is macro risk, the kind that compresses all correlations toward one.
The bigger picture for investors Iran’s aggressive posture represents a meaningful escalation in Gulf tensions, and the fact that strikes have occurred on multiple dates suggests this is not a situation that’s cooling off anytime soon.
The interplay between military conflict and digital asset prices highlights a maturing dynamic. With institutional capital deeply embedded in the space and Bitcoin ETFs holding billions in assets, the transmission mechanism from geopolitical shock to crypto price action is faster and more direct than ever.
Without independent confirmation of damage or casualties from either US or Kuwaiti sources, the market is essentially trading on Iranian state claims, which means it’s trading on incomplete and potentially unreliable data.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
TL;DR
South Korean police dismantled an $8.5 million XRP staking scam, recovering evidence of 3.4 million stolen tokens and arresting three of four suspectsShiba Inu's failed 40% pump exposed extreme wallet concentration, with Etherscan data showing 0.04% of addresses holding 94.56% of supplyBlackRock's IBIT fund pumped $89.83 million into Bitcoin, single-handedly ending a four-day outflow streak across U.S. spot ETFsBitcoin stays stuck between $63,000 and $66,000 as the Fed's hawkish split and 5.23% Treasury yields pressure the market ahead of a historically weak AugustCrypto scam on YouTube: South Korea busts $8.5 million fake XRP staking schemeSeoul police have completely dismantled a criminal group that defrauded investors of 3.4 million XRP tokens. The total losses amounted to 12.3 billion won, or approximately $8.55 million, with 71 people falling victim to the scam, according to Yonhap News Agency.
YouTube became the organizers' main tool for attracting investors, with videos actively promoting promises of easy profits.
HOT Stories
The criminal scheme began in October last year, when the scammers created a fake investment platform called Fxrpntwork.com. Through YouTube videos, posts on popular blogs and articles in online media, they promised investors full protection of their capital and fixed monthly returns of between 1.5% and 1.8%.
Trusting users followed strict instructions: they purchased XRP tokens on South Korean cryptocurrency exchanges, transferred them through an overseas platform to designated wallets, after which the website immediately shut down and the organizers disappeared.
Fraudulent XRP staking website used in the scam that defrauded investors of 12.3 billion won ($8.55 million), Source: Yonhap news agency and Seoul policeHowever, the criminals failed to cash out or hide the stolen funds due to the rapid response of South Korean investigators. Authorities were already monitoring the market amid a rise in cryptocurrency-related crime and reacted immediately. Cyber analysts traced the chain of blockchain transactions and completely froze the scammers' wallets just three days after the first complaint was filed.
After realizing that access to the millions had been blocked, the accomplices attempted to escape in different directions. Investigators arrested the ringleader at a hideout in South Korea shortly after he returned from abroad. Two of his accomplices were detained while attempting to flee deeper into the country, and one of them has already been referred to prosecutors.
The fourth member of the group remains abroad, but an Interpol Red Notice has already been issued for his international arrest.
Seoul police concluded by announcing a zero-tolerance policy toward cryptocurrency fraud and officially urged investors to avoid any platforms offering "guaranteed" returns.
You Might Also Like
Aftermath of SHIB's failed pump: On-chain scanner shows who really profited from retail investorsThe aftermath of Shiba Inu's recent 40% surge continues to weigh on the market. The local hype has faded, the price has pulled back, and fresh data from blockchain scanner Etherscan has exposed the hard numbers: whales quietly disappeared from the radar with their profits, while retail traders were left holding the bag during the decline.
What on-chain data is showing right now:
SHIB has an impressive base of 1.67 million holders, but this creates an illusion of decentralization. A fresh network snapshot shows that, excluding the dead burn address 0xdea...069, which holds 41%, a microscopic group of whales representing only 0.04% of all addresses currently controls 94.56% of the entire circulating supply.SHIB's Gini coefficient stands at a critical 0.9957, where 1 represents absolute monopoly. Small wallets in the Crab and Shrimp categories account for 96% of all holders but control only tiny fractions of a percent of the total capital.Nearly all real liquidity is locked in the balances of several giants. Robinhood holds 3.92%, Binance addresses collectively control more than 4.4%, while Crypto.com holds approximately 3.33%.Shiba Inu (SHIB) holders overview by categories, Source: EtherscanSantiment's report this week, which recorded 52 large transactions worth at least $100,000 per day, was only a symptom. Fresh scanner data shows that SHIB's underlying structure turns every pump into a conveyor belt for unloading large positions.
As soon as retail traders gave in to FOMO and began pushing the price higher, they immediately ran into a wall of liquidity from exchange market makers and major holders. Whales once again used the inflow of fresh capital as the perfect opportunity to cash out and quietly disappeared, leaving millions of small wallets to finance the failed rally.
BlackRock carries Bitcoin alone: $90 million reversal saves crypto ETFs from collapseU.S. spot Bitcoin ETFs have finally pulled out of a steep decline, ending a four-day losing streak. Over the past day, the market attracted a modest but symbolic $32.11 million in net inflows, according to the SoSoValue platform.
The main driver of the comeback was BlackRock's IBIT fund. While its peers continued recording losses, the Wall Street giant made a sharp U-turn and single-handedly brought $89.83 million into Bitcoin.
The spot ETF desk currently looks as follows:
BlackRock's IBIT: +$89.83 million over the past day, making it the clear driving force of the session.Fidelity's FBTC: -$43.08 million as investors continue to exit.Ark Invest's ARKB: -$14.62 million.Overall balance: Selling pressure exceeded $57 million, but BlackRock's powerful buying activity fully offset the losses and pushed the total figure back into positive territory.iShares Bitcoin Trust(IBIT) by BlackRock net inflows over the past 30 days, Source: SoSoValueBitcoin ETFs currently hold $77.46 billion in assets under management, representing 6.08% of the total market capitalization of the leading cryptocurrency.
There has also been activity in the Ethereum ETF segment. The recently launched Morgan Stanley Ethereum Trust, MSSE, reported a daily inflow of $14.30 million, making it the strongest-performing fund focused on the second-largest cryptocurrency.
Crypto market outlook: Federal Reserve split pushes Bitcoin into a summer deadlockBitcoin remains trapped in a tight range between $63,000 and $66,000, showing signs of local consolidation. The Federal Reserve's hawkish position and internal disagreements among policymakers are preventing further growth, pressing the chart against key support levels and creating an extended summer sideways market.
Key checkpoints:
Bitcoin caught in a technical squeeze: The Bitcoin price is currently in a phase of local accumulation. A break below the $63,000 support level would open the door to a prolonged correction, while consolidation above the $66,000 resistance level would return control to the bulls.The Fed's hawkish deadlock: The decision to keep interest rates unchanged at 3.50%–3.75% was accompanied by a split, with three votes calling for an immediate increase. Monetary policy easing has been completely removed from the agenda.Extreme Treasury yields: The yield on 30-year U.S. government bonds climbed to 5.23%, reaching its highest level since 2008. High risk-free returns are pulling liquidity away from the cryptocurrency market.Negative August seasonality: Analysts are highlighting downside risks ahead of August. Current price action closely resembles previous U.S. midterm election cycles, including 2022, when the end of summer was accompanied by a market decline.ETH/BTC capitulation: Ethereum celebrates the 11th anniversary of its mainnet on July 30 as the ETH/BTC pair falls to a 10-month low of 0.02835. Bitcoin dominance continues to suppress the leading altcoin as the market waits for the full launch of testnets for the upcoming Glamsterdam upgrade.DeFi risk cleanup: Major lending protocol Aave is winding down operations across Sonic, Scroll, zkSync, Metis, Soneium and Aptos. The freezing of pools containing $98.1 million signals the industry's shift toward quality and real liquidity instead of chasing hype. You Might Also Like
Spot cryptocurrency exchange-traded funds (ETFs) traded in the US showed a different picture in terms of investor activity. According to SoSoValue data, spot Bitcoin ETFs recorded a total net inflow of $32.11 million, while spot Ethereum ETFs experienced a net outflow of $18.65 million. The data revealed that institutional investor interest continued in Bitcoin, while short-term profit-taking continued in Ethereum funds.
BlackRock’s iShares Bitcoin Trust (IBIT) fund recorded the highest net inflow of the day. IBIT saw a net capital inflow of $89.83 million in a single day, bringing its cumulative net inflow to date to $60.42 billion. Conversely, the largest outflow was seen in the Fidelity Wise Origin Bitcoin Fund (FBTC). FBTC experienced a net outflow of $43.08 million, while its historical total net inflow stands at $9.96 billion.
According to SoSoValue data, at the time of writing, the total net asset value of spot Bitcoin ETFs was calculated at $77.46 billion. The ratio of assets managed by ETFs to Bitcoin’s total market capitalization reached 6.08%, while the total cumulative net inflow into spot Bitcoin ETFs to date amounted to $51.36 billion.
The picture was weaker on the Ethereum side. Despite a total net outflow of $18.65 million from spot Ethereum ETFs, some funds performed positively. Morgan Stanley Ethereum Trust (MSSE) recorded the highest net inflow of the day, receiving $14.30 million, bringing its total net inflow since its inception to $19.45 million.
In second place was BlackRock’s iShares Ethereum Trust (ETHA) fund. ETHA recorded a net inflow of $5.16 million during the day, bringing its historical total net inflow to $11.43 billion.
On the other hand, the biggest outflow of the day was experienced by Fidelity Ethereum Fund (FETH). FETH saw a net outflow of $16.07 million, while its total net inflow to date was announced as $2.11 billion.
This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
Has Also Written
Fact Checked by
CryptoNews Editorial Team
Author
CryptoNews Editorial Team
Part of the Team Since
Sep 2018
About Author
The CryptoNews editorial team is composed of seasoned writers specializing in cryptocurrency and blockchain technology. Their expertise ensures comprehensive, accurate, and insightful content for...
Has Also Written
Last updated:
5 hours ago
A quiet tension settled across global markets after the Federal Reserve delivered its latest policy decision. The FOMC held interest rates steady, but investors quickly realized the pause carried a distinctly hawkish tone. Treasury yields climbed, equities split direction, and Bitcoin, Ethereum, and crypto were left searching for the market’s next catalyst.
Bitcoin ETFs finally returned to net inflows, offering a welcome sign of demand, while Ethereum continued losing its dominance as capital rotated back to Bitcoin. Meanwhile, fresh security incidents and political headlines reminded investors that crypto never sleeps.
Hawkish FOMC Hold Keeps Markets on EdgeThe FOMC held the federal funds rate at 3.50% to 3.75% in a narrow 9-3 vote on July 29. Three regional Fed presidents, Beth Hammack, Neel Kashkari, and Lorie Logan, favored another 25 basis point hike, marking the first time since 2016 that three hawkish officials dissented together. Policymakers cited persistent inflation around 4.1% alongside resilient economic growth, reinforcing expectations that rates could stay elevated longer.
Bitcoin initially welcomed the decision, jumping from $63,700 to nearly $64,700 before giving back most of the gains as traders digested the hawkish language. It later stabilized around $64,000, while Ethereum traded near $1,900 with little conviction. Traditional markets delivered a mixed performance, with the Nasdaq advancing as the Dow weakened, leaving crypto largely range-bound.
The uncertainty sparked heavy liquidations, erasing between $280 million and $316 million across nearly 90,000 to 96,000 traders. Both long and short positions were caught in the crossfire, highlighting widespread indecision. At the same time, US publicly held debt surpassed 100% of GDP for the first time since World War II, adding another layer of macro concern for investors.
Politics also entered the spotlight. Senator Cynthia Lummis briefly lost control of her verified X account after hackers promoted a fake Solana meme coin, $USA Token, through a pump.fun link. The posts disappeared within minutes, but the incident arrived as lawmakers continued negotiations over the CLARITY Act ahead of the August recess, with ethics provisions and crypto-related amendments still under debate.
Discover: The Best Crypto to Diversify Your Portfolio
Bitcoin Holds Firm as ETF Flows ReverseBefore the Fed announcement, Bitcoin had already recovered from weekly lows near $62,400 following weakness in South Korean equity markets. Although the post-decision rally faded, the cryptocurrency continued defending the psychological $64,000 level while finding support above $63,500. Even so, Bitcoin remains roughly 3% to 4% below recent highs near $66,000 as July consolidation continues after last year’s rally.
Institutional demand offered an encouraging signal. Spot Bitcoin ETFs recorded $32.1 million in net inflows on July 29, led by IBIT, ending a multi-day streak of outflows. Ethereum ETFs, however, posted roughly $18.65 million in net outflows, while Solana ETFs attracted around $19 million and XRP products added approximately $0.58 million. The divergence reinforced the ongoing rotation across digital assets and contributed to Ethereum’s declining market dominance.
Bitcoin ETF, CoinglassElsewhere, crypto markets continued navigating operational risks. Ostium disclosed a $24 million off-chain breach while confirming its smart contracts remained uncompromised. Hyperliquid welcomed its first Japanese corporate buyer despite reports of reduced US fund exposure, and Luno announced another round of job cuts as restructuring efforts continued across the industry.
Despite elevated yields, political uncertainty, and mixed macro signals, Bitcoin has shown notable resilience. The defense of the $64,000 level, improving ETF demand, and the absence of panic selling suggest buyers remain active beneath the surface. If institutional inflows continue building and policy expectations stabilize, Bitcoin could be positioning itself for its next decisive move.
Trade Bitcoin and Ethereum on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop
The crypto market is trading in neutral-to-slightly bullish conditions on Thursday, with Bitcoin (BTC) holding above $64,000 while its immediate upside remains capped. Ethereum (ETH) hovers above the $1,900 short-term support level while Ripple (XRP) struggles to gain momentum ahead of a potential nail $1.10 breakout.
US-Iran tensions weigh on risk assetsGeopolitical tensions in the Middle East have escalated in the latter half of the week, as the United States (US) conducted a "heavy wave of strikes" targeting key locations in southern Iran, including Bandar Abbas, Kish, and Qeshm Island.
Meanwhile, reports indicate a US-owned vessel caught fire in a suspected drone attack at an Egyptian port, although local authorities have yet to confirm the cause.
Crude Oil prices remain well supported, with West Texas Intermediate (WTI) trading above $82 per barrel.
Crypto market sentiment is embedded in the Fear territory at 28 on Thursday, down marginally from 29 the day before, as reflected in the Fear & Greed Index. If appetite for risk assets remains largely constrained, price recovery could lag heading into August.
Crypto Fear & Greed Index | Source: AlternativeThe Federal Reserve (Fed) left interest rates unchanged on Wednesday in the 3.50%-3.75% range, broadly meeting market expectations. However, three Federal Open Market Committee (FOMC) members dissented, advocating for a 25-basis-point (bps) increase.
Fed Chair Kevin Warsh adopted a hawkish tone in the post-meeting press conference, underlining the central bank's direction toward “only one target and it is 2%” inflation. Warsh emphasized that the Fed under his leadership “will deliver the 2% target.”
By prioritizing underlying economic trends over short-term data, maintaining elevated nominal and real yields, and engaging in an active policy debate, the Fed signals its willingness to keep financial conditions restrictive for an extended period.
Technical analysis: Bitcoin holds key supportBitcoin trades at $64,259, keeping a bearish near-term bias as it holds below the key Exponential Moving Averages (EMAs). Price is capped first by the 50-day EMA at $64,922, with the 100-day EMA at $67,521 and the 200-day EMA at $73,060 reinforcing a broader topside supply zone.
The Moving Average Convergence Divergence (MACD) histogram remains in negative territory on the daily chart, hinting at persistent downside pressure, while the Relative Strength Index (RSI) around 50 suggests neutral momentum and a lack of strong directional conviction.
BTC/USDT daily chartOn the downside, initial support is seen at the SuperTrend line near $61,034, which acts as the first structural floor should selling extend. As long as BTC trades beneath the 50-day and 100-day EMAs, rallies are likely to be constrained by these overhead levels, and a clear recovery above $64,922 would be needed to ease the current bearish tone and open the way toward $67,521 and then $73,060.
"Bitcoin's stability comes despite geopolitical factors that are unlikely to subside anytime soon, which fuel strict monetary policy outlooks around the world and increase constraints on liquidity flows into cryptocurrencies," Simon-Peter Massabni, XS.com Business Development Head, said in a comment.
Altcoins technical outlook: Ethereum and XRP sustain neutral-to-bullish toneEthereum trades above $1,900, holding a neutral-to-slightly bullish tone as it sits above the 50-day EMA at roughly $1,848 and the SuperTrend support near $1,741, yet still capped by the 100-day EMA at about $1,932 and the distant 200-day EMA around $2,166.
The RSI hovers near 57 on the daily chart, hinting at mild bullish momentum, while the MACD has slipped marginally into negative territory with a soft bearish cross, suggesting upside attempts may face headwinds while the pair consolidates between these key moving averages.
ETH/USDT daily chartOn the topside, immediate resistance emerges at the 100-day EMA around $1,933, and a sustained break above this level would open the way toward the broader bearish cap from the 200-day EMA near $2,166. On the downside, initial support is seen around the current price area and the 50-day EMA at about $1,848, with a deeper pullback likely finding structural demand at the SuperTrend line near $1,741, where buyers would be expected to defend the broader recovery structure.
XRP, on the other hand, remains capped below the Bollinger Bands middle layer $1.10 and well under the 50-day EMA near $1.13, keeping the near-term bias tilted to the downside. The spot price is hovering closer to the lower half of the Bollinger envelope, with the lower band offering a cushion around $1.05.
Momentum indicators are softening as the RSI slips below the midline near 45 and the MACD turns marginally negative, together suggesting fading upside pressure and risk of further consolidation or pullback.
XRP/USDT daily chartImmediate resistance aligns first with the Bollinger midline at $1.10, followed by the 50-day EMA around $1.13 and the upper Bollinger Band layer near $1.14. Beyond that, the 100-day EMA at $1.21 and the 200-day EMA near $1.42 form broader bearish caps that would need to be reclaimed to improve the medium-term structure.
On the downside, initial support is seen at the lower Bollinger band around $1.05, where a decisive break would open the door to a deeper correction toward prior psychological and horizontal level $1.00, while holding above this floor would keep the current range-bound, corrective phase in place.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Bitget has firmly established its position as one of the top liquidity providers for Bitcoin and Ethereum derivatives trading in the first half of 2026, as revealed in the latest report on crypto derivatives market performance by CoinGlass. The results follow industry-wide decline in overall derivatives trading activity, with better quality/depth of execution becoming more important.
Bitget Shines In Crypto Derivatives Market The report revealed that Bitget’s Ethereum order-book size for ±1% range had the second largest depth. Among exchanges that were studied, the exchange had $81.37 million in ETH liquidity, which represents 21.4% of the liquidity. Bitget was the next best, trailing only Binance.
Bitget was ranked 4th in terms of order book depth with $71.70 million, with a margin of ±1% from the mid price in Bitcoin. This accounted for 13.4% of total liquidity combined across the listed trading platforms.
CoinGlass also pointed to downtrend trading conditions in the first six months of this year. The average daily cryptocurrency derivatives trading volume and open interest in H1 2026 fell by 15.7% and 10.0% year over year, respectively. The decline in the open interest was less than the trading volume, signaling that market participants purchased and sold trades during sluggish trading activity, which further highlighted the need for deep liquidity to execute trades.
“The derivatives markets remain sensitive to volatility even when overall trading activity moderates,” stated Gracy Chen, CEO of Bitget. “In this environment, liquidity depth has become a core measure of exchange’s trust and performance.”
A Surge In Institutional Participants In addition, Bitget also noted that its platform was witnessing an increase in institutional participation. According to the internal data, by December 2025, the spot trading volume of the exchange was 82% institutional investors. The company has previously announced upgrades to its PRO and Liquidity Incentive Programs, which included a revision to trading fee, market-making incentive, and liquidity support offers on all digital asset and traditional financial market products earlier this month.
The CoinGlass report also documented Bitget’s growth in the traditional finance sector products. In the H1 2026, the exchange recorded $66.41 billion in the trading volume of TradFi perpetual contracts, making up 5.5% of the trading volume of the five exchanges evaluated in the category.
The numbers represent the growing market appetite for traditional market exposure via Bitget’s crypto-native trading infrastructures, as the company advances its Universal Exchange model across the crypto, tokenized asset and traditional financial markets.
In This Article Crypto News Today: US Targets Iran's Crypto Holdings, Sanctions Iran's HormuzSafe over Bitcoin Payments Used to Evade RestrictionsTether Expands Into Africa With Nairobi Exchange Deal In crypto news today (July 30), Bitcoin climbed -0.5% overnight, dropping below $64,000 following yesterday’s FOMC meeting, in which a rate hike wasn’t announced but SEC Chair Paul Atkins hinted at hikes to come, causing a slight sell-off across crypto. However, crypto held up well in comparison to the US stock market, which saw $1Bn wiped out overnight.
One glimmer of hope from yesterday came in the form of ETF flows. Bitcoin funds snapped a four-day outflow streak, finishing the day with $32.1M in inflows, with BlackRock buying $89.8M, countering Fidelity selling $43.1M in BTC.
With the total crypto market cap down around -0.5% overnight, it has dropped to $2.27 trillion. Daily trading volume across crypto sits at $63.4Bn, up from yesterday’s figure of around $61Bn.
The Fear & Greed Index is sitting at 28/100, down one point from yesterday, and within ‘Fear’ territory. This lack of movement reflects a market still digesting yesterday’s speech from Paul Atkins at the FOMC meeting before making moves.
Crypto News Today: US Targets Iran’s Crypto Holdings, Sanctions Iran’s HormuzSafe over Bitcoin Payments Used to Evade Restrictions The US Treasury Department has imposed sanctions on two Iranian maritime organizations connected to an insurance network that it claims is controlled by the Islamic Revolutionary Guard Corps (IRGC). Officials stated that one of these entities accepted Bitcoin and other digital assets to bypass international sanctions.
According to the Treasury’s press release, the Office of Foreign Assets Control (OFAC) sanctioned the Persian Gulf Marine Insurance Company and the HormuzSafe Marine Services Authority. US authorities allege that these organizations operated an insurance scheme requiring commercial vessels to purchase approved policies before passing through the Strait of Hormuz.
The Treasury also added eight companies associated with Iran’s so-called shadow fleet to its sanctions list and blocked eight vessels. OFAC claims HormuzSafe accepted payments in Bitcoin and other cryptocurrencies to evade sanctions.
The agency alleges that the proceeds from these activities were used to finance the Islamic Revolutionary Guard Corps (IRGC) and that the scheme contributed to Iran’s strengthened control over shipping in the Strait of Hormuz.
The US Treasury Department just sanctioned two Iranian companies for extorting vessels passing through the Strait of Hormuz. HormuzSafe and the Persian Gulf Marine Insurance Company offered "insurance" plans in exchange for payments in crypto.
Chainalysis has investigated these…
— Chainalysis (@chainalysis) July 29, 2026
Tether Expands Into Africa With Nairobi Exchange Deal In other crypto news today, Tether has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) to explore blockchain-based capital market infrastructure, tokenized securities, and digital asset education in Kenya. This partnership is part of a broader effort to modernize one of Africa’s largest stock exchanges and to expand access to digital financial services for both local and international investors.
According to Tether, the agreement focuses on evaluating blockchain applications for securities trading, enhancing investor education, and improving market infrastructure. It supports the NSE’s broader strategy to adopt new financial technologies and increase participation in Kenya’s capital markets.
The collaboration will examine how distributed ledger technology (DLT) can facilitate the tokenization of financial assets and reduce settlement times on the Nairobi Securities Exchange. The companies plan to assess the use of Tether’s Hadron tokenization platform to enable the issuance and trading of tokenized securities and other real-world assets.
The initiative also includes exploring instant settlement mechanisms that could replace the exchange’s current multi-stage settlement process. Additionally, the potential use of USDT as part of a digital settlement infrastructure will be reviewed, where permitted under applicable regulations.
The Nairobi Securities Exchange has signed a Memorandum of Understanding with Tether to explore digital asset education, tokenization and financial market innovation.
NSE CEO Frank Mwiti said the deal aligns with its 2025-2029 Strategic Plan, while Tether CEO Paolo Ardoino… pic.twitter.com/Rd4WTvEkmp
— Kenyan Wall Street (@kenyanwalstreet) July 28, 2026
LIVE UPDATES
#Live Updates
Why you can trust 99Bitcoins
10+ Years
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
90hr+
Weekly Research
100k+
Monthly readers
50+
Expert contributors
2000+
Crypto Projects Reviewed
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
Alex Ioannou
On-Chain Journalist
Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More
Free Bitcoin Crash Course Enjoyed by over 100,000 students. One email a day, 7 days in a row. Short and educational, guaranteed!
Bitget Wallet will launch Assetback on Aug. 1, allowing eligible card users to convert purchase rewards automatically into Bitcoin, tokenized gold, U.S. equity tokens, an exchange-traded fund token or USDC.
Summary
Seven reward assets include Bitcoin, tokenized gold, three U.S. stocks, an ETF, and USDC options. Eligible cardholders receive 2% base rewards, while qualifying users can unlock 3% during booster periods. Rewards become redeemable seven days after transactions and require at least one USDC before withdrawal. The company said users can select one of seven assets: BTC, Tether Gold, tokenized Nvidia, Tesla and Alphabet shares, an S&P 500 product, or USDC. Rewards will be generated from qualifying purchases made with the Bitget Wallet Card.
Bitget Wallet replaces cash rewards with seven assets Assetback provides a 2% base reward for cardholders. New users and customers who meet a monthly spending threshold can receive up to 3% through a booster tier. Once unlocked, the higher rate applies during that calendar month and the next one.
Users may change their selected reward asset once each month. USDC rewards are credited to the card balance, while other rewards can be moved to a rewards account after reaching at least one USDC in accumulated value. Redemption becomes available seven days after the underlying transaction.
However, the advertised rate does not apply to every payment. Bitget Wallet says monthly caps, merchant-category exclusions and risk reviews apply. Refunded, reversed or cancelled transactions do not qualify. The model also replaces the card’s previous zero-fee rewards program, so users should review regional fees and limits.
Tokenized stocks provide exposure, not standard shares The stock and ETF rewards will use xStocks, which issues blockchain tokens backed by securities held in custody. Available choices include Nvidia, Tesla, Alphabet and an S&P 500-linked product. xStocks says each token is backed one-for-one by underlying securities.
However, tokenized equities are not identical to holding shares through a conventional brokerage account. Rights, redemption access, trading availability and investor protections depend on the issuer, platform and user’s location. Bitget Wallet also describes the rewards as available only to eligible users.
As previously reported, Bitget Wallet added more than 130 xStocks products in May, allowing users to access tokenized equities through its self-custodial application. In related coverage, crypto.news explained how tokenized stocks work, including issuer, custody, liquidity and regulatory risks.
Card access still depends on each user’s region Bitget Wallet says the card serves markets across Europe, Asia and Latin America, with availability also expanding in Africa. Its official card page states that cards may operate through Visa or Mastercard depending on the regional issuing partner. The product supports Apple Pay and Google Pay in eligible markets.
The card converts selected crypto assets to fiat when users pay merchants. Official terms state that customers must complete identity checks and live in supported jurisdictions. The terms also permit applicable conversion, foreign-exchange and other charges, meaning Assetback should not be treated as a guaranteed net return.
Bitget Wallet says it has more than 100 million users and that spending through its card nearly tripled during the first half of 2026. It also cited monthly crypto-card payment volume of $656 million in May, up from $271 million one year earlier. Those figures are company-provided and have not been independently audited.
The Aug. 1 rollout will test actual demand Users will need Bitget Wallet app version 9.5.3 or later to access the updated card. After selecting an asset, eligible cashback will be converted automatically, creating small recurring purchases rather than requiring a separate trade after every card payment.Bitget Wallet describes the process as applying “dollar-cost averaging” to routine spending. That is a company characterization, not a promise that the selected assets will gain value. Bitcoin, tokenized gold and equity-linked products can rise or fall after rewards are credited.
There is no verified market reaction because Bitget Wallet is not publicly traded and the announcement does not introduce a new token. The next measurable updates will be redemption activity, reward volumes and whether regional cardholders adopt non-cash rewards after Aug. 1.
U.S. June core PCE price index rose 3.3% year-over-year, down from 3.4% in the prior month and in line with market expectations.
2 minutes ago
South Korea's "ETF Father" argues that single-stock leveraged products should not be forcibly delisted, and suggests that investments should cover the entire semiconductor industry chain.
Jae-gyoo Bae, known as South Korea’s "ETF Father" and CEO of a local investment management firm, stated today that single-stock leveraged products tracking Samsung Electronics and SK Hynix should be phased out gradually rather than delisted forcibly. For such products, investors’ best option is "not to invest". He warned that during periods of high market volatility, daily rebalancing and compound effects can rapidly erode product value. Investors often attempt to bottom-fish for rebounds after market dips, but this strategy is unlikely to deliver sustainable wealth growth. He also advised investors not to concentrate their bets on a single memory chip manufacturer, but to invest across the entire semiconductor industry chain. Bae noted, "The memory chip industry remains highly cyclical." Samsung Electronics, SK Hynix, and Micron Technology are continuing to expand investments, while regional competition is intensifying. The AI-driven semiconductor boom has pushed market performance beyond expectations, but he suggested investors focus on the industry’s long-term growth prospects rather than short-term price fluctuations.
2 minutes ago
US initial jobless claims for the week ended July 25 totaled 197,000, versus the consensus estimate of 200,000.
U.S. initial jobless claims for the week ended July 25 came in at 197,000, against expectations of 200,000, with the prior week’s figure revised from 187,000 to 188,000.
2 minutes ago
US June core PCE price index year-over-year came in at 3.3%, matching the consensus forecast of 3.30%.
The U.S. core PCE price index rose 3.3% year-over-year in June, in line with expectations of 3.30% and down from the prior reading of 3.40%.
2 minutes ago
Newly created wallet withdraws 1,250 $BTC ($80.94M) from Binance
A newly created wallet (bc1qwz) just withdrew 1,250 $BTC($80.94M) from #Binance.
2 minutes ago
Bitcoin breaks through $65,000, with a 0.94% gain in the last 24 hours.
According to HTX market data, Bitcoin has broken through the $65,000 threshold, posting a 0.94% gain in the past 24 hours.
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.
@Stacks has officially activated the PoX-5 hardfork, a terminal upgrade to its Proof of Transfer consensus mechanism that deepens the relationship between $BTC and $STX. The activation marks a significant milestone for the network, laying the technical groundwork for self-custodial Bitcoin staking.
What PoX-5 Changes Stacks activated its PoX-5 hard fork at Bitcoin block 960,230, adding the consensus infrastructure for Bitcoin staking. The centrepiece of the upgrade is a new product called Bitcoin Bonds. The upgrade introduces Bitcoin Bonds, which allow users to lock $BTC on the Bitcoin network and pair it with $STX on Stacks to earn BTC-denominated yield while retaining control of their Bitcoin keys.
To participate, Bitcoin holders lock their BTC on the Bitcoin Layer 1 network using a timelock mechanism and pair it with STX. No bridging required. No custodial transfers. The initial bootstrap phase carries a capacity cap of 3,000 BTC, with a projected yield of around 3% APY paid in BTC and a minimum STX pairing ratio of 5%.
On the revenue distribution side, PoX-5 introduces a waterfall distribution model, with protocol bond holders sitting at the top of the payment queue and an initial target yield of roughly 3% APY. STX-only stakers receive 85% of any surplus revenue, while the protocol reserve fund absorbs the remaining 15%.
What Stakers Must Do Now All STX committed through the previous contract unlocks during the upgrade as staking moves to the new PoX-5 contract. Users must restake before Bitcoin block 962,050 to receive rewards during the first cycle after the hard fork. Solo stakers can restake once the upgrade becomes active, while pool participants must wait for their provider to update its infrastructure and reopen staking.
Holders who are not actively staking need not act. The hard fork does not create a new token and will not affect STX balances, wallet addresses, or private keys. Major exchanges are currently monitoring network stability before reopening deposits and withdrawals.
Following activation, Stacks plans to begin the Bitcoin staking rollout with the institutional Genesis Bond in late August before expanding capacity to additional participants. The PoX-5 codebase has been audited by Trail of Bits and Clarity Alliance, with additional review from Asymmetric Research.
Sources:
Crypto Briefing: Stacks activates PoX-5 upgrade to launch Bitcoin staking
PrimeXBT: Stacks activates PoX-5 hard fork, opening Bitcoin staking through Bitcoin Bonds
Stacks Official Blog: The Public PoX-5 Testnet Is Live
North Korea-linked hacking group Lazarus has once again drawn attention after moving 121.5 BTC, worth around $7.74 million, to two unidentified wallet addresses. Blockchain tracking platforms Arkham Intelligence and Lookonchain flagged the transfer. However, the purpose behind the transaction remains unknown. Given the group’s long history of laundering stolen crypto, security experts believe the movement is worth monitoring closely.
121.5 BTC Sent to Unknown WalletsAccording to Arkham Intelligence, the transfer took place roughly an hour before it was detected. Lookonchain confirmed that the funds originated from a wallet associated with the Lazarus Group.
While there is no confirmation that the Bitcoin has been moved to exchanges or mixing services, investigators are expected to track the funds for signs of laundering or cash-out attempts.
Lazarus Still Leads Crypto Theft in 2026The latest transaction comes as cybersecurity reports show that the first half of 2026 became the worst six-month period ever for crypto hacks.
According to a Blockaid security report:
212 exploits were recorded during the first half of 2026.Total losses reached $1.1 billion, more than 3.4 times the number of incidents seen during all of 2025.The Lazarus Group accounted for nearly 55% of total losses, stealing approximately $609 million.The group’s two biggest attacks this year targeted:
KelpDAO: $292 millionDrift Protocol: $285 millionTogether, those two breaches resulted in $577 million in stolen funds.
Private Keys Remain the Biggest WeaknessThe report found that compromised private keys caused 74% of all stolen funds in 2026. This highlights that wallet security continues to be the biggest vulnerability across the crypto industry.
Blockaid also reported the first-ever AI prompt injection exploit, where an attacker manipulated an AI-powered crypto agent into approving a fraudulent transaction worth $216,000. This marks a new type of security threat for decentralized finance.
CLARITY Act Targets Lazarus TacticsThe recent Bitcoin transfer also comes as U.S. lawmakers continue pushing the CLARITY Act. Senator Cynthia Lummis recently said the legislation directly addresses the loopholes that allowed the Lazarus Group to steal an estimated $6.75 billion in crypto over time.
According to Lummis, the bill would introduce stronger asset-freezing tools and expanded sanctions authority, giving exchanges and the U.S. Treasury more power to block suspicious transactions before stolen funds can be moved overseas.
Although the destination of the latest 121.5 BTC transfer remains unknown, the movement highlights that Lazarus continues to actively manage its crypto holdings. As a result, blockchain investigators and regulators remain on high alert.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin’s [BTC] recent price increase is shifting focus towards how long-term holders (LTH) are reacting to current market conditions. Instead of increasing the distribution rate, LTH activity still points to measured profit-taking during periods of strength.
Recent Long-Term Holder SOPR data supports that view, printing another notable spike after similar peaks around the 5th of April and the 21st of June.
Since then, the metric has dropped down to about 0.85. However, the repeated spikes above the 1.00 baseline indicate that LTH are continuing to take profits.
Source: CryptoQuant Nevertheless, broader ownership trends remain constructive. The LTH/STH Realized Cap Ratio has climbed to 3.9, approaching the historical 4.0 cycle-bottom threshold. As realized capital increasingly shifts toward long-term holders, short-term participation weakens.
In the 24 hours starting March 12, 2020, Bitcoin plunged from roughly $7,900 to $3,600, shredding over-leveraged longs across every derivatives venue. At the center of the storm was BitMEX, the exchange that had practically invented the perpetual swap. Its matching engine went dark for about 25 minutes—a gap that, according to a veteran user’s retrospective, may have interrupted a self-reinforcing liquidation spiral and prevented Bitcoin from trading far lower.
As recounted in the original report, BitMEX’s infrastructure defined how the industry built derivatives. Funding rates, mark prices, insurance funds, auto‑deleveraging—all became standard components, many introduced first by BitMEX. But that same architecture nearly devoured itself during the March 12 cascade, exposing a fragility that would ultimately hand the market to a rival.
BitMEX’s inverse contracts were at the core of the problem. Traders posted Bitcoin as margin on Bitcoin‑denominated positions. When the price tanked, the value of every user’s collateral fell in unison, accelerating liquidations. The exchange’s insurance fund, designed to absorb unfilled liquidations before socializing losses, drained quickly. With the liquidation engine overwhelmed, BitMEX went offline—an unplanned halt that stopped the cascading sell‑off, frozen in place. The outage was an operational failure, but it functioned like a crude circuit breaker. Whether that saved crypto from a deeper wound or simply delayed liquidations that would have occurred anyway remains a point of debate.
The March 12 Liquidation Cascade and the Accidental Circuit Breaker Inverse perpetuals had been BitMEX’s signature product. They let traders avoid stablecoins entirely, but the symbiotic relationship between collateral and price created a doom loop: falling prices reduced margin, triggering more liquidations, which pushed prices lower still. On March 12, Bitcoin’s sell‑off was amplified by this very mechanism. When the insurance fund hit its limit, the ADL system began assigning losing positions directly to counterparties. Then the platform went dark.
The 25‑minute outage coincided with the most violent part of the move. When trading resumed, the cascade had broken, and Bitcoin stabilized. Many traders lost everything; the exchange later infamously attempted to claw back funds from profitable accounts. Still, the user’s reflection suggests that without the forced pause, the sequence could have driven BTC significantly lower than $3,600. It was an accidental safety valve in a market that lacked formal circuit breakers at the time.
This episode occurred before decentralized finance had matured and when centralized derivatives platforms dominated liquidity. It also came months before the regulatory landscape for exchanges would shift radically.
Why Bybit Captured the Market That BitMEX Built While BitMEX grappled with operational stumbles and a dated interface, Bybit moved aggressively. It offered USDT‑margined perpetuals, which insulated traders from the collateral feedback loop. No longer did a falling market immediately erode the value of the margin itself. Bybit’s platform was faster, its mobile experience superior, and it layered on features like copy trading for retail traders long before its rival. That product focus mattered.
Regulatory pressure compounded BitMEX’s problems. In October 2020, U.S. authorities charged the exchange and its founders with violating the Bank Secrecy Act. The case triggered leadership changes and a prolonged period of defensive product development. The legal and policy environment has only grown more intense since; today, even landmark crypto legislation faces resistance from traditional finance, as the recent fight over the GENIUS Act showed—a struggle where banks pushed hard to reshape the bill just days before a Senate vote. Against that backdrop, users gravitated toward exchanges that could iterate quickly without appearing legally vulnerable.
The result was a steady migration. Bybit built a broader “super‑app” model, expanding into spot, options, and earn products while retaining derivatives as the engine. BitMEX, by contrast, remained heavily reliant on BTC‑margined contracts and never matched the onboarding ease that newer platforms offered. It wasn’t just about technology; it was about user experience and perceived safety.
BitMEX’s Legacy: Infrastructure Innovator, Operational Cautionary Tale The derivatives market that exists today—worth tens of billions in daily volume—runs on concepts BitMEX pioneered. Funding rates prevent perpetuals from drifting too far from spot. Mark prices reduce manipulation risk during liquidations. Insurance funds are the first line of defense before losses cascade. These mechanics are now table stakes, embedded in every major exchange and even in on‑chain perp protocols. The maturation of market infrastructure is clear: institutional tokenization deals and prime brokerage integrations are reshaping the space, as seen in recent market structure moves where real‑world assets crossed $20 billion on‑chain and legacy financial firms began settling directly with crypto platforms.
Yet BitMEX’s decline also serves as a warning. It held a commanding lead but lost it through a combination of regulatory paralysis, UI inertia, and a failure to adapt the product stack. The exchange’s creative engine was undeniable; its ability to defend market share was not.
What’s Still Unclear Whether the March 12 outage truly “saved” Bitcoin is a counterfactual that can’t be resolved. Markets often find floors after panic, and other venues were still trading. The forced halt may have offered breathing room, or it may have simply concentrated risk for the next session. What is certain is that the event exposed the lethality of inverse contract design during volatility and forced every exchange to reconsider its liquidation engine and insurance fund architecture.
Another open question is how much of Bybit’s rise was inevitable. USDT‑margined contracts solved a genuine capital efficiency problem for retail traders, and BitMEX’s regulatory battles left a vacuum. But faster iteration and a smoother on‑ramp mattered just as much. The lesson for derivatives venues is straightforward: market structure innovations alone do not guarantee loyalty if the trading experience becomes a liability. BitMEX built the rails; Bybit made them easier to ride.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
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.
Arthur Hayes believes Bitcoin’s sluggish performance isn’t because liquidity has disappeared. Instead, he says the AI investment boom has become the market’s biggest capital magnet, absorbing nearly every fresh dollar that would have otherwise flowed into crypto.
Speaking with Bonnie Blockchain on June 26, Hayes explained why Bitcoin continues to lag even as global money supply expands.
Where Is All the Money Going?Hayes pointed to the explosion in AI-related investments as the biggest reason Bitcoin has failed to rally.
According to him, the rise in dollar M2 has been largely matched by massive spending on AI companies and their supply chains. Instead of buying Bitcoin, investors are pouring money into semiconductor manufacturers, AI hardware firms, and companies supporting the artificial intelligence ecosystem.
He compared today’s AI frenzy to the way investors previously chased Apple’s suppliers whenever Apple entered a new growth cycle. In his view, AI has simply become the market’s dominant trade.
Why AI Profits Aren’t Flowing Into CryptoMany investors expected profits from AI stocks to eventually rotate into Bitcoin. Hayes disagrees.
He said people who made substantial money from AI are first spending on real-world assets like homes, luxury cars, expensive watches, premium travel, and even private aircraft. Others are choosing to diversify by buying more Nasdaq-listed technology companies instead of entering crypto.
Hayes also noted that Bitcoin’s recent price performance has weakened its appeal as an inflation hedge for many investors. Rather than buying BTC, some may simply decide they should own more technology stocks instead.
Because of that, he doesn’t expect meaningful AI-driven capital to move into crypto until the AI investment narrative begins to break down.
If AI Falls, Crypto Won’t Be SafeHayes also pushed back against the idea that a correction in AI stocks would automatically benefit Bitcoin.
Instead, he expects Bitcoin and the broader crypto market to initially fall alongside AI equities. During periods of market stress, investors typically sell their most liquid assets first to meet margin calls and raise cash quickly. Since crypto trades 24/7, Hayes says it often becomes the first asset class investors liquidate.
What Happens After the Sell-Off?Although Hayes expects crypto to decline alongside AI during the initial panic, he doesn’t think that correlation will last forever.
Once forced selling eases, markets will begin separating the strongest assets from the weakest. Hayes believes only after the AI boom loses momentum will investors seriously reconsider Bitcoin and other digital assets.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
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.
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.
SKHX's funding rate on Binance is now 2.1 times that on Hyperliquid.
According to Hyperinsight’s monitoring, the current funding rate for SKHX on Hyperliquid has risen to 0.0373% per hour, paid by long positions to short positions. On Binance, the SKHYNIXUSDT funding rate is approximately 0.3141% every four hours, about 2.1 times that of Hyperliquid over the same period. Calculated at current rates, holding a $10,000 long position would incur a 24-hour funding cost of roughly $89.6 on Hyperliquid and about $188.4 on Binance, a difference of approximately $98.8. Over the past 24 hours, the cumulative settled funding rate for SKHX on Hyperliquid stood at around 0.3925%, while the current hourly rate has risen to roughly 2.3 times the 24-hour average, accelerating cost increases for long positions.
1 seconds ago
Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $32.1 million, while U.S. spot Ethereum ETFs recorded a net outflow of $32.9 million.
According to data from FarsideUK, U.S. Bitcoin spot ETFs saw a total net inflow of $32.1 million yesterday. Among them, BlackRock’s IBIT recorded a net inflow of $89.8 million, Fidelity’s FBTC posted a net outflow of $43.1 million, ARK 21Shares’ ARKB had a net outflow of $14.6 million, while the remaining ETFs saw roughly flat capital flows. U.S. Ethereum spot ETFs, meanwhile, posted a total net outflow of $32.9 million. Breakdown: BlackRock’s ETHA saw a net inflow of $5.2 million, Fidelity’s FETH had a net outflow of $16.1 million, Grayscale’s ETHE recorded a net outflow of $9.7 million, Grayscale’s ETH posted a net outflow of $8.1 million, Bitwise’s ETHW saw a net outflow of $1.4 million, and TETH had a net outflow of $2.8 million; the rest of the ETFs had largely flat capital flows.
1 seconds ago
Leveraged ETFs tracking South Korea’s semiconductor storage sector plunged, with the Southern 2x Long SK Hynix ETF falling over 17%.
The South Korean storage sector continues to face pressure. As of press time, Hong Kong-listed leveraged ETFs are broadly lower. The Nanfang 2x Long Samsung Electronics (07747) declined 7.65% to HK$54.58; the Nanfang 2x Long SK Hynix (07709) dropped 17.13% to HK$27.10.
1 seconds ago
China's A-share ChiNext Index and STAR 50 Index both fell more than 6% before midday trading.
China's ChiNext Index and STAR 50 Index both fell more than 6% before midday trading, the Shenzhen Component Index dropped nearly 3.86%, and the Shanghai Composite Index declined 1.2%.
1 seconds ago
Address linked to Bitminter founder transfers 829 BTC, some assets move after lying dormant for 8 years
According to monitoring by Emmett Gallic, addresses linked to Geir Harald Hansen, founder of early Bitcoin mining pool Bitminter, recently transferred 829 BTC, with some of these coins moving on-chain for the first time in 8 years. Publicly available information shows that Bitminter, founded by Hansen, was one of the major early Bitcoin mining pools, at its peak accounting for nearly 10% of the network’s total hash rate and having mined approximately 208,232 BTC in total.
1 seconds ago
Meme token STONKBROKER on Robinhood Chain briefly hit a $30 million market cap, surging 54.52% in the past 24 hours.
According to GMGN market data, STONKBROKER’s market capitalization briefly touched $30 million, and currently stands at $29.33 million, with a 24-hour gain of 54.52%.
Japanese game developer Gumi said it will begin operating a 3 billion yen (about $18.3 million) crypto asset fund on Saturday with SBI Financial Services and backing from Daiwa Securities Group and other investors.
The fund is operated by SBI Crypto Fund, a joint venture owned 51% by SBI Financial Services and 49% by Gumi subsidiary gC Labs.
According to Gumi’s Tuesday announcement, the fund will invest primarily in Bitcoin and major altcoins, using staking, portfolio rebalancing and hedging strategies.
The company said the fund’s mission is to bridge Japan’s corporate sector and the crypto market while building an operational track record ahead of a possible future lifting of Japan’s ban on crypto exchange-traded funds.
The launch builds on Gumi’s expanding crypto business, which includes managing its own crypto holdings centered on XRP, portfolio management services through Hinode Technologies and crypto investment funds.
The company’s latest annual report shows crypto has become a significant part of its balance sheet. As of April 30, 2026, Gumi held 14.13 billion yen in crypto assets, nearly doubling from 7.58 billion yen a year earlier.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
SKHX's funding rate on Binance is now 2.1 times that on Hyperliquid.
According to Hyperinsight’s monitoring, the current funding rate for SKHX on Hyperliquid has risen to 0.0373% per hour, paid by long positions to short positions. On Binance, the SKHYNIXUSDT funding rate is approximately 0.3141% every four hours, about 2.1 times that of Hyperliquid over the same period. Calculated at current rates, holding a $10,000 long position would incur a 24-hour funding cost of roughly $89.6 on Hyperliquid and about $188.4 on Binance, a difference of approximately $98.8. Over the past 24 hours, the cumulative settled funding rate for SKHX on Hyperliquid stood at around 0.3925%, while the current hourly rate has risen to roughly 2.3 times the 24-hour average, accelerating cost increases for long positions.
1 seconds ago
Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $32.1 million, while U.S. spot Ethereum ETFs recorded a net outflow of $32.9 million.
According to data from FarsideUK, U.S. Bitcoin spot ETFs saw a total net inflow of $32.1 million yesterday. Among them, BlackRock’s IBIT recorded a net inflow of $89.8 million, Fidelity’s FBTC posted a net outflow of $43.1 million, ARK 21Shares’ ARKB had a net outflow of $14.6 million, while the remaining ETFs saw roughly flat capital flows. U.S. Ethereum spot ETFs, meanwhile, posted a total net outflow of $32.9 million. Breakdown: BlackRock’s ETHA saw a net inflow of $5.2 million, Fidelity’s FETH had a net outflow of $16.1 million, Grayscale’s ETHE recorded a net outflow of $9.7 million, Grayscale’s ETH posted a net outflow of $8.1 million, Bitwise’s ETHW saw a net outflow of $1.4 million, and TETH had a net outflow of $2.8 million; the rest of the ETFs had largely flat capital flows.
1 seconds ago
Leveraged ETFs tracking South Korea’s semiconductor storage sector plunged, with the Southern 2x Long SK Hynix ETF falling over 17%.
The South Korean storage sector continues to face pressure. As of press time, Hong Kong-listed leveraged ETFs are broadly lower. The Nanfang 2x Long Samsung Electronics (07747) declined 7.65% to HK$54.58; the Nanfang 2x Long SK Hynix (07709) dropped 17.13% to HK$27.10.
1 seconds ago
China's A-share ChiNext Index and STAR 50 Index both fell more than 6% before midday trading.
China's ChiNext Index and STAR 50 Index both fell more than 6% before midday trading, the Shenzhen Component Index dropped nearly 3.86%, and the Shanghai Composite Index declined 1.2%.
1 seconds ago
Address linked to Bitminter founder transfers 829 BTC, some assets move after lying dormant for 8 years
According to monitoring by Emmett Gallic, addresses linked to Geir Harald Hansen, founder of early Bitcoin mining pool Bitminter, recently transferred 829 BTC, with some of these coins moving on-chain for the first time in 8 years. Publicly available information shows that Bitminter, founded by Hansen, was one of the major early Bitcoin mining pools, at its peak accounting for nearly 10% of the network’s total hash rate and having mined approximately 208,232 BTC in total.
1 seconds ago
Meme token STONKBROKER on Robinhood Chain briefly hit a $30 million market cap, surging 54.52% in the past 24 hours.
According to GMGN market data, STONKBROKER’s market capitalization briefly touched $30 million, and currently stands at $29.33 million, with a 24-hour gain of 54.52%.
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.
Japan’s institutional crypto machine just added another gear. Gaming firm gumi Inc. and financial giant SBI have jointly launched SBI Crypto Fund I, a structured investment vehicle targeting Bitcoin and major altcoins that began operations on August 1, 2026.
The fund carries a target size of 3 billion yen, roughly $18.3 million, and will deploy capital through strategies including staking, hedging, and portfolio rebalancing.
How the fund is structured The vehicle operates through SBI Crypto Fund LLC, with SBI Financial Services holding a 51% stake and gumi’s subsidiary gC Labs owning the remaining 49%.
Advertisement
Daiwa Securities Group and Yamada Securities Group are also listed as investors.
The fund focuses exclusively on exchange-listed Bitcoin and major altcoins.
Gumi’s crypto ambitions go well beyond this fund Gumi has been building its digital asset operation since at least 2018. As of April 30, 2026, gumi’s total crypto treasury was valued at approximately 14 billion yen, or about $86 million. The company has described its goal as becoming Japan’s largest XRP treasury company.
SBI currently holds approximately 34% of gumi, a position it established through a capital and business alliance formed in 2022.
Gumi has also created a dedicated “Neo Crypto” division to house these expanding digital asset activities. The division is designed to accumulate operational experience and position the company for the approval of cryptocurrency ETFs in Japan.
What this means for Japan’s institutional crypto market The involvement of Daiwa Securities Group is particularly notable. Daiwa is one of Japan’s largest and most established securities firms, and its participation signals that the fund passed at least some level of institutional due diligence.
Gumi’s explicit preparation for potential crypto ETF approvals in Japan adds another layer to the strategy. If Japanese regulators do eventually greenlight crypto ETFs, firms that have already built fund infrastructure, regulatory relationships, and operational track records will be positioned to move quickly.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Critics have challenged the forecast, arguing that BTC's historical tops have consistently arrived after, not before, halvings.
Bitcoin (BTC) could climb to between $380,000 and $450,000 from March 2028, according to crypto analyst Sykodelic, whose latest market outlook has sparked a heated debate on X over whether the current bear market is actually a mid-cycle correction.
The forecast stands out because it argues that BTC has not yet completed its broader bull cycle, even with many traders believing that the market topped in October 2025.
Analyst Says Bitcoin Is Still in the Middle of a Larger Cycle In a July 29 newsletter preview shared on X, Sykodelic said the current bear market is a mid-cycle correction and not the end of the cycle, comparing it to stretches from 2011 to 2013 and 2019 to 2021. With that in mind, the analyst predicted the OG cryptocurrency will reach between $380,000 and $450,000 starting in March 2028.
His price target leans on two tools: the 200-week simple moving average multiplied by five and a quantile-95 statistical band already sitting near $330,000.
“Every cycle top has hit the 200w SMA x5. That already sits at $320,000,” he wrote. “As price moves higher that will go up.”
The market watcher pointed out that from BTC’s current price level to $380,000 is only a 5.5x move, way smaller than the asset’s 23x run from $3,000 to $69,000 in 2020, meaning such a jump isn’t just possible but quite probable.
At the time of writing, the asset was changing hands above $64,000 after recovering modestly over the past day. That recent weakness was linked to several factors, including investor caution ahead of the US Federal Reserve’s policy decision, weakness across broader financial markets, and continued outflows from spot Bitcoin exchange-traded funds.
Naysayers Dig In That forecast drew immediate criticism. One of the doubters, X user Bitcoin Daily, who identified themselves as a data scientist, said they ran Sykodelic’s own 890-day spacing rule backward from the October 2025 high and landed in spring 2023, which, by his own framework, would make October 2025 the top, not the midpoint.
You may also like: Saylor: Bitcoin’s Biggest Threat Isn’t Attackers – It’s Those Trying to Rewrite the Rules Fidelity Flags October and Bitcoin Bottom as ‘Yardstick’ Hits Historic Lows Bitcoin’s Four-Week Winning Streak Faces Test as Demand Softens They also noted that Sykodelic’s chart had entirely skipped the 2015 to 2017 cycle. Furthermore, his two reference rallies measured different things, with June 2011 being a full cycle top followed by an 89% drop, while June 2019 was a bear market rally high that fell 55%.
Another thing Bitcoin Daily highlighted was that the last three cycle tops landed 525, 546, and 534 days after their halving. Meanwhile, March 2028 falls 38 days before next year’s halving, meaning Sykodelic’s $380,000 top would come in a period where such an event has never happened before.
“No Bitcoin top has ever arrived before a halving,” the data scientist stated.
Additionally, running the 890-day spacing from four other local highs since June 2024 produced targets spanning May 2027 to October 2028, a 17-month window that, according to Bitcoin Daily, shows Sykodelic’s March 2028 date was chosen and not calculated.
Sykodelic dismissed those objections, questioning the claim that spring 2023 could be considered a mid-cycle high only months after the November 2022 bear market low. He also said that he didn’t include the period between 2013 and 2019 since it never experienced a mid-cycle correction.
SKHX's funding rate on Binance is now 2.1 times that on Hyperliquid.
According to Hyperinsight’s monitoring, the current funding rate for SKHX on Hyperliquid has risen to 0.0373% per hour, paid by long positions to short positions. On Binance, the SKHYNIXUSDT funding rate is approximately 0.3141% every four hours, about 2.1 times that of Hyperliquid over the same period. Calculated at current rates, holding a $10,000 long position would incur a 24-hour funding cost of roughly $89.6 on Hyperliquid and about $188.4 on Binance, a difference of approximately $98.8. Over the past 24 hours, the cumulative settled funding rate for SKHX on Hyperliquid stood at around 0.3925%, while the current hourly rate has risen to roughly 2.3 times the 24-hour average, accelerating cost increases for long positions.
1 seconds ago
Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $32.1 million, while U.S. spot Ethereum ETFs recorded a net outflow of $32.9 million.
According to data from FarsideUK, U.S. Bitcoin spot ETFs saw a total net inflow of $32.1 million yesterday. Among them, BlackRock’s IBIT recorded a net inflow of $89.8 million, Fidelity’s FBTC posted a net outflow of $43.1 million, ARK 21Shares’ ARKB had a net outflow of $14.6 million, while the remaining ETFs saw roughly flat capital flows. U.S. Ethereum spot ETFs, meanwhile, posted a total net outflow of $32.9 million. Breakdown: BlackRock’s ETHA saw a net inflow of $5.2 million, Fidelity’s FETH had a net outflow of $16.1 million, Grayscale’s ETHE recorded a net outflow of $9.7 million, Grayscale’s ETH posted a net outflow of $8.1 million, Bitwise’s ETHW saw a net outflow of $1.4 million, and TETH had a net outflow of $2.8 million; the rest of the ETFs had largely flat capital flows.
1 seconds ago
Leveraged ETFs tracking South Korea’s semiconductor storage sector plunged, with the Southern 2x Long SK Hynix ETF falling over 17%.
The South Korean storage sector continues to face pressure. As of press time, Hong Kong-listed leveraged ETFs are broadly lower. The Nanfang 2x Long Samsung Electronics (07747) declined 7.65% to HK$54.58; the Nanfang 2x Long SK Hynix (07709) dropped 17.13% to HK$27.10.
1 seconds ago
China's A-share ChiNext Index and STAR 50 Index both fell more than 6% before midday trading.
China's ChiNext Index and STAR 50 Index both fell more than 6% before midday trading, the Shenzhen Component Index dropped nearly 3.86%, and the Shanghai Composite Index declined 1.2%.
1 seconds ago
Meme token STONKBROKER on Robinhood Chain briefly hit a $30 million market cap, surging 54.52% in the past 24 hours.
According to GMGN market data, STONKBROKER’s market capitalization briefly touched $30 million, and currently stands at $29.33 million, with a 24-hour gain of 54.52%.
1 seconds ago
South Korea’s KOSPI index plunged nearly 50% in 40 days, with Samsung and SK Hynix — which account for half of the index’s weighting — acting as a major driver of the decline.
South Korea’s stock market has recently faced intense selling pressure, with AI chip trading shifting from a crowded high-level position to concentrated liquidation. The KOSPI index hit an intraday all-time high of 9,385.59 points on June 19, before plummeting in less than a month and a half. Calculated at the current level around 5,689 points, the index has pulled back roughly 39% from its peak; measured against yesterday’s intraday low, the maximum decline is nearly 44%. In terms of market capitalization, the KOSPI’s total market cap has shrunk sharply from its mid-June high, with market estimates putting the evaporated value approaching $2 trillion (roughly 1.55 times Bitcoin’s total market cap). The core pressure driving this round of declines is concentrated in semiconductor heavyweight stocks. The KOSPI is a market-cap weighted index, with Samsung Electronics and SK Hynix exerting enormous influence on the benchmark. Recent calculations show Samsung Electronics accounts for nearly 30% of the KOSPI’s market cap, while SK Hynix makes up over 20%, bringing the two firms’ combined weight to more than 50%. In other words, South Korea’s main board index is highly tied to AI memory, High Bandwidth Memory (HBM), and the semiconductor cycle in this market move. Previously, SK Hynix’s stock surged on the back of HBM demand, memory price hikes, and AI server orders, while Samsung Electronics also benefited from market bets on an AI memory recovery. However, as global tech stock volatility intensified, investors began reassessing risks including returns on AI capital expenditure, competition from Chinese memory players, stretched valuations, and the risk of leveraged funds exiting, triggering a sharp reversal in South Korea’s semiconductor stock chain.
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.
SKHX's funding rate on Binance is now 2.1 times that on Hyperliquid.
According to Hyperinsight’s monitoring, the current funding rate for SKHX on Hyperliquid has risen to 0.0373% per hour, paid by long positions to short positions. On Binance, the SKHYNIXUSDT funding rate is approximately 0.3141% every four hours, about 2.1 times that of Hyperliquid over the same period. Calculated at current rates, holding a $10,000 long position would incur a 24-hour funding cost of roughly $89.6 on Hyperliquid and about $188.4 on Binance, a difference of approximately $98.8. Over the past 24 hours, the cumulative settled funding rate for SKHX on Hyperliquid stood at around 0.3925%, while the current hourly rate has risen to roughly 2.3 times the 24-hour average, accelerating cost increases for long positions.
1 seconds ago
Leveraged ETFs tracking South Korea’s semiconductor storage sector plunged, with the Southern 2x Long SK Hynix ETF falling over 17%.
The South Korean storage sector continues to face pressure. As of press time, Hong Kong-listed leveraged ETFs are broadly lower. The Nanfang 2x Long Samsung Electronics (07747) declined 7.65% to HK$54.58; the Nanfang 2x Long SK Hynix (07709) dropped 17.13% to HK$27.10.
1 seconds ago
China's A-share ChiNext Index and STAR 50 Index both fell more than 6% before midday trading.
China's ChiNext Index and STAR 50 Index both fell more than 6% before midday trading, the Shenzhen Component Index dropped nearly 3.86%, and the Shanghai Composite Index declined 1.2%.
1 seconds ago
Address linked to Bitminter founder transfers 829 BTC, some assets move after lying dormant for 8 years
According to monitoring by Emmett Gallic, addresses linked to Geir Harald Hansen, founder of early Bitcoin mining pool Bitminter, recently transferred 829 BTC, with some of these coins moving on-chain for the first time in 8 years. Publicly available information shows that Bitminter, founded by Hansen, was one of the major early Bitcoin mining pools, at its peak accounting for nearly 10% of the network’s total hash rate and having mined approximately 208,232 BTC in total.
1 seconds ago
Meme token STONKBROKER on Robinhood Chain briefly hit a $30 million market cap, surging 54.52% in the past 24 hours.
According to GMGN market data, STONKBROKER’s market capitalization briefly touched $30 million, and currently stands at $29.33 million, with a 24-hour gain of 54.52%.
1 seconds ago
South Korea’s KOSPI index plunged nearly 50% in 40 days, with Samsung and SK Hynix — which account for half of the index’s weighting — acting as a major driver of the decline.
South Korea’s stock market has recently faced intense selling pressure, with AI chip trading shifting from a crowded high-level position to concentrated liquidation. The KOSPI index hit an intraday all-time high of 9,385.59 points on June 19, before plummeting in less than a month and a half. Calculated at the current level around 5,689 points, the index has pulled back roughly 39% from its peak; measured against yesterday’s intraday low, the maximum decline is nearly 44%. In terms of market capitalization, the KOSPI’s total market cap has shrunk sharply from its mid-June high, with market estimates putting the evaporated value approaching $2 trillion (roughly 1.55 times Bitcoin’s total market cap). The core pressure driving this round of declines is concentrated in semiconductor heavyweight stocks. The KOSPI is a market-cap weighted index, with Samsung Electronics and SK Hynix exerting enormous influence on the benchmark. Recent calculations show Samsung Electronics accounts for nearly 30% of the KOSPI’s market cap, while SK Hynix makes up over 20%, bringing the two firms’ combined weight to more than 50%. In other words, South Korea’s main board index is highly tied to AI memory, High Bandwidth Memory (HBM), and the semiconductor cycle in this market move. Previously, SK Hynix’s stock surged on the back of HBM demand, memory price hikes, and AI server orders, while Samsung Electronics also benefited from market bets on an AI memory recovery. However, as global tech stock volatility intensified, investors began reassessing risks including returns on AI capital expenditure, competition from Chinese memory players, stretched valuations, and the risk of leveraged funds exiting, triggering a sharp reversal in South Korea’s semiconductor stock chain.
Japanese game developer Gumi said it will begin operating a 3 billion yen (about $18.3 million) crypto asset fund on Saturday with SBI Financial Services and backing from Daiwa Securities Group and other investors.
The fund is operated by SBI Crypto Fund, a joint venture owned 51% by SBI Financial Services and 49% by Gumi subsidiary gC Labs.
According to Gumi’s Tuesday announcement, the fund will invest primarily in Bitcoin and major altcoins, using staking, portfolio rebalancing and hedging strategies.
The company said the fund’s mission is to bridge Japan’s corporate sector and the crypto market while building an operational track record ahead of a possible future lifting of Japan’s ban on crypto exchange-traded funds.
The launch builds on Gumi’s expanding crypto business, which includes managing its own crypto holdings centered on XRP, portfolio management services through Hinode Technologies and crypto investment funds.
The company’s latest annual report shows crypto has become a significant part of its balance sheet. As of April 30, 2026, Gumi held 14.13 billion yen in crypto assets, nearly doubling from 7.58 billion yen a year earlier.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
In brief The Federal Reserve held its benchmark rate at 3.5%–3.75% on Wednesday. Bitcoin and Ethereum both dipped slightly shortly after the 2 p.m. ET announcement. No updated rate projections were released—the Fed's next dot plot, which maps where policymakers expect rates to go, is scheduled for September. The Federal Reserve held interest rates steady at 3.5%–3.75% on Wednesday, meeting near-universal market expectations and leaving crypto markets to digest a muted response—even as equities sold off on a combination of hawkish dissent and a geopolitical shock.
The price of Bitcoin dipped around 1% to $63,890 following the Fed's announcement while Ethereum similarly fell by about 1% , now trading for just above $1,900.
It's the fifth consecutive hold since the committee cut rates by 25 basis points in December 2025—the last move Jerome Powell made before Kevin Warsh, Trump's pick for Fed chair, took over. Since then, rates haven't moved. Neither has Warsh's communication style: he's pledged to share less "forward guidance" than his predecessors, meaning markets get fewer signals about what's coming next.
Wednesday's decision came without a Summary of Economic Projections—the quarterly dot plot that shows where each Fed member expects rates to land. That means no fresh forecast to trade on. The next one comes in September. What the committee did note: the economy is "expanding at a solid pace," but inflation remains above its 2% target, due in part to the situation in the Middle East causing energy prices to rise.
That last part matters for crypto. Nearly half of FOMC members signaled at the June meeting they'd support a rate hike before year-end. Oil has been trading above $100 a barrel in recent weeks, keeping price pressure alive. A September hike is no longer off the table—and markets know it.
The Federal Reserve adjusts interest rates when economic data—inflation, employment, growth—points toward overheating or slowdown. When rates go up, borrowing gets more expensive: mortgages, business loans, and credit card debt all cost more, slowing spending and, in theory, cooling prices. When they go down, cheaper credit tends to encourage risk-taking and investment. For assets like crypto, lower rates historically act as a tailwind—money flows toward higher-yielding bets when safe alternatives pay less. The reverse is also true: even the threat of a hike tends to pressure prices lower.
Three regional Fed bank presidents—Beth Hammack of Cleveland, Neel Kashkari of Minneapolis, and Lorie Logan of Dallas—voted against holding and in favor of an immediate 25-basis-point hike, the most hawkish bloc of dissents of Warsh's tenure as chair.
The Iran attack was also weighing on markets: Oil climbed nearly $4 to $83 before the decision was released, adding to inflation pressures that gave the hawks their argument. At least 20 people were killed in joint U.S. and Saudi Arabian retaliatory strikes on Iranian-backed forces in Iraq.
The next FOMC decision is September 16, 2026, when the committee will publish updated economic projections and a new dot plot.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief The Federal Reserve held its benchmark rate at 3.5%–3.75% on Wednesday. Bitcoin and Ethereum both dipped slightly shortly after the 2 p.m. ET announcement. No updated rate projections were released—the Fed's next dot plot, which maps where policymakers expect rates to go, is scheduled for September. The Federal Reserve held interest rates steady at 3.5%–3.75% on Wednesday, meeting near-universal market expectations and leaving crypto markets to digest a muted response—even as equities sold off on a combination of hawkish dissent and a geopolitical shock.
The price of Bitcoin dipped around 1% to $63,890 following the Fed's announcement while Ethereum similarly fell by about 1% , now trading for just above $1,900.
It's the fifth consecutive hold since the committee cut rates by 25 basis points in December 2025—the last move Jerome Powell made before Kevin Warsh, Trump's pick for Fed chair, took over. Since then, rates haven't moved. Neither has Warsh's communication style: he's pledged to share less "forward guidance" than his predecessors, meaning markets get fewer signals about what's coming next.
Wednesday's decision came without a Summary of Economic Projections—the quarterly dot plot that shows where each Fed member expects rates to land. That means no fresh forecast to trade on. The next one comes in September. What the committee did note: the economy is "expanding at a solid pace," but inflation remains above its 2% target, due in part to the situation in the Middle East causing energy prices to rise.
That last part matters for crypto. Nearly half of FOMC members signaled at the June meeting they'd support a rate hike before year-end. Oil has been trading above $100 a barrel in recent weeks, keeping price pressure alive. A September hike is no longer off the table—and markets know it.
The Federal Reserve adjusts interest rates when economic data—inflation, employment, growth—points toward overheating or slowdown. When rates go up, borrowing gets more expensive: mortgages, business loans, and credit card debt all cost more, slowing spending and, in theory, cooling prices. When they go down, cheaper credit tends to encourage risk-taking and investment. For assets like crypto, lower rates historically act as a tailwind—money flows toward higher-yielding bets when safe alternatives pay less. The reverse is also true: even the threat of a hike tends to pressure prices lower.
Three regional Fed bank presidents—Beth Hammack of Cleveland, Neel Kashkari of Minneapolis, and Lorie Logan of Dallas—voted against holding and in favor of an immediate 25-basis-point hike, the most hawkish bloc of dissents of Warsh's tenure as chair.
The Iran attack was also weighing on markets: Oil climbed nearly $4 to $83 before the decision was released, adding to inflation pressures that gave the hawks their argument. At least 20 people were killed in joint U.S. and Saudi Arabian retaliatory strikes on Iranian-backed forces in Iraq.
The next FOMC decision is September 16, 2026, when the committee will publish updated economic projections and a new dot plot.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
The Federal Reserve decided to keep its benchmark interest rate steady at 3.5%–3.75% on Wednesday, as anticipated by most market participants. The policy move, which offered no new signals about the path ahead, prompted a mild decline in cryptocurrency prices, with Bitcoin and Ethereum both losing ground after the announcement.
Shortly after the Federal Open Market Committee’s decision was revealed at 2 p.m. ET, the price of Bitcoin slipped approximately 1% to $63,890. Ethereum also dipped about 1%, trading just above $1,900 by late afternoon. The subdued response in digital assets contrasted with sharper declines in equity markets, which reacted to both policy tensions inside the Fed and mounting geopolitical risks.
This marks the fifth consecutive meeting where the Fed has opted not to adjust rates. The central bank last shifted course in December 2025, trimming rates by 25 basis points. That was also the final policy move under then-Chair Jerome Powell before Kevin Warsh, previously a Federal Reserve Board governor and an advisor to past administrations, assumed leadership of the central bank. Warsh has emphasized a more reserved approach to communication, providing fewer cues to markets than his predecessors.
Trading volumes in both crypto and equities showed signs of uncertainty as investors digested the lack of new forward guidance from the Fed on interest rates, inflation, and growth outlooks.
Economic Projections DelayedPolicymakers did not issue a new Summary of Economic Projections at this meeting. The closely watched “dot plot,” which details each member’s expectations for future interest rates, will next be published in September. The absence of these projections left markets with little to interpret beyond the statement itself.
The committee described the US economy as “expanding at a solid pace” but flagged that inflation remains above the Fed’s 2% target, driven in part by rising energy costs linked to Middle East tensions.
Higher inflation readings, paired with oil trading above $100 per barrel in recent weeks, are adding to price pressures across markets. Nearly half of the committee members have indicated potential support for a rate hike before the end of the year, making a September increase a distinct possibility.
Mini dictionary: FOMC (Federal Open Market Committee): The FOMC sets US monetary policy, including interest rates, and is composed of Federal Reserve Board members and regional bank presidents.
Interest rate decisions directly affect a range of financial assets. When the Fed raises rates, borrowing becomes more expensive, typically cooling spending and slowing inflation. Lower rates have the opposite effect by encouraging risk-taking and investment across markets, including cryptocurrencies. Historically, crypto assets tend to benefit from easier financial conditions, while the threat or reality of higher rates puts pressure on prices.
Geopolitical Tensions and Internal DisagreementThree regional bank presidents—Beth Hammack of Cleveland, Neel Kashkari of Minneapolis, and Lorie Logan of Dallas—called for an immediate 25-basis-point rate hike. This trio of dissents represents the most hawkish opposition seen during Warsh’s time as chair.
Geopolitical events also weighed on sentiment. On the day of the Fed announcement, oil prices spiked by nearly $4, reaching $83 per barrel. The move followed retaliatory US and Saudi Arabian strikes targeting Iranian-backed forces in Iraq, which, according to officials, resulted in at least 20 fatalities. The rise in energy prices added urgency to concerns about persistent inflation.
Looking AheadThe Fed will next meet on September 16, 2026. That meeting will include the release of new economic forecasts and a fresh dot plot, offering markets additional insight into policymakers’ expectations for inflation, growth, and the future path of interest rates.
The committee’s balanced approach left crypto markets searching for direction as the likelihood of another rate change later this year remains in focus.
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 Federal Reserve kept interest rates unchanged at 3.50%-3.75%, but three policymakers voted for a 25-basis-point increase. The central bank said inflation remains above target while economic activity, productivity and investment continue to show strength. Bitcoin fell toward $63,300, while Ethereum dropped below $1,900 as traders reassessed the prospect of higher-for-longer interest rates. Despite continued institutional inflows into spot Bitcoin ETFs, risk appetite weakened following the Fed’s hawkish message. Fed Holds Rates but Signals Inflation Fight Is Not Over The Federal Open Market Committee voted 9-3 to leave the federal funds target range at 3.50%-3.75%, a decision that matched market expectations but carried a firmer policy message than many investors anticipated.
Three officials – Beth Hammack, Neel Kashkari and Lorie Logan – dissented in favor of a 25-basis-point increase, highlighting continued concern that inflation remains above the Fed’s 2% objective.
In its policy statement, the central bank described the U.S. economy as expanding at a solid pace, supported by resilient employment, strong productivity growth and continued business investment. Officials also pointed to energy-related supply shocks as a factor keeping inflation elevated and reiterated their commitment to restoring price stability.
Rather than signaling that the tightening cycle has ended, the statement suggested policymakers remain prepared to act if inflation proves more persistent than expected.
Bitcoin Tests Long-Term Support Bitcoin traded around $63,270, extending losses after the Fed announcement as investors reduced exposure to risk assets.
Bitcoin tests its 200-period moving average on the 4-hour chart as bearish momentum keeps price below all major short-term trend indicators. On the four-hour chart, BTC has fallen below its 20-, 50- and 100-period moving averages, leaving the 200-period moving average near $63,200 as the most significant technical support. A sustained move below that level could expose the recent swing low around $62,800, while any recovery would first need to reclaim resistance between $64,200 and $64,700, where several moving averages are currently converging.
The broader cryptocurrency market also weakened, with total market capitalization falling to approximately $2.17 trillion, while the Fear & Greed Index slipped to 34, indicating that investor sentiment has shifted further into fear.
Ethereum Loses Momentum Below Key Resistance Ethereum also came under pressure, trading near $1,882 after failing to hold above short-term resistance.
The asset remains below its 20-period and 50-period moving averages, while continuing to trade above the 100-period moving average near $1,883, an area that is now acting as immediate support. The 200-period moving average around $1,794 continues to define the broader medium-term trend.
Ethereum trades near its 100-period moving average on the 4-hour chart as RSI weakens and sellers keep the price below key short-term resistance levels. Momentum indicators have also softened. The Relative Strength Index (RSI) has declined to approximately 45, remaining below its signal line and pointing to weakening buying momentum without yet entering oversold territory.
A recovery above $1,900-$1,915 would improve Ethereum’s short-term technical outlook, while a break below $1,880 could increase the likelihood of another test of lower support levels.
Higher-for-Longer Outlook Keeps Crypto Markets Focused on Economic Data Although the Federal Reserve left its benchmark interest rate unchanged, policymakers made clear that inflation remains above target and that additional tightening has not been ruled out. The combination of a split vote, resilient economic growth and persistent price pressures reinforced expectations that interest rates could remain elevated for longer.
For cryptocurrency markets, the focus now shifts to incoming inflation, employment and economic growth data, which will shape expectations ahead of the Fed’s next meeting. Higher borrowing costs typically reduce liquidity available for higher-risk assets, making macroeconomic releases a key driver of sentiment across Bitcoin, Ethereum and the broader digital asset market. Until there is clearer evidence that inflation is moving sustainably toward the Fed’s 2% target, investors are likely to remain sensitive to economic data that could alter the path of monetary policy.
This version is tighter, avoids repeating that the Fed held rates, and naturally links the hawkish message to the next catalyst for crypto markets.
Major cryptocurrencies have not meaningfully reacted to the Federal Reserve’s decision to maintain the Federal Funds rate, trading sideways after the announcement.
Notable Statistics:
Coinglass data shows 96,672 traders were liquidated in the past 24 hours for $316.23 million. SoSoValue data shows net outflows of $49.8 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $14.5 million. In the past 24 hours, top gainers include KAITO, Audiera and Pi. Notable Developments:
Trader Notes:
Crypto chart analyst Ali Martinez highlighted that Bitcoin whales accumulated 29,075 BTC over the past week despite the recent price pullback. This signals that large holders are using the dip to increase their positions rather than sell.
Trader KillaXBT believes a 10% or larger correction in traditional equity markets could mark Bitcoin’s higher-timeframe macro bottom. While a move to $50,000 remains possible, it would depend on Bitcoin weakening alongside stocks.
He adds that bears have roughly six weeks to drive Bitcoin lower. If BTC doesn’t reach the $50,000 level within that window, they believe the opportunity to buy at that price will likely be gone.
Trader Ardi argues that $40,000 is an unrealistic base case target for Bitcoin.
However, BTC would first need to decisively break below the $48,000–$54,000 range, which has served as one of the market’s strongest support zones over the past five years.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Leading cryptocurrencies traded flat, while stocks sold off on Wednesday as investors digested the Federal Reserve’s policy decision and renewed Middle East hostilities.
Crypto Market RangeboundBitcoin traded in a narrow $63,000–$64,000 band on heavy volume, while Ethereum hovered around $1,900 in a similarly tight range. XRP and Dogecoin also moved sideways.
Nearly $400 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in bullish long positions, according to Coinglass data
Bitcoin’s open interest rose 1.52% over the last 24 hours. That said, retail and whale derivatives traders on Binance remained net bullish on the leading asset.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.18 trillion, following a modest dip of 0.28% over the last 24 hours.
Stocks in Red After Fed’s Hawkish TiltStocks saw heavy sell-offs on Wednesday. The Dow Jones Industrial Average plunged 1,153.18 points, or 2.19%, to close at 51,594.14. The S&P 500 declined 1.52% to settle at 7,316.1, while the tech-heavy Nasdaq Composite fell 1.74% to end at 24,442.94.
The Federal Reserve left its benchmark interest rate unchanged, as widely anticipated, though three policymakers dissented, favoring a 25-basis-point hike. Traders now price in a 57% chance of a rate increase during the September meeting.
In other news, the U.S. military resumed its strikes against Iran after President Donald Trump vowed a severe response to an Iranian ballistic missile strike on American forces in the Middle East.
Whales Making Most of BTC’s CorrectionAli Martinez, a widely followed cryptocurrency analyst and trader, noted that whales were buying Bitcoin’s dip.
“While Bitcoin retraces, large holders have accumulated 29,075 BTC over the past week, a sign they’re positioning through the pullback,” the analyst added.
On-chain analytics firm CryptoQuant stated that Ethereum could be poised for an upside move, as the large-transfer spikes observed in recent months have given way to “historically low transfer volumes.”
“Lower supply is a positive signal for Ethereum, but weak demand continues to keep the price range bound. A new wave of institutional buying could be the catalyst for the next upward move,” the firm added.
Photo Courtesy: vinnstock on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
After yet another unsuccessful attempt at recovery, Solana fell back below its 100-day moving average, supporting the idea that sellers are still in charge of the medium-term trend. Bulls have little cause for optimism in the near future because the asset, which is currently trading at $73, is still trapped beneath all significant resistance levels with the exception of the 200-day moving average.
Technically speaking, the recent rejection is significant since SOL was unable to maintain its position above the 100-day moving average at $74.50. For a brief period in the second half of July, that level served as support, but the most recent daily candles indicate that sellers are taking back control. The 200-day moving average is still much higher near $79. 60, while the 50-day moving average is currently falling toward $75.70.
SOL/USDT Chart by TradingViewThis creates a layered resistance zone that will be challenging to break without a more significant market recovery. Despite multiple strong recoveries from June's capitulation low, July's price action has mostly consisted of lower highs.
HOT Stories
Before challenging the longer-term trend, each rally has lost steam, indicating that market participants are still taking advantage of strength to lower exposure rather than open new long positions. Over the past few sessions, volume has progressively decreased, indicating a decline in both buyers' and sellers' conviction.
You Might Also Like
The absence of strong selling pressure reduces the likelihood of another sudden collapse, but it also shows that there is still not enough demand to produce a long-term breakout. Momentum is once again below the neutral threshold as the RSI has fallen to about 48. This shows that buying pressure is waning without driving Solana into an oversold situation, allowing for another leg lower in the event that support falters.
Near $72 is the first level to keep an eye on. The June recovery base could be exposed at $68-$70 if there is a clear break below that support. Bulls must recover the 50-day and 100-day moving averages on the upside before momentum starts to move in their favor.
The overall technical picture would only be significantly improved by a move above the 200-day moving average close to $80. Until then, Solana is still in a corrective phase, where rallies will probably face ongoing selling pressure before turning into a more significant trend reversal.
Zcash's key technicall zoneAfter declining back toward its 200-day moving average, Zcash is testing one of its most crucial technical support zones. Bearish momentum has returned after an impressive recovery throughout July, pushing ZEC below the 50-day and 100-day moving averages and posing a threat to erase a significant portion of the prior gain.
The price has dropped to about $462, and the 200-day moving average, which is close to $411, is still the last significant long-term support below the market. Over the past two weeks, the overall structure has significantly deteriorated, even though ZEC has not yet attained that level. After peaking close to $570, the asset produced a series of lower highs and lower lows, indicating that buyers have gradually lost control.
ZEC/USDT Chart by TradingViewThe 100-day moving average, which was close to $472, has also lost ground, and the 50-day moving average has rolled over and is currently above price at $495. These two indicators now stand for immediate resistance, so any short-term recovery is probably going to encounter selling pressure in the $470-495 range.
Since June and the beginning of July, trading volume has drastically decreased. Consolidation is frequently accompanied by lower participation, but it also represents waning buying interest following the prior rally when paired with weakening price action.
You Might Also Like
Indicators of momentum lend credence to the cautious approach. Without yet entering oversold territory, the RSI has declined toward 43, falling below the neutral level. Before technical exhaustion starts drawing in stronger dip buyers, there is still potential for further declines.
On the downside, focus would shift to the 200-day moving average around $410 if the market failed to stabilize around current levels. That level, which is the chart's strongest long-term technical support, may decide whether Zcash stays in a more general recovery trend or moves into a more protracted correction.
Bitcoin's consolidation must endAfter recovering from the steep sell-off in June, Bitcoin is still consolidating around $64,000, but the overall technical structure remains unclear. The asset is still stuck below the 50-day and 200-day moving averages, preventing a clear return to bullish territory even though it has stabilized above its 100-day moving average.
The market is looking for guidance, as seen by the recent price movement. After the sharp drop from above $80,000, Bitcoin reached a local low of about $59,000 before progressively creating a string of higher lows. The 100-day moving average has flattened and started to function as dynamic support around $63,300, a level that buyers have successfully defended over the previous few sessions, thanks to that recovery.
BTC/USDT Chart by TradingViewOverhead resistance is still quite significant, though. While the 200-day moving average is still significantly above the current price at about $73,200, the 50-day moving average is currently close to $67,500 and is still trending lower. Before the longer-term outlook can improve, bulls must overcome a sizable resistance zone that they have created together.
You Might Also Like
Compared to the panic selling in early June, volume has significantly decreased, indicating that neither buyers nor sellers currently have a clear advantage. Rather, following the previous volatility wave, Bitcoin seems to be entering a phase of accumulation or range trading. The picture painted by momentum indicators is similarly balanced.
Without going into overbought territory, the RSI has rebounded to about 53, rising back above the neutral 50 threshold. This shows that momentum is increasing but not strong enough to support a long-term breakout.
To overcome resistance around $65,500 and ultimately the 50-day moving average, more buying pressure will be required. The crucial support continues to be between $63,000 and $64,000. The $61,000 region would probably be tested first by a clean break below that zone, and June's lows around $59,000 might then be retested.
The Fed again chose immobility on July 29, 2026, by keeping rates frozen between 3.50% and 3.75%. A decision criticized by Peter Schiff, who denounces a deliberate choice in favor of inflation. But what do the markets think?
In brief The Fed keeps its rates between 3.50% and 3.75% (5th consecutive meeting), despite 3 dissenters. Bitcoin and cryptos react positively, but a rise in September remains likely. Peter Schiff criticizes the Fed: a deliberate choice favoring inflation, with consequences for digital assets. Fed Rates Frozen: Between Caution and Criticism On Wednesday, July 29, 2026, the U.S. Federal Reserve (FED) once again kept its key interest rates in the range of 3.50% to 3.75%, marking the fifth consecutive meeting without change. The decision was made by a majority of 9 votes to 3, with three notable dissenters: Loretta Mester (Cleveland), Neel Kashkari (Minneapolis) and Lorie Logan (Dallas), who argued for an immediate 0.25% hike. The Fed justifies this status quo by:
A still-strong U.S. economy, despite persistent inflationary pressures such as inflation remaining above the 2% target; Geopolitical uncertainties, especially in the Middle East. But this caution is far from unanimous. Peter Schiff, an economist known for his hawkish views, did not fail to criticize this approach. According to him, the Fed talks about fighting inflation, but in reality, it favors it. A criticism that resonates especially in a context where gold and cryptos might become safe havens… or collateral damage.
Crypto: Bitcoin Jumps After Rate Hold, Will Altcoins Follow? From the announcement, Bitcoin reacted positively with an immediate slight rise. A trend that could quickly spread to other cryptos like Ethereum and major altcoins. But why is this rate hold seen as a bullish signal for digital assets?
Abundant liquidity: Stable rates signal that the Fed avoids (for now) aggressive monetary tightening, which maintains a favorable environment for risky assets like cryptos; Expectation of future cuts: Some investors are betting on monetary easing in 2026, which could further stimulate the crypto market; Psychological effect: After months of pressure, the status quo is seen as a relief, especially for sector players already hurt by previous rate hikes. However, caution remains necessary. If the Fed changes tone in September with a now likely hike at 75-80% according to futures markets, cryptos could undergo a sharp correction. Not to mention that three dissenters out of nine is a rare sign of division within the Fed, which adds further uncertainty.
The Fed is holding back and leaving its rates unchanged, Bitcoin is booming. But for how long? Between monetary caution and risk appetite, investors are playing a precarious balance.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
A
A
Lien copié
Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
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.
Introduction If you’ve searched for “mt gox” recently, it’s probably because the name showed up in a headline again — more than a decade after the exchange collapsed, a dormant wallet linked to it still makes news whenever it moves Bitcoin. To understand why that keeps happening, it helps to know what Mt. Gox actually was, how it fell apart in 2014, and why a bankruptcy case from over a decade ago is still, in a very real sense, unfinished business for the Bitcoin market.
What Was Mt. Gox? Mt. Gox was a Tokyo-based cryptocurrency exchange that, at its peak, handled more than 70% of all Bitcoin transactions worldwide, according to Investopedia’s sourced history of the exchange. The name is an acronym for “Magic: The Gathering Online Exchange” — the site was originally created by Jed McCaleb as a place for players to trade cards from the collectible card game before it was repurposed into a Bitcoin exchange. Mark Karpeles took over as the largest shareholder and CEO in 2011, and under his management Mt. Gox grew into the dominant Bitcoin exchange of the early 2010s.
What Caused the 2014 Collapse? The mt gox hack that led to the exchange’s downfall unfolded gradually rather than as a single event. In February 2014, Mt. Gox suspended withdrawals after discovering what it described as suspicious activity in its digital wallets. The company ultimately disclosed that it had lost approximately 850,000 Bitcoins — worth hundreds of millions of dollars at the time — through a combination of hacking incidents and technical failures. Roughly 200,000 of those Bitcoins were later recovered, but the bulk of the loss destabilized the exchange and, briefly, the broader Bitcoin market. Mt. Gox filed for bankruptcy in Tokyo District Court shortly afterward.
Mark Karpeles was later found guilty in 2019 of falsifying data to inflate the exchange’s holdings, though he was acquitted of the more serious embezzlement charges against him. Separately, in 2023, the U.S. Department of Justice charged two Russian nationals in connection with laundering funds tied to the hack — a reminder that the “who did it” question took nearly a decade to produce any formal charges at all.
Bankruptcy vs. Rehabilitation: Why Repayment Took So Long Here’s the part that surprises a lot of people: Mt. Gox’s original 2014 bankruptcy filing did not directly produce the repayment process creditors are living through today. Creditors objected to the initial bankruptcy liquidation approach, which pushed the case into a different legal track in Japan called civil rehabilitation. That process, overseen by a court-appointed Rehabilitation Trustee, took years to work out exactly how creditors would be compensated — cash, Bitcoin, Bitcoin Cash, or some combination — and wasn’t finalized until November 2021, per Investopedia’s account of the legal timeline. Actual repayments to creditors didn’t begin until July 2024, a full decade after the exchange collapsed.
This slow-moving legal process is the direct reason Mt. Gox is still relevant today: the Rehabilitation Trustee still controls a large amount of Bitcoin that hasn’t yet been distributed to creditors, and every scheduled mt gox payout step requires moving funds out of trustee-controlled wallets — which is exactly what a mt gox wallet transfer represents when it hits the news.
Why Does a Mt. Gox Wallet Moving Coins Still Make News? Because those wallet movements are, functionally, the trustee actually executing the repayment plan — not random activity. When a dormant Mt. Gox wallet suddenly transfers a large sum, it’s typically the Rehabilitation Trustee moving funds toward distribution to creditors or reorganizing holdings ahead of a repayment deadline, not a hack or a sale decision in the ordinary sense. Given the sums involved — Mt. Gox’s remaining holdings are still counted in the billions of dollars — any of these transfers is large enough to be visible on-chain and, historically, has sometimes coincided with short-term Bitcoin price volatility, which is why outlets cover each movement individually. Recent examples of this exact pattern show up regularly in crypto news coverage, including transfers following months of wallet silence.
It’s worth being clear about what these transfers are not: they are not evidence of a new hack, and a transfer alone doesn’t mean coins are being sold on the open market. Some analysts have drawn comparisons between how markets react to Mt. Gox-related movements and how they reacted to other large defunct-exchange holdings like FTX’s, since both involve large, closely-watched wallets tied to bankruptcy proceedings rather than active trading.
What’s the Current Repayment Status? As of this writing, the Rehabilitation Trustee’s official deadline for the main mt gox repayment categories — Base Repayment, Early Lump-Sum Repayment, and Intermediate Repayment — is October 31, 2026, according to the Trustee’s own announcements posted directly on mtgox.com. That date is not fixed in any permanent sense: it has already been pushed back multiple times, moving from October 2023 to 2024, then 2025, and now 2026, as the trustee works through the logistics of verifying and paying out a large number of creditor claims. If you’re checking on repayment status specifically, treat any date you read — including this one — as subject to further extension, and check the trustee’s official site directly for the current figure.
The trustee has also repeatedly warned creditors about phishing sites and fraudulent emails impersonating either “MTGOX” or the Rehabilitation Trustee, asking for personal information or wallet connections — a real and ongoing risk for anyone still owed a payout from the case.
Frequently Asked Questions What was Mt. Gox? Mt. Gox was a Tokyo-based Bitcoin exchange that, at its peak, handled more than 70% of global Bitcoin trading volume before collapsing in 2014 after losing roughly 850,000 Bitcoins.
When did Mt. Gox collapse, and why? Mt. Gox suspended withdrawals in February 2014 after disclosing the loss of about 850,000 Bitcoins to a combination of hacking and technical failures, then filed for bankruptcy shortly after.
What is the Mt. Gox repayment/payout process? Following creditor objections to the original bankruptcy approach, the case moved into a Japanese civil rehabilitation process finalized in November 2021. Actual repayments to creditors began in July 2024, and the current deadline for the main repayment categories is October 31, 2026 — a date that has already been extended multiple times.
Why does Mt. Gox keep showing up in Bitcoin news? Because the Rehabilitation Trustee still holds a large amount of Bitcoin that hasn't yet been fully distributed to creditors. When trustee-controlled wallets move funds, it's typically part of executing the repayment plan, and the sums involved are large enough to draw market attention.
Is a Mt. Gox wallet movement the same as a hack or a sale? No. A wallet transfer linked to the Rehabilitation Trustee is generally part of the ongoing legal repayment process, not evidence of a new security breach or an active decision to sell on the open market
AUTHOR
Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.
A persistent puzzle of the current cycle has been Bitcoin’s inability to sustain a rally even as central bank balance sheets expand. The usual playbook says loose monetary policy pushes excess cash into scarce assets. Yet the move hasn’t materialized in crypto markets, and a June 2026 interview with Arthur Hayes—archived and recirculating this week—places the blame squarely on artificial intelligence. According to the discussion shared by WuBlockchain, AI capex is now the main competitor for the same marginal dollar that once found its way into digital assets.
Hayes told Bonnie Blockchain that investors are chasing AI tech equities and the supply chains behind them, leaving Bitcoin and the broader crypto complex starved of speculative inflows. The capital that would normally rotate into crypto during a money‑printing cycle is instead flowing toward semiconductor manufacturers, cloud infrastructure, and AI startups. Newly wealthy individuals from the AI boom are plowing their gains into hard assets like real estate or diversifying into Nasdaq‑listed stocks, not into Bitcoin. In a market where narrative and liquidity direction matter, the AI trade has simply become the higher‑conviction bet.
The Liquidity Trap of a 24/7 Market The most uncomfortable part of Hayes’s view is what happens if AI equities crack. Because crypto markets never close and offer instant settlement, they become the go‑to source of emergency cash during a stock sell‑off. Traders facing margin calls would be forced to dump liquid digital assets first—not because the fundamentals have changed, but because the infrastructure allows it. Hayes expects Bitcoin and other tokens to tumble in tandem with a deflating AI bubble before any eventual sorting‑out.
That forced‑selling dynamic is not theoretical. It mirrors past episodes where cross‑asset liquidation cascades swept through crypto in moments of broader market stress, often compressing prices far beyond what on‑chain data would suggest is fair value. A hypothetical AI crash would test precisely how far the entanglement between speculative tech and crypto has gone.
A Shifting Battleground for Speculative Capital The competition between crypto and AI for marginal capital fits a larger pattern. In previous cycles, crypto competed with meme stocks, commodities, or housing for the attention of retail and institutional traders. Now the rival is a deeply funded technology wave that promises efficiency gains across entire industries. While some crypto projects are leaning into the AI narrative—$X@AI BRC-20 NFTs recently topped weekly sales volumes, and storage networks like Filecoin are positioning for AI‑driven data demand—these are niche pockets of convergence rather than a broad‑based rotation.
Projects that combine decentralized infrastructure with AI compute, such as UXLINK’s partnership with Origins Network for scalable Web3 applications, are building a path for crypto to absorb some of that AI attention. Yet the scale of capital flowing into traditional AI stocks and private AI ventures still dwarfs the on‑chain equivalents, leaving Bitcoin in a tough spot until either the AI trade cools or crypto‑native earning products become compelling enough to reclaim the marginal buyer.
What Remains Unsettled Hayes’s thesis leaves several open questions. If the AI cycle matures and growth rates compress, will the marginal dollar rotate back into crypto, or will it find another home? The answer depends partly on whether the crypto market can maintain a credible yield‑generating ecosystem—something that stablecoin lending, decentralized finance protocols, and tokenized real‑world assets are attempting to build. There is also the possibility that crypto and AI do not remain substitutes for speculative capital forever; they could become complementary, with stablecoins and blockchain rails settling AI‑related transactions at scale.
For now, the signal from the Hayes interview is straightforward: loose money alone is not enough when hot capital is chasing a different paradigm. As long as AI capex commands the marginal liquidity, Bitcoin’s usual monetary‑debasement narrative may stay on mute, and any tech sell‑off would likely drag the crypto market down before it has a chance to decouple.
AUTHOR
Brenda is a writer with three years of experience specializing in cryptocurrency, artificial intelligence and emerging technologies. She graduated from the University of Mombasa with a degree in Psychology. She has worked at Cryptopolitan and Blockchain Reporter.
Charles Schwab Head of Crypto Research Jim Feroli on Tuesday said that Bitcoin (CRYPTO: BTC) typically faces seasonal weakness during the summer but could benefit from a year-end rally as risk appetite improves.
Fair BTC Valuation At $95,000Speaking with CoinDesk, Feroli estimated Bitcoin’s fair value at around $95,000, based on the production costs of the least-efficient miners, while efficient miners currently produce Bitcoin at a rough price of $60,000.
He emphasized that Bitcoin’s supply-constrained nature means relatively modest inflows could drive significant price gains, particularly if regulatory clarity improves and institutional adoption accelerates.
Feroli predicts that prices could get there maybe in six months or don’t know when as it does not take a lot of flow to "move the needle on Bitcoin."
While he sees the asset scaled very quickly to $83,000 from $60,000 earlier this year, CLARITY Act plays a key role to “return to this institutional adoption narrative and maybe some sustained momentum there.”
Fed, CLARITY Act Remain CatalystsFeroli said markets remain focused on this week’s Federal Reserve meeting, with investors assessing the risk of additional monetary tightening.
While a rate hike would likely pressure crypto prices in the short term, he expects policymakers to maintain a hawkish tone regardless of the decision.
Beyond monetary policy, Feroli identified the CLARITY Act as crypto’s biggest fundamental catalyst.
Contrary to expectations that legislation may already be reflected in prices, Feroli said Schwab’s research suggests the bill remains largely unpriced.
The firm’s analysis found changes in the probability of the legislation passing explain only about 4% of Bitcoin’s daily price movements.
If Congress approves the bill before the August recess, Feroli believes it could revive the institutional adoption narrative that helped lift Bitcoin roughly 25% following several high-profile ETF launches earlier this year.
“If it were to pass in the next couple weeks, we think that is really serving as a legislative call option,” he said.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Blockchain data makes Bitcoin's ownership visible in a way no other asset class allows. Here is exactly who controls the most, and what those positions are worth today.
Bitcoin is trading at approximately $64,000 today, July 29, 2026, down 49% from its October 2025 all-time high of $126,000 but up 88% from its June 2022 low of $17,500.
Despite the bear market, the biggest holders have not sold. Here is who controls the most Bitcoin on earth right now, based on verified Arkham Intelligence on-chain data.
Satoshi still leads, and has never soldThe pseudonymous creator of Bitcoin sits at the top of every list and has never moved from it.
Satoshi Nakamoto holds approximately 1.096 million BTC worth roughly $70.1 billion today, mined across approximately 22,000 blocks in the network's earliest days using a pattern analysts call the Patoshi Pattern.
At Bitcoin's all-time high of $126,000, that position was worth $138 billion. Not a single coin has moved in over a decade.
The exchange and ETF giantsCoinbase holds approximately 970,000 BTC, around 5% of all Bitcoin ever mined, held on behalf of institutional clients, ETF issuers, and retail users. The company reports Q2 earnings on July 29.
Binance follows with roughly 660,000 BTC sitting in cold wallet custody on behalf of exchange users.
Scroll to Continue
Recommended Articles
BlackRock's IBIT ETF has accumulated approximately 764,000 BTC worth $48.9 billion since launching in January 2024, more Bitcoin than the U.S. Government holds. Fidelity's FBTC fund holds approximately 471,000 BTC in self-custodied vaults using its own Fidelity Digital Assets infrastructure.
Grayscale's GBTC, despite significant outflows since converting to a spot ETF in 2024, still holds roughly 167,000 BTC.
The corporate and government holdersStrategy holds 843,775 BTC acquired at an average price of $75,476 per coin, currently sitting on an unrealized loss of approximately $8.32 billion. It reports Q2 earnings Thursday.
The U.S. Government holds 328,000 BTC worth approximately $21 billion, acquired entirely through law enforcement seizures including the Silk Road shutdown, the Bitfinex hack recovery, and the 127,271 BTC Prince Group confiscation in October 2025.
A March 2025 executive order established a Strategic Bitcoin Reserve and halted further government auctions. Block.One holds approximately 164,000 BTC per Bitcoin Treasuries data, though Arkham has not fully verified those holdings on-chain.
Tether rounds out the top ten with roughly 97,000 BTC, built through a policy of allocating 15% of quarterly profits to Bitcoin purchases since 2023.
Where it goes from hereThe top ten holders control approximately 5.5 million BTC, roughly 26% of the total 21 million coin supply that will ever exist. Analyst Ali Martinez has identified $70,920 as the immediate resistance level. Standard Chartered maintains a $100,000 year-end 2026 target.
Cathie Wood holds a $1.5 million base case for 2030. The Fed rate decision on July 29 is the single most immediate price catalyst.
