Track market-moving stories before they get noisy

Core Scientific has signed a major deal with chipmaker AMD to lease its AI infrastructure starting next year as the company pivots from Bitcoin mining. The CORZ stock climbed on the back of this deal, which could also see AMD purchase the miner’s common stock.

Core Scientific Signs Deal To Lease AI Infrastructure To AMD In a press release, the firm and AMD announced a deal that would see the latter secure up to 2.5 gigawatts of data center capacity starting in 2027 to support end customer deployments of AMD AI solutions. As part of the agreement, both companies revealed that they will collaborate on physical infrastructure design and the deployment of AMD Instinct™ GPUs, EPYC™ CPUs, and ROCm™ software.

This agreement comes as Core Scientific pivots from Bitcoin mining to building AI infrastructure, including data centers. As CoinGape reported, Core Scientific sold 1,900 BTC earlier this year to provide liquidity as it makes this transition.

The company still holds 547 BTC, according to BitcoinTreasuries data. The miner noted that it still derives revenue from earning crypto from the company’s own account and from crypto mining hosting services. However, it is in the process of repurposing its remaining facilities to support its high-density colocation services.

Core Scientific is just one of many Bitcoin miners pivoting to provide AI infrastructure. Bitcoin Miner MARA recently expanded its AI infrastructure with a Texas site acquisition. Meanwhile, TeraWulf signed a 20-year data center deal with Anthropic earlier this month.

CORZ Stock Drops At Market Open CORZ stock has dropped over 3% at the market open today amid the announcement of Core Scientific’s deal with AMD. The stock surged over 5% in premarket trading but has now slipped as the stock market sell-off deepens.

Core Scientific stock is also down over 12% over the past week. However, the stock is up over 40% year-to-date (YTD) amid the pivot from Bitcoin mining to providing AI infrastructure as AI demand increases.

Meanwhile, Core Scientific revealed that AMD will also receive market-priced warrants to purchase its common stock, subject to certain commercial conditions as part of the agreement.

For more on Bitcoin mining, please check out our page on Top 6 Best Crypto Mining Hosting Services In 2026

Uniswap (UNI) edges higher near an immediate resistance at $3.88 on Tuesday. The native decentralized exchange (DEX) token is defying a broader correction in the cryptocurrency market, even as Bitcoin (BTC) falls toward $63,000 from its July highs around $67,000.

Uniswap rises as retail buying absorbs selling pressureRetail appetite is gaining momentum across Uniswap derivatives, as evidenced by perpetual futures Open Interest (OI) rising to 65 million UNI on Tuesday, from approximately 63 million the day before. The rebound traces back to roughly 60 million in OI recorded on July 19, underscoring growing risk-on sentiment despite headwinds in the broader crypto market.

Uniswap Futures OI | Source: CoinGlassLooking back, Uniswap’s neutral-to-bullish outlook can also be attributed to strategic ecosystem growth, such as the network’s partnership with Securitize on permissioned pools. The new standard, announced last Tuesday, gives regulated assets access to automated market making (AMM) liquidity while preserving issuer-defined controls.

The protocol’s contribution to the real-world assets (RWAs) sector has also sustained impressive growth, with processed stock token volume on Robinhood Chain rising to $250 million.

Stock Token Volume on Uniswap | Source: RobinhoodPrice analysis: Uniswap upholds positive momentumUniswap trades at $3.86, maintaining a constructive near-term bullish bias as it holds above the SuperTrend line at $3.23 and the medium-term Exponential Moving Averages (EMAs), with the 50-day EMA at $3.40 and the 100-day EMA at $3.39. The spot price has also reclaimed the descending resistance trendline, now offering structural support near $3.52, while momentum remains positive but not overextended.

At the same time, the Relative Strength Index (RSI) around 62 on the daily chart hints at sustained buying interest despite a flattening Moving Average Convergence Divergence (MACD) histogram just below the zero mark.

UNI/USDT daily chartImmediate resistance lies at the 200-day EMA at around $3.88. A sustained break above this barrier would strengthen the bullish case for further recovery. On the downside, initial support is aligned with the descending trendline area at $3.52, followed by the clustered 50-day and 100-day EMAs near $3.40. The SuperTrend base at $3.23 marks a deeper but still constructive demand zone as long as daily closes remain above it.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Open Interest, funding rate FAQs Higher Open Interest is associated with higher liquidity and new capital inflow to the market. This is considered the equivalent of increase in efficiency and the ongoing trend continues. When Open Interest decreases, it is considered a sign of liquidation in the market, investors are leaving and the overall demand for an asset is on a decline, fueling a bearish sentiment among investors.

Funding fees bridge the difference between spot prices and prices of futures contracts of an asset by increasing liquidation risks faced by traders. A consistently high and positive funding rate implies there is a bullish sentiment among market participants and there is an expectation of a price hike. A consistently negative funding rate for an asset implies a bearish sentiment, indicating that traders expect the cryptocurrency’s price to fall and a bearish trend reversal is likely to occur.

In this patch of your weekly Dispatch:Bitcoin holders persistETH looks for a bottomMore Big tech earningsMarket cast

BTC: Consolidation holds at key supportThe uncertainty hanging over the Fed's decision this week is showing up directly in Bitcoin's charts, which reflect the same wait-and-see mood gripping broader markets. Bitcoin's weekly chart continues to hover around the 200-period SMA, which is acting as strong dynamic support. The RSI, a momentum oscillator, remains neutral without offering a clear signal, while the Stochastic, another momentum oscillator, is nearing oversold territory. The MACD, a trend and momentum indicator, keeps its histogram above the zero line, a mildly constructive sign even as the broader picture stays mixed.

The daily chart shows a similar tug-of-war. Price has bounced off the 50-period SMA, which continues to provide downside support. The RSI sits in neutral territory, while the Stochastic's signal lines are turning downward. The MACD histogram sits slightly below the zero line, and a low ADX reading — a gauge of trend strength — points to the absence of a strong directional trend in either direction.

Key levels to watch: On the downside, support sits around $62,000, with a deeper zone near $58,000; the weekly 200-period SMA and daily 50-period SMA offer additional dynamic support. To the upside, resistance comes in around $67,000, followed by $70,000.

The big idea

Will the Fed serve as a catalyst for BitcoinBitcoin spent last week taking what the backdrop gave it. Tech stocks had a rough stretch, with AI-spending worries and disappointing earnings pulling the Nasdaq lower, but Bitcoin wasn't heavily impacted by the move. A quieter geopolitical mood in the Middle East also eased some inflation anxiety, and together the two gave Bitcoin room to push back above $65,000, holding on to most of the ground it clawed back after bottoming near $57,717 in early July. The question now is whether that ground holds.

The signals: A few indicators are lining up in a way that doesn't happen often. Bitcoin's price against the Nasdaq 100, on a smoothed weekly RSI, recently hit its most stretched level in the pair's 16-year history — beyond the prior extremes of 2015, 2019, and 2022, each of which was followed by meaningful Bitcoin outperformance over the next one to three years. Its realized price, the average onchain cost basis of the circulating supply, sits near $53,000, a level that past bear-market lows have typically touched. And going by the timing of prior cycles, where lows have tended to form around week 60 after the peak, this cycle — now at week 40 — would put a bottom by late November if that pattern holds.

Onchain flows have shifted too. Illiquid supply, coins moving into wallets that historically don't sell, was steadily declining through mid-July but has reversed sharply over the past week, turning into consistent net accumulation.

ETFs have followed a similar arc: after months of outflows, spot Bitcoin ETFs have logged three straight weeks of net inflows ($197 million, $75 million, then $33 million), even as the pace has cooled.

Options positioning tells a similar story. On Deribit, the $70,000 and $72,000 strikes have drawn nearly $5 billion in combined open interest, with calls outnumbering puts more than 10-to-1 at both levels — much of it built on Clarity Act optimism that has since cooled and started to unwind. Futures open interest, meanwhile, has held steady in the $30–33 billion range, without the leverage buildup that typically precedes a flush — generally a healthier base for a sustained move.

The catalyst: The bigger driver has been macro rather than Bitcoin-specific, and this week brings the test. The Fed meets July 28–29, with the decision due Wednesday. The committee looks genuinely split — some officials lean toward higher rates given persistent inflation, others expect price pressures to ease on their own — and Chair Warsh has avoided signaling his stance. Even so, markets are pricing better than 60% odds the Fed holds steady, a fifth straight meeting without a change.

There's also a case building that Bitcoin no longer needs to follow the traditional four-year cycle, which points to a low in September or October with average drawdowns near 80%. A growing view instead treats Bitcoin as more macro-sensitive, with its bear markets tracking rate expectations rather than a fixed calendar — meaning if the Fed holds and growth holds up, the low may already be behind us. The Clarity Act remains a separate factor, with its odds of clearing the Senate before August recess falling from about 51% to 38% this week.

Where this leaves things: A rare oversold reading, a nearby cost-basis level, a cycle-timing pattern consistent with this window, reversing illiquid supply, improving ETF flows, bullish options positioning, and a steady futures market all point in the same direction. Whether they hold may come down to what the Fed says on Wednesday.

Ethereum

Ethereum's quiet case for a bottomEther has quietly been building its own recovery case alongside Bitcoin's. It's trading about 17% below its ~$2,300 fair-value cost basis, a level that's historically marked long-term lows, and it's getting cheaper versus Bitcoin too — the ETH/BTC valuation ratio has fallen from near 0.95 last August to about 0.65. Of the five onchain signals analysts track for a cycle bottom, only two have been confirmed so far.

Supply is tightening: exchange withdrawals recently hit a three-year high, a record 34% of ETH is now staked, and top corporate holder Bitmine added 325,000 ETH over the past month. Capital inflows have also picked up, and ETH ETFs have out-earned bitcoin ETFs on inflows for three straight weeks, leading for July overall.

Bottom line: at the moment, ETH appears potentially cheap with tightening supply and fresh capital rotating in — but the bottom isn't confirmed yet.

Macroeconomic roundup

A packed calendar for monetary policiesIt's a packed calendar this week, with several data points that could shape sentiment across digital asset markets. Adding to that, three major central banks hand down decisions within days of each other. It’s a packed week:

Fed Interest Rate Decision (Jul 29): A hold remains the favored outcome, though hike odds have swung between roughly 12% and 38% this month as oil rallied.

US GDP & Core PCE (Jul 30): The week's key growth and inflation prints, released together — arguably the most important data point after the Fed decision itself.

Eurozone GDP, QoQ (Jul 30): This week's main Eurozone growth signal.

BoE Interest Rate Decision (Jul 30): Also expected to hold, facing the same inflation-versus-growth tension weighing on other central banks.

BoJ Interest Rate Decision (Jul 31): A hold is expected, but the real signal is in the outlook report and any hint of a faster hiking path.

Eurozone CPI, YoY (Jul 31): This week's main Eurozone inflation signal.

TradFi trends

Big Tech's make-or-break weekCrypto's fortunes this month have moved in tandem with the broader risk-on mood in equities, and this week puts that mood squarely in the hands of Big Tech. Microsoft, Meta, Amazon, and Apple all report earnings, and investors have grown increasingly impatient for proof that massive AI infrastructure spending is paying off — a question that matters well beyond tech, given how much risk appetite across markets, crypto included, has leaned on the AI trade holding up.

Tesla and Alphabet stumbled on exactly this point last week. Tesla missed estimates and flagged higher capex, while Alphabet beat but raised its spending guidance anyway, sending shares down 7%. The Roundhill Magnificent Seven ETF is now down 3% on the year. If the remaining hyperscalers can't convince the market that AI spending still pays off, the pressure could spread well beyond tech, potentially pulling risk sentiment — and crypto along with it — down as well.

The week's most interesting data story

Holders never stopped buyingBitcoin's holder net position change — whether long-term holders are net buying or selling — turned sharply negative during last year's top, with holders offloading up to 180,000 BTC a day as price collapsed from six figures. Since late December, that's reversed: through the entire drop from roughly $90,000 to $57,000, and right on through this summer's choppy, range-bound price action, holders have kept net accumulating almost daily, at times adding over 40,000 BTC. That's the kind of divergence — price stuck in place while holders keep buying underneath it — that has, in past cycles, tended to resolve with price eventually catching up to what holders were already doing.

The numbers

The week’s most interesting numbers3 — Weeks of spot Bitcoin ETFs' inflows for the longest streak since early May.

65.88% to 34.12% — Calls vs. puts open in the Bitcoin options market, favoring higher prices.

41.04 million ETH — A record 34% of ETH's supply now locked in staking.

48,000 BTC — Accumulated by large wallets over the past month, even as price sits 17% below recent highs.

Over 30% — Share of on-chain crypto transactions now made up by stablecoins, whose market cap has topped $250 billion.

Hot topic

What the community is discussingIs the biggest whale back in action?

What are U.S. investors up to?

Will the earliest cuts come in 2027?

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

A small Australian brewery has figured out how to make Bitcoin mining useful in a way that even crypto skeptics can appreciate: by turning it into beer.

Hawkesbury Brewing Co, based in Lisarow on New South Wales’ Central Coast, has integrated 16 Bitcoin miners directly into its brewing operations. The miners are submerged in non-conductive liquid that reaches roughly 90°C, and the captured waste heat fulfills all of the brewery’s hot water needs, from beer production to bottle cleaning. The system supports output of 100,000 litres of beer each month.

How it actually works The 16 mining rigs sit in tanks of non-conductive liquid, a method known as immersion cooling. As the miners run, they heat the liquid to around 90°C. A heat exchanger then transfers that thermal energy to the brewery’s incoming town water supply, preheating it for use in brewing and sanitation processes.

The entire system runs exclusively on excess solar energy generated by rooftop panels at the facility. It only operates when solar generation exceeds on-site demand, which means the mining rigs aren’t drawing from the grid. The brewery claims this gives the operation a net-zero carbon footprint.

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Developed in partnership with Synergy Infrastructure, the project is reportedly the first of its kind anywhere in the global brewing industry.

The economics of mining for beer money The Bitcoin mining operation generates approximately $2,000 in monthly rewards, nearly offsetting the brewery’s electricity costs.

Like many Australian businesses with rooftop solar, Hawkesbury was generating more energy than it could use during peak sunlight hours. Exporting that surplus back to the grid offered poor returns. Battery storage was another option, but storing large batteries near an alcohol production facility raised safety concerns.

So the brewery found a third path: use the excess electricity to mine Bitcoin, capture the waste heat, and redirect it into the production process. The solar energy that would have been sold back to the grid for pennies now generates crypto rewards and eliminates the need for gas or electric water heating.

Professor Sean Foley from Macquarie University praised the approach for its potential to recover heat from Bitcoin mining operations, suggesting it could serve as a model for other industries grappling with similar energy challenges.

The initiative gained significant media attention after an ABC News report on July 24-25, 2026, which brought the brewery’s unconventional energy strategy to a national audience.

What this means for investors The risk is that Bitcoin’s price volatility could make the $2,000 monthly reward worth significantly more or significantly less at any given time. A sustained price decline could erode the economic case, though the thermal benefits would remain regardless of what Bitcoin trades at. For businesses considering similar setups, the crypto revenue is best viewed as a bonus on top of the energy savings, not the primary justification.

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

Bitcoin (BTC) is falling toward the immediate $63,000 support at the time of writing on Tuesday, weighed down by continued risk-off sentiment. Altcoins, including Ethereum (ETH) and Ripple (XRP), remain under pressure, trading below $1,900 and $1.10, respectively.

Crypto sentiment stays fragile ahead of Fed rate decisionCrypto market sentiment remains largely unresponsive and in the Fear territory, as reflected in the Fear & Greed Index. The index, which broadly tracks investor behavior, holds at 29 on Monday, down only marginally from 30 the day before. This prevailing market condition indicates that risk-off sentiment remains weak, aligning with the ongoing correction.

Crypto Fear & Greed Index | Source: AlternativeMeanwhile, investors are pricing in a 64% probability that the Federal Reserve (Fed) will hold interest rates steady in the 3.50%- 3.75% range on Wednesday.

At the same time, the market is pricing in a 36% chance of a hike to the 3.75%-4.00% range. Although recent data, including the Consumer Price Index (CPI), signaled that inflation eased in the United States (US) in June, fears of a regional escalation of the war in the Middle East could push the Fed toward a stricter monetary policy.

Loretta Mester, former Cleveland Fed President, said in an interview that the central bank officials “are going to have to ask themselves whether policy is at the right level to get inflation moving back down to 2%. Chair Warsh has been pretty vocal on saying that they’re not going to tolerate inflation.”

FedWatch tool | Source: CME GroupBitcoin spot Exchange-Traded Funds (ETFs) extended the bearish streak for a third consecutive day, with outflows approaching $12 million on Monday. According to SoSoValue data, institutional withdrawals totaled $225 million on Thursday and $240 million on Friday, undermining risk exposure.

Bitcoin ETF flows | Source: SoSoValueEthereum spot ETFs outpaced Bitcoin, as inflows returned, reaching roughly $9 million on Monday. This followed Friday’s $71 million in outflows, which snipped five days of inflows.

Ethereum ETF flows | Source: SoSoValueXRP spot ETFs posted very mild inflows totaling $592,000 on Monday, following three straight days of muted activity. Cumulative inflows edge higher to $1.50 billion, with net assets under management holding steady at $1 billion, according to SoSoValue.

XRP ETF flows | Source: SoSoValueTechnical outlook: Bitcoin bears tighten grip amid persistent lossesBitcoin trades around $63,460, keeping a bearish near-term bias as it holds below a dense pack of moving averages. The 50-day Exponential Moving Average (EMA) at $64,971 is the first cap on the upside, with the Parabolic SAR at $66,956 and the 100-day EMA at $67,651 reinforcing the notion of overhead supply.

Momentum is soft, with the Relative Strength Index (RSI) hovering near a neutral 46 on the daily chart and the Moving Average Convergence Divergence (MACD) histogram in negative territory, which together suggest a lack of buying conviction after the recent pullback.

BTC/USDT daily chartOn the topside, immediate resistance is defined by the 50-day EMA at $64,971, followed by the Parabolic SAR level at $66,956 and the 100-day EMA at $67,651. A sustained break above these would be needed to challenge the longer-term bearish structure, where the 200-day EMA at $73,237 marks a more significant barrier. With no nearby technical supports on the daily chart, key psychological demand levels at $63,000 and $60,000 will come in handy and encourage bulls to reengage.

Altcoins technical outlook: Ethereum and XRP face renewed headwindsEthereum trades near $1,880, holding a constructive near-term bias as price sits above the short-term 50-day EMA at $1,841 and the latest Parabolic SAR signal at $1,856. This positioning suggests underlying dip-buying interest, even as broader trend gauges remain overhead.

Momentum is mixed, with the RSI near 54 indicating neutral-to-firm traction on the daily chart, while the MACD histogram has slipped marginally negative, hinting that bulls may face a slower grind higher rather than a clean breakout.

ETH/USDT daily chartInitial resistance lies at the 100-day EMA around $1,933, with a stronger barrier emerging at the 200-day EMA near $2,155, where medium-term sellers are likely to defend the broader downtrend. On the downside, immediate support is implied by the Parabolic SAR at $1,856, followed by the 50-day EMA at $1,841. A daily close below this latter level would weaken the current bullish bias and open the door to a deeper corrective phase.

XRP, on the other hand, trades at $1.05 at the time of writing. The pair is pressed into the lower Bollinger Band near $1.05 acting as a pivot while price remains decisively below the indicator's middle layer at $1.10 and all three major moving averages, the 50-day, 100-day and the 200-day EMAs.

Momentum adds a soft negative tone as the RSI at 39 drifts below the midline on the daily chart and the MACD histogram holds slightly in negative territory, suggesting downside pressure is still dominant despite XRP's proximity to the Bollinger Band support.

XRP/USDT daily chartImmediate focus stays on the lower Bollinger Band layer at $1.05, where a sustained break would likely open the door to further selling toward key psychological levels such as $1.00. On the topside, initial resistance is lies at the Bollinger Band middle layer around $1.10, followed by the 50-day EMA at $1.13 and the upper Bollinger Band layer near $1.14. Above these barriers, the 100-day EMA at $1.22 and the distant 200-day EMA at $1.42 mark broader recovery hurdles that the pair would need to reclaim to neutralize the present bearish backdrop.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.

The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.

Singapore’s financial regulator wants banks to report their “cryptos,” but the instruction has nothing to do with disclosing Bitcoin, Ethereum or other digital-asset holdings.

TL;DR Banks must catalogue their cryptographic assets. “Cryptos” does not mean cryptocurrencies. Phased requirements arrive later in 2026. Vulnerable systems will migrate by priority. Crypto networks face similar security risks. In this case, “cryptos” refers to cryptographic assets: the encryption keys, digital certificates, signatures and algorithms protecting customer information, payment instructions and communication between financial institutions.

The Monetary Authority of Singapore will issue formal supervisory expectations later in 2026, according to Channel News Asia. Banks will receive progressive deadlines for identifying their cryptography, ranking vulnerable systems and preparing replacements that can resist future quantum attacks.

What Banks Will Need to Report MAS is not asking banks to publish their cryptocurrency portfolios. It wants each institution to maintain an internal inventory showing where cryptography is used across its operations.

That could include mobile banking systems, payment authorization, customer databases, internal communications, cloud platforms and services supplied by external technology companies.

Banks will also need to identify which systems rely on algorithms that powerful quantum computers may eventually be able to break. The most sensitive infrastructure can then be moved to the front of the migration queue.

MAS first outlined this approach in its advisory on quantum-related cybersecurity risks, which encouraged financial institutions to map their cryptographic solutions, assess vulnerable assets and review their ability to adopt new security standards.

The new supervisory expectations will turn that preparation into a more structured process with defined timelines.

The Most Exposed Systems Will Move First Not every system carries the same risk. Infrastructure used to authorize payments or protect long-lived customer records will require more urgent attention than information that loses its value quickly.

Banks must also account for encryption built into software, hardware and services operated by outside vendors. A financial institution may understand its own systems but still depend on a technology provider that cannot support newer algorithms.

MAS expects institutions to develop the expertise and governance needed to manage those dependencies. That means assigning responsibility, coordinating with suppliers and planning for older infrastructure that cannot be upgraded easily.

The regulator is aiming for Singapore’s financial institutions to become quantum-resilient before the end of the decade. MAS managing director Chia Der Jiun said experts estimate that quantum computers capable of breaking current encryption could emerge within five to 10 years, while a safe migration may itself take years.

Why Quantum Computers Threaten Encryption Modern banking security depends on mathematical problems that conventional computers cannot solve within a practical amount of time. These calculations protect encryption keys and digital signatures from unauthorized access.

A sufficiently powerful quantum computer could handle some of those problems far more efficiently, weakening widely used forms of public-key cryptography. Financial transactions, confidential communications and stored customer data could then become exposed.

That capability does not exist at the scale needed today. The concern is that banks cannot wait for the threat to become practical before finding and replacing cryptography spread across thousands of systems.

There is also a risk that attackers collect encrypted information now and attempt to unlock it years later. Data that must remain confidential for a long time may therefore require earlier protection.

Singapore’s Quantum-Safe Migration Handbook describes the transition as a multi-year process involving system discovery, risk assessment, testing and gradual deployment.

There Will Be No Single Quantum Upgrade Encryption is built into almost every layer of banking infrastructure, so replacing it through one large update would create its own operational and security risks.

The transition will instead happen in phases. Banks must test how post-quantum algorithms affect processing speed, system compatibility and connections with other financial institutions before using them in live services.

They will also need crypto-agility—the ability to replace algorithms and keys without rebuilding the systems around them. Institutions with rigid or outdated infrastructure may need to modernize those systems before adding quantum-resistant protection.

The first post-quantum standards finalized by NIST provide algorithms for encryption and digital signatures, but adopting them across complex financial networks will take considerably longer than publishing the standards themselves.

Why Crypto Networks Face the Same Problem The MAS requirements apply to financial institutions, but the underlying threat also matters to cryptocurrency networks. Blockchains depend on cryptographic signatures to prove ownership, authorize transactions and prevent funds from being moved without the correct private key.

Parts of the crypto sector are already exploring possible responses. Bitcoin developers have discussed a multi-year migration away from quantum-vulnerable wallet signatures, while a BNB Chain post-quantum test reportedly reduced cross-region throughput by about 40%, showing that stronger protection can create significant performance costs.

Banks and blockchains therefore face a similar trade-off. A new algorithm may offer stronger security, but it must still process transactions efficiently and work with existing wallets, applications and infrastructure.

Singapore Has Already Tested the Technology Singapore’s preparation has moved beyond policy guidance. MAS and the Banque de France completed a cross-border post-quantum cryptography experiment using quantum-resistant algorithms to sign and encrypt communications over conventional internet infrastructure.

The test showed that post-quantum protection can work across existing international communication channels. Wider deployment will still require banks to update certificates, key-exchange systems and technical standards shared with other institutions.

MAS is expected to publish its detailed supervisory expectations later in 2026. The progressive timelines will cover cryptographic inventories, migration priorities and the governance needed to oversee the transition.

For crypto readers, the headline may initially sound like Singapore is asking banks to disclose their digital-asset holdings. The real policy reaches further: the regulator is preparing the security behind digital finance for a threat that could eventually affect banks, payment networks and blockchains alike.

Quantum computers cannot break modern financial encryption at scale today. Singapore is acting now because replacing that security safely may take most of the decade.

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.

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The crypto market has dropped 2.8% in the past 24 hours to $2.24 trillion, with major cryptocurrencies leading the decline. Bitcoin fell around 2.7% to $63,400, while Ethereum dropped more than 3.2% to $1,874.

It’s not just the crypto market. Stocks are also facing heavy selling. South Korea’s tech-heavy KOSPI index plunged 10%, while Nvidia shares dropped around 5%.

Here are the key reasons why the crypto and stock markets are falling today.

Surging Fed Rate Hike ExpectationsOne of the biggest reasons is the upcoming FOMC meeting. Traders are becoming more worried that the Federal Reserve could raise interest rates instead of keeping them unchanged.

On the CME Fed Watch tool, the odds of a 25-basis-point hike have climbed to around 37%, compared with roughly 10% a week ago.

Higher rates can hurt crypto and growth stocks because investors may prefer safer assets that offer better returns.

AI and Chip Stocks Add More PressureThe sell-off is also spreading through technology and semiconductor stocks. South Korea’s KOSPI plunged more than 10%, while major chipmakers such as Samsung and SK Hynix faced heavy selling. The weakness has raised fresh concerns about whether the global AI investment boom is moving too fast.

Investors have poured huge amounts of money into AI infrastructure, but the market is now questioning how quickly those investments will generate returns.

That pressure has also reached U.S. markets, with Nvidia falling around 5% and other AI-linked stocks coming under pressure.

As technology stocks fall, investors are becoming more cautious across the wider market.

CLARITY Act Delay Adds to Crypto UncertaintyCrypto has also faced a separate setback after the U.S. Senate postponed work on the CLARITY Act.

The bill is designed to create clearer rules for the digital asset market. Its delay has reduced hopes for quick regulatory progress and added another concern for institutional investors.

However, the CLARITY Act delay is only one part of the current sell-off. The bigger pressure is coming from Fed uncertainty and the broader decline in technology and risk assets.

What’s Next for Bitcoin and Crypto?The market is now waiting for the Fed’s decision, with investors watching closely for any signal about future interest rates.

A surprise hike or a strongly hawkish message could put more pressure on Bitcoin and high-risk stocks. On the other hand, a rate hold with a softer outlook could ease selling pressure and trigger a relief rally.

Story Ends Here

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Clear Creek Financial Management, a Wall Street investment advisory firm with over $1.5 billion in assets under management (AUM), has revealed its crypto ETF investments. It has products pegged to Bitcoin (BTC), Ethereum (ETH), XRP and Solana (SOL) in its latest filing of Form 13F with the U.S. Securities and Exchange Commission (SEC).

Wall Street Firm Discloses Bitcoin, ETH, XRP, SOL Holdings The filing reflects the firm’s biggest crypto investment as the Bitwise Bitcoin ETF. It holds 304,155 shares, which valued at $9.69 million at the close of the reporting period. Clear Creek also held shares in the iShares Bitcoin Trust ETF, holding $477,412 worth of the fund, and the Grayscale Bitcoin Trust ETF, which has $248,539 worth of holdings.

Ethereum was also the second largest allocation of the firm’s crypto ETF. The filing revealed 337,162 shares of the Bitwise Ethereum ETF valued at $3.80 million. It also had 14,336 shares worth $170,455 of the iShares Ethereum Trust and 21,374 shares of the Grayscale Ethereum Staking ETF, valued at $321,251.

In addition to the two biggest cryptocurrencies, Clear Creek also had stakes in XRP and Solana ETFs. According to the filing, the firm held 11,621 shares of the Bitwise XRP ETF, which currently have a value of $135,501.

The investment manager stated he had 11,258 shares of the Bitwise Solana Staking ETF with a value of $112,693 in addition to 28,144 shares of the Grayscale Solana Staking ETF valued at $155,636 worth.

The filing comes as institutional interest in crypto ETFs expands. Moreover, the latest 13F filing reveals that Clear Creek Financial Management has a crypto strategy beyond Bitcoin and Ethereum as it is also holding XRP and Solana investment products.

Zcash mainnet has activated the Ironwood upgrade, introducing a new privacy pool to enhance supply security.

According to official announcements, the Zcash Open Development Lab (ZODL) has activated the Ironwood (NU6.3) network upgrade at mainnet block height 3,428,143. The upgrade introduces a new privacy pool designed to enhance Zcash network security and enable independent verification of the integrity of its circulating supply. With Ironwood’s launch, the existing Orchard privacy pool will be restricted: funds transferred out of Orchard must go through a "gate mechanism" before entering Ironwood. Zcash states that Ironwood is an ecosystem-wide collaborative upgrade driven by the Orchard privacy pool security vulnerability discovered at the end of May this year. The vulnerability was patched via an emergency network upgrade; there is currently no evidence it was exploited, nor any indication that user funds or the total ZEC supply were compromised. Built on the revised Orchard protocol, Ironwood incorporates formal verification and independent security audits to further strengthen the protocol’s resilience against future supply integrity vulnerabilities. For users, existing funds in Orchard need to be migrated to the new Ironwood privacy pool. Wallets supporting Ironwood will provide migration paths, and ZODL users can complete the migration directly via the latest version of the app, with no need to create a new wallet or change addresses. Zcash notes that Ironwood’s launch will retain privacy features while delivering stronger verifiability and a long-term security foundation for the network.

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A crypto whale transfers 5,000 ETH held for two years to Binance, posting an unrealized loss of $5.63 million.

According to Yu Jing Monitoring, a crypto whale accumulated 9,891 ETH via Binance in 2024 at an average price of roughly $3,011. After holding the position for two years, the whale opted to cut half of their position at a loss, transferring 5,000 ETH (worth around $9.42 million) to Binance an hour ago, with an unrealized loss of $5.63 million.

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Core Scientific increases its Bitcoin holdings by 301, bringing its total BTC holdings to 848.

AI data center service provider Core Scientific disclosed that it has recently added 301 Bitcoin to its holdings, bringing its total Bitcoin holdings to 848.

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US storage sector plummets, SanDisk drops over 16%

According to market data from BIT (bit.com), the U.S. stock storage sector has plummeted, with individual stocks recording the following declines: Seagate Technology (STX) down 13.34%; Western Digital (WDC) down 14.58%; SanDisk (SNDK) down 16.76%; Micron Technology (MU) down 11.83%; SK Hynix ADR down 9.37%.

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Dell Technologies plunged 13.5%

According to market data from BIT (bit.com), Dell Technologies (DELL.N) is on track to record its largest single-day drop since April 2025, currently down 13.5%.

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AI voice startup Fish Audio closes $50 million seed round.

According to TechCrunch, Fish Audio announced Tuesday that it has closed a $50 million seed funding round. The round was led by Coreline Ventures and Capital Today, with participation from investors including 359 Capital, Parable, Play Time, Alphalist Partners, Bayhouse Ventures, Carya Venture Partners, and HF0. Fish Audio originated as a small project launched by Shijia Liao, a former NVIDIA researcher. Dissatisfied with the lack of high-performing synthetic speech technology in the market, Liao trained a speech generation model using a single GPU and open-sourced it. Today, the Fish Speech project repository has earned over 31,000 stars on GitHub, and is widely used by independent developers, game designers, and content creators. Over the past year, Fish Audio has rolled out 5 models: 4 speech generation models and 1 speech-to-text model. The company has open-sourced 3 of the speech generation models, while its latest S2.1 Pro model is currently only accessible via a paid API. Since its launch last year, the startup’s open-source and hosted model versions have attracted over 8 million users, with annual recurring revenue (ARR) hitting $21 million.

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As prices in Bitcoin and altcoins continue to fluctuate, this has also been reflected in spot ETFs.

At this point, there was an outflow from spot Bitcoin ETFs, while Ethereum ETFs experienced a net inflow.

According to Farside Investors data, US spot Bitcoin ETFs recorded a net outflow of approximately $11.6 million yesterday, July 27.

This marks the third consecutive day of outflows from BTC ETFs, although the rate of outflows has begun to slow.

BlackRock’s IBIT fund led the way in Bitcoin ETF outflows with $8.8 million, followed by Fidelity’s FBTC fund with $2.8 million.

While no outflows were recorded except for two funds, Bitwise’s BITB; Ark Invest’s ARKB; Grayscale’s GBTC; Grayscale’s Mini BTC; Morgan Stanley’s MSBT; Wisdom Tree’s BTCW; VanEck’s HODL; Invesco’s BTCO; Franklin Templeton’s EZBC; and Valkyre’s BRRR fund recorded 0 flows.

Ethereum and Altcoins Are in a Mixed State! In contrast, Ethereum ETFs experienced inflows. According to Farside Investors data, US spot Ethereum ETFs recorded net inflows of approximately $11.7 million on July 27th. This signifies a reversal of the net outflows.

In ETH ETFs, BlackRock’s ETHA fund was the only fund to experience inflows, recording $11.7 million.

In contrast, Fidelity’s FETH; Grayscale’s Mini Ethereum (ETH); BlackRock’s ETHB; Bitwise’s ETHW; 21Shares’ TETH; VanEck’s ETHV; Invesco’s QETH; and Franklin Templeton’s EZET fund all recorded 0 flows.

Lastly, spot Solana ETFs recorded a net inflow of $1 million, while HYPE saw an outflow of $2.9 million, and XRP ETFs experienced neither inflow nor outflow.

*This is not investment advice.

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Bitcoin fiyatı dar bir bantta hareket etmeye devam ederken, zincir üstü analiz platformlarından gelen veriler piyasada temkinli görünümün sürdüğüne işaret ediyor. Analiz şirketi Nansen, Bitcoin’de kalıcı dip seviyesinin henüz teyit edilmediğini belirterek, fiyatın 52.000-58.000 dolar aralığını yeniden test etme ihtimalinin masada olduğunu açıkladı. Uzmanlara göre bu hafta açıklanacak Fed faiz kararı ve Strategy’nin ikinci çeyrek finansal sonuçları, Bitcoin’in kısa vadeli yönü açısından kritik rol oynayabilir.

Bitcoin’de Düşüş Riski Devam Ediyor Zincir üstü analiz şirketi Nansen’in uzmanları, Bitcoin’deki mevcut fiyat hareketlerinin henüz güçlü bir dip oluşumunu doğrulamadığını ifade etti. Şirkete göre BTC’nin 52.000 dolar ile 58.000 dolar arasındaki destek bölgesini yeniden test etme olasılığı devam ediyor. Analistler, özellikle makroekonomik gelişmeler ve yatırımcı duyarlılığındaki değişimlerin Bitcoin üzerinde belirleyici olmaya devam ettiğini vurgularken, kısa vadede volatilitenin yüksek kalabileceğine dikkat çekti.

İlginizi Çekebilir: CLARITY Yasası İçin Kritik Süreç: Ağustos Hedefi Riske Girdi!

Nansen’e göre bu hafta piyasaların odak noktasında ABD Merkez Bankası’nın (Fed) açıklayacağı faiz kararı ile Strategy’nin ikinci çeyrek finansal sonuçları yer alıyor. Fed’in para politikasına ilişkin vereceği mesajların riskli varlıklarda fiyatlamaları doğrudan etkileyebileceği belirtilirken, Bitcoin yatırımlarıyla öne çıkan Strategy’nin finansal sonuçlarının da kurumsal yatırımcı algısı üzerinde önemli etkiler oluşturabileceği değerlendiriliyor.

Balinalarla Bireysel Yatırımcılar Ayrıştı CryptoQuant tarafından paylaşılan verilere göre Binance’e yapılan Bitcoin transferlerinde balinalar ile bireysel yatırımcılar arasında dikkat çekici bir ayrışma yaşanıyor. Binance Whale to Exchange Flow verilerine göre balinaların borsaya gönderdiği Bitcoin’lerin 30 günlük toplam değeri, 12 Haziran’da yaklaşık 7 milyar dolar seviyesindeyken 27 Temmuz itibarıyla 3,9 milyar dolara geriledi. Bu da yaklaşık yüzde 44,3’lük bir düşüşe işaret ediyor. Buna karşılık bireysel yatırımcıların Binance’e gönderdiği Bitcoin miktarı daha sınırlı bir gerileme gösterdi. Son verilere göre bireysel yatırımcıların borsaya gönderdiği Bitcoin miktarı, balinaların gerçekleştirdiği transferlerin yaklaşık iki katına ulaşırken iki grup arasındaki fark 3,9 milyar dolar olarak hesaplandı.

CryptoQuant, balinalar ile bireysel yatırımcılar arasındaki bu ayrışmanın, Binance’e yapılan Bitcoin transferlerinin yapısında önemli bir değişime işaret ettiğini belirtti. Veriler, mevcut dönemde bireysel yatırımcıların borsalara Bitcoin gönderme konusunda balinalara kıyasla daha aktif davrandığını gösteriyor. Bununla birlikte şirket, borsalara yapılan Bitcoin transferlerinin her zaman doğrudan satış baskısı anlamına gelmediğinin altını çiziyor. Bu transferler; portföy yönetimi, teminat işlemleri veya farklı yatırım stratejileri kapsamında da gerçekleştirilebildiği için zincir üstü verilerin diğer piyasa göstergeleriyle birlikte değerlendirilmesi gerektiği ifade ediliyor.

Değerlendirme Nansen ve CryptoQuant verileri, Bitcoin piyasasında belirsizliğin devam ettiğini ortaya koyuyor. Teknik görünümde 52.000-58.000 dolar aralığı önemli bir destek bölgesi olarak öne çıkarken, Fed’in faiz kararı ve Strategy’nin finansal sonuçları kısa vadeli fiyat hareketlerinde belirleyici olabilir. Öte yandan balinaların borsalara daha az Bitcoin göndermesi dikkat çekse de, zincir üstü verilerin tek başına piyasanın yönünü belirlemek için yeterli olmadığı unutulmamalı.

Son Dakika kripto para haberleri için hemen tıkla.

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Bitcoin may be trading above what some investors expected this year, but according to Charles Schwab’s Head of Crypto Research, Jim Ferraioli, its “fair value” could actually be closer to $95,000.

Ferraioli said his valuation is based primarily on Bitcoin’s mining economics, rather than short-term market sentiment.

Why $95,000?“If you were to say what’s the fair value for Bitcoin at these levels, I think it’s probably about $95,000.” He said. 

He explained that the most efficient Bitcoin miners currently produce BTC at a cost of around $60,000, while less efficient miners are closer to $95,000. Drawing a comparison with traditional commodity markets, Ferraioli said that producers generally operate on relatively thin margins, making production costs a useful benchmark for estimating fair value.

Notably, the lower mining-cost estimate of around $60,000 represents a potential fundamental support zone. This level also lines up with Bitcoin’s 200-week moving average, which has recently been around the $60,000–$62,000 range.

He also clarified that the figure isn’t a price target, but rather a valuation based on the economics of Bitcoin production.

Seasonal Weakness Still in PlayFerraioli pointed out that the crypto market is currently in a seasonally weaker period, often referred to as “Bitcoin winter.” However, he added that risk assets have historically performed better toward the end of the year, leaving room for a potential year-end rally if market conditions improve.

What Could Drive the Next Move?While Ferraioli said it’s impossible to predict whether Bitcoin will reach $95,000 in the next six months, he said several catalysts that could support higher prices.

“It doesn’t take a lot of flows to move the needle on Bitcoin. This is a supply-constrained asset.” He said.

He says that Bitcoin rallied rapidly from around $60,000 to $83,000 earlier this year, showing how quickly prices can move when demand increases.

Looking ahead, he said the biggest drivers include greater regulatory clarity, particularly if U.S. crypto legislation advances, along with a renewed wave of institutional adoption. Sustained institutional inflows, combined with Bitcoin’s limited supply, could provide the momentum needed for another leg higher.

For now, Ferraioli sees Bitcoin’s mining costs as offering a practical framework for valuing the asset, while acknowledging that market sentiment, regulation, and institutional demand will ultimately determine whether prices move closer to that $95,000 level.

Story Ends Here

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The recent halt in military exchanges between the United States and Iran shifted investors’ attention away from traditional safe-haven assets and back toward risk-driven markets. 

Gold had rallied during the conflict as traders sought protection from geopolitical uncertainty. However, analysts later argued that easing tensions reduced the urgency for defensive positioning. 

Several market commentators expected gold to struggle near the $4,100 region after the conflict cooled, while Bitcoin [BTC] stood to benefit if investors rotated capital toward higher-risk assets. That shift arrived just as broader market sentiment improved across equities and digital assets. 

Moreover, traders remained cautious because macroeconomic events still carried the power to reshape market direction. As a result, both gold and cryptocurrencies entered the week with competing narratives rather than a clear trend.

Will macro events decide the next winner? Investors closely monitored a packed economic calendar that placed both crypto and gold at another decisive crossroads. 

The U.S. stock market reopened after the U.S.-Iran ceasefire, while lawmakers prepared for another possible discussion around the Clarity Act on the 28th of July. 

Markets also awaited the Federal Reserve’s interest rate decision on the 29th of July alongside earnings from Microsoft, Meta, and Kevin Warsh’s scheduled remarks. 

The following day brought PCE inflation data, Bank of Japan and Bank of England rate decisions, plus earnings from Strategy and Apple. Each event carries the potential to reshape expectations around liquidity, interest rates, and risk appetite. 

China fueled fresh debate over gold markets According to reports, China intended to impose restrictions on the trading of paper gold, adding even more uncertainty to the commodity markets. 

The discussion centered on China’s reported holding of roughly 30,000 tonnes of physical gold while concerns grew over leveraged paper contracts determining market prices. 

Analysts argued that one ounce of physical gold often supported multiple paper claims, leaving price discovery heavily influenced by derivatives instead of physical demand. 

That narrative encouraged speculation that confidence could gradually shift toward physical metal ownership. However, the development also carried broader implications for cryptocurrencies. 

Bitcoin supporters have long promoted the asset as a transparent alternative to traditional financial markets because its supply remains verifiable on-chain. Therefore, any decline in confidence surrounding paper gold markets could strengthen Bitcoin’s appeal among investors seeking assets with greater transparency and fixed issuance.

Source: X Bitcoin’s historical signals revived long-term conviction Bitcoin also attracted renewed attention after Blockworks Research highlighted several historical valuation signals. BTC traded at its most oversold level relative to the Nasdaq in recent history. 

The report also showed Bitcoin reaching an extreme oversold condition against gold while changing hands only 18% above its realized price of approximately $53,000. 

Previous bear market cycles had formed bottoms roughly 60 weeks after each all-time high, while the current cycle approached 40 weeks since its peak. Those comparisons suggested Bitcoin had entered a valuation zone that historically rewarded patient investors. 

Although history would not guarantee another identical outcome, the data indicated that downside pressure had already eased significantly compared with earlier stages of previous market cycles.

Source: X Final Summary Bitcoin’s historical valuation signals strengthened while gold’s geopolitical support started fading. Macro events this week could determine whether investors favor crypto or traditional safe havens.

Bitcoin declined in early Asia trading on July 28 as investors fretted about the prospect of higher interest rates.

The largest cryptocurrency fell as much as 2.3 per cent to US$63,414 (S$81,937) by 9am in Singapore, its lowest level in 11 days. Second-largest token Ether was down 3.6 per cent.

Citadel Securities expects the US Federal Reserve to raise rates by a quarter percentage point on July 29, a surprise move that it said would strengthen Chairman Kevin Warsh’s credibility in the battle with inflation.

Traders see a roughly one-in-three chance of a rate hike. Rising borrowing costs tend to drive investors away from risk assets such as cryptocurrencies.

“Bitcoin is mainly getting hit by the rising probability of a Fed hike, as well as macro concerns about AI-related credit risks,” said Caroline Mauron, co-founder Orbit Markets. “The next level to watch on the downside is US$62,000, with strong support expected around US$60,000.”

Bitcoin has been making modest gains throughout July amid hopes it has found a floor after crashing around 50 per cent from a record US$126,000 in October.

But heavy outflows from US-listed Bitcoin exchange-traded funds (ETFs) late last week underscore the fragility of its recent recovery. The ETFs saw more than US$465 million of outflows on July 23 and 24, snapping a seven-session inflow streak.

Rate-hike concerns are overshadowing recent momentum behind the Clarity Act, a long-awaited US cryptocurrency market-structure bill.

“We are currently holding a neutral bias on Bitcoin,” said Tony Sycamore, an analyst at IG Australia. “A sustained break and close above the 200-day moving average (currently at US$72,001) is still needed to negate medium-term downside risks, bring a buzz back to Bitcoin and to allow a more constructive technical picture to emerge.” BLOOMBERG

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Roughly $80 billion left the space during the Tuesday morning crash.

Bitcoin’s Monday rally that drove it to $65,600 on a couple of occasions has come to a screeching halt, as the asset has not only erased all gains but plummeted even more to a ten-day low.

Most altcoins have followed suit, which has skyrocketed the daily liquidations to approximately $700 million.

BTCUSD July 28. Source: TradingView The chart above paints a clear and painful picture. BTC had maintained $64,000 over the weekend before it jumped to a multi-day peak of $65,600 on Monday. It tried to take down that resistance twice, but it was stopped each time.

The second rejection was quite violent as it drove the asset south by nearly $3,000 in hours. Thus, BTC plummeted to $63,000 for the first time since July 17.

Popular analyst CRYPTOWZRD weighed in on the latest move south, indicating that the largest digital asset had closed bearish. They believe it’s essential for BTC to remain above the currently tested support at $63,000; otherwise, it could slump to new local lows.

ETH was yesterday’s top gainer, surging to a two-month peak of $1,980. However, it has lost $100 since then and now sits well below $1,900. XRP has dumped by 4.5% to $1.06, thus slipping below the coveted $1.10 support. SOL is down by a similar percentage, while HYPE has plummeted by 6%.

Expectedly, this big market move has harmed over-leveraged traders, as more than 165,000 such participants have been wrecked in the past 24 hours. The total value of liquidated positions has risen to almost $700 million on a daily scale. Naturally, BTC and ETH lead the pack.

You may also like: Bitcoin Trading Far Below Historical Norms: Rebound or a Warning Sign? Bitcoin’s 200-Week MA Is Back in Play: Why It Matters for BTC’s Price Trump Reportedly Halts Planned Attacks on Iran: How Will BTC React? Liquidation Data on CoinGlass This morning’s market crash comes just a day before the US Federal Reserve is scheduled to announce its interest rate decision, and the uncertainty around a potential hike has harmed risk-on assets like crypto.

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According to data from Farside Investors, U.S. spot Bitcoin ETFs saw a total net outflow of $11.6 million yesterday. BlackRock’s IBIT recorded a net outflow of $8.8 million, while Fidelity’s FBTC posted a $2.8 million net outflow; all other Bitcoin ETFs had zero net flows for the day. U.S. spot Ethereum ETFs, meanwhile, saw a total net inflow of $11.7 million yesterday. BlackRock’s ETHA accounted for the full $11.7 million daily net inflow, with all other Ethereum ETFs registering zero net flows for the day.

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SEC Chair Paul Atkins said in a CNBC interview that he’s “optimistic” that Congress will pass the key cryptocurrency market legislation.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.23 trillion, following an increase of 1.19% over the last 24 hours.

Dow Rallies, Nasdaq DipsMajor indexes closed in the green on Monday. The Dow Jones Industrial Average rallied 262.83 points, or 0.51%, to end at 52,210.08. The S&P 500 eked out a narrow gain of 0.02% to close at 7,413.18. The tech-heavy Nasdaq Composite, meanwhile, slid 0.18% and settled at 24,932.08.

Hostilities between the U.S. and Iran remained paused after nearly two weeks of nightly military exchanges. Mike Waltz, U.S. Ambassador to the UN, said negotiations are ongoing at both technical and senior levels, but stressed that the U.S. military remains "locked and loaded." 

Big Move Around the Corner?Ali Martinez, a widely followed cryptocurrency analyst and trader, noted Bitcoin’s 3-day Bollinger Bands tightening around the $65,000 level.

“Periods of low volatility like this are often followed by a major price expansion. A big move could be just around the corner,” the analyst projected.

The Bollinger Band Squeeze occurs when the volatility drops, causing the space between the bands to tighten. When the price closes outside of bands, traders consider it a potential new breakout. This strategy is used to identify the start of new trends following periods of consolidation.

Michaël van de Poppe, another prominent cryptocurrency influencer, spotlighted a short-term correction in Ethereum, but emphasized bullish continuation on the daily chart, targeting a breakout toward $2,000.

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It was reported as the end of an era in crypto. The centralized exchange Arthur Hayes helped found in 2014, BitMEX, officially announced that it will be shutting down after 11 years of operation.

The exchange pioneered the 100x-leverage perpetual swap, and perpetual markets eventually became the dominant crypto derivatives product.

BitMart, another centralized exchange that had been in the top 10 exchanges but fell lower down the pecking order, also announced the closure of its trading platform.

The last time a major CEX closed was during the FTX implosion in November 2022. Instead of leading to a deeper crypto winter, Bitcoin began trending higher just two months later, flipping the $21.5k swing level to support in January 2023.

There’s discourse among crypto netizens that the BitMEX closure could trigger another such turnaround.

The differences between the FTX implosion and the BitMEX wind-down The impact on the crypto markets from FTX’s collapse is vastly different from BitMEX’s circumstances. The former relied on the illiquid FTT exchange token and had been misappropriating customer funds for months.

Binance’s announcement that they would sell their FTT pushed investors into panic. The public tried to withdraw their assets worth billions from FTX. The exchange could not fulfill these orders because it was missing funds, leading to a bank run, bankruptcy, and years of recovery efforts.

By comparison, BitMEX’s shutdown was more tame. The exchange was unable to find a buyer, likely due to the complications around its $270 million insurance fund.

It has been criticized for its aggressive liquidation engine. A lawsuit, filed on July 23, alleged that “BitMEX strategically froze its servers during periods of high volatility so
that its Insider Trading Desk could maximize the number of customers to be liquidated”.

The company has assured its holders that its assets exceed liabilities, a situation markedly different from FTX’s bank run.

New phase of exchange consolidation XWIN Japan observed in a post on CryptoQuant Insights that BitMEX and BitMart ceasing operations marked a major shift in the crypto landscape. In their view, these closures were just part of a broader industry consolidation.

A rising Binance BTC reserve showed that liquidity was migrating to the largest exchanges left standing. It was not necessarily a sign that more Bitcoin was sent to Binance to be sold immediately.

Meanwhile, stricter regulations, rising compliance costs, and increasing institutional participation were making it difficult for smaller platforms to survive and attract users.

Current trends suggest the next market cycle could be increasingly dominated by exchanges that combine institutional-grade compliance with greater transparency.

Final Summary The BitMEX and BitMart closures are vastly different in both nature and impact from the FTX implosion that marked the 2022 market bottom. In the coming years, fewer, larger exchanges that meet institutional standards will be the ones left standing and competing for market share.

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