Bitcoin traded sideways near $66,000 on Wednesday, holding steady at its two-week high. Driven by upbeat AI sentiment, global chip stocks rose for the second consecutive session, while USD/JPY fell below 163 to hit its lowest level since 1986. As of press time, Bitcoin is up nearly 1% intraday, around 3% week-to-date, with 24-hour trading volume of ~$31 billion. Ethereum (ETH) trades at ~$1,920, up ~3% weekly; XRP gains 2% to $1.13, TRX edges higher; HYPE underperforms, down 4% on the day and ~10% over the past seven days. In Asian equities, the MSCI Asia Pacific Index rose 1%. South Korea’s KOSPI surged 5% before paring gains at midday, with SK Hynix leading gains by over 13%. The move follows the U.S. semiconductor index’s more than 5% jump on Tuesday, which helped it exit its technical bear market. In the forex market, USD/JPY broke below 163, marking a nearly 40-year low. While Japanese Finance Minister Satsuki Katayama stated authorities remain ready to take decisive forex intervention steps if needed, a stronger U.S. dollar, rising U.S. Treasury yields, and Iran-related oil price hikes have collectively amplified yen depreciation pressure. Analysts note that the fiat currency depreciation environment has long been a key pillar of Bitcoin’s narrative as an "inflation hedge and currency devaluation safeguard," though Bitcoin’s recent price correlation with chip stocks remains stronger than its link to the yen exchange rate.
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Binance adds 10 new bStocks tokenized securities to its margin collateral assets, expanding trading scenarios for securities assets.
Binance announced it will add 10 bStocks tokenized securities as eligible collateral for Cross Margin, Portfolio Margin, and Portfolio Margin Pro, further expanding its margin trading support. The newly added assets include: 3x Long Korea ETF (KORUB), AXT (AXTIB), CoreWeave (CRWVB), Direxion MU Bull 2X ETF (MUUB), GraniteShares 2X Long MRVL ETF (MVLLB), Tradr 2X Long SNDK ETF (SNXXB), GraniteShares 2X Long INTC ETF (INTWB), ProShares UltraPro QQQ (TQQQB), Quantinuum (QNTB), and Oracle (ORCLB). Binance noted that corresponding bStocks trading pairs will support margin trading simultaneously. Eligible users can use these tokenized securities as collateral to expand their asset options in margin trading. Currently, these bStocks assets are only supported for use as collateral, with lending functions not yet available. The service is exclusively open to VIP 3 and above users in eligible regions.
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Upbit has added Zilliqa (ZIL) to its trading watchlist due to suspected unresolved security risks.
South Korean crypto exchange Upbit announced that Zilliqa (ZIL) has been added to its "Transaction Attention" asset list, with trading pairs including ZIL/KRW and ZIL/BTC. In line with South Korea’s Virtual Asset User Protection Act, Upbit stated it detected potential unaddressed or unrepaired security risks—such as hacking incidents—in ZIL’s wallet or the distributed ledger it relies on for issuance, transmission, and storage, which could lead to user losses. The platform therefore decided to implement risk warning measures. The notice specifies ZIL’s transaction attention period runs from July 22, 2026 to the third week of August (August 17–21). During this review period, Upbit will assess relevant risks per its trading support termination policy, and may choose to extend the observation period, lift the warning, or terminate trading support entirely. Additionally, ZIL deposit and withdrawal services were suspended earlier. Upbit noted that if services are resumed in the future, withdrawals will be prioritized for restoration only; a decision on resuming deposits will be announced separately based on subsequent review results. Currently, new deposits cannot be credited, and all related deposit transactions will be refunded.
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A whale opened nearly 3,000 long positions in GOOGL ahead of market hours, marking the only new million-dollar position in the asset today.
Google parent company Alphabet will hold its Q2 2026 earnings call at 4:30 AM Beijing time on July 23, with financial results to be released ahead of the call. According to Hyperinsight’s monitoring, ahead of the earnings release, an on-chain whale bought 2,978.2 GOOGL shares in pre-market trading, worth ~$1.041 million, at an average entry price of $349.5 — the only new seven-figure GOOGL position detected. As of press time, GOOGL is down 1.5% on the day at $349.6, with the whale’s entry price near the intraday low after the pullback. The whale holds this long position with 10x leverage, posting an unrealized profit of ~$186 and remaining flat. Its liquidation price is $82, leaving a ~76.5% downside buffer from current levels. The whale has no other positions besides this one. This address favors left-side trading, has repeatedly held semiconductor stocks including MU, SKHX, and SNDK, and typically trades short-term positions worth ~$1 million, with an average holding period of ~15 hours over the past week. Its past losses stem mainly from failed early bets on trend reversals. Related reading: Among the U.S. "Magnificent Seven" tech giants, Google will release its earnings first tonight; the whale that front-ran the long position is now sitting on nearly 40% losses. An unverified online rumor has reignited panic: the AI bubble is bursting, and Google may become the first large enterprise to cut AI spending. HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as admin (enable message-sending permission) to automatically sync on-chain news.
1 minutes ago
Brent crude futures have topped $95, marking the first time since June 11.
According to Bitget market data, Brent crude oil futures prices have broken through $95 per barrel, marking the first such occurrence since June 11. Currently, Brent crude spot trades at $91.27, up 2.15% intraday; WTI crude stands at $88.76, with a 4.41% daily gain.
1 minutes ago
Kuwait plans to issue US dollar bonds as its economy struggles amid daily Iran-linked attacks.
Sources say Kuwait plans to issue U.S. dollar bonds on Wednesday. Over the past two weeks, the country has been hit by daily missile and drone attacks from Iran. Kuwait has hired banks including Goldman Sachs and Citigroup to arrange a three-part deal with tenors of three, five, and ten years. Final terms, including bond size and pricing, may be announced later Wednesday. Kuwait is a key U.S. ally in the Middle East, and thanks to its vast oil reserves, it ranks among the world’s wealthiest nations. However, Iran has frequently carried out airstrikes on Kuwait in retaliation for U.S. and Israeli strikes, leaving the country’s economy under heavy pressure this year. In April, Goldman Sachs analysts estimated Kuwait’s fiscal deficit had surged to nearly 40% annualized, as the country was forced to suspend most oil exports due to the closure of the Strait of Hormuz. (Jinshi)
1 minutes ago
TACO Trading Heats Up Again: Model Predicts Trump May Shift Iran Policy by Late July
The Wall Street-favored "TACO" (Trump Always Chickens Out) trade is now gaining support from quantitative models. An analyst team from geopolitical advisory firm Signum Global Advisors used four indicators—Brent crude oil prices, U.S. 10-year Treasury yields, vessel traffic through the Strait of Hormuz, and the S&P 500 index—to predict Trump may adjust his hardline policy toward Iran by the end of July. The model shows Trump typically needs a sharp market move of 2.3 to 3.4 standard deviations to trigger a policy shift, with an average threshold of around 2.9 standard deviations. Based on current market trends, analysts say the "TACO moment" has not arrived yet but is approaching, with the earliest possible date being July 22, the latest no later than July 30, and July 26 marked as the highest-probability date. Ongoing U.S.-Iran tensions are currently driving up market pressure: Brent crude oil has topped $91 per barrel, and the average U.S. gasoline price has broken $4 per gallon for the first time since mid-June. Disruptions to shipping in the Strait of Hormuz, rising war costs, and U.S. military casualties are adding to political pressure on the Trump administration. Republican insiders warn that if oil prices stay high for a prolonged period, energy costs could become a risk factor in the midterm elections. Conservative figures note that when oil prices break $90 during a ruling party’s tenure, it significantly erodes voter support. Analysts believe Trump’s current tough rhetoric may partly aim to force Iran back to the negotiating table, but as the conflict drags on, the U.S. government will face greater policy pressure between "escalating further" and "reducing military pressure."
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 cryptocurrency market is known for its sharp boom-and-bust cycles, making even volatile equity markets appear relatively stable. After a steep correction earlier this year, crypto could be poised for a rebound, with options activity in key crypto-linked stocks pointing to renewed bullish sentiment.
Options traders are aggressively buying call options on the iShares Bitcoin Trust ETF (IBIT), Strategy and Coinbase Global, signalling expectations of further upside, according to a CNBC report.
Coinbase shares jumped around 10% on Tuesday to close near $176 apiece, after dipping below $150 earlier this month. This came amid heightened options trading at the counter.
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A similar surge in options trading was seen in financial services company Robinhood Markets, whose shares jumped over 7%. The firm provides an electronic trading platform that lets users trade popular cryptocurrencies, including Bitcoin, Dogecoin, Ethereum and Litecoin.
These bullish bets are set to make profits only if crypto prices recover. In other words, these traders are betting on the crypto market heading towards a sharp rebound.
Bitcoin recorded marginal losses over the past 24 hours, but overall gained nearly 2% in one week and 3% in one month. It is however down over 44% in one year. Ethereum also has fallen over 48% in one year, but has gained around 10% in a month.
Also read | Is Bitcoin finally becoming digital gold equivalent?Trump's crypto gainsCryptocurrency has seen sharp volatility since US President Donald Trump took office last year. Even before being elected, Trump had self-proclaimed himself to be the “first crypto president” as he sought to curb regulations against the volatile financial assets. He began placing policies and initiatives that the crypto industry saw as beneficial.
After an initial boost, the sharp rally in crypto fizzled out. But the US President recently reported more than $1.4 billion in income from his family’s crypto ventures in 2025, as a review of his latest financial disclosures showed that the Republican US leader now derives most of his income from digital assets which have benefited from his policies.
According to Trump’s annual financial disclosures released late last month, his companies received almost $800 million from World Liberty Financial, a crypto venture he and his sons co-founded. This includes more than $520 million from sales of crypto tokes and more than $250 million from the sale of interests in the World Liberty business.
Trump made another $635 million from the sale of his Trump meme coins. Notably, the gains he made from crypto have skyrocketed recently. For comparison, he made $57.35 million from token sales at World Liberty just a year ago, marking a nine-fold jump to this year.
Also read | Donald Trump's $1.4 billion payday: How meme coins and a family venture built his fortune
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Looking for the best crypto casinos available in Mexico? These platforms provide enhanced privacy, rapid transactions, and an extensive selection of games that cater specifically to the Mexican market.
Whether you’re interested in playing with Bitcoin, Ethereum, or other popular cryptocurrencies, these casinos offer dedicated Spanish-language support, accept Mexican players, and provide region-specific payment methods alongside their crypto options.
We have personally tested and reviewed each site on the list, you can read our in depth reviews below.
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Table of Contents
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Guide to Crypto Gambling in Mexico The intersection of cryptocurrency and online gambling has created new opportunities for Mexican players seeking alternative gaming options. As digital currencies continue to gain traction across Latin America, crypto casinos have emerged as an innovative platform for gambling enthusiasts in Mexico. This comprehensive guide explores the landscape of crypto gambling in Mexico, providing essential information for both newcomers and experienced players.
Crypto Gambling in Mexico Understanding Crypto Casinos Crypto casinos represent the evolution of online gambling, operating on blockchain technology and accepting various cryptocurrencies as payment methods. These platforms function similarly to traditional online casinos but utilize digital currencies instead of fiat money. In Mexico, where financial inclusion remains a challenge for many citizens, crypto casinos offer an alternative avenue for accessing online gambling services.
Unlike conventional online casinos that require bank accounts or credit cards, crypto casinos allow Mexican players to participate using digital currencies, providing a level of financial freedom and privacy that traditional platforms cannot match. The blockchain technology underlying these platforms ensures transparency in transactions and game outcomes, marking a significant advancement in online gambling security.
Legal Status of Crypto Casinos in Mexico Mexico’s gambling laws operate in a gray area when it comes to cryptocurrency gambling. While traditional online gambling is regulated under the Federal Gaming and Raffles Law (Ley Federal de Juegos y Sorteos), specific regulations regarding crypto gambling remain undefined. The Mexican government has shown a progressive stance toward cryptocurrency adoption, though specific guidelines for crypto gambling operations are still evolving.
BC Game is a very highly regarded Crypto casino Currently, crypto casinos targeting Mexican players typically operate from offshore locations, falling outside direct Mexican jurisdiction. However, players should note that while using these platforms isn’t explicitly prohibited, they operate in an unregulated space. This regulatory ambiguity emphasizes the importance of choosing reputable platforms with proven track records.
How We Selected the Best Casinos for Mexico Our selection process focuses on platforms that cater specifically to Mexican players, considering factors such as Spanish language support, acceptance of popular payment methods in Mexico, and compatibility with Mexican cryptocurrency exchanges. We evaluate each casino’s track record, user reviews, and operational transparency. Special attention is paid to platforms offering customer support in Spanish and maintaining positive relationships with Mexican players.
LuckyBlock has some great bonuses for new players Features to Look for in a Crypto Casino Extensive game library with popular Mexican titles and live dealer options Robust security measures including SSL encryption and two-factor authentication Competitive welcome bonuses and ongoing promotions in cryptocurrency Spanish language support and region-specific payment options 24/7 customer service with Spanish-speaking representatives Provably Fair gaming systems with verifiable outcomes Mobile optimization for both iOS and Android devices Quick withdrawal processing times Multiple cryptocurrency support Clear terms and conditions in Spanish Popular Cryptocurrencies Accepted by Mexican Casinos Bitcoin (BTC) – Most widely accepted cryptocurrency Ethereum (ETH) – Popular for smart contract functionality Litecoin (LTC) – Known for fast transactions Tether (USDT) – Stable coin option Bitcoin Cash (BCH) – Lower transaction fees Ripple (XRP) – Fast international transactions Dogecoin (DOGE) – Growing acceptance rate How to Get Started with Crypto Gambling Getting started with crypto gambling in Mexico requires careful preparation and understanding of digital currencies. First, select a reputable cryptocurrency exchange that operates in Mexico, such as Bitso or Volabit. These platforms allow you to purchase cryptocurrencies using Mexican Pesos through various payment methods including bank transfers and credit cards.
Next, set up a secure cryptocurrency wallet to store your digital assets. Popular options include MetaMask for Ethereum-based tokens or Trust Wallet for multiple cryptocurrencies. Ensure you follow proper security protocols, including backing up your wallet’s recovery phrase and enabling two-factor authentication.
Betplay is a great casino & a top choice When making deposits, most crypto casinos provide detailed instructions in Spanish for transferring funds. Copy the casino’s wallet address carefully and double-check before sending any cryptocurrency. Withdrawals typically process faster than traditional casinos, often completing within minutes to a few hours.
Responsible Gambling in Crypto Casinos Responsible gambling takes on added importance in the crypto casino environment, where the potential for significant gains and losses exists due to cryptocurrency volatility. Mexican players should implement strict personal limits on both time and money spent gambling. Many reputable crypto casinos offer tools for setting deposit limits, loss limits, and session time restrictions.
Coinkings have one of the biggest welcome bonuses The National Commission against Addictions (CONADIC) in Mexico provides resources for problem gambling, though specific support for crypto gambling issues may be limited. Players should familiarize themselves with self-exclusion programs offered by crypto casinos and maintain awareness of warning signs for problem gambling behavior.
Pros and Cons of Crypto Casinos Advantages: Enhanced privacy and anonymity for Mexican players Faster withdrawal times compared to traditional online casinos Lower transaction fees, especially for international transfers Potential for cryptocurrency value appreciation Transparent gaming through blockchain technology No need for traditional banking methods Access to exclusive crypto bonuses and promotions Protection against currency devaluation Ability to play from anywhere in Mexico Disadvantages: Cryptocurrency price volatility can affect gambling funds Limited regulation and consumer protection Learning curve for cryptocurrency newcomers Risk of choosing unreliable platforms Potential technical difficulties with wallets and transactions Lack of direct government oversight Limited Spanish-language resources for some platforms Possible tax implications for crypto gambling wins Difficulty recovering funds in case of platform issues Conclusion The Mexican crypto casino market continues to grow, offering players more choices and better gaming experiences than ever before.
The best platforms combine the convenience of cryptocurrency transactions with localized features that Mexican players value most.
When choosing a crypto casino in Mexico, consider factors like Spanish language support, game variety, and payment methods that work seamlessly with Mexican banks alongside crypto options.
Remember that the platforms we’ve listed are constantly updating their offerings to provide the best possible gaming experience for Mexican players.
FAQs Are crypto casinos legal in Mexico? Online gambling operates in a grey area in Mexico. While there are no specific laws prohibiting the use of cryptocurrency casinos, players should be aware that online gambling regulations primarily focus on land-based establishments. Many international crypto casinos accept Mexican players without issue.
Can I deposit using both crypto and Mexican Pesos? Most crypto casinos serving Mexican players offer hybrid payment solutions, allowing deposits in both cryptocurrency and traditional Mexican Pesos (MXN). This provides flexibility for players who want to use both payment methods.
Which cryptocurrencies are most popular in Mexican online casinos? Bitcoin (BTC) remains the most widely accepted cryptocurrency, followed by Ethereum (ETH) and Litecoin (LTC). Some casinos also accept Tether (USDT) and other stablecoins pegged to the US dollar.
Do Mexican crypto casinos offer Spanish language support? Yes, reputable crypto casinos serving the Mexican market provide full Spanish language support, including customer service, game interfaces, and banking instructions.
What games are available at Mexican crypto casinos? Mexican crypto casinos typically offer a full range of casino games, including slots, table games, live dealer options, sports betting, and traditional Mexican games like lotería. Many also feature games from popular providers like Evolution Gaming and Pragmatic Play.
Are bonuses at Mexican crypto casinos different from regular online casinos? Crypto casinos often offer exclusive cryptocurrency bonuses alongside traditional casino promotions. These may include Bitcoin-specific welcome bonuses, crypto reload bonuses, and special promotions for using particular cryptocurrencies.
How do withdrawal times compare to traditional online casinos? Cryptocurrency withdrawals at Mexican casinos are typically much faster than traditional banking methods, often processing within minutes to a few hours. Traditional bank transfers can take 3-5 business days.
Can I play at Mexican crypto casinos on my mobile device? Yes, most crypto casinos serving Mexico are fully optimized for mobile play through either dedicated apps or mobile-responsive websites, supporting both iOS and Android devices.
Key Takeaways Balance Coin (BLC) plummeted over 99% following a security breach on BNB Chain Hackers minted millions of unauthorized BLC tokens and converted them to USDT and BTCB The attack involved two malicious transactions that siphoned approximately $915,000 from the ecosystem Blockchain security analysts SlowMist and PeckShield identified a Bitcoin price oracle vulnerability as the exploit vector The incident targeted 42DAO, which governs the Balance Protocol infrastructure An algorithmic stablecoin designed to maintain parity with the US dollar, Balance Coin experienced a catastrophic collapse on July 22 following reports from blockchain security researchers of an exploit targeting the 42DAO platform on BNB Chain.
The digital asset plunged from approximately $1 to an all-time low of $0.001209 within hours. According to CoinMarketCap data at press time, Balance Coin was changing hands at roughly $0.00247, representing a staggering 99.75% decline in a single day.
Cybersecurity firm PeckShield calculated total damages at approximately $915,000. The company traced the incident to vulnerabilities within 42DAO, the decentralized autonomous organization responsible for managing the Balance Protocol.
Security researcher TenArmor identified two questionable transactions connected to GemJoin and 42DAO operating on BNB Chain. The initial transaction created approximately 4.5 million BLC tokens from a zero address before transferring them to PancakeSwap V2.
Following this, the perpetrator exchanged the freshly created BLC for Binance-pegged USDT and Binance Bitcoin. Approximately two hours afterward, a follow-up transaction employed identical tactics to generate another 5,900 BLC and drain additional funds from liquidity reserves.
Understanding the Oracle Price Manipulation According to SlowMist’s analysis, the perpetrators leveraged a manipulated Binance Bitcoin oracle that displayed an artificially deflated price. This deception caused the protocol to incorrectly flag secure Bitcoin-collateralized vaults as vulnerable to liquidation.
“The attacker executed a single-transaction combination that took advantage of absent price safeguards and liquidation delays within a Maker-inspired architecture,” SlowMist explained. The bad actor liquidated numerous BTCB vaults and captured the resulting spread.
The creation of uncollateralized tokens saturated decentralized exchange liquidity pools with excessive BLC inventory. This overwhelming sell pressure drove the token far below its dollar benchmark without any effective stabilization mechanism in place.
Unauthorized Token Creation Continues Plaguing DeFi Platforms Similar attack patterns have emerged across multiple protocols. Last May, MAPO experienced a 96% value decline after malicious actors leveraged a bridge vulnerability to create unauthorized tokens and liquidate them through decentralized trading platforms.
In a separate incident, Stake DAO encountered an exploit where perpetrators generated trillions of vsdCRV tokens before converting them to ETH. Additionally, Resolv’s USR stablecoin departed from its peg in March following a comparable unauthorized minting event.
Balance Coin functions as the primary stablecoin within the Balance Protocol ecosystem, which according to its GitBook documentation is predominantly collateralized by Bitcoin Cash.
An official post-mortem analysis from 42DAO remained unpublished at the time of this report. Cointelegraph indicated it attempted to contact 42DAO for official commentary, though no statement had been made available.
The blockchain evidence identifies two suspected transactions as the origin of the security breach, with damages verified at roughly $915,000 by multiple security organizations.
Several leading cryptocurrencies are displaying renewed signs of strength after extended periods of downward movement, with technical signals pointing to potential trend reversals across the digital asset market.
XRP builds bullish pattern amid low volumeXRP, the token associated with Ripple Labs, has shown a notable turnaround after a lengthy decline earlier this year. Currently trading at $1.13, XRP has formed an ascending triangle on the daily chart—a pattern frequently linked to bullish continuation or possible upward reversals.
The current price structure is reinforced by a series of higher lows that have formed throughout July, illustrating steady buying interest as buyers stepped in earlier on each successive pullback. The rising trendline beneath the price supports this optimistic configuration.
Meanwhile, XRP continues to encounter resistance from several moving averages positioned just overhead. The 50-day exponential moving average (EMA), located near $1.17, serves as the first major obstacle. A sustained break above this level could shift market focus toward the 100-day EMA at approximately $1.24.
XRP’s relative strength index (RSI) has moved above the neutral 50 mark after months of softness, signaling an upswing in trader optimism, although trading volumes remain subdued as the market awaits confirmation.
Beyond these resistance points, the $1.30 area marks a key psychological and technical barrier. Conversely, failing to hold the rising trendline could leave XRP vulnerable to further losses, potentially targeting the $1.05–$1.00 support zone and invalidating the bullish outlook.
Resistance LevelApproximate Price50-day EMA$1.17100-day EMA$1.24Key psychological level$1.30200-day EMA$1.44Cardano targets $0.20 as recovery stabilizesCardano (ADA), a blockchain platform known for its research-driven approach, is emerging from one of its longest downturns. Trading now at $0.175, ADA has reclaimed several key short-term moving averages and is holding above its June lows, strengthening the technical picture despite still lagging major resistance levels.
A notable breakout from the prolonged horizontal range near $0.15–$0.16 has helped shift momentum in favor of buyers. This move established a firm higher low structure, which has been reinforced by continued support from both the 20-day and 50-day EMAs.
ADA’s RSI has climbed above 56, reflecting increased bullish momentum while not yet suggesting overbought conditions, and the next hurdle to watch is the $0.20 mark near the 100-day EMA.
A decisive move above $0.20 could open the path toward the $0.22–$0.25 zone. Improved trading volume since earlier in the year also points to renewed investor interest. However, the $0.16 support remains critical for ADA’s ongoing recovery prospects.
LevelApproximate PriceJune lows/support$0.16Current price$0.175Next resistance (100-day EMA)$0.20Potential target range$0.22–$0.25Stellar’s uptrend supported by strong baseStellar (XLM), known for its blockchain-based cross-border payment solutions, continues to quietly build a robust recovery structure. As of now, XLM trades near $0.19, consolidating above key moving averages after rebounding from its June lows.
Three critical EMAs—the 20-day, 50-day, and 100-day—have converged near its current price, setting the stage for an increase in volatility. Large volume surges seen in June signal growing market engagement, even as sellers have repeatedly tested the $0.18 support zone.
Despite multiple pullbacks, XLM has not set lower lows since the rallies, indicating that buyers are absorbing ongoing supply. Momentum indicators such as the RSI, which is near 52, further bolster the case for extended gains without the threat of immediate overheating.
A move above the $0.20–$0.21 resistance could see XLM revisiting previous highs near $0.23 and $0.25. Maintaining support above $0.18 is key for the integrity of the current uptrend, while a breakdown could shift attention back to $0.16.
Mini dictionary: Stellar (XLM) is a decentralized open-source protocol focused on enabling low-cost, fast international transfers and asset issuance.
Bitcoin faces crucial battle at $68,000Bitcoin, the market-leading cryptocurrency, has staged a recovery from its sharp June decline and is now trading near $66,300. The token has set successive higher lows, a pattern suggesting buyers are gradually regaining control of price action.
This rebound has lifted Bitcoin above both short- and medium-term moving averages. Yet, the region surrounding the 100-day EMA at $68,000 has proved a major challenge during recent rallies, repeatedly capping upside attempts.
A confirmed break above $68,000 could open the door for an advance to the $72,000–$75,000 range and reinforce a stronger medium-term trend for BTC. On the flip side, support between $63,000 and $64,000 remains pivotal for maintaining the current recovery phase.
The RSI has surpassed 60, highlighting improved demand, while trading volumes have steadied after the June sell-off. Whether Bitcoin can retake the $68,000 barrier in the coming days may prove decisive in setting the tone for the next market phase.
Key LevelApproximate PriceSupport zone$63,000–$64,000Current price$66,300Major resistance (100-day EMA)$68,000Potential target range$72,000–$75,000Disclaimer: 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.
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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S&P Dow Jones Indices and Pantera Capital have launched the S&P Pantera Digital Asset Index, a new crypto benchmark that excludes Bitcoin (BTC) entirely.
CEO Cathy Clay said Bitcoin fails the index’s core test, generating real protocol revenue instead of trading purely on speculation.
How the Index Weighs Its TokensThe index holds 18 constituents. Its five largest holdings are Ether (ETH), Binance Coin (BNB), Solana (SOL), Tron (TRX), and Hyperliquid (HYPE), a decentralized derivatives exchange.
The benchmark weights holdings by market capitalization and rebalances quarterly. No single token can exceed 35% of the total, and no other holding can top 20%. These caps mirror rules S&P applies to its own equity benchmarks.
Clay wants to bring stock-index discipline into digital assets. She favors protocols with verifiable economic activity over ones that trade on name recognition alone.
Pantera co-developed the methodology with founder Dan Morehead. The firm has managed over $3 billion across three investment strategies since launching its first crypto fund in 2013.
“S&P Dow Jones Indices helps investors cut through market noise with benchmarks you can trust.”
Clay, CEO of S&P Dow Jones Indices
Wall Street Warms to Altcoin SeasonThe exclusion highlights a widening split in how institutions define crypto value. By this measure, revenue beats Bitcoin’s dominant narrative as the market’s largest asset. Pantera’s history with institutional crypto access suggests more revenue-screened benchmarks could follow.
The launch lands as retail altcoin season signals stay unconfirmed but improving. CoinGlass’s Altcoin Season Index climbed to 58 in mid-July, building on a June 4 spike to 64. That reading sits above the neutral midpoint, but it remains short of the 75 threshold that confirms genuine rotation.
Institutional flows tell a parallel story. A March BeInCrypto Expert Council discussion found major allocators narrowing institutional crypto bets to Bitcoin, Ethereum, and a short list of DeFi names.
A revenue-screened benchmark like the S&P Pantera Digital Asset Index offers portfolio managers a compliant route into that same thesis. It provides exposure to large-cap altcoins with real usage, skipping meme coins and speculative networks entirely.
If other index providers copy the approach, institutional capital could rotate into select altcoins early. That could happen well before retail-driven altcoin season data confirms a broader move.
A new wallet withdrew 74,900 HYPE tokens from Galaxy Digital and transferred them to Coinbase.
According to on-chain monitoring, a newly created wallet address 0x448a withdrew 74,900 HYPE tokens from Galaxy Digital, valued at approximately $4.39 million, and subsequently transferred them to Coinbase.
5 minutes ago
OKX continues to upgrade its asset protection system, rolling out large withdrawal protection and night-time withdrawal protection.
According to official announcements, OKX has now launched large withdrawal protection and after-hours withdrawal protection. Large withdrawal protection allows users to independently set a 24-hour cross-channel cumulative withdrawal threshold, with a maximum equivalent of $10 million. After-hours withdrawal protection enables KYC-verified users to set a daily protection period of up to 12 hours, during which operations including on-chain withdrawals, C2C sales, API withdrawals, and Pay top-ups will be blocked. Users can configure these features in the "Security Center" → "Advanced Security Settings" section.
5 minutes ago
Summer Fi attacker transfers most of the stolen funds, leaving approximately $565,000 worth of ETH remaining.
According to monitoring by OnchainLens, following the Summer Fi attack on July 6, the attacker stole approximately 6.017 million DAI, and has since been converting and transferring funds via Tornado Cash. Currently, the remaining funds in the attacker’s wallets include: 11.3 ETH (valued at around $21,600) held in the original wallet, and 282.9 ETH (worth approximately $543,500) in a second wallet.
5 minutes ago
A certain whale has bought a total of 54,449 ETH and 600 WBTC since the end of June.
According to monitoring by The Data Nerd, wallet address 0x2684 has been steadily accumulating ETH and WBTC since June 30, with its current unrealized profit exceeding $12.5 million. The whale has purchased a total of 54,449 ETH (valued at roughly $94 million, at an average price of ~$1,726) and 600 WBTC (worth ~$38.37 million, with an average purchase price of ~$63,950). The position turned to unrealized profit after the whale added to its holdings during a market downturn.
5 minutes ago
Analysis: Bitcoin’s volatility falls to its lowest level since 2016, sustained deleveraging reduces liquidation risks
Crypto Quant analyst Axel Adler Jr noted in a post that Bitcoin has recently entered a low-volatility compression phase. The 30-day average of its 1-week realized volatility has fallen to 28.3, a roughly 31% drop from the June 25 peak of 41.6. The metric has also retreated to around the 8th percentile of its historical distribution since 2016, meaning 92% of past trading days saw higher volatility than current levels. Meanwhile, Bitcoin’s 30-day momentum of open interest (OI) relative to market capitalization has been negative for 21 consecutive days, signaling market leverage is continuing to decline rather than accumulating amid the low-volatility environment. The cryptocurrency’s current price has rebounded approximately 11.4% from its June low, but this uptick has not been paired with an expansion of derivative positions, reducing the risk of a large-scale liquidation cascade. However, Bitcoin remains below its 200-day moving average of $72,666. If volatility rises back above 35 while the price fails to hold above the long-term moving average, downside risks could increase.
5 minutes ago
Optical module and storage stocks pull back collectively in pre-market US stock trading.
According to BIT (Bit.com) market data, ahead of U.S. stock market opening, the optical module and storage sectors saw a slight pullback after rallying sharply yesterday, with pre-market funds showing signs of profit-taking. Optical module stocks: Coherent (COHR) closed up 11.15% at $317.220 yesterday, trading at $306.260 pre-market, down 3.46%; Lumentum Holdings (LITE) closed up 9.41% at $837.560, pre-market at $812.060, down 3.04%; Applied Optoelectronics (AAOI) closed up 15.76% at $119.260, pre-market at $115.940, down 2.78%; Nokia (NOK) closed up 5.46% at $10.630, pre-market at $10.530, down 0.94%; Marvell Technology (MRVL) closed up 6.68% at $207.960, pre-market at $202.720, down 2.52%. Storage stocks: Seagate Technology (STX) closed up 11.14% at $891.830 yesterday, pre-market at $864.500, down 3.06%; Western Digital (WDC) closed up 12.51% at $548.390, pre-market at $530.000, down 3.35%; SanDisk (SNDK) closed up 14.27% at $1589.400, pre-market at $1546.080, down 2.73%; Micron Technology (MU) closed up 12.17% at $970.820, pre-market at $944.550, down 2.71%. Pre-market, optical module and storage stocks generally pulled back 2%-3.5%, a technical adjustment following yesterday's sharp rally. Funds remain concentrated in the AI infrastructure chain, with storage and optical interconnection continuing to benefit from the expansion of AI server demand.
S&P Dow Jones Indices and Pantera Capital launched a new crypto index, leaving out Bitcoin (BTC) and Ripple’s XRP crypto assets. Ethereum (ETH), Binance Coin (BNB), Solana (SOL), TRON (TRX), and Hyperliquid (HYPE) are the top five constituents in the new benchmark for the crypto market.
Why Bitcoin and XRP Missed Out of S&P Dow Jones Crypto Index? S&P Dow Jones Indices and Pantera Capital announced the S&P Pantera Digital Asset Index, a new benchmark for the crypto market. The companies claim it will serve as a benchmark for institutional investors seeking a disciplined and structured approach to digital asset allocation.
However, the crypto index excludes top crypto assets Bitcoin and XRP. It also leaves out WhiteBIT Token, Unus Sed Leo and Rain Protocol.
S&P Dow Jones Indices CEO Kathy Clay said Bitcoin and XRP were excluded from the S&P Pantera Digital Asset Index due to their failure to meet a key revenue-generation requirement.
“We bring that same discipline to digital assets, using a fundamentals-driven, economics-based framework built for diversified portfolios. In collaboration with Pantera and powered by Artemis data, we apply the same standards in trusted benchmarks like the S&P 500 to help investors focus on fundamentals in one of today’s most fast-moving asset classes,” Clay added.
Bitcoin and XRP communities have already pushed back against the new benchmark for the crypto market as it doesn’t include top crypto assets.
BTC price has dropped below $66K after hitting a 24-hour high of $66,910. Also, XRP price has dropped more than 2% from $1.16 to $1.13 at press time amid escalating US-Iran war.
Details on S&P Pantera Digital Asset Index The new S&P Pantera Digital Asset Index holds 18 constituents, with ETH, BNB, SOL, TRX, and HYPE as the top five crypto assets.
Unlike traditional crypto indices that track prices or top crypto assets based on market cap, this index adopts an approach similar to traditional financial benchmarks. The crypto index only includes tokens and projects that have real-world utility and generate actual revenue.
The benchmark weights holdings by market capitalization and rebalances quarterly. The weighting factors include no single token can exceed 35% of the total and no other holding can top 20%. These caps mirror rules S&P applies to its equity benchmarks.
S&P Pantera Digital Asset Index Construction and Constituents Kathy Clay claimed she wants to bring stock index discipline into digital assets. She favors protocols with verifiable economic activity over ones that trade on hype and price momentum.
By prioritizing protocols with verifiable economic activity, this indexing approach aligns with the institutional framework powering regulated real-world asset platforms bridging traditional finance on-chain.
Binance, one of the largest cryptocurrency exchanges, has attracted attention with its high volume of Bitcoin (BTC) withdrawals in the last 24 hours. According to an analysis published by the on-chain analytics company Ruga Research, a total of 9,030 BTC, worth approximately $589 million, was withdrawn from Binance in the last day. This figure marks the largest daily Bitcoin outflow from the exchange in the last five months.
Analysts note that large Bitcoin withdrawals from centralized exchanges often indicate that investors are moving their assets to personal wallets for long-term storage. While this could be a positive signal that short-term selling pressure may lessen, it is not considered sufficient on its own to determine the market’s direction.
Ruga Research focused not only on stock market outflows but also on Bitcoin’s technical outlook. According to the company’s analysis, Bitcoin’s 30-day momentum indicator has recovered significantly recently. Previously at -21%, the indicator has risen back to 0%. The research firm noted that similar recoveries have led to upward price movements several times in the past year.
The report specifically highlighted the noteworthy timing of the recent major Bitcoin sell-off. According to Ruga Research, while similar-sized sell-offs in the past have mostly followed sharp price increases, the fact that this time the sell-off occurred during a period when price momentum was beginning to strengthen again may indicate a different dynamic in the market.
Experts say that investors should not evaluate such on-chain data in isolation, and that analyzing it in conjunction with macroeconomic developments, ETF fund flows, and institutional investor behavior will yield healthier results.
However, large-scale Bitcoin withdrawals have historically been known to contribute to a decrease in supply from exchanges, which in the long run has had a supportive effect on the price.
While analysts say it’s too early to interpret the latest data as a definitive bullish signal, they note that the high-volume rallies accompanying the recovery in momentum are an important indicator that market participants should closely monitor in the coming period.
*This is not investment advice.
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OKX continues to upgrade its asset protection system, rolling out large withdrawal protection and night-time withdrawal protection.
According to official announcements, OKX has now launched large withdrawal protection and after-hours withdrawal protection. Large withdrawal protection allows users to independently set a 24-hour cross-channel cumulative withdrawal threshold, with a maximum equivalent of $10 million. After-hours withdrawal protection enables KYC-verified users to set a daily protection period of up to 12 hours, during which operations including on-chain withdrawals, C2C sales, API withdrawals, and Pay top-ups will be blocked. Users can configure these features in the "Security Center" → "Advanced Security Settings" section.
1 seconds ago
Summer Fi attacker transfers most of the stolen funds, leaving approximately $565,000 worth of ETH remaining.
According to monitoring by OnchainLens, following the Summer Fi attack on July 6, the attacker stole approximately 6.017 million DAI, and has since been converting and transferring funds via Tornado Cash. Currently, the remaining funds in the attacker’s wallets include: 11.3 ETH (valued at around $21,600) held in the original wallet, and 282.9 ETH (worth approximately $543,500) in a second wallet.
1 seconds ago
A certain whale has bought a total of 54,449 ETH and 600 WBTC since the end of June.
According to monitoring by The Data Nerd, wallet address 0x2684 has been steadily accumulating ETH and WBTC since June 30, with its current unrealized profit exceeding $12.5 million. The whale has purchased a total of 54,449 ETH (valued at roughly $94 million, at an average price of ~$1,726) and 600 WBTC (worth ~$38.37 million, with an average purchase price of ~$63,950). The position turned to unrealized profit after the whale added to its holdings during a market downturn.
1 seconds ago
Optical module and storage stocks pull back collectively in pre-market US stock trading.
According to BIT (Bit.com) market data, ahead of U.S. stock market opening, the optical module and storage sectors saw a slight pullback after rallying sharply yesterday, with pre-market funds showing signs of profit-taking. Optical module stocks: Coherent (COHR) closed up 11.15% at $317.220 yesterday, trading at $306.260 pre-market, down 3.46%; Lumentum Holdings (LITE) closed up 9.41% at $837.560, pre-market at $812.060, down 3.04%; Applied Optoelectronics (AAOI) closed up 15.76% at $119.260, pre-market at $115.940, down 2.78%; Nokia (NOK) closed up 5.46% at $10.630, pre-market at $10.530, down 0.94%; Marvell Technology (MRVL) closed up 6.68% at $207.960, pre-market at $202.720, down 2.52%. Storage stocks: Seagate Technology (STX) closed up 11.14% at $891.830 yesterday, pre-market at $864.500, down 3.06%; Western Digital (WDC) closed up 12.51% at $548.390, pre-market at $530.000, down 3.35%; SanDisk (SNDK) closed up 14.27% at $1589.400, pre-market at $1546.080, down 2.73%; Micron Technology (MU) closed up 12.17% at $970.820, pre-market at $944.550, down 2.71%. Pre-market, optical module and storage stocks generally pulled back 2%-3.5%, a technical adjustment following yesterday's sharp rally. Funds remain concentrated in the AI infrastructure chain, with storage and optical interconnection continuing to benefit from the expansion of AI server demand.
1 seconds ago
Bitcoin crosses $66,000, down 0.32% in 24 hours.
According to HTX market data, Bitcoin has broken through $66,000, currently trading at $66,005.32, with a 0.32% drop over the past 24 hours.
1 seconds ago
Iran's Ministry of Interior: No negotiations are currently underway with the United States, but "information exchanges" are possible.
According to Iran's Mehr News Agency, a spokesperson for Iran’s Ministry of Interior stated that Iran is not currently negotiating with the United States, but "information exchange" between the two sides is possible.
Major cryptocurrencies rose on Tuesday as investors digested reports that the White House agreed to an ethics package accompanying the cryptocurrency Clarity Act.
Some Clarity Finally?Bitcoin rallied to a 5-week high above $66,900, and is now up 13% month-to-date. Ethereum hit an intraday high of $1,950, while XRP and Dogecoin also climbed.
The spike followed reports that the White House agreed to add an ethics provision to the Clarity Act, a key sticking point that has kept the bill tied up amid President Donald Trump’s cryptocurrency business interests.
Over $200 million was liquidated from the cryptocurrency market in the last 24 hours, with $160 million in bearish shorts erased, according to Coinglass data
Bitcoin’s open interest jumped 4.21% to over $50 billion, indicating an influx of new money into the derivatives market. Retail and whale futures traders on Binance were positioned “Neutral” on BTC.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.27 trillion, representing a 1.28% increase over the last 24 hours.
Stock Market ReboundsStocks rallied sharply on Tuesday. The Dow Jones Industrial Average spiked 385.38 points, or 0.74%, to end at 52,224.64. The S&P 500 climbed 0.89% to close at 7,509.20, while the tech-focused Nasdaq Composite gained 1.29% to end at 25,837.21.
U.S. forces, meanwhile, carried out their eleventh consecutive day of strikes against Iranian military assets, while reiterating that the Strait of Hormuz remains open to commercial shipping.
Ali Martinez, a widely followed cryptocurrency analyst and trader, noted that Bitcoin has faced repeated rejections at the Short-Term Holder Realized Price since November, framing it as the apex cryptocurrency’s biggest test.
“With BTC back near $66,000, all eyes are now on $69,340,” the analyst added. “If history repeats, that’s where the bulls will have to prove themselves.”
On-chain analytics firm CryptoQuant said that wallets holding between 1,000 and 10,000 BTC just accelerated their buying “at the fastest pace in months
“The total balance of this cohort has returned to the same level as before the February drop, 3.09 million Bitcoins, even with the price much lower now,” the research firm said. “This is the type of institutional trading pattern.”
Photo: KateStock / Shutterstock
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Bitcoin is trading at $66,259 as of Tuesday morning, up 1.3% over the past 24 hours and roughly 6% since bottoming near $62,517 earlier this week, according to CoinGecko data. Ether has climbed alongside it, trading at $1,930.83, up 0.4% on the day and 3.3% over the past week, marginally outperforming bitcoin's seven-day gain of 2.5%.
The move extends a rally that began last week on the back of soft U.S. labor market data, and has picked up further this week on renewed optimism that Congress may finally advance crypto market structure legislation before its August recess.
The CLARITY Act, which would establish a federal framework dividing oversight of digital assets between the SEC and CFTC, passed the House by a 294-134 vote in July 2025 and was advanced by the Senate Banking Committee in a 15-9 vote in May. Since then it has stalled, with Democratic senators including Angela Alsobrooks and Ruben Gallego withholding support over the bill's ethics provisions.
Reports this week of a potential compromise on those ethics terms have revived hopes that a floor vote could happen before the recess, a deadline lawmakers and industry groups have flagged as critical: missing it risks pushing the bill into next year, when its prospects would likely worsen.
Macro conditions have added a second tailwind. A weaker-than-expected June jobs report, which showed the U.S. economy adding only 57,000 positions against consensus estimates of roughly double that, combined with recent comments from Federal Reserve officials suggesting AI-driven productivity gains could help ease inflation, have strengthened bets that the Fed will cut rates later this year. Softer inflation prints in the weeks since have reinforced that view, adding to the risk-on backdrop that has lifted bitcoin, ether and other major tokens together.
Trading volume has moved with the price. Bitcoin's 24-hour volume sits at $31.68 billion, up roughly 1% on the day, while ether's has risen more sharply, up 11% to $11.7 billion. Both remain well below bitcoin's all-time high of $126,080 set in October 2025 and ether's all-time high of $4,946.05 set last August, with bitcoin still down 47% and ether down 61% from those peaks respectively.
Whether the rally holds likely depends on whether the Senate actually schedules a CLARITY Act vote in the coming days, and whether upcoming economic data continues to support the case for a Fed cut. A stalled vote or a hotter-than-expected inflation reading could just as quickly take the momentum back out of the market.
Bitcoin price has retreated from nearly $67,000 after escalating U.S.-Iran hostilities pushed oil prices higher and tempered optimism created by progress on the CLARITY Act.
Summary
Bitcoin pulled back after briefly touching $66,965 as sellers defended the $67,000 resistance level. CLARITY Act progress, ETF inflows and short liquidations fueled BTC’s rapid advance. Rising oil prices and the U.S.-Iran conflict threaten a sustained breakout toward $70,000. According to data from crypto.news, Bitcoin (BTC) price rose from an intraday low of $65,149 to $66,965 on July 21 before sellers forced the price back to about $66,440. The asset remained up 1.8% on the day, but its failure to hold $67,000 showed that traders were unwilling to chase the rally as energy and inflation risks returned.
CLARITY Act progress and ETF inflows have fueled Bitcoin’s rally Bitcoin’s advance began after the White House and Senate negotiators reached an agreement on an ethics provision that had delayed the Digital Asset Market Clarity Act. Treasury Secretary Scott Bessent described negotiations as being at the “1-yard line,” while senators suggested the bill was close to a final vote.
The proposed ethics rules address concerns about elected officials and senior government figures holding or promoting crypto assets while in office. Reports that President Donald Trump had accepted the provision helped crypto-linked stocks rally, with Coinbase and Circle shares gaining as much as 10% during the session.
U.S. spot Bitcoin exchange-traded funds added another source of demand. According to SoSoValue data, the funds recorded about $227 million in net inflows on July 20, their fifth consecutive positive session and their longest inflow run since April.
The ETF streak followed a difficult June, when investors withdrew billions of dollars from the products. Five days of fresh allocations have helped absorb available supply while Bitcoin has recovered from its June low near $58,000.
Spot activity also remained firm during the latest advance. Commenting on the order flow, analyst Ted Pillows wrote:
“Consistent spot buying for BTC now. This looks much better.”
Leverage amplified the initial breakout. Market data showed roughly $223 million in crypto positions liquidated over 24 hours, including about $181 million in shorts. Forced purchases by bearish traders helped Bitcoin clear $65,000 and accelerate through the $66,000 resistance area.
A separate derivatives event later exposed the rally’s fragility. According to trader Daan Crypto Trades, a position worth more than $100 million appeared to close at market, erasing over $250 million in Bitcoin open interest within one minute.
$BTC Massive $100M+ long just seemingly market closed.
$250M+ in Open Interest gone in a single 1 minute candle on BTC alone.
Meanwhile price retraced most of it minutes later.
Wonder what the idea was there, can't imagine that was a desired execution on that position. Fat… pic.twitter.com/he1nQXsP5n
— Daan Crypto Trades (@DaanCrypto) July 21, 2026 BTC briefly fell toward $65,900 before recovering most of the decline, which Daan attributed to a possible execution error or an attempt to trigger cascading liquidations.
Oil risks and overhead supply have blocked a clean $67,000 breakout Oil prices have complicated the bullish setup. U.S. crude climbed about 2.6% to $84.70 per barrel, its highest level since June 12, as supply fears grew across the Strait of Hormuz and the Red Sea.
Washington carried out a tenth consecutive day of strikes against Iran, while Trump warned that Tehran “will pay” for attacks that killed American soldiers. Reuters also reported damage to a tanker near the Strait of Hormuz and disruption involving Saudi crude shipments after threats from Iran-aligned Houthi forces.
Higher energy costs could feed into July inflation and give the Federal Reserve less room to support financial markets. The dollar strengthened as traders reassessed the chances of higher interest rates, creating a potential headwind for Bitcoin and other speculative assets.
On the daily chart, BTC has moved above the Bollinger Band midpoint at $63,839 and briefly exceeded the upper band near $66,100. Trading above the upper band confirms strong buying pressure, but the rejection from $66,965 raises the risk of a pullback toward the band’s midpoint.
Bitcoin daily price chart — July 22 | Source: crypto.news The Average Directional Index stood at 23.08. A reading below 25 means the daily trend has not yet gained enough strength to confirm a sustained directional move, despite Bitcoin’s recovery from the June trough.
Bitcoin has also reached the upper boundary of an ascending parallel channel on the four-hour chart. Resistance sits between $67,000 and $67,800, while the channel floor runs near $64,000. A four-hour close above $67,800 would clear the structure and expose $69,500, followed by the psychological $70,000 level.
Bitcoin 4-hour price chart — July 22 | Source: crypto.news Momentum still favors buyers. The four-hour MACD line stood at 592.66, above its 441.46 signal line, while the positive histogram reached 151.19. The Chaikin Money Flow reading of 0.35 showed that capital continued to enter the market despite the rejection.
CoinGlass’ three-day liquidation heatmap places the closest overhead leverage around $66,800 to $67,300, with another concentration near $68,000. A move through those levels could force additional short closures. Below price, liquidation pools appear around $65,300, $64,800, and $64,200.
Bitcoin liquidation heatmap | Source: CoinGlass The bullish case would weaken if BTC closes below the channel floor and loses the daily Bollinger midpoint near $63,800. Such a breakdown could expose the lower daily band at $61,578, while renewed oil gains, further military escalation, or declining ETF inflows would add pressure. Bitcoin must therefore convert $67,000 into support before the latest recovery can extend toward $70,000.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
You might have heard about BIP-110; here’s why this fork is not just bad for Bitcoin, but it is built on a misunderstanding of what a Bitcoin node is and what it is good for. As well as why, because of this misunderstanding, BIP-110 will fail.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
BIP-110 is a Bitcoin Improvement Proposal titled as a Reduced Data Temporary Softfork. The BIP proposes a consensus change to Bitcoin, which attempts to limit the types and amounts of arbitrary data that can be added to consensus-valid transactions by limiting a wide range of Bitcoin’s scripting capabilities. BIP-110 is led by a pseudonymous developer known as Dathon Ohm and is widely supported by the Knots community, an alternative implementation of Bitcoin led by one of Bitcoin Core’s earliest contributors, Luke Dashjr and its supporters.
The BIP-110 consensus change is headed towards a mandatory signaling period in the coming weeks and thus a potential fork with the main consensus rules as implemented in Bitcoin Core. The proposal needs to gain a great deal of support from miners within the coming weeks to change Bitcoin consensus. As of the time of writing, miner signaling for BIP-110 stands at less than one percent.
The Knots community, widely made up of Bitcoiners running nodes on machines like Start9 and Umbrel, has rallied around Knots in protest of a series of development decisions made by Bitcoin Core, the primary open source development community and reference implementation of Bitcoin. While a majority of senior Bitcoin developers are either opposed or apathetic to the changes proposed by BIP-110, the movement has gained enough steam to become an ongoing topic of discussion on social media.
Supporters of BIP-110 believe that by running Bitcoin full nodes that signal for the consensus change, they alone can change Bitcoin. Here are the main concepts being debated, the biggest misconceptions about Bitcoin consensus, what a Bitcoin node is, and why BIP-110 is almost certain to fail.
The Power and Limits of a Bitcoin Node Many of the disagreements and misconceptions in this recent cultural conflict within Bitcoin revolve around the idea of a Bitcoin full node. Influencers like Knut Svanholm, author and podcaster, have elevated the role of the full node to heights perhaps too close to the sun.
Knut recently tweeted: “Every person on Earth is a node in the Bitcoin network. Most to a minuscule extent, of course, but every node is first and foremost a person, not a machine. Which tools we use to interact with the network (and, by extension, to which extent they influence the network) is entirely dependent on the choices we make.”
Statements of this sort are poetically beautiful, philosophically grand, romantic even, but nevertheless technically incoherent and fundamentally meaningless. Knut’s tweet attempts to redefine what a ‘Bitcoin node’ means and fails at it, instead diluting the value of the term entirely. He might as well have said that every atom in the universe is a Bitcoin node, since apparently to him the term is all-encompassing.
Knut, though well-intentioned, is wrong. A Bitcoin node is something very specific. It is a full copy of all of Bitcoin’s transaction history, block headers and transaction-related data. Its purpose is very specific: to let users verify the integrity of Bitcoin’s supply and transaction history in relation to Bitcoin’s consensus rules.
Bitcoin nodes grant users a variety of benefits, such as privacy. Third-party wallet providers query their copy of the Bitcoin blockchain for the user’s balance and serve it back to the user via the wallet app. Most mobile wallets function this way, with users asking a third-party server for their balances; some, very few, can connect to a user-run local Bitcoin node, in which case the user’s public addresses and balances are not shared with any third-party wallet company.
Another benefit Bitcoin nodes grant users is the ability to check whether they are in consensus with the rest of the network, staying in sync. If the user mines Bitcoin or contributes any significant amount of hashing power to Bitcoin’s proof-of-work network, the node also provides the opportunity to assemble a block, choosing which transactions go into it. This is only possible if the user manages to mine a Bitcoin block, which is quite an achievement today, given the difficulty and steep competition.
Even new kinds of mining pools like Ocean, which attempt to decentralize block template production, letting retail miners have more influence over which transactions enter the chain, still need enough hashing power to win the proof-of-work race, resulting in sporadic blocks being mined and thus limited influence over the blockchain.
Bitcoin nodes also relay transactions across the network, with tens of thousands of them communicating via a flood network; this results in a censorship-resistant system where a small number of nodes can get controversial transactions to miners, bypassing any kind of filters, as demonstrated by Peter Todd’s relay libre. Thus, Bitcoin nodes can not easily filter which transactions enter the blockchain.
Even a large majority of Bitcoin nodes alone can not, however, change Bitcoin consensus. Not without having a large amount of economic activity entering the Bitcoin network through them, as exchanges do on behalf of millions of users. Not without having the protocol and application developer community behind them. Not without having the investor community behind them. Bitcoin is not a node democracy, contrary to popular memes today.
Bitcoin nodes do not grant you ‘citizenship’ in the ‘Bitcoin nation’. Satoshi Nakamoto was quite clear about this in the Bitcoin white paper. Bitcoin’s ultimate security and governance structure is: one CPU cycle, one vote, not one Bitcoin node, one vote. And miners, who run the CPU cycles over Bitcoin’s proof-of-work, are very sensitive to investor sentiment and the broader developer community, resulting in a distributed global protocol for money that is very difficult to change.
Bitcoin nodes ultimately let you know if you are connected to the network with the most accumulated proof-of-work and that its consensus rules are being followed, but a node alone does not let you change the consensus rules. Users who change the consensus rules of their Bitcoin node are, by definition, no longer running Bitcoin. As a result, changing Bitcoin consensus as a node runner is very difficult, and that’s a feature, not a bug. Bitcoin is money for enemies.
History and Bitcoin Consensus Games Deep work has been done, trying to understand Bitcoin consensus, its various pillars and interest groups. Ren Crypto Fish, Steve Lee and Lyn Alden identified six of them in BCAP, an open-source effort to analyze Bitcoin consensus and risks in protocol upgrades. BCAP identified stakeholders such as Economic Nodes, Investors, Media Influencers, Miners and Protocol Developers, and Users and Application Developers
Historically, in the case of a consensus crisis, it is true that Bitcoin nodes have been used to signal support for one version of Bitcoin over another. Fork events like 2017’s Bitcoin Cash fork are often cited as examples of economic nodes winning against opposition by miners. 2017’s legendary User Activated Soft Fork (UASF) faced major opposition in theory; a large majority of mining pools and their corresponding collective hashrate supported the Segwit2x version of Bitcoin, with many exchanges and corporations having signed the infamous New York Agreement.
The Bitcoin node-supported soft fork won nonetheless, bluffing the Segwit2x version from a contested blockchain altogether. But that’s the thing: while the Bitcoin nodes technically won, they did so by having massive support from protocol developers, investors and media influencers: these nodes really had economic weight and rough consensus. BIP-110, on the other hand, does not have the protocol developers, nor does it have enough investors behind it. Michael Saylor has come out against it, with many industry leaders also openly opposing it or staying out of the matter entirely.
In fact, during the Bitcoin Cash fork, the limits of retail Bitcoin nodes were clearly understood. A Bitcoin node run by an exchange is orders of magnitude more influential than that of a retail user, as it introduces large amounts of new transactions to the Bitcoin network. The Bitcoin node of a major mining pool is far more influential than that of a hobbyist solo miner, as it more often assembles blocks and chooses which transactions settle to the blockchain.
Most Bitcoiners outside of exchanges use mobile wallets to access their Bitcoin. Such users and investors can ‘vote’ with their money, so to speak, by moving their bitcoins and economic activity elsewhere, be it to a wallet that supports their vision of Bitcoin, or their own full node. But while users remain on mobile wallets that talk to third-party nodes, those users have little individual influence over Bitcoin consensus. And the vast majority of mobile wallets are using a Bitcoin core-compatible back end.
The same goes for exchanges; their users effectively delegate consensus decisions to the exchange operators. In some cases, exchanges have put consensus issues to a user vote, weighed by their total holdings, returning that decision to end users weighed by capital; we may see this happen again with BIP-110.
Votes of the sort have started happening with Foundry today. One of the biggest Bitcoin mining pools in the world, Foundry, recently emailed its miners informing them that they can vote on the proposal with their hashrate. A high enough support could result in Foundry signaling for BIP-110, though that remains unlikely. Users who do not vote will effectively signal against BIP-110, defending the status quo. Thus apathy about the topic of BIP-110 would be a win for Bitcoin Core by default. BIP-110 supporters need to culturally win over a majority of the Foundry hash rate, who then must act to vote against the Bitcoin Core developer consensus, the most popular Bitcoin implementation and best supported codebase.
Today, miners are not signaling support for BIP-110 in any significant way. In fact, according to some data, this is one of the least supported soft fork attempts by miner signaling in Bitcoin’s history. Less than one percent of the blocks mined in the current difficulty adjustment period are signaling for BIP110.
Concluding Thoughts BIP-110 has so far failed to gain consensus across major interest groups within Bitcoin; neither developers, investors, miners, nor large economic nodes support the consensus change. The result is likely to be a chain split in the coming weeks, which could have significant consequences for lightning wallets running on BIP-110-compliant nodes, ultimately resulting in a new, yet small blockchain that would probably have to change the proof-of-work used to stay alive.
Jack Dorsey, the billionaire technology entrepreneur and co-founder of Block, has introduced a new group chat platform called Buzz, aiming to provide an open-source and decentralized alternative to existing workspace tools such as Slack.
Buzz: A Decentralized Workspace SolutionDorsey described Buzz as a platform designed “for teams of people and agents of all sizes,” highlighting its model-agnostic, decentralized, self-sovereign, and open-source features. The tool is structured to enable users to chat with teammates and specialized agents within a single digital workspace. From there, users can move between messaging, planning, project management, coding, and pull requests without leaving the app.
Buzz is built for teams of any size, offering a familiar interface for those who have used modern team communication tools, while prioritizing openness and decentralized architecture.
The parent company Block, previously known as Square, stated that Buzz is built on the Nostr protocol, a decentralized social networking infrastructure designed to provide censorship-resistant communications.
Mini dictionary: Nostr protocol, an open protocol that enables decentralized and censorship-resistant social media platforms by allowing users to communicate without relying on central servers.
Commitment to Open and Transparent ToolsBradley Axen, head of AI capabilities at Block, emphasized the company’s direction, noting that every organization will eventually need a space where humans and AI agents work together. He pointed out the critical difference between proprietary and open systems, stressing that Block built Buzz to ensure that such collaborative spaces can remain open to all.
Block believes the answer to whether future workplaces are proprietary or open lies in open platforms, leading to Buzz’s development as a fully open-source solution.
Dorsey’s Vision for Decentralized Finance and TechnologyJack Dorsey, who previously founded Twitter, has consistently advocated for decentralized solutions in the tech industry. Following his departure from Twitter in 2021, Dorsey shifted his focus to expanding Bitcoin adoption and transforming payment technologies through Block and its subsidiary companies Square and Cash App.
Cash App allows users to send, receive, buy, and sell Bitcoin, while Square’s point-of-sale terminals have integrated Bitcoin payments via the Lightning Network, a layer two solution optimizing Bitcoin transactions.
Dorsey has also expressed admiration for the foundational principles of Bitcoin, characterizing Satoshi Nakamoto’s white paper as “poetry” and promoting the idea of Bitcoin as a universal currency for everyday use.
Further reflecting this vision, Block in 2023 launched a Bitcoin mining rig with modular, swappable components, aiming to help miners reduce repair and replacement costs by upgrading only specific parts instead of full units.
These efforts reflect Dorsey’s broader strategy to accelerate adoption of decentralized technologies, reduce dependency on centralized services, and empower individuals and teams with open-source alternatives across various domains.
PlatformOwnershipSource ModelFocusBuzzBlock (Jack Dorsey)Open-sourceDecentralized chat & agent collaborationSlackSalesforceProprietaryTeam communicationDisclaimer: 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.
Glassnode reported improving derivatives activity despite muted spot trading in the Bitcoin market.
Speculative activity in the Bitcoin market is showing signs of recovery even as spot market participation remains subdued, according to Glassnode’s latest findings.
The analytics firm said spot trading activity continues to lack conviction, as Spot Volume fell below the lower statistical band of $4.5 billion, which was indicative of persistently weak liquidity and muted investor participation. Such low trading volumes typically accompany periods of consolidation, where markets struggle to build enough momentum for a decisive breakout.
At the same time, Spot Cumulative Volume Delta (CVD) showed that aggressive taker selling has eased compared to the previous week. Although the metric remains in negative territory, the narrowing deficit signals that sellers are becoming less aggressive. The reading is now sitting comfortably within its statistical range as traders reassess their market direction.
While spot markets remain quiet, derivatives data points to a gradual return of speculative appetite.
Derivatives Activity Picks Up Futures Open Interest, for one, has climbed to $32 billion. Glassnode said the steady increase indicates traders are gradually re-establishing leveraged positions, which has led to higher participation across the futures market.
Long-Side Funding Payments, however, have declined to $1.7 million and are now close to the upper statistical threshold. According to the report, this suggests bullish positioning is still dominant, but traders are paying a smaller premium to maintain long positions. This means that aggressive bullish conviction has moderated compared to recent sessions.
Meanwhile, Perpetual CVD has recovered sharply and has reversed from a net selling bias to a positive $123.2 million. The move into positive territory points to a shift in taker behavior, as aggressive buyers are now exerting greater influence on price action than sellers.
You may also like: Crude Oil Spikes Above $91: What It Means for Bitcoin (BTC) Bitcoin Just Triggered Three Rare Signals That Previously Marked Market Bottoms Bitcoin Has Exited Capitulation Regime as Momentum Rebuilds: Analysts Options Positioning Shifts Activity in the options market has also strengthened. Options Open Interest rose to $30 billion, as capital committed to derivatives positions increased, although the figure remains slightly below the lower statistical band of $30.3 billion. Glassnode said the trend suggests traders are actively opening new positions. This potentially raises the chances of volatility around major options strike prices.
Simultaneously, the Volatility Spread has narrowed sharply and now sits comfortably within its statistical range, which indicates that implied volatility has largely aligned with realized market movements and that options traders are demanding a smaller risk premium.
This trend was also evident in the Options 25-Delta Skew, which has retreated significantly amidst weaker demand for protective put options and a moderation in bearish hedging activity as sentiment becomes more neutral.
As Bitcoin [BTC] shows relative strength, some long-term holders are starting to make moves. In fact, one whale has captured market attention after shifting away from accumulation.
Onchain Lens reported that a whale who has been aggressively accumulating Bitcoin over the past six years finally moved his assets. According to the on-chain monitor, $130.5 million worth of Bitcoin was transferred.
Source: Arkham The associated wallet moved 800 BTC worth $52.2 million to Cumberland for OTC. At the same time, the wallet moved 1200 BTC worth $78.3 million to new addresses.
The whale’s decision to move some holdings to Cumberland signaled the intention to sell. While OTC hardly directly affects the market supply, it could significantly affect market sentiment. However, the transfer of the large amount to a new address suggested the whale is not fully exiting but repositioning.
Any impact on BTC? Usually, a major transfer from long-term holders is closely watched by market players. Despite the attention, it seems the transfer had no negative impact on Bitcoin’s price action.
On the contrary, BTC has continued with its bullish streak, rising to a monthly high of $66,314 before a slight pullback. At press time, Bitcoin was trading around $66,195, after rising by 3.02% on the daily charts.
Source: TradingView With BTC holding within an uptrend since $62k a day ago, the momentum has strengthened extensively. The Stochastic Momentum Index (SMI) hiked to 67 after forming a bullish crossover two days ago.
At these levels, the current trend is relatively strong. Furthermore, the Squeeze Momentum Indicator has held and remained positive over the past week, reflecting strengthening momentum.
Often, when these indicators move in such a manner, the prevailing trend is likely to continue. If the momentum holds, Bitcoin will flip $67k and target a move above $70k.
Does Bitcoin still face rising pressure? Although the whale transfers have had little to no impact on Bitcoin, the upward trajectory has incentivized profit takers to return.
For starters, the Bitcoin Fund Flow Ratio has been on the rise over the past week, climbing to a high of $0.06 at press time.
Source: CryptoQuant A rising Fund Flow Ratio suggests more coins have recently flowed into exchanges. Higher exchange flows increase the risk of short-term bearishness. This trend was further confirmed as Exchange Netflow turned positive, rising to 4.7K.
Source: CryptoQuant A positive Netflow suggests more BTC has recently flowed into exchanges. Historically, increased exchange inflows have preceded a weakened market structure.
Therefore, if sellers continue to offload, the pressure could weaken momentum and likely push it to $64,800.
Final Summary A Bitcoin whale moved 2,000 BTC worth $130.5 million, moving 800 BTC to Cumberland OTC and 1,200 to fresh addresses. Rising Fund Flow Ratio and positive Netflow signal growing exchange inflows, raising short‑term bearish risk for Bitcoin.
Bitcoin (BTC) whales (accounts holding between 1,000 and 10,000 BTC) have been consistently accumulating the cryptocurrency since late May. This period of accumulation began in early May, when prices were around $80,000, and has continued even as prices declined 17.25% to a current $66,256.
Whales load up on Bitcoin despite market swings Unlike previous months, the period since May shows unprecedented, continuous accumulation despite geopolitical and macroeconomic headwinds. In the last month alone, this cohort has accumulated 48,000 Bitcoins. This brings their total stash to 3.09 million Bitcoins, similar to the amount they held in February of this year.
Source: Crypto Quant
These whales likely represent institutions that thrive on Dollar-Cost Averaging (DCA) rather than timing markets for ripe entry levels.
Even then, these whales are likely anticipating a major market turnaround following recent developments in global crypto regulation and technical setups.
US President Donald Trump recently signed an ethics package barring him and any other high-ranking officials from profiting off the crypto policies they shape. Despite this development, nations such as Japan and Russia are way ahead of America in terms of crypto regulation. This builds pressure for swift policy legalization, seeing as the US aims to lead the crypto industry on a global scale.
Technical setupsOn-chain metrics such as MVRV (Market Value to Realized Value) and CVDD (Cumulative Value-Days Destroyed) suggest a potential cycle bottom between $40,000 and $50,000.
However, one technical trifecta indicates we may have arrived at a historically dominant accumulation zone.
Source: Ali Charts
The monthly Relative Strength Index (RSI) is below 43.65, the Chande Momentum Oscillator is at -71, and BTC is actively trading around its 50-month moving average. The combination of these offers a highly favorable risk-to-reward ratio, driving whale attention away from shorting and into accumulation.
Story Ends Here
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The Digital Chamber has filed a lawsuit against Illinois’ Digital Asset Tax Act, aiming to halt the law before its scheduled implementation on January 1, 2027. The act imposes a 0.2% tax on digital asset business activities, marking the first state tax of its kind in the U.S. The Chamber’s complaint argues that the law unfairly singles out blockchain transactions for different tax treatment compared to traditional financial transactions. This legal action places Illinois’ crypto tax regime under broader regulatory scrutiny and highlights the ongoing debate over state-level digital asset taxation.
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The lawsuit could have implications for the cryptocurrency market, particularly Bitcoin, as it suggests potential regulatory pushback against state-level crypto taxes. Markets are assessing this legal challenge’s impact on Bitcoin’s future price, with some indicating it could positively influence Bitcoin’s market perception. Current market data shows a range of probabilities for Bitcoin reaching various price points by the end of 2026, reflecting the uncertainty surrounding regulatory developments.
Key Takeaways The Digital Chamber’s lawsuit against Illinois’ Digital Asset Tax Act suggests potential regulatory challenges for state-level crypto taxation. Market pricing indicates that participants view the lawsuit as consistent with scenarios where Bitcoin’s market perception could be positively affected. Bitcoin markets currently show varied probabilities for reaching certain price targets by December 31, 2026, reflecting uncertainty in regulatory outcomes. What to Watch The outcome of the Digital Chamber’s lawsuit against Illinois will be a key indicator of how state-level crypto taxes may evolve. Markets will be closely monitoring any developments in this legal case, as its resolution could significantly impact market perceptions and pricing scenarios. Additionally, ongoing regulatory discussions at both state and federal levels could further influence Bitcoin’s path to reaching significant price milestones by the end of 2026.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 2.1% — — View market → December 31 2.2% — — View market → December 31 2.8% — — View market → December 31 3.2% — — View market → December 31 6% — — View market → January 1 2027 11% — — View market → January 1 2027 20.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 2.4% — — View market → January 1 2027 2.2% — — View market → January 1 2027 3.7% — — View market → January 1 2027 4% — — View market → January 1 2027 7% — — View market → January 1 2027 45.5% — — View market → January 1 2027 10.5% — — View market → January 1 2027 1.4% — — View market → January 1 2027 2.1% — — View market → January 1 2027 31.5% — — View market → January 1 2027 15.5% — — View market → January 1 2027 8.5% — — View market → January 1 2027 4.5% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.9% — — View market → January 1 2027 1.4% — — View market → January 1 2027 0.9% — — View market → January 1 2027 13.5% — — View market → January 1 2027 24.5% — — View market → January 1 2027 35.5% — — View market → January 1 2027 61.5% — — View market → January 1 2027 80.5% — — View market →
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin’s miner-linked over-the-counter [OTC] balances continue shrinking. That means – fewer coins remain available for large private transactions.
Since November 2021, holdings have dropped from 500,000 BTC to 139,700 BTC, a decline of nearly 72%. Miners drew down their inventory over time without meaningfully rebuilding it after the 2024 halving.
Source: CryptoQuant As a result, OTC supply tightened while miner-to-exchange flows declined. Naturally, it suggested lower visible selling pressure on Bitcoin.
Meanwhile, Bitcoin’s [BTC] price has advanced despite declining OTC inventories, highlighting stronger demand against a shrinking pool of available supply. Yet, if institutions and whales continue accumulating under these conditions, tighter liquidity could amplify Bitcoin’s upside sensitivity in the coming quarters.
Bitcoin supply tightens beyond miner OTC desks The tightening supply picture extends beyond miner-linked OTC desks and is now visible across centralized exchanges.
On the 20th of July, Bitcoin recorded $686 million in Exchange Netflows. By the way, Binance led with $570 million in net outflows, marking its largest withdrawal since April.
Source: CryptoQuant Furthermore, Bybit contributed $65 million, Coinbase another $48 million, and HTX nearly $3 million.
Ultimately, it meant there were coordinated withdrawals rather than isolated activity. As more BTC leaves exchange wallets, the pool of coins readily available for spot-market selling continues to shrink.
This trend complements declining OTC inventories, reinforcing a tighter market structure. If demand continues strengthening, reduced exchange liquidity could amplify Bitcoin’s upside sensitivity in the months ahead.
Are long-term holders selling? Even as Bitcoin rebounded from recent lows, long-term holders showed little interest in distributing older coins into the market. The trend of Coin Days Destroyed (CDD), which measures the number of days old coins are sold into circulation, remains flat at 16.4 million.
Source: CryptoQuant Those brief increases failed to develop into sustained selling, suggesting most dormant holdings remained untouched despite changing market conditions. Therefore, it is likely that most of the older coins continue to remain unliquidated regardless of changes in the markets.
As older coins stay inactive, the burden of driving price discovery shifts toward fresh spot demand instead of recycled supply.
Thus, the next price movement for Bitcoin could potentially be driven by whether or not sufficient capital is available in the market. That demand must absorb the majority of the coins remaining within the increasingly smaller tradable float.
Final Summary Bitcoin [BTC] tradable supply continues shrinking as sell-side liquidity remains constrained. Bitcoin needs stronger spot demand to unlock its tightening supply advantage.
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.
In brief Shareholders voted by more than 90% to sell the company's 668 BTC, return capital, and cancel its London Stock Exchange listing This marks the end of a Bitcoin treasury experiment in under twelve months. Satsuma raised £163.6 million in August 2025 but expects to return only £26.8 to £30 million after wind-down costs. The shareholders of Satsuma Technology, a U.K.-based Bitcoin treasury company, have voted to liquidate the company's entire Bitcoin position and shut down the business, overruling four of its six board members.
More than 90% of votes cast backed the dual resolutions to sell 668 BTC—worth roughly $43.5 million—and cancel the company's London Stock Exchange listing, per a Monday filing. The move unwinds the digital asset treasury, or DAT for short—the latest such company to call it a day after the DAT trend picked up steam in 2025.
Satsuma started life as TAO Alpha, a small AI firm, before rebranding and hiring Mark Moss in August 2025 as its Chief Bitcoin Strategist. Moss is an American Bitcoin commentator with over 700,000 YouTube subscribers known for advising institutions on how to buy and hold Bitcoin as a corporate treasury asset—essentially, a company's rainy-day fund, but in crypto.
The same month, Satsuma raised £163.6 million ($218 million) through convertible notes—debt instruments investors can either reclaim as cash or convert into company shares—led by ParaFi Capital, with Pantera Capital, Digital Currency Group, and Kraken joining in. Investors contributed 1,097 BTC directly in place of roughly $97 million in cash.
The stock peaked around £14 per share, roughly £66 million in market cap, in June 2025. Bitcoin then hit its $126,000 all-time high in October before entering a months-long slide in what became the current crypto winter, dragging the rest of the market—including Satsuma’s stock—with it.
By December, Satsuma was already selling assets to stay solvent: 579 BTC went for £40 million to ensure it had enough cash to repay noteholders who chose not to convert their debt into shares by year-end.
The unravelingThe company’s CFO departed in February 2026; the CEO followed in March. By April, shares had lost more than 99% of their June 2025 value—trading at fractions of a penny—and Pantera Capital, holding about 6.7% of Satsuma's stock, began pushing publicly for full liquidation.
The logic was direct: Satsuma's market cap—the total combined dollar value of all its shares—had fallen well below the value of the Bitcoin sitting on its own balance sheet, the point where owning the stock is strictly worse than owning the coin directly. A group of shareholders representing more than 20% of issued capital formally put the resolution to a vote.
The board split hard. Four of six directors opposed the liquidation, arguing Satsuma was still a viable listed Bitcoin vehicle. Two sided with shareholders pushing to wind down. Shareholders overruled the board majority by a wide margin.
The wind-down runs through a "B Share Scheme," a U.K. legal mechanism for distributing cash assets back to shareholders. Satsuma expects to return between £26.8 million and £30 million after estimated termination costs of £2.7 million—legal fees, severance, delisting charges, and run-off insurance.
Combined with the £40 million from the December BTC sale, total capital recovered lands around £66–£70 million against the £163.6 million originally raised. And because convertible note holders rank above common equity in any payout structure—meaning they get paid first—ordinary shareholders could walk away with considerably less than even those numbers suggest.
Satsuma is currently the second-largest U.K.-listed Bitcoin treasury company by holdings. The first is The Smarter Web Company, which holds 2,878 BTC and has not suggested it’s winding down.
U.K. High Court hearings to approve the capital return are set for August and September 2026. The delisting is expected mid-September, with shareholder payments due by late September.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Shareholders voted by more than 90% to sell the company's 668 BTC, return capital, and cancel its London Stock Exchange listing This marks the end of a Bitcoin treasury experiment in under twelve months. Satsuma raised £163.6 million in August 2025 but expects to return only £26.8 to £30 million after wind-down costs. The shareholders of Satsuma Technology, a U.K.-based Bitcoin treasury company, have voted to liquidate the company's entire Bitcoin position and shut down the business, overruling four of its six board members.
More than 90% of votes cast backed the dual resolutions to sell 668 BTC—worth roughly $43.5 million—and cancel the company's London Stock Exchange listing, per a Monday filing. The move unwinds the digital asset treasury, or DAT for short—the latest such company to call it a day after the DAT trend picked up steam in 2025.
Satsuma started life as TAO Alpha, a small AI firm, before rebranding and hiring Mark Moss in August 2025 as its Chief Bitcoin Strategist. Moss is an American Bitcoin commentator with over 700,000 YouTube subscribers known for advising institutions on how to buy and hold Bitcoin as a corporate treasury asset—essentially, a company's rainy-day fund, but in crypto.
The same month, Satsuma raised £163.6 million ($218 million) through convertible notes—debt instruments investors can either reclaim as cash or convert into company shares—led by ParaFi Capital, with Pantera Capital, Digital Currency Group, and Kraken joining in. Investors contributed 1,097 BTC directly in place of roughly $97 million in cash.
The stock peaked around £14 per share, roughly £66 million in market cap, in June 2025. Bitcoin then hit its $126,000 all-time high in October before entering a months-long slide in what became the current crypto winter, dragging the rest of the market—including Satsuma’s stock—with it.
By December, Satsuma was already selling assets to stay solvent: 579 BTC went for £40 million to ensure it had enough cash to repay noteholders who chose not to convert their debt into shares by year-end.
The unravelingThe company’s CFO departed in February 2026; the CEO followed in March. By April, shares had lost more than 99% of their June 2025 value—trading at fractions of a penny—and Pantera Capital, holding about 6.7% of Satsuma's stock, began pushing publicly for full liquidation.
The logic was direct: Satsuma's market cap—the total combined dollar value of all its shares—had fallen well below the value of the Bitcoin sitting on its own balance sheet, the point where owning the stock is strictly worse than owning the coin directly. A group of shareholders representing more than 20% of issued capital formally put the resolution to a vote.
The board split hard. Four of six directors opposed the liquidation, arguing Satsuma was still a viable listed Bitcoin vehicle. Two sided with shareholders pushing to wind down. Shareholders overruled the board majority by a wide margin.
The wind-down runs through a "B Share Scheme," a U.K. legal mechanism for distributing cash assets back to shareholders. Satsuma expects to return between £26.8 million and £30 million after estimated termination costs of £2.7 million—legal fees, severance, delisting charges, and run-off insurance.
Combined with the £40 million from the December BTC sale, total capital recovered lands around £66–£70 million against the £163.6 million originally raised. And because convertible note holders rank above common equity in any payout structure—meaning they get paid first—ordinary shareholders could walk away with considerably less than even those numbers suggest.
Satsuma is currently the second-largest U.K.-listed Bitcoin treasury company by holdings. The first is The Smarter Web Company, which holds 2,878 BTC and has not suggested it’s winding down.
U.K. High Court hearings to approve the capital return are set for August and September 2026. The delisting is expected mid-September, with shareholder payments due by late September.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
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.
Satsuma Technology shareholders have voted overwhelmingly to liquidate the company’s remaining Bitcoin holdings and steps to dissolve the business, marking a decisive end to the short-lived experiment of running a listed Bitcoin treasury on the London Stock Exchange.
More than 90% of votes cast at a recent meeting favored two key measures: selling all 668 BTC—currently valued at about $43.5 million—and canceling Satsuma’s listing on the London Stock Exchange. The decision passed despite opposition from a majority of the board, with four directors arguing that Satsuma could still serve as a viable publicly-traded Bitcoin investment vehicle.
Satsuma, based in the U.K., joins a wave of digital asset treasury (DAT) companies that have opted to wind down operations after a surge in the DAT trend earlier in 2025. The move comes as Satsuma’s stock performance and Bitcoin holdings diverged throughout the second half of the year, sharply reducing shareholder value.
Satsuma’s market capitalization fell far below the value of its Bitcoin assets on hand, creating a scenario where holding company shares appeared less attractive than owning BTC directly.
Origins and FundingThe company originally operated as TAO Alpha, a small artificial intelligence firm, before rebranding and recruiting Mark Moss as Chief Bitcoin Strategist in August 2025. Moss, an American Bitcoin advocate with over 700,000 YouTube followers, is recognized for guiding institutions interested in acquiring and managing Bitcoin as corporate treasury assets.
That same month, Satsuma secured £163.6 million ($218 million) through a convertible note offering led by ParaFi Capital and joined by Pantera Capital, Digital Currency Group, and Kraken. Notably, investors contributed 1,097 BTC in lieu of approximately $97 million in cash, reflecting strong enthusiasm for the Bitcoin treasury model at the time.
The stock climbed to a high of around £14 per share in June 2025, giving Satsuma a market capitalization near £66 million. However, as Bitcoin reached a record price of $126,000 in October 2025 before declining, Satsuma’s shares and broader crypto markets entered a prolonged downturn.
Mini dictionary: Convertible note – A form of short-term debt that can convert into equity, typically in connection with a future financing round. Investors can reclaim their money as cash or choose to become shareholders.
By December 2025, Satsuma was forced to sell 579 BTC for £40 million to meet its obligations to noteholders opting for repayment rather than equity conversion.
EventBTC SoldCash Raised (£)Shares ValueConvertible Notes Raised1,097 BTCPart of £163.6 millionPeak at £66 millionAsset Sale (Dec 2025)579 BTC£40 millionN/AFinal Liquidation668 BTCEstimated £26.8–£30 million after costsNear zero (shares plummeted)Market Rout and Leadership DeparturesThroughout early 2026, Satsuma’s financial and leadership stability deteriorated. The company’s CFO left in February, and the CEO resigned the following month. By April, Satsuma shares had lost over 99% of their June 2025 value and were trading at fractions of a penny. Pantera Capital, a U.S.-based investment firm that owns about 6.7% of the company, called publicly for a total wind-down, citing the discrepancy between the company’s Bitcoin assets and its market capitalization.
A shareholder group representing over 20% of issued capital initiated a formal vote for liquidation. The board split 4-2, with most directors pushing to continue operations, but the shareholder majority prevailed decisively.
Settlement and Remaining UK Bitcoin TreasuriesSatsuma will conduct the payout using a “B Share Scheme,” a UK legal framework used to distribute cash assets to shareholders. The company expects to return between £26.8 million and £30 million after deducting around £2.7 million in wind-down fees, including legal services, severance pay, delisting expenses, and insurance.
In total, Satsuma’s combined capital returns—including the December Bitcoin sale—amount to an estimated £66–£70 million, a significant shortfall compared to the £163.6 million originally raised. Since convertible note holders receive priority in the payout process, ordinary shareholders are likely to recover less than the final post-liquidation cash figure.
Satsuma ranks as the second-largest listed Bitcoin treasury company in the United Kingdom by holdings. The top position is held by The Smarter Web Company, which retains 2,878 BTC and has not publicly considered a wind-down.
Approval for Satsuma’s capital return plan now goes to U.K. High Court hearings scheduled for August and September 2026. The company is expected to delist from the LSE in mid-September, with shareholder payments following later that month.
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.
Ethereum Improvement Proposal (EIP) 8222 is set to adopt a STARK-based cryptographic scheme to enhance on-chain privacy for institutional stakers.
EIP-8222, an Ethereum Improvement Proposal, proposes to adopt a STARK-based cryptographic scheme to weaken the traceable correlation between staking deposit addresses, validators, and withdrawal credentials, with the goal of enhancing on-chain privacy for institutional stakers. Digital asset bank Sygnum Bank stated that this move could help attract more institutions to participate in staking, though it may also result in higher execution costs, slower asset operation processes, and additional compliance and audit requirements. The proposal remains in the discussion stage, and no launch timeline has been confirmed.
2 minutes ago
A crypto whale has placed a limit order for BTC, planning to go long with an intended entry price of around $66,000.
According to OnchainLens monitoring, a crypto whale deposited $3.71 million worth of USDC into Hyperliquid and placed a long limit order for BTC worth $2.68 million. The whale plans to go long on 40.58 BTC at a price range of $65,945 to $66,214. Current positions: 14x long positions on CL (US Oil), with a profit of $752,400; 11x long positions on BRENTOIL (Brent Oil), generating a profit of $361,700.
2 minutes ago
Ark Invest purchased 16,665 shares of Securitize on Tuesday, worth approximately $125,700.
According to market data from BIT (bit.com), Ark Invest, the firm led by Cathie Wood, purchased 16,665 shares of Securitize (ticker: SECZ), BlackRock’s real-world asset (RWA) platform, on Tuesday, for a total value of approximately $125,700. SECZ gained 13.9% that day, closing at $7.54.
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Trump endorses crypto ethics bill: Prohibits federal officials from issuing cryptocurrencies, with the U.S. Department of Justice serving as the lead enforcement agency.
According to multiple sources familiar with the matter, the crypto ethics provision signed by Trump will bar federal officials—including members of Congress, the president, and vice president—from issuing digital assets, and designate the U.S. Department of Justice (DOJ) as the primary enforcement authority for the provision, rather than state attorneys general. This arrangement could become a new point of contention in advancing the CLARITY Act, as Democrats have long argued that states should retain certain enforcement powers. Maryland Democratic Senator Angela Alsobrooks, one of the lead negotiators for the bill, issued a statement earlier Tuesday: “The DOJ enforcing ethics provisions? This is not a serious proposal. If the language stays this way, I will not support the bill.” Her concerns over enforcement powers specifically target Trump’s personal meme coin and his family’s firm, World Liberty Financial. The ethics provision has been the final sticking point for the CLARITY Act after months of legislative hurdles. Patrick Witt, a senior White House advisor for crypto affairs, revealed the details of the ethics language during an industry call on Tuesday afternoon. The White House has not confirmed the exact text, but an official attributed the potential impasse to Democrats in an email: “If Senate Democrats block this historic legislation after the administration has gone to great lengths to accommodate their concerns, industry players should recognize that it is Democrats holding up the bill, as they have never taken legislative outcomes seriously.” Currently, both sides continue negotiations based on the current draft, and it remains unclear whether an agreement can be reached before the Senate adjourns.
2 minutes ago
A crypto whale closed out a $35 million long position in MU, booking a profit of $1.71 million.
According to EmberCN's monitoring, a whale went long on Micron Technology worth $35 million yesterday, and closed the position six hours ago, locking in a profit of $1.71 million. The entry price was $918, and the exit price stood at $964.
According to market data from BIT (bit.com), U.S. space stock Rocket Lab (RKLB) closed up 5.14% and gained over 7% in after-hours trading. The company has secured a $266 million contract from the U.S. Air Force to launch 12 suborbital vehicles, with an optional additional 6 launches. The missions will be conducted in Alaska and are scheduled for completion by the end of 2028. Separately, SpaceX rose more than 3%, ending its 7-day consecutive losing streak, and added another 1.3% in after-hours trading. SpaceX will release its Q2 2026 earnings report and hold a live earnings webcast on August 4, with the market currently focused on Starship’s next test flight.
Bitcoin has risen 2.2% to $66,681, and XRP has gained 3.6% to $1.152 as both assets test chart resistance while Iran claims it struck Amazon’s data infrastructure in Bahrain.
Summary
Bitcoin approached $67,257 Fibonacci resistance as bullish momentum strengthened on its daily chart. XRP broke above a symmetrical triangle, opening a possible move toward $1.30. Iran’s unverified Amazon strike claim added geopolitical risk to both crypto rallies. IRNA, Iran’s state news agency, has reported that the Islamic Revolutionary Guard Corps used several cruise missiles to attack what it described as Amazon’s central data infrastructure in Bahrain on July 21. The IRGC claimed the facility was destroyed, although Amazon and Bahraini authorities had not confirmed the reported damage at the time of writing.
As part of the ongoing 24th wave of Operation Nasr-2, and in retaliation for the US recent attack on civilian sites in Darkhoveyn, the IRGC Aerospace Force launched multiple cruise missiles against Amazon’s central data infrastructure in Bahrain, completely destroying it.
— IRNA News Agency ☫ (@IrnaEnglish) July 21, 2026 According to the IRGC, the operation came in response to a US attack on the construction site of Iran’s Darkhovin nuclear power plant. The Iranian force has also threatened 18 American technology companies, including Microsoft, Intel, Cisco and Google, over their alleged links to US military and intelligence activity.
Amazon Web Services facilities in Bahrain and the United Arab Emirates have already faced attacks during the conflict. In April, an Amazon cloud facility in Bahrain had sustained damage in an Iranian attack, while service interruptions affected AWS infrastructure elsewhere in the region.
Investors reacted cautiously because the latest IRGC account lacked independent confirmation. Amazon shares had closed Monday 1.12% higher at $249.99, but US stock futures later surrendered part of their earlier gains as reports of the alleged attack circulated.
Military action continued while Pakistan pursued another diplomatic effort. The US Central Command had completed a new series of attacks on Iran, extending the American campaign to a tenth consecutive night.
CENTCOM listed Iranian command centers, maritime assets, missile and drone launch sites, and air-defense systems among the targets. The US military stated that the strikes were intended to reduce Iran’s ability to attack commercial vessels passing through the Strait of Hormuz.
At the same time, the Associated Press reported that Pakistan was trying to restart ceasefire negotiations. Those efforts continued as Iran attacked targets in Bahrain, Kuwait and Jordan and fighting disrupted commercial traffic through the Strait of Hormuz.
Bitcoin recovery runs into Fibonacci resistance Bitcoin (BTC) rose from a daily low of $65,149 to an intraday high of $66,956 on Binance, according to the supplied TradingView chart. The move placed BTC directly below the 61.8% Fibonacci retracement at $67,257, calculated from the decline between $82,485 and $57,845.
Bitcoin daily price chart — July 21 | Source: crypto.news TradingView’s daily setup identifies $67,257 as the immediate technical barrier. A daily close above it would expose the 50% retracement at $70,165, while another advance could bring the 38.2% level at $73,073 into view.
Failure to clear the 61.8% line would leave Bitcoin inside the recovery range formed since its late-June low. The same chart places the closest marked downside level at $63,118, which corresponds with the 78.6% Fibonacci retracement and overlaps with recent consolidation.
Momentum has improved alongside the rebound. Bitcoin’s relative strength index stands at 61.91, above its moving average of 53.05 but still below the overbought threshold of 70, according to TradingView.
The daily MACD also remains positive, with the MACD line at 508.46, the signal line at 406.09 and the histogram at 102.37. TradingView’s readings show bullish momentum, although the small gap between the two lines means BTC still requires follow-through above $67,257 to strengthen the signal.
Bitcoin’s latest candle opened at $65,255 and remained positive when the chart was captured. However, the unfinished daily candle means the attempted break cannot be confirmed until the session closes.
XRP breakout points toward $1.30 XRP (XRP) price has moved above the descending boundary of a symmetrical triangle on its Binance daily chart. TradingView data shows the token advancing from a session low of $1.111 to an intraday high of $1.158 after several weeks of contracting price action.
XRP daily price chart — July 21 | Source: crypto.news The pattern developed between falling resistance from the mid-June swing high and ascending support extending from the late-June low. XRP’s move above the upper trendline indicates a breakout attempt, although confirmation still depends on a daily close outside the formation.
Based on the measured height displayed on the supplied chart, the triangle carries a projected move of about $0.2845. Applying that distance to the breakout area places the first marked target near $1.30.
A second resistance line appears at $1.374, which acted as a trading area before XRP’s sharp decline in early June. The chart therefore shows $1.30 as the first target and $1.374 as the next barrier if buyers maintain control.
TradingView’s Aroon indicator supports the bullish attempt, with Aroon Up at 100% and Aroon Down at 42.86%. Chaikin Money Flow has also climbed to 0.08, indicating that buying pressure has returned during the breakout.
A move back below the triangle’s upper boundary near $1.10 would weaken the pattern and place its rising support at risk. Sustained trading above the breakout line would preserve the chart’s path toward $1.30, though the unverified Amazon strike claim and continued US-Iran attacks could increase volatility across both XRP and Bitcoin.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
HomeCryptoMARKETSFarmers & Merchants Investment Inc. discloses major crypto holdings.
Farmers & Merchants Investment Inc., a bank holding company with assets under management (AUM) worth $4.1 billion, disclosed exposure to Bitcoin (BTC), XRP, and Robinhood Markets (Nasdaq: HOOD).
While Bitcoin is the world's largest cryptocurrency, XRP is the sixth-largest cryptocurrency.
Robinhood is a Menlo Park, California-based e-trading brokerage platform that is best-known for its stock, cryptocurrency, and tokenized stock offerings.
Farmers & Merchants Investment Inc. revealed in a 13F filing with the U.S. Securities and Exchange Commission (SEC) that the bank holding company holds stakes in BlackRock's iShares Bitcoin Trust ETF (Nasdaq: IBIT), Bitwise XRP ETF (NYSE Arca: XRP), and Robinhood.
IBIT: $8,689XRP: $27,681HOOD: $47,633Scroll to Continue
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Trending on TheStreet Roundtable:Bitcoin miner stock surges on $9.8 billion AI dealAnalyst cuts crypto firm's price target after 25% layoffsXXI stock plunges 18% after CEO's abrupt exitTracking long-term price actionBlackRock's IBIT fund was launched in January 2024 following the SEC's approval and is the biggest spot ETF in the U.S. to offer Bitcoin exposure. The fund, which hit the all-time high (ATH) of $71.82 on Oct. 6, 2025, was trading around 50% lower at $37.53 at the time of writing.
The Bitwise XRP fund was launched in November 2025, following the success of multiple crypto ETFs. The fund, which hit the ATH of $26.88 on Jan. 6, 2026, was trading more than 50% lower at $12.92.
It was in July 2021 that Robinhood went public. In September last year, the stock joined the coveted S&P 500 index. The HOOD stock, which hit the ATH of $153.86 on Oct. 6, 2025, was trading 30% lower at $106.69.
Farmers & Merchants Investment Inc.'s latest disclosure only shows how much traditional finance (TradFi) firms have come to embrace digital assets.
XRP price moved higher as renewed progress on the CLARITY Act improved confidence across the cryptocurrency market.
Bitcoin price gained 2% to $66,310, helping major digital assets extend their recovery during Tuesday’s session. The total crypto market value rose 1.25% to $2.25 trillion within the latest 24-hour period.
The sentiment was reinforced when the White House was reported to have accepted an ethics package as attached to the legislation.
The agreement eliminated a significant barrier to the expansion of United States crypto regulation. XRP price could target the $2 level if buying pressure continues.
White House Reaches Ethics Deal on CLARITY Act The White House has reportedly reached an agreement on ethics provisions connected to the CLARITY Act.
Journalist Eleanor Terrett disclosed that officials exchanged new verbiage with top Republicans in the Senate. The progress could eliminate the significant barrier that slowed down the negotiation.
🇺🇸🚨 CLARITY UPDATE 🚨🇺🇸
According to Eleanor Terrett, the White House has reached an agreement on the ethics package tied to the CLARITY Act and has already shared the updated text with key Senate Republicans.
The updated bill could be released very soon. ⏳ pic.twitter.com/CzTy3SNutJ
— John Squire (@TheCryptoSquire) July 21, 2026
The updated package is undergoing review by lawmakers before the bill goes through the legislative process again. The revised text can be published any time in the future, but there is no publication date mentioned by officials.
The CLARITY Act seeks to establish clearer federal rules for digital assets. It continues to be a closely monitored development in the cryptocurrency sector.
XRP ETFs Attract $2.49 Million as Total Inflows Reach $1.49 Billion XRP exchange-traded funds recorded $2.49 million in daily net inflows as of July 20, led entirely by Bitwise. The fund also had the biggest total assets of 320.82 million assets, the biggest amount of listed XRP products.
Source: Sosovalue data The cumulative net inflows of all funds were at $1.49 billion. The combined net assets were 1.02 billion, which is 1.46% of the market capitalization of XRP. The total trading value amounted to 11.67 million and Canary, Franklin, 21Shares, and Grayscale had no new daily inflows. The daily price increases were also made in all the listed products.
XRP Price Prediction: Can Bulls Push XRP Toward $2? As of the reporting, the XRP price surged to $1.16, extending gains inside a rising four-hour channel. Buyers forced the XRP past the $1.12 resistance, making the level an immediate support.
The most recent action puts the next significant upside target of $1.20. A long term breakout of above $1.20 might open the way to $1.25. And if bulls mount more pressure, the XRP price could surge to $1.80-$1.90 in the near term
Momentum indicators however indicate that the rally can be short-term cooled. The RSI stood at 78.46, which means that XRP was squarely in the overbought region. Meanwhile, the MACD line remains above its signal line, supporting continued bullish momentum.
Source: XRP/USDT 4-hour chart: TradingView The pullback might re-test $1.12 then buyers will make another move forward. Failure to hold that level may expose XRP price to $1.07 support. A close under $1.07 would negatively affect the structure of the bullishness and make the downward risks more risky.
The Russian State Duma has advanced new legislation aimed at regulating major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP, officially classifying them as property. The proposed law would allow these digital assets to be traded commercially among businesses, while restricting retail investors to an annual cap of 300,000 rubles, approximately $3,800.
Retail limits and commercial use definedIf enacted, the new regulation would enable merchants to accept selected cryptocurrencies for commercial transactions. However, private citizens would remain prohibited from using Bitcoin, Ethereum, Solana, or XRP for in-store purchases or online payments for goods and services. Regulators reportedly view major-cap crypto primarily as investment assets or as payment vehicles for cross-border trade, rather than for retail consumption in the domestic economy.
Under the measures, Russian citizens would only be permitted to invest in or use these cryptocurrencies in strictly regulated ways, while businesses could leverage them for commercial transactions, especially in international contexts.
The restrictions reflect Russia’s ongoing preference for maintaining the ruble as the exclusive means of payment within its borders, while seeking greater flexibility for international settlements amid continuing Western sanctions.
New tiered investor system and reporting rulesThe bill, titled “On Digital Currency and Digital Rights,” is scheduled for completion by July 22, 2026. It introduces a tiered system for retail investors, who must pass a knowledge-based assessment to access higher limits. Successful participants can reportedly purchase up to 3 million rubles in crypto and transfer up to 1 million rubles abroad each year.
In 2024, Russian President Vladimir Putin approved a law legalizing crypto mining, indicating continued regulatory experimentation rather than an outright ban in the sector.
The latest draft of the legislation also proposes easing certain disclosure requirements. Retail holders would no longer need to report individual wallet addresses; instead, regulatory focus would shift to aggregate wallet balances and transaction volumes.
Despite these changes, the Bank of Russia will continue overseeing all cryptocurrency transactions, with the legislation expected to take effect on September 1, 2026. The country’s approach mirrors aspects of the SWIFT international payment system, aiming to facilitate external trade while maintaining oversight.
Mini dictionary: State Duma – The lower house of the Federal Assembly of Russia (the Russian parliament) responsible for drafting and passing legislation.
CategoryCommercial UseRetail LimitPermitted cryptocurrenciesBTC, ETH, SOL, XRPBTC, ETH, SOL, XRPAnnual capNo cap for merchants300,000 rubles (~$3,800)In-store/online paymentsAllowed for merchants (B2B)Not permitted for individualsGlobal context and parallel approachesRussia has increasingly used digital assets to circumvent Western sanctions, particularly following the disconnection from major European financial networks in 2022. This year, significant European financial institutions introduced multi-chain ledgers for cross-border payments, reflecting a broader move toward digital solutions for global finance.
Japan recently finalized its digital asset regulatory framework, reclassifying Bitcoin, Ethereum, and XRP as financial instruments. This move aligns with the growing global trend of establishing formal oversight for digital assets.
Meanwhile, the United States continues to consider new regulations. The CLARITY Act, which could see adoption by August 2026, is under discussion amid broader ethics reforms in the White House. The U.S. market sees widespread use of crypto both as investment and for transferring money among the public. Notably, American stablecoins such as USDC and RLUSD play a key role in tokenization and digital finance.
Unlike Russia, the United States allows wider use of digital assets for everyday transactions, and American stablecoins remain prominent in domestic and international markets.
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.
Two key divergences show why Ethereum’s [ETH] outperformance against Bitcoin [BTC] may only be beginning.
Notably, Lookonchain flagged consecutive whale accumulation, with one whale withdrawing over 74,000 ETH and another more than 10,000 ETH. The key detail? Both whales staked 100% of the ETH they accumulated, marking a clear divergence from a typical whale accumulation setup. Simply put, instead of leaving the ETH idle, they’re locking it into staking, reducing the liquid supply while signaling long-term conviction.
Ethereum’s staking data only reinforces that trend. As the chart below shows, the validator exit queue currently sits at zero, while the entry queue has climbed to 2.4 million ETH. At the same time, total staked ETH has climbed to a record 40.8 million, with 33.5% of the total ETH supply now sitting in staking. To put that into perspective, users have added nearly 600,000 ETH to staking in less than ten days.
Source: ValidatorQueue In that context, these two whales staking 100% of their newly accumulated ETH isn’t an isolated event.
Instead, it aligns with a broader trend of supply being locked away, further tightening liquid ETH as staking demand continues to grow. And the impact is starting to show on the technical side.
On the daily chart, the rise in ETH staking flows has lined up with ETH/BTC breaking above the 0.025 resistance level, showing that stronger supply dynamics are beginning to translate into better Ethereum performance against Bitcoin.
Now, looking at the second divergence. While staking flows highlight long-term conviction, Ethereum’s DeFi ecosystem adds another important layer by shaping liquidity and on-chain activity across the network, creating another tailwind for Ethereum’s performance against Bitcoin.
Ethereum accumulation signals a bigger move Random accumulation doesn’t really mean much on its own.
However, Ethereum’s whale accumulation is telling a much bigger story. While staking flows support long-term conviction, combining that with strong DeFi flows adds another layer of strength to Ethereum’s ecosystem. Currently, this combination could be highlighting ETH’s underlying demand.
As the chart below shows, Wrapped Ethereum (WETH) recorded 113k whale transactions above $100k over the past week, marking its highest level since May 2021. This shows that large players are becoming more active on-chain. With Ethereum’s TVL also increasing by over $5 billion in less than ten days, the data points to rising liquidity and stronger activity across the Ethereum ecosystem.
Source: Santiment And the impact is starting to show.
On the technical side, Ethereum just posted its strongest weekly close against Bitcoin in eleven weeks. With the ETH/BTC ratio now approaching the key 0.03 resistance zone, the ongoing supply squeeze is adding more strength to the breakout setup, setting the stage for the next leg of ETH’s outperformance against BTC.
Final Summary Whales are buying ETH and locking it into staking, reducing available supply while DeFi activity continues to grow. ETH/BTC is showing strength, with the ratio nearing key resistance as supply tightening supports a potential breakout.
CRCL, BMNR, and MSTR stock prices have seen a surge over the past 24 hours following the crypto market surge
Bitcoin price rose to over $66,000, and Ethereum reached over $1,900 and XRP price rose to over $1.14.
The total crypto market cap increased 2.08% to $2.26 trillion within 24 hours.
The investor mood was lifted by new steps toward more definitive United States digital asset regulation. CRCL, BMNR, and MSTR stocks gained during Tuesday’s session as cryptocurrency prices strengthened across the market.
The anticipations about the CLARITY Act also favored firms that had high exposure to cryptocurrency markets.
What’s Next For CRCL, BMNR and MSTR Stock Price Ahead of FOMC Meeting The Federal Reserve will meet on July 28 and July 29, with markets expecting unchanged interest rates. Investors will closely watch Chairman Kevin Warsh’s comments for guidance on inflation, growth, and future policy decisions.
FedWatch data Bitcoin and crypto-related equities could be backed by a balanced message, such as CRCL, BMNR, and MSTR. Nevertheless, the hawkish cues can put pressure on the digital assets and lead to profit-taking in these stocks. The short-term trend will likely be determined by whether Bitcoin will remain above $66,000 following the meeting.
Circle Internet Group (CRCL) CRCL stock jumped 6.91% to $69.97 on Tuesday, strengthening its short-term outlook before the upcoming FOMC meeting. The stock shot up on opening, and was momentarily touching the $72.50 resistance area.
The breakout also saw a significant increase in trading volume, which justified a high level of buying interest at the start of the market. The price however, consolidated around $70 later on when the early momentum faded.
CRCL stock A long-run above $70 would lead to the reopening of the route to $72.50. Additional gains can be aimed at $74 should buyers retain control following the Fed decision.
The nearest support is around $67.50, where buyers have supported the trend in the past. Further pullback might reveal $65.45, undermining the bullish arrangement. The volatility can be high during the time of the policy announcement.
Bitmine Immersion Technologies, Inc. (BMNR) BMNR stock rose at $17.02, with a share gain of 2.35%, as investors evaluated the growing Ethereum treasury of BitMine prior to the FOMC meeting. BitMine purchased 7,430 ETH in the week, increasing total holdings to 5.78 million tokens. The company has staked 4.92 million ETH, representing about 85% of its holdings.
It also repurchased 5.5 million shares at an average price of $15.62. Cumulative crypto, cash, and investments were $11.5 billion.
BitMine Adds 7,430 ETH, Holdings Reach 5.78M ETH
BitMine said it acquired 7,430 ETH over the past week, bringing total holdings to 5,777,468 ETH, or about 4.8% of Ethereum’s supply. The company has staked 4.92 million ETH, representing roughly 85% of its holdings, and also… pic.twitter.com/5fBRTYIuar
— Wu Blockchain (@WuBlockchain) July 20, 2026
Technically, BMNR has a resistance of about $17 and $17.20. Breakout may be at $18. The support is about $16.90, then $16.80 and $16.63 in the event of a rise in selling pressure. The FOMC action can decide whether momentum will further build up.
Strategy Inc (MSTR) MSTR stock climbed 4% to $102.39 on Tuesday after Strategy reported a stronger cash reserve position. Shares gained $4.57 as buyers defended the important $100 level during active trading.
Michael Saylor said Strategy increased its dollar reserves by $225 million. The company now holds 843,775 Bitcoin and $3.2 billion in cash reserves.
Strategy has increased its USD Reserve by $225 million. As of 7/19/2026, we hodl ₿843,775 in our BTC Reserve and $3.2 billion in our USD Reserve. $MSTR $STRC https://t.co/sci7bZHzsy
— Michael Saylor (@saylor) July 20, 2026
Technical momentum is still in a positive state as long as the stock is above $100. A break out over $105 may hit $107 then clear a road to $110 this week. But a drop to even less than $100 can also reveal support at 97.82. Further downward movement would break the existing bullish pattern and decrease the short-term upward potential.
Bitcoin’s move above $66,000 has lifted CRCL, BMNR and MSTR by as much as 8.6% as investors position for the Federal Reserve’s July meeting.
Summary
Bitcoin’s move above $66,000 lifted CRCL, BMNR and MSTR during Tuesday’s trading. CRCL and BMNR broke descending resistance, while MSTR reclaimed the key $100 level. The Federal Reserve’s July decision could determine whether the three stock rallies continue. According to data from crypto.news, Bitcoin climbed past $66,000 on July 21, while Ethereum traded above $1,900 and XRP recovered beyond $1.14. The combined value of all cryptocurrencies increased 2.08% within 24 hours to reach $2.26 trillion.
Stocks tied to digital assets followed the market higher during Tuesday’s session. Circle Internet Group gained 8.6%, BitMine Immersion Technologies advanced 3.61%, and Strategy rose 4.22%, according to the daily TradingView charts supplied with the report.
Investor interest also increased as U.S. lawmakers moved closer to establishing clearer rules for digital assets. As such, expectations surrounding the CLARITY Act supported companies with direct exposure to cryptocurrency prices, stablecoin activity and corporate crypto holdings.
Crypto strength has lifted all three stocks Circle Internet Group recorded the largest gain among the three companies, with CRCL closing at $71.08 after opening at $68.94. TradingView data showed that the stock reached an intraday high of $72.68 and a low of $68.65 before ending the session 8.6% higher.
CRCL also moved above the upper boundary of a descending channel that had controlled its price since early June. The supplied daily chart places the former channel resistance near $65, making that level the first area buyers may need to defend if the breakout faces a retest.
Circle daily price chart — July 21 | Source: TradingView Momentum indicators support the recovery, although money flow remains a concern. CRCL’s Aroon Up reading reached 85.71%, while Aroon Down fell to zero, which the TradingView chart identifies as stronger upward momentum; however, the Chaikin Money Flow reading remained negative at -0.25, showing that buying pressure has not yet produced sustained capital inflows.
Based on the visible chart structure, the next resistance range sits between $75 and $80. A move back below the broken channel boundary near $65 would weaken the breakout, while the recent base around $60 provides the next visible support area.
BitMine Immersion Technologies closed at $17.23, rising 3.61% after trading between $16.69 and $17.24. The advance came as investors assessed BitMine’s latest Ethereum purchases and its share-repurchase program ahead of the Fed meeting.
BitMine daily price chart — July 21 | Source: TradingView According to the company figures cited in the report, BitMine acquired another 7,430 ETH during the week, raising its holdings to 5.78 million tokens. The company has staked 4.92 million ETH, equal to about 85% of its Ethereum treasury, while its combined crypto assets, cash, and investments stood at $11.5 billion.
BitMine also repurchased 5.5 million shares at an average price of $15.62, according to the same company update. Its daily chart showed BMNR breaking above a descending trendline that had capped the stock since May, while the price also crossed the Supertrend level at $16.53.
BMNR’s Relative Strength Index rose to 58.71, compared with its signal average of 47.17, according to TradingView. Since the RSI remains below the 70 overbought threshold, the indicator leaves room for an advance toward the visible $18 resistance, followed by the previous consolidation area near $20; a close below $16.53 would weaken the reversal setup, with additional support shown at $13.83.
Strategy shares ended Tuesday at $101.95 after rising 4.22%, TradingView data showed. MSTR traded as high as $104.60 and briefly fell to $99.95, but buyers returned around the psychologically important $100 level before the close.
Michael Saylor disclosed that Strategy increased its U.S. dollar reserves by $225 million, bringing the company’s cash reserve to $3.2 billion. The report also placed Strategy’s Bitcoin holdings at 843,775 BTC, keeping MSTR closely exposed to changes in the cryptocurrency’s market value.
Fed guidance will test the new breakouts MSTR has reclaimed the Bollinger Bands midpoint at $94.79 and is approaching the upper band at $105.36, according to the supplied daily chart. A confirmed move above that upper boundary could open the area around $110, while a rejection would keep $100 and the middle band near $95 as the first support levels.
MSTR daily price chart — July 21 | Source: TradingView Despite Tuesday’s recovery, MSTR’s Average Directional Index stood at 18.77. TradingView’s indicator reading shows that the stock does not yet have a strong directional trend, leaving the breakout vulnerable if Bitcoin loses momentum or the Fed delivers a more restrictive policy message.
The Federal Reserve is scheduled to meet on July 28 and 29, with markets expecting policymakers to leave interest rates unchanged, according to the report. Investors will instead examine Chair Kevin Warsh’s comments for clues about inflation, economic growth and the timing of future policy changes.
A balanced policy message could help Bitcoin and crypto-linked equities preserve Tuesday’s gains. More hawkish guidance could encourage profit-taking, placing CRCL’s channel breakout, BMNR’s Supertrend reversal and MSTR’s recovery above $100 under immediate pressure.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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.
In brief Jack Mallers stepped down as CEO of Twenty One Capital, announcing his return to Bitcoin payments firm Strike—which will remain an independent company. Tether's plan to merge Twenty One, Strike, and Elektron Energy into a single publicly traded Bitcoin giant has been abandoned. XXI shares fell nearly 18% on Tuesday, extending a decline that has taken the stock down more than 80% from its highs of last year. Jack Mallers has stepped down as CEO of Twenty One Capital, and investors didn't take it well.
Shares of the Bitcoin treasury company—a publicly traded firm that holds Bitcoin on its balance sheet, letting regular investors gain exposure to the cryptocurrency without buying it directly—dropped nearly 15% on Tuesday.
Mallers co-founded Twenty One alongside Tether—the issuer of USDT, the world's most widely used dollar-pegged stablecoin (a digital token that holds a fixed value of one dollar and functions as the backbone of crypto trading)—and listed the company on the New York Stock Exchange in December 2025 through a SPAC merger. A SPAC, or special purpose acquisition company, is a blank check shell firm created specifically to take other companies public faster than a traditional IPO allows.
Twenty One still holds 43,514 BTC. At current prices, that balance sheet is worth more than $4 billion, ranking it second among all public companies for Bitcoin holdings, just behind Michael Saylor's Strategy. Strategy is the company that effectively pioneered the corporate Bitcoin treasury playbook in 2020—borrowing money to buy Bitcoin at scale and daring anyone to tell them it was a bad idea.
The merger that never happenedMallers' exit comes packaged with worse news. Tether's plan to merge three Bitcoin businesses into a single publicly traded entity has officially collapsed, per Bloomberg. The proposed combination would have united Twenty One's treasury operations, Strike's Bitcoin payments and lending platform (which operates in more than 100 countries), and Elektron Energy's mining infrastructure under one publicly listed company.
Tether first pitched the idea in April 2026 at the Bitcoin Conference, and Mallers endorsed it publicly. As Decrypt reported, the deal was billed as a move to create "the premier listed Bitcoin company in the world," combining mining, payments, and treasury management in one stock. Mallers was set to lead the combined entity; Elektron Energy founder Raphael Zagury was slated to become president.
That structure is done. Strike will remain a standalone company. Twenty One and Elektron are still in early discussions about a potential two-way deal, but no agreement has been confirmed or guaranteed.
Mallers kept it brief on X. "This wasn't an easy decision, but it was the right one," he wrote. "My life's work remains Bitcoin. My Bitcoin company is Strike. The work continues."
I've decided to step down as CEO of Twenty One.
This wasn't an easy decision, but it was the right one. This experience brought tremendous clarity about who I am and what I want to build.
My life's work remains Bitcoin. My Bitcoin company is @Strike.
The work continues. pic.twitter.com/L70YFYPt11
— Jack Mallers (@jackmallers) July 21, 2026
Raphael Zagury—founder of Elektron Energy and a former managing director at Deutsche Bank and Merrill Lynch and a vice president at Goldman Sachs—has been named the new CEO. His message to investors sounds nothing like Mallers'.
Where Mallers built Twenty One’s identity around aggressive Bitcoin accumulation, Zagury is promising institutional discipline. Per Tether's official announcement, Zagury said Twenty One "should be measured by the cash flow it generates and the discipline with which it allocates capital."
Bitcoin treasury companies as a category have faced growing skepticism since their initial surge. Twenty One company shares hit a 52-week high of $31.51 before sliding to a low of $4.81. In May 2026, Tether moved to consolidate control by buying out SoftBank's roughly 25% stake—a position the Japanese investment giant had originally paid $999.3 million to acquire.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Jack Mallers stepped down as CEO of Twenty One Capital, announcing his return to Bitcoin payments firm Strike—which will remain an independent company. Tether's plan to merge Twenty One, Strike, and Elektron Energy into a single publicly traded Bitcoin giant has been abandoned. XXI shares fell nearly 18% on Tuesday, extending a decline that has taken the stock down more than 80% from its highs of last year. Jack Mallers has stepped down as CEO of Twenty One Capital, and investors didn't take it well.
Shares of the Bitcoin treasury company—a publicly traded firm that holds Bitcoin on its balance sheet, letting regular investors gain exposure to the cryptocurrency without buying it directly—dropped nearly 15% on Tuesday.
Mallers co-founded Twenty One alongside Tether—the issuer of USDT, the world's most widely used dollar-pegged stablecoin (a digital token that holds a fixed value of one dollar and functions as the backbone of crypto trading)—and listed the company on the New York Stock Exchange in December 2025 through a SPAC merger. A SPAC, or special purpose acquisition company, is a blank check shell firm created specifically to take other companies public faster than a traditional IPO allows.
Twenty One still holds 43,514 BTC. At current prices, that balance sheet is worth more than $4 billion, ranking it second among all public companies for Bitcoin holdings, just behind Michael Saylor's Strategy. Strategy is the company that effectively pioneered the corporate Bitcoin treasury playbook in 2020—borrowing money to buy Bitcoin at scale and daring anyone to tell them it was a bad idea.
The merger that never happenedMallers' exit comes packaged with worse news. Tether's plan to merge three Bitcoin businesses into a single publicly traded entity has officially collapsed, per Bloomberg. The proposed combination would have united Twenty One's treasury operations, Strike's Bitcoin payments and lending platform (which operates in more than 100 countries), and Elektron Energy's mining infrastructure under one publicly listed company.
Tether first pitched the idea in April 2026 at the Bitcoin Conference, and Mallers endorsed it publicly. As Decrypt reported, the deal was billed as a move to create "the premier listed Bitcoin company in the world," combining mining, payments, and treasury management in one stock. Mallers was set to lead the combined entity; Elektron Energy founder Raphael Zagury was slated to become president.
That structure is done. Strike will remain a standalone company. Twenty One and Elektron are still in early discussions about a potential two-way deal, but no agreement has been confirmed or guaranteed.
Mallers kept it brief on X. "This wasn't an easy decision, but it was the right one," he wrote. "My life's work remains Bitcoin. My Bitcoin company is Strike. The work continues."
I've decided to step down as CEO of Twenty One.
This wasn't an easy decision, but it was the right one. This experience brought tremendous clarity about who I am and what I want to build.
My life's work remains Bitcoin. My Bitcoin company is @Strike.
The work continues. pic.twitter.com/L70YFYPt11
— Jack Mallers (@jackmallers) July 21, 2026
Raphael Zagury—founder of Elektron Energy and a former managing director at Deutsche Bank and Merrill Lynch and a vice president at Goldman Sachs—has been named the new CEO. His message to investors sounds nothing like Mallers'.
Where Mallers built Twenty One’s identity around aggressive Bitcoin accumulation, Zagury is promising institutional discipline. Per Tether's official announcement, Zagury said Twenty One "should be measured by the cash flow it generates and the discipline with which it allocates capital."
Bitcoin treasury companies as a category have faced growing skepticism since their initial surge. Twenty One company shares hit a 52-week high of $31.51 before sliding to a low of $4.81. In May 2026, Tether moved to consolidate control by buying out SoftBank's roughly 25% stake—a position the Japanese investment giant had originally paid $999.3 million to acquire.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
After a decline that dominated the majority of the year, XRP is alive again. On the daily chart, the asset, which is currently trading at $1.13, has clearly formed an ascending triangle. This pattern is frequently linked to bullish continuation or reversal attempts.
The structure indicates that buying pressure is steadily building even though the breakout has not yet happened. The sequence of higher lows that have developed throughout July is the most prominent aspect of XRP's present configuration. There is a rising support line beneath price action because buyers have been drawn to each pullback earlier than the last.
XRP/USDT Chart by TradingViewConcurrently, XRP is still testing resistance from a group of moving averages that are directly above it. Usually, a powerful directional movement resolves this compression between support and resistance. Near the 50-day EMA at $1.17 is the first significant barrier. The focus would shift to the 100-day EMA around $1.24 if a close above that level were successful.
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After that, bulls would move on to the psychologically significant $1.30 area. Additionally, momentum indicators are improving. After months of weakness, the RSI has risen above the neutral 50 level, indicating a change in sentiment. However, trading volume is still low, suggesting that the market is still awaiting confirmation before making large capital commitments.
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While XRP is trading below its longer-term moving averages, especially the 200-day EMA around $1.44, the overall trend is still negative. However, this is one of the strongest price structures seen in a few months.
XRP may enter a much longer recovery phase if buyers are able to overcome the current resistance. On the other hand, the asset would be vulnerable to another decline toward the $1.05–$1.00 support zone if the rising trendline support were lost, invalidating the bullish setup.
Cardano's recovery potentialOne of Cardano's longest stretches of persistent weakness is slowly coming to an end. ADA, which is currently trading at $0.175, has spent the past few weeks regaining important short-term moving averages while laying a foundation above its June lows. The technical picture has significantly improved, even though the asset is still far below significant long-term resistance levels.
ADA's breakout from the horizontal consolidation range that dominated price action for the majority of the spring is among the most significant developments. Before eventually drawing enough buying pressure to move higher, the asset moved sideways for months in the $0.15-$0.16 area. A higher low structure was established by that breakout, which also turned the momentum back to buyers.
ADA/USDT Chart by TradingViewFollowing the initial recovery rally, price action has stabilized thanks to the support provided by the 20-day and 50-day EMAs. In the meantime, the RSI has risen above 56, suggesting that bullish momentum is getting stronger without getting close to overbought territory. If market conditions continue to be favorable, this allows for further upside. The next important level is located around $0.20, close to the 100-day EMA.
This region denotes a significant psychological threshold as well as technical resistance. ADA's outlook would be greatly enhanced by a clear move above $0.20, which might also lead to a wider advance toward the $0.22-$0.25 range.
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Additionally, volume activity has improved since the first half of the year, indicating a resurgence of market participation. Even though the long-term trend is still improving, ADA seems to be building a foundation for a more significant reversal later in the year.
The $0.16 support zone is still crucial for the time being. The current recovery will continue as long as Cardano stays above that area, and there is a high likelihood that it will continue to rise toward higher resistance levels.
Stellar's clear recoveryAmong the major altcoins, Stellar is quietly building up one of the cleanest recovery structures in a while. After rising from its June lows, the asset has been consolidating above important moving averages for the past few weeks, currently trading close to $0.19. The technical picture has significantly improved since the first half of the year, even though the overall trend is still cautious.
The convergence of the 20-, 50-, and 100-day EMAs around current price levels is one of the most significant developments. This compression frequently indicates an impending increase in volatility, and XLM seems to be getting close to that turning point. Despite multiple attempts by sellers to drive it lower, the asset has consistently maintained the $0.18 support zone. Market participants are once again paying attention to Stellar, as evidenced by the enormous volume spikes in June.
XLM/USDT Chart by TradingViewEven though those rallies were initially rejected, the pullbacks that followed did not result in lower lows, indicating that buyers are progressively absorbing supply. This narrative is supported by momentum indicators. Before overbought conditions become a concern, the RSI is holding close to 52, providing ample opportunity for additional upside.
The next targets appear close to $0.23 and $0.25, where prior rallies stalled, if bulls can push XLM above the $0.20–$0.21 resistance zone. The key level is currently $0.18. By staying above it, the recovery is maintained and the potential for a more significant trend reversal is preserved.
Any significant breakout attempt would be postponed if there were a breakdown below that support, which would probably draw attention back to the $0.16 region.
Bitcoin is reboundingThe top cryptocurrency, Bitcoin, is currently trading at about $66,300 as it continues to rebound from its severe decline in June. After being under pressure for weeks, Bitcoin has finally started to establish a sequence of higher lows, indicating that buyers are progressively taking back control of the market.
BTC/USDT Chart by TradingViewBitcoin's market structure has significantly improved as a result of the recent recovery, which has propelled it back above both its short- and medium-term moving averages. But the biggest obstacle is still directly above. Throughout the recent decline, the 100-day EMA, which is now close to $68,000, has frequently halted attempts at upside.
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This means that in the near future, the $68,000 area will be the crucial battlefield for Bitcoin. A clear breakout above it could pave the way for the $72,000-$75,000 range and greatly bolster bullish momentum. After months of decline, such a move would also put BTC back in a stronger medium-term trend.
The RSI has risen above 60, indicating a rise in buying pressure without entering overheated territory. Additionally, volume has stabilized, indicating that the panic selling that occurred in June has mostly stopped.
Support between $63,000 and $64,000 is still crucial on the downside. The current recovery is sustained as long as Bitcoin stays above that range. Whether Bitcoin can reclaim the $68,000 mark and demonstrate that a more sustainable advance is in progress is currently the market's main concern.
Bitcoin Provides Defensive ExposureBlue Macellari, T. Rowe Price’s head of digital assets and the ETF’s lead portfolio manager, said the fund reflects the company’s longstanding emphasis on active management and fundamental research.
"We were never going to launch just a Bitcoin ETF," Macellari said during an appearance on the Crypto Prime podcast on Monday.
Its initial portfolio was led by Bitcoin at roughly 41% and ETH at about 18%, followed by positions in BNB, SOL XRP, HYPE and smaller allocations to other assets.
Macellari described the current market as a crypto winter and noted the fund is positioned relatively defensively, explaining its substantial Bitcoin weighting.
‘Tokenization Good, Crypto Bad’ Is A False DivideMacellari argued that Wall Street often tries to separate tokenization from cryptocurrencies by claiming tokenization is valuable while native digital assets are not.
She rejected that distinction.
If stocks, funds and other financial products migrate to public blockchains, their activity could create value for the networks and native tokens underpinning those systems.
The broader portfolio reflects T. Rowe Price’s bullish outlook on what she called "on-chain finance."
Macellari highlighted Hyperliquid’s revenue model as particularly compelling because it can be understood and valued using metrics familiar to traditional investors.
ETH and SOL may also benefit as financial institutions move tokenized assets and around-the-clock markets onto blockchain networks, she predicts.
Crypto Winter May Approach Its Final StageMacellari explained that the market has been in a persistent downturn since the October 2025 selloff, marking the first crypto winter experienced by many investors through spot exchange-traded products.
Bitcoin has suffered a drawdown of about 50%, while Ethereum, Solana and other altcoins have faced deeper declines.
However, she said the selloff has created more attractive asymmetric opportunities in projects whose underlying adoption and economics remain intact.
The key difference from previous winters is that banks, asset managers and financial platforms have continued developing digital-asset infrastructure rather than abandoning the sector.
Macellari expects choppy conditions and the possibility of further declines through the summer but believes the market could begin emerging from crypto winter heading into Q4.
Image: Shutterstock
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TLDR: Binance Bitcoin reserves fell to around 650K BTC, nearing a multi-month low point. Reserves declined even as Bitcoin price rose 1.58% in 24 hours, reaching $66,185. Falling reserves suggest investors favor long-term storage over active exchange trading. ETFs and institutional custody growth continue pulling Bitcoin away from exchange wallets. Binance Bitcoin reserves continue to decline, falling to around 650,000 BTC in recent weeks. This marks one of the lowest levels recorded in recent months.
The drop comes as Bitcoin trades at $66,185, up 1.58% over 24 hours and 2.75% for the week. CryptoQuant data shows the trend raises questions about what it means for the broader market.
What Declining Reserves Reveal About Investor Behavior Exchange reserves track the total Bitcoin held on a trading platform at any point. When Binance Bitcoin reserves fall, it often signals that holders are moving coins elsewhere.
Many choose long-term storage over keeping assets ready for quick trades. This shift changes how much Bitcoin sits available for immediate selling.
Source: Cryptoquant
The current decline has taken place while Bitcoin recovers from a recent correction. Prices have climbed even as reserves on Binance keep shrinking.
This pairing suggests withdrawals are not tied to fear or short-term exits. Instead, it points to holders choosing to store coins during a period of price strength.
Binance remains the largest cryptocurrency exchange by trading volume worldwide. Its reserve patterns often mirror sentiment across the broader crypto market.
A steady decline rarely comes from one trader or a small group acting alone. Analysts treat this data as a wider signal of market direction.
Cryptoquant analyst summarized the sentiment online: “Reserves dropping while price climbs tells you where conviction lies.” Posts like this have circulated widely as the trend continues to draw attention from market watchers.
Market Implications as Reserves Keep Falling Persistent declines in Binance Bitcoin reserves generally reduce coins available for quick sale. Lower reserves can tighten supply if buying demand holds steady or grows. This is not treated as a direct signal to buy. Still, it removes one possible source of future selling pressure.
Spot Bitcoin ETFs have expanded steadily, drawing coins away from exchange wallets. Institutional custody options have grown alongside this trend as well.
Both developments give large holders more paths to store Bitcoin off exchanges. Binance Bitcoin reserves have moved lower as these options gain wider adoption.
Bitcoin’s price has stayed resilient throughout this period of reserve decline. Coins continue leaving Binance while the market holds firm overall.
This combination may show accumulation slowly absorbing available supply. If demand keeps rising as reserves fall, liquidity could tighten further across trading platforms.
Reserve data works best alongside other market indicators for full context. ETF flows, stablecoin liquidity, and derivatives positioning all shape the picture.
Binance Bitcoin reserves remain a key figure for tracking investor conviction. As this trend continues, it stands as one signal worth watching closely in the months ahead.
