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.
Tether International announced on Tuesday that Twenty One Capital has appointed Raphael Zagury as its chief executive, succeeding Jack Mallers, who is leaving the role to focus on Strike, the Bitcoin payments company he founded.
The companies said the transition will be managed through an orderly transfer of responsibilities and confirmed they are no longer proceeding with plans unveiled in April to combine Twenty One Capital, Strike and Elektron Energy. Strike will continue as an independent company.
The abandoned proposal would have created a single Bitcoin-focused company with exposure to mining, payments and capital markets. Mallers had been expected to remain CEO of the combined business, while Zagury was slated to become president.
Advertisement
The transaction was also expected to increase Twenty One Capital’s Bitcoin holdings by incorporating Strike’s Bitcoin treasury but those plans have now been shelved.
The leadership change comes after Mallers oversaw the creation and public listing of Twenty One Capital, helping establish the firm as one of the world’s largest corporate Bitcoin holders. Twenty One Capital currently holds 43,514 Bitcoin worth approximately $2.9 billion.
“I’m grateful to everyone at XXI and everyone who believed in what we built,” Mallers stated. “Serving Bitcoiners has always been the mission, and that doesn’t change. Strike is where I carry it forward.”
“On behalf of the Board of Directors, I would like to thank Jack for his vision and leadership in founding Twenty One Capital, and for guiding the company through its business combination and successful listing on the New York Stock Exchange in December 2025,” Tether CEO Paolo Ardoino stated. “He took conviction in Bitcoin and turned it into a public company, and we’re grateful for that.”
The company said it will now build on that foundation by expanding into Bitcoin-focused financial services, lending, capital markets products and educational programs, with further details on its strategic direction expected in the coming months.
Zagury, who currently heads the team managing Elektron Energy, has served on Twenty One Capital’s board and will remain a director after assuming the CEO role. His background includes senior positions at Goldman Sachs, Deutsche Bank and Merrill Lynch, as well as leadership roles at fintech lender OpenCo and investment bank One Partners.
“Now that we embark on the next chapter, Rapha is one of the best operators in this industry, with a track record of building businesses with strong cash flows and disciplined execution. He brings exactly the operating standards XXI needs as it enters its next phase of growth,” Ardoino added.
Zagury said his focus will be on applying institutional standards of governance, operational rigor and disciplined capital allocation to maximize the value of the company’s Bitcoin-backed balance sheet.
“Twenty One holds one of the largest Bitcoin balance sheets in the public markets,” Zagury commented on the move. “My job is to build the operating company around it, with the discipline, governance, and executional rigor of an institution. I believe our business will perform best when we also focus on the cash flow we generate and the rigor with which we allocate capital, not only by the Bitcoin we hold.”
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Leadership Change And Merger CollapseFounder and Chief Executive Officer Jack Mallers stepped down after board disagreements over corporate strategy, handing leadership to Wall Street veteran Raphael Zagury.
Coinciding with the leadership shift, the company’s planned combination with payments platform Strike and Bitcoin miner Elektron Energy was officially terminated.
Strategy Shift Raises Investor ConcernsInvestor sentiment appeared to weaken following several changes to the company’s original strategy. Jack Mallers resigned as CEO to focus full-time on Strike, the Bitcoin payments network he co-founded, while Strike will remain an independent company instead of joining Twenty One, removing its transaction network from the company’s planned Bitcoin-native platform.
Investors also face uncertainty over a potential acquisition of Elektron Energy, which remains at a preliminary stage with no assurance a deal will be completed. Any transaction would also be subject to heightened scrutiny because new CEO Raphael Zagury co-founded and leads Elektron, requiring related-party review and board approval.
Raphael Zagury Brings Wall Street ExperienceZagury, whose appointment took effect July 20, previously served as an independent director and interim Audit Committee chair for Twenty One. He resigned from his committee roles to take the chief executive position but remains on the board.
Before joining Twenty One, Zagury held senior positions at Goldman Sachs, Deutsche Bank and Merrill Lynch. He also co-founded boutique firm One Partners, Brazilian lender OpenCo and Elektron Energy.
Twenty One Refocuses On Institutional Bitcoin StrategyUnder Zagury, Twenty One is shifting its strategy away from the previously proposed combination with Strike and toward building an institutional Bitcoin operating company focused on cash flow and disciplined capital allocation.
“Twenty One holds one of the largest Bitcoin balance sheets in the public markets,” Zagury said. “My job is to build the operating company around it, with the discipline, governance, and executional rigor of an institution.”
Moving forward, the company plans to prioritize positive cash flow, disciplined capital allocation, Bitcoin-backed financial products and corporate lending.
Twenty One Capital Price ActionXXI Stock Price Activity: Twenty One Capital shares were down 9.78% at $4.80 at the time of publication on Tuesday, according to Benzinga Pro data.
Image via Shutterstock
Market News and Data brought to you by Benzinga APIs
The reported progress on the CLARITY Act is perhaps the most surprising.
July has been historically a positive month for bitcoin and this edition hasn’t disappointed so far. The cryptocurrency began the month on the wrong foot, dipping below $58,000 for the first time in nearly two years, but it rebounded swiftly in the following weeks.
Earlier today, it rocketed past $66,000 for the first time in over a month, gaining over $8,000 since that July 1 low. Here are some of the possible reasons behind it.
Whale and ETF Accumulation As June was coming to an end and it became known that it would be a highly painful month for the asset with a nosedive of over 20%, we outlined several factors that had to change in July for a price resurgence. One of them was the ETF inflows. The financial vehicles went on a violent eight-week withdrawal-only streak, which was finally snapped a couple of weeks ago.
Moreover, investors continued to pour funds into the ETFs, which ended two weeks in the green in a row for the first time in months. July 20 extended the streak as the funds attracted almost $227 million.
The second major reason for the price revival is whale behavior. Data shared by CryptoQuant indicated that large market participants holding between 1,000 and 10,000 BTC increased their 60-day net accumulation to roughly 66,700 units, which is close to the recent record seen a month ago.
“This is the cohort’s strongest accumulation reading since February 17, when net accumulation briefly exceeded 106,000 BTC.”
News From the US The third reason has a more macro scent. It came a week ago when the US CPI numbers for June were announced, showing softer-than-expected inflation rates. BTC rallied immediately after the news went live as lower inflation reduced the pressure on the Fed to hike interest rates. Similar market conditions are regarded as beneficial for risk-on assets like bitcoin.
Last but perhaps most importantly at the moment comes a development on the CLARITY Act. After the odds of approval dropped toward 30% just days ago, reports emerged that the White House had agreed on an ethics package for the key legislation and sent the language to certain Senate republicans for further validation.
You may also like: Bitcoin Has Exited Capitulation Regime as Momentum Rebuilds: Analysts Bitcoin and Risk Assets Under Pressure as 30-Year Yields Push Above 5% What Does $2.3B Stablecoin Exodus From Binance and Bybit Mean for Bitcoin Although the details are still scarce, industry experts believe this is a major step in the right direction for the bill, and it increases the chances for a 2026 approval.
Bitcoin (CRYPTO: BTC) rallied above $66,000 to its highest level in over a month, as a technical trifecta that has historically marked every major cycle bottom flashed on the monthly chart.
What Is The Macro Bottom Signal Showing?Crypto analyst Ali Martinez identified three conditions on Bitcoin’s monthly chart that have aligned at every major cycle bottom since 2015.
The three signals:
Monthly RSI dropping to approximately 43.65 Chande Momentum Oscillator cooling to around -71 Price testing the 50-month moving average Last month, Bitcoin’s correction to $58,000 triggered all three simultaneously for the first time since December 2022.
How Has This Signal Performed Historically?The trifecta has appeared three times before, each time marking a durable accumulation zone rather than a precise price floor:
2015 — Signal printed at $235 in March. Price briefly dipped to $162 before an 8,300% expansion followed 2019 — Signal triggered at $3,333 in January, just above the $3,124 absolute low set a month prior, preceding a 1,911% rally 2022 — Signal fired at $16,270 in December near the 50-month moving average, launching a 675% rally Ali Martinez noted that on-chain metrics including MVRV and CVDD still point to a potential cycle bottom between $40,000 and $50,000, leaving open the possibility that price sweeps lower before the next leg higher.
The technical signal historically printed slightly above the absolute bottom rather than at the exact low.
What Is Driving Tuesday’s Rally?Fox Business reporter Eleanor Terrett reported Monday that President Donald Trump agreed to a crucial ethics provision for the crypto market structure bill, with the specific language shared with a group of Senate Republicans.
The ethics provision has been the primary obstacle blocking Senate passage for months.
Meanwhile, Bitcoin ETFs added $227 million in net inflows on July 20, marking the fifth consecutive day of positive flows, according to SoSoValue data. That pushed the five-day total to roughly $727.3 million.
Photo via Shutterstock
Market News and Data brought to you by Benzinga APIs
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 is holding near $66,000 and technical signals suggest the broader market may be entering a new phase. A break above current resistance opens the path toward $72,000 to $73,000 in the near term, with $80,000 a possibility if the 200-day moving average gives way.
The Altcoin SetupAfter months of sideways accumulation, altcoins are beginning to break daily downtrends. The pattern forming across the altcoin market total cap chart is a bullish reversal flag rather than a continuation of the bear move, suggesting the next leg could add over $100 billion to altcoin market capitalization from current levels.
Ethereum is leading the rotation out of Bitcoin dominance, a historically positive sign for the broader altcoin market. Important levels across major altcoins:
ETH: Entry zone $1,700 to $1,800, targets at $2,200 then $2,400SOL: Entry zone $76 to $78, targets $88 then $98XRP: Breaking out, target push toward $1.40AVAX: Currently in the entry zone, targets $7.50 then $8.30Chainlink: Longer-term spot entry at $10 to $11, could take several weeksSUI: Breaking out, target $1.00, representing approximately 31% upsideDogecoin: Daily close confirmation still pending, target area around 10 cents higher over coming weeksCardano: Early stages, watching for a larger trend break that could target 40 centsBroader Market StructureShort-side liquidations at the $66,000 level have largely been wiped out, with a smaller cluster forming around $62,000. Analysts watching liquidation maps say the absence of a large concentration of short positions above current prices is a constructive sign, as it removes a potential ceiling on the rally.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin climbed back above the $66,000 mark after the White House reportedly reached an agreement on an ethics package tied to the CLARITY Act.
Up until now, Democrats demanded stronger guardrails on Trump’s crypto business ties as a non-negotiable condition for their votes. The bill needs 60 Senate votes to advance, making bipartisan support mathematically necessary.
The rally also pushed crypto sentiment into the Neutral zone (40) for the first time in nearly a month after an extended period of Fear and Extreme Fear.
Notable Statistics Coinglass data shows 73,177 traders were liquidated in the past 24 hours for $225.70 million. SoSoValue data shows net inflows of $226.9 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $38.09 million. In the past 24 hours, top losers include DeXe, Pi and Pyth Network. Latest DevelopmentsTrader NotesCrypto Poseidon highlighted that Bitcoin bottomed near $60,000 despite calls for $45,000, but renewed euphoria at the range high could signal another reversal. He expects BTC to peak around $70,000 before gradually falling back toward $60,000 by September.
CryptosBatman sees Bitcoin testing the daily 50-day EMA, a level that has capped every major rally this year. A decisive breakout could signal a broader trend reversal, while another rejection would reinforce the prevailing bearish structure.
MN Fund founder Michael van de Poppe noted Bitcoin has climbed to its highest level in more than a month, signaling improving market momentum, but the rally has yet to accelerate.
The analyst says a decisive break above last month’s $67,000 high could open the path toward $73,000.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Russia’s State Duma has approved a significant crypto bill that legalizes the use of cryptocurrencies for foreign trade and cross-border settlements. This legislative move marks a strategic shift as Russia seeks to circumvent Western sanctions by establishing a licensed infrastructure for international crypto payments. The bill, however, maintains a strict ban on domestic crypto payments. It is set to officially take effect on September 1, 2026, pending President Vladimir Putin’s signature. Markets will have until July 1, 2027, to comply with a transition period that involves obtaining necessary licenses and registration with the Central Bank of Russia.
Advertisement
Key Takeaways Markets appear to view the advancement of Russia’s crypto bill as supportive of increased Bitcoin legitimacy for international transactions. Current pricing suggests a potential boost in market confidence for Bitcoin, although domestic restrictions remain stringent. The move could indicate a broader trend of countries turning to crypto solutions amid geopolitical tensions and economic sanctions. What to Watch The bill’s impact on the Bitcoin market remains an area of interest, with markets watching for President Putin’s expected signature to finalize the legislation. The implementation of the law could influence Bitcoin’s price trajectory as markets assess its implications for global crypto trade. Additionally, any further geopolitical developments or changes in Western sanctions could alter the landscape and influence market pricing towards YES or NO outcomes in related Bitcoin price prediction markets.
Get live prediction-market analysis, powered by Vera. Sign up for Vera.
What Price Will Bitcoin Hit Before 2027
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 3.4% — — View market → December 31 5.5% — — View market → January 1 2027 9.5% — — 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 2.9% — — View market → January 1 2027 3.9% — — View market → January 1 2027 6.5% — — 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 2.7% — — View market → January 1 2027 32.5% — — View market → January 1 2027 15.5% — — View market → January 1 2027 8.5% — — View market → January 1 2027 4.2% — — 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 12.5% — — View market → January 1 2027 23.5% — — View market → January 1 2027 36% — — View market → January 1 2027 60.5% — — View market → January 1 2027 83.5% — — View market → What Price Will Hyperliquid Hit Before 2027
Contract Odds Δ since publish Volume 24h December 31 30% — — View market → January 1 2027 6.2% — — View market → January 1 2027 3.2% — — View market → January 1 2027 54.5% — — View market → January 1 2027 9.1% — — View market → January 1 2027 3.6% — — View market →
CoinShares, a leading European digital asset investment firm, has introduced its inaugural UCITS exchange-traded fund (ETF) designed to provide investors exposure to publicly listed Bitcoin mining companies. The CoinShares Bitcoin Mining UCITS ETF is domiciled in Ireland and began trading on Deutsche Börse Xetra under the ticker MINE.
ETF structure and market debutThe new ETF is physically replicated and tracks the CoinShares Bitcoin Mining Index. This rules-based index comprises a basket of Bitcoin mining firms, and Solactive AG serves as the administrator of the index. CoinShares highlighted that the fund’s total expense ratio stands at 0.65%, and portfolio rebalancing will occur on a quarterly basis.
At launch, the ETF was priced at €19.50, equivalent to $21.74 per share. Initial trading saw 60 units exchanged on Xetra, amounting to a total turnover of €1,184.
CoinShares stated that the new ETF provides a gateway for European investors seeking indirect exposure to the Bitcoin mining sector via regulated, listed securities.
The fund is issued under the UCITS regulatory structure, offering wide availability across European markets through an Irish platform.
Comparisons with existing productsCoinShares’ existing US-listed ETF, also focused on Bitcoin mining firms and trading under the ticker WGMI, has accumulated net assets of $343.6 million. The UCITS ETF aims to bring a similar investing experience to European clients, recognizing different regulatory environments and investor preferences.
ETFRegionNet AssetsExchangeTickerCoinShares Bitcoin Mining UCITS ETFEuropeN/ADeutsche Börse XetraMINECoinShares Bitcoin Mining ETFUS$343.6 millionN/AWGMIBoth ETFs offer exposure to companies engaged in the Bitcoin mining industry, but the UCITS version responds to European regulations and investor demand for harmonized products.
About UCITSUCITS, or Undertakings for Collective Investment in Transferable Securities, is the European Union’s standardized regulatory framework for investment funds. This regime allows funds compliant with its rules to be marketed and sold across multiple EU member states without the need for country-by-country registration.
UCITS structures are widely preferred by asset managers in Europe as they ensure a high standard of investor protection and transparency.
Mini dictionary: UCITS (Undertakings for Collective Investment in Transferable Securities) is the principal European framework that allows investment funds to operate across EU borders under a unified set of regulations, designed to enhance cross-border fund distribution while protecting investors.
CoinShares underlined that the MINE ETF broadens its product offering for European investors looking for sector-specific digital asset exposure within a regulated investment structure.
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.
Moonshot AI, the Chinese startup that just dropped one of the most impressive AI models the industry has seen, is now looking to cash in. The company is finalizing a pre-IPO funding round targeting a valuation north of $30 billion, a sharp jump from the $20 billion price tag it carried after raising $2 billion in May 2026.
Kimi K3, the model Moonshot launched on July 17, has already sent shockwaves through both traditional equities and digital asset markets. It’s a 2.8 trillion parameter model built on an open-weight Mixture-of-Experts architecture, meaning it selectively activates only the parts of itself needed for a given task, and anyone can inspect its weights.
The model has reportedly matched or exceeded coding benchmarks set by OpenAI and Anthropic. But the real kicker is the cost: Kimi K3 operates at roughly 1% the price of comparable US frontier models. Demand has been so intense that Moonshot AI temporarily paused new Kimi subscriptions.
Advertisement
Moonshot AI was founded in 2023, which means it went from incorporation to potential $30 billion-plus valuation in roughly three years. The company has raised approximately $4 billion in total funding.
The market fallout is already here The release of Kimi K3 didn’t happen in a vacuum. Both Bitcoin and tech stocks experienced increased volatility in the aftermath. If a Chinese startup can deliver frontier-level AI performance at 1% of the cost, what does that mean for the pricing power of American AI companies? And if the valuations of those companies get questioned, what happens to the broader risk-on trade that has propped up everything from Nvidia stock to Bitcoin?
The IPO and what investors should watch Moonshot AI is reportedly planning a Hong Kong IPO within six months. The pre-IPO round currently being finalized would be the company’s last private raise before going public. Shareholder approvals and market conditions will determine the exact timeline.
A Hong Kong listing positions Moonshot within Asia’s capital markets ecosystem while maintaining proximity to mainland China’s massive user base. It also avoids the regulatory complexity that Chinese companies have faced when listing in the US.
The $30 billion-plus target valuation represents at least a 50% premium over the company’s May 2026 valuation of $20 billion, a figure backed by Kimi K3’s performance metrics and the subscription demand that forced a temporary sales halt.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Treasury Secretary Scott Bessent said on Fox News on Tuesday that the United States froze a crypto wallet linked to Iran’s Islamic Revolutionary Guard Corps worth $130 million, part of a campaign to track the assets of Iran’s supreme leader around the world.
“We are tracking these accounts all over the world,” Bessent said, in remarks that framed the Treasury work as one prong of an “economic fury” push against Tehran alongside a blockade. “We froze a crypto wallet linked to the IRGC the other day.”
He said investigators had “found the money man for the Ayatollah” and were tracing the holdings of Ali Khamenei, including properties he valued at more than $100 million. Bessent said the Treasury hopes to publish the addresses of those properties. He cast the seizures as a transfer of value to the American people and a squeeze on the regime.
Iran’s economy in ‘freefall’ Bessent also described a collapse in Iran’s economy. He said the rial sits at an all-time low against the dollar and called it in “freefall,” with an inflation rate he put “upwards of 180%.” His account tracks the rial slide that has pushed some Iranians toward bitcoin.
The comments extend a Treasury campaign that has run through the war between Iran, Israel, and the United States. The department has sanctioned Iran’s largest crypto exchange and said the U.S. has seized $1 billion of Iran’s crypto. Blockchain analysts have tied billions in on-chain flows to IRGC-linked wallets, with such wallets receiving more than $3 billion in 2025, a rise from over $2 billion the year before.
In a separate move, the stablecoin issuer Tether froze $344 million in USDT across two blockchain addresses tied to the IRGC, one of the largest single actions in the sequence.
Bitcoin’s design draws both sides of the fight. It settles without a correspondent bank or a reserve-currency issuer, a trait that lets Iran monetize oil access outside the dollar system and lets Treasury trace and freeze value on a public ledger.
The conflict has reshaped how crypto figures into the region. Since U.S. and Israeli strikes on Iran began, bitcoin use inside the country has surged as residents moved value out of the banking system.
Tehran, for its part, reportedly moved to accept bitcoin from tankers seeking passage through the Strait of Hormuz, a $1-per-barrel toll that turns its grip on the chokepoint into settlement revenue. The strait carries a fifth of the world’s oil.
The war has repriced bitcoin as well.
Treasury has not published documentation of the $130 million wallet freeze or the property addresses Bessent referenced. The inflation and currency figures came from his remarks rather than from Iranian data.
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
Hyperscale Data, the AI-focused data center company trading under the ticker GPUS on NYSE American, just added another 51.5 Bitcoin to its corporate treasury. The purchase brings its total stash to 1,087.4527 BTC, valued at roughly $70.3 million at a Bitcoin price of $64,691.
The acquisition was made through Ault Capital Group (ACG), a subsidiary, via open-market purchases during the week ending July 19, 2026. It’s the latest move in what has become a steady, methodical Bitcoin accumulation strategy that the company has pursued since early 2025.
A growing Bitcoin pile with a familiar playbook The company uses a two-pronged approach: mining Bitcoin directly and buying it on the open market. Earlier in its accumulation phase, holdings climbed toward 900 BTC. Then a 32.49 BTC purchase pushed the total to approximately 1,032.5 BTC, valued at around $65.8 million at the time. Now, with this latest 51.5 BTC buy, the company sits above the 1,000 BTC mark.
Advertisement
Executive Chairman Milton “Todd” Ault III has been vocal about what he sees as a disconnect between the company’s market capitalization and the actual value sitting on its balance sheet. With Bitcoin holdings alone exceeding $70 million, and total reported assets reaching approximately $106.7 million as of late June 2026, he argues the market isn’t pricing in what the company actually owns.
The corporate Bitcoin treasury trend keeps expanding The company’s Bitcoin holdings represent a significant chunk of its total reported assets. At $70.3 million out of roughly $106.7 million in total assets, Bitcoin accounts for approximately two-thirds of everything the company owns on paper.
The strategy also includes a notable corporate restructuring on the horizon. Hyperscale Data plans to divest ACG during the second quarter of 2027 through an exchange involving 1,000,000 Series F Preferred shares, which were issued back on December 23, 2024.
What this means for investors With 1,087 BTC, the $70.3 million in Bitcoin represents real, liquid value that the company can point to when making the case that its equity is undervalued. When Bitcoin constitutes roughly two-thirds of total assets, the company’s fortunes become heavily correlated with crypto price movements.
The planned ACG divestiture adds another variable. If the separation goes through in Q2 2027 as planned, investors will need to evaluate how the Bitcoin holdings get allocated between the parent company and the spun-off entity, with the mechanics of the Series F Preferred Stock exchange creating complex valuation dynamics.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Pavel Durov says Telegram will ship a native non-custodial Gram wallet inside every Telegram app this summer. He promised instant zero-fee transactions for more than 1 billion users, and GRAM climbed over 8% after the post.
The Telegram founder made the pledge on his official Telegram channel on Tuesday. It marks his most aggressive step yet toward making Gram the app’s default currency.
GRAM Price Performance. Source: TradingViewNative Gram Wallet Promises Zero-Fee Transactions at ScaleDurov framed the rollout as a first for the industry.
“This summer will see the largest rollout of a non-custodial crypto wallet in human history. Instant zero-fee crypto transactions for over a billion users are about to become reality. We’re bringing a native non-custodial Gram wallet to every Telegram app!” Durov wrote on his Telegram channel.
Follow us on X to get the latest news as it happens
Telegram users currently rely on a custodial wallet or the self-custodial TON Space add-on. A native wallet would place key ownership directly inside the core app.
The pledge builds on the rebrand from Toncoin that took effect on June 15 with 81.22% community approval. Telegram, which also launched an Apple Watch app during the rebrand, took over network development in May and cut transaction fees roughly sixfold.
GRAM Price Reacts to the Wallet PledgeGRAM traded near $1.53, up 8.4% in 24 hours with a $4.17 billion market cap, per BeInCrypto Rankings. The token ranks 25th overall yet remains down more than 54% over the past year.
Skeptics persist, however. Blockstream CEO Adam Back recently questioned GRAM’s inflation mechanics after Durov compared the token favorably with Bitcoin (BTC).
Self-custody at Telegram’s scale is untested. Whether a billion users activate the wallet, rather than simply receiving it, will decide the rollout’s real impact.
The Strait of Hormuz is having a very bad year. On July 20-21, an unidentified projectile, suspected to be a drone or missile, struck the Kuwaiti-flagged oil products tanker Kaifan near the strait’s eastern entrance, triggering a fire, knocking out engine power, and injuring two crew members.
Kuwait’s government responded by summoning Iran’s ambassador, signaling serious escalating tension between the two Gulf neighbors.
What happened to the Kaifan The Kaifan is owned by Kuwait Oil Tanker Co., one of the region’s major state-backed shipping operators. The vessel issued a distress call during the attack, and while the two injuries were described as minor, the combination of fire and engine disablement in one of the world’s most strategically sensitive waterways is anything but minor in market terms.
No group immediately claimed responsibility, but the timing fits a broader pattern that has been building since late February 2026, when Iranian restrictions on vessel transit through the Strait of Hormuz first ignited what analysts are now calling the 2026 Hormuz Crisis.
Advertisement
The strait handles roughly 20% of the world’s oil trade.
Oil spikes, Bitcoin wobbles Markets did not take the news calmly. Oil prices surged above $90 per barrel in the immediate aftermath of the attack, driven by fear of further supply disruptions along one of the world’s most critical energy corridors.
The crypto market read the same headline and went cautious. Bitcoin traded in a range of $61,000 to $63,800 during the period of peak geopolitical tension, reflecting a risk-off posture among traders who tend to reduce exposure to volatile assets when traditional commodity markets start flashing red.
There is also a more direct and unusual link between this conflict and the crypto market. Iran has reportedly been exploring the use of cryptocurrency, including Bitcoin, as a mechanism for transit tolls and insurance arrangements to facilitate safe passage for vessels through the Strait of Hormuz. For a country operating under heavy international sanctions, crypto’s permissionless architecture has obvious appeal as a payment rail that bypasses traditional banking systems.
What investors should watch Each incident that goes unanswered raises the risk premium on Hormuz transit, which feeds into tanker insurance rates, shipping costs, and ultimately the price of every barrel of oil that has to pass through that bottleneck.
For Bitcoin specifically, the Iran crypto-toll angle is worth monitoring as a longer-term structural story. If Iran formalizes any kind of crypto-denominated transit fee system, the regulatory response from the U.S. Treasury and allied governments would likely be swift and pointed, potentially targeting any exchanges or protocols that facilitate those flows.
The more immediate watch item is whether Kuwait’s diplomatic protest produces any Iranian de-escalation, or whether the attack on the Kaifan becomes the next chapter in a crisis that has already spent months grinding down confidence in one of the world’s most critical shipping lanes. U.S. military presence in the region has already been cited as a factor in Iranian responses against shipping, meaning any shifts in that footprint could rapidly change the calculus on both sides.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Crypto markets are stirring after months of listless trading on signs that Washington is moving toward a clearer rulebook for digital assets.
Bitcoin rose more than 2% toward $67,000 on Tuesday, while shares of Coinbase Global Inc. climbed as much as 12.6% after Treasury Secretary Scott Bessent said lawmakers were at the “1-yard line” on the Clarity Act. He urged Congress to pass the long-awaited bill before leaving for recess. Smaller tokens also rallied.
Crypto news today shows investors using two different strategies. Institutions are buying Bitcoin through regulated ETFs, while risk-tolerant buyers are adding early-stage projects such as MemeToro.
BlackRock’s IBIT attracted $315 million on July 20 as MemeToro’s Stage 4 presale moved beyond 73% of its target. The two assets offer different combinations of maturity, risk, and potential upside.
Bitcoin ETF Demand Accelerates Again BlackRock’s spot Bitcoin ETF recorded $315 million in single-day inflows on July 20. The purchase helped US spot Bitcoin ETFs complete their fifth consecutive positive trading day.
The inflow streak offset the liquidation-driven outflows recorded earlier in July. It also showed that institutions were treating Bitcoin’s weakness as an accumulation window instead of leaving the asset entirely.
Eric Balchunas said legacy institutions appear to be buying Bitcoin programmatically whenever the price falls below $65,000. That behavior gives BTC a source of consistent demand during periods of retail fear.
Institutional ownership is also expanding. Recent SEC 13F filings show hedge funds and pensions increased their share of Bitcoin ETF ownership from 22% to 31% during the previous quarter.
Sovereign Fund Rumors Add Another Catalyst Rumors that a major Middle Eastern sovereign wealth fund may allocate 1% of its portfolio to Fidelity’s FBTC have increased spot-market premiums.
The allocation has not been formally confirmed. However, even a small portfolio percentage from a large sovereign fund could represent considerable buying demand.
Bitcoin offers institutions regulated access, deep liquidity, and an established market. These features make BTC a core holding rather than a short-term speculative trade.
The trade-off is scale. Bitcoin requires large inflows to produce the percentage gains available to smaller projects. That is why some buyers combine BTC exposure with earlier presales instead of choosing only one market stage.
MemeToro Adds An Earlier AI Position MemeToro is gaining attention as an AI-powered memecoin platform on BNB Smart Chain. Its agent is designed to monitor news, social platforms, and online communities for narratives developing in real time.
After identifying a trend, the agent can create a token concept, name, branding, visuals, and marketing content. Generated memecoins are intended to launch without insider allocations.
MemeToro’s focused benefits include:
Entry before public trading Automated narrative discovery AI-generated token packages Fair launches without insiders Early discovery dashboards Planned staking rewards This model gives $MT a different role from Bitcoin. BTC stores and transfers established market value, while MemeToro aims to power an emerging AI-driven trading platform.
MemeToro has raised $80,178.47 during Stage 4, reaching 73.28% of its $109,411.90 target.
The current rate is $0.00232 per $MT. The project states that $MT will launch at $0.01875, approximately 8.08 times the Stage 4 price. That difference reflects the planned pricing structure and does not guarantee a public-market return.
Crypto News Today Shows A Barbell Strategy Bitcoin ETF inflows and MemeToro’s presale progress represent opposite ends of the crypto market.
Bitcoin provides liquidity, institutional adoption, and a long public trading history. MemeToro provides a smaller pre-listing position with greater development and liquidity risk.
Investors adding both are effectively balancing an established asset against a speculative platform opportunity. Bitcoin may benefit from ETF and sovereign demand, while MemeToro must convert its AI concept into active users.
The central crypto news today theme is not that both assets carry equal risk. It is that buyers can seek institutional strength through Bitcoin while examining higher-upside infrastructure before public price discovery begins.
More Information on MemeToro ($MT) Presale Here:
Website: https://memetoro.com/
X: https://x.com/memetoro_mt
Telegram: https://t.me/memetoro_mt
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Ionic Digital has secured SEC approval for its registration statement, clearing the final regulatory hurdle before its planned Nasdaq direct listing on July 28.
Summary
Ionic Digital has cleared its final SEC regulatory hurdle ahead of its planned Nasdaq direct listing on July 28. Existing shareholders, including former Celsius creditors, will be able to sell their shares as Ionic lists under the ticker IOND. The company continues building its AI and high performance computing business alongside its Bitcoin mining operations. According to a company statement issued Monday, the digital infrastructure operator expects its Class A common stock to begin trading on the Nasdaq Global Select Market under the ticker IOND, subject to Nasdaq’s final listing requirements.
The company is entering public markets through a direct listing instead of a traditional initial public offering. Under that structure, Ionic will not issue new shares or raise fresh capital from the transaction. Existing registered shareholders will instead be able to sell their holdings on the public market once trading begins.
For many investors, the listing represents the first opportunity to trade shares received through the bankruptcy restructuring of crypto lender Celsius Network. Ionic Digital was created in January 2024 to hold Bitcoin mining assets transferred from the Celsius estate after a U.S. bankruptcy court approved the lender’s restructuring plan.
Former Celsius creditors became shareholders after receiving about 37 million Class A shares under the bankruptcy plan. As previously reported by crypto.news, Celsius later continued distributing funds through additional payout rounds, while some creditors also became eligible to receive equity in Ionic Digital.
Unlike a conventional IPO, a direct listing does not involve underwriters setting an offering price. Instead, Nasdaq determines the opening price using buy and sell orders collected before trading begins. Ionic also stated in earlier SEC filings that direct listings can experience higher price volatility because existing shareholders gain a public venue to sell shares without the price stabilization mechanisms commonly associated with underwritten offerings.
Ionic expands beyond Bitcoin mining Although Ionic began as a Bitcoin mining company, it has increasingly repositioned itself around digital infrastructure supporting artificial intelligence and high-performance computing workloads.
Earlier this month, the company filed its Form S-1 registration statement with the SEC. Before pursuing the listing, Ionic completed a roughly $400 million private equity financing that the company said would fund general corporate purposes, including continued investment in digital infrastructure and data center development.
According to earlier SEC filings, the financing implied a pre-money equity valuation of approximately $2 billion. CEO Andy Stewart previously said the funding strengthened the company’s capital base as it continued building its digital infrastructure platform.
The company’s strategy now extends well beyond cryptocurrency mining. Its Cedarvale campus in Ward County, Texas, has become the centerpiece of that transition after portions of the site were repurposed to support AI and high-performance computing infrastructure.
Earlier company disclosures said the Ward County property includes approximately 234 megawatts of installed capacity. Mining equipment at the site was decommissioned during late 2025 as Ionic prepared the facility for AI infrastructure under a long-term agreement with AI cloud provider Nscale.
According to previous company filings, the lease spans 126 months and is expected to generate about $1.95 billion in contracted revenue, with additional expansion possible if further capacity receives regulatory approval.
During the first quarter of 2026, Ionic reported $44 million in digital infrastructure leasing revenue, while Bitcoin mining revenue declined 82% year over year to $7.4 million from $41.1 million.
The company has also stated that revenue from AI and other high-performance computing services is eventually expected to exceed revenue generated through Bitcoin mining.
Mining companies are transitioning to AI Ionic’s repositioning comes as several publicly traded Bitcoin miners invest more heavily in AI-focused data centers while mining profitability remains under pressure.
As previously reported by crypto.news, Bitcoin miners generated about $1.086 billion in revenue during May, the strongest monthly performance since January. However, lower Bitcoin prices later reduced mining profitability as hashprice declined and network hashrate eased, prompting some operators to scale back less efficient mining equipment.
Industry participants have increasingly turned toward AI infrastructure because many mining companies already control large power supplies, cooling systems and data center facilities that can be adapted for high-performance computing workloads.
IREN has followed a similar strategy. Earlier this year, the company completed its acquisition of Spain-based Nostrum Group, adding roughly 490 megawatts of secured grid-connected power to support European AI cloud expansion. IREN also reported that AI cloud revenue increased during its latest quarter even as Bitcoin mining revenue declined.
HIVE Digital and Bitdeer have also announced projects converting existing mining facilities into AI computing infrastructure, further illustrating how miners are seeking additional revenue streams beyond cryptocurrency production.
For Ionic, however, the upcoming Nasdaq debut represents more than another mining company entering public markets.
It also provides former Celsius creditors with a long-awaited opportunity to trade shares received through one of the cryptocurrency industry’s largest bankruptcy restructurings while giving investors a chance to evaluate a business increasingly focused on AI infrastructure rather than Bitcoin mining alone.
Washington is finally doing something about crypto regulation, and Bitcoin is noticing. Crypto markets have started moving again after months of sideways action, with the catalyst being renewed signals from Treasury Secretary Scott Bessent that the Digital Asset Market Clarity Act is on a real legislative timeline.
Bessent has been vocal about urgency, pushing for Senate passage this summer before the August recess. Hearings are scheduled around the week of July 20, which means the window is narrow and the pressure is real.
What the Clarity Act actually does The bill’s formal name is the Digital Asset Market Clarity Act, or the CLARITY Act, filed as H.R.3633. Here’s the core problem it solves: for years, Bitcoin, Ethereum, and essentially every other digital asset have existed in a regulatory no-man’s land between the SEC and the CFTC. The CLARITY Act draws a cleaner boundary, defining which assets fall under SEC oversight and which belong to the CFTC.
The House already passed the bill on July 17, 2025, by a vote of 294 to 134. That’s a comfortable bipartisan margin, not the kind of partisan squeaker that tends to die in the Senate.
Advertisement
Where the Senate stumbles Senate negotiations have snagged on two specific issues: stablecoin yield provisions and DeFi regulations. Stablecoin yield language determines whether interest-bearing stablecoins get treated like money market funds or something else entirely, which has enormous implications for products that crypto companies are already building.
A breakthrough on the stablecoin yield language was reportedly reached in March 2026, clearing one of the bigger obstacles. The DeFi provisions and Republican vote-securing remain the outstanding work.
Bessent published an op-ed in the Wall Street Journal on April 8, 2026, framing inaction as a competitive risk. His argument was direct: if the US doesn’t establish clear rules, capital and talent will flow to jurisdictions that have. Europe’s MiCA framework is already operational.
Why markets are reacting now Bessent signaling a real summer timeline changes the probability calculus. Institutional players who have been waiting for a cleaner legal environment now have a specific window to watch. If the Senate moves before the August recess, the regulatory environment for crypto in the US looks materially different in Q4 than it did six months ago.
For Bitcoin specifically, Bitcoin’s regulatory status as a commodity has been relatively settled for some time, meaning the CLARITY Act’s direct impact on Bitcoin is less about its own classification and more about the ecosystem around it. More institutional infrastructure, cleaner on-ramps, and a more stable regulatory environment for exchanges and custody providers all feed into Bitcoin demand indirectly.
The broader market, including assets whose commodity-versus-security status remains genuinely contested, stands to benefit more directly from the bill’s classification framework. A token that gets a clean CFTC designation under the new rules faces a fundamentally different compliance burden than one stuck in SEC limbo.
Watch the week of July 20 closely. If Senate hearings produce meaningful committee progress before the August recess, expect that to function as a positive catalyst. If negotiations stall and the bill gets pushed to September or later, some of the optimism currently priced into the market will need to unwind.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Galaxy has launched a new initiative aimed at preparing Bitcoin for the potential threat posed by quantum computing.
The firm, which is spearheaded by cryptocurrency bull Mike Novogratz, has $5 million in grants to fund those developers who are specifically focused on post-quantum security solutions.
The Galaxy Bitcoin Quantum Readiness Initiative will support efforts to develop new signature schemes, Bitcoin upgrade proposals, wallet migration solutions, and so on.
HOT Stories
The firm has noted that no quantum computer today can break Bitcoin’s security, but that could change "faster than expected," and the Bitcoin community is too conservative to implement a fix fast.
The initiative will be built around developer funding, ongoing research through Galaxy Research, and a Quantum Advisory Council composed of experts in quantum computing and cryptography.
You Might Also Like
"There’s a gap between the quantum computing world, which is moving fast, and the Bitcoin development world, which is just beginning to engage with post-quantum cryptography in earnest," Alex Thorn, the head of research at Galaxy Digital, said in a statement.
The company said Bitcoin’s reliance on elliptic curve cryptography creates a long-term risk if sufficiently powerful quantum computers become available. However, Galaxy emphasized that no such quantum computer currently exists and that Bitcoin still has time to prepare.
Quantum risk is real Recently, Galaxy published an insightful report that examines Bitcoin’s potential vulnerabilities related to rapid advancements in the realm of quantum computing.
According to the report, the main risk comes from the possibility that future quantum computers could be capable enough to break the flagship cryptocurrency's elliptic curve digital signatures.
Millions of coins could be at risk under certain scenarios, according to some estimates.
However, the firm argued that the risk is recognized and that developers are currently exploring mitigation strategies.
Slow-moving Bitcoin governance remains a major hurdle. BTC has no central authority, so any quantum-resistance upgrade would require great coordination among developers, miners, and so on.
Senate negotiators settled the ethics dispute that had stalled the CLARITY Act for weeks. Bitcoin climbed toward $67,000 as spot ETFs extended a multi-day streak of net inflows. Republicans still need several Senate Democrats to cross over before a floor vote can happen. Prediction markets raised their odds on passage but still see the timeline as tight. Bitcoin climbed toward $67,000 on Tuesday after Senate negotiators reached a compromise on the ethics language that had frozen the Digital Asset Market CLARITY Act for weeks. Senator Cynthia Lummis, Senator Bernie Moreno and White House crypto advisor Patrick Witt finalized an agreement that hands enforcement of new conflict-of-interest rules to the Department of Justice rather than to individual state attorneys general. Traders read the deal as the clearest signal yet that a Senate floor vote could arrive within days. Bitcoin’s price reaction, a move from the low $64,000s to a fresh local high near $66,872, reflected that shift in expectations before the political story even finished developing.
Crypto in America host Eleanor Terrett first reported the agreement Monday night, citing multiple industry sources briefed on the language. Witt confirmed his own continued involvement hours later, thanking the president and White House adviser David Sacks for the chance to see the effort through.
How a Justice Department Clause Broke a Weeks-Long Standoff The CLARITY Act itself was never really the sticking point. The bill hands primary oversight of spot crypto markets to the Commodity Futures Trading Commission, leaves securities-like tokens under the SEC, sets formal bankruptcy protections for exchange customer funds, and carves out safe harbors for DeFi developers. That package had broad support months ago. What stalled it was a single clause. Democrats led by Senators Angela Alsobrooks and Ruben Gallego wanted guardrails preventing the president, vice president and members of Congress from using their offices to profit off personal digital asset holdings, a provision aimed squarely at Trump, whose 2025 disclosures showed $1.4 billion in crypto-related income through World Liberty Financial and a string of personalized memecoins.
The fix that unlocked the deal was procedural rather than substantive. Instead of letting individual state attorneys general enforce the ethics rules, which risked fifty different interpretations and years of litigation, the DOJ takes sole enforcement authority. That gives the bill one federal standard instead of a patchwork, which is precisely what institutional players wanted before committing capital to products built around the new rules.
ETF Buyers Were Already Positioning Before the Political News Broke The legislative breakthrough triggered Tuesday’s price spike, but the money underneath it had been arriving for days. U.S. spot Bitcoin ETFs pulled in $226.92 million in net inflows on Monday alone, extending a five-day streak that now totals $727.3 million. BlackRock’s IBIT, Fidelity’s FBTC and Grayscale’s GBTC led the buying. That run has pushed year-to-date net outflows back below $5 billion, clawing back a meaningful chunk of the $7.5 billion that left the ETF complex during the brutal mid-May to late-June downturn. Total ETF market capitalization has rebounded from a low of $75 billion to $79 billion.
Monday Net Inflow
$226.92M
5-Day Streak Total
$727.3M
YTD Net Outflows
Below $5B
ETF Market Cap
$79B
up from $75B low
Leading funds: BlackRock IBIT, Fidelity FBTC, Grayscale GBTC
A Triangle Nearing Its Breakout Point The weekly chart adds a layer Tuesday’s rally doesn’t show on its own. Bitcoin has spent months carving out a symmetrical triangle, a descending line off the $130,000 peak converging against an ascending line off the $60,000 lows, and price is now trading right at that apex. That’s typically where a breakout happens, not further consolidation, since the range between the two trendlines has narrowed to almost nothing.
The 50-week moving average, sitting near $89,700, tells the more sobering part of the story. Price remains well below it, and the weekly RSI at 32.89 stays under the neutral 50 mark, both consistent with a market still working through a correction rather than confirming a fresh uptrend. None of that erases Tuesday’s move. It does mean the CLARITY Act news and ETF inflows are landing on a chart that hasn’t broken out of its longer-term downtrend yet, so the triangle’s resolution in the coming weeks, not any single day’s headline, is what will show whether this rally has real follow-through.
$97,900
Prior resistance / SMA rollover zone
$89,700
50-week SMA
$66,855
Current price
32.89
Weekly RSI, below neutral 50
The Seven Democrats Standing Between the Bill and a Vote Republicans hold 53 Senate seats. Breaking a filibuster requires 60 votes, meaning at least seven Democrats need to cross the aisle, and as of Tuesday not one has publicly signed onto or even reviewed the finalized text. Advocacy groups including Indivisible are already campaigning against the bill, framing it as a deregulation vehicle built to benefit crypto holders in office rather than protect consumers. Senator Moreno has called the new ethics framework the strongest of any bill Congress has passed, and Senate Majority Leader John Thune could bring it to the floor within days if he chooses to. Whether he does remains the open question.
Polymarket puts implied odds on 2026 passage at 43%, up from 32% within hours of the ethics deal. Kalshi caps the probability of the bill becoming law this year at 36%, citing the narrow runway before the August 8 recess. Dan Gambardello remains cautious, pointing to the absence of any public Democratic commitment to the finalized text. What Would Actually Change if Thune Schedules a Vote This Week A scheduled floor vote, on its own, becomes the next catalyst regardless of how the count eventually lands. Markets have already shown they will move on the possibility of a vote, not just its outcome. If Thune sets a date and the released text shows real bipartisan concessions, the bull case points to a run through resistance toward $74,300, the midpoint of this year’s consolidation range, with room to extend toward $84,000. If Democrats reject the DOJ provision as toothless, or the Federal Reserve delivers a hawkish hold at its late-July meeting, the bear case opens a retest of $58,000 with a deeper slide toward $51,000 on the table.
Two forces sit underneath either outcome. A proposed 10-day ceasefire reviving the US-Iran interim deal has pulled oil prices lower, easing inflation pressure and adding to risk appetite, while Russia’s push to legalize crypto for cross-border trade settlement is adding pressure on Washington to finish its own framework before lawmakers leave for August recess. Working against the rally, the Coinbase Premium Index, which tracks US institutional demand against retail, remains negative at -0.062, and roughly $2.3 billion in stablecoin liquidity has left Binance and Bybit over the past month, leaving less capital sitting on exchanges ready to absorb a sudden swing in either direction. Thune’s calendar, not the vote count itself, is what traders will be refreshing first.
Solana DeFi protocol Hylo has launched $xBTC, a leveraged token designed to provide roughly 3x exposure to Bitcoin without the traditional liquidation mechanics associated with perpetual futures and margin trading.
Rather than requiring users to manage collateral, margin accounts, or individual leveraged positions, $xBTC packages leveraged Bitcoin exposure into a token that users can hold directly in a Solana wallet.
“3x BTC exposure on Solana is now as simple as holding a token,” Hylo said in its launch announcement, describing $xBTC as a “liquidation-resistant leveraged token that lives in your wallet.”
Hylo has also introduced a 0% minting fee for $xBTC during its launch week.
Hylo Expands Beyond Leveraged $SOL $xBTC represents the next major addition to Hylo’s leveraged token lineup after $xSOL, which launched in July 2025 and remains the protocol’s flagship product.
Hylo designed its xAssets to simplify leveraged exposure by turning positions into standard tokens. Users can access $xBTC at any venue on Solana supported by compatible DEX aggregators.
The model differs from perpetual futures, where traders typically need to manage collateral, funding rates, liquidation thresholds, and active positions.
Hylo argues that tokenizing leveraged exposure could make these strategies more accessible to a broader group of Solana users. However, liquidation resistance does not eliminate the risks associated with leverage. Leveraged tokens can still amplify losses when the underlying asset moves against the position and may experience volatility decay during fluctuating markets.
Hylo team member Shoom previously said $xSOL and future xAssets will use adjusted rebalance bands ranging from 2.54x to 3.84x, compared with the previous 3x to 4.3x range. The change aims to reduce volatility decay across the product line.
$xBTC Advances Hylo V2’s Broader xAsset Strategy The launch follows Hylo’s June 17 announcement of Hylo V2, the protocol’s largest planned expansion to date.
At the center of V2 sits the xAsset Engine, a framework designed to support leveraged tokens across multiple markets. Hylo plans 4 main categories: xCrypto for assets such as $SOL and $BTC, xEquities for tokenized stocks and indexes, xCommodities for markets such as gold, silver, and oil, and xYield for yield-bearing assets.
Hylo has identified potential future equity products linked to TSLA, MSTR, SPY, and NDAQ. The protocol sees an established market for similar products in traditional finance.
V2 Reshapes Hylo’s Collateral and Rebalancing Model Hylo V2 also replaces its Stability Pool with an Earn Pool model and introduces multi-asset collateral. Under V2, the protocol plans to rely more heavily on arbitrageurs and liquidity providers for market-driven rebalancing.
When collateral values decline and leverage rises, the system can sell assets for $USDC. When leverage falls, available $USDC can purchase additional collateral.
Hylo also plans to expand $hyUSD backing beyond Solana liquid staking tokens. Its multi-asset architecture could incorporate Bitcoin, real-world assets, yield-bearing instruments, and $USDC as overflow collateral. Hylo has also explored deploying excess liquidity into tokenized Treasury products.
Turning Complex Strategies Into Tokens Solflare co-founder and CEO Vidor Gencel highlighted the token structure behind Hylo’s approach, arguing that protocols can reduce complexity by packaging strategies into assets that existing wallets and applications already support.
“A token that wraps your protocol's behavior rides on rails every wallet already has,” Gencel said. “If people can understand it, they can buy it.”
With $xBTC now live, Hylo has begun extending that model beyond $SOL. The protocol says $xBTC is only the beginning, with its xAsset framework eventually targeting any market that has reliable oracles, sufficient onchain liquidity, and a risk profile compatible with its system.
Read More on SolanaFloor Jito’s JTX Goes Live, Giving Solana DeFi Its First Professional-Grade Trading Venue
Introducing tradingFloor: A Thesis-Driven Livestream for Solana’s Onchain Traders
Bitcoin (BTC) built on gains at Tuesday’s Wall Street open as crypto echoed resilient US stock markets.
Key points:
BTC price action approached $67,000 despite new geopolitical and macroeconomic pressures.Neither the US-Iran war nor proposed international trade tariffs were able to disrupt risk-asset upside.Bitcoin needed a reclaim of its 21-week simple moving average to challenge the bear market, analysis warned.Bitcoin, stocks ignore Iran war, fresh US tariffsData from TradingView showed BTC/USD approaching $67,000, closing in on seven-week highs.
Upward momentum that began the day showed little signs of stopping despite macro conditions that seem to favor a risk-off mindset.
The US-Iran war saw further escalation on the day as Iran struck Amazon facilities in Bahrain in response to US strikes, while the Strait of Hormuz oil route remained closed.
As a result, WTI crude oil prices reached their highest levels in over a month, nearing $85 per barrel.
CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingView
Multiple media reported US president Donald Trump plans to introduce new 10% international trade tariffs. These would follow 50% measures imposed on Canada this week.
Despite these notional headwinds for crypto and risk assets, traders attributed the lack of bearish reactions to expectations that the situation would ultimately resolve in markets’ favor.
“Markets are pricing in peace,” YouTube channel host Crypto Rover summarized in a post on X to their 1.6 million followers.
Caleb Franzen, creator of Bitcoin and macro analysis resource Cubic Analytics, was confident about the near-term trend in the S&P 500 index.
“I reiterate... I have zero fear, concern, or worry with S&P 500 futures looking like this,” he told X followers on Monday.
To be sure, words of caution came from figures such as JPMorgan CEO, Jamie Dimon, who warned that markets were treating current risks too lightly.
BTC price needs 21-week trendline reclaim: AnalystWhile some traders looked for a retest of levels up to and including $70,000, Keith Alan, cofounder of trading resource Material Indicators, was conversely cautious on the BTC price outlook.
Despite a “golden cross” involving the 21-day and 50-day simple moving averages (SMAs) on Monday, the bear market, he warned, had gone nowhere.
“Bear Markets don’t always look like Bear Markets, especially in lower timeframes,” he wrote in his latest X analysis.
“The macro trend will be challenged if Bitcoin pushes above the 21-Week SMA. Until that happens, the Bear Market remains intact.”BTC/USD one-day chart with 21-week, 50-week SMA.
Source: Cointelegraph/TradingView
The 21-week SMA stood at $69,720 at the time of writing, coinciding with Bitcoin’s then-all-time high from 2021.
Alan acknowledged that there was “no real resistance” until $67,250.
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Nvidia’s latest chip designs are now in customers’ hands, and with an estimated 80-81% share of the data-center AI GPU market according to IDC data, the company isn’t just leading the AI chip race — it’s lapping the field.
The company confirmed that its newest hardware is shipping to customers. Bitcoin miners are increasingly repurposing their operations to serve AI workloads, creating a new intersection between the GPU supply chain and the digital asset industry.
The Rubin platform and what’s actually shipping The Rubin platform, Nvidia’s next-generation architecture, entered full production in early 2026. Partner systems built on Rubin are expected to become available in the second half of this year. The first cloud deployments of Rubin-based instances are anticipated from AWS, Google Cloud, and Microsoft.
Advertisement
H200 AI chips have begun shipping to China, though in minimal volumes as of mid-July. US export restrictions continue to limit what Nvidia can sell into the Chinese market.
Bitcoin miners pivot to AI, and Nvidia benefits either way Bitcoin miners, sitting on massive GPU infrastructure and access to cheap power, are increasingly redirecting their resources toward AI workloads. This shift means that instead of using Nvidia GPUs exclusively for traditional crypto mining operations, these companies are repurposing their hardware and facilities to serve the AI industry.
What this means for investors Nvidia’s 80-81% market share in data-center AI GPUs means that virtually every major AI deployment flows through Nvidia hardware. Nvidia’s CUDA software ecosystem creates substantial lock-in effects for developers and enterprises, making its offerings indispensable for training and inference in nearly all major AI labs and cloud service providers.
For crypto-adjacent investors, the Bitcoin miner pivot toward AI represents a potential valuation catalyst for publicly traded mining companies. Firms that can demonstrate meaningful AI hosting revenue alongside their mining operations may command higher multiples, since AI revenue is viewed as more predictable and less correlated to volatile crypto prices.
AMD, Intel, and a growing number of custom silicon efforts from cloud providers are all competing for Nvidia’s position. However, an 80-81% market share doesn’t erode overnight, especially given the high switching costs in enterprise compute tied to Nvidia’s architecture.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin’s price jumped Tuesday to its highest in over one month, bringing crypto stocks like Bitcoin treasury’s Strategy with it.
The Bitcoin price was recently priced at $66,886, up nearly 3% in 24 hours. Over the past seven days, the leading cryptocurrency has risen by close to 6%.
Its rise comes as stocks also trade higher — despite tensions in the Middle East flaring up again.
Nasdaq-listed Strategy (MSTR), formerly MicroStrategy, also jumped above $100 per share on Tuesday.
The price jump comes even as the Bitcoin juggernaut on Monday revealed it did not make its usual crypto buy, instead reporting the sale of a $225 million in MSTR shares, which it used for its dollar reserve.
Strategy stock plunged with the price of Bitcoin last year, and is currently well below its November 2024 peak of $473.83.
The software company, which started buying Bitcoin in 2020 as an inflation hedge, holds at 843,775 BTC, a position worth around $56.2 billion at current prices.
Other Nasdaq-listed crypto stocks, including America’s biggest crypto exchange, Coinbase (COIN) and Bitcoin miner Marathon Digital (MARA), also surged on Tuesday. COIN at the time of writing was up 11% and MARA was trading over 6% higher.
Middle East flare up Bitcoin’s price has taken a hit so far in 2026, and is currently down nearly 24% year-to-date. Since the leading crypto notched a new record of $126,080 in October, it has shed close to 50% of its value.
The asset first got hit hard in October when the biggest crash in the history of the industry liquidated more than $19 billion in crypto bets.
Then, crypto markets got hit harder after the U.S. and Israel attacked Iran in February, driving oil prices higher and deepening uncertainty around global inflation.
Investors are now not expecting the Federal Reserve to cut interest rates anytime soon. More inflation comes less chance of interest rate cuts, which restricts the liquidity that Bitcoin needs to surge.
Iran and the U.S. continue to fight, ending a truce, but Bitcoin seems immune to the latest flare up.
As of July 20–21, the U.S. carried out its 10th straight night of strikes on Iranian military targets, with Trump vowing retaliation for three American service members killed and the Pentagon reporting nearly 100 U.S. troops injured over two weeks.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Allen Konevsky, Chairman and Chief Executive of tZERO Group, one of only two firms to hold a special purpose broker-dealer licence from the US Securities and Exchange Commission, has said he has a long-term bias toward tokens that function as infrastructure ingredients rather than stores of value, singling out XRP and Ether as assets better suited to the future of tokenized capital markets than Bitcoin.
Bitcoin Versus XRP Question
Asked directly to choose between Bitcoin and XRP, Konevsky said the question is one he gets in various forms regularly, and that his answer consistently comes back to the same underlying principle.
“I have a long-term bias for native tokens that support infrastructure needs, that can be used as oil, as ingredients to build tool sets on,” he said. “Bitcoin historically has not shown itself to be that.”
His argument is that assets like XRP or Ether carry structural advantages for market participants building financial infrastructure because they are functional components of the systems they power. Bitcoin, by contrast, has established itself primarily as a monetary asset and store of value rather than an operational ingredient in financial architecture.
Konevsky acknowledged the answer would generate pushback, noting he expected considerable criticism, but maintained that for the specific context of building tokenized market structure, the distinction matters significantly.
AI and Blockchain as Complementary Forces
Konevsky described artificial intelligence and blockchain as complementary rather than competing technologies, and said the machine-to-machine economy emerging from AI will act as a forcing function for the tokenization of financial assets and records.
The logic is that as AI agents conduct autonomous transactions at scale, the need for efficient, programmable value transfer between those agents will create structural demand for tokenized assets and the infrastructure supporting them.
Real Estate as the Most Underrated Tokenization Opportunity
Asked to name the most underrated asset class for tokenization, Konevsky pointed to real estate without hesitation. Despite years of discussion, real estate tokenization has not achieved meaningful scale, and he attributed the shortfall largely to regulatory complexity around the securitization process for single-asset properties.
He said tZERO has discussed with the SEC the need to simplify the process of fractionalizing and tokenizing individual real estate assets, arguing that lowering those barriers would create the kind of user experience that would drive real adoption.
Regulatory Change He Would Make
Konevsky said his priority regulatory change would be to push further down the path of breaking down silos among regulated entities, a principle he said is built into the structure of the CLARITY Act.
“There is no reason why a regulated broker-dealer should not be allowed to do more with crypto,” he said.
tZERO holds a significant head start in that area, having been one of two firms to receive the special purpose broker-dealer designation that allows it to custody and accept crypto assets including stablecoins as part of the securities settlement process. But Konevsky argued that even that framework remains too restrictive, and that broker-dealers should be permitted to offer crypto directly as an investment product to clients with appropriate guardrails rather than operating within the current siloed structure.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
The proposed fund would hold WLD tokens directly and seek a Nasdaq listing under the ticker GWLD. Grayscale chose Nasdaq’s generic listing standards, a route that could shorten the regulatory review process. The filing highlights regulatory scrutiny surrounding World Network and concentration risks within the token’s supply. WLD rose following the announcement but remains well below its historical peak. ETF Would Track Worldcoin Price Directly According to the S-1 registration statement, the proposed ETF would passively hold Worldcoin (WLD) and track its performance using the CoinDesk Worldcoin Benchmark Rate, excluding fees and expenses. The fund would not use leverage, derivatives or active portfolio management.
If approved, the product would rely on several established financial institutions:
Ticker: GWLD Exchange: Nasdaq Custodian: BitGo Bank & Trust Administrator and transfer agent: BNY Mellon Trustee: CSC Delaware Trust Company Grayscale established the underlying Delaware statutory trust on July 10 before submitting its formal registration statement to the SEC on July 20.
Rather than pursuing a bespoke exchange rule change, the asset manager filed under Nasdaq’s generic listing standards, an approach that could reduce the time required for regulatory review. The preliminary prospectus leaves several details to be finalized through future amendments, including the management fee, seed capital and the share-to-token ratio.
Prospectus Details Risks Facing World Network The registration statement devotes significant attention to risks associated with the World Network ecosystem.
Among them is ongoing regulatory scrutiny of the project’s biometric identity verification system, which uses Orb devices to scan users’ irises. The filing notes that authorities in Germany, Spain, Portugal, Brazil, Hong Kong, Kenya and Indonesia have imposed restrictions, launched investigations or temporarily suspended aspects of the project.
Grayscale also points to token concentration as a potential risk. According to the prospectus, roughly 90% of circulating WLD is controlled by a relatively small group of wallets, while scheduled token unlocks for early investors and project contributors are expected to continue through mid-2028, increasing future supply.
The filing arrives as issuers continue broadening the range of crypto investment products available to U.S. investors following the approval of spot Bitcoin and Ethereum ETFs. A successful Worldcoin ETF would mark another step toward bringing smaller digital assets into regulated investment vehicles.
Technical Picture Improves, but Resistance Remains The ETF filing helped trigger a short-term recovery in WLD, with the token climbing roughly 3.5%–4.5% to trade around $0.38.
Source: TradingView The move lifted the price back above its 20-period moving average on the four-hour chart, a level that has recently acted as near-term support.
Momentum indicators also strengthened. The Relative Strength Index (RSI) rebounded to around 55, recovering from oversold conditions seen earlier in the week and signaling renewed buying interest without yet entering overbought territory.
Despite the rebound, the broader technical picture remains mixed. WLD continues to trade below its 50-period moving average near $0.389, while the 100-period ($0.394) and 200-period ($0.448) moving averages remain significantly higher. Those levels could act as resistance if the rally extends.
A sustained move above the 50-period moving average would be the first indication that short-term momentum is shifting in buyers’ favor. Breaking above the 100-period average could strengthen that view, while reclaiming the 200-period average would signal a broader trend reversal after weeks of downward price action.
For now, the recent bounce appears to reflect improving sentiment following the ETF filing rather than a confirmed change in the longer-term trend. Price remains well below the levels where WLD traded earlier this year, leaving buyers with several technical hurdles before a broader recovery can be established.
Altcoin season signals are beginning to improve, but the market has not confirmed a broad rotation. Bitcoin dominance remains high, and the ETH/BTC pair is still testing long-term support after years of underperformance.
MemeToro is building before that decision through a Stage 4 presale tied to AI-created memecoins, discovery dashboards, and planned trading products.
Ethereum Must Reverse Against Bitcoin Ethereum has underperformed Bitcoin since December 2021. Analysts view the ETH/BTC chart as the most important confirmation signal for a sustainable altcoin season.
Different market snapshots place the pair near long-term levels around 0.028 to 0.038 BTC. The precise figure changes with market timing, but the broader point remains the same: Ethereum must establish a bottom and begin outperforming Bitcoin.
Benjamin Cowen believes ETH/BTC is entering its final capitulation phase. He argues that altcoin season discussions remain premature until the pair firmly reverses.
A similar structure developed between 2019 and early 2021 before Ethereum led the previous major altcoin rally. That historical comparison is encouraging, but it does not ensure the same outcome in 2026.
Macro Conditions Are Slowly Improving Softer inflation has improved the wider case for risk assets. Core inflation recorded its largest decline in more than four years, reducing expectations for another Federal Reserve rate increase.
Bitcoin, Ethereum, gold, and silver initially responded positively. Easier policy would make cash less attractive and could improve liquidity for cryptocurrencies.
Global liquidity indicators are also becoming more supportive. Japan’s M2 money supply has historically led Bitcoin by roughly 84 days, while the US Dollar Index is testing resistance. A weaker dollar could provide additional room for crypto capital flows.
Altcoins outside the top 10 have recovered around 17% from their February bottom. Broader altcoin performance against Bitcoin has improved by approximately 23% since December, showing that the gap is beginning to narrow.
MemeToro Combines Two Active Narratives MemeToro is positioned around AI agents and memecoin infrastructure rather than waiting for every altcoin to rise.
Its AI agent monitors social activity, communities, and global news for narratives gaining momentum. It can then generate the token name, concept, branding, visuals, and marketing content.
The planned benefits include:
AI-powered trend detection Automated token creation No insider pre-allocation Early tracking dashboards PancakeSwap migration Creator trading-fee rewards MemeToro plans to connect these launches with staking, swaps, prediction markets, and news discovery. This gives $MT several potential uses if the platform gains active users.
Stage 4 Creates A Breakout Setup The MemeToro presale has raised $80,178.47 in Stage 4, reaching 73.28% of its $109,411.90 goal.
Buyers can currently obtain $MT for $0.00232. The project has scheduled a launch price of $0.01875, about 8.08 times the Stage 4 rate.
This creates a possible pricing catalyst, but it does not guarantee that the public market will maintain the launch valuation. A breakout requires sufficient liquidity and buyer demand.
Participants can use BNB, ETH, stablecoins, or bank cards. Their allocations are expected to become claimable when MemeToro officially launches.
Altcoin Season Signals Remain Conditional A MemeToro breakout would benefit from stronger altcoin conditions, but the project cannot depend only on market rotation.
Ethereum must first reverse against Bitcoin, broader liquidity must improve, and Bitcoin dominance needs to decline before a full altcoin season becomes convincing.
MemeToro has its own catalyst because Stage 4 is approaching capacity and its platform targets two active sectors. AI agents are gaining blockchain use, while the memecoin market is shifting toward products with trading and discovery infrastructure.
The current altcoin season signals support cautious optimism. MemeToro is positioned before a possible rotation, but product delivery will determine whether it can turn favorable timing into sustained performance.
FAQs What Could Trigger Altcoin Season? A firm ETH/BTC reversal, lower Bitcoin dominance, softer monetary policy, and improving global liquidity could support a wider altcoin rally.
Why Could MemeToro Benefit? MemeToro combines AI agents with memecoin utility, giving it a focused narrative if capital begins rotating into smaller cryptocurrencies.
More Information on MemeToro ($MT) Presale Here:
Website: https://memetoro.com/
X: https://x.com/memetoro_mt
Telegram: https://t.me/memetoro_mt
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Cardano's ADA is among the top performers in the past 24 hours.
Bitcoin’s price rebounded swiftly after the Monday morning dip below $64,000 and has gained over two grand since then, climbing to a monthly peak of over $66,000.
The altcoin space has turned green as well. ETH is inching closer to $1,950, XRP is testing the $1.13 resistance, while ADA has stolen the show from the larger caps.
BTC Sees Monthly Peak The previous business week began on a familiar note, as BTC priced in the weekend attacks in the Middle East and dropped below $62,000 from over $64,000. The bulls stepped up after the favorable CPI data for June, pushing the asset to $65,500 for the first time in three weeks.
However, its progress stalled there, and bitcoin dipped to $62,500 by Friday. Nevertheless, the bulls were more persistent once again and initiated an immediate recovery right before and during the weekend, in which the cryptocurrency climbed back to $64,000.
It tried to take down $65,000 on Sunday, but it was stopped and dropped once again on Monday morning. This time, it was a lot less painful, and it quickly rebounded from the daily low of $63,750.
It jumped past $65,500 earlier today before another leg up drove it to its highest price tag since June 17 at $66,300. It remains above $66,000 as of press time, and its market cap has jumped to $1.330 trillion on CG. Its dominance over the alts is also on the rise, currently at 57.2%.
BTCUSD July 21. Source: TradingView Alts Turn Green As mentioned above, green dominates almost all altcoin charts. Ethereum is challenging the $1,950 level before a potential run to $2,000. BNB has neared $580, while XRP and HYPE are up by approximately 4% daily. DOGE, ZEC, and XLM have marked similar gains, while Cardano’s native token has exploded by over 8% and now trades at a local peak of $0.175.
Impressive daily increases are evident from BCH, UNI, AAVE, DOT, and WLD. ONDO has rocketed by over 14% and sits close to $0.40.
The cumulative market capitalization of all crypto assets is up by $70 billion in a day. The metric has climbed to $2.320 trillion for the first time in a month.
Cryptocurrency Market Overview July 21. Source: QuantifyCrypto
While the leading cryptocurrency Bitcoin has climbed above $66,000 with the upward momentum it has gained in recent days, the picture also looks positive for altcoins.
However, Santiment warns against the rise in the short term for BTC and some major altcoins.
In this context, the cryptocurrency analysis platform Santiment examined MVRV ratios. As recovery signals for BTC and altcoins strengthen, the 30-day MVRV ratio of the cryptocurrencies with the highest market capitalization has risen back above the neutral level.
According to Santiment, major cryptocurrencies, including Bitcoin (BTC), Ethereum, and XRP, have entered profit-taking territory in the last 30 days. This indicates that investors who bought BTC, ETH, XRP, Cardano (ADA), and Chainlink (LINK) in the last 30 days have made a slight profit rather than incurring losses.
Santiment analysts believe that the recovery is driven by lower-than-expected inflation data, increased risk appetite in global markets, and renewed demand for spot Bitcoin ETFs.
While the MVRV ratio entering positive territory is considered a positive development, Santiment warned that this could trigger increased selling pressure in the short term due to profit-taking. This means that even if prices continue to rise, selling pressure could intensify.
According to Santiment, positive MVRV data supports the idea that the recovery is progressing healthily, but if the upward momentum weakens, short-term investors may want to realize their profits, increasing price volatility.
“…Positive MVRVs tell us that the recovery is real, while also reminding bulls that short-term gains could lead to faster sell-offs if momentum starts to cool.”
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Tether advisor Gabor Gurbacs breaks down why $65,000 Bitcoin is structurally lightyears ahead of 2021's leverage-heavy top.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
His main argument is that the price has remained the same, but the internal structure of the market has been completely transformed.
While the 2021 all-time high was driven by pure hype, regulatory uncertainty, and excessive leverage, by July 2026 the landscape had changed beyond recognition, with spot ETFs, interbank gateways for institutional investors, and clear rules established by governments.
HOT Stories
Bitcoin price chart with recent post from Gabor Gurbacs, Source: TradingViewAccording to Gurbacs, once the market clears out the remaining leveraged speculators, real price discovery will begin.
Why institutional players want $65,000 BitcoinData from the SoSoValue analytics platform supports the Tether adviser's view and closely reflects actual financial flows:
Funds are buying the sideways market: Major capital is methodically accumulating during the current consolidation. During the July 20 trading session, spot Bitcoin ETFs recorded net inflows of $226.92 million, with these purchases taking place while Bitcoin traded at $65,142.Five-day buying rally: Institutional investors are showing consistent interest after closing every session last week with positive inflows ranging from $79 million to $181 million per day. June's outflows have now been fully offset.Capital base: Total net assets under management in Bitcoin ETFs have approached $79.16 billion.Bitstamp's technical chart shows that after the spring correction from the peak near $126,000, Bitcoin found a solid bottom in the $55,700–$58,200 zone. The asset is now holding around $64,210, while indicators, including the daily RSI, suggest that buyers are taking control.
You Might Also Like
The main conclusion from the current news flow is that the $64,000–$65,000 range is no longer the "dangerous peak" it appeared to be five years ago. For Wall Street, it is now a comfortable accumulation zone and a new reinforced foundation from which major capital is preparing to push the market higher.
Binance, one of the world’s largest cryptocurrency exchanges, has announced its support for the planned network upgrade and hard fork on the Zcash (ZEC) network. According to the exchange’s statement, deposit and withdrawal operations on the Zcash network will be temporarily suspended to ensure a smooth user experience.
Binance will cease deposits and withdrawals for the Zcash (ZEC) network on July 28, 2026, at 3:00 PM. The network upgrade and hard fork will occur at block number 3,428,143, approximately at 4:00 PM on the same day. The exchange stated that it will manage all necessary operational processes internally to ensure a smooth technical transition.
The company emphasized that the maintenance work would only affect deposit and withdrawal transactions on the network. Accordingly, trading of ZEC tokens on Binance Spot and other supported trading platforms will continue uninterrupted. Users will not need to take any additional steps to conduct transactions.
Binance also stated that all technical requirements that may arise as part of the network upgrade and hard fork will be met on behalf of users. This means that ZEC holders will not need to perform any manual actions or transfer their tokens to a different wallet.
The exchange announced it will reopen deposits and withdrawals after ensuring the Zcash network is stable and secure following the upgrade. It was also stated that no new announcement will be issued for this process, and services will be automatically reactivated depending on the network’s stability.
Cryptocurrency exchanges are taking similar measures to ensure the security of user assets during upgrade and hard fork processes on their blockchain networks.
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
TL;DR
Bitcoin's quantum discount hit a record 30% as Core developers resist freezing dormant addresses and Galaxy Digital launches a $5 million Quantum Readiness programXRP's 30-day MVRV turned positive, but the token still faces resistance at $1.146 and a bigger trend barrier at $1.416A new whale moved $2.76 million in SHIB off Coinbase to a fresh wallet, the second major withdrawal this week as the token consolidates near multi-month lowsBitcoin ETFs posted $727 million in net inflows over five days even as Bitcoin Knots developers and Michael Saylor clash over the BIP-110 proposalThursday's US jobless claims data is the next volatility catalyst ahead of the Federal Reserve's meeting later this month30% for fear: Why Bitcoin is trading at a quantum discountBitcoin's quantum discount has reached 30% for the first time in history, according to fresh data from the Capriole Investments model. With the current market price at $65,472, investors are pricing in an unprecedented risk discount: fundamentally, the asset is valued at almost twice as much, but uncertainty surrounding Q-Day continues to drag the price lower.
The discount continues to deepen, as it stood at 28% at the beginning of the summer.
HOT Stories
Capriole founder Charles Edwards added fuelby publicly taking aim at Bitcoin Core developers and directly asking whether they planned to do anything about the issue.
Bitcoin price chart to USD with discount factor, Source: Charles Edwards via XThe technical deadlock is that Google Quantum AI confirmed this spring that algorithms capable of breaking the secp256k1 curve, which underpins Bitcoin's security, are accelerating. To implement post-quantum protection, Core developers would have to forcibly freeze old "dormant" addresses, including Satoshi Nakamoto's one million coins — a step they are not prepared to take.
While Grayscale considers the panic premature, Citi analysts are warning about a "harvest now, decrypt later" strategy: hackers are already copying mempool traffic in order to crack it retroactively. Against the backdrop of Ethereum's migration to new signature schemes, Core's technological hesitation is costing the market exactly 30% in unrealized value.
While developers delay, businesses are taking the initiative. Galaxy Digital has launched a $5 million Quantum Readiness program to fund grants aimed at protecting the network from Shor's algorithm. Market momentum is building: Coinbase advisers are demanding an immediate code migration, while Project Eleven analysts predict that machines capable of threatening modern cryptography could emerge as early as 2030–2033.
XRP exits the "fear zone": Traders are profitable again, but the chart remains tenseInvestors who accumulated XRP over the past month have finally moved out of the red. According to Santiment analysts, the 30-day MVRV indicator for XRP and other major altcoins, including ETH, ADA and LINK, has crossed above zero, meaning that short-term wallets are now showing a small profit.
The turning point came after Bitcoin's comeback to $65,000. The market was supported by softer US inflation data and fresh inflows into crypto ETFs, which noticeably revived buyers, while the "Fear Buy Zone" of relatively safe bottom buying was left behind.
The rebound is real, but since traders are no longer sitting on losses, they now have a natural incentive to take profits. Any sign of the market cooling could trigger a rapid wave of selling.
Top cap 30-day MVRV comparison, Source: Santiment and SanbaseOn the daily chart, XRP is currently trading near $1.1331, up around 3.5% since the beginning of the week. The price found local support slightly above the psychological $1.00 level and is attempting to develop a full-fledged rebound.
Meanwhile, the Relative Strength Index has settled in neutral territory at 55, confirming that panic selling has stopped and buyers have gained some room to maneuver.
However, it is still too early to celebrate a global reversal, as the asset has now run into resistance at the short-term moving average near $1.1459. The main challenge for bulls remains the heavy long-term trend level around $1.4159.
Only a decisive breakout above this level would prove that XRP has finally broken the downtrend and is ready for significant growth.
Why are new whales vacuuming up SHIB at the local bottom?While retail traders are bored by the summer flat market, major players are quietly vacuuming up supply. According to Arkham Intelligence, Coinbase Prime has recorded a series of large Shiba Inu withdrawals to newly created wallets with no previous transaction history.
The main event was the transfer of 645.928 billion SHIB, worth around $2.76 million, to the address "0xd017dBe7C45".
This is already the second major purchase in a week. Just yesterday, another unknown whale withdrew 162.43 billion SHIB, worth approximately $672,000, from the same platform.
Why are they doing this? Moving tokens to private wallets removes them from exchange order books and reduces the available supply.
History of transactions of '0xd017dBe7C45' with Shiba Inu (SHIB) coin, Source: Arkham IntelligenceThe SHIB chart clearly shows that large capital is carefully buying the local bottom. After a prolonged decline from the May highs, the price found firm support in the $0.00000412–$0.00000423 range, where a bullish RSI signal formed.
The asset is currently trapped in a narrow corridor and trading at $0.00000428. However, the moving average at $0.00000450 is limiting the price from above, while the global downtrend, shown by the red line, remains much higher at around $0.00000594.
Major players are clearly using this prolonged consolidation and reset RSI to accumulate without drawing attention before a potential breakout from Shiba Inu's multi-month decline.
Crypto market outlook: Bitcoin ETFs stage a $727 million comeback while Saylor fights for codeThe crypto market appears to have found a local bottom. Spot Bitcoin ETFs snapped a steep outflow streak, pulling in around $727 million in net inflows over the past five days.
Institutional investors are adding fresh capital while a dispute over the BIP-110 upgrade splits Bitcoin's developer community. Bitcoin itself is holding in the $65,700–$67,200 range after US funds absorbed $227 million on July 20 alone.
Total Bitcoin Spot ETF Net Inflow over the last 30 days, Source: SoSoValueKey checkpoints:
ETFs are back in the game: After a prolonged period of capital outflows, Bitcoin funds delivered a five-day inflow streak of $727 million, their best result in almost three months. Ether ETFs added another $38 million on the same day, pointing to fading seller pressure.Bitcoin is holding its ground: The leading cryptocurrency is locked in a narrow range between $65,700 and $67,200. A breakout above resistance would open the way toward local highs, while a drop below support would put the market under pressure.BIP-110 splits developers: Bitcoin Knots developers, whose software runs around 23% of nodes, want to limit OP_RETURN to 83 bytes to cut spam transactions, NFT inscriptions and shitcoins off the network. Michael Saylor has publicly opposed the upgrade, calling it censorship and "monetary purity imposed from above." Opponents counter that market fees, not code restrictions, should regulate network use.Macroeconomic trigger: The main volatility catalyst this week arrives Thursday, July 23, when the US releases initial jobless claims data. The reading will shape rate expectations ahead of the Federal Reserve's meeting later this month. You Might Also Like
The Japanese yen's exchange rate against the US dollar has hit its lowest level since 1986.
According to Bitget market data, the Japanese yen weakened against the U.S. dollar, hitting 162.89, marking its lowest level since 1986.
6 minutes ago
An unnamed whale has been steadily adding to its WBTC and ETH positions this month, now sitting on over $12 million in unrealized gains.
According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale that has accumulated over $109 million in positions since July added an additional $9.87 million worth of WBTC in the past 24 hours. The whale currently holds 49,500 ETH and 600 WBTC, with a total value of $122 million, an average cost basis of approximately $1,706 per ETH and $63,950 per WBTC, and an unrealized profit of $12.593 million.
6 minutes ago
SemiAnalysis: The power gap in AI data centers is widening, and reciprocating engines may become the leading technology for behind-the-meter power supply.
Independent semiconductor and AI research firm SemiAnalysis reports that the rapid growth in AI computing power demand is transforming power supply models for data centers. Reciprocating engines, historically used primarily as backup power during grid outages, are being repositioned as baseload power sources operating around the clock. This year, reciprocating engine manufacturers have signed contracts for roughly 1GW of behind-the-meter (BTM) power projects, with annual new supply volumes projected to exceed 4GW in 2027 and 2028. After modeling U.S. grid capacity, SemiAnalysis notes that existing power reserves are expected to be exhausted between 2027 and 2028, and planned additions to utility-scale power generation capacity through 2030 remain insufficient to meet the new load demand from data centers. Combining its data center model, SemiAnalysis estimates that roughly 140GW of potential data center projects have not yet finalized power supply contracts, and many of these will likely adopt behind-the-meter power models to bypass grid expansion bottlenecks. Among behind-the-meter power technologies including reciprocating engines, aeroderivative gas turbines, and fuel cells, SemiAnalysis projects reciprocating engines will capture the largest market share. The firm cites their combination of low cost, rapid deployment, modular scalability, and stronger financing capabilities as key advantages, while equipment manufacturers including Caterpillar, INNIO, and Cummins are expanding production capacity to support large-scale deployments in the coming years. As AI data centers continue to expand, on-site self-generated power is evolving from a traditional backup resource to critical energy infrastructure, and reciprocating engines are poised to become a key solution for bridging power gaps in the computing power era.
6 minutes ago
Venezuela’s largest fintech firm Cashea completes $100 million funding round.
According to Bloomberg, Venezuela’s largest fintech company Cashea has raised a total of $100 million across two financing rounds. Global investors are betting on the firm’s ability to achieve growth in a market long plagued by credit constraints. Cashea announced it closed a $60 million Series B round in June, led by FinSight Ventures, with participation from Endeavor Catalyst, Plug and Play, U.S. university funds including Washington University in St. Louis, and Latin American investors. Earlier, Cashea completed a $40 million Series A round in March, led by Spice Expeditions. The round included $20 million in equity financing and $20 million in debt financing provided by Architect Capital.
6 minutes ago
WTI crude oil's intraday gain has widened to 3%.
Per Bitget's market data, WTI crude oil's intraday gain has widened to 3%, now trading at $85.40 per barrel. Brent crude oil climbed 2.16% to $89.4 per barrel.
6 minutes ago
Ionic Digital to list on Nasdaq on July 28 under stock ticker IOND.
Ionic Digital expects its shares to begin trading on the Nasdaq Global Select Market on July 28, after the U.S. Securities and Exchange Commission (SEC) declared its registration statement effective, clearing the final major regulatory hurdle for the company’s long-planned listing. According to a company statement, Ionic’s stock ticker will be “IOND”. The firm opted for a direct listing rather than a traditional initial public offering (IPO), meaning it will not issue new shares nor receive any proceeds from the transaction; instead, existing registered shareholders will be able to sell their holdings on the public market. Ionic was originally formed to take over Bitcoin mining assets from the Celsius estate, before pivoting to position itself as a broader digital infrastructure company serving artificial intelligence (AI) and high-performance computing (HPC) workloads. The company first submitted its Form S-1 registration statement earlier this month. Ahead of the listing, Ionic has raised roughly $400 million to support data center construction and fuel its business shift from Bitcoin mining to a wider digital infrastructure focus.
In the US, spot ETFs have been launched for many altcoins, following Bitcoin and Ethereum.
These altcoins include XRP, Solana, and HYPE, while an ETF application has also been filed for a very surprising altcoin.
In this context, crypto asset management company Grayscale has filed an application with the SEC to launch the first Worldcoin ETF in the US.
If the application is approved, the fund will be the first ETF to offer direct investment in WLD on US markets.
According to the S-1 filing submitted to the SEC, the Grayscale Worldcoin ETF will hold WLD directly. If approved, the fund is planned to be listed on the Nasdaq Exchange under the ticker symbol “GWLD”.
Thus, investors will be able to gain exposure to Worldcoin through a regulated investment product without having to directly buy or hold the WLD token.
The application states that the fund will follow a passive investment strategy, not using derivatives or leverage, and that custody services will be provided by BitGo Bank & Trust.
The announcement of an ETF application for WLD has stirred the market and its price. Following the news, the WLD price rose by approximately 4-5% during the day, and investors began closely monitoring the approval process.
Experts say that a potential approval could accelerate Worldcoin’s adoption by institutional investors.
With this application, the total number of cryptocurrency ETFs managed by Grayscale has risen to 18. Previously, they had ETFs for assets such as Bitcoin (BTC), XRP, Solana (SOL), Ethereum (ETH), Dogecoin (DOGE), and Chainlink (LINK).
*This is not investment advice.
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
According to Hyperinsight monitoring, SPCX on Hyperliquid continues its downward trajectory, currently trading at $120.66, down 47.5% from its prior high of $230. SpaceX priced its IPO at $135 per share, and SPCX has now dropped roughly 10.6% below the IPO price, hitting a daily low of $119.7. The whale address starting with 0x899c, previously tracked, went long on SPCX just ahead of the positive news that the stock would be added to the Nasdaq. For over a month after that, the address made no adjustments to its position, leaving it untouched as the positive catalyst was priced in, and through the subsequent continuous decline and drop below the IPO price, bringing the position to the brink of liquidation with only about $4 of buffer remaining. It bought 16,082.2 SPCX shares on the morning of June 15, and has not altered its position size since. As of press time, the whale holds this long position with 3x isolated margin, with the position valued at approximately $1.94 million, an unrealized loss of around $756,000, and a return of roughly -84.1%; the liquidation price is about $116.6. The account currently has only $111,500 in margin left, all of which is used to maintain this position. Trading records show this whale is a left-side trader, who earned a $620,000 profit from a long Bitcoin position in early March; subsequent long crude oil positions and this SPCX position have together erased all those gains. Previous news: A whale went all-in long on SPCX with $2.72 million, expecting the stock to rally ahead of its addition to the Nasdaq 100.
Relevant content
A crypto whale transferred 431,000 LINK tokens to a Gnosis Safe multi-signature wallet.
According to monitoring by OnchainLens, a crypto whale has transferred 431,000 LINK tokens (valued at approximately $3.76 million) to a Gnosis Safe multi-signature wallet. The whale had previously withdrawn LINK multiple times from the Binance exchange over the past three weeks via two separate wallets, and has been steadily accumulating the token.
4 minutes ago
Abraxas Capital withdrew 20,000 ETH from Aave, valued at approximately $38.47 million.
According to monitoring by Onchain Lens, Abraxas Capital has just withdrawn 20,000 ETH (approximately $38.47 million) from Aave.
4 minutes ago
Wanchain-Cardano cross-chain bridge exploited, approximately 515 million NIGHT tokens stolen.
According to monitoring by BlockSec Phalcon, Wanchain’s Cardano cross-chain bridge was exploited, with approximately 515 million NIGHT tokens stolen from the bridge’s Treasury. BlockSec’s preliminary analysis attributes the root cause of the vulnerability to the non-injective encoding method used by the TreasuryCheck verifier for signed messages: 14 variable-length fields were directly concatenated to generate the message to be signed, without using separators or length prefixes. This allowed different field combinations to produce identical byte sequences, enabling attackers to reuse valid signatures to carry out the exploit.
4 minutes ago
Bitget has launched 8 stock perpetual contracts including NVDL, TSLL and others.
According to an official announcement, Bitget has launched 8 US equity leveraged and ETF perpetual contracts, including NVDL (2x long Nvidia ETF), TSLL (2x long Tesla ETF), AAPU (2x long Apple ETF), MSFU (2x long Microsoft ETF), and other products. All contracts are settled in USDT, support up to 20x leverage, and enable 24/7 trading. As of press time, Bitget’s stock contracts cover a total of 230 underlying assets. For more details, please refer to Bitget’s official platform.
4 minutes ago
OKX launches RLUSD holding yield activity, with annualized yield up to 10%
According to official announcements, OKX will launch the RLUSD Holding Yield Program on July 21, 2026. Users holding RLUSD will automatically earn holding yields without requiring subscription, redemption, or asset locking; the first 2,000 RLUSD of each user’s holding will enjoy a 10% annualized return. Additionally, VIP users can receive an annualized return of up to 4.1% with no cap on their holdings, while regular users will get a 3.5% annualized return. Rewards can be distributed in either RLUSD or XRP, and users can participate in the program and check their holdings and earnings via the "Earn" — "RLUSD Rewards" section in their OKX accounts. It is noted that RLUSD is a U.S. dollar-pegged stablecoin issued by Standard Custody & Trust Company, a subsidiary of Ripple.
4 minutes ago
Nikkei 225 index gains widened to 3%
According to Bitget market data, the Nikkei 225 index continued to rise in late trading, gaining 3% intraday and currently trading at 66079.56 points.
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.
Abraxas Capital withdrew 20,000 ETH from Aave, valued at approximately $38.47 million.
According to monitoring by Onchain Lens, Abraxas Capital has just withdrawn 20,000 ETH (approximately $38.47 million) from Aave.
5 minutes ago
Wanchain-Cardano cross-chain bridge exploited, approximately 515 million NIGHT tokens stolen.
According to monitoring by BlockSec Phalcon, Wanchain’s Cardano cross-chain bridge was exploited, with approximately 515 million NIGHT tokens stolen from the bridge’s Treasury. BlockSec’s preliminary analysis attributes the root cause of the vulnerability to the non-injective encoding method used by the TreasuryCheck verifier for signed messages: 14 variable-length fields were directly concatenated to generate the message to be signed, without using separators or length prefixes. This allowed different field combinations to produce identical byte sequences, enabling attackers to reuse valid signatures to carry out the exploit.
5 minutes ago
Bitget has launched 8 stock perpetual contracts including NVDL, TSLL and others.
According to an official announcement, Bitget has launched 8 US equity leveraged and ETF perpetual contracts, including NVDL (2x long Nvidia ETF), TSLL (2x long Tesla ETF), AAPU (2x long Apple ETF), MSFU (2x long Microsoft ETF), and other products. All contracts are settled in USDT, support up to 20x leverage, and enable 24/7 trading. As of press time, Bitget’s stock contracts cover a total of 230 underlying assets. For more details, please refer to Bitget’s official platform.
5 minutes ago
OKX launches RLUSD holding yield activity, with annualized yield up to 10%
According to official announcements, OKX will launch the RLUSD Holding Yield Program on July 21, 2026. Users holding RLUSD will automatically earn holding yields without requiring subscription, redemption, or asset locking; the first 2,000 RLUSD of each user’s holding will enjoy a 10% annualized return. Additionally, VIP users can receive an annualized return of up to 4.1% with no cap on their holdings, while regular users will get a 3.5% annualized return. Rewards can be distributed in either RLUSD or XRP, and users can participate in the program and check their holdings and earnings via the "Earn" — "RLUSD Rewards" section in their OKX accounts. It is noted that RLUSD is a U.S. dollar-pegged stablecoin issued by Standard Custody & Trust Company, a subsidiary of Ripple.
5 minutes ago
Nikkei 225 index gains widened to 3%
According to Bitget market data, the Nikkei 225 index continued to rise in late trading, gaining 3% intraday and currently trading at 66079.56 points.
5 minutes ago
ZHIPU has rebounded 31% from its recent low, with new short positions opened against the trend losing nearly 40% of their principal.
According to Hyperinsight monitoring, ZHIPU on Hyperliquid saw a sharp rebound today to $149.52, with a 31.1% gain from its intraday low to high. As of press time, ZHIPU trades at $146.71. Background: Zhipu (ZHIPU) completed a placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released its 2.8-trillion-parameter open-source model Kimi K3, which intensified market concerns over China’s large language model competitive landscape, leading to a sustained slump. The stock price halved after the H-share offering, and today it has recouped a portion of those losses. During this rebound, an address starting with 0x52e6 took a contrarian short position early today, with all orders opened at the midpoint of the rally. The address initiated shorts when the stock rose ~12% from its low, adding to positions from $127.5 to $143.2. The position then saw continued gains before noon, leaving only ~$17 of buffer to its liquidation price. It currently holds ZHIPU short positions with 5x isolated margin, worth ~$198,700, with a liquidation price of ~$163.83. The position has an unrealized loss of ~$14,100, a return of ~-38.1%, and has nearly lost 40% of its initial margin. Monitoring shows that, aside from this largest loss-making position, there are 7 new ZHIPU positions exceeding $50,000 opened in the last 2-3 hours during today’s rebound—all short positions, totaling ~$953,200 in value, all currently underwater with a combined unrealized loss of ~$70,800. In contrast, among long positions exceeding $100,000, the average cost is ~$149.66, only ~2% above the current price. Currently, only the largest long position near $159.41 faces real liquidation pressure; the cost lines of the other four long positions have already been reclaimed by the current price.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin (BTC) edges above $65,000 on Tuesday, following the breakout of the 50-day Exponential Moving Average (EMA) at $65,051 the previous day. Easing crypto market risk-off sentiment provides tailwinds for altcoins, supporting an extended recovery. Virtuals Protocol (VIRTUAL) and Uniswap (UNI) have emerged as top performers over the last 24 hours.
CoinMarketCap’s Fear and Greed Index at 37 indicates a steady recovery in market sentiment, suggesting improving investor confidence.
Fear and Greed Index. Source: CoinMarketCapBitcoin extends gains above $65,000Bitcoin holds above the 50-day EMA at $65,051 but remains well below the 200-day EMA at $74,693, which continues to cap the broader trend. This alignment suggests a neutral-to-mildly constructive near-term bias, with the recent recovery supported by the short-term EMA, while the longer-term gauge serves as a distant ceiling.
Momentum is positive, as the Relative Strength Index (RSI) hovers near 57 and the Moving Average Convergence Divergence (MACD) ascends above the zero line, hinting that buyers retain an advantage but face a heavy higher-timeframe barrier.
On the topside, initial resistance is at the $70,000 mark, with a subsequent hurdle aligning near the 200-day EMA at $74,693, where supply could intensify.
BTC/USDT daily price chart.On the downside, immediate support is seen at the 50-day EMA at $65,051, and a deeper pullback would expose the horizontal floor at $60,000, a psychologically important level that previously underpinned the broader structure.
Virtuals Protocol and Uniswap gain bullish momentumVirtuals Protocol extends gains on Tuesday, following a 4% surge the previous day. VIRTUAL token holds above the 50-day EMA at $0.6083, reinforcing a constructive near-term bias.
From a technical perspective, the recovery is heading toward the 50% retracement at $0.7426, measured from $1.1984 to $0.4602. Momentum supports the bullish tone, with the RSI hovering near 61 and MACD in positive territory, suggesting ongoing upside pressure.
VIRTUAL/USDT daily price chart. On the downside, initial support is located around the 50-day EMA at $0.6083; a break below this cluster would expose the structural floor near the 23.6% Fibonacci level at $0.5768.
Uniswap maintains a constructive bullish bias as price holds above the 50-day EMA at $3.2688. The DeFi token tests the 78.6% Fibonacci retracement, measured from $4.1700 to $2.3160, at $3.6769. A decisive close above this level could face an overhead barrier at the 200-day EMA at $3.8672, followed by the Fibonacci anchor at $4.1700.
The RSI at 64 stays in positive territory without reaching overbought, while the MACD hovers just above zero with a flattening profile, suggesting bullish momentum is still present but losing some intensity.
UNI/USDT daily price chart.On the downside, initial support is located at the 50-day EMA at $3.2688 and the 50% retracement at $3.1077.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto asset manager Grayscale on Monday filed an S-1 registration statement for the first US Worldcoin ETF, which would give investors a way to gain exposure to the WLD token through an exchange-traded product.
According to the preliminary prospectus, the Grayscale Worldcoin ETF is intended to list on the Nasdaq under the symbol GWLD.
BitGo Bank & Trust would custody the Worldcoin (WLD), while BNY Mellon would serve as administrator and transfer agent. CSC Delaware Trust Company would serve as a trustee.
The filing does not yet disclose details on management fees, seed investment, authorized participants or liquidity providers.
WLD is an ERC-20 token built on the Ethereum blockchain that serves as the native token of World, a project that uses biometric verification to distinguish humans from bots, which was founded by OpenAI CEO Sam Altman.
The proposed Worldcoin ETF adds to 17 crypto-related exchange-traded products offered by Grayscale, including those tracking Bitcoin (BTC), XRP (XRP), Solana (SOL), Ether (ETH), Dogecoin (DOGE) and Chainlink (LINK).
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Bitcoin [BTC] has absorbed a run of blows, and although sentiment looks steadier with the asset testing $64,500 again, the market has yet to earn a bullish label.
Traditional investors appear to be circling back, adding $75.76 million in inflows between the 13th and the 17th of July, yet several forces keep the market in a cautious state. Long-term holders remain at the center of that caution.
Bitcoin long-term holders still need watching Long-term holders are investors who have held their coins for no less than 155 days without moving them, and on-chain data shows this group selling at a loss rather than a profit.
The 7-day moving average of the long-term holder SOPR – the Spent Output Profit Ratio (SOPR), which measures whether coins move at a profit or a loss – sits at 0.94 at press time, below the breakeven mark of 1.
That reading tells us long-term holders have parted with their Bitcoin at roughly a 6% loss so far.
Source: CryptoQuant The figure marks a sharp improvement from earlier in the cycle, when the group sold at a 27% loss and the LTH SOPR fell to 0.73.
Less selling does not translate to full conviction, and the improvement does not mean the market has locked in a rebound, so long-term holders remain exposed to further price swings.
The monthly picture reinforces that caution, with the LTH SOPR showing these investors selling at a 12% loss since June.
History still offers a counterweight, as prolonged stretches of loss-taking have often preceded Bitcoin rallies, including the 2020 and 2023 runs to fresh all-time highs after the market exited similar phases.
Exchange CDD points to short-term holder dominance Exchange Coin Days Destroyed (CDD) weights each moving coin by how long it stayed dormant, which lets analysts see whether long-term or short-term holders drive the coins landing on exchanges, and the metric currently marks short-term, active participants as the dominant force.
An elevated Exchange CDD normally signals that sellers control the market as selling pressure builds, a classic bearish read, yet the opposite is playing out here and points to a more relaxed phase.
Source: CryptoQuant Fewer long-term holders are moving coins, and with that group nursing losses of only about 6%, the setup leans constructive and raises the odds of a faster recovery from current levels.
The exchange reserve reflects that shift, and although long-term holders do not dominate the reserve, they contribute to a decline that has carried it from a high of 2.718 million BTC to 2.704 million BTC.
That drop returns the reserve to its late-June footing, around the 24th of June.
Will US investors keep funding? Economic pressures and the threat of resurgent inflation still weigh on the market.
Inflation cooled over the past week on official readings, yet concern has climbed as the conflict involving the US, Iran, and Israel has escalated. Oil has answered the tension, with WTI crude climbing to $85.59 at Monday’s open, its highest level since the 12th of June.
The inflation worry runs largely through oil, since rising crude lifts production costs across the economy and increases the risk-off mood—and Bitcoin depends on risk-on appetite. Should oil continue to climb, US investors may reduce their exposure through spot US Bitcoin ETFs.
Final Summary Long-term holders have eased their selling, now offloading at a 6% loss versus 27% earlier. Bitcoin still needs a risk-on appetite, so rising oil and fresh inflation fears could push US investors to trim exposure.
Analysts warn that elevated yields may reduce investor appetite for speculative assets by making safer returns more attractive.
A recent auction of 30-year Treasury bonds, sold at a yield of 5.06%, has brought rising long-term US borrowing costs back into focus.
Specifically, it has revived concern among certain market observers about how tighter monetary conditions could impact Bitcoin (BTC) and other risky assets, just as investors are getting ready for the Fed’s next policy meeting.
Treasury Yields Hit a Post-2007 High That 5.06% print is the highest 30-year auction yield since 2007, and it reflects how expensive it has become for the US government to finance its growing debt. Furthermore, the 30-year Treasury yield has also climbed back above 5%, although it remains below the 5.20% peak reached on May 20, which was also the highest level since July 2007.
For comparison, auctions for the same maturity cleared at roughly 2% in early 2022, which pointed to heavier Treasury supply, rising inflation risk, and growing borrowing needs as the reasons the government now has to pay more to attract buyers.
Market commentators at The Kobeissi Letter also flagged the AI investment boom as an added source of pressure, since tech companies issuing record debt to fund AI infrastructure are competing with the government for the same pool of capital. “The US debt crisis is intensifying,” the account wrote.
Meanwhile, Spot On Chain analyst Hupzy called the move a structural headwind for BTC and risk assets, arguing that higher discount rates compress valuations across the risk curve and that yields above 5% make speculative allocation harder to justify.
Hupzy described the fiscal picture as double-edged, since rising debt costs could eventually push the Fed toward a dovish pivot, but said that the near-term signal is “risk-off as markets price deteriorating sovereign credit.” They also pointed to the May 5.20% peak as a level to watch, since a break above it would open a new stretch of sustained high long-term rates.
You may also like: Bitcoin Has Exited Capitulation Regime as Momentum Rebuilds: Analysts What Does $2.3B Stablecoin Exodus From Binance and Bybit Mean for Bitcoin Analyst Says Waiting for Bitcoin’s Four-Year Cycle Bottom Could Be a Costly Mistake Bitcoin was last trading above $64,000, down 1.3% over 24 hours but still up 1.7% over the past week and 1.2% in two weeks. The 30-day change is almost flat at 0.4%, with BTC’s market cap standing at around $1.284 trillion and the OG crypto trading roughly 49% below its all-time high of over $126,000 reached on October 6, 2025.
Fed Meeting Now Takes Center Stage for Crypto Markets Treasury yields will not determine Bitcoin’s direction on their own, and the bond market move has come during a relatively quiet week for scheduled US economic data, with investors focusing on weekly jobless claims, purchasing managers’ index reports, and quarterly earnings from Alphabet and Tesla before the Federal Reserve’s July 29 meeting.
Furthermore, the CME FedWatch data currently assigns an 86% probability that policymakers will leave interest rates unchanged, and, as CryptoPotato reported, an unexpected rate increase could trigger selling across cryptocurrencies and equities because markets have largely priced in no change.
That said, the return of 5% long-term borrowing costs is certainly another macro factor that investors need to watch. And with the Fed decision approaching and bond yields sitting at multiyear highs, any surprise in either market could quickly spill over into crypto trading.
SEOUL – Investing in South Korea’s stock market has yielded huge returns in 2026, but it has been a wild ride.
Volatility on the benchmark Kospi index has topped 60 per cent, almost double that of Japan’s Nikkei 225. It has even put the notoriously skittish cryptocurrency Bitcoin in the shade.
The gyrations have forced the Korea Exchange to trigger its “circuit breaker” mechanism, which puts a temporary halt on trading to prevent flash crashes and investor panic, seven times in 2026 through mid-July.
There was no such halt in 2025 and just one in 2024.
Here are some reasons for the unprecedented volatility in Korean stocks:
The Samsung-SK Hynix phenomenonTwo companies account for South Korea’s roller-coaster stock performance: Samsung Electronics and SK Hynix.
Their profits are exploding as they supply the memory chips required for the new generation of artificial intelligence systems.
The AI boom has sent their stock prices up so far, so fast that they now account for more than 50 per cent of the Kospi.
Listed affiliates of both companies take their share even higher.
As a result, funds tracking the Kospi index have effectively become a giant bet on AI.
When the Kospi closed at a record high in late June, more than 650 of its 831 constituent stocks actually fell.
The valuations of AI-related companies are hostage to swings in investor sentiment.
Hundreds of billions of dollars are being poured into AI platforms and data centres in the hope that the technology’s transformative capabilities will yield vast profits.
For now, AI has not generated enough revenue from end-users to cover the cost of building it.
Leveraged ETFs Leveraged exchange-traded funds (ETFs) are hugely popular in South Korea, and very risky.
They use derivatives and debt to amplify the daily returns of an underlying index or asset – typically by a factor of two.
The sophistication and riskiness of leveraged ETFs mean that in most parts of the world, they are primarily bought by professional traders and investors.
In South Korea, they are actively embraced by individuals investing their own savings, many of whom often lack much formal training in finance.
South Korea’s leveraged-ETF boom has its roots in 2010, when Samsung Asset Management launched KODEX Leverage, a 2x KOSPI 200 product that the firm and South Korean media describe as Asia’s first leveraged ETF.
For more than a decade, Korea’s leveraged-ETF market stayed mostly tied to broad indexes.
The country’s financial regulators recognised the risks when they tried to curb local investor demand for foreign leveraged ETFs in 2025.
But in 2026, they allowed the establishment of more than a dozen such products tracking Samsung and SK Hynix, 90 per cent of which are held by retail investors.
As concerns grew over their destabilising impact, the South Korean authorities announced on July 16 that new listings of single-stock leveraged products would be temporarily halted.
Together with the two chipmaker stocks they track, the ETFs have recently been accounting for more than 70 per cent of daily traded value in the US$4 trillion (S$5 trillion) market, amplifying the price moves in the two underlying stocks.
As the AI trade loses momentum globally, these products have now fallen below their launch prices.
Retail investorsSouth Koreans have long dabbled in the stock market, but the AI frenzy focused on Samsung and SK Hynix has really got them excited.
Local individual investors have poured more than 100 trillion won (S$88 billion) into shares in the Kospi in 2026.
Their money is helping to lower the companies’ cost of capital, supporting ambitious expansion plans.
But it has also added to the share price volatility.
The sellers have often been foreign investors – specifically, fund managers obliged to reduce their positions in Samsung and SK Hynix to ensure their share portfolios are not over-exposed to the two companies.
Foreigners have sold Kospi shares worth around US$108 billion in 2026, with SK Hynix seeing withdrawals of more than US$40 billion.
Institutional investors are more likely to stick with a company that is going through a rough patch and have a clearer view of its fundamental value during waves of euphoria.
Retail traders in South Korea are often hungry for returns and willing to take risks. They are known locally as “ants” for their tendency to act in unison.
When a stock falls, it can trigger a panicked stampede. When it rises, it can induce a wave of buying at inflated prices by small investors anxious not to miss out.
The boom in leveraged ETFs is only making things worse.
Goldman Sachs Group strategists wrote in late June that assets invested in South Korean leveraged ETFs tracking indexes and single stocks had soared to over US$40 billion from US$5 billion at the start of 2026.
“Leveraged ETFs are the principal risk to monitor,” they wrote in a separate note dated July 5.
While the amount of margin debt – borrowing to buy stocks – has eased in recent weeks from a June peak, it remains significantly above the level a year ago.
When a stock market is propped up by borrowed money, it can increase the risk of panic selling when prices start to fall.
“Given that leverage was a meaningful driver of the second-quarter rally in memory names, we remain cautious in calling the bottom,” said Gary Tan, a portfolio manager at Allspring Global Investments. BLOOMBERG
BlackRock has reportedly acquired $116 million worth of Bitcoin, further bolstering its competitive position as a significant institutional player in the cryptocurrency market. This purchase, likely facilitated through its iShares Bitcoin Trust (IBIT) ETF, continues BlackRock’s trend of substantial asset accumulation in 2026, despite fluctuations in Bitcoin’s price. The firm’s ongoing acquisitions have made it the largest institutional holder of Bitcoin, with its total holdings reaching 734,762 BTC as of July 17, 2026. This move aligns with BlackRock’s strategy of leveraging its ETF structures to capitalize on the potential of digital assets.
The acquisition comes as Bitcoin prices hover between $64,500 and $65,600. Market participants appear to interpret BlackRock’s purchase as an indication of increasing confidence in the long-term value of Bitcoin, which may influence market sentiment and price expectations. The news has coincided with increased odds in prediction markets concerning Bitcoin reaching higher price targets in July, suggesting that this institutional activity could be seen as supportive of upward price movements.
Advertisement
In active prediction markets, the probability of Bitcoin reaching $67,500 by the end of July has increased to 60.5%, up from 48% just 24 hours ago. This shift suggests that market participants may be factoring in the potential impact of BlackRock’s purchase on Bitcoin’s near-term price trajectory. Other price targets, such as $70,000 and $72,500, have also seen increased probabilities, indicating that sentiment around Bitcoin’s price performance is becoming more optimistic.
Key Takeaways BlackRock’s $116 million Bitcoin purchase appears to suggest growing institutional confidence in cryptocurrency as a long-term asset. Market participants show increased optimism, with prediction markets reflecting higher probabilities for Bitcoin reaching $67,500 and beyond in July. The acquisition by BlackRock is consistent with its pattern of steady asset accumulation through its ETF structures, reinforcing its influential role in the cryptocurrency market. What to Watch Observers will be closely monitoring further institutional activities and any subsequent Bitcoin purchases by major entities like BlackRock. The next few days could be pivotal, as any significant market movements or announcements may impact Bitcoin’s price trajectory. Market participants will also be attentive to regulatory developments, especially any actions by the SEC that could influence ETF operations or digital asset markets. These factors could either reinforce or challenge the current upward trend in Bitcoin’s price expectations.
Get live prediction-market analysis, powered by Vera. Sign up for Vera.
Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 0.2% — — View market → August 1 2026 60.5% — — View market → August 1 2026 23.5% — — View market → August 1 2026 4.5% — — View market → August 1 2026 0.8% — — View market → August 1 2026 0.1% — — View market → August 1 2026 3.6% — — View market → August 1 2026 0.2% — — View market → August 1 2026 8.5% — — View market → August 1 2026 0.3% — — View market → August 1 2026 1.1% — — View market → August 1 2026 2.6% — — View market → August 1 2026 1% — — View market → August 1 2026 0.4% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.3% — — View market → August 1 2026 0.1% — — View market →
Abraxas Capital withdrew 20,000 ETH from Aave, valued at approximately $38.47 million.
According to monitoring by Onchain Lens, Abraxas Capital has just withdrawn 20,000 ETH (approximately $38.47 million) from Aave.
4 minutes ago
Wanchain-Cardano cross-chain bridge exploited, approximately 515 million NIGHT tokens stolen.
According to monitoring by BlockSec Phalcon, Wanchain’s Cardano cross-chain bridge was exploited, with approximately 515 million NIGHT tokens stolen from the bridge’s Treasury. BlockSec’s preliminary analysis attributes the root cause of the vulnerability to the non-injective encoding method used by the TreasuryCheck verifier for signed messages: 14 variable-length fields were directly concatenated to generate the message to be signed, without using separators or length prefixes. This allowed different field combinations to produce identical byte sequences, enabling attackers to reuse valid signatures to carry out the exploit.
4 minutes ago
Bitget has launched 8 stock perpetual contracts including NVDL, TSLL and others.
According to an official announcement, Bitget has launched 8 US equity leveraged and ETF perpetual contracts, including NVDL (2x long Nvidia ETF), TSLL (2x long Tesla ETF), AAPU (2x long Apple ETF), MSFU (2x long Microsoft ETF), and other products. All contracts are settled in USDT, support up to 20x leverage, and enable 24/7 trading. As of press time, Bitget’s stock contracts cover a total of 230 underlying assets. For more details, please refer to Bitget’s official platform.
4 minutes ago
OKX launches RLUSD holding yield activity, with annualized yield up to 10%
According to official announcements, OKX will launch the RLUSD Holding Yield Program on July 21, 2026. Users holding RLUSD will automatically earn holding yields without requiring subscription, redemption, or asset locking; the first 2,000 RLUSD of each user’s holding will enjoy a 10% annualized return. Additionally, VIP users can receive an annualized return of up to 4.1% with no cap on their holdings, while regular users will get a 3.5% annualized return. Rewards can be distributed in either RLUSD or XRP, and users can participate in the program and check their holdings and earnings via the "Earn" — "RLUSD Rewards" section in their OKX accounts. It is noted that RLUSD is a U.S. dollar-pegged stablecoin issued by Standard Custody & Trust Company, a subsidiary of Ripple.
4 minutes ago
Nikkei 225 index gains widened to 3%
According to Bitget market data, the Nikkei 225 index continued to rise in late trading, gaining 3% intraday and currently trading at 66079.56 points.
4 minutes ago
ZHIPU has rebounded 31% from its recent low, with new short positions opened against the trend losing nearly 40% of their principal.
According to Hyperinsight monitoring, ZHIPU on Hyperliquid saw a sharp rebound today to $149.52, with a 31.1% gain from its intraday low to high. As of press time, ZHIPU trades at $146.71. Background: Zhipu (ZHIPU) completed a placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released its 2.8-trillion-parameter open-source model Kimi K3, which intensified market concerns over China’s large language model competitive landscape, leading to a sustained slump. The stock price halved after the H-share offering, and today it has recouped a portion of those losses. During this rebound, an address starting with 0x52e6 took a contrarian short position early today, with all orders opened at the midpoint of the rally. The address initiated shorts when the stock rose ~12% from its low, adding to positions from $127.5 to $143.2. The position then saw continued gains before noon, leaving only ~$17 of buffer to its liquidation price. It currently holds ZHIPU short positions with 5x isolated margin, worth ~$198,700, with a liquidation price of ~$163.83. The position has an unrealized loss of ~$14,100, a return of ~-38.1%, and has nearly lost 40% of its initial margin. Monitoring shows that, aside from this largest loss-making position, there are 7 new ZHIPU positions exceeding $50,000 opened in the last 2-3 hours during today’s rebound—all short positions, totaling ~$953,200 in value, all currently underwater with a combined unrealized loss of ~$70,800. In contrast, among long positions exceeding $100,000, the average cost is ~$149.66, only ~2% above the current price. Currently, only the largest long position near $159.41 faces real liquidation pressure; the cost lines of the other four long positions have already been reclaimed by the current price.
