Track market-moving stories before they get noisy

Within the past 24 hours, Bitcoin [BTC] bounced from a local low of $57,800 to $60,536. This 4.73% bounce has begun to recede, and the leading crypto was trading at $60,048 at the time of writing.

On Tuesday, June 30, close to $410 million worth of leveraged positions were liquidated across the market. This included $8.3 million worth of Worldcoin [WLD] positions, with $8.06 million worth of longs alone.

Worldcoin traders were willing to go long but have been met with relentless losses over the past two weeks. The altcoin has fallen from $0.7229 to $0.3686, a 49% depreciation within a fortnight.

Yet, there’s reason for swing traders and investors to be bullish.

Worldcoin bulls have the potential to fight off the sellers Source: WLD/USDT on TradingView The rally above $0.65 in June brought about a bullish swing structure break for WLD. Since then, a deep correction has come about. The OBV was at the June lows once again, and the RSI was falling toward the oversold level at 30.

Yet, from a structural point of view, the trend remained bullish for the altcoin. Moreover, it has fallen into the golden pocket between the 61.8% and 78.6% Fibonacci retracement levels.

Moreover, despite the OBV’s deep drop, the CMF signaled short-term stability. If the CMF drops below -0.05, the OBV loses the local low, and Worldcoin prices fall below $0.333, a bearish shift would become more likely.

Traders’ call to action- Cautious bullishness Source: WLD/USDT on TradingView The 4-hour chart showed that this lower timeframe’s latest impulse move to $0.723 originated from $0.416. This short-term support has been ceded without much of a fight. It appeared likely that the $0.333 support would soon be tested.

The technical indicators were unanimously bearish on this timeframe for the past two weeks of correction.

Source: CoinGlass The liquidation data revealed that many of the magnetic zones built up over the past month have been swept and cleared, with $0.348 being the next to watch out for.

As things stand, the drive southward, which has been forced by steady waves of liquidations and forced selling, could soon be ending.

Worldcoin traders and investors have reason to be cautiously bullish, but a Bitcoin sell-off could negatively impact WLD trends. Therefore, a move back above $0.416 could be a safe trigger for the buyers.

Final Summary The Worldcoin correction measured just over 49% in the past two weeks, a large figure that has impacted holder sentiment. Despite the large drawdown since June’s high, buyers have another chance to keep the higher timeframe upward trend going.

Celestia’s [TIA] has posted steep losses over the past day, and while the drop reads like an extension of the broader crypto market slide, a closer look at the token’s supply schedule shows the asset is structurally primed for further downside.

DeFiLlama data shows that, apart from the $28,000 tranche marked for the 1st of July at press time, the team plans to offload roughly $67,000 worth of TIA every day until the month closes, pushing around $2.03 million into the market across the 31 days.

Source: DeFiLlama The setup looks bearish on paper, yet spot-market flows suggest incoming demand could absorb the pressure, given how TIA traded through June.

Total Spot purchases have reached $106.68 million, with a netflow of roughly $4.8 million tilting the balance toward buyers.

Funding Rate holds firm even as OI bleeds Outflows over the past few days still read as bearish sentiment working through the market. CoinGlass data showed that Open Interest—the capital committed to an asset’s perpetual contracts—fell 2%, a $1.16 million withdrawal that leaves net OI at $58 million.

Source: CoinGlass The outflow hasn’t shifted positioning, though—the Open-Interest Weighted Funding Rate, which measures the balance of TIA’s perpetual contracts against the Funding Rate, sits positive at 0.0038%.

A positive Funding Rate set against Open Interest signals that most of the capital in the perpetual market is leaning long, positioning for TIA to push higher over the coming sessions.

The reading being only mildly bullish shows traders aren’t crowding the upside, which lowers the risk of a sharp capitulation and points to steadier, more measured positioning.

TIA liquidity heatmap tilts toward an upswing The liquidity heatmap points to room for a TIA upswing. The heatmap doesn’t lock in a direction, but it hints at one by mapping where buy and sell orders rest.

At the moment, the deeper order clusters sit above price, suggesting strong odds that TIA rallies toward those levels.

Source: CoinGlass Momentum still works against that case, with TIA already down double digits on the day, and that weakness could drag price toward the lower clusters instead.

Those lower clusters hold resting buy orders that could seed a mid-term rally and shift the balance back in TIA’s favor.

Final Summary Celestia’s team is set to sell roughly $2.03 million in TIA across the month, adding structural pressure on top of the market-wide slide. Spot demand and a positive Funding Rate suggest that buyers could absorb the incoming supply, keeping an upswing in play.

@SeiNetwork has published the second version of its Giga Whitepaper, the first revision since the original dropped in May 2025. The update tightens one of the network's core performance targets and adds a new transaction privacy layer aimed at institutional traders.

What Changed in V2The headline change is a tighter finality target. The revised whitepaper pushes the goal down to sub-250ms, an improvement on the sub-400ms figure that has been the benchmark since the original Giga paper. The throughput target of 200,000+ transactions per second is unchanged from V1. Sei Labs first published the Giga whitepaper on May 19, 2025, positioning the project as the first multi-proposer EVM layer-1 blockchain. V2 refines that foundation rather than replacing it.

The upgrade is also designed to land without a regenesis or taking the network offline, reducing disruption for applications already running on the chain.

Sedna: A Private Transaction Layer Across Multiple LanesThe most significant new addition in V2 is Sedna, a private transaction layer built to reduce MEV and front-running risk. Rather than broadcasting full transaction data to all proposers at once, Sedna breaks each transaction into fragments and distributes them across separate proposer lanes. No single proposer can see the full details of a trade before it is finalized. Execution then follows a deterministic order once enough fragments are available. The practical effect is that would-be front-runners cannot read a pending transaction in time to act on it.

Paired with deterministic ordering across those lanes, Sei says the design nearly eliminates MEV and censorship risk, two concerns that have historically kept institutional trading activity away from most layer-1 blockchains. The upgrade targets all three factors institutions care about: latency, throughput, and predictable ordering.

Sei Labs co-founder Jayendra Jog previewed the efficiency case for the approach in a mid-June interview, noting that Sedna would deliver roughly 90 percent of the privacy benefits of a full zero-knowledge layer while requiring just 0.01 percent or less of the implementation effort. The full technical specification is set out in the Sedna protocol research paper on arXiv. The public milestone tracker for the full Giga rollout is available at giga.seilabs.io.

Sources:
Sei Labs: Sei Giga Whitepaper announcement (May 2025)
arXiv: Sedna protocol research paper
Sei Labs: Giga public milestone tracker

According to Donald Trump’s most recent financial disclosure, crypto assets have taken the lead as his largest reported source of income in 2025. This development means earnings from digital assets have outpaced Trump’s traditionally dominant revenue streams like real estate, golf, and resort operations.

Main sources of crypto income revealedA substantial portion of the reported income derived from memecoin projects bearing the Trump brand, as well as from World Liberty Financial—a decentralized finance platform supported by the Trump family. Hundreds of millions of dollars in revenue came not only from token sales but also from other business activities linked to the family.

Throughout 2025, most of Trump’s declared crypto earnings flowed from memecoin operations and World Liberty Financial. These ventures signaled that digital asset-linked enterprises now form a significant centerpiece within Trump’s overall business portfolio.

Mini glossary: World Liberty Financial is described as a DeFi-focused platform. DeFi, or decentralized finance, refers to blockchain-based systems enabling token trading, lending, and other on-chain transactions without traditional financial intermediaries.

Ongoing conflicts of interest debateDeputy White House Press Secretary Anna Kelly dismissed accusations of a conflict of interest. Kelly maintained that neither Trump nor his family have engaged in, or will engage in, any activities that could trigger such concerns. She further stated that Trump is working to turn the US into ‘the world’s crypto capital.’

Anna Kelly insisted that Trump and his family have avoided any actions that could lead to a conflict of interest, adding that President Trump is moving forward with the goal of establishing the US as the world’s crypto capital.

The release of Trump’s financial filing has reignited questions about the relationship between his crypto ventures and public policy. Lawmakers and civic groups have called for greater scrutiny of these commercial activities, emphasizing the need for more robust oversight.

Congress and civil society increase pressureConsumer advocacy group Public Citizen criticized the scale of Trump’s published crypto income, urging Congress to boost regulatory oversight of the President’s commercial activities related to digital assets.

Earlier reports highlighted an exclusive Mar-a-Lago event organized for major TRUMP memecoin holders. Since the memecoin launched in January 2025, entities connected with the Trump family reportedly generated over $320 million from transaction fees alone.

With the latest financial statement, these debates have now been supplemented by official government documentation. The records confirm that, for 2025, cryptocurrencies represented the largest category of Trump’s declared income.

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.

KEY TAKEAWAYS

HIP-3 is a Hyperliquid network upgrade launched in October 2025 that allows permissionless deployment of perpetual futures markets by staking 500,000 HYPE tokens. Open interest across HIP-3 markets grew from roughly $790 million in January 2026 to a peak of $3.2 billion by June, according to Grayscale. TradeXYZ, the leading HIP-3 builder, accounts for more than 90% of all HIP-3 open interest with tokenized equities, indices, and commodities. Seven of Hyperliquid’s top ten markets by volume are now tokenized equities or commodity futures rather than traditional cryptocurrency pairs. Grayscale compared Hyperliquid’s infrastructure model to Amazon Web Services, calling it a platform where developers create products while HYPE captures value from every trade. Hyperliquid’s HIP-3 upgrade has quietly transformed a decentralized perpetuals exchange into what Grayscale Research described as “more like Amazon Web Services than a stock exchange” in a June 2026 research note cited by Stocktwits. 

Since launching on October 13, 2025, HIP-3 has enabled permissionless deployment of perpetual futures markets for assets that include NVDA, TSLA, gold, crude oil, and the S&P 500. Open interest surpassed $3.2 billion in June 2026, and on peak days, HIP-3 markets accounted for nearly 48% of Hyperliquid’s total trading volume. 

This article explains the mechanics of HIP-3, how open interest functions on the platform, and what the growth trajectory means for the broader DeFi derivatives market.

How HIP-3 Works: Permissionless Market Deployment HIP-3 enables any participant who stakes 500,000 HYPE tokens, worth approximately $25 million at current prices, to deploy their own perpetual futures exchange on HyperCore, Hyperliquid’s main trading layer.

Deployed markets operate alongside native Hyperliquid pairs but are not covered by the platform’s shared liquidity vault, known as HLP. Instead, deployers manage their own liquidity, according to a detailed CoinGecko analysis published in May 2026. 

Deployers earn half of the trading fees generated on their markets. HIP-3 markets charge roughly double the native fee rate, starting at 0.09% for takers versus 0.045% on native pairs. A “Growth Mode” feature introduced in November 2025 allows deployers to reduce fees by 90% to accelerate adoption, according to OAK Research. 

All HIP-3 markets are margined in USDC, priced against off-chain oracles, and trade 24 hours a day, seven days a week. This always-on structure proved especially relevant during the U.S.-Israeli-Iranian conflict, when high-impact market events developed outside traditional trading hours.

Open Interest Growth: From $790 Million to $3.2 Billion The growth trajectory has been steep. Open interest on HIP-3 markets stood at roughly $790 million in January 2026, crossed $1.43 billion by late March, surpassed $2 billion in April, and reached $3.2 billion in early June, according to a Grayscale research note. 

Since launch, HIP-3 markets have processed over $200 billion in cumulative trading volume. TradeXYZ, a perpetuals platform built by the Hyperunit team, dominates the vertical, accounting for more than 90% of total HIP-3 open interest. 

The platform offers exposure to U.S. equities such as NVDA, TSLA, GOOGL, and AMZN, a synthetic Nasdaq-style index called XYZ100, and commodities, including gold and silver, benchmarked to COMEX front-month futures. Non-crypto assets achieved 60% trader retention in late March 2026, indicating sustained engagement rather than speculative activity.

Analysis: The retention figure is significant. In most DeFi product launches, initial activity spikes and then decays within weeks. A 60% retention rate suggests that HIP-3 is solving a structural problem, 24/7 market access, rather than offering a novelty.

The fact that seven of Hyperliquid‘s top ten markets by volume are now non-crypto assets represents a category shift from a DeFi derivatives protocol toward a global macro trading venue.

Revenue, HYPE Buybacks, and the SpaceX Catalyst Hyperliquid generated $2.3 million in daily fees at peak HIP-3 activity, funding $11 million in HYPE token buybacks. The HYPE token outperformed Bitcoin and Ethereum by over 70% in Q1 2026, according to 99Bitcoins reporting.

The SpaceX initial public offering in June 2026 provided another catalyst. TradeXYZ launched a SpaceX pre-IPO perpetuals market on May 18, 2026, which surpassed $50 million in open interest before SpaceX officially filed its S-1 two days later. 

Moon Rock Capital co-founder Simon Dedic stated in a post on X that the access issues retail traders faced around the SpaceX Nasdaq debut “make the case for trading exposure to high-profile private companies via onchain perpetual futures on Hyperliquid.”

In March 2026, the first S&P 500 perpetual futures product launched on Hyperliquid after S&P Dow Jones Indices licensed the index to a HIP-3 deployer, according to Grayscale.

Regulatory Implications HIP-3 markets offering tokenized equity derivatives operate without KYC requirements, creating a direct conflict with securities regulations in most jurisdictions. The SEC has not issued specific guidance on permissionless perpetual futures tied to U.S. equities. As HIP-3 open interest approaches levels that attract institutional market-making firms, regulatory scrutiny is likely to intensify.

What’s Next for HIP-3? Grayscale’s research note positioned $5 billion in open interest as the inflection point at which HIP-3 markets attract professional market-making firms from CME and CBOE. The launch of HIP-4, which introduces outcome-based prediction market contracts on Hyperliquid, adds a new dimension.

Pending U.S. crypto market structure legislation could either validate or constrain the model. Participants should monitor regulatory developments and the platform’s approach to compliance.

FAQs What is Hyperliquid HIP-3?
HIP-3 is a Hyperliquid network upgrade from October 2025 that lets builders deploy permissionless perpetual futures markets by staking 500,000 HYPE tokens.

How much does it cost to deploy a HIP-3 market?
Deployers must stake 500,000 HYPE tokens, worth approximately $25 million at current prices, to launch a perpetual futures market on HyperCore.

What is open interest on HIP-3?
HIP-3 open interest peaked at $3.2 billion in June 2026, growing from roughly $790 million in January, according to Grayscale research data.

What assets can be traded on HIP-3?
HIP-3 supports tokenized equities like NVDA and TSLA, commodities including gold and oil, indices such asthe  S&P 500, and pre-IPO stocks.

What is TradeXYZ?
TradeXYZ is the leading HIP-3 deployer built by the Hyperunit team, accounting for more than 90% of total HIP-3 open interest across all markets.

How do HIP-3 fees work?
HIP-3 markets charge roughly double native Hyperliquid rates, with half going to the deployer. Growth Mode can reduce these fees by 90%.

What is HIP-4?
HIP-4 is Hyperliquid’s outcome-trading upgrade, launched in May 2026, introducing fully collateralized prediction-market contracts that settle at 0 or 1.

References What is Hyperliquid’s HIP-3? How it works and use cases, OAK Research, June 2026 Hyperliquid’s HIP-3 & HIP-4: Tokenized Stocks and Prediction Markets, CoinGecko, May 2026 Hyperliquid Emerges As Superior Alternative After SpaceX IPO Lockup Chaos, Stocktwits, June 2026 Hyperliquid Fees Explained: Perps, Spot & HIP-3, Datawallet, May 2026

Less than a year ago, Empery Digital was buying Bitcoin by the hundreds of millions. Now it is considering selling some of that Bitcoin to fund a $65 million bet on AI infrastructure.

The company, which trades on Nasdaq under the ticker EMPD, announced on June 30 that it plans to acquire a 25% ownership stake in a newly formed entity focused on converting a Midwest industrial property into an AI data center. The deal is expected to close in Q3 2026.

What the deal actually looks like The facility already has 150 megawatts of power capacity in place, with room to scale to 300 MW.

Empery is partnering with Hunt Properties on the project, combining what the company describes as its capital markets expertise with Hunt’s background in power procurement and infrastructure development.

The financial structure is notable. The tenant of the AI data center will cover both build-out costs and operating expenses. Empery says long-term lease payments from the arrangement could reach $1 billion, which would represent a significant return on a $65 million entry check.

Advertisement

To fund the investment, Empery is considering selling a portion of its remaining Bitcoin holdings, which currently sit at approximately 2,914 BTC valued at around $170.7 million as of June 30.

The company is also discontinuing its Bitcoin-based net asset value dashboard, which it previously used to track BTC holdings as a core metric.

From Bitcoin maximalist to AI infrastructure play in under a year Empery Digital, formerly known as Volcon Inc., adopted its Bitcoin treasury strategy in July 2025, raising over $481 million and deploying over $473 million of that into Bitcoin purchases.

The company sold 370 BTC in early 2026 at an average price of $66,632 per coin. The remaining 2,914 BTC represents a meaningful position, but it is a fraction of what the company was accumulating less than 12 months ago.

The company faced shareholder activism related to its Bitcoin treasury approach, a recurring theme among smaller firms that adopted aggressive digital asset strategies.

What this means for investors watching the space Empery’s stock declined following the AI investment announcement.

The bear case is straightforward. Empery spent most of 2025 building a Bitcoin treasury identity, raised hundreds of millions around that thesis, and is now selling that Bitcoin to fund a single illiquid infrastructure bet that gives them a 25% stake, not operational control, in one data center.

The bull case: AI data center demand is real and growing fast. Facilities with existing 150 MW capacity are genuinely scarce. A structure where the tenant covers build-out and operating costs while Empery collects lease revenue is capital-light once the $65 million check clears. And a potential $1 billion in long-term lease payments, if it materializes, would transform the company’s financial profile.

For investors, the key question is execution. Empery has demonstrated an ability to raise capital quickly, having pulled in over $481 million in 2025. The Q3 2026 close date for the deal will be the first real milestone to watch, followed by any announcements about the data center tenant, whose identity has not been disclosed.

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

Two of the most aggressive corporate Bitcoin buyers just had a very busy June. Strategy Inc. and Strive Inc. collectively added 6,989 BTC to their treasuries, funded almost entirely through preferred equity instruments rather than traditional stock sales or debt offerings.

Strategy picked up 3,625 BTC on a net basis, while Strive added 3,364 BTC. Each company deployed approximately $200 million raised from their respective preferred equity products: STRC for Strategy and SATA for Strive.

The preferred equity playbook Neither company went the conventional route of issuing new common shares or tapping revolving credit lines. Instead, both relied on preferred equity instruments designed to trade near $100 par value with effective yields ranging from 11% to 13% or higher.

Advertisement

For Strategy, the STRC instrument has become the primary engine for Bitcoin accumulation. The company did sell 32 BTC during the month to cover STRC dividend obligations, which is why the net figure comes in at 3,625 rather than the gross amount purchased.

Strive’s approach was even more front-loaded. The company’s largest single transaction in June was a 2,500 BTC purchase funded almost entirely through SATA proceeds. That single buy accounted for roughly three-quarters of Strive’s monthly total.

The running scoreboard Strategy’s total Bitcoin holdings now exceed 845,000 BTC as of early June, roughly 4% of all Bitcoin that will ever exist. Strive, meanwhile, has climbed to nearly 20,000 BTC.

Both companies were buying during a period when Bitcoin prices fluctuated between roughly $60,000 and $65,000. At those levels, each company’s $200 million deployment bought somewhere around 3,000 to 3,500 BTC, which lines up neatly with the reported figures.

The combined haul of nearly 7,000 BTC represents meaningful demand at a time when Bitcoin’s supply dynamics continue to tighten following the April 2024 halving event. Miners now produce roughly 450 BTC per day, meaning Strategy and Strive alone absorbed the equivalent of about 15 days’ worth of new Bitcoin supply in a single month.

Why preferred equity changes the game The 11% to 13% yields on these instruments aren’t trivial, but they’re manageable as long as Bitcoin’s price trajectory cooperates. If Bitcoin appreciates faster than the cost of the preferred dividends, the companies are effectively borrowing at a negative real rate to accumulate a scarce asset.

Strategy’s small 32 BTC sale to cover STRC dividends hints at this dynamic. The company is already using its Bitcoin stash to service the preferred equity, creating a direct link between the treasury’s size and its ability to sustain the financing mechanism.

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

Bitcoin’s latest sell-off intensified as bearish momentum continued building across Binance’s derivatives market. After repeatedly testing lower support levels, Bitcoin [BTC] briefly slipped below $58,000 for the first time since September 2024.

This price drop was accompanied by a net taker volume of about -$330 million. This exceeded the -$311 million that was seen on the 25th of June.

The deeper negative reading shows sellers aggressively crossed the spread instead of waiting for buyers, overwhelming available bids and accelerating the decline.

Source: CryptoQuant At the same time, the 7-day Open Interest trend remains positive. This indicates traders continue to add leverage based on their expectations of further declines in price.

Unless buyer absorption strengthens and aggressive selling subsides, leveraged bearish positioning could keep Bitcoin under sustained downside pressure.

Institutional distribution weakens Bitcoin demand That aggressive sell-side pressure also coincided with a continued deterioration in institutional demand. Rather than absorbing the latest wave of selling, U.S. Spot Bitcoin ETFs extended their distribution trend, shedding more than 100,000 BTC during 2026 alone.

Source: CryptoQuant Furthermore, the total number of BTC sold off by ETF issuers has reached approximately 160,000 BTC since they hit a high-water mark in their reserves in late October 2025. This represents losses totaling more than $11 billion.

Source: CryptoQuant Therefore, it is likely that numerous institutional participants remain underwater. The persistent reduction in the reserves held by the EFTs suggests that EFTs have moved from providing support to Bitcoin’s bull run to creating additional structural supply.

Consequently, if ETF flows do not soon turn positive again and institutional demand continues to weaken. This will then result in an increase in negative pressure for all segments of the overall market.

Can Spot demand replace fading ETF support? There is concern now even though there was a significant amount of Spot buying activity after weeks of ETF selling. The market did not see strong enough demand to sustain the price of Bitcoin above $60,000.

Since then, while there are increasing signs that Long-Term Holders have been accumulating, the absorption of excess supply has continued to be spotty at best.

Also, the Short-Term Holder MVRV still hovers below one. This implies that most new buyers in this period have unrealized losses on their positions.

As such, until Coinbase Premium strengthens and Spot Taker CVD turns decisively positive, weak spot demand could leave Bitcoin vulnerable to renewed downside pressure.

Final Summary BTC faces growing pressure from aggressive selling and persistent ETF outflows. Bitcoin needs stronger Spot demand to stabilize and regain momentum.

SPOILER ALERT: Jeff Booth does not know what the world will look like in 2036.

I know, I know… You probably wanted to hear from Jeff — author of The Price of Tomorrow and someone with incredible foresight and vision — that all eight billion of us would be living in the type of abundance he often talks about on podcasts.

You likely wanted to read that Jeff foresees Bitcoin replacing fiat by 2036 and that we’ll all be able to just kick back and relax as we enjoy living in a deflationary system by then.

I, too, was slightly disappointed when he didn’t paint a picture of a Bitcoin-fueled utopia that will exist a decade from now.

That said, in true Jeff Booth fashion, he offered some perspective that was perhaps even more profound than expected:

“It can exist for them right this second,” said Jeff in regard to when people can begin to reap the benefits of existing in a Bitcoin-buoyed system. “The question is ‘Do people move their time and energy to this new system?’”

Leave it to Jeff, someone who I often refer to as the Eckhart Tolle (author of The Power of Now) of Bitcoin to remind us that we don’t have wait for a day in the far off future when Bitcoin has transformed the world, we can begin to use right now it to transform our own personal world and the worlds of those with whom we engage.

“We are the change,” said Jeff. “We always have been.”

There’s just one caveat to Jeff’s message, though…

To fully experience the benefits that Bitcoin offers, we cannot simply view it as another asset within a broken system, we have to see it for what it actually is: a protocol.

Bitcoin As A Protocol  According to Jeff, seeing Bitcoin as anything but a protocol will not only result in our not fully benefitting from it, but ultimately in the failure of the protocol itself.

That’s a lot, I know.

Let’s unpack it.

When Jeff looks out at the world, he sees a spectrum of Bitcoin enthusiasts — and, of course, those who will continue to simply dismiss Bitcoin.

The latter will resume focusing their efforts on trying to reform the broken and insolvent system that continues to steal their time and wealth while consistently blaming the powers that be for their lot in life, further handing over their power to those actors in the process.

If you’re reading this article, you’re likely not one of those types. You, instead, exist somewhere on a spectrum of Bitcoin understanding that Jeff has conceptualized.

On one side of that spectrum are those who take risky bets with bitcoin or even with other crypto assets in efforts to get rich quickly. This type lends much of their energy to searching for the next scheme to trade. Very few in this world win big and almost all lose over a longer time horizon.

One level up from that are those who see bitcoin as a store of value. The problem with this perspective is that the asset is trapped within the broken monetary and financial systems instead of replacing them. If bitcoin only remains a store of value, its ownership will continue to centralize over time, leading to a Bitcoin elite, a new breed of kings, as opposed to a world in which all human beings benefit from bitcoin. This scenario will also lead to continued issues with Bitcoin custodians.

“If we continue to have a debt-based system on top of bitcoin, bitcoin will continue to be held by custodians who will get liquidated time and time again as they take risks with their customers’ bitcoin,” said Jeff. “It’ll look like Celsius and BlockFi over and over and over again.”

Finally, there are those who see Bitcoin as a protocol.

They understand that Bitcoin emerges in layers, each of them enabling it to be used more easily and privately as money. It’s those for whom Bitcoin will serve as a true catalyst.

“It’s only if you view Bitcoin through the protocol lens that the world will change for you,” said Jeff.

“Every single other one of those perspectives relies on ‘It’s somebody else, not me.’ But the last one says ‘I create the future from my intention,’” he added.

“So, when we think about 2036, the real question is ‘How many people realize that they have the agency to change the world?’”

While this may seem like a relatively easy question to answer for oneself, it becomes more challenging when considering that we exist in a world that is constantly trying to distract us from what Bitcoin truly is.

Don’t Get Caught From flavor of the month FUD to hero worship, it’s easy to give up your power.

“People often give their agency away to the likes of those who spread fear around quantum computing breaking Bitcoin or to those talking about how Jeffrey Epstein tried to infiltrate Bitcoin Core,” said Jeff.

Much of the Core vs. Knots debate was also driven by fear, which also siphoned people’s power, according to Jeff. With regard to this particular issue, Jeff noticed the name calling and ad hominem attacks, but opted not to contribute to the drama. Instead, he simply saw it as a signal that the issue was worth investigating. He believes that the debate offered people an important opportunity to fight for what they want Bitcoin to be.

“We’re used to seeing only a small part of consensus and not seeing views that are outside of it,” said Jeff. “The consensus mechanism and the agency of all participants fighting for what they see bitcoin as allows each person to see the entire debate and make their choice of what bitcoin is to them.”

Jeff went on to say that instead of being driven by fear and blindly digging in with one side or the other in such debates, it’s important to look inward at these times. Both doing so and advocating for what you want Bitcoin to be is ultimately how the protocol stays safe in his eyes.

“If there are enough hypervigilant people focused on the issues, Bitcoin stays secure,” said Jeff. “If there are enough people building on this and they are all hypervigilant as they build, it stays decentralized.”

Bitcoin enthusiasts also give away their agency to figures in the Bitcoin space who convince them that bitcoin is nothing more than a store of value — digital capital, if you will — according to Jeff.

“If you talk about digital capital and digital assets or building a debt-based system on top of Bitcoin, you aren’t viewing Bitcoin as a protocol,” explained Jeff. “Building a debt-based system on top of Bitcoin is centralizing, which isn’t good for Bitcoin. If you’re trying to concentrate bitcoin and become a new king, then both Bitcoin and the game you’re playing will ultimately fail.”

Jeff attributes the fact that some aren’t able to see how building a system that resembles the system Bitcoin was designed to replace is ultimately doomed to the notion that many are trapped in old mental models. In other words, we often bring our baggage from the old system into this new one. Those who see Bitcoin as a protocol, those using it as money in Bitcoin circular economies on a day-to-day basis, fundamentally understand Bitcoin through a different lens. They intuitively know that every choice, want, and need is a choice to distribute value or give value. And as bitcoin becomes more ubiquitous as money, then those playing financial games with bitcoin will ultimately be forced to give up their coins.

“You can try to create debt on top of bitcoin, but, eventually, as Bitcoin adoption increases, prices will begin falling so fast that those trying to centralize Bitcoin will have to figure out a way to deliver value to society in excess of what they’re spending to pay back and service their debt, which they won’t be able to do, forcing them to distribute their bitcoin,” said Jeff.

In short, Bitcoin inevitably liquidates those playing a zero-sum game; therefore, according to Jeff, it’s best to focus on what you’re doing to provide value to the world rather than focusing on how prominent figures in the Bitcoin space are rebuilding the same type of debt-based system that we’re trying to escape on top of bitcoin.

Why Bitcoin Remains Decentralized and Secure For this issue, the editorial staff and writers involved have presupposed that Bitcoin is still sufficiently decentralized and secure come 2036. The truth is, though, as Jeff points out, if we all don’t claim our own power and embrace Bitcoin as a protocol, then it centralizes and fails.

Put another way, Bitcoin is not inevitable.

Yet, at the same time, Jeff is all but 100% convinced that Bitcoin does, in fact, succeed.

Why is that? you might ask.

Well, to use Jeff’s own words, he believes that Bitcoin will win because he “believes in us.”

Now, I know what you might be thinking: How could Jeff believe in us?… I mean, has he seen all the pleb slop out there? Has he seen how quickly many have been to abandon their Bitcoin vision and morals in pursuit of fiat gains? And does he think we’re all as good at thinking for ourselves as he is?

While I didn’t ask Jeff those questions, I’d imagine his answers to the second and third ones are “yes” and that he’s too humble to even respond to the final one. And as for the first question, he answered it without my posing it to him directly.

“As time goes on, more and more people discover what Bitcoin truly is, and each of them begins to move their agency into this space,” he explained. “In the process, people discover that their agency matters and that they can bend reality to their will. And when we share different thoughts about Bitcoin with others, it opens people’s minds, further causing them to shift their time and energy. I’m so positive that Bitcoin succeeds because I believe in the best in us, and I’ve already seen so many people move their time into this space and how that has had such a positive impact on them.”

Still, Jeff, c’mon! Most of us are still simply trying to convince our friends and family members that Bitcoin isn’t a scam, much less something that they should be moving their time and energy into. Even the idea of moving one’s time and energy into Bitcoin seems like an abstract and foreign concept to most people today.

Jeff gets that, too. And so he offered a caveat:

“Not everybody has to move their time — only a small fraction do.”

Now, given that my intention in writing this piece isn’t simply to help share Jeff’s perspective but to encourage you to embrace your own agency and power, I’m not going to share how much that small fraction is composed of in Jeff’s mind. Doing so might put you back into the mindset you may have had before you started reading this piece, the “Bitcoin is inevitable, and my efforts mean nothing in regard to its success or failure” mindset. Since that’s neither productive nor empowering, let’s not go there. The point is that Jeff believes that there are enough of us out there who will “hold the line and fight for freedom” as we work to maintain what he terms “the honest chain.”

“__% of people will cheat and go back to the dishonest chain,” said Jeff. “They’ll tell themselves ‘I needed to do it for my family.’ Deep down, they won’t have wanted to move to the dishonest chain, but they will feel that the consequences of not doing so were just too great. So, they’ll take the bribe. They’ll tell themselves ‘If not me, somebody else will do it, and I have to do it, too.”

Though that remaining percentage of people who support the honest chain may be small, it will be more than enough to have the balance of most people eventually move with them, according to Jeff.

“That small group forces a foundation from which others can benefit,” said Jeff.

A beautiful dimension of Bitcoin is that it’s a group, as opposed to a single figure, that keeps the network safe. And what shields this group is that Bitcoin enables them to remain anonymous. This can be contrasted with public leaders or religious figures who’ve challenged power and been martyred for it.

“Those leaders and religious figures had to be killed because they were open and very dangerous to the system of power,” said Jeff. “Now, those who want to stand up for what’s right no matter what to keep Bitcoin protected can do so because privacy is built into its layers. If this fight were occurring in the open, the intransigent minority, those who want to stand up for what is right, would be knocked off in time; it would be too dangerous for them to stand up.”

In this light, Bitcoin could be viewed as the greatest tool for human liberation we’ve ever seen. And the most exciting part is, we may have all of the components we need to scale it securely and in a manner that offers people transactional privacy.

Scaling Bitcoin: We May Already Have All We Need Given how often Jeff refers to scaling Bitcoin in layers, I asked him how many layers he envisions Bitcoin having by 2036, anticipating that he had some ideas for layers that few of us could have yet conceptualized.

To my surprise, his answer to my question was direct: “I think we have almost everything already.”

(LFG.)

“We have Bitcoin, composed of energy, mining, and the consensus rules,” began Jeff. “Next, we have Lightning, Liquid, Ark, etc. This is the transport layer where you can now transport value instantly at very fast speeds. On top of or integrated with that, you have fedimints for ecash, the privacy layer. We also have Nostr, the identity layer, web of trust, and privacy layer. And that might be all we require. Everything there is enough to enable all applications to take part in the first global free market that’s ever existed.”

But what about a capital markets layer? Will we see tokenized assets on a Bitcoin layer by 2036, or at any point in the future for that matter?

According to Jeff, that’s a hard “no.”

“Tokenization is part of the fiat scam,” said Jeff. “The idea with tokenization is that people are going to take more assets and drive more money into those assets. In the world I’m talking about, you don’t need tokenization because the protocol preserves value for you — everything is priced in prices that are falling.”

According to Jeff, tokenized assets, whether on traditional ledgers (e.g., brokerage accounts) and on blockchains, are part of the current system, which is extractive. In a world underpinned by bitcoin, people won’t need to rely on tokenized assets to preserve their wealth.

“In this new world, capital markets get way smaller,” said Jeff. “In 1900, capital markets only made up about 1% of the economy, and now it’s closer to 40%. Tokenization helps the extractive economy carry on; it becomes unnecessary in a world in which Bitcoin succeeds as a protocol.”

Jeff contextualized his point by describing how he and the team at ego death capital, the Bitcoin venture capital firm that he co-founded, think about making investments in a world where bitcoin continues to appreciate in value.

“At ego death, we deploy risk capital where we think we can exceed a 45% IRR (internal rate of return),” Jeff explained. (Bitcoin’s IRR over the past 15 years is approximately 45%.) “Most startups don’t get funded with debt. Family and friends typically fund startups and what they’re doing is saying ‘I believe you can do this,’ while not necessarily considering the fact that most startups fail because it’s so hard to create value in the free market. Investors only come in when they see a startup starting to win and when they think a business will provide tons of value moving forward.”

And most investors in public markets today are only investing because fiat currencies are losing value at such an alarming rate. In a world that’s on a bitcoin standard, speculating in markets as a means to preserve value is no longer necessary.

Start Today Each of our actions in this Bitcoin space have power.

They are helping to chart a course in which, by 2036, there will be exponentially more of us reaping the benefits of living on a bitcoin standard.

While that future surely isn’t promised, Jeff feels confident that we’re on the right path.

“Our future is created by these collisions of us talking to each other, learning from one another, and expanding our knowledge to other people,” he explained.

Plus, the longer Jeff works with and invests in high-integrity builders in the Bitcoin space, the more confident he feels that Bitcoin remains decentralized and secure, as it must for it to succeed.

With that said, Jeff understands that many will sell out as the fight continues to be brought to Bitcoin’s doorstep, which is why he says that we should feel free to “slay our heroes.” Instead, he believes, we should look within ourselves for answers.

The Bitcoin story isn’t one of looking out to or up to; it’s one of looking inward and embracing responsibility and critical thinking, both of which are necessary in pursuit of increased personal power and agency.

If we want a world transformed by Bitcoin in 2036, we have to start by making the essential personal transformations and moving more of our time and energy into Bitcoin today.

Don’t miss your chance to own The 2036 Issue — featuring articles written by many influential figures in the space pondering the challenges of the next decade!

This piece is featured in the latest Print edition of Bitcoin Magazine, The 2036 Issue. We’re sharing it here as an early look at the ideas explored throughout the full issue.

Bitcoin made notable strides on Wednesday, rallying to as high as $60,200 before retreating to an intraday low of $57,737. The world’s largest cryptocurrency still managed to recover roughly 2.7% in the past 24 hours. Meanwhile, Ether posted a 3% gain, and Solana surged by 4.85%, signaling a broader rebound across major digital assets.

Markets bounce back, but investor caution prevailsDespite the apparent recovery in prices, investor sentiment remains distinctly cautious. Key “fear and greed” indicators, which track the emotional state of the crypto market, are currently hovering around 11 out of 100. This figure firmly places the market in the “extreme fear” zone, highlighting significant apprehension among investors. Notably, even with the recent rebound, Bitcoin is still down by nearly a third year to date.

While Bitcoin has enjoyed a short-term recovery, broader market data suggests that investor confidence has yet to stabilize in any meaningful way.

ETF outflows clash with long-term accumulationAnalyzing the available data reveals diverging trends in investor behavior. Spot Bitcoin ETFs listed in the United States have recently experienced notable outflows, outpacing inflows for several consecutive weeks. In June alone, a staggering $4.5 billion left these funds—a record for monthly withdrawals since the ETFs debuted.

In contrast, on chain data points to large-scale long-term accumulation. Over the past two weeks, long-term holders have reportedly added approximately 270,000 BTC to their portfolios. This wave of buying suggests that influential investors have interpreted the recent price correction as a strategic buying opportunity rather than a reason to sell.

Leverage builds up in a critical price rangeOne of the most closely watched short-term metrics has been the funding rate, which has remained positive for three straight days. In practical terms, this means that despite Bitcoin’s tests of new lows, bullish leverage trades continue to dominate. Such concentrated leverage on one side of the market, especially with tepid price action, can heighten the risk of increased volatility.

Recent data from three leading exchanges shows that leveraged positions have piled up most densely between $57,000 and $60,500—the same price corridor where Bitcoin has been trading since the end of June. Outside this range, specifically above $61,000 and below $56,000, the intensity of these positions drops off dramatically.

This distribution reveals that forced liquidations are clustered close to the current trading range. Should Bitcoin break upward past $61,000 or fall below $56,000, analysts anticipate that price swings could quickly become much more dramatic.

The first 24 hour outlook remains neutralIn the near term, the overall outlook is considered neutral. To confirm a clearer shift in trend, both Bitcoin’s price and leveraged positions would need to demonstrate simultaneous growth. However, the latest data indicates that this alignment has not yet materialized.

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.

For years, Strategy Inc. traded at a hefty premium to its Bitcoin stash. Investors were willing to pay more than the underlying crypto was worth just for the privilege of exposure through a publicly traded stock. That era appears to be over.

Bloomberg reports that Strategy’s enterprise multiple to net asset value, known as mNAV, has fallen below 1x. In English: the company’s total enterprise value is now less than the market value of the Bitcoin sitting on its balance sheet. As of late June 2026, Strategy’s enterprise value sat at roughly $50.4 billion, while its 847,363 Bitcoin were worth approximately $51.1 billion.

From premium darling to discount bin The stock, which once traded near $540 in November 2024, has cratered to around $82. That’s an 85% decline from its peak.

Bitcoin’s own trajectory tells much of the story. After surging past $126,000 during the 2025 rally, the largest cryptocurrency has retreated to approximately $60,000. Strategy, which has staked its entire corporate identity on accumulating Bitcoin, absorbed every bit of that decline and then some.

Advertisement

The company, which rebranded from MicroStrategy in February 2025 to better reflect its Bitcoin-centric mission, essentially operates as a leveraged Bitcoin vehicle. Because investors valued Strategy stock above the Bitcoin it held, the company could issue new shares at inflated prices and use the proceeds to buy more Bitcoin. Each share issuance was accretive, meaning existing shareholders got more Bitcoin exposure per dollar invested.

$10 billion in unrealized losses and a shrinking playbook With Bitcoin trading near $60,000, Strategy is now sitting on more than $10 billion in unrealized losses based on the average acquisition cost of its holdings.

The vanishing premium has also killed the equity issuance strategy that fueled the company’s buying spree. To adapt, Strategy has reportedly pivoted toward alternative capital strategies. The company’s playbook now includes debt mechanisms and preferred stock instruments, with plans that could involve up to $1.25 billion in either Bitcoin buybacks or sales. A company that built its brand on never selling Bitcoin is now keeping the option on the table.

Strategy’s balance sheet features a mix of convertible notes, preferred stock offerings, and traditional debt, all layered on top of a single underlying asset.

What this means for investors The mNAV falling below 1x fundamentally changes the investment thesis for Strategy stock. What remains is a stock that gives you slightly less than one dollar of Bitcoin for every dollar you invest, plus corporate debt and preferred stock obligations sitting on top.

Spot Bitcoin ETFs now offer investors direct Bitcoin exposure without the corporate overhead, debt obligations, or management risk that come with owning Strategy stock. When Strategy traded at a premium, it offered something ETFs couldn’t: leveraged upside. At a discount, the value proposition gets murkier.

Investors watching this space should pay close attention to whether Strategy actually executes any Bitcoin sales from that $1.25 billion authorization. The company still holds 847,363 Bitcoin, making it by far the largest corporate holder of the asset.

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

https://moneywise.com/investing/cryptocurrency/michael-saylor-strategy-bitcoin-sale-plan

Strategy, formerly known as MicroStrategy, has announced a significant shift in its financial strategy, unveiling a $1.25 billion Bitcoin monetization program. This move marks a transition from solely accumulating Bitcoin to actively managing its balance sheet, as the company also increased the dividend on its STRC perpetual preferred stock to 12%. This development comes as Strategy’s USD reserves stand at $2.55 billion, with substantial Bitcoin purchases overshadowing U.S. spot Bitcoin ETF inflows. The market is now assessing whether this strategy pivot indicates a halt in the company’s previously aggressive Bitcoin accumulation approach.

Advertisement

The impact of this announcement is reflected in the prediction markets. Current pricing suggests a high likelihood of Bitcoin maintaining a value above $54,000 on July 2, with some markets pricing in a near certainty. The strategic use of Bitcoin as a capital tool appears to be interpreted by market participants as a positive financial indicator, potentially bolstering confidence in Bitcoin’s price trajectory.

Key Takeaways Strategy’s $1.25 billion Bitcoin monetization program and increased STRC dividend suggests a strategic shift towards active balance sheet management. Market pricing indicates high confidence in Bitcoin maintaining a value above $54,000 by July 2, 2026. The company’s move is seen as a positive indication of financial health, likely influencing Bitcoin’s price in the short term. What to Watch Observers will closely monitor Strategy’s subsequent actions and whether its shift in strategy affects Bitcoin’s market dynamics. Key factors include further announcements from Strategy and broader market reactions to Bitcoin’s monetization. Additionally, developments related to Bitcoin ETF inflows and regulatory actions could either support or challenge the current pricing expectations.

Get prediction market intelligence as a structured API feed. Early access waitlist.

Term Structure

Contract Odds Δ since publish Volume 24h July 2 99.8% — — View market → July 2 99.9% — — View market → July 2 0.7% — — View market → July 2 0.1% — — View market → July 2 99.9% — — View market → July 2 2026 76.5% — — View market → July 2 2026 97.8% — — View market → July 2 2026 13.7% — — View market → July 2 2026 99% — — View market → July 2 2026 0.2% — — View market → July 2 2026 0.2% — — View market →

Bitcoin tops $60K amid Fed inflation talks: Is bull trap or $65K next?

K Wave Media had a Bitcoin strategy. Then it didn’t. On May 6, 2026, the Nasdaq-listed K-Pop and entertainment company sold its entire Bitcoin holdings for $64.2 million, closing the book on a treasury experiment that lasted less than a year.

The company used proceeds from the sale to repay debt, completing a strategic reversal that left KWM holding zero Bitcoin and a very different roadmap than the one it pitched to investors in 2025.

From $1 billion Bitcoin bet to zero Less than a year ago, K Wave Media looked like it was building a serious crypto treasury operation. In 2025, the company secured $1 billion in capital capacity through two separate financing agreements: a $500 million SPA with Anson Funds and a $500 million SEPA with Bitcoin Strategic Reserve.

Advertisement

The terms were explicit. Eighty percent of net proceeds from certain instruments were designated specifically for Bitcoin purchases. The company followed through, acquiring 88 BTC in July 2025 as the foundation of that strategy.

Then the pivot happened. On May 4, 2026, KWM announced it would redirect up to $485 million of its remaining financing capacity toward artificial intelligence infrastructure initiatives. Two days later, the Bitcoin was gone.

The company also sold its main subsidiary, Play Co., a move designed to eliminate roughly $48 million in debt and liabilities, pending shareholder approval. In a matter of days, KWM went from crypto treasury company to AI infrastructure play.

The market reaction was not subtle Investors who bought into KWM for its Bitcoin exposure were not given much warning. Shares dropped 24% on the day the strategic pivot was announced.

KWM is incorporated in the Cayman Islands and trades on Nasdaq under the ticker KWM. The company’s core business has historically centered on K-Pop content and entertainment.

What this means for corporate Bitcoin holders KWM’s exit is a useful case study in the gap between a company announcing a Bitcoin strategy and actually committing to one. MicroStrategy, now rebranded as Strategy, has held Bitcoin through multiple severe drawdowns and built its entire corporate identity around the position.

The K Wave situation illustrates a specific risk that applies to smaller companies mimicking the treasury playbook: the financing structures used to accumulate Bitcoin often come with conditions, counterparties, and redemption mechanics that can make the position less permanent than it looks from the outside.

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

While Ripple’s US dollar-pegged stablecoin RLUSD continues its rapid growth, some members of the XRP investor community have raised concerns that the rise of RLUSD could be eroding the role of XRP on the XRP Ledger. However, XRP-focused treasury services firm Evernorth says that on-chain data shows the opposite is true.

Transaction data points to ecosystem expansionEvernorth has analyzed all RLUSD transactions on the XRP Ledger and found no evidence that RLUSD is displacing XRP’s utility. Instead, the company reports that RLUSD has improved network liquidity, spurred trading activity, and boosted overall use of the ledger.

According to the data, RLUSD’s share of transaction volume on the XRP Ledger has climbed from less than 1% to nearly 12% in under 18 months. With this increase, the network now hosts a native US dollar market that was previously missing from its infrastructure.

Evernorth emphasizes that RLUSD is not diminishing the importance of XRP; rather, it is deepening network liquidity and broadening the utility of the XRP Ledger.

One notable metric is the RLUSD/XRP trading pair: in just six months, this pair has generated approximately $900 million in transaction volume. This trend demonstrates that users can seamlessly move between dollar-based assets and XRP entirely within the network, without needing to leave the ecosystem.

How RLUSD’s function on the network is evaluatedEvernorth draws a parallel between RLUSD’s function on the XRP Ledger and the role of the US dollar in global currency markets. Much like the dollar acts as a fundamental asset in financial transactions worldwide, RLUSD is quickly becoming the primary dollar benchmark on the XRP Ledger. However, XRP remains the network’s essential medium for settlement and payments.

All RLUSD transactions ultimately settle on the XRP Ledger, with network fees paid in XRP; as the use of RLUSD rises, so does demand for XRP in transactions.

This structure suggests that as RLUSD adoption grows, it could ultimately support greater XRP utility as well. Because transaction fees are paid in XRP and these fees are permanently burned, the expansion of network activity could gradually place downward pressure on the circulating supply of XRP.

Data now shows that the XRP Ledger has become the principal network for RLUSD. More than 50% of RLUSD’s total supply is currently held on the XRP Ledger—up from only 17% back in April.

Evernorth concludes that this evolution is a sign not of RLUSD undermining XRP, but of the XRP Ledger’s expansion into a more liquid and active platform. In this dynamic environment, XRP’s core role as the native asset for payments and settlement remains intact.

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.

XRP continues to trade below a key technical threshold in its July 1, 2026 sessions, as traders and analysts set their sights on the $1.65 level. This price point, which aligns with the 50-period simple moving average (SMA) on the monthly chart, is seen as a crucial indicator for confirming a sustained breakout. As of press time, XRP stood at $1.04, having slipped 0.11% in the past 24 hours and 4.01% over the past week. Trading volume, meanwhile, rose 0.51% to $1.61 billion.

Key moving averages in technical analysisAnalyst Egrag Crypto notes that XRP started July under the 50-period SMA on the monthly chart. According to Egrag, the $1.65 level serves as a significant barrier in terms of the macro outlook. The analyst points out that in previous cycles, XRP’s price bottoms have often formed near the 88-period SMA, with broad upward moves typically following these levels being tested.

Egrag Crypto emphasizes that as long as XRP remains below $1.65, the asset is caught in a macro consolidation. A decisive break above this level would, in Egrag’s view, sharply change the overall picture.

The highest-probability scenario in the analyst’s forecast map is a retest of the 88-period SMA, assigned a 55% likelihood. The chance of rapidly reclaiming the 50-period SMA and preventing a deeper pullback is put at 30%. A third scenario, where XRP dips below the 88-period SMA and the macro recovery stretches over a longer period, is given a 15% chance.

Upside targets: $7.50 and $42Egrag Crypto suggests that if XRP breaks above $1.65, it could trigger a structural shift in the chart pattern. The analyst identifies $7.50 as the first major expansion target, with $42 cited as a potential longer-term, historically derived level. Until the price decisively clears the 50-period SMA, however, Egrag maintains a cautious stance.

The analyst highlights that previous cycles have seen strong expansion moves after lows formed around the 88-period average, and market participants are watching closely to see if this pattern will repeat.

Derivatives data signals limited market appetiteShort-term sentiment remains muted in derivative markets as well. According to CoinGlass data, XRP futures trading volume slipped 2.14% to $1.70 billion, while open interest declined 2.73% to $2.27 billion. The funding rate for open positions in XRP hovered at 0.0027%.

Mini glossary: Open interest refers to the total size of contracts in futures markets that have not yet been closed. The funding rate is a periodic payment designed to keep perpetual futures markets balanced between long and short positions.

Claims about Japan’s XRP holdings draw attentionAnother noteworthy point in the market comes from X platform analyst Xrp Herald, who claims that Japan’s total XRP holdings now exceed $60 billion. The post highlights Japan’s long-standing status as one of the strongest markets for XRP, attributing this to institutional relationships with SBI Holdings, robust retail interest, and increased blockchain-related activity.

Xrp Herald also underscores the sustained momentum for XRP in Japanese financial markets, naming SBI Holdings as one of the largest corporate holders of XRP globally. SBI Holdings is a major financial group based in Japan and is well-known for its ongoing initiatives connected to the Ripple ecosystem.

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.

Ripple has completed its standard monthly token unlock, releasing 1 billion XRP, and has relocked 70% of that total. As a result, a net 300 million XRP has entered circulation. According to data from Whale Alert, unless further changes occur before the end of the day, this amount aligns with the company’s established net liquidity plan that it has followed throughout 2026.

Ripple’s balance in managing XRP supplyThe controlled release of 300 million XRP reflects Ripple’s cautious approach to market liquidity. By putting only a limited amount of net supply into circulation after mandatory re-locks, the company aims to reduce downward price pressure that could result from excessive token inflows.

As of July 2026, the average daily trading volume of XRP on regulated platforms stands at about $1.61 billion. In a market of this size, Ripple’s management believes that large, uncontrolled releases could disrupt order book stability and create additional volatility in XRP’s price.

Brad Garlinghouse, who has referred to XRP as Ripple’s “North Star,” has said that the company’s strategy is to keep unlocked token volumes within limits that won’t threaten price stability.

The most recent unlock in July translates to approximately $319 million in dollar terms. However, this figure represents only a small portion of Ripple’s total reserves and is considered a limited share in the context of the global token economy.

Locked reserves and market responseData from XRP Scan shows that about 35.8% of the total XRP supply—equating to 35.8 billion XRP—remains locked in escrow contracts controlled directly by Ripple. This means that July’s net increase of 300 million XRP is less than 1% of Ripple’s current locked assets.

Mini glossary: An escrow contract is an on-chain mechanism in which a set amount of tokens is locked under predetermined rules and later released. This method is used to limit sudden increases in supply and to make token release schedules more predictable for the market.

Following the latest unlock, XRP maintained a strong intraday performance. Positive sentiment in the XRPL ecosystem has facilitated quicker absorption of newly released tokens by market buyers.

Key price levels on the XRP chartFrom a technical standpoint, the $1.0390 level currently represents a significant support zone. After holding this area, XRP staged a local rally and moved closer to the psychological threshold of $1.06.

The shape of the market for the rest of the day will depend on whether current demand can keep pace with the net addition of 300 million XRP. For now, the relocking measure appears to be effectively limiting supply-side pressure.

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.

STOCKHOLM, Sweden, July 1st, 2026, Chainwire

XORA, a custodial neobank built on the XRP Ledger, has launched a platform that lets XRP holders earn a daily yield on their XRP and spend it in the real world through the XORA card. The company, which went live in February 2026, is targeting a large and often overlooked audience: the millions of retail investors who hold XRP but have had few ways to use it.

That audience is a defining feature of XRP. Unlike Bitcoin, whose supply has moved increasingly into institutions and exchange-traded funds, XRP remains overwhelmingly retail-owned, with everyday investors holding the majority of circulating tokens. For years, those holders could do little with their XRP beyond buying it and waiting. XORA is built to change that.

With XORA, a user signs in with a passkey and deposits XRP from any wallet or exchange to a personal XRP Ledger address. Idle balances begin earning automatically, currently 15% paid in XRP plus an estimated 7% in native XORA tokens for tier-one balances. Withdrawals settle on the XRP Ledger in about three seconds, with no lock-up and no deposit or withdrawal fees. The XORA card, now rolling out, lets holders spend their XRP balance at everyday merchants, with conversion handled at the point of payment.

“The market keeps talking about institutional crypto, but XRP’s strength has always been its retail base,” said Joren Lundgren, founder and CEO of XORA. “Those holders did not want another place to trade. They wanted to earn on what they hold and spend it like money. That is what we built.”

The platform is designed around verifiable custody. XORA operates a segregated, custodial treasury on the XRP Ledger whose backing can be checked on-chain through any XRPL explorer. It runs daily reconciliations, automated circuit breakers, and a separately funded depositor-reserve buffer drawn from protocol revenue, with a public bug bounty. The company also discloses that the native XRP yield is currently a time-limited treasury subsidy that will step down as deposits grow, transitioning toward on-chain sources such as XRP Ledger automated market-maker liquidity provision and lending. XORA states that it is not a chartered bank and that balances are not government insured.

XORA is building toward a broader neobank over time. A native XORA token unlocks tiered benefits as holdings grow, including planned metal cards, travel perks, governance rights, and concierge banking, and additional card features are on the roadmap.

For XRP’s retail base, the proposition is utility rather than speculation: a way to put an existing holding to work and spend it, rather than leaving it idle in a wallet.

About XORA

XORA is a custodial neobank on the XRP Ledger where holders earn on idle XRP and spend it in the real world with the XORA card. Launched in February 2026 and based in Stockholm, Sweden, XORA is led by founder and CEO Joren Lundgren. More information available at https://xora.finance.

Disclaimer: Crypto investments carry risk. Yields are variable, and the native XRP yield is currently a disclosed, time-limited treasury subsidy. XORA is custodial and not a chartered bank, so balances are not FDIC or government insured. Card features are subject to availability.

Ripple unlocked 1 billion XRP from escrow through three separate transactions valued at nearly $1.04 billion. 

The unlock followed Ripple’s established monthly escrow schedule and increased the amount of XRP available in circulation. 

The release included 500 million XRP worth $519.85 million, 300 million XRP valued at $311.91 million, and 200 million XRP worth $207.94 million. 

However, the release alone did not indicate that the entire allocation would enter the market immediately. Instead, the transaction placed renewed attention on whether the additional supply would eventually influence exchange flows and price performance. 

Spot flows resisted heavy selling pressure Exchange data showed that XRP did not experience aggressive Spot selling despite the billion-token unlock. 

Spot netflows remained negative at approximately -$2.87 million, indicating that exchange outflows continued exceeding inflows during the latest session. 

The pattern suggested traders had not rushed to transfer large amounts of XRP onto exchanges for immediate liquidation. 

Instead, the relatively modest outflow reflected restrained sell-side activity even after Ripple increased circulating supply. However, the negative reading remained small enough to indicate cautious positioning rather than aggressive accumulation. 

Source: CoinGlass XRP clings to support as bears stay active XRP continued defending the $1.03-$1.04 support region after several weeks of declining prices. The asset traded near $1.049 while remaining well below the major resistance levels around $1.26 and $1.50. 

Buyers repeatedly protected the current support zone, preventing another decisive breakdown despite persistent selling pressure. However, the broader structure still favored caution because prices remained beneath previous breakdown levels. 

The MACD also reflected that weakness. Its signal line stayed below the zero line, while the MACD line remained slightly beneath the signal line, indicating bearish conditions had persisted despite the recent stabilization. 

However, the shrinking histogram suggested downside pressure had eased compared with earlier sessions. 

XRP would likely need to reclaim the $1.26 resistance before a stronger recovery structure could develop.

Source: TradingView Where could liquidation pressure strike next? The Liquidation Heatmap revealed that the largest concentration of leveraged liquidity remained below XRP’s current trading price. 

The brightest liquidity zone appeared around the $1.02-$1.03 range, directly beneath the market, highlighting an area where additional downside movement could trigger substantial liquidations. 

Smaller liquidity pockets existed above the current price, although they lacked the intensity shown below support. The imbalance suggests leveraged positions had clustered beneath XRP rather than above nearby resistance. 

If sellers force XRP below its current support, the price could accelerate toward those liquidity pools before stabilizing. However, continued defense of the present range would likely prevent those positions from being triggered.

Source: CoinGlass To conclude, Ripple’s latest 1 billion XRP escrow unlock increased the circulating supply, yet exchange flows remained relatively stable as spot netflows stayed negative. XRP also continued holding above a key support zone despite bearish MACD readings. 

If the current support remains intact, the market could continue absorbing the additional supply. However, a break below $1.03 would likely expose the large liquidation cluster beneath price and increase downside pressure. 

Final Summary Ripple increased XRP’s circulating supply, while spot exchange activity remained relatively unchanged. XRP continued defending key support as bearish technical signals kept recovery under pressure.

XRP, after defending its first major support zone, is now approaching a critical technical threshold. Trading at approximately $1.06, the crypto asset remains above the $0.98–$0.99 region. However, indicators suggest that the overall technical weakness has not yet been fully resolved.

Technical landscape: $1.16 stands out as a turning pointAccording to market research platform More Crypto Online, XRP’s broader structure remains tilted downward. The platform highlights that simply holding the support zone is not enough to confirm a sustained recovery; reclaiming stronger resistance levels is needed for such confirmation. Noted for its focus on wave-based technical analysis, More Crypto Online’s observations suggest the bear trend persists unless key levels are surpassed.

More Crypto Online emphasizes that the bearish structure in XRP can only be significantly weakened if the price decisively breaks above $1.16. Such a move could technically confirm a wider second wave of recovery.

According to Elliott Wave analysis, the main scenario still sees a risk of further pullback. The $0.98–$0.99 range is being watched as the first significant demand zone, and unless there is a clear move above $1.16, the downside structure remains in place.

Mini glossary: Elliott Wave analysis is a technical approach linking price patterns to investor psychology, interpreting market movements through wave structures. The method uses support and resistance levels to project likely next moves in price.

LevelSignificance$1.16First critical resistance that could weaken the bearish outlook$1.27–$1.42Supply zone where stronger selling pressure may emerge$0.98–$0.99Primary support and demand zone$0.74Next major level to watch if support breaksSeller resistance persists despite short-term reboundEven if XRP sees a short-term uptick, a stronger resistance zone lies between $1.27 and $1.42. This area is considered a key supply region, where sellers may reassert themselves. If the price fails to break through this band, any upward movement is expected to be interpreted as a brief relief rally rather than a lasting trend reversal.

While XRP has defended its support, current buying activity does not appear strong enough to completely negate the downtrend scenario.

Downside risks: eyes on the $0.74 levelIf the $0.98–$0.99 support zone is breached, renewed selling pressure could intensify. In this case, a pullback toward $0.74 could come into play, which More Crypto Online identifies as the next crucial support area.

As a result, market focus is converging around two key levels. A move above $1.16 could signal improvement in the technical outlook, while losing the current support would increase the probability of a deeper correction.

Moreover, XRP has historically shown robust performance in July, with past seasonal trends occasionally giving buyers an edge in the short term. Still, unless major resistance levels are broken, the overall technical picture remains cautious, urging patience among traders.

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.

Manny Rutinel has secured the Democratic nomination in Colorado’s 8th Congressional District and will move on to the November election with the backing of a crypto-aligned political action committee. Preliminary results show Rutinel received 61.7% of the vote, while his opponent, Shannon Bird, garnered 33.6%.

Super PAC support stands out in primaryDuring the campaign, the group You Can Push Back Super PAC spent heavily in favor of Rutinel. The PAC, reported to be operating with a $3.5 million donation from Ripple Labs’ co-founder Chris Larsen, spent $1 million ahead of the primary to boost Rutinel’s campaign.

Rutinel has been rated as “strongly supportive of crypto” by Stand With Crypto, a Coinbase-affiliated advocacy group. This assessment is based on his responses regarding stablecoins, market structure, and regulatory clarity. Stand With Crypto is known for tracking and promoting policies on digital assets across the United States.

Voters have witnessed serious allegations of corruption in the crypto space and seen high-ranking officials profit in such an environment. Meanwhile, ordinary people have faced losses and fraud risks.

Crypto funding fuels election debateCoinbase is also a major donor to Fairshake PAC, which supports both Democratic and Republican candidates perceived to be pro-crypto in Congressional races. Fairshake has become one of the most visible political networks influencing US elections through digital asset policy agendas.

The advocacy group Public Citizen reported on Tuesday that the crypto sector has contributed approximately $189 million so far in an effort to sway the outcome of the 2026 US elections. Most of these funds have reportedly been channeled through political action committees.

Some experts believe the industry is following a similar path to its 2024 strategy. They expect crypto advocates to keep funding candidates seen as more favorable to digital assets from their perspective.

Debate over Washington influence intensifiesMark Hays, associate director for crypto and fintech at Americans for Financial Reform, explained that voters are seeking equal treatment for crypto companies, preferring rules similar to those applied to other financial institutions rather than special privileges. Hays emphasized that shaping regulations through political donations creates unease among the electorate.

On Tuesday, White House Deputy Press Secretary Anna Kelly stated that President Donald Trump and his family are not engaged in, nor will they be involved in, any conflicts of interest.

Polling has revealed that the majority of Democratic, Republican, and independent voters are concerned about the influence of industry donations on crypto-related regulations. Americans for Financial Reform noted voters largely favor clear and reasonable rules for the sector.

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.

Jul 1, 2026, 6:25 p.m.

2 min read

Johann Kerbrat, senior vice president and general manager, Crypto and International Robinhood (CoinDesk)Summary

Robinhood launched the public mainnet for its Layer 2 blockchain, Robinhood Chain, bringing tokenized stock trading live in more than 120 countries and introducing Robinhood Earn, a decentralized lending product offering an estimated 7% yield on USDG.The launch comes as Robinhood expands beyond its brokerage roots into crypto, tokenized assets and AI-powered trading, underscoring how the line between traditional finance and blockchain-based finance continues to blur.Robinhood (HOOD) officially launched the public mainnet for Robinhood Chain, marking the company's biggest step yet into onchain financial infrastructure as it looks to expand beyond brokerage services and into decentralized finance.

Announced during a Wednesday event in London, Robinhood Chain is a layer-2 blockchain built on Arbitrum (ARB) and designed for tokenized real-world assets and decentralized finance applications. The launch comes about four months after Robinhood began testing the network on testnet.

With the launch of the public mainnet, Robinhood's tokenized stock products are now also fully live. Stock Tokens are available through Robinhood Wallet in more than 120 countries, although availability varies by jurisdiction. The company said the goal is to allow users to trade tokenized equities around the clock and use them across decentralized finance applications, including lending protocols and as trading collateral.

Robinhood also introduced Robinhood Earn, a decentralized lending product that allows users to lend USDG, the company's dollar-backed stablecoin, through a self-custody wallet. The product offers an estimated annual percentage yield of 7%.

Beyond the Robinhood Chain ecosystem, the company announced several additional product launches and international expansion efforts. Robinhood said it is expanding perpetual futures trading in Europe to include commodities, ETFs and foreign exchange markets alongside crypto. It also plans to launch crypto trading in the U.K. and said its services are now available in Canada following its acquisition of WonderFi.

The company also unveiled Agentic Accounts for crypto, an AI-powered trading tool that will allow eligible U.S. users to connect AI models to Robinhood's trading infrastructure while retaining control over capital allocation and trading parameters.

"Decentralized finance unlocks possibilities beyond what traditional finance can offer, but historically, it has required technical expertise to navigate," Johann Kerbrat, Robinhood's senior vice president of crypto.

Robinhood's product push shows how the lines between crypto and traditional finance are continuing to blur. The brokerage has steadily expanded beyond stocks and spot crypto trading into tokenized equities, derivatives and event contracts, better known as prediction markets. That strategy fits into the race for the "everything exchange" to host all kinds of trading and financial activity under one roof, increasingly on top of blockchain rails.

At the same time, the company also said last month it would lay off 10% of its workforce, some 290 employees, to streamline its organization and management structure.

12345678910

Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

In brief Ethereum Institutional, a new nonprofit, will help Wall Street firms adopt Ethereum-based infrastructure. The group follows last week's launch of Ethlabs, another Ethereum nonprofit backed by many of the same supporters. Both initiatives come as the Ethereum Foundation faces mounting criticism, leadership departures, and a major restructuring. A new nonprofit aimed at onboarding Wall Street to Ethereum launched Wednesday, marking the second major Ethereum-focused initiative backed in recent weeks by network co-founder Joe Lubin alongside top treasury firms BitMine Immersion Technologies and SharpLink.

Ethereum Institutional will serve as an independent point of contact for banks, asset managers, and other financial institutions seeking to get more involved with tokenization, stablecoins, and other on-chain financial infrastructure, according to an organization mission statement.

The organization said it will build on institutional engagement efforts previously led by the Ethereum Foundation, but will operate independently with funding from BitMine and SharpLink, Wall Street’s largest publicly traded Ethereum treasury firms.

Ethereum co-founder Joe Lubin will also anchor the group’s funding, along with dozens of other individual and institutional contributors. (Disclaimer: Lubin, through his company Consensys, and BitMine Chairman Tom Lee are investors in Dastan, Decrypt’s parent company).

Wednesday’s launch follows the debut last week of Ethlabs, a separate nonprofit research and development organization created by former Ethereum Foundation researchers and backed by many of the same supporters.

“Together, Ethlabs and Ethereum Institutional form complementary pillars of Ethereum’s next chapter,” entities involved in both endeavors said, “one advancing protocol-layer innovation and core infrastructure, the other ensuring institutions have a credible, dedicated counterpart to guide them from evaluation through deployment at scale.”

If these organizations see themselves as Ethereum’s future, the implication could be that the Ethereum Foundation is a remnant of the past. The longstanding nonprofit, which has quarterbacked the network’s technical development for years, has come under fire recently for failing to take proactive measures to bolster both ETH’s price and the network’s public image.

In the last few months, numerous Ethereum Foundation leaders have abandoned their posts. The organization then laid off 20% of its workforce last week and instituted a substantial reorganization.

Former linchpins of the Foundation have come out recently with proposals to “save Ethereum” by allocating significant funds towards the goal of increasing ETH’s long-sagging price. The moves were widely seen as digs at Vitalik Buterin, Ethereum’s idealistically minded co-founder and current steward.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Table of contents

The line between traditional finance and Ethereum just got a new, purpose-built entry point. Ethereum Institutional launched this week as an independent non-profit, positioning itself as what the organization calls the dedicated institutional front door for onchain finance. The announcement lands at a moment when tokenized real-world assets have crossed $20 billion onchain, major custodians are building settlement rails, and asset managers are no longer asking whether blockchain fits their stack—they’re working out how quickly they can move.

The details are sparse. The initial disclosure, the original report confirms the entity’s status as a non-profit, but stops short of naming board members, funding sources, or the precise programs it intends to run. That absence of detail is itself a signal: this is a structural play, not a product launch. By incorporating as a non-profit, Ethereum Institutional sidesteps the commercial baggage that comes with being a vendor or service provider. Its mandate, framed loosely as bringing institutional finance onchain at scale, suggests an orchestration role—convening technologists, regulators, asset managers, and protocol teams around standards, education, and shared infrastructure.

The launch comes against a backdrop of accelerating institutional activity across the Ethereum ecosystem. In May, Bullish closed a $4.2 billion acquisition of Equiniti, Ondo Finance and JPMorgan executed the first live tokenized Treasury settlement, and the total value of real-world assets onchain surged past $20 billion, according to a recent roundup. Those moves aren’t experiments; they’re production-grade capital flows. A non-profit gatekeeper could help accelerate that trend by giving allocators a single source of technical and regulatory guidance—something the Ethereum space has historically delivered through a scattered constellation of firms and consortia.

Why a Non-Profit Gateway, and Why Now Institutional entry into decentralized networks isn’t just a technology problem. It’s a coordination problem. The Ethereum landscape today includes multiple layer-2 networks, staking protocols, DeFi venues, and compliance layers, each with its own risk profile and operational nuance. A dedicated non-profit can act as a neutral switchboard without competing with the service providers it aims to onboard. This matters because many of the largest financial institutions remain wary of building on top of for-profit entities that could change terms, deprecate products, or face conflicts of interest. The non-profit structure aligns more naturally with the long-term, public-infrastructure mindset that regulated institutions require before committing balance-sheet capital.

There’s also regulatory timing at play. Just days ago, reports surfaced that major banks were attempting to derail a landmark U.S. crypto bill set for a Senate vote, as BlockchainReporter documented. The legislative fight shows how contested the onramps remain. In that environment, an entity like Ethereum Institutional could serve as an education and advocacy layer, helping policymakers understand the distinction between permissionless speculation and supervised onchain finance—and helping institutions navigate compliance without abandoning the core advantages of Ethereum’s settlement guarantees.

What This Means for Ethereum’s Infrastructure and Market Structure If Ethereum Institutional succeeds in becoming the front door, the downstream effects on Ethereum’s infrastructure could be significant. Institutional flows often demand specific capabilities: segregated custody, onchain identity, verifiable offchain data, and predictable fee environments. Those demands flow directly into layer-2 roadmaps, liquid staking protocols, and zero-knowledge proof deployments that prioritize compliance while preserving auditability. Over the coming quarters, projects that can plug into a unified institutional interface may see faster adoption, while those that can’t may find themselves locked out of the liquidity that regulated capital brings.

There’s already a pattern. Sui’s recent 18% price surge was driven in part by institutional staking from a Nasdaq-listed firm and a fintech integration with Paga, as reported earlier. That episode shows markets reward networks that reduce institutional friction. Ethereum Institutional’s launch, even without granular specifics, signals that the Ethereum ecosystem is deliberately building that friction reduction as a permanent public good.

Uncertainties That Will Shape the Rollout For all the structural logic, a great deal remains unknown. No timeline has been provided for programs, working groups, or deliverables. The organization hasn’t disclosed who is funding it, whether it has the backing of the Ethereum Foundation or any major protocol teams, or how it intends to avoid the fate of earlier enterprise blockchain consortiums that produced more white papers than live capital. The real test will be whether buy-side institutions—pension funds, insurance treasuries, corporate balance sheets—actually walk through the door.

Moreover, the launch does nothing to address the persistent fragmentation across Ethereum’s layer-2 ecosystem. An institutional gateway that isn’t tightly integrated with the major rollups and their compliance stacks risks becoming merely a directory. The market will be watching for partnerships that show genuine operational integration, not just a branding exercise. Still, the non-profit structure gives Ethereum Institutional a longer runway to get this right. In a market where hype cycles are measured in weeks, a deliberately slow, coordination-first entity may be exactly what institutional capital needs before it commits at scale.

AUTHOR

Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.

Crypto analyst Aaron Dishner noted that Bitcoin recorded its lowest daily close since September 2024. According to Dishner, this move caused BTC to fall below its short-term support level, briefly forming a new local low around $57,800.

The analyst stated that the current outlook presents a contradictory picture to Bitcoin’s historically positive July performance. Dishner noted that July has historically been a green month for Bitcoin, with previous “bottom year” Julys of 2018 and 2022 seeing BTC recover an average of around 19 percent.

According to Dishner, this scenario could be consistent with a rebound in Bitcoin driven by overselling, continuing towards the weekly TBO Fast line. However, the analyst added that BTC is still strongly trending downwards on both the daily and weekly TBO indicators.

Dishner noted that Ethereum shows a similar picture to Bitcoin, stating that ETH maintains a strong bearish outlook on its daily and weekly TBO indicators. However, he added that the On-Balance Volume moving average lines for both Bitcoin and Ethereum have begun to flatten. According to the analyst, while this doesn’t confirm a new bull trend, it suggests that the current downtrend may be preparing to change character in the short term.

Excluding stablecoins, the total cryptocurrency market capitalization is still in a strong bearish zone according to the daily TBO Cloud. However, Dishner noted that the OBV moving average is starting to flatten in this area as well. According to the analyst, similar market structures in past July lows were able to recover towards the weekly TBO Fast line before falling again.

Dishner also stated that a potential July recovery could put pressure on stablecoin dominance. According to the analyst, combined stablecoin dominance was hovering near its accumulation zone target of 13%. However, if Bitcoin experiences a rebound, this rate could fall to the lower band of the daily Cloud, i.e., to 11% or lower.

However, Dishner added that the bigger risks haven’t disappeared. According to the analyst, a similar early warning reversal signal was seen before the June decline. Furthermore, August and September remain historically weak months for Bitcoin and the cryptocurrency market. Therefore, Dishner stated that a potential rally in July should not be considered a confirmation that the long-term bottom has definitively formed, but rather a reaction rally stemming from oversold conditions.

On the altcoin side, according to the analyst, tactical opportunities are emerging in some assets. Dishner stated that Solana is working on a second TBO Close Short signal, which could be a bullish reversal signal in the short term. He noted that there is room for HYPE up to around $79,372, the 1,272 Fibonacci extension level, that a TBT bullish divergence structure is developing in BCH, that XMR could target the TBO resistance at $418.60 in an upward move, and that a second weekly TBT bullish divergence cluster is forming in KAS.

Dishner also noted that altcoins such as ICP, WLD, FET, SEI, WIF, and FARTCOIN are showing signs of rebound or reversal. Conversely, he said that some of the best-performing assets of late, like LAB, are starting to lose momentum.

*This is not investment advice.

Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!