Trader Eugene: Bitcoin Needs Volume Breakout Above $115,000 to Clearly Accelerate Uptrend

On July 10th, Glassnode announced in a post that during the recent Bitcoin (BTC) rally to $11.2k, short-sellers were once again affected. However, this time, active buying interest was also noticed. In contrast to the substantial decrease in Open Interest (OI) of futures contracts during the late June rally, this time the OI positions actually rose - suggesting that new long positions were entering the market rather than just short covering driving the rally.

On July 10th, according to Ashes Monitor. Two hours ago, the investment fund of the 1inch team purchased 4.12 million 1INCH ($880,000) to the withdrawal address and then transferred another 2 million USDT to Binance, possibly with the intention of continuing to purchase 1INCH.

On July 10th, according to HTX market data, PENGU briefly rose above $0.02 and is now trading at $0.0198, with a 24-hour increase of 34.65%.

On July 10th, officials from Kinto declared that they have identified a network vulnerability that impacts the deployment of the K token on the Arbitrum chain. As of now, other funds bridged to the Kinto network within users' wallets are in a safe state. Seal 911, Hypernative, Venn, Zeroshadow, and other institutions are actively collaborating in a comprehensive investigation.

On July 10th, as per CoinDesk, the European Securities and Markets Authority (ESMA), which is the financial regulatory body of the 28-country trade bloc of the European Union, has carried out a peer review of Malta's implementation of the Markets in Crypto-Assets Regulation (MiCA) framework. The review focused specifically on the island's expedited authorization process for an unnamed crypto company. The ESMA's Peer Review Committee (PRC) specifically examined the authorization of this crypto asset service provider (CASP entity). Although there were "significant outstanding issues to be resolved or rectified" at the time of MiCA authorization, the entity was still granted authorization.

On July 10th, Bitwise released the "Q2 2025 Corporate Bitcoin Adoption Report". As of June 30th, a total of 125 publicly traded companies worldwide held 847,000 bitcoins, accounting for 4.03% of the total Bitcoin supply. The market value of these bitcoins was approximately $91 billion, representing a 60.93% increase from the previous period. During this quarter, there was a net addition of 159,000 bitcoins, setting a new annual record, with 46 new holding companies. Among the top holding companies, Strategy held the highest position with 597,000 bitcoins. MARA Holdings held 49,940 bitcoins, and newcomer Twenty One held 37,230 bitcoins. The report also pointed out that GameStop completed its first Bitcoin purchase, and Trump Media is currently raising $2.5 billion for Bitcoin accumulation. As more and more companies enter the Bitcoin market, this digital currency is becoming an important asset allocation for institutional investors. In this trend, BiyaPay provides users with diversifi