Bitcoin (BTC) — Onchain News & Whale Tracking

A whale holding a 40x leveraged long Bitcoin position worth nearly $40 million was stopped out after just 18 hours.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale that opened a 40x leveraged long BTC position worth $38.67 million starting last night cut its losses after holding the position for just 18 hours, suffering a single loss of $368,000. The whale’s entry price was $64,469, with a stop-loss set at $63,859, triggering an immediate stop-loss after BTC dropped by just 1%.

A prominent trader says Bitcoin’s cycle is accelerating, and firmly believes this cycle will still hit a new high before the halving.

Renowned trader Killa (@KillaXBT) stated in a post that Bitcoin’s cycle is accelerating. The previous cycle took just 476 days to rise from its bottom to a new all-time high (ATH), far faster than the two prior cycles. He forecasts this cycle will also hit a new high ahead of the next halving. Killa, a BTC-focused quantitative trader, accurately predicted the peak of the current bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 before switching to long positions during the broad market sell-off on June 5.

Bitcoin plummeted sharply, with $117 million in liquidations across the network in the past hour; Maji once again quickly closed out long positions.

According to Coinglass data, Bitcoin plummeted after 8 PM tonight, briefly falling below $64,000 and currently trading at $64,157.87. As a result, $117 million in liquidations were recorded across the network in the past hour, with $114 million stemming from long positions. Separately, HyperInsight monitoring shows that trader "Ma Ji" urgently closed long positions during the market decline to avoid liquidation. As of press time, he still holds 3,100 ETH in 25x long positions, with a liquidation price of $1,841, which remains 1% away from the current market price.

Is the 'Binance Buy Wall' Well-Founded? Bitcoin Slips Below $64,000.

According to HTX market data, Bitcoin has fallen below $64,000, currently trading at $63,981.00, with a 24-hour decline of 1.51%. Earlier, prominent trader Killa (@KillaXBT) noted, “Binance’s plunge protection team is back. Typically, when large buy orders start lining up just below the price, market makers and algorithms tend to temporarily front-run them.” His screenshot shows multiple horizontal lines appearing below Bitcoin’s current price starting around $62,000, with the densest and most prominent buy wall located near and below $58,000. A similar scenario occurred during the market-wide crash night on June 6.

Bitcoin ETFs outflow $225M today but gain $389.93M weekly; Ethereum up $184.78M

July 24 Update: #Bitcoin ETFs: 1D NetFlow: -3,507 $BTC(-$225.56M)?? 7D NetFlow: +6,063 $BTC(+$389.93M)?? #Ethereum ETFs: 1D NetFlow: +12,522 $ETH(+$23.32M)?? 7D NetFlow: +99,239 $ETH(+$184.78M)??

Bitcoin plunged sharply in nearly 10 minutes ahead of the US stock market’s opening, dropping over 0.6%.

According to HTX market data, Bitcoin plunged sharply ahead of the US stock market open, falling more than 0.6% in nearly 10 minutes after 9 PM, and is currently trading at $64,395.54. Earlier, prominent trader Killa (@KillaXBT) noted, “Binance’s crash protection team is back. Typically, when large bid orders start clustering just below the price level, market makers and algorithms tend to temporarily front-run them.” His screenshot shows multiple horizontal lines forming below Bitcoin’s current price starting around $62,000, with the densest and most obvious buy wall appearing near and below $58,000. A similar scenario occurred during the market-wide crash night on June 6.

Well-known trader: Bitcoin’s 'protective' buy wall reappears on Binance

Well-known trader Killa (@KillaXBT) posted screenshots describing the situation as "textbook-like". Binance’s plunge protection team is back. Typically, when large bid orders start clustering just below the price, market makers and algorithms tend to temporarily front-run them. The screenshots show multiple horizontal lines appearing below Bitcoin’s current price starting around $62,000, with the densest, most prominent buy orders forming from roughly $58,000 downwards. As of press time, Bitcoin is trading at $64,803.44 according to HTX data, with a 0.46% drop over the past hour. After Bitcoin plunged below $60,000 on June 6, large buy orders emerged below BTC’s market price on Binance, an event Killa referred to as the "plunge protection team" returning. Killa, a BTC-focused quantitative trader, previously predicted the peak of this bull run in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 and shifted to long positions during the broad market sell-off on June 5.

BlackRock, Coinbase and others launch $15 million Bitcoin Quantum Defense Fund.

BlackRock, Coinbase, Strategy, Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets, and Galaxy have formed the Bitcoin Security Consortium, pledging a combined $15 million over three years to fund Bitcoin security research and open-source development focused on quantum computing defense. The consortium does not hold or allocate funds; each member will directly select developers and researchers to support. It noted that it will not guide Bitcoin development or take positions on protocol changes. Mike Schmidt of Brink, a nonprofit developer funding organization, will coordinate the work on a volunteer basis. Currently, no quantum computer exists that can crack Bitcoin’s cryptography. Approximately 6.9 million BTC, worth $450 billion, are held in addresses that could be affected if such quantum computers emerge. Fixing this issue will require coordination among wallets, exchanges, miners, and users. Relevant efforts include proposals like BIP 360, which designs a new output type to limit public key exposure and pairs with post-quantum signature schemes. Robert Mitchnick, head of digital assets at BlackRock, stated that Core developers do important work, and the organization will provide additional funding for Bitcoin’s long-term security.

BlackRock’s Bitcoin ETF has deposited 3,126 bitcoins worth $203 million into Coinbase Prime.

According to monitoring by Onchain Lens, BlackRock’s Bitcoin ETF deposited 3,126 Bitcoin into Coinbase Prime over the past hour, valued at $203 million.

Glassnode: Defensive positions in Bitcoin options are being unwound, and demand for bearish hedging is weakening.

Glassnode released Bitcoin options market data showing that the Bitcoin put/call open interest ratio has dropped sharply from around 0.76 at the end of June to 0.52, indicating that defensive positions are being unwound, while BTC price remains stable near $67,000. At-the-money (ATM; BlockBeats note: An at-the-money option refers to an option whose strike price is closest to the current price of the underlying asset) implied volatility remains compressed: 34.3% for 1-month tenors and 40.8% for 6-month tenors, with the term structure sloping upward, signaling that short-term event risks are being underestimated by the market. The short-term 25-delta skew has plummeted to around 4%, reflecting weakened recent demand for bearish hedging, though medium- and long-term skew still holds at a defensive premium level of 11-12%.

MicroStrategy’s Bitcoin holdings currently have an unrealized loss of $8.8 billion.

According to HTX market data, Bitcoin is currently priced at $65,010. Strategy’s Bitcoin holdings are currently showing an unrealized loss of 13.9%, amounting to approximately $8.8 billion. As of July 20, Strategy holds 843,775 Bitcoin, with a total cost of $63.7 billion and an average cost of $75,476 per Bitcoin.

Analyst: Bitcoin holders as a whole have returned to profitability, but it is still too early to confirm the formation of a new bull market.

CryptoQuant data shows that Bitcoin’s profitable supply ratio has rebounded from 46.2% on June 30 to 57.5% as of July 22, crossing back above the 50% threshold and nearing 60%. However, analysts note that while Bitcoin holders as a whole are back in profit, this is not enough to confirm the start of a new bull market. CryptoQuant analysts state that past bear market ends typically require two conditions to be met simultaneously: the 30-day simple moving average (SMA) of long-term holders’ Spent Output Profit Ratio (SOPR) remains consistently above 1, and Bitcoin’s profitable supply ratio rises above 64%. This cycle saw a failed breakout earlier: between April 28 and June 1, the average SOPR of long-term holders stayed above 1 for 35 consecutive days, and the profitable supply ratio hit 67%, but both metrics subsequently fell. Since then, the 30-day SMA of long-term holders’ SOPR has remained below 1 for over 50 consecutive days, indicating that on-chain transfers by long-term holders are still predominantly unprofitable. Meanwhile, spot market demand remains weak, while institutional Bitcoin allocations have seen a slight rebound. Analysts add that while current profitability metrics are improving, whether the recovery can be sustained remains to be confirmed.

The probability that Bitcoin will rise to $70,000 this month is 13%.

Prediction market platform Polymarket puts the probability of Bitcoin rising to $70,000 in July at 13%. Additionally, the probability of Bitcoin hitting $75,000 is 1%, while the probability of it falling to $60,000 stands at 14%.

Crypto whale sets 10 key targets, forecasts Bitcoin will retest the $100,000 level around March next year.

Whale "Xian Ding 10 Big Goals" stated in a post that after closing its short positions, it quickly re-established long positions, as its medium- to long-term bullish view on Bitcoin remains unchanged. It believes the key dividing zone of the last bull market is around $60,000, and Bitcoin’s current mainstream mining cost is also concentrated between $50,000 and $60,000. Last month, Bitcoin dipped to $58,000 before rebounding rapidly, further confirming the support capacity of this zone. Over the past month, Bitcoin has undergone sufficient consolidation and turnover in the $58,000–$63,000 range, and has re-stabilized near $66,000 after a pullback. Provided there are no systemic risks or major fundamental changes, the risk-reward ratio of chasing short positions at current levels is no longer favorable, and the market may see a volume-driven rally that breaks through $72,000. If the market structure does not change significantly, Bitcoin has a high probability of retesting $100,000 around March next year. Currently, US stocks—especially AI-related sectors—are trading at relatively high valuations and may face significant volatility going forward. Bitcoin’s correlation with US stocks has decreased notably compared to previous cycles, and it is gradually moving toward an independent trend. The whale has set a trading invalidation zone for its current positions: if the market falls back to $61,500–$64,000 and the trend proves its judgment wrong, it will immediately close positions to control losses. It emphasized: "Views can be adjusted, but discipline must remain unwavering." Additionally, the latest public data shows that the whale "Xian Ding 10 Big Goals" has set the position of its Binance real futures account "Jason leo133" to private.

BitMEX was hit with a lawsuit involving 623 Bitcoin (BTC) on the same day it announced its shutdown, and is accused of manipulating liquidations for profit.

Crypto derivatives trading platform BitMEX faced a class-action lawsuit on the same day it announced it would cease operations in September, accused of manipulating users’ forced liquidations and profiting via internal trading privileges and system mechanisms. BKX Services Inc. and David Namdar filed the suit Thursday with the U.S. District Court for the Southern District of New York, alleging BitMEX fraudulently designed its liquidation mechanism, resulting in total user losses of 622.66 BTC. BKX claims losses of at least 305.81 BTC, while Namdar says his losses exceed 316.85 BTC. The plaintiffs allege BitMEX’s internal trading team accessed users’ private transaction data and continued trading while regular users were unable to close positions due to server freezes, profiting from forced liquidations. Court documents state BitMEX allowed users up to 100x leverage; when a user’s position triggered liquidation, the platform executed automatic liquidation even if collateral value remained higher than actual losses, transferring the remaining BTC to its insurance fund. The plaintiffs are seeking return of the withheld BTC, compensatory and punitive damages, and aim to represent U.S. users who traded BitMEX’s BTC swap products since July 23, 2018. The lawsuit has reignited longstanding external controversy over BitMEX’s liquidation mechanism. Previously, a class-action lawsuit over similar allegations was filed by users in 2020; that case was voluntarily dismissed on June 30, 2025, and does not preclude future filings.

U.S. spot Bitcoin ETFs posted a net outflow of 225.1 million U.S. dollars yesterday.

According to Farside’s monitoring, U.S. spot Bitcoin ETFs posted a net outflow of $225.1 million yesterday, ending a streak of seven consecutive trading days of net inflows. Breakdown by fund: IBIT saw a net outflow of $202.5 million; FBTC recorded a net outflow of $5.6 million; BITB’s net outflow stood at $7 million; ARKB’s net outflow hit $4.3 million; EZBC’s net outflow came to $5.6 million; BTCW’s net outflow totaled $5.1 million; while MSBT posted a net inflow of $5 million.

Bitcoin drops below $65,000, logging a 0.8% decline over the past 24 hours.

According to HTX market data, Bitcoin has fallen below $65,000, posting a 0.8% drop in the past 24 hours.

Bitcoin treasury firm Empery makes a $20 million strategic preferred stock investment in AI data center developer CDP.

Crypto treasury firm Empery Digital (EMPD) disclosed that it has completed a strategic $20 million preferred equity investment in AI data center developer Cardinal Data Power (CDP). Post-transaction, EMPD holds an approximately 8% stake in CDP. The investment is a key component of CDP’s total $70 million Series A funding round, with all raised capital earmarked for launching its first AI data center campus in West Texas, the U.S.

Bitcoin Security Alliance Launched! Nine major firms including Strategy, BlackRock, and Coinbase have joined, committing $15 million to fund core developers and quantum-resistant research.

Nine financial institutions and crypto firms have jointly announced the launch of the Bitcoin Security Alliance, whose founding members include Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity, Galaxy, and Strategy, covering end-to-end entities across custody, trading, infrastructure, payments, and asset management. The alliance has pledged a total of $15 million over the next three years to fund developers and researchers working on Bitcoin security, including long-term efforts such as preparing Bitcoin for the future quantum computing era. Each member independently decides which developers, researchers, or organizations to allocate funds to. The alliance’s day-to-day operations are coordinated on a voluntary basis by Mike Schmidt, executive director of Brink, a nonprofit that funds Bitcoin open-source developers. The alliance clarifies that it will not develop or dictate Bitcoin protocols, take stances on specific protocol changes, or represent Bitcoin or its developers—Bitcoin’s development remains the work of its global, decentralized contributor community. It positions itself to follow the model of industry organizations that have long supported open-source software, providing resources and attention to developers without controlling underlying work. Strategy CEO Phong Le stated, “As long-term holders, ensuring Bitcoin’s security for generations is our biggest motivation”; BlackRock Global Head of Digital Assets Robert Mitchnick noted that the work of Bitcoin’s core developers is “extremely important,” adding that the pledge will provide “significant additional funding” for Bitcoin’s long-term security needs. The alliance will also serve as a trusted source of information on Bitcoin security for investors, the public, and media, with plans to release and regularly update Bitcoin security-related materials in the coming months.

CryptoQuant Founder: Bitcoin Spot Demand Is Weakening

CryptoQuant founder Ki Young Ju stated in a post that spot demand for Bitcoin is weakening, while demand in the futures market remains positive but has dropped significantly compared to levels during the market rebound three months ago.

Analysis: Bitcoin short-term holders have been in a losing position for roughly nine consecutive months, with $65,000 emerging as a key level.

CryptoQuant analyst Darkfost noted in a post that Bitcoin’s short-term holders—defined as those holding coins for no more than 155 days—have been in a state of realized loss for roughly nine consecutive months, a characteristic typically aligned with bear market environments. Estimates put the average cost basis of these short-term holders at around $68,800, leaving the group under notable pressure. As Bitcoin attempts to establish a foothold above $65,000, short-term holders are projected to continue selling at a loss of approximately 4%.

Bithumb’s Mistaken Bitcoin Transfer Recovery Case to Get First Verdict on August 27

Digital Asset reports that a South Korean court will issue its first-instance ruling on August 27 regarding Bithumb’s accidental Bitcoin distribution incident. The involved users are accused of selling the mistakenly received BTC and holding approximately 194 million won in cash. Bithumb has previously filed unjust enrichment lawsuits against four users, with the highest case amount reaching around 500 million won. In February this year, Bithumb mistakenly recorded won points as Bitcoin when distributing event rewards, then launched a recovery process, stating that as of March 10, it had recovered 99% of the 1,788 BTC that remained unrecovered.

Yesterday, Bitcoin spot ETFs recorded a net inflow of $69.1 million, while Ethereum spot ETFs saw a net inflow of $72.7 million.

According to data from Farside Investors, U.S. spot Bitcoin ETFs logged a total net inflow of $69.1 million yesterday. BlackRock’s IBIT led with a $38.8 million net inflow, followed by Fidelity’s FBTC at $21.5 million, Bitwise’s BITB at $5.4 million, and MSBT at $3.8 million. Grayscale’s GBTC, however, saw a net outflow of $38.3 million, while all other products had zero net flow. In the same period, U.S. spot Ethereum ETFs posted a total net inflow of $72.7 million: BlackRock’s ETHA took in $53.5 million, Fidelity’s FETH added $19.2 million, and all other products recorded no net flow.

Upbit will list o1 Exchange (O) trading pairs against KRW, Bitcoin, and USDT.

According to official announcements, Upbit will list o1 Exchange (O) trading pairs against the Korean won (KRW), Bitcoin, and USDT, with the launch scheduled for 3 PM local time on July 23.

Institutional buying demand for Bitcoin has dropped to a low, while spot Bitcoin ETFs have recorded a net outflow of $2.1 billion over the past 30 days.

CryptoQuant analyst Darkfost noted in a post that spot Bitcoin ETFs saw a net outflow of approximately $2.1 billion over the past 30 days. New demand from Strategy and other Bitcoin treasury firms has stayed near zero for several consecutive weeks. He estimated that monthly demand from such treasury companies peaked at around $6.6 billion in August 2025, when BTC traded at roughly $115,000. Now, with BTC at about $65,000, this related demand has largely vanished.

Japan plans to launch a Bitcoin ETF in 2028, with individual funds likely to become the main source of inflows.

According to a report by the Nikkei, Japan is expected to launch a Bitcoin ETF as early as 2028. With the revised Financial Instruments and Exchange Act bringing crypto assets under the regulatory scope of financial products, Japan’s Financial Services Agency (FSA) plans to adjust rules related to investment trusts to allow funds and ETFs to hold crypto assets as their primary investment target, with multiple asset management firms already considering participation. Interest in crypto assets among Japanese institutional investors is on the rise: a survey by Nomura Holdings and Laser Digital shows that around 79% of institutional investors and family offices plan to invest in crypto assets over the next three years. However, unlike U.S. Bitcoin ETFs which are driven primarily by institutional capital, Japan’s institutional investor base is relatively small, and household financial assets in the country have a high cash proportion, meaning funds from individual investors are likely to be the main source of inflows. Analysts project that Japan’s Bitcoin ETF could attract up to 3 trillion yen in inflows by fiscal 2028.

Tesla’s Q2 Bitcoin holdings remain unchanged at 11,509, with the company confirming an impairment loss of $112 million.

Tesla’s Q2 financial report shows the company neither increased nor decreased its Bitcoin holdings, continuing to hold 11,509 BTC. Due to Bitcoin’s roughly 14% decline during the quarter, the automaker recorded a $112 million after-tax impairment loss on its digital assets. As a result, Tesla has not traded Bitcoin since 2022.

Analyst: Bitcoin shows signs of recovery, but its uptrend remains unconfirmed.

Bloomberg senior ETF analyst Eric Balchunas wrote that since the 250th anniversary of U.S. Independence, Bitcoin has risen around 8% cumulatively, outperforming most assets. Meanwhile, inflows into Bitcoin spot ETFs have started to rebound, with net inflows of roughly $750 million in the past week. Balchunas noted that it is still hard to fully believe this rally has established a stable trend, but it is not unexpected that Bitcoin has rebounded after its prior pullback, adding that its future trajectory remains to be seen. Early Bitcoin holders have been continuously selling assets over the past nine months, which has been weighing on prices; if these holders cease selling, Bitcoin could rally.

Analyst: $68,000 is a key resistance level for Bitcoin, which may face significant selling pressure.

Bitcoin rose above $65,800, hitting a new high in over a month. U.S. spot Bitcoin ETFs recorded net inflows for the sixth consecutive trading day, with $203 million flowing in on Tuesday, bringing the cumulative inflow since July 13 to roughly $779 million; spot Ethereum ETFs saw a net inflow of $37.5 million on the same day, marking the third straight day of inflows. Bitfinex analysts note $68,000 is Bitcoin’s next key level, where the cost basis of short-term holders and the Q2 opening price converge. Investors who bought in the past five months and are still in the red may sell when prices return to their cost lines, so the first test of this level could trigger significant selling pressure. K33 Research Head Vetle Lunde said Bitcoin remains in a seasonal low-volume phase: as of July 19, its 30-day spot trading volume was only 62.4% of the full-year average. CME Bitcoin open interest for July has stayed below 100,000 BTC, hitting its lowest since October 2023, indicating weak institutional participation. ETF inflows have improved in the same period, but are mainly driven by BlackRock’s IBIT. Capital.com analyst Daniela Hathorn views $63,000 as the near-term support level. If Bitcoin holds above this level and reclaims the $65,000–$66,000 range, it could boost upward momentum for further tests; if it breaks below support, a new round of profit-taking may be triggered.

A prominent trader has noted that Bitcoin has completed its five-wave adjustment, with the technical structure indicating a potential bottom may have formed.

Renowned trader Killa (@KillaXBT) published an analysis noting that Bitcoin’s historical bear markets typically complete a 5-wave correction and form two key peaks. The first peak often occurs during the first sharp rebound after the market top—this is the "complacency peak" where the market widely believes a bull market has returned—after which prices usually go on to hit new lows. He points out that a similar structure has been observed in the 2014, 2022, and 2026 cycles. After the complacency peak forms, the market typically sees a "dead cat bounce" that establishes a temporary bottom; as market sentiment worsens and short positions become concentrated, a short squeeze then drives a price rebound, with the final bottom usually forming after a second key retest. Killa argues that BTC has now swept through the bottom formed by the dead cat bounce and completed a 5-wave correction structure similar to past cycles. From a structural perspective, the correction wave is complete, and the low point may already be in place. However, he remains cautious about the timeline: past bear markets typically lasted around 365 days to form their final bottom, but if the current cycle’s low has already emerged, it has only taken roughly 260 days—about 100 days ahead of historical timelines. He currently holds a 50/50 outlook, but believes the likelihood of a higher low forming next is greater than that of a significant new low.

Crypto whale sets 10 major targets, shares short Bitcoin trade details, with over $980,000 in unrealized profit.

Crypto whale "Set 10 Big Goals First" posted on social media about a 4x leveraged short position on Bitcoin, reporting an unrealized profit of over $980,000 and a 2.19% return on investment. He noted, "This is a short-term short on Bitcoin." Earlier reports showed the same crypto whale closed out his long Bitcoin position for a profit in the early hours of today, netting $6.019 million. He said, "The uptrend remains unchanged; I took profits on this position to lock in gains and will take a two-day break."

Analysts: Bitcoin’s current rally is driven by short squeezes and leverage, while spot demand remains sluggish.

CryptoQuant analyst Sunny Mom stated in a post that Bitcoin surged from roughly $64,000 to $66,000 over two days, but the rally was driven more by short squeezes and leveraged capital rather than a meaningful recovery in spot demand. Between July 18 and 19, funding rates briefly turned negative; after short positions were squeezed, this triggered the price rebound. Concurrently, open interest rose from around $21.2 billion to a record $23 billion, signaling continued inflows of new leveraged positions. Data shows Bitcoin’s spot trading volume has been "cooling down" since April and has not yet rebounded significantly, while futures volume remains at a "neutral" level with no notable spike. Stablecoin net flows on exchanges are negative, yet total stablecoin market capitalization has not dropped sharply, indicating most funds are still on the sidelines. US Bitcoin spot ETFs have logged inflows for the second straight week, with a single-day net inflow of approximately $271 million on July 20—including $116.5 million into IBIT—reflecting partial institutional funds returning, though the scale is too small to lift overall spot volume. Sunny Mom added that the rally was kickstarted by a short squeeze, sustained by leveraged capital, with ETF funds trickling back gradually. The current market is not overheated, but the rally’s foundation remains fragile; if momentum weakens, leveraged positions could be unwound rapidly, potentially triggering a sharp market correction.

Bitcoin mining pool Foundry has launched a vote, with miners set to decide whether to support the BIP-110 proposal.

One of Bitcoin’s largest mining pools, Foundry USA, is inviting its miner clients to vote on whether the pool will support Bitcoin Improvement Proposal (BIP) 110. BIP-110 is a hotly debated soft fork proposal aimed at reducing the volume of storable data in Bitcoin transactions, to limit non-monetary transaction types such as Ordinals from occupying Bitcoin network space. Foundry stated it has provided relevant proposal materials to its miner clients, with the voting window set to close at Bitcoin block height 961,632, expected in early August. Miners can participate in the vote via a link sent to their emails. BIP-110 is currently one of the most divisive proposals in the Bitcoin community. Supporters argue the proposal helps ease pressure on block space from non-financial transactions, while opponents worry it could harm the openness of the Bitcoin network. Blockstream CEO Adam Back has publicly opposed BIP-110, claiming it could be used to freeze user funds. Strategy Executive Chairman Michael Saylor also criticized the proposal, saying it might disrupt some normal transactions. According to Hashrate Index, Foundry USA currently holds approximately 23.8% of Bitcoin’s total network hash rate, making it one of the world’s largest Bitcoin mining pools. Its stance on BIP-110 could impact future community discussions and deployment of the proposal.

Analysis: Bitcoin’s volatility falls to its lowest level since 2016, sustained deleveraging reduces liquidation risks

Crypto Quant analyst Axel Adler Jr noted in a post that Bitcoin has recently entered a low-volatility compression phase. The 30-day average of its 1-week realized volatility has fallen to 28.3, a roughly 31% drop from the June 25 peak of 41.6. The metric has also retreated to around the 8th percentile of its historical distribution since 2016, meaning 92% of past trading days saw higher volatility than current levels. Meanwhile, Bitcoin’s 30-day momentum of open interest (OI) relative to market capitalization has been negative for 21 consecutive days, signaling market leverage is continuing to decline rather than accumulating amid the low-volatility environment. The cryptocurrency’s current price has rebounded approximately 11.4% from its June low, but this uptick has not been paired with an expansion of derivative positions, reducing the risk of a large-scale liquidation cascade. However, Bitcoin remains below its 200-day moving average of $72,666. If volatility rises back above 35 while the price fails to hold above the long-term moving average, downside risks could increase.

Bitcoin crosses $66,000, down 0.32% in 24 hours.

According to HTX market data, Bitcoin has broken through $66,000, currently trading at $66,005.32, with a 0.32% drop over the past 24 hours.

Galaxy Digital launches $5 million fund to advance research and development of quantum-resistant security for Bitcoin.

Crypto financial services firm Galaxy Digital has announced the launch of the $5 million Bitcoin Quantum Readiness Initiative, which will fund developers researching solutions to counter future quantum computing threats. The program is now open for applications, with funding areas including post-quantum signature algorithms, wallet migration tools, and security audits, among others. Galaxy said it aims to attract more institutions to contribute capital and research, accelerating Bitcoin’s transition to post-quantum cryptography. According to CryptoQuant data, if future quantum computers gain the capability to crack Bitcoin’s existing encryption algorithms, roughly 6.9 million BTC (worth approximately $461 billion at current prices) could face theft risks. While the industry widely holds that quantum computing is not yet a threat to the Bitcoin network in the short term, protocol upgrades require long-term collaboration among developers, wallet providers, exchanges, and users, so relevant preparations should be initiated as early as possible.

Bitcoin fluctuates around the $66,000 mark, while chip stocks extend their rally and the Japanese yen hits a 40-year low.

Bitcoin traded sideways near $66,000 on Wednesday, holding steady at its two-week high. Driven by upbeat AI sentiment, global chip stocks rose for the second consecutive session, while USD/JPY fell below 163 to hit its lowest level since 1986. As of press time, Bitcoin is up nearly 1% intraday, around 3% week-to-date, with 24-hour trading volume of ~$31 billion. Ethereum (ETH) trades at ~$1,920, up ~3% weekly; XRP gains 2% to $1.13, TRX edges higher; HYPE underperforms, down 4% on the day and ~10% over the past seven days. In Asian equities, the MSCI Asia Pacific Index rose 1%. South Korea’s KOSPI surged 5% before paring gains at midday, with SK Hynix leading gains by over 13%. The move follows the U.S. semiconductor index’s more than 5% jump on Tuesday, which helped it exit its technical bear market. In the forex market, USD/JPY broke below 163, marking a nearly 40-year low. While Japanese Finance Minister Satsuki Katayama stated authorities remain ready to take decisive forex intervention steps if needed, a stronger U.S. dollar, rising U.S. Treasury yields, and Iran-related oil price hikes have collectively amplified yen depreciation pressure. Analysts note that the fiat currency depreciation environment has long been a key pillar of Bitcoin’s narrative as an "inflation hedge and currency devaluation safeguard," though Bitcoin’s recent price correlation with chip stocks remains stronger than its link to the yen exchange rate.

Yesterday, U.S. spot Bitcoin ETFs recorded a net inflow of $203.2 million, marking six consecutive trading days of inflows.

According to Farside's monitoring, U.S. spot Bitcoin ETFs recorded a net inflow of $203.2 million yesterday, marking six consecutive trading days of net inflows. Among them, IBIT saw a net inflow of $163.9 million, FBTC $23.1 million, ARKB $9.7 million, and Grayscale Bitcoin Trust $6.5 million.

UK-based crypto treasury firm Satsuma will sell 668 Bitcoin and initiate delisting.

UK-based Bitcoin treasury firm Satsuma’s shareholders have approved the sale of its 668 Bitcoin reserves and initiated delisting procedures. The company will offload all 668 BTC, with delisting expected to be completed by September 14, 2026, and fund payments plus CREST transfers finalized by September 28. Satsuma’s Bitcoin reserve strategy lasted less than a year; it earlier raised $218 million via convertible notes, later selling some Bitcoin to repay holders of unconverted notes. As of April this year, the firm’s stock price had fallen more than 99% from its peak.

Galaxy launches Bitcoin quantum security initiative, aimed at protecting Bitcoin against potential threats.

According to official announcements, Galaxy today launched the "Bitcoin Quantum Security Initiative"—a multi-faceted program aimed at helping Bitcoin mitigate potential threats from advancing quantum computing. The initiative consists of three core components: providing developer grants of up to $5 million to support R&D of post-quantum cryptography solutions for Bitcoin; establishing a dedicated research and publication program through Galaxy Research to advance quantum security-related studies; and forming a Quantum Advisory Board, which will bring together top experts in quantum computing and post-quantum cryptography to guide Bitcoin’s quantum security efforts. Bitcoin’s current security relies on elliptic curve cryptography. Theoretically, this cryptographic system could be compromised once a sufficiently powerful quantum computer is developed. While no quantum computer capable of cracking modern cryptography exists globally today, industry forecasts suggest the timeline for achieving this breakthrough is accelerating. The U.S. National Institute of Standards and Technology (NIST) officially released its first batch of post-quantum cryptography standards in 2024. Furthermore, a recent U.S. executive order requires the federal government to complete deployment of quantum attack protection for traditional cryptographic systems by 2031, further highlighting the urgency of quantum security concerns.

Japan's largest Bitcoin treasury company Metaplanet now has CRMC as its largest shareholder.

Japan’s largest Bitcoin treasury company Metaplanet Inc. has disclosed a change in its major and largest shareholder: U.S. investment advisory firm Capital Research and Management Company (CRMC) became the firm’s largest shareholder via additional share purchases. CRMC’s directly held voting shares rose from 1.1865 million to 1.3606 million, with its stake in total shareholder voting rights increasing from 9.32% to 10.63%.

CoinShares enters Europe’s UCITS fund market, launching a Bitcoin mining UCITS ETF.

Crypto asset management firm CoinShares has launched a UCITS platform, debuting its first fund—the CoinShares Bitcoin Mining UCITS ETF—which began trading on Deutsche B?rse’s Xetra exchange on Tuesday. CoinShares stated that a key barrier preventing institutional investors from entering the crypto space has been product structure: many institutional investment mandates restrict holdings of debt securities, and the UCITS framework will effectively lift this limitation. The UCITS platform is a fund issuance and management platform based on the EU’s Undertakings for Collective Investment in Transferable Securities (UCITS) regulatory framework. It enforces strict requirements for fund products on investment limits, risk diversification, liquidity, and disclosure to safeguard investors, while offering the "European Passport" mechanism, enabling approved funds to be sold freely across the entire EU/European Economic Area (EEA). Crypto asset managers including CoinShares launching UCITS platforms essentially package Bitcoin mining and crypto-related strategies into compliant UCITS funds or ETFs, facilitating European institutional and retail investors’ safe allocation to crypto assets via traditional channels.

Michael Saylor speaks out against Bitcoin BIP-110, arguing the proposal essentially forces "currency purity" through legal means, which runs counter to the core tenets of decentralization.

Michael Saylor, founder of Strategy, stated that attempting to modify Bitcoin rules solely due to disapproval of how others use Bitcoin is a statist impulse, contrary to the Bitcoin community’s core values of freedom, property rights, free markets, and Austrian economics principles. BIP-110 is essentially an attempt to enforce "monetary purity" through legal means, which is inconsistent with Bitcoin’s core concept of decentralization. On the 19th, Michael Saylor opposed BIP-110, arguing that its governance risks outweigh the problems it seeks to solve. He claimed the proposal attempts to restrict the use of currently valid, fee-paying transactions via consensus rules, which could elevate disputes over use cases like data storage to the protocol layer. BIP-110 would add seven consensus restrictions over its approximately one-year validity period, including limiting the length of new script public keys, the size of certain push data and witness items, and disabling some Taproot extension paths, among other measures. Saylor also listed 110 reasons to oppose BIP-110. He objected to the proposal’s 55% miner signaling threshold, noting it is significantly lower than BIP-9’s 95% standard, and that eliminating regular timeouts and FAILED states could increase coordination errors, chain splits, and market uncertainty. Saylor believes that tools such as block space fees, node relay policies, miner strategies, pruning, and Layer 2 solutions can address these issues without modifying consensus rules. He emphasized that even if the rules are only temporarily in effect, the governance precedent established could persist long-term, making "the proposed governance framework more dangerous than the problem itself."

Bitcoin surges past $66,000, notching a 3.17% gain in 24 hours.

According to HTX market data, Bitcoin has broken through $66,000, with a 24-hour gain of 3.17%.

A Bitcoin OG whale that held its position for 12 years completed full liquidation today, netting over $400 million in profits.

According to Lookonchain monitoring, a Bitcoin OG whale address sold its final 1,000 BTC two hours ago, valued at $65.56 million. The address purchased 5,000 BTC at $332 per coin 12 years ago, with a total cost of $1.66 million. It began liquidating its Bitcoin holdings on November 26, 2024, and ultimately offloaded all 5,000 BTC at an average price of approximately $87,151, totaling $435.75 million, delivering a 262-fold return on investment.

Bitcoin miners' holding influence has declined for four consecutive years, with their over-the-counter (OTC) balance falling to 139,700 coins.

CryptoQuant analyst Axel Adler Jr. has released data showing that since November 2021, the Bitcoin balance of over-the-counter (OTC) addresses linked to Bitcoin miners has dropped from 500,000 BTC to 139,700 BTC, a cumulative decline of nearly 72%. This trend has persisted for over four years, indicating that the group’s Bitcoin reserves are steadily contracting.

An ancient crypto whale transferred 1,000 Bitcoin to Binance, worth approximately $65.56 million.

According to OnchainLens monitoring, an ancient crypto whale that has been dormant for four months transferred 1,000 BTC to the Binance exchange. Valued at approximately $65.56 million at current prices, the move appears to be in preparation for a sale. The whale began accumulating Bitcoin in November 2013 and has been steadily reducing its holdings over the past year.

Yesterday, Bitcoin spot ETFs saw a net inflow of $226.8 million; Ethereum spot ETFs recorded a net inflow of $38 million.

According to data from Farside Investors, U.S. spot Bitcoin ETFs posted a net inflow of $226.8 million yesterday. Among them, BlackRock’s IBIT saw a net inflow of $116.5 million, ARKB recorded $72.7 million, Fidelity’s FBTC pulled in $24.1 million, while Grayscale’s GBTC registered a net outflow of $45.4 million. For spot Ethereum ETFs, net inflows reached $38 million yesterday. Specifically, BlackRock’s ETHA brought in $34.3 million, FETH saw a $2.8 million inflow, TETH posted a $900,000 inflow, with all other products reporting zero net inflows.

Analysis: Bitcoin's MVRV percentile drops to 5%, a level that historically typically marks the long-term bottom zone.

CryptoQuant analyst Darkfost wrote in a post that after Bitcoin (BTC) fell below $60,000 in February and entered the capitulation zone, its MVRV percentile dropped below 10%, hitting the historically defined undervalued territory. Since June, the metric has shown a similar trend again. Unlike the traditional MVRV indicator, the MVRV percentile measures the current MVRV’s position relative to historical cycles, and by incorporating a historical probability dimension, it better reflects the current market environment. Currently, BTC’s MVRV percentile stands at around 5%, meaning Bitcoin has spent roughly 95% of its historical trading time at higher MVRV levels. This indicates BTC is significantly undervalued relative to its historical evolution, and such phases have historically coincided with long-term bottom regions.

A crypto whale that has held its Bitcoin position for six years has transferred Bitcoin worth approximately $130.5 million.

According to Onchainlens monitoring, a Bitcoin whale that has been hoarding BTC for six years transferred 2,000 Bitcoin (BTC) valued at approximately $130.5 million. Of the total, 800 BTC (worth around $52.2 million) was moved to Cumberland for over-the-counter (OTC) trading, while 1,200 BTC (valued at roughly $78.3 million) was transferred to a new wallet address.