Bitcoin (BTC) — Onchain News & Whale Tracking

Michael Saylor has once again released Bitcoin Tracker information.

Michael Saylor, founder and executive chairman of Bitcoin treasury firm MicroStrategy, has once again shared updates on its Bitcoin Tracker, with the caption: "Orange dots tell only part of the story." Following the company’s past pattern, MicroStrategy typically discloses news of additional Bitcoin holdings the day after such announcements.

Bitcoin mining difficulty drops by 5% to 127.17 T.

According to data from Cloverpool, Bitcoin’s mining difficulty adjusted at block height 957,600 (at 04:09:11 Beijing Time today), dropping by 5% to 127.17 T. The current 7-day average network hash rate stands at 866.28 EH/s.

Analysts: Selling pressure from Bitcoin short-term holders has eased, while the return of institutional funds remains to be observed.

CryptoQuant analyst Axel Adler noted in a post that Bitcoin’s short-term holder (STH) real stress model shows buying and selling pressure among current STHs is cooling slightly, with buying power still leading. Meanwhile, after 8 consecutive weeks of outflows, the ETF market recently recorded a net inflow of roughly $197.4 million—though this amount is insufficient to confirm a reversal in institutional demand trends, signaling market capital momentum remains weak. Next week will bring multiple key macroeconomic data releases and events, so whether institutional funds can return remains to be observed.

Michael Saylor: Bitcoin relies on capital, consensus, and cybersecurity to maintain the dynamic balance of its system.

MicroStrategy founder Michael Saylor published an article stating that Bitcoin is a spontaneously evolved network system, where the influence of wallets depends on the number of satoshis they hold, nodes’ influence is determined by commercial activities, miners’ influence by computing power, and capital, consensus, and network security together sustain a dynamic balance.

The deadline for Bitcoin data limit proposal BIP-110 is approaching, with miner support for the proposal remaining near zero.

Bitcoin’s BIP-110 proposal is approaching its early August deadline, yet miner support for the measure remains below 1%, signaling significant resistance to the initiative. Officially titled “Temporary Soft Fork for Reducing Data”, BIP-110’s core controversy centers on restricting non-financial data on the Bitcoin blockchain. The proposal aims to cap OP_RETURN data capacity within a year, ban most arbitrary data exceeding 256 bytes from being written to the chain, and limit certain script formats primarily used for data storage. Supporters argue the plan would refocus the Bitcoin network on its payment function and reduce node operational burdens; opponents counter that it would escalate policy disputes over block space usage into consensus rule changes, effectively determining which transactions qualify as “acceptable”. Strategy founder Michael Saylor and Blockstream co-founder Adam Back have both publicly opposed BIP-110. Saylor remarked, “There are 110 things more dangerous than junk data”, adding that the proposal would “turn the junk data debate into a consensus change, invalidating some currently valid transactions that pay fees”. Back stated that if supporters cannot accept the status quo, they may choose to fork, but “Bitcoin will not join”. Data shows BIP-110 uses a user-activated soft fork mechanism with a 55% miner signaling threshold, though miner signaling rates have never topped roughly 1% to date, with the current cycle sitting at 0 and no major mining pools backing the measure. The share of nodes running BIP-110 software also remains in the single digits, primarily from Bitcoin Knots users. The proposal’s current signaling cycle will end around block height 959,615, with a voluntary lock-in period expected in early August and activation targeted for around September. If broad support is still absent by then, the initiative could result in a minority of nodes forming a separate chain.

Analyst: Bitcoin could rise to $68,000 if it breaks through the key resistance level of $64,700.

Crypto analyst Ali Charts noted in a post that Bitcoin is currently at a critical juncture for its next major move, with the $64,700 level serving as the key threshold to watch. If Bitcoin fails to break above the channel’s top at $64,700, it could trigger a deeper pullback. Should sellers hold that level, Bitcoin may dip to the channel’s mid-support at $63,000 and could further test the channel’s bottom around $61,500. However, Ali Charts added that a Bitcoin hourly close above $64,700 would invalidate the bearish outlook. After breaking through this resistance, Bitcoin could next target $66,400, with its second target set at $68,000.

Empery Digital sells half its Bitcoin holdings to invest in AI data centers, with its stock price surging over 4% at one point.

Bitcoin reserve firm Empery Digital (EMPD) disclosed that it has sold 1,400 BTC over the past two months at an average price of $62,200, generating total proceeds of roughly $87.1 million to invest in AI data center projects and repay debts. A portion of the funds was used to acquire a 25% stake in an AI data center project, while another $10 million went toward settling outstanding debts. Following the sale, Empery Digital’s Bitcoin holdings fell by 48%, leaving it with 1,514 BTC valued at approximately $97 million at current prices. In response to the news, EMPD’s stock rose as much as 4.2% in early trading before closing with a 1.58% gain. The market notes that investors hold a positive attitude toward the company’s move to convert part of its Bitcoin reserves into AI infrastructure investments.

US Bitcoin and Ethereum spot ETFs both ended their 8-week consecutive outflows, posting a combined net inflow of $281.8 million this week.

U.S. spot Bitcoin and Ethereum ETFs recorded a combined net inflow of $281.8 million this week, ending an 8-week streak of outflows that began in early May. Specifically, U.S. spot Bitcoin ETFs saw a net inflow of roughly $197.4 million last week, putting an end to their own 8-week outflow cycle. Prior to this, Bitcoin ETFs had logged a cumulative outflow of about $8.26 billion over those 8 weeks—the longest consecutive outflow period since they started trading in January 2024. Ethereum spot ETFs, meanwhile, posted a net inflow of approximately $84.4 million last week, also wrapping up 8 straight weeks of outflows. Before that, Ethereum ETFs had seen roughly $1.2 billion in outflows over 8 weeks, matching the all-time longest outflow record set between February and April 2025. The current rebound remains modest relative to the earlier outflows: Bitcoin ETFs have recouped only around 2.4% of the funds lost in the prior 8-week period, while Ethereum ETFs have recovered roughly 7%. As of early 2026, Bitcoin ETFs have a year-to-date net outflow of about $5.34 billion, and Ethereum ETFs have a year-to-date net outflow of approximately $1.35 billion.

Analyst: Bitcoin may be entering the final stage of a bear market, projected to rise to $250,000 over the next two to three years.

Real Vision’s chief crypto analyst Jamie Coutts has stated that Bitcoin may be entering the late stages of its current bear market. While the bear market is not yet over, downward momentum has begun to weaken. The current BTC price is roughly 50% lower than its all-time high of $126,100 set in October 2025. Coutts described the current trend as a “typical bear market,” pointing out that Bitcoin’s volatility has fallen by around 50% compared to the previous cycle, suggesting this downturn may not be as severe as prior bear markets. However, he cautioned that all current trend indicators remain clearly bearish, and markets do not mechanically replicate historical cycles. He noted that longer-term momentum indicators are starting to show bullish divergence, signaling that negative momentum is decelerating—but this does not mean Bitcoin has technically exited the bear market. Beyond tightening global liquidity, deteriorating on-chain demand was a key factor driving Bitcoin’s earlier decline. On long-term price projections, Coutts is cautious about Bitcoin reaching $1 million by 2030; instead, he forecasts BTC will rise to $200,000–$250,000 over the next two to three years. He also warned that the Bitcoin community needs to address the potential threat of quantum computing more definitively by 2027, as major protocol upgrades could take approximately five years to complete.

The probability that Bitcoin will rise to $70,000 this year has climbed to 79%.

Prediction market platform Polymarket now puts the probability of Bitcoin rising to $70,000 this year at 79%, up from 54% as of June 26. Additionally, the odds of Bitcoin hitting $80,000 stand at 32%, while the probability of it reaching $90,000 is 19%.

Galaxy Digital's Head of Research: The Bitcoin Policy Institute has filed an application to intervene in the abandoned Bitcoin case, and intends to urge the court to dismiss all the lawsuits.

Galaxy Research Head Alex Thorn posted on social media that the Bitcoin Policy Institute (BPI) has formally filed a motion with the court to intervene in the high-profile "Noah Doe" case and participate in the litigation as a defendant. BPI stated that its application is submitted in accordance with relevant provisions of New York State's Civil Practice Law and Rules, and no similar application on this matter has been filed with any court before. According to the submitted documents, BPI comprehensively denies all main allegations in the plaintiff’s complaint in its proposed answer, only acknowledging that the plaintiff is seeking a declaratory judgment through this case. For other allegations, BPI either denies them or states it lacks sufficient information to form a judgment. BPI also introduced that the organization was founded in 2021, is a non-partisan, non-profit organization headquartered in Washington D.C., U.S., focusing on researching the policy and social impacts of Bitcoin and emerging currency networks, and conducts independent research free from influence from industry players such as cryptocurrency companies or trading platforms. The case has drawn significant market attention as it involves an anonymous individual attempting to obtain ownership of a large amount of Bitcoin allegedly belonging to Satoshi Nakamoto through legal proceedings. With BPI’s application to intervene as a defendant, the organization stated it will oppose the plaintiff’s claims and push the court to dismiss the entire lawsuit.

Data: Bitcoin treasury firms have seen their combined market capitalization drop by over $100 billion, while their total Bitcoin holdings have instead climbed to 1.14 million coins.

Analyst Darkfost noted that since October 2025, the total market value of global Bitcoin treasury companies’ holdings has shrunk from $396 billion to $272 billion, erasing over $100 billion in value. Over the same period, the total Bitcoin held by these firms rose from 953,000 to 1.14 million coins — the market value drop was driven entirely by falling Bitcoin prices, not sell-offs. However, it is worth noting that since May this year, when Bitcoin entered a significantly undervalued range, the pace of these firms’ Bitcoin purchases has slowed sharply and nearly stalled. The companies’ most concentrated buying period ran from November 2024 to October 2025, during which their holdings tripled in less than a year at purchase prices roughly between $75,000 and $125,000 — a zone right within Bitcoin’s all-time high territory. The pressing question now is: With these firms having built up large positions at the peak, will they sell off at low levels? Strategy recently became the first to initiate Bitcoin sales; whether other treasury companies will follow suit and become a new source of selling pressure for the market remains to be seen. Given their current total holdings of 1.14 million Bitcoin, if more firms are forced to cut positions amid the slumping market to ease financial strains, this could pose additional downside risks to Bitcoin’s price.

A crypto whale has unstaked 440.822 Bitcoin from Core DAO, valued at approximately $28.27 million.

According to monitoring by Onchain Lens, a crypto whale unlocked 440.822 BTC from Core DAO, valued at approximately $28.27 million, and transferred the funds to a new wallet within one hour.

Yesterday, Bitcoin spot ETFs recorded a net inflow of $90.4 million, while Ethereum spot ETFs saw a net inflow of $18.4 million.

According to data from FarsideUK, Bitcoin spot ETFs posted a total net inflow of $90.4 million on July 10, with BlackRock’s IBIT seeing a net inflow of $86.8 million and VanEck’s HODL bringing in $3.6 million. Ethereum spot ETFs recorded a total net inflow of $18.4 million, of which BlackRock’s ETHA had a net inflow of $16.2 million and Fidelity’s FETH had a net inflow of $2.2 million.

Unusual activity on Tether’s Bitcoin reserve address: 4 BTC transferred out, Q2 accumulation reportedly suspended.

According to monitoring by EmberCN, Tether allocates 15% of its quarterly profits to its Bitcoin reserve address. Approximately 5 hours ago, this address made a test transfer of 4 BTC to Binance, valued at roughly $250,000. EmberCN stated that this same address previously transferred 204.3 BTC to Bitfinex a month ago, worth approximately $14.36 million at the time, when Bitcoin’s price stood at around $70,000. It remains unclear whether these assets have been sold. Additionally, Tether appears to have not yet completed the on-chain withdrawal of new Bitcoin for Q2 2026. Per its usual practice, Tether typically transfers BTC purchased in the quarter to its reserve address on the last day of each quarter. However, more than 10 days have elapsed since the end of Q2, and no new Bitcoin deposits to this reserve address have been observed on-chain, sparking market concerns over whether it has adjusted its Bitcoin accumulation pace.

Empery Digital has sold nearly half of its Bitcoin reserves, cashing out $87.1 million to invest in AI data centers.

Nasdaq-listed Bitcoin treasury firm Empery Digital has sold a total of 1,400 BTC since May 7, at an average price of roughly $62,200, netting approximately $87.1 million in proceeds, cutting its Bitcoin reserve by nearly half. According to announcements, $10 million of the proceeds was used to repay debt on July 7, while the remaining funds will be allocated to previously announced real estate acquisitions for an AI data center, legal fees related to shareholder litigation, and daily operational expenses. The company had earlier announced it would invest $65 million to acquire a 25% stake in an entity developing an AI data center project in the U.S. Midwest. As of July 10, Empery Digital still holds 1,514 BTC, worth around $96.5 million at current prices, plus approximately $73.9 million in cash, with an outstanding debt balance of $45 million. Reports note that an increasing number of public companies holding Bitcoin reserves are starting to use BTC as a liquidity source rather than solely as a long-term holding asset, selling part of their reserves to meet traditional financing needs such as debt repayment, capital expenditures, and corporate operations.

Empery Digital reduces its Bitcoin reserves by 1,400 BTC.

Empery Digital has reduced its Bitcoin reserves, selling 1,400 BTC for $87.1 million to support its AI data center project, repay debts, and cover legal fees. The company currently holds 1,514 BTC, valued at nearly $100 million.

Bitcoin mining company Cango will implement a 1-for-10 share consolidation.

Cango Inc. (NYSE: CANG), a Bitcoin mining company listed on the New York Stock Exchange, announced that its board of directors has approved a 1-for-10 share consolidation in accordance with authorization from its special general meeting of shareholders held on June 24. All issued and outstanding Class A and Class B common shares will be consolidated at a ratio of 10-for-1, with each share class remaining unchanged. The consolidation will take effect at 5:00 PM ET on July 20, 2026. Class A common shares are expected to begin trading on a post-consolidation basis starting from the opening of the New York Stock Exchange on July 21, with the stock code remaining “CANG” and the CUSIP number updated to G1820C 110. Following the consolidation, the total authorized share capital will remain at $100,000, consisting of 100 million common shares with a par value of $0.001 per share. No fractional shares will be issued; fractional portions will be canceled and revert to the company’s authorized unissued shares, with no consideration provided to holders.

QCP: Japan's bond market stabilization drives Bitcoin rebound to near $64,000

QCP Capital has released a new report, noting that the decline in Japanese government bond yields has eased market concerns over the unwinding of yen carry trades and capital repatriation, driving Bitcoin to rebound to around $64,000. While Middle East geopolitical risks, a stronger U.S. dollar, and the Federal Reserve’s hawkish stance continue to weigh on risk assets, Bitcoin has demonstrated some resilience in the $60,000 range. The report adds that future trends will hinge primarily on the global liquidity environment, U.S. inflation data, and the outcome of the Bank of Japan’s month-end meeting.

Metaplanet is exploring the introduction of Bitcoin-backed digital credit to Japan.

According to CoinDesk, Tokyo-listed firm Metaplanet is forming a joint research team with Japanese yen stablecoin issuer JPYC and regulated security token platform Progmat to explore Bitcoin-backed digital credit products. The initiative will tokenize BTC collateral for use in debt instruments that accrue interest daily and can be traded and settled 24/7. Siiibo Securities, which Metaplanet acquired this year and plans to rebrand as Metaplanet Securities, will also participate in the research, handling product design and sales. Currently, Metaplanet holds around 43,000 BTC, which it intends to use as credit enhancement, a store of value, and compliant collateral assets to address the high financing costs and cumbersome processes faced by medium-sized and growing Japanese enterprises in the traditional bond market.

1,050 Bitcoin transferred from Binance hot wallet address to Ceffu, worth approximately $67.1 million.

According to Onchainlens monitoring, 1,050 Bitcoin (BTC) were transferred from Binance’s hot wallet address to Binance’s institutional custody platform Ceffu, valued at approximately $67.1 million. Over the past 30 days, Binance’s hot wallet addresses have transferred a total of 3,000 BTC to Ceffu, worth $192 million.

Bitcoin briefly breaks through $64,000

According to HTX market data, Bitcoin briefly broke through the $64,000 threshold and is currently trading at $63,953, with a 24-hour gain of 3.58%.

U.S. state of New Hampshire rejects the $100 million state government Bitcoin bond project.

The New Hampshire Executive Council voted 3-2 to reject a $100 million state-backed Bitcoin bond project, terminating what was deemed the first state-endorsed Bitcoin-backed bond initiative. Issued by the New Hampshire Business Finance Authority, the bond is supported by Bitcoin miner and data center firm CleanSpark, with Moody’s assigning it a Ba2 rating several months ago. State House Majority Leader Keith Ammon labeled the decision “extremely short-sighted,” pointing out that council members are in an election year and the result could be reversed with a single vote. “We will not give up,” he stated. New Hampshire became the first U.S. state to establish a crypto reserve last year, preceding unfinished federal-level efforts.

JPMorgan: The biggest risk for Bitcoin is not Strategy’s sell-off, but blockchain adoption that bypasses public chains and tokens.

JPMorgan Chase’s analyst team noted that the market views Strategy’s Bitcoin sale plan as a key risk for the crypto sector, but it is not a major structural threat to Bitcoin. The more fundamental risk lies in tokenization, payments, and settlements increasingly taking place on permissioned infrastructure that does not rely on public blockchains. If this trend continues, the entire crypto ecosystem could face a "structural downgrade"—marked by slower transaction activity, reduced liquidity, and weaker capital inflows—ultimately weighing on Bitcoin. The analysts stated bluntly: "In our view, a more significant risk stems from the way blockchain is adopted in traditional finance, which continues to bypass public, permissionless networks." The analysts explained that institutional adoption so far has clearly favored permissioned chains, as they offer advantages in privacy, KYC/AML controls, governance, throughput, legal accountability, and regulatory certainty, posing a competitive threat to public blockchains like Ethereum. If tokenized deposits are widely adopted—especially in non-transferable forms favored by regulators—it could reduce demand for stablecoins in institutional payments and settlements; SWIFT’s blockchain initiative and central bank digital currency (CBDC) projects such as the digital euro and digital renminbi further strengthen regulated alternatives. In the roughly $500 billion tokenized real-world assets market, while Ethereum currently holds a certain share, this likely reflects early-stage experimentation rather than the market’s long-term structure. As institutional adoption grows, issuance, custody, settlement, and lifecycle management will likely be conducted more on private or permissioned infrastructure that meets requirements for identity, confidentiality, and operational resilience, with public blockchains used only for distribution and limited secondary trading.

Strategy Launches Bitcoin-Native Credit Model to Assess Its Credit Risk

Strategy has launched a Bitcoin-native credit model to assess credit risk, credit spreads, and other metrics for debt instruments (such as convertible bonds) and preferred shares (including STRC) issued by Strategy Treasury. The model uses custom metrics—BTC Rating (Bitcoin coverage multiple), BTC Risk (default probability), and BTC Credit (spread in basis points)—to analyze the debt and preferred shares, backed by the firm’s $52 billion Bitcoin reserves. All metrics are collateralized/risk-derived from Strategy’s held Bitcoin reserves, with Bitcoin price, volatility, and ARR as core variables. Analysts note that this initiative shifts Bitcoin from a store of value to a capital efficiency tool, driving institutions to treat BTC as a financeable asset and accelerating the development of the digital credit market.

Glassnode: In the late stage of Bitcoin's bottoming process, the scale of realized losses has reached its highest point since December 2022.

Glassnode says Bitcoin is in the late stages of bottom formation, but capitulation selling by long-term holders remains elevated, with the recent peak in realized losses approaching $280 million daily — the highest level since December 2022. Glassnode notes that this metric needs to shrink significantly for the market to credibly shift back into a bullish state. Last week, Bitcoin rebounded from $58,300 to $64,400 before pulling back to $62,700, and still trades below the short-term holders' cost base of roughly $72,200 and the True Market Mean of around $76,600. Net outflows from spot Bitcoin ETFs have narrowed but remain negative.

Bitcoin breaks through $63,000

According to HTX market data, Bitcoin has broken through the $63,000 mark, with a 0.74% rise in the past 24 hours.

Yesterday, U.S. spot Bitcoin ETFs recorded a net outflow of $84.9 million.

According to Farside’s monitoring, U.S. spot Bitcoin ETFs recorded total net outflows of $84.9 million yesterday, with BlackRock’s IBIT alone seeing total net outflows of $59.1 million.

Glassnode: Bitcoin has not yet completed its bottoming, with derivatives market sentiment leaning toward cautious bullishness.

Glassnode’s report states that Bitcoin has stayed below key investor holding costs for the past five months and remains in a deep value zone. Selling activity from long-term holders has peaked, while overall Bitcoin spot ETF flows continue to register net outflows. Derivatives market sentiment leans toward cautious bullishness, but options pricing still reflects investors’ concerns about downside risks. Overall, Bitcoin is in the process of bottoming but has not yet completed its bottom formation.

Tensions between the U.S. and Iran have flared up again, Bitcoin slipped slightly, and the three major U.S. stock indexes were mixed.

U.S. Central Command said early this morning that, at the direction of the U.S. President, the U.S. military has launched further strikes on Iranian targets, aiming to weaken Iran’s ability to threaten freedom of navigation in the Strait of Hormuz. The U.S. stated that Iran has recently carried out "unjustified attacks" on commercial vessels and civilian crew sailing in the international waterway, and the U.S. will hold those responsible accountable. Iran’s Armed Forces Missile Corps and Drone Corps announced they will launch large-scale strikes on U.S. military bases in the Middle East "within minutes". Later, CNN reported that U.S. President Donald Trump said, "They (Iran) just called, they want to make a deal." According to Bitget market data, Bitcoin dipped slightly to $62,214, with a 2.03% drop in the past 24 hours. According to BIT (bit.com) market data, U.S. stocks closed on Wednesday: the Dow Jones Industrial Average fell 1.09%, the S&P 500 declined 0.28%, and the Nasdaq rose 0.2%. Micron Technology (MU.O) gained 1%, NVIDIA (NVDA.O) rose 3.6%, and SanDisk (SNDK.O) increased 6.7%.

Michael Saylor: Concerns over Bitcoin block space shortage are gradually easing, while global transfers still maintain low fees.

MicroStrategy founder Michael Saylor published an article noting that after a decade of concerns over insufficient block space and controversies surrounding non-monetary use cases, Bitcoin still has no so-called "spam transaction problem." Currently, Bitcoin network fees stand at approximately 1 sat/vB, enabling anyone to quickly transfer any amount of Bitcoin globally for roughly $0.3. Free market mechanisms have been consistently resolving the challenges facing Bitcoin's block space.

Bitcoin Reserve Company BSTR Seeks to Amend Its SPAC Merger Agreement with Cantor

According to Bloomberg, a special purpose acquisition company (SPAC) backed by Cantor Fitzgerald and Bitcoin reserve firm BSTR, led by Adam Back, announced they have scrapped the original terms of their proposed merger and will renegotiate a revised agreement. Amid a tightening crypto market environment and growing headwinds for Bitcoin reserve-focused firms, the two parties have opted to adjust the transaction structure. Cantor Equity Partners I Inc. and BSTR Holdings said Wednesday they will no longer advance the deal under the merger agreement signed last year, instead aiming to draft revised terms that better reflect current market conditions. Neither company disclosed specific financial details of the new transaction, nor did they provide a timeline for when a new agreement could be finalized.

A SpaceX-tagged address has moved a small amount of Bitcoin (BTC) for the first time in six months, and the transfer is suspected to be a test transaction.

According to Arkham’s monitoring, an address labeled SpaceX has transferred Bitcoin for the first time in six months. Data shows that SpaceX address 15atF initiated a BTC test transaction to SpaceX address bc1q9, worth approximately $88, which is suspected to be a test transfer.

Bitcoin fell below $62,000, with a 2.1% drop in the past 24 hours.

According to HTX market data, Bitcoin has fallen below $62,000, with a 2.1% decline in the past 24 hours.

Michael Saylor: If Bitcoin’s long-term gains exceed 3.3%, BTC capital gains can indefinitely fund STRC dividends.

Michael Saylor said in a post today that if Bitcoin’s long-term growth exceeds 3.3%, capital gains from Bitcoin (BTC) can indefinitely fund STRC’s dividends. Even if BTC delivers 0% annual growth, Strategy still has sufficient capital to cover 31 years of dividend payments.

A crypto whale opened a 40x short position worth $31 million in Bitcoin, and is now sitting on an unrealized profit of $112,400.

According to Onchain Lens monitoring, whale address 0x77ee recently opened a 40x leveraged short position on Hyperliquid for 493 BTC (valued at approximately $31.08 million), with an entry price of $63,240.9 and a liquidation price of $73,962.2. The position currently has an unrealized profit of around $112,400, delivering a return on equity (ROE) of 14.47%. Data shows the address holds a total of 15 positions, with a total position size of roughly $79.79 million, 92% of which are short positions. That said, the address’s cumulative historical trading losses still amount to $5.66 million.

Polymarket launches instant Bitcoin Lightning Network deposits, integrates Spark Protocol.

Prediction market platform Polymarket has announced support for instant, self-custodial deposits via the Bitcoin Lightning Network, with the new feature backed by the Spark Protocol. Compared to prior on-chain deposit methods that required waiting for 3 to 6 block confirmations and took 10 to 60 minutes, the new solution delivers near-instant settlement while lowering deposit barriers and transaction costs. According to details, Spark can conduct checks for double-spend risks, transaction fees, and Replace-by-Fee (RBF) at the time of transaction broadcast, enabling "zero-confirmation" posting. It also supports on-chain, Lightning Network, and stablecoin payment rails, removing the need for the platform to operate its own Lightning Network nodes. Polymarket noted that this step will further boost Bitcoin users' capital efficiency and strengthen its competitiveness against rival Kalshi.

Strike launches volatility-resistant Bitcoin-collateralized loans, eliminating the margin call mechanism.

Strike has launched a new "Volatility-Proof" Bitcoin mortgage product that eliminates margin calls and forced liquidations triggered by Bitcoin price declines. Jack Mallers noted that regardless of how much Bitcoin’s price drops, as long as borrowers make timely repayments, their pledged Bitcoin will not be liquidated due to price fluctuations. The new product features a maximum loan-to-value (LTV) ratio of 45%, a 6-month term, and an annual percentage rate (APR) ranging from roughly 10.7% to 14.2% — higher than Strike’s standard loan offerings. Should a borrower default, they must repay within 10 days or coordinate with the platform; otherwise, Strike retains the right to sell a portion of the Bitcoin collateral to cover the outstanding balance. The company added that the product is now available in most U.S. states, applicable for new loans, refinancing, and debt consolidation.

Bitcoin emerged as the 'most resilient' asset tonight, while US chip stocks suffered a 'stock market crash' and crypto stocks declined broadly in line with the broader US stock market.

According to BIT (bit.com) market data, U.S. stocks opened lower and trended downward during Tuesday’s trading session. The Nasdaq 100 Index fell over 2%, the Philadelphia Semiconductor Index dropped more than 6%. SPCX declined 5.7%, MRVL fell 10.25%, Western Digital dropped 11%, SanDisk slid 13.9%, Micron fell 8.8%, and Oracle decreased 4%. Bitcoin only dropped nearly 1% after U.S. stock markets opened, a decline on par with gold, but U.S.-listed crypto stocks have fallen in line with the broader market, with SBET down 5.2%, GEMI down 6.12%, CRCL down 5.35%, MSTR down 3.3%, and COIN down 4%.

Tether has invested $20 million in Mercado Bitcoin to support the construction of on-chain financial infrastructure in Latin America.

Tether announced it will invest $20 million in the strategic growth funding round of Latin American on-chain financial services platform Mercado Bitcoin, to support its expansion in tokenization, payments, credit, capital markets, and regulated digital financial services. Founded in 2013, Mercado Bitcoin originally launched as a digital asset trading platform and has since evolved into a comprehensive on-chain financial platform covering trading infrastructure, tokenized investment products, credit and lending, stablecoin payments, banking infrastructure, and cross-border financial services. The company currently serves 4.5 million users, has issued over R$2 billion in tokenized assets, and holds more than 10 licenses in Brazil and Europe.

Peter Brandt Considers Selling Part of His Bitcoin to Buy Gold

Renowned trader and chart analyst Peter Brandt, who accurately predicted the 2018 Bitcoin crash, has stated in a post that he is considering selling a portion of his Bitcoin holdings and reallocating the proceeds to gold. Based on current market trends, gold could see a substantial rally relative to Bitcoin.

Analysis: Weak demand persists in the US market, Bitcoin's July rally may struggle to sustain

Multiple indicators show Bitcoin’s July rally remains fragile. One of the most closely watched metrics, the Coinbase Premium Index, has been negative for 50 consecutive days. The index measures the price gap of BTC between U.S. exchange Coinbase and Binance. BTC’s price on Coinbase has consistently lagged that on Binance, indicating relatively weak demand in the U.S. market. Meanwhile, U.S. spot Bitcoin ETFs have posted net outflows for 8 straight weeks, while historically, Bitcoin bull markets are typically accompanied by a consistently positive Coinbase Premium Index. Japanese bond yields have continued to climb, with the 10-year Japanese Government Bond (JGB) yield hitting a 30-year high and pushing up borrowing costs in the U.S., U.K., and Germany. If U.S. Treasury yields keep rising, this could act as a headwind for BTC. Bitfinex analysts noted that structural institutional buying has not been confirmed until BlackRock’s IBIT resumes consistent net inflows. Singapore-based crypto trading firm QCP Capital said that if spot Bitcoin ETFs sustain the inflow trend seen since last Friday, the short-term outlook remains constructive. The firm added that if BTC firmly reclaims the $64,000 level this week, it will further boost market sentiment and ease concerns over publicly traded Bitcoin holder MicroStrategy (MSTR).

Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.

Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.

Polymarket Sued Over Dispute Concerning Bitcoin Prediction Market Ruling Linked to Strategy’s Sale

Two plaintiffs have filed a lawsuit against Polymarket, alleging breach of contract and fraudulent conduct in a prediction market tied to whether Strategy would sell its Bitcoin holdings by the end of May. According to the complaint filed in New York State Supreme Court on July 3, plaintiffs William Wood and Thomas Bush named Polymarket, its CEO Shayne Coplan, CMO Matthew Modabber, and other related entities and individuals as defendants. The complaint states the two held "Yes" positions in a binary prediction market with the question: whether Strategy would sell any Bitcoin holdings by May 31. Per Strategy’s Form 8-K filings with the U.S. Securities and Exchange Commission (SEC), the firm did sell 32 Bitcoin (BTC) between May 26 and 31. However, the plaintiffs say Polymarket ultimately ruled the market "No". They allege the platform added a clarification ahead of settlement, effectively shifting the judgment criteria from "whether the sale was completed by May 31" to "whether the sale was publicly confirmed by May 31". Due to this criteria change, even though Strategy sold Bitcoin within the deadline, the prediction market was ultimately ruled "No" on June 3 via a UMA vote — Polymarket’s mechanism for resolving disputed markets.

Coinbase Bitcoin Premium Index has been in negative premium for 50 consecutive days, extending its all-time longest streak.

According to Coinglass data, the Coinbase Bitcoin Premium Index has stayed in negative premium territory for 50 consecutive days since May 19, with the latest reading at -0.0742%, extending the longest consecutive negative premium record since the index’s launch. Prior to this, the index recorded 40 straight days in negative premium from January 16 to February 24 this year, surpassing the previous record of roughly 30 consecutive days set during the "1011 Crash". Historical data indicates that prolonged negative premium is typically accompanied by U.S. institutional capital outflows, or signals that the market faces certain short-term correction pressure.

USDT is returning to the Bitcoin network, as UTEXO prepares to natively issue Bitcoin-based USDT via the RGB protocol.

Tether is preparing to issue USDT natively on the Bitcoin network based on the RGB v0.11.1 protocol, with UTEXO responsible for commercial issuance and distribution. This marks USDT’s return to the Bitcoin mainchain years after its first launch on Bitcoin via the Omni protocol in 2014. Viktor Ihnatiuk, co-founder of UTEXO, stated that the company has secured Tether’s support to advance the launch of Bitcoin-native USDT. The RGB protocol adopts client-side validation and integrates with the Lightning Network, enabling USDT to achieve instant, low-cost, private transactions while inheriting Bitcoin’s UTXO security model. Users will be able to hold USDT directly via native Bitcoin addresses and send/receive it through RGB-enabled Lightning Network wallets, without relying on other public chains or intermediary service providers. Compared to current USDT’s primary circulation on account-model networks like TRON and Ethereum, RGB leverages the UTXO model to natively support one-time addresses and combines with the Lightning Network for off-chain payments, effectively enhancing transaction privacy. Additionally, UTEXO has deep integration with Tether to reduce intermediary fees and data collection, and users can also convert USDT across different public chains at low cost via its already launched cross-chain bridge.

Bernstein maintains its year-end Bitcoin price target of $150,000, noting the current cycle’s pullback is milder than historical cycles.

Despite Bitcoin’s price having pulled back roughly 54% from its near-$125,000 peak in October 2025, Bernstein has maintained its year-end target price of $150,000. The firm notes that this cycle’s pullback is significantly smaller than the 75% to 90% declines typical in the final stages of historical cycles, signaling a notable shift in market structure. Against the backdrop of current weak market sentiment, the clear target price set by the Wall Street firm can serve as a price anchor for the market, while the historical pullback framework helps traders assess risks. If this cycle aligns with historical trends, the market could still see further declines, though the firm’s outlook for a subsequent recovery remains noteworthy. Bernstein points out that the October 2025 near-$125,000 peak remains a key reference resistance level; calculated based on a historical 75% pullback, the corresponding price is roughly $31,000, viewed as a critical zone. Going forward, focus will center on whether Bitcoin spot ETF inflows and spot demand rebound, a key signal to determine if the market enters a recovery phase.

Analyst: Bitcoin’s apparent demand has been almost consistently negative this year, but has recently improved.

CryptoQuant analyst Darkfost stated in a post that Bitcoin’s Apparent Demand has stayed nearly in negative territory all year, reflecting persistent weak market demand — a key reason for Bitcoin’s ongoing price pressure. However, recent demand has seen some improvement, helping BTC consolidate within its current price range. On June 3, Bitcoin’s Apparent Demand hit an annual low of -275,000 BTC, and has since rebounded to around -75,000 BTC. While the improvement is notable, a full demand recovery will require the metric to stay consistently positive. He explained that the Apparent Demand metric is calculated as the difference between newly issued BTC supply and BTC supply that has not moved for over a year, used to measure whether long-term holders’ structural accumulation is enough to absorb the network’s new supply. So far, long-term demand has recovered somewhat but not enough to push the market into a new uptrend.

Asia-Pacific stock markets plunged sharply, putting pressure on Bitcoin, which briefly fell below $63,000.

According to HTX market data, Bitcoin has remained under pressure since the opening of Asia-Pacific stock markets this morning, falling below $63,000 and currently trading at $62,886.82, with a 0.95% decline in the past 24 hours. According to Bitget market data, Japan’s Nikkei 225 index has fallen 2.00% on the day. South Korea’s KOSPI index triggered circuit breakers twice, plummeting 8%.

Bitcoin ETFs recorded a net inflow of $265.7 million yesterday, marking the second consecutive day of net inflows exceeding $200 million.

According to monitoring by Farside Investors, U.S. spot Bitcoin ETFs saw a net inflow of $265.7 million yesterday, with IBIT alone attracting $209.4 million. Additionally, Ethereum ETFs posted a net inflow of $20.7 million, among which ETHA recorded a net inflow of $23.3 million. Analysts noted that the cooling of the U.S. stock market’s AI boom may have led some funds exiting the sector to partially replenish oversold crypto ETFs.