Citigroup raises Western Digital's target price from $685 to $800

Prediction market platform Kalshi has officially launched its professional trading terminal Kalshi Pro (beta) to the public, targeting high-frequency and professional users who trade multiple markets simultaneously and engage in real-time event-based trading. Kalshi Pro supports professional features including real-time public trade streams, in-depth order book viewing, multi-leg contract analysis, and order management, and adds terminal-level charts and position risk management tools specifically for perpetual futures. Andy Chang, Kalshi’s product lead, noted that active traders are already trading prediction markets and perpetual futures the same way Wall Street traders trade stocks and bonds, with Kalshi Pro designed to deliver an institutional-grade trading terminal for professional traders.

According to official announcements, OKX Onchain Outcomes has officially integrated the XTruth oracle. It will leverage XTruth’s optimistic oracle architecture and open dispute arbitration network to explore automated on-chain settlement scenarios for predictions of real-world events including sports matches, crypto, macroeconomics, and culture. As the underlying oracle infrastructure for OKX Onchain Outcomes, XTruth will provide on-chain verifiable result adjudication for prediction settlements, further enhancing X Layer’s native DeFi infrastructure. It is understood that XTruth is an optimistic oracle protocol deployed on the X Layer mainnet, originating from X Layer’s ecosystem initiative Super Nova. It focuses on event result adjudication rather than real-time price feeds, and can be used in scenarios such as on-chain predictions, insurance claims, KPI option settlements, and cross-chain deposit confirmations.

US storage sector stocks were broadly lower in pre-market trading, with Seagate Technology (STX) down 3.37%, Western Digital (WDC) down 4.78%, SanDisk (SNDK) down 4.57%, and Micron Technology (MU) down 4.09%.

Japanese financial group SBI Holdings and the Solana Foundation have announced a strategic partnership to build a Japan-centric on-chain financial market. As part of the collaboration, the Solana Foundation will take an equity stake in SBI R3 Japan, which will be renamed SBI Solana Global. According to the announcement, SBI Solana Global will support the issuance and circulation of stablecoins including the Japanese yen stablecoin JPYSC on the Solana blockchain, and advance the tokenized issuance and distribution of real-world assets (RWA) such as corporate bonds, commercial paper, funds, and real estate. It will also develop cross-border settlement infrastructure, on-chain financial services for institutional investors, and payment infrastructure for AI agents. Additionally, SBI announced that it will launch applications for JPYSC deposit products via SBI VC Trade on July 16, offering a 3% annualized yield. Recently, SBI has successively invested in Gauntlet and EDX Markets, and completed the acquisition of Japanese crypto exchange Bitbank, continuing to expand its on-chain financial footprint.

Reciprocal airstrikes between the U.S. and Iran over the weekend stoked market risk aversion, pushing Bitcoin down more than 1% since 00:00 UTC on July 13, with the cryptocurrency briefly dipping to near $63,000. Brent crude futures, meanwhile, climbed over 3% to nearly $79 per barrel. Markets are worried that shipping disruptions in the Strait of Hormuz will lift energy prices and inflation, in turn limiting the Federal Reserve’s scope for interest rate cuts and weighing on risk assets including cryptocurrencies. Kula Digital Assets Head Taran Dhillon noted that this week the crypto market will engage in a "tug-of-war" between macroeconomic data and Middle East geopolitical developments. Upcoming U.S. CPI and PPI figures will shape market expectations for the Fed’s interest rate trajectory. That said, spot Bitcoin ETFs and Ethereum ETFs have ended eight straight weeks of net outflows, signaling a rebound in institutional demand. Furthermore, the ongoing progress of the CLARITY Act is expected to further improve digital asset regulatory outlooks, offering support to the market.

Although Bitcoin recently pulled back to around $62,000 amid escalating U.S.-Iran tensions, some market analysts believe this bear market could end between September and October this year, with the bull market expected to start earlier than the market’s general consensus. Trader Ryker noted that while the market generally expects the next bull run to begin in 2027, market makers typically position themselves in advance, so he predicts Bitcoin will start rallying in September or October this year. Trader Jelle pointed out that Bitcoin’s weekly chart has formed a "death cross"—a signal that historically occurs at the end of bear markets, suggesting the market may have entered a new accumulation phase. However, in the short term, Bitcoin still faces pressure. Analysts say $64,000 remains a key resistance level; if it fails to break through, a further pullback to around $57,800 is possible. Additionally, this week the market will get U.S. June CPI and PPI data, as well as testimony from Federal Reserve Chair Kevin Warsh before Congress. Meanwhile, escalating U.S.-Iran tensions and instability in the Strait of Hormuz have boosted oil prices and inflation expectations, which may continue to roil risk assets including crypto assets. On-chain data from CryptoQuant shows that mid-sized Bitcoin addresses holding 100 to 1,000 BTC net sold approximately 67,000 BTC on July 13, marking the largest such distribution since February this year. However, the firm noted that similar distribution activity historically occurs just before price rebounds. While the current signal is not enough to confirm a market bottom, it is approaching the historical range where a major shift in mid-sized investor behavior typically takes place.