Bitcoin (BTC) — Onchain News & Whale Tracking

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.

South Korea’s KOSPI index has a volatility of over 60%, higher than Bitcoin’s, and leveraged ETFs further amplify the index’s price fluctuations.

According to Bloomberg, South Korea’s KOSPI index has posted a volatility of over 60% this year, nearly twice that of Japan’s Nikkei 225 index and even higher than Bitcoin’s. South Korean exchanges have triggered circuit breakers seven times so far this year through mid-July, compared to zero times in 2025 and just once in 2024. Samsung Electronics and SK Hynix together hold over 50% of the KOSPI index’s weighting, making index funds largely a concentrated bet on AI chip performance. When the KOSPI hit an all-time high at the end of June, over 650 of its 831 constituent stocks still fell, underscoring the index’s heavy reliance on a small group of large chip stocks. South Korea’s leveraged ETFs have also expanded rapidly. Goldman Sachs data shows assets of South Korean leveraged ETFs tracking indices and individual stocks have surged from $5 billion at the start of the year to over $40 billion. These products, along with Samsung Electronics and SK Hynix, account for over 70% of South Korea’s daily stock trading volume, further amplifying price volatility. South Korean regulators suspended the listing of new individual-stock leveraged products on July 16. This year, South Korean retail investors have poured more than 100 trillion won into KOSPI stocks, while foreign investors have net sold roughly $108 billion in the same period, including over $40 billion withdrawn from SK Hynix. Goldman Sachs flags leveraged ETFs as a major risk to closely monitor in South Korea’s current market.

A crypto whale sets 10 major trading targets, posts details of his Bitcoin long position, and at one point notched unrealized profits exceeding $4.5 million.

A crypto contract whale, who "set 10 major goals first", has posted on social media about its Bitcoin trade: it went long on the leading cryptocurrency with 4x leverage, with unrealized profit once surpassing $4.5 million, delivering a 7.12% return on investment. Earlier, the whale noted in a post that recent trades have been dominated by short-term long positions, with no short positions opened so far. Currently, the risk-reward ratio for shorting Bitcoin is low, as the asset is relatively near its phased bottom. Its subsequent trend may gradually emerge and kick off a new upward rally, prompting the whale to avoid missing the potential entry signal. The current position may be held for medium and long term, but adjustments will still be made based on market conditions, and further short-term trading is not ruled out. Additionally, a large-scale correction in U.S. AI-related tech stocks over the next six months is not ruled out.

Hackers Attack Kenya's Presidential Official Website, Demand 5 Bitcoin Ransom

Kenya's government is investigating the hacking incident targeting President William Ruto's official website. On July 18, attackers briefly altered the president's official site page and demanded a ransom of 5 BTC, threatening to leak undisclosed data if not paid. Kenya's Cabinet Secretary for Information, Communication and Digital Economy stated that the government has activated its cybersecurity response mechanism and is conducting a forensic investigation in collaboration with relevant agencies. There is currently no evidence indicating unauthorized access to or leakage of sensitive data, and government digital services remain operational.

Bitcoin mining firm LM Funding rebrands as PowerCompute, shifting focus to AI computing power infrastructure.

Bitcoin mining company LM Funding America (NASDAQ: LMFA) announced it will rebrand to PowerCompute Inc. and adopt a new stock ticker "PWCM" effective July 22. The company stated that the rename marks its strategic transformation, as it leverages its existing 26 megawatts (MW) of owned power infrastructure to expand into high-performance computing (HPC) and artificial intelligence (AI) infrastructure businesses. Currently, the firm operates two facilities in Oklahoma and Mississippi, U.S., with 26 MW of power capacity, and plans to provide infrastructure services to AI computing clients. It will also continue holding Bitcoin assets as part of its balance sheet.

CZ: AI cannot solve inflation, and Bitcoin has unique value storage attributes.

Binance founder Changpeng Zhao (CZ) recently posted on social media that artificial intelligence (AI) and Bitcoin (BTC) serve distinct functions: AI drives productivity gains, while Bitcoin is used to hedge against inflation and preserve wealth. CZ stated, “AI is great, but it can’t protect you from inflation—Bitcoin can.” He noted that markets often view AI and Bitcoin as two top investment themes, but they are fundamentally different: AI is a technology that boosts corporate efficiency and economic productivity, while Bitcoin is a digital asset with a fixed supply. He pointed out that the AI industry is growing rapidly, with global companies pouring billions of dollars into infrastructure such as AI software, data centers, and chips, driving transformations across sectors including healthcare, finance, and manufacturing. However, AI companies can issue additional shares to raise capital for expansion, so their investment value depends on corporate performance and market competition. In contrast, Bitcoin has a fixed total supply of 21 million coins, making it an undilutable scarce asset for holders. CZ believes this feature gives Bitcoin long-term value storage properties, acting as a hedge when fiat currency purchasing power declines due to inflation. CZ has previously noted that the AI boom could draw some capital away from the Bitcoin market. As AI firms like OpenAI and Anthropic attract more investor attention, some investors may sell other assets to allocate to AI-related investments. However, CZ argues that AI and Bitcoin are not competitive—they should be viewed as complementary assets: AI drives technological advancement and productivity gains, while Bitcoin offers a store of value unaffected by supply expansion.

Peter Brandt: Bitcoin’s bear market may bottom on October 4, and its performance over the next two to three years could outperform AI stocks.

Renowned trader and chart analyst Peter Brandt has predicted Bitcoin will bottom out on October 4, 2026, in its current market cycle, arguing that investing in the leading cryptocurrency now could yield better returns over the next two to three years than AI stocks. In an interview, Brandt said while precisely timing a market bottom is extremely challenging, he has long stood by this assessment. He believes Bitcoin’s price could still decline further, even dropping below $50,000 to the mid-to-high $40,000 range. Brandt noted all major Bitcoin bear markets in history have seen drawdowns of over 80%. Calculating from the current cycle’s peak of roughly $120,000, in an extreme scenario, Bitcoin could fall to $50,000 or lower. He pushes back against the market’s current view that a bottom has formed around $60,000, explaining that market bottoms typically do not occur during periods of neutral sentiment, but rather when investors panic, trading volume surges, and confidence collapses. On investment choices, Brandt argues AI stocks carry significant valuation risks and may fail to deliver satisfactory returns over the next two to three years. If he had $10,000 to allocate today, he would split it equally: 50% in Bitcoin and 50% in precious metals. Brandt projects Bitcoin’s next cycle peak will hit in 2029, with a target price range of $250,000 to $300,000. He has previously stated Bitcoin could eventually reach $1 million, though the timeline may extend to around 2030.

Bitcoin rebounds to break through $65,000.

According to HTX market data, Bitcoin has rebounded to break through the $65,000 mark, with a 0.90% increase in the past 24 hours.

Strategy did not purchase Bitcoin last week, and its U.S. dollar reserves rose to approximately $3.23 billion.

Strategy did not purchase Bitcoin last week, and its U.S. dollar reserves rose to approximately $3.23 billion (an increase of about $225 million).

Crypto whale sets 10 major targets: Anticipates Bitcoin is about to begin a new rally, while US AI stocks may face a major correction in the next six months.

A crypto whale using the handle "先定 10 个大目标" posted on X, stating that his recent Bitcoin trades have all been short-term long positions—he hasn’t taken any short trades because shorting at this point offers poor cost-effectiveness. He added that Bitcoin is currently at a relative temporary bottom, and he anticipates the asset is about to break out and enter a new upward trend. Worried about missing the breakout signal, the long position of 69.4 BTC he opened on the 18th could be treated as a medium-to-long term trade, though he may adjust it based on market conditions and doesn’t rule out locking in short-term gains from fluctuations. He also noted a major correction in U.S. AI-related tech stocks is possible over the next six months.

A trader took a 40x short position on Bitcoin worth $10.4 million.

According to monitoring by Onchain Lens, a trader has opened a 40x short position worth $10.4 million in Bitcoin. Additionally, he holds a 10x short position worth $463,000 in ZEC.

French bitcoin treasury firm Capital B will carry out a 1-for-10 reverse stock split.

French Bitcoin treasury firm Capital B announced a 1-for-10 reverse stock split of its share capital. The move will run from August 6 to September 7, and will not directly impact the total value of the company’s shares. Upon completion of the split, the number of outstanding shares will decrease accordingly, with the share price adjusted proportionally.

Bitcoin Whales Split: Giant Addresses Continue Accumulating, Mid-Sized Holders Accelerate Selling

Crypto analyst Amr Taha has noted a clear divergence in recent dynamics among Bitcoin holders: large whales continue accumulating Bitcoin, while medium-sized wallets are selling off at an accelerating pace. Specifically, wallets holding 1,000 to 10,000 BTC added a net ~66,700 BTC over the past 60 days, near the 68,000 BTC level set on June 16. By contrast, wallets holding 100 to 1,000 BTC recorded a net sell-off of roughly 77,800 BTC, marking one of the most aggressive sell-off periods in current data. Historical data shows that the behavior of wallets holding 100 to 1,000 BTC aligns with key short-term market turning points. On April 25, this group’s net accumulation exceeded 92,000 BTC. About 10 days later, Bitcoin entered a short-term correction, ultimately falling around 29%. Amr Taha argues that continued accumulation by large holders reduces immediately available supply, particularly during periods when smaller groups are actively distributing Bitcoin. While group data alone cannot determine future price trends, the current shift of supply toward large wallets may signal positive mid-term momentum for Bitcoin.

Bitcoin option implied volatility has plunged to rock bottom; three times so far this year, it has consistently signaled significant Bitcoin price swings.

Crypto analyst Murphy pointed out that Bitcoin’s option implied volatility (IV) is currently extremely low, with the 1-week IV at 33% and the 1-month IV at 34%—both below the 40% historical range, signaling potential "sharp price swings" in the market. Murphy’s statistics show two similar cases in the past year: 15 days after IV fell below 40% in early January, BTC dropped from $97,000 to $62,000; 14 days after IV dipped below 40% at the end of April, BTC declined from $82,000 to $60,000; and after June 15, BTC fell from $66,000 to $58,000. Murphy noted that low IV stems from market consensus, accumulated volatility arbitrage capital, and market makers’ short gamma mechanism—factors that together amplify the impact of unforeseen events. He reminded derivatives traders to prepare accordingly.

A Bitcoin whale holding over $100 million in long positions closed their positions an hour ago.

According to Yuqing Monitoring, a whale added to its Bitcoin long positions to reach $108 million this morning, at an average entry cost of $63,958. This afternoon, the whale closed out all its positions amid Bitcoin’s downward trend, netting a final profit of $280,000.

Well-known trader says Bitcoin will not fall below $50,000, waiting for the October FOMO rally.

Swiss crypto elite trader Doctor Profit (@DrProfitCrypto) stated in a post today that the widespread market expectation of Bitcoin hitting a bottom between September and October amid its four-year cycle is a contrarian signal, meaning the traditional consensus-based bottom may not materialize, while the probability of BTC falling below $50,000 remains low. Profit has deployed all his short-selling profits to purchase Bitcoin at approximately $64,000, and plans to allocate 5% of his capital daily to gradually accumulate BTC in the $54,000–$64,000 range, balancing his positions with a 4:1 BTC-to-ETH ratio. He emphasized upcoming institutional catalysts: BlackRock’s tokenization platform launch in October and a potential clear regulatory bill in August, which will bring narratives around 24-hour stock trading and blockchain legalization, possibly triggering early FOMO and pushing prices higher. A prominent crypto figure with nearly 500,000 followers on X, Profit is known for his expertise in market psychology, Bitcoin trading, and stock trading. He previously executed a successful short position on Bitcoin near $120,000 in September 2025, and recently closed all his short positions in Bitcoin and over 100 altcoins to adopt a spot accumulation strategy.

Analysis: Binance and Bybit recorded over $2.3 billion in stablecoin outflows over the past 30 days, while Bitcoin (BTC) liquidity continues to contract.

CryptoQuant analyst Darkfost stated in a recent post that stablecoin reserves on Binance and Bybit have been steadily declining, with a combined outflow of more than $2.3 billion over the past 30 days, a trend reflecting insufficient new liquidity in the crypto market. Binance’s stablecoin reserves decreased by roughly $1.55 billion in that period, while Bybit’s fell by approximately $786 million, bringing the total outflow from the two major exchanges to nearly $2.3 billion. Bitcoin has been fluctuating around the key $60,000 level for about 165 consecutive days; although it briefly surged past $80,000 in May, the upward momentum could not hold. The current market lacks new capital inflows, with weak new demand for both BTC and the overall crypto sector. Exchange stablecoin reserves have been on the decline since the start of the year, with outflows dominating, signaling that investors are reducing their fund allocations to exchanges, and some capital may even be exiting the market. Liquidity contraction and cautious market sentiment have become major obstacles for BTC to break out of its current trading range.

A certain crypto whale continues to add to its Bitcoin long positions, lifting the position value to $108 million.

According to EmberCN’s monitoring, a crypto whale added to its long Bitcoin (BTC) position 50 minutes ago, currently holding 1,662.5 BTC, with the position valued at roughly $108 million. Data shows the whale’s average entry price for its BTC long position is $63,958, bringing an unrealized profit of approximately $1.38 million. Due to the use of high leverage, its liquidation price is relatively close to the current level, at around $63,142.

The yield on the U.S. 30-year Treasury auction has hit its highest level since 2007, potentially putting pressure on risk assets such as Bitcoin.

According to data from the Kobeissi Letter, the latest auction yield on the U.S. 30-year Treasury bond has risen to 5.06%, the highest level since 2007, pushing long-term U.S. Treasury yields back above 5%. For comparison, the yield on the same-term U.S. Treasury bond stood at around 2% at the start of 2022. Analysts argue that the rise in long-term yields means an increase in the risk-free rate, which will raise the discount rate for risky assets, creating structural pressure on high-risk assets like Bitcoin. The current risk-free rate above 5% has raised the allocation threshold for speculative funds, while the rising cost of debt financing due to expanding fiscal deficits has also sent risk-off signals to the market in the short term. Additionally, the boom in artificial intelligence infrastructure investment is further intensifying competition for funds. Large tech companies continue to issue bonds to finance AI construction, competing with the U.S. government for market funds, which further pushes up long-term interest rates. The market is watching the 5.20% level, a high point hit in May this year. If yields break through this level, it could signal that long-term rates will continue to rise, leading to further tightening of financial conditions.

Analysis: Bitcoin will not bottom out this quarter; the current sideways consolidation is a false stability, with the real bottom and accumulation window arriving in October.

Market analyst Noname has published a post refuting the current "bottom is already here" narrative, arguing that calling a bottom is premature. The current sideways consolidation essentially reflects indecision, with "hesitation at this level usually preceding a downward breakout before an upward move." The analyst outlined a clear path forecast for the second half of 2026: July will see "false stability" and a bear trap rally, with volatility to flush out weak positions; August will mark the start of the real decline, testing the $50,000 level for the first time; September will extend downward pressure, with a W-bottom structure beginning to form; October will be the actual bottom and accumulation zone, at which point participation strategies will turn aggressive; November will show initial signs of recovery, with prices starting to rebound from the bottom; December will bring the possibility of returning to $100,000 for the first time since the bear market began. The analyst emphasized that the final sell-off is still imminent, though most refuse to believe it. "Don’t let the sideways movement fool you." In terms of rhythm, the decline since the June high is a full liquidation of the three-year rally. Previous bear cycles all ended with corrections of over 80%; the current price is roughly 50% down from its all-time high, so if history repeats, lower targets should still be within expectations. The analyst predicts the final bottom will not drag into the fourth quarter—this cycle will complete in the third quarter. An oversold zone with expanding volume may be observed between August and September, followed by a breakout in the fourth quarter, and returning to $100,000 by year-end will be the minimum rebound target needed for bulls to repair structural damage.

Michael Saylor once again released Bitcoin tracker data, potentially signaling another BTC accumulation.

Michael Saylor, founder of Strategy, has once again released updates related to Bitcoin Tracker. He stated, "What’s next?" According to historical patterns, Strategy always discloses details of its Bitcoin holdings increase the day after such related announcements are made.

Renowned trader closes all crypto short positions, resumes buying Bitcoin spot

Renowned crypto trader Doctor Profit announced in a post that he has closed all his cryptocurrency short positions, including Bitcoin shorts established in the $115,000–$125,000 range, another Bitcoin short in the $79,000–$82,000 range, and over 100 altcoin shorts opened in recent months, noting that all these positions have generated significant profits. He also said he has repurchased Bitcoin spot at $64,000, marking his first long-term allocation since September 2025. His plan is to invest 5% of his planned capital daily in spot Bitcoin purchases when the price is in the $54,000–$64,000 range, for up to 20 days total; if the price approaches $54,000, he will increase his buying activity. Doctor Profit pointed out that the current market is showing clear "herd behavior": investors who were previously bullish on Bitcoin up to $150,000 at high levels are now widely waiting for the cryptocurrency to drop to $40,000–$50,000, and are targeting September or October as the bottom of the four-year cycle. When a large number of investors are waiting for the same price level and time point, the market may not move as expected, so he chose to build positions in advance and judges that this cycle’s bottom may arrive earlier than the market’s general expectation. He also cited regulatory clarity, asset tokenization infrastructure, and progress in institutional adoption as the structural reasons for his shift to buying, and retracted his previous prediction that Bitcoin would fall to $40,000–$50,000. However, he still holds all his S&P 500 short positions, arguing that the crypto market has completed a large repricing, while U.S. stock valuations remain elevated.

Analyst: If Bitcoin fails to effectively break through $66,000, the risk of a phased top rises.

Glassnode’s lead research analyst CryptoVizArt noted in a post that the short-term holder cost basis distribution heatmap shows a new round of coins shifting to new buyers in the $62,000–$65,000 range during Bitcoin’s rebound from $57,000. He pointed out that this structure has two sides: on one hand, buyers’ active accumulation during the rally could form a new cost basis support, paving the way for Bitcoin to test levels of $66,000 and higher. On the other hand, this round of coin accumulation is heavily concentrated toward the end of the local rebound. If Bitcoin fails to break above $66,000 convincingly, the risk of the market forming a short-term top will rise. $66,000 is the key short-term level to judge the above two scenarios.