As Bitcoin surges past $112,000, Bhutan strategically liquidates a portion of its holdings at peak market levels, securing significant gains while other governments, notably Germany, face scrutiny for poorly timed sales. Bhutan Executes Timely Bitcoin Sale Bhutan’s sovereign investment fund, Druk Holding and Investments (DHI), made headlines on Wednesday by transferring 213.5 BTC, valued at $23.73 million, to a Binance deposit address. This marked the second consecutive week of sizeable transfers from the Himalayan kingdom, signaling an effort to capitalize on current market strength. Blockchain analytics firm Arkham Intelligence confirmed the transaction, which strategically occurred just hours before Bitcoin reached its highest price level in months. The move is part of Bhutan’s broader treasury strategy, which has increasingly leaned on digital assets as a sovereign wealth tool. Despite recent sales, Bhutan maintains a substantial Bitcoin reserve of 11,711 BTC, estimated at $1.3 billion at current valuations, positioning it as one of the most crypto-forward governments globally. Bitcoin Climbs After Weeks of Consolidation The sale comes as Bitcoin broke past the $112,000 mark this week after spending nearly two months fluctuating between $105,000 and $111,000. Data from Coingecko recorded over $60 billion in global trading volume within a 24-hour window as the world’s largest cryptocurrency surged amid growing market optimism and institutional interest. This bullish momentum, largely fueled by persistent inflows into Bitcoin ETFs and sustained support from institutional investors, has created sharp contrasts in the approaches of government-backed crypto holders. Germany’s Mistimed Sell-Off Highlights Bhutan’s Prudence In stark contrast, the German government offloaded 49,858 BTC between June 19 and July 12, 2024, at an average price of $57,600 per coin. The total liquidation netted $2.87 billion, but the decision proved costly as Bitcoin’s value more than doubled shortly after the sell-off. At current market rates, the same Bitcoin stockpile would be worth approximately $5.54 billion, representing $2.67 billion in missed unrealized gains. Germany’s poorly timed exit, executed just before the market’s significant rally, has sparked criticism over its asset management strategy. Growing Portfolio and Modest Altcoin Gains Arkham’s data revealed that Bhutan’s overall crypto holdings increased to $1.304 billion as of July 10, a notable rise from $1.26 billion the previous week. The bulk of this $38.4 million gain stemmed from Bitcoin’s upward trajectory, though smaller assets within the government’s wallet also posted modest gains. Tokens such as AIKEK and KIBSHI appreciated by approximately 17% and 42%, respectively, while BOBO, a memecoin holding of 69 million units, added a marginal $3.60 in value. These incremental increases, though minor compared to Bitcoin’s performance, reflect Bhutan’s diversified digital asset portfolio strategy, extending beyond just mining and Bitcoin accumulation. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
The financial world often operates like a complex, interconnected web. When one major segment experiences turbulence, it’s natural for ripples to spread, affecting other markets. Today, the news from the US stock market opening lower has certainly caught the attention of investors worldwide, and especially those deeply invested in the dynamic world of cryptocurrencies. While crypto markets often march to their own beat, they are not entirely immune to the broader economic winds blowing through traditional finance. Understanding these connections is crucial for navigating today’s volatile landscape. Understanding the Latest US Stock Market Opening The start of trading today saw a noticeable downturn across all three major U.S. stock indices. This immediate dip often reflects prevailing investor sentiment and macroeconomic concerns that are shaping decisions across various asset classes. For many, the traditional stock market acts as a barometer for the overall economic health, and its movements can provide insights into the appetite for risk among global investors. Here’s a quick snapshot of how the indices opened: S&P 500: -0.39% Nasdaq: -0.31% Dow: -0.60% These figures, while seemingly small percentages, represent billions of dollars in market capitalization and reflect a cautious, if not bearish, sentiment right from the opening bell. Decoding the Recent Stock Market Decline : What the Numbers Say A stock market decline , even a modest one at the open, can be triggered by a confluence of factors. These often include: Inflation Concerns: Persistent inflation can erode purchasing power and corporate profits, leading investors to pull back. Interest Rate Hikes: Central banks raising interest rates to combat inflation can make borrowing more expensive for businesses and consumers, slowing economic growth. Economic Data: Weaker-than-expected jobs reports, manufacturing data, or consumer confidence surveys can signal an impending economic slowdown. Geopolitical Tensions: Global events and political instability can introduce uncertainty, causing investors to seek safer assets. Corporate Earnings: Disappointing earnings reports from major companies can drag down sector-specific or broader market performance. While the exact catalysts for today’s specific opening dip would require deeper analysis of concurrent news, these are the general forces that often contribute to such movements. Investors are constantly weighing these factors, and their collective decisions shape the market’s trajectory. How Nasdaq Performance Reflects Tech Sector Jitters The Nasdaq Composite, heavily weighted towards technology and growth stocks, often acts as a bellwether for investor appetite for higher-risk, higher-reward assets. The observed -0.31% dip in Nasdaq performance at the open suggests that the tech sector, which has often led market rallies in recent years, is currently facing headwinds. This could be due to concerns over rising interest rates, which disproportionately impact growth stocks by making future earnings less valuable, or perhaps specific company news within the tech space. When the tech giants on the Nasdaq experience pressure, it can send a signal across the broader market. Many crypto projects, particularly those focused on Web3, DeFi, and NFTs, are often seen through a similar lens as tech startups – high growth potential, but also higher risk. Therefore, a struggling Nasdaq can sometimes foreshadow or coincide with similar sentiment in the digital asset space. The S&P 500 Dip : A Broader Economic Bellwether? The S&P 500, representing the 500 largest U.S. publicly traded companies, is widely considered the best gauge of large-cap U.S. equities. Its -0.39% S&P 500 dip at the open indicates a broader market apprehension that extends beyond just the tech sector. This index includes a diverse range of industries, from finance and healthcare to consumer staples and industrials. A decline here suggests that concerns are not isolated but are affecting a wide swath of the U.S. economy. For crypto investors, observing the S&P 500 is crucial because it often reflects the general ‘risk-on’ or ‘risk-off’ sentiment. When the S&P 500 shows weakness, it often means investors are pulling back from riskier assets across the board, which can include cryptocurrencies. Navigating the Crypto Market Reaction to Traditional Finance Volatility The big question for our readers is: what does this crypto market reaction look like? Historically, there have been periods where cryptocurrencies, especially Bitcoin, have shown a correlation with traditional stock markets, particularly the Nasdaq. When the stock market dips, Bitcoin and other digital assets can sometimes follow suit, especially during times of macroeconomic uncertainty. This is often attributed to: Liquidity Crunch: In times of panic, investors might sell off crypto to cover losses in traditional markets or to increase their cash reserves. Risk-Off Sentiment: Both tech stocks and cryptocurrencies are often considered ‘risk-on’ assets. When investors become risk-averse, they tend to divest from these assets first. Institutional Adoption: As more institutional money enters the crypto space, the correlation with traditional finance might strengthen, as these institutions manage diversified portfolios. However, it’s also important to remember that the crypto market has its own unique drivers, including technological advancements, regulatory news, network upgrades, and community sentiment. While today’s stock market opening might send initial ripples , the long-term trajectory of digital assets will depend on a broader set of factors. Actionable Insights for Crypto Investors Given the current market dynamics, what can crypto investors do? Stay Informed: Keep an eye on both traditional financial news and crypto-specific developments. Assess Your Risk Tolerance: Understand that volatility is inherent in both markets. Ensure your portfolio aligns with your comfort level. Diversify (Wisely): While diversification within crypto is important, consider how your overall investment portfolio balances traditional and digital assets. Long-Term Perspective: For many, cryptocurrencies are a long-term investment. Short-term market fluctuations, while impactful, may not dictate the ultimate success of your strategy. Dollar-Cost Averaging: Consider a strategy of regular, smaller investments rather than trying to time the market. This can help mitigate the impact of volatility. Conclusion: The Interconnected Financial Landscape The lower opening of the major U.S. stock markets today serves as a stark reminder of the interconnectedness of global finance. While cryptocurrencies strive for decentralization and independence, they are not entirely decoupled from the macroeconomic forces that influence traditional assets. The stock market decline , reflected in the Nasdaq performance and S&P 500 dip , inevitably sends ripples through the entire investment ecosystem, prompting a cautious crypto market reaction . For crypto enthusiasts, this highlights the importance of not just understanding the blockchain and tokenomics, but also keeping a pulse on broader economic indicators. By doing so, investors can better anticipate potential shifts and make more informed decisions in their journey through the exciting, yet sometimes unpredictable, world of digital assets. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin and Ethereum price action.
Core Scientific and CoreWeave have announced a monumental $9 billion all-stock merger, signaling a significant consolidation in the crypto and AI sectors. Meanwhile, Bitcoin ETFs experienced a massive influx of
Ego Death Capital has launched a $100 million fund exclusively for Bitcoin startups, signaling renewed institutional confidence in BTC as the cornerstone of decentralized finance. Meanwhile, Robinhood’s aggressive tokenization strategy
Coinbase has filed a lawsuit against Oregon officials, specifically targeting Governor Tina Kotek and Attorney General Dan Rayfield, over an abrupt shift in the state’s cryptocurrency policy. In the lawsuit filed late Thursday, the company accused the governor and other state officials of changing their position on digital assets without traditional hearings or sparing time for agency rulemaking and public comment. Ryan VanGrack, vice president of litigation at Coinbase , said the agenda that Oregon AG Dan Rayfield is pushing has the potential to make out-of-state law firms wealthy at the expense of local residents looking to trade digital assets. VanGrack asked important questions, like why Governor Kotek is refusing to provide basic information about the case, including why the state suddenly changed its views on crypto. “Oregonians deserve to know why their government is keeping them in the dark — and why they’re pursuing a case that would deprive Oregonians (and only Oregonians) from trading crypto,” VanGrack said. pic.twitter.com/siEmaP50IQ — paulgrewal.eth (@iampaulgrewal) July 11, 2025 Coinbase thinks Oregonians deserve the truth from their government The lawsuit comes after the state attorney general, Mr. Rayfield, dragged Coinbase to court in April, accusing it of skirting state and federal law for failing to register with the U.S. Securities and Exchange Commission or the Oregon Department of Consumer and Business Services. There has been little progress on the case, and Coinbase is looking to get it dismissed. In its Thursday filing, the company highlighted how, for years, Oregon state officials advised its residents that digital assets — like cryptocurrency — are “not regulated” as state securities. However, their sentiments changed in April, and with the support of New York and D.C. attorneys, the state sued Coinbase, accusing it of operating illegally due to not having registered. If Oregon emerges victorious, out-of-state firms stand to gain 20% to 30% of any money recovered in the lawsuit. Coinbase claims in its filing that there was no law passed by the Oregon Legislature to regulate digital assets, and Oregonians deserve answers from their state government. The legal battles between Oregon and Coinbase are occurring at a critical time when there is bipartisan support for legislation imposing some regulations on crypto. Congress will vote on the CLARITY Act and the GENIUS Act in the coming week, and both are expected to promote transparency and regulation in the digital asset industry, setting up some requirements and guidelines to better protect consumers. Recent regulatory advancements have helped Coinbase’s stock Coinbase’s stock has performed strongly, with a 50.25% increase over the past month and a 75.49% rise over the last year. Coinbase stock price. Source: Google Finance The stock hit a new all-time high of $389.06 on July 10, 2025, inspired by bullish crypto market trends, including Bitcoin surging past $117,000, and positive regulatory developments like the GENIUS Act, which has provided a regulatory framework that could foster growth in the crypto industry. The company has also secured a Markets in Crypto License (MiCA), which has expanded its operational capabilities and market reach in Europe. While its strategic initiatives have positioned it as a leader in the crypto exchange market and its commitment to regulatory compliance, the company’s proactive approach to addressing market challenges is what has earned it the trust of investors and users alike. Mark Palmer, an analyst at Benchmark, reiterated his “buy” rating on Coinbase in June, elevating his price target from $301 to a significant $421. The bullish stance follows similar optimism from Cantor Fitzgerald, whose analysts last month reaffirmed their “overweight” rating on Coinbase’s stock, while simultaneously raising their 12-month price target from $253 to $292. Palmer tagged the recent bipartisan passage of the GENIUS Act in the U.S. Senate as a catalyst for Coinbase’s growth, as the company has an enduring partnership with Circle, the issuer of the USDC stablecoin, and is poised for direct and substantial benefits should the bill be signed into law. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
Core Scientific and CoreWeave announce a massive $9B merger while Bitcoin ETFs see their second-biggest day ever with $1.17B in inflows.
On July 11, Bitcoin breached the $118,000 mark. This growth occurred amid active buying by long-term investors. According to CryptoQuant, the balance of ”accumulators” reached an annual maximum of 248,000 BTC. The figure has increased by 71% since June 22. Such strong demand was last seen on December 20, 2025. At that time, Bitcoin traded at $97,000, and the number of coins held at holders' addresses reached a record 278,000 BTC. A Signal for Growth Demand is recovering from a dip in the fourth quarter of 2024. Although net interest remains negative, it is growing rapidly, indicating that buyers are strengthening their positions. Analyst Axel Adler Jr. believes that the first point for profit-taking will come at a price of $130,900. The MVRV ratio must reach 2.75 to begin distribution. The expert compared the market capitalization to the realized capitalization. Glassnode noted a $4.4 billion increase in realized capitalization while crossing $113,000. This shows active investor trades rather than speculative growth, analysts said. $150,000 Target Milk Road co-founder Kyle Reidhead has set a $150,000 target for Bitcoin. The expert sees a bullish cup-and-handle formation that formed in June. Reidhead is confident of further gains for the asset after it returns to $112,000. Kyle Reidhead wrote, ”See you at $150,000.” The chief analyst of Bitget Research, Ryan Lee, shares the same forecast, provided that the current trend and inflows of institutional capital are maintained. In a commentary to ForkLog, the expert said that several factors are influencing the strengthening of Bitcoin: Pro-cryptocurrency rhetoric from the administration of US President Donald Trump Steady inflows of funds into ETFs Increased interest from corporate treasuries All this creates conditions for a continuation of the bullish trend as early as the start of the third quarter. As Lee noted, growth above $117,000 is an important signal for the market and can only be an intermediate stop before a new spurt. The average projected price of Bitcoin in the coming months is $125,000, with an expected trading range of $105,000 to $150,000. The $108,500 (support) and $130,000 (resistance) levels remain important technical benchmarks. According to Lee, consolidation above $130,000 will open the way to a new phase of growth. At the same time, the expert recalled a characteristic feature of the crypto market—high volatility: ”Sharp growth can be accompanied by a rapid correction—down to $110,000, or even into the $100,000–$105,000 range, where the key support zone is located. However, the fundamental trend remains positive.”
The crypto market soared on Friday as its market capitalization surged over 5%, thanks to Bitcoin (BTC) , Ethereum (ETH) , and other altcoins registering substantial increases. BTC soared to a new all-time high, just days after crossing $112,000, as it raced to $118,403 before registering a marginal decline and moving to its current level. The flagship cryptocurrency is up over 5% in the past 24 hours, trading around $116,617. Meanwhile, ETH rallied over 7%, reaching an intraday high of $2,972 before moving to its current level of $2,963. Ripple (XRP) also traded in positive territory, with the price up over 6%, trading around $2.56. Meanwhile, Solana (SOL) crossed the crucial $160 mark thanks to the market rally. The altcoin is up almost 5%, trading around $164. Dogecoin (DOGE) is up over 10%, trading around $0.198, while Cardano (ADA) is up almost 11%, trading around $0.685. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Toncoin (TON) , Litecoin (LTC) , and Polkadot (DOT) also registered notable gains. Remixpoint Raises $215 Million To Expand Bitcoin Holdings Energy company Remixpoint has raised 31.5 billion yen ($215 million) to expand its Bitcoin treasury. The firm will allocate all the raised funds to purchase BTC. Remixpoint raised the funds through its 25th series of stock acquisition rights and a fourth series of unsecured bonds. The series of stock acquisition rights will create over 55 million new shares, and represents a 39.5% share dilution. Remixpoint is currently the 30th largest corporate Bitcoin treasury, holding 1,051 BTC. The firm plans to increase its holdings to 3,000 BTC in the near term. The news comes after Remixpoint announced that CEO Takashi Tashiro will be paid in Bitcoin as part of the company’s efforts to be “in the same boat” as its shareholders. Remixpoint’s board has unanimously approved its Bitcoin investment strategy, highlighting the potential to enhance corporate value from a risk-return perspective while preserving flexibility. “We have become even more convinced of Bitcoin’s future, and this decision is the result of extensive discussions. We understand the difference between seizing opportunities and playing it safe, as well as the distinction between a challenge and recklessness.” US Treasury Officially Removes Controversial Biden-era Reporting Rule In a big win for DeFi platform compliance with the Internal Revenue Service (IRS), the US Treasury Department officially removed the controversial DeFi broker reporting rules. The Biden-era rule required DeFi platforms to issue IRS 1099-DA forms for all user transactions. The repeal was part of an earlier act in which the US Congress repealed the rule. President Donald Trump signed the bill in April. Several DeFi-friendly congressmen viewed the rule as a burden on DeFi platforms. They also believed it went against the principles of decentralization. Under the new reporting rules, DeFi platforms will be exempt from several compliance requirements. These include know your customer (KYC) rules and transaction reporting. Additionally, the Congressional Review Act mechanism also ensures the IRS cannot issue a substantially similar rule in the future unless authorized by Congress. However, the repeal is applicable only to non-custodial DeFi applications, with centralized exchanges still subject to 1099-DA forms. Bitcoin (BTC) Could Move To $120,000 Predictions that Bitcoin’s (BTC) latest rally could soar past $120,000 during its latest bull run are on track, with the flagship cryptocurrency crossing $118,000 during the ongoing session and showing no signs of slowing down. While BTC is soaring to record levels, altcoins are emerging as bigger winners, with Ethereum (ETH) crossing the crucial $3,000 mark, and Ripple (XRP) surging past $2.50. ETH is up over 8%, while XRP is up 7%, with buyers firmly in control. BTC broke past $112,000 on Thursday after weeks of trading in range, and continued its uptrend on Friday. Analysts have stated that there is clear evidence of renewed spot demand and conviction buying. “Bitcoin’s latest breakout above $112,000 confirms the market has broken out of its ‘indecisive’ phase. There's clear evidence of renewed spot demand and conviction buying.” The flagship cryptocurrency’s market dominance has also reached multi-year highs. Strong ETF demand, exchange outflows, and corporate treasuries are giving significant bullish signals for the Bitcoin market. Altcoins Surge Bitcoin’s (BTC) dominance jumping to multi-year highs has raised questions about altcoins. While BTC is cornering significant capital, altcoins have significant potential for a rally. According to analysts, an altcoin rally could likely come down to macroeconomic factors. “Right now, the trend favors Bitcoin. But just beneath it, altcoins are quietly positioning for a late-summer rotation. But if macro shocks hit (a hawkish Fed pivot or geopolitical escalation), Bitcoin could spike in dominance as risk appetite vanishes.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) has soared to a new all-time high just hours after crossing $112,000 on Thursday. The flagship cryptocurrency’s latest push was powered by strong demand from retail and institutional investors, and the crypto-friendly policies of the Trump administration. According to analysts from Sygnum Bank, BTC’s latest rally is being driven by its growing recognition as a safe-haven asset. Katalin Tischhauser, the head of research at Sygnum Bank, stated that BTC has outperformed and has been decoupling on days when the S&P 500 and broader markets corrected. “This has been supported by Bitcoin’s increasing status as a safe haven asset in the face of fiat debasement, also confirmed by the first US state signing a Bitcoin reserve bill into law, following the federal Bitcoin reserve established by Executive Order.” Bitcoin reserves across centralized exchanges have also been declining since April, a sign of long-term confidence in the asset. Declining reserves could lead to a supply shock-driven rally. The flagship cryptocurrency raced to a new all-time high of $118,403, barely 24 hours after it crossed $112,000. BTC’s jump past $118,000 triggered a wave of liquidations, wiping out over $1 billion in short contracts in 24 hours. According to data from Coinglass, the value of shorts liquidated on July 10 is the single-largest liquidation event this year. Long contracts worth $120 million were also liquidated in the same timeframe, highlighting the market’s renewed bullish momentum. Derivatives exchange Bybit accounted for most of the liquidations, with $291 million in contracts liquidated, 98% of which were shorts. HTX saw $138 million in liquidations while Gate ($71.8 million), OKX ($54.62 million), and Binance ($54.56 million) completed the top 5. Analysts pointed out that the current breakout is far calmer and structurally sound, and highlighted that despite the surge, important indicators suggest the market is not overheated. BTC’s MVRV ratio stands at 2.2, significantly lower than the overheated levels seen during rallies in March and December 2024. There has also been a shift in investor behavior. Analysts noted that during previous bull markets, short-term holders made up around 30% of the market. However, the current rally has seen that number drop to 15%, meaning less volatility and a lower risk of sudden selloffs. Miners have also remained relatively quiet, while retail investors are largely missing. BTC has mostly traded positively since last Tuesday’s low of $105,328. The flagship cryptocurrency recovered from this level, rising nearly 3% and settling at $108,845. Buyers retained control on Thursday as BTC crossed $110,000 for the first time since May, reaching an intraday high of $110,583. The price registered a marginal decline from this level and settled at $109,637. Despite the positive sentiment, BTC was back in the red on Friday, dropping 1.41% to $108,097. Price action returned to positive over the weekend as BTC rose 0.19% on Saturday and nearly 1% on Sunday to reclaim $109,000 and settle at $109,231. Source: TradingView BTC started the current week in the red, dropping almost 1% to $108,273. However, market sentiment began picking up, with the price rising 0.62% on Tuesday and settling at $108,942. Buyers retained control as BTC rose over 2%, briefly crossing $112,000 for the first time before settling at $111,255. Bullish sentiment intensified on Thursday as BTC raced to an intraday high of $116,401 before settling at $115,159. The flagship cryptocurrency soared past $118,000 during the ongoing session, reaching an intraday high of $118,403 before moving to its current level of $117,255, up almost 2%. Ethereum (ETH) Price Analysis Ethereum (ETH) is on the verge of reclaiming $3,000, a level the world’s second-largest cryptocurrency has not seen since February 2025. ETH is up nearly 7% in the past 24 hours, as the crypto market soars to new highs. The price had lagged behind BTC this cycle, but the narrative has finally turned bullish thanks to growing ETF inflows and tokenization narratives fueling investor confidence. If ETH closes above $3,000, it could trigger another rally, taking it past the $3,500 mark. Data analytics platform Swissblocks highlighted that the current scenario for ETH is more bullish than Q2, potentially marking the beginning of alt season. ETH inflows have gained momentum, with institutional demand also rising. Chicago Mercantile Exchange (CME) ETH futures open interest jumped to $3.27 billion, the highest since February 2. The jump suggests increased institutional positioning, indicating a growing appetite among investors to gain exposure to ETH. ETH registered a sharp drop on Tuesday (July 1), dropping over 3% to $2,407. Despite the bearish sentiment, the price recovered on Wednesday, rising nearly 7% to cross the moving averages and settle at $2,572. Buyers retained control on Thursday as ETH rose 0.79%, reaching an intraday high of $2,636 before settling at $2,592. However, it lost momentum on Friday, dropping over 3% and settling at $2,509. ETH recovered over the weekend, rising 0.35% on Saturday and over 2% on Sunday to settle at $2,572. Source: TradingView Despite the positive weekend, ETH was back in the red on Monday, dropping 1.12% to $2,543. The price rebounded on Tuesday, rising nearly 3% to cross $2,600 and settle at $2,616. Bullish sentiment intensified on Wednesday as ETH rose almost 6% to cross $2,700 and settle at $2,770. Buyers retained control on Thursday as the price reached an intraday high of $3,001 before settling at $2,950. The current session sees ETH up over 1%, trading around $2,981. If ETH closes above $3,000, it could extend its rally beyond $3,500. The MACD and RSI show strong bullish sentiment, but ETH could see a small correction before resuming its rally. Solana (SOL) Price Analysis Solana (SOL) lost momentum during the ongoing session, with the price marginally down after reaching an intraday high of $166. SOL crossed the crucial $160 mark on Thursday when it raced to $165 before closing at $164. The altcoin’s uptick came amid a jump in market activity as 23-hour trading volumes rose 19% to $4.9 billion, indicating that traders could be readying for a potential breakout. Institutional interest in SOL is also picking up, adding weight to an already-bullish scenario as altcoins get dragged higher by BTC’s jump to a new all-time high. Despite SOL’s impressive performance, it remains substantially lower than its January peak of $294. Analysts, including James Seyffart and Eric Balchunas, predict that a Solana ETF could be approved by October. SOL registered a substantial drop last Tuesday, falling over 5% to $147. Despite the selling pressure, the price recovered on Wednesday, rising almost 4% to reclaim $150 and settle at $152. SOL reached an intraday high of $156 on Thursday but lost momentum after reaching this level and fell back to $152. Selling pressure intensified on Friday as the price dropped over 3%, slipping below $150 and settling at $147. Sellers retained control on Saturday as SOL registered a marginal decline. However, it recovered on Sunday, rising almost 3% to reclaim $150 and settle at $151. Source: TradingView SOL was back in the red on Monday, dropping almost 2% and settling at $148. Despite the bearish start to the week, the price recovered on Tuesday, rising nearly 2% to reclaim $150 and settle at $151. Buyers retained control on Wednesday as SOL rose 3.54%, crossing the 50-day SMA and settling at $157. Bullish sentiment intensified on Thursday as the price soared past $160, reaching an intraday high of $165 before settling at $164. The current session sees SOL marginally down as it runs into resistance around the 200-day SMA. A break above this level could see the price reach $200. Ripple (XRP) Price Analysis Ripple (XRP) finally broke above the 200-day SMA and the resistance around $2.20, with bulls controlling the momentum. With a clear bullish structure forming, analysts predict a further uptrend, potentially pushing XRP past $2.70. XRP has largely traded below $2.40 since the end of April, except for a surge to $2.65 in mid-May. The token is up almost 6% in the past 24 hours and over 16% in the past week. XRP started the previous week in positive territory despite facing selling pressure and volatility. However, it lost momentum on Tuesday, dropping almost 3% to $2.17. Bullish sentiment returned on Wednesday as the price rose nearly 3%, soaring to an intraday high of $2.30 before settling at $2.23. Buyers retained control on Thursday as XRP rose 1.10%, crossing the 50-day SMA and settling at $2.25. However, it lost momentum on Friday, dropping 1.65%, slipping below the 50-day SMA, and settling at $2.22. XRP registered a marginal decline on Saturday before rising over 2% to end the weekend at $2.27. Source: TradingView XRP raced to an intraday high of $2.35 on Monday. However, it lost momentum after reaching this level and dropped to $2.27, ultimately registering a marginal decline. Buyers returned to the market on Tuesday as the price rose almost 2% and settled at $2.31. XRP continued pushing higher on Wednesday, rising over 4% to cross the 200-day SMA and settle at $2.40. Bullish sentiment intensified on Thursday as XRP rallied nearly 6% to cross $2.50 and settle at $2.54. The current session sees XRP up almost 2%, trading around $2.59. Filecoin (FIL) Price Analysis Filecoin (FIL) plunged below the 20-day SMA on Monday (June 30), dropping to $2.30. The price continued dropping on Tuesday, falling nearly 5% and settling at $2.19. Despite the overwhelming selling pressure, FIL recovered, rising over 8% to cross the 20-day SMA and settle at $2.37. Buyers retained control on Thursday as the price rose almost 1% and settled at $2.39. However, FIL lost momentum on Friday, dropping nearly 6% and settling at $2.25. Selling pressure persisted on Saturday as the price registered a marginal decline. However, it recovered on Sunday, rising 1.38% to end the weekend at $2.28. Source: TradingView FIL started the current week on a bearish note, dropping 0.38%. The price recovered on Tuesday, rising 1.59% and settling at $2.31. Buyers retained control on Wednesday as FIL rose 5.55% and settled at $2.43. Bullish sentiment intensified on Thursday as the price rallied, rising almost 6% to cross the 50-day SMA and settle at $2.58. The current session sees FIL up 1.50%, trading at $2.62 as buyers look to push the price higher. Dogwifhat (WIF) Price Analysis Dogwifhat (WIF) started the previous week in the red, registering a marginal decline on Monday before dropping nearly 10% on Tuesday and settling at $0.784. Despite overwhelming selling pressure, WIF recovered on Wednesday, rising almost 16% to cross the 20-day SMA and settle at $0.909. Buyers retained control on Thursday as the price rose 1.54% and settled at $0.923. Selling pressure returned on Friday as WIF plunged over 8% to $0.847. Sellers retained control on Saturday as WIF faced selling pressure and volatility, ultimately remaining at $0.847. However, it recovered on Sunday, rising 3.54% and settling at $0.877. Source: TradingView Price action was back in the red on Monday as WIF fell almost 4% after failing to cross the 200-day SMA and settled at $0.843. The price registered a marginal recovery on Tuesday and moved to $0.850. Bullish sentiment intensified on Wednesday as WIF rallied, rising nearly 13% to cross the 50 and 200-day SMAs and settled at $0.960. Buyers retained control on Thursday as WIF reclaimed $1 and settled at $1.04. The current session sees the price down over 1%, trading around $1.03. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
The US national debt has reached a new record high just one week after a massive spending bill cleared Congress. The Treasury’s Debt to the Penny database shows the government’s mountain of debt surged $384.7 billion from July 3rd to the 9th. That brings the total outstanding debt to an all-time high of $36.6 trillion. This rapid rise is largely driven by the refilling of the Treasury General Account (TGA), as the government resumes borrowing to cover delayed payments and restore cash reserves. The spending bill, signed by President Trump, raised the debt ceiling by a whopping $5 trillion – the largest increase in US history. The debt ceiling now stands at $41.1 trillion, averting default until 2027. The wide-ranging legislation permanently extends the 2017 tax cuts, reducing federal revenue by trillions over the next decade. After accounting for offsets, the CBO forecasts the bill will add around $2.8 trillion to the deficit in 10 years. The Trump administration disputes the estimate, and Treasury Secretary Scott Bessent says he believes the bill’s tax cuts and deregulation will spur economic growth that outpaces deficit concerns. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post US National Debt Surges $384,700,000,000 in Just One Week As Massive Pile of Debt Shatters New All-Time High appeared first on The Daily Hodl .
The past 24 hours have witnessed bitcoin (BTC) record all-time highs (ATHs) again and again, with the latest being at almost $119,000. While it is evident that institutional demand and whale movements are driving this rally, analysts have identified another cohort of investors who have contributed to the surge. According to a tweet by the market insights firm, Glassnode, demand from leveraged traders is playing a bigger role in this rally than spot investors. Leveraged Demand Drives BTC Rally Glassnode revealed that Bitcoin’s spot Cumulative Volume Delta (CVD) has been on a decline for weeks. CVD analyzes investor sentiment by telling whether aggressive buyers or sellers are dominating the market. The metric measures trading activity by comparing buying and selling volume over a period. Over the past weeks, bitcoin’s spot CVD has recorded rare buy-side spikes, with the latest being on July 9. Conversely, futures CVD has been more reactive. The futures market has recorded frequent buy-side spikes, indicating that traders have been buying BTC aggressively. Since BTC touched $112,000, spot traders have been selling, while futures investors have been buying. Funding for the spot market has remained low and even became negative at some point. As a result, this bitcoin rally has been fueled more by leverage than spot demand. Futures traders have been buying more; however, the market has witnessed little confirmation from spot investors. Notably, Glassnode said low funding is a sign that positioning is not yet crowded. Unfortunately, this shows a structurally fragile setup, which can only get better if spot interest returns. No Signs of Overheating Yet Glassnode’s analysis suggests there is no strong structural backing to support this rally. However, the Bitcoin market is yet to see any signs of overheating, meaning that there is still room for additional growth. The market appears steady, alongside metrics like the Unspent Transaction Output (UTXO) and Short-term holder Spent Output Profit Ratio (SOPR). Others, like the Market Value to Realized Value (MVRV) and Miner Position Index (MPI), also signal that sell-side activity is muted. These indicators suggest that investors are cautiously optimistic and not eager to offload their assets. While the market awaits bitcoin’s next move, there is a surge in open interest, with long positions dominating. This comes after shorts have been wiped out , with liquidations running close to $1 billion. The post Is the BTC Rally Driven by Spot or Leveraged Demand? Glassnode Weighs In appeared first on CryptoPotato .