Executive brief
The digital asset market has entered a period of intense volatility as macro-economic shifts and institutional milestones collide. Bitcoin briefly slipped below the $65,000 level over the weekend, bottoming near $64,270 before staging a recovery toward $66,000. This price action was largely triggered by uncertainty surrounding US tariff policy, with President Donald Trump bypassing a Supreme Court ruling to impose a 15% global import surcharge. The move has reignited concerns over inflation and real yields, forcing a deleveraging event that saw $61 million in long positions liquidated on a single exchange.
Despite the immediate pressure, corporate conviction remains robust. Michael Saylor’s Strategy logged its 100th bitcoin purchase, adding 592 coins for $39.8m. This contrasts with a significant pivot in the mining sector, where Bitdeer sold its entire 1,132.9 BTC treasury to fund a transition into AI data centres and high-performance computing. Meanwhile, a major regulatory milestone was achieved as Crypto.com received conditional approval for a federally regulated national trust bank charter, potentially consolidating custody services under federal oversight.
Directional cues suggest a fragile base-building phase as markets digest the return of trade war volatility. A primary risk remains the ongoing outflow streak from Bitcoin ETFs, which have shed $3.8b over five weeks. However, the surge in US search interest to 5-year highs indicates that retail attention is returning. This could offer a contrarian opportunity if macro conditions stabilise, even as BitMine Immersion continues its massive ether accumulation despite unrealised losses exceeding $8b.
1) Top 20 news headlines
- Strategy logs 100th bitcoin purchase announcement; added 592 coins for $39.8m to reach a total holding of 717,722 BTC.
- Crypto.com approved for U.S. federally regulated crypto custodian bank; conditional OCC approval for a national trust charter will consolidate custody services under federal oversight.
- Bitdeer sold all its bitcoin to fund move into AI data centres; the miner liquidated its entire treasury of 1,132.9 BTC to build liquidity for AI expansion.
- Bitcoin ETFs bleed $3.8 billion in five-week outflow streak; outflows underscore persistent institutional wariness with year-to-date exits reaching $4.5b.
- BitMine Immersion added $98 million of ether last week; firm now holds 4.42 million ETH, controlling roughly 3.66 percent of total supply.
- Solana Company starts building high-speed infrastructure in APAC; initiative targets institutional demand with execution services across Seoul, Tokyo, and Singapore.
- Trump-linked stablecoin wobbles under coordinated attack; USD1 token briefly fell to $0.994, dipping 0.6 percent below its $1 peg.
- KuCoin told to halt new EU business over compliance shortfalls; Austrian regulator cites a lack of anti-money-laundering and sanctions compliance officers.
- Stablecoins may generate $1 trillion in T-bill demand by 2028; Standard Chartered predicts market caps will reach $2 trillion in the next two years.
- Based raises $11.5 million in Pantera-led round; the Hyperliquid-powered crypto app will use capital to build onchain financial infrastructure.
- $61 million bitcoin whale liquidated on HTX; largest single forced closure in 24 hours as sentiment returns to extreme fear.
- Backpack to offer users access to 20% company equity; users staking tokens for one year can exchange them for corporate shares.
- Vitalik Buterin accelerates ether sales as prices slide; sales are part of a broader plan to fund ecosystem development initiatives.
- SBI Holdings confirms XRP Ledger use in financial services; firm launched 10 billion yen blockchain-based bond for individual investors.
- Missouri advances bitcoin reserve bill to committee; HB 2080 seeks to create a Strategic Reserve Fund inside the state treasury.
- Bitcoin search interest hits 5-year high in the US; attention rebounds to 2021 levels despite price sitting 50 percent below October peaks.
- Bitcoin balances on Binance hit highest level since 2024; user holdings in exchange-linked wallets see significant climb.
- Trump Board of Peace eyes stablecoin for Gaza; preliminary talks involve a dollar-backed digital currency to rebuild the shattered economy.
- Trump venture building tokenized debt pipeline; World Liberty Financial plans to tokenize loan-revenue interests tied to Maldives resort.
- Cardano enters SEC fast lane for spot ETF; CME Cardano futures launch starts a six-month eligibility clock ending 9 August 2026.
2) BTC and ETH ETF flows
| Metric | BTC | ETH |
|---|---|---|
| Net inflow | $88,042,243.60 | $17,211.38 |
| Value traded | $3,699,449,398.97 | $766,910,749.30 |
| Net assets | $85,313,411,547.10 | $11,141,305,755.91 |
| Cumulative net inflow | $54,012,884,153.41 | $11,524,489,201.49 |
3) X trending news
- Trump increases global tariffs to 15%; President moves policy surcharge from 10% to 15%, bypassing Supreme Court restrictions.
- Bitcoin falls below $65,000; nearly $230 million worth of levered longs liquidated in 60 minutes as volatility returns.
- Strategy buys 592 Bitcoin; Michael Saylor company acquires $40 million in additional BTC.
- Gold futures surge above $5,200; metal reclaims historic highs as US-Iran tensions escalate.
- Senate Democrats to block tariffs; Majority Leader Schumer says the party will oppose Trump’s proposed global tariff extensions.
- Gaza stablecoin proposal; Trump-linked officials are reportedly considering a dollar-backed asset for regional reconstruction.