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One crypto analyst suggests that Bitcoin long positions may "become viable" once the long-term seller supply increases again.
Bitcoin dropped by 9.7% and ether declined by 14.7% as Trump initiated a trade war with tariffs on Canadian and Mexican imports coming into effect on Tuesday. An analyst stated that Trump's stringent tariff measures have "further fueled risk-off sentiment."
President Trump's announcement regarding a U.S. Crypto Strategic Reserve sent prices soaring across the crypto industry, boosting the total industry market cap by nearly 20% since its recent lows on Friday. Cardano, XRP, Trump's memecoin, and Solana were the best performing coins over the past 24 hours; BNB rose the least out of the top 10 cryptocurrencies by market cap.
US spot bitcoin ETFs experienced a total daily net outflow of $1 billion, excluding flow data from Ark Invest’s ARKB. During their six-day streak of negative flows, these ETFs saw over $2 billion withdrawn from the products. Analysts suggested that the rebalancing of institutional investors’ positions in the ETFs might have contributed to the record-high outflows.
The sentiment in the crypto market plummeted to "Extreme Fear" following US President Donald Trump's announcement that 25% tariffs against Canada and Mexico are proceeding as planned.
Bitcoin traders are concerned about a return to the lower end of the BTC price range as market inertia allows bears to maintain control approaching the monthly close.
Bitcoin is finally exhibiting behaviour similar to stocks and gold, approaching near all-time highs as BTC price action resumes.
Bitcoin is mirroring gold's price growth path, increasing the likelihood of achieving price targets exceeding $300,000.
World Liberty Financial utilised its USDC reserves to acquire $1.4 million in MOVE and $5 million in wrapped BTC. Additionally, it staked 2,221 ETH with Lido Finance and deposited 5 million USDC into Aave’s lending protocol.
- 12:52Multiple Regions Warn of Illegal Fundraising Risks in Virtual CurrenciesOdaily Planet Daily News: Recently, the collapse of the "Xinkangjia" Ponzi scheme, which claimed to offer a "2% daily interest" and involved tens of billions of yuan, has drawn widespread attention and heightened vigilance across society regarding new forms of online fraud. Regulatory authorities have issued frequent warnings. According to incomplete statistics, since July, financial regulators in multiple regions—including Guangdong, Yunnan, Hunan, Liaoning, Heilongjiang, Zhejiang, and Fujian—have intensively cautioned the public about the risks of illegal fundraising and new types of online scams under the guise of "virtual currency." (Yicai Global)
- 12:26Next week will see major token unlocks for AVAIL, VENOM, ALT, and othersAccording to Jinse Finance, data from Token Unlocks shows that tokens such as AVAIL, VENOM, and ALT will undergo significant unlocks next week (all times in UTC+8). Specifically: Avail (AVAIL) will unlock approximately 972 million tokens at 4:00 PM on July 23, accounting for 38.23% of the current circulating supply, valued at around $18.9 million; Venom (VENOM) will unlock about 59.26 million tokens at 4:00 PM on July 25, representing 2.84% of the current circulating supply, valued at approximately $13.4 million; AltLayer (ALT) will unlock around 240 million tokens at 6:00 PM on July 25, making up 6.39% of the current circulating supply, valued at about $8.9 million; Sahara AI (SAHARA) will unlock roughly 84.27 million tokens at 8:00 PM on July 26, which is 4.13% of the current circulating supply, valued at around $6.9 million; SOON (SOON) will unlock about 41.88 million tokens at 4:30 PM on July 23, accounting for 22.41% of the current circulating supply, valued at approximately $6.1 million.
- 12:23Michael Saylor Shares Bitcoin Tracker Update Again, Hinting at Continued Bitcoin Accumulation by StrategyAccording to ChainCatcher, Strategy Executive Chairman Michael Saylor shared information about the Bitcoin Tracker on the X platform, accompanied by the caption, "Stay humble, stack sats" (referring to the smallest unit of Bitcoin). Historical data shows that after Saylor posts such information, he often discloses the company's increased Bitcoin holdings the following day.