- Bitcoin rises to $63,141 as total crypto market cap climbs to $2.19 trillion.
- Exchange deposits near 49,000 BTC signal rising volatility, CryptoQuant warns.
- Whales accumulate 270,000 BTC even as US spot Bitcoin ETFs post record outflows.
Bitcoin traded near $63,141, up 0.69% over the past 24 hours and holding a 5.44% weekly gain, while Ethereum outperformed with a 12.45% rise over the past week to trade around $1,775. XRP held near $1.14, up more than 9% for the week, and Solana traded at $80.58, up nearly 11% over seven days.
Total crypto market capitalization stood at $2.19 trillion, up 0.76% over the past day. Sentiment improved modestly, with the Fear & Greed Index at 28, still in “fear” territory but rising, while the Altcoin Season Index climbed to 53.
Bitcoin rebounded from recent lows even as the AI semiconductor sector cooled sharply, with the DRAM ETF down roughly 25% from its mid-June high and the SMH off about 12%.
On-chain data showed a divergence. While institutional funds pulled a record amount of capital from spot Bitcoin ETFs, whales and long-term holders accumulated more than 270,000 BTC, worth roughly $16.7 billion, over the past two weeks. The pattern echoes capital redistribution seen near past cycle bottoms, even as the spot premium stayed negative.
Bottom-Signal Indicators Flash Historic Extremes
The Bitcoin Miner Cyclical Pressure Composite Index fell to a 2026 low, entering territory it has only reached near major cycle bottoms in 2015, 2018, 2020, 2022 and 2024. The index’s only prior reading this low came during the 2015 capitulation, when Bitcoin fell from about $300 to $160 in a week.
Separately, CryptoQuant analyst Darkfost revealed Bitcoin’s Sharpe ratio briefly dropped below -20 before recovering slightly, consistent with a third straight quarterly decline of 16.1%. Historically, comparably extreme pessimism has preceded bottom-building phases lasting weeks to months.
Leveraged Traders Face Mounting Pressure
Crypto trader Huang Li-cheng, known as “Machi Big Brother,” deposited $10,000 in USDC to Binance after earlier moving smaller sums to Hyperliquid, prompting speculation over whether he is reducing risk exposure. His 25x leveraged long on roughly 9,000 ETH showed an unrealized gain of about $353,000, but sat only $28 from its liquidation price near $1,732.
The “Garrett Jin whale entity” added to a ZEC short taken nine days earlier, bringing the position to $15.08 million with an unrealized loss of $530,000, while its separate BTC long position saw losses narrow to $16 million after Bitcoin’s recent rebound. Trader 0x8853 deposited nearly $172,000 into Hyperliquid before opening a 15x leveraged BTC short, which was already sitting on a small unrealized loss.
Clarity Act Deadline Slips as Ethics Dispute Continues
The Clarity Act failed to reach Trump’s desk by July 4 as staffers worked to reconcile differing Senate Agriculture and Banking Committee versions. Senators Gallego and Alsobrooks have said they will not back the bill until it restricts officials from profiting off crypto, a position reinforced by disclosures showing Trump earned roughly $1.4 billion from crypto ventures in 2025. The Senate’s August 7 recess is now viewed as the key deadline, with House procedural issues and Trump’s willingness to sign both still unresolved.
Meme Coin Enthusiasm Continues to Fade
CryptoQuant data showed meme coins now make up just 3.7% of total altcoin market capitalization, down from more than 10% in November 2024, with holder counts at a three-year low. Capital has shifted toward AI, RWA, and DeFi tokens; RWA tokens alone now exceed $64 billion in combined market cap.
A New York Times review of Nansen data found nearly one million TRUMP token investors have lost a combined $3.81 billion, with the token down 97% from its peak, even as roughly 500,000 early wallets profited by about $4 billion. Trump personally earned $636 million from the token.
Institutional and Corporate Developments
Bloomberg’s Eric Balchunas described June as a record-setting month for US ETFs, with $191 billion in net inflows, 214 new fund launches, and $7 trillion in trading volume. Cisco unveiled its Nexus One data center architecture built for AI workloads, while AI investment platform LinqAlpha closed a $22 million Series A round.
Several major tokens face large unlocks next week, led by Pump.fun’s roughly $125 million unlock on July 12, alongside scheduled unlocks for HYPE, APT, RedStone, Movement, Linea, and io.net.
Related: Top RWA Tokens Leading the Charge in July 2026
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