- Bitcoin holds near $63,949 as total crypto market cap rises to $2.19 trillion.
- Bitcoin ETFs post $132M inflow, a fourth straight day, led by BlackRock’s IBIT.
- Iran claims strike on US base in Syria as Strait of Hormuz tensions escalate.
Bitcoin traded near $63,949, roughly flat over the past 24 hours and little changed for the week, while Ethereum held around $1,844, also close to flat. XRP traded near $1.08, Solana stood at $75.25, and Hyperliquid’s HYPE token eased to $59.50.
Total crypto market capitalization stood at $2.19 trillion, up 0.32% over the past day. The Fear & Greed Index read 34, still in “fear” territory, while the Altcoin Season Index climbed to 54.
ARK Invest’s Q2 Bitcoin report showed the asset fell about 14% during the quarter, but long-term holders continued accumulating, pushing their combined position to a record 14.85 million BTC. Bitcoin’s supply in loss surpassed supply in profit for the first time this cycle, a pattern ARK said has historically clustered near market bottoms.
ETF Flows Turn Positive Across Bitcoin and Ethereum
Bitcoin spot ETFs recorded $132 million in net inflows, marking a fourth consecutive day of gains, led by BlackRock’s IBIT with $136 million, bringing its historical total to $60.49 billion. Ethereum spot ETFs added $36.7 million, with ETHA again leading at $31.7 million. HYPE spot ETFs bucked the trend, posting a $5.45 million net outflow led by Bitwise’s BHYP.
Trending Searches Lean Toward ADI and Established Names
ADI led trending searches despite falling 6.9% over 24 hours, followed by Pudgy Penguins, down 1.5%, and Hyperliquid, down 1.1% on the day even.. The mix suggests search interest remained split between speculative smaller tokens and established majors during a choppy session.
Middle East Tensions Escalate Further
Iran’s Revolutionary Guard said it struck a US special operations command center at the al-Tanf base in Syria, claiming the attack destroyed radar systems and helicopters and caused American casualties, while reiterating that no oil would flow through the Strait of Hormuz as long as US actions continue. Separately, Iranian officials reported the oil tanker Berma was struck again by US missiles while anchored at Kharg Island.
AI Sector Selloff Ripples Into Markets
Chinese startup Moonshot’s release of its Kimi K3 model, which claims to outperform Anthropic’s Opus 4.8 on some benchmarks, triggered a sharp selloff in AI-linked equities. The Philadelphia Semiconductor Index fell more than 5%, with AMD down over 7% and Intel and TSMC each dropping more than 5% to 6%. SpaceX shares fell 38% from their peak, erasing nearly $1 trillion in market value, while Apple overtook Nvidia as the world’s most valuable company.
US crypto-linked stocks also fell sharply, with Robinhood down more than 5% and Coinbase off nearly 2%.
Related: Visa Unveils Stablecoin Platform to Expand Blockchain Payments
Institutional and Corporate Developments
Bank of America named Sonali Theisen to head its Global Digital Asset Platform and promoted Adam Dixon to lead digital asset transformation, covering tokenized deposits and stablecoins. HSBC became the first institution approved to go live in the UK’s Digital Securities Sandbox, supporting digital gilt and corporate bond issuance through its HSBC Orion platform.
FTX confirmed its fifth creditor distribution of approximately $900 million will begin July 31, alongside a second payment to preferred shareholders. Nigeria’s president signed an executive order establishing a central bank-led committee to oversee virtual asset regulation nationwide.
Security and Regulatory Notes
Dutch prosecutors confirmed crypto platform Knaken has been declared bankrupt after roughly €7 million in customer assets went unaccounted for, with a criminal investigation now underway. Security researchers also disclosed new macOS malware capable of bypassing Telegram two-factor authentication to steal crypto wallet data from apps including Exodus, Atomic, and Electrum.
Related: Galaxy Digital Lands $70M Texas Tech Stadium Deal, Expands AI and Crypto Presence
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