Bitcoin saw a key rejection at local highs before reversing lower, moving with stocks for a second day as US-Iran war downside took its toll. Bitcoin (BTC) dipped below $62,500 at Friday’s Wall Street open as stocks took a fresh hit from the US-Iran war. Key points: Read more
Bitcoin supply in loss hit 50% nearly 50 days ago, mimicking the countdown to BTC price bear-market bottoms. Bitcoin (BTC) has been counting down to its next bottom for nearly two months, a classic onchain metric suggests. Key points: Read more
“Over time the economic incentives will drive $DOG Mode’s adoption and force Bitcoin Core to stop gatekeeping and allow these completely valid transactions,” said Leonidas. Bitcoin Ordinals developer Leonidas has proposed developing a new open-source Bitcoin client, aimed at removing restrictions affecting Runes and Ordinals transactions. In a post to X on Friday, Leonidas called the proposed client “Bitcoin $DOG Mode,” which would lift the maximum individual transaction size to 3.9 million weight units (WU), compared to Bitcoin Core’s 400,000 WU, and lower the dust limit to 1 satoshi (sats) from 294-546 sats. The changes would make it easier to send Ordinals inscriptions and Runes, which have been described as Bitcoin’s take on fungible and non-fungible tokens. Both have been controversial within the Bitcoin community, with critics arguing they amount to “spam” on the Bitcoin network. Read more
Bitcoin futures traders are propping up the current market move, while liquidation heatmap data provides hints on where BTC price may go next. Increased activity across Bitcoin’s (BTC) futures markets is playing the dominant role in its short-term price action, which keeps tracing back to where leveraged positions are stacked. Prices tend to gravitate toward where liquidity is most concentrated, and as Bitcoin battles to hold above $64,000, reviewing current liquidation scenarios may provide insight into BTC’s next move. Liquidation heatmap data shows a cluster of short positions concentrated between $65,500 and $66,000, roughly 3% away from current market pricing. A push through $65,600 may put that shelf in play and could accelerate a larger rally toward $67,000. Below market pricing, support is layered in the $63,500 to $63,750 range, with the closest cluster 1% away, and larger liquidity pools are found at $63,000-$63,250 (about 1.5% down) and $62,500-$62,750 (about 2.3% down). Read more
Bitcoin buyers have returned to spot, futures and ETF markets but geopolitical headwinds could quickly unravel the progress of the past two weeks. Bitcoin (BTC) spent the week split across two scenarios. One highlighted improving onchain buying pressure and ETF inflows, while the other remained synced to sentiment gauges and news events that projected fear. The spot and futures cumulative volume delta, a running tally of buy and sell orders, confirmed a $925 million net buying day for Bitcoin on July 15. This orderbook activity absorbed the entire post-CPI pullback in open interest and price rather than collapsing into it. Meanwhile, the spot Bitcoin ETFs added $107.7 million in net inflows on July 15, marking the second consecutive positive day following $181 million on July 14. Read more
Bitcoin fell 1.5% from local highs amid a reversal in US stocks as markets moved from bullish US inflation cues to retail profit-taking. Bitcoin (BTC) cooled off with US stocks on Thursday as tech selling tempered gains from low inflation. Key points: Read more
Bitcoin realized losses appeared to be copying a reversal structure that marked previous bear-market bottoms, with $69,000 a new BTC price battleground. Bitcoin (BTC) “cycle peak buyers” could already be pointing the way to the next bear-market bottom. Key points: Read more