Bitcoin’s institutional support weakened as ETFs and companies dumped almost 2,000 BTC daily and Strategy’s buying lost momentum. Bitcoin (BTC) faced renewed risks of a breakdown toward $30,000, according to a new analysis, as institutional demand turned deeply negative. Key takeaways: Capriole Investments’ institutional buying model, which tracks Bitcoin demand from ETFs, corporate treasuries, and miner issuance, shows net institutional selling at around 450% of daily mined supply, equivalent to about 2,000 BTC per day. Read more
Trad.Fi plans to bring up to $650 million in equipment-finance credit onchain, targeting a trillion-dollar US market still dominated by paperwork. US-based equipment finance platform Trad.Fi announced plans to bring up to $650 million in private credit onchain over the next 48 months. The initiative targets one of the largest and least digitized credit markets in the US, the trillion-dollar industry funding manufacturing equipment, industrial systems and residential solar installations, according to an announcement shared with Cointelegraph. Trad.Fi said the $650 million is not deployed capital but a credit pipeline that will be minted onchain, backed by committed senior credit facilities and signed Letters of Intent from anchor borrowers. The company said it currently has about $85 million in signed term sheets and about $40 million expected to close imminently. Read more
The Spiderchain developer told users to withdraw assets by July 9 after concluding demand for Bitcoin-native DeFi was not sufficient to support the network. Botanix, a Bitcoin scaling network that set out to bring “real utility” to BTC without token incentives, is winding down after four years in operation. In a Tuesday post on X, Botanix told users to withdraw all Bitcoin and other assets by July 9, after which remaining assets will be swept and “be unrecoverable.” The decision comes despite integrations with major crypto infrastructure providers, including Chainlink, Fireblocks and Galaxy, and the launch of a consumer-facing Bitcoin neobank app. Read more