Bitcoin gets an early macro tailwind as the US seals trade deals, but plenty of BTC price volatility catalysts are waiting in the wings into August. Bitcoin (BTC) heads into the July monthly close eyeing $120,000 as a BTC price rebound holds firm. BTC price action is giving market participants cause to expect all-time highs again, but the threat of a $113,000 comedown remains. A giant week of US macro data combines with the Fed meeting on interest rates amid pressure on Chair Jerome Powell. Read more
A group of Senate Democrats has probed Federal Housing Finance Agency director William Pulte over his order to propose how to consider crypto in mortgage applications. Five US Senate Democrats have probed the head of the country’s housing finance agency over his plan to consider how crypto can be counted in the approval process for certain mortgages. The senators, led by Jeff Merkley, sent a letter to Federal Housing Finance Agency (FHFA) director William Pulte on Friday asking him to explain his plan “to fully assess the potential risks and benefits of your order and its implications for the U.S. housing market and financial system.” Senators Elizabeth Warren, Chris Van Hollen, Mazie Hirono and Bernie Sanders also co-signed the letter, which asks Pulte for a response by Aug. 7. Read more
SharpLink’s purchase of 77,210 ETH comes days after the online technology company appointed BlackRock veteran Joseph Chalom as its new co-CEO. SharpLink Gaming, the second-largest corporate holder of Ether, has acquired another 77,210 Ether, worth $295 million, as the firm shows no signs of slowing down its crypto treasury play. The single purchase is more than the network’s net issuance of Ether in the past 30 days, which stood at 72,795 ETH, according to Ultra Sound Money. The company staked most of the acquired ETH to earn staking rewards. After the recent acquisition of ETH, the company’s total ETH holdings exceed 438,000 ETH, which is worth more than $1.69 billion, according to Lookonchain. Read more
Solana co-founder Anatoly Yakovenko ignited criticism from the crypto community by likening memecoins to loot boxes in mobile games. Solana co-founder Anatoly Yakovenko has sparked controversy after referring to memecoins and non-fungible tokens as “digital slop,” despite Solana’s substantial memecoin-driven revenue. “I’ve said this for years. Memecoins and NFTs are digital slop and have no intrinsic value,” Yakovenko said in a X post on Sunday while comparing the crypto tokens to loot boxes in free-to-play mobile games. Yakovenko’s comment came during a debate with Base creator Jesse Pollak over whether memecoins and NFTs have fundamental value, and if so, where that value lies. Read more
Bitcoin suddenly ups the volatility into Sunday's weekly close, with key liquidation zones on the radar and predictions of bigger BTC "price swings" to come. Key points: Bitcoin stages a late comeback into the weekly close as price approaches important liquidation zones. Traders and analysts emphasize various key price points to reclaim next. Read more
As gold hits record highs amid economic uncertainty, Tether Gold (XAUt) sees continued growth, mirroring institutional and central bank demand for the metal. A volatile macroeconomic landscape has sparked a new gold rush among institutional investors and central banks, with gold bullion hitting record highs this year — a trend that has also extended to Tether’s gold-backed digital token. By the end of the second quarter, Tether Gold (XAUt) — a tokenized commodity offering direct exposure to physical bullion — was backed by 7.66 tons of fine troy ounces of gold, according to the company’s latest attestation report, verified by BDO Italia. This reserve supports over 259,000 XAUt tokens in circulation, giving the asset a total market capitalization exceeding $800 million. Read more