Category: Cryptocurrency News

Bitcoin continues to hover below its all-time high, with current trading levels near $118,000 reflecting a 0.6% daily drop and a 3.8% pullback from the peak above $123,000 recorded earlier this month. While the broader trend remains uncertain, analysts have assessed on-chain activity for signs of the next major move. Recent data from CryptoQuant analysts highlights a divide between retail and institutional behavior across leading exchanges, raising questions about potential profit-taking or strategic accumulation. Related Reading: Bitcoin Must Defend This Key Support For $180,000 Year-End Target, Analyst Says Bitcoin Retail Traders Sell into Strength, While Whales Accumulate On the one hand, short-term holder (STH) behavior on Binance suggests some market participants are opting to take profits following the asset’s strong rally. On the other hand, Kraken has recorded a sharp outflow of Bitcoin, a movement typically associated with whale activity or long-term accumulation. This contrasting activity across platforms suggests a split in market sentiment, with retail traders potentially trimming their exposure and larger players preparing for sustained upside. According to CryptoQuant analyst Amr Taha, the Binance Exchange Inflow Ratio for Short-Term Holders recently crossed the 0.4 level, historically linked to increased retail selling pressure. These STHs, who typically hold Bitcoin for fewer than 155 days, tend to deposit funds to exchanges during periods of price strength to lock in gains. The spike above this threshold may indicate a growing tendency among retail investors to exit positions in anticipation of volatility. In contrast, the same analysis pointed to significant outflows from Kraken, with over 9,600 BTC withdrawn on July 22, one of the highest single-day outflows seen in recent months. Taha interpreted this as a potential signal of whale accumulation, with institutional or high-net-worth participants removing assets from exchange custody, often in preparation for long-term storage. This divergence in behavior between Binance and Kraken highlights the differing strategies employed by market segments, with retail users leaning toward short-term positioning and whales opting for long-term accumulation. Binance Reserve Trends Highlight Strengthening Profit Margins Adding another layer to the evolving market picture, CryptoQuant analyst Darkfost shared that Binance’s unrealized profit on its Bitcoin reserves has hit an all-time high of approximately 60,000 BTC. This figure has grown despite a gradual decline in total BTC reserves held on the platform, which have fallen from 631,000 BTC in September 2024 to 574,000 BTC as of now. A portion of these holdings, around 16,000 BTC, is locked in custodial wallets to back the BTCB token on the BNB Chain, serving operational purposes. Darkfost emphasized that decreasing exchange reserves are often interpreted as a sign of investor confidence, reflecting a preference to store Bitcoin in personal wallets rather than leaving it on centralized platforms. Related Reading: Trump Media’s $2 Billion Bitcoin Buy Sparks Surge In Stock Price The rise in unrealized profit amid falling reserves may indicate that while outflows persist, the remaining holdings have appreciated significantly in value, highlighting the platform’s strengthened position. Featured image created with DALL-E, Chart from TradingView

Bitcoin continues to hover below its all-time high, with current trading levels near $118,000 reflecting a 0.6% daily drop and a 3.8% pullback from the peak above $123,000 recorded earlier this month. While the broader trend remains uncertain, analysts have assessed on-chain activity for signs of the next major move. Recent data from CryptoQuant analysts highlights a divide between retail and institutional behavior across leading exchanges, raising questions about potential profit-taking or strategic accumulation. Related Reading: Bitcoin Must Defend This Key Support For $180,000 Year-End Target, Analyst Says Bitcoin Retail Traders Sell into Strength, While Whales Accumulate On the one hand, short-term holder (STH) behavior on Binance suggests some market participants are opting to take profits following the asset’s strong rally. On the other hand, Kraken has recorded a sharp outflow of Bitcoin, a movement typically associated with whale activity or long-term accumulation. This contrasting activity across platforms suggests a split in market sentiment, with retail traders potentially trimming their exposure and larger players preparing for sustained upside. According to CryptoQuant analyst Amr Taha, the Binance Exchange Inflow Ratio for Short-Term Holders recently crossed the 0.4 level, historically linked to increased retail selling pressure. These STHs, who typically hold Bitcoin for fewer than 155 days, tend to deposit funds to exchanges during periods of price strength to lock in gains. The spike above this threshold may indicate a growing tendency among retail investors to exit positions in anticipation of volatility. In contrast, the same analysis pointed to significant outflows from Kraken, with over 9,600 BTC withdrawn on July 22, one of the highest single-day outflows seen in recent months. Taha interpreted this as a potential signal of whale accumulation, with institutional or high-net-worth participants removing assets from exchange custody, often in preparation for long-term storage. This divergence in behavior between Binance and Kraken highlights the differing strategies employed by market segments, with retail users leaning toward short-term positioning and whales opting for long-term accumulation. Binance Reserve Trends Highlight Strengthening Profit Margins Adding another layer to the evolving market picture, CryptoQuant analyst Darkfost shared that Binance’s unrealized profit on its Bitcoin reserves has hit an all-time high of approximately 60,000 BTC. This figure has grown despite a gradual decline in total BTC reserves held on the platform, which have fallen from 631,000 BTC in September 2024 to 574,000 BTC as of now. A portion of these holdings, around 16,000 BTC, is locked in custodial wallets to back the BTCB token on the BNB Chain, serving operational purposes. Darkfost emphasized that decreasing exchange reserves are often interpreted as a sign of investor confidence, reflecting a preference to store Bitcoin in personal wallets rather than leaving it on centralized platforms. Related Reading: Trump Media’s $2 Billion Bitcoin Buy Sparks Surge In Stock Price The rise in unrealized profit amid falling reserves may indicate that while outflows persist, the remaining holdings have appreciated significantly in value, highlighting the platform’s strengthened position. Featured image created with DALL-E, Chart from TradingView

Key Takeaways: The U.S. government will release a long-awaited 180-day crypto policy report on July 30. The report may include guidance on stablecoins, custody, CBDCs, and token classifications. Leaked details suggest a plan for a Strategic Bitcoin Reserve using nearly 200,000 seized BTC. A seismic shift in U.S. crypto policy is just days away. On…
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An amended lawsuit accused Pump.fun and key Solana partners of operating an unlicensed digital casino that funneled billions through deceptive memecoin schemes.

Wealthy crypto investors are attracted to golden visa programs thanks to their residency and tax benefits, but their list of options is getting shorter.

Former U.S. President Barack Obama was recently accused of colluding with members of his administration to fabricate what has been termed Russiagate, following a report alleging that Russia was involved in meddling with the 2016 presidential election. Prediction markets are already wagering on the possibility of his indictment. Polymarket Degens Believe Obama Won’t Be Indicted […]

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Jack Dorsey’s Block, Inc. (NYSE: XYZ) has announced the initiation of onboarding for its first few sellers on Square to facilitate a new native bitcoin acceptance experience. In a social media post, the company’s executive officer expressed enthusiasm for this development, stating, “boom. today we’re onboarding our first few Square sellers for the new native […]

Spot Ether ETFs went live on the US market one year ago, have taken in nearly $8.7 million in net inflows and now wield over $16.6 billion in assets.

On-chain data shows the XRP whales have transferred significant amounts in the asset during the past day. Here’s where the coins are heading. XRP Whales Have Just Made Two Large Transactions According to data from cryptocurrency transaction tracker service Whale Alert, two massive transfers have been spotted on the XRP blockchain in the last 24 hours. Both of these moves were of a scale that can be associated to the whales, entities that carry significant amounts in their wallets. Due to their size, these investors can hold some degree of influence on the network, so their transfers can be worth keeping an eye on. They may not always directly affect the asset, but they can still sometimes be revealing about the sentiment among the cohort. Related Reading: XRP Breaks Out Of Bull Pennant—Is $15 Now In Sight? That said, it’s only possible to speculate on transactions when they involve at least one wallet that’s identifiable. Cryptocurrency networks are, after all, anonymous by nature, so a lot of transfers don’t hold any meaningful information. The older of the two XRP whale transfers from the past day, which also happens to be the much more massive of the two, was unfortunately of the type with no known addresses. As is visible above, the transfer involved around 200 million XRP, worth a whopping $700.6 million at the time that the move was executed on the blockchain. The transaction occurred between two unknown wallets, meaning that they were likely to have been self-custodial addresses. As mentioned before, it’s hard to infer anything from moves like these, as they can have any underlying reason, ranging from something as simple as a change of wallets to a peer-to-peer (P2P) sale. The second whale transfer for the day, however, was different. Below are the details associated with this move. This transaction, which saw the movement of 16.8 million tokens of the asset (about $58.3 million), had an unknown wallet as the sender, but on its receiving end was an address associated with cryptocurrency exchange Coinbase. Moves of this type, where coins flow from a self-custodial wallet to a centralize exchange, are called Exchange Inflows. Generally, holders deposit their coins to these platforms when they want to make use of one of the services that they provide, which can include selling. As such, Exchange Inflows can sometimes prove to be bearish for the cryptocurrency’s price. Related Reading: Solana Becomes The Talk Of Social Media As Price Hits $200 Given that the whale has made this transaction following a surge in XRP, it’s possible that profit-taking may have been the motive behind it. XRP Price At the time of writing, XRP is trading around $3.27, up over 9% in the last week. Featured image from Dall-E, whale-alert.io, chart from TradingView.com