
More Bitcoin Is Held at a Loss Than in Profit for the First Time
On-chain data on July 3 put 10.83M BTC below their last traded price against 9.22M above it, the first such crossover this cycle, with bitcoin near $62,000.
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On-chain data on July 3 put 10.83M BTC below their last traded price against 9.22M above it, the first such crossover this cycle, with bitcoin near $62,000.

Memecore's M gained 81% on July 2 and TAIKO roughly doubled to $0.38 as the layer-2 reopened the cross-chain bridge it froze after June's $1.7M exploit.

Bitcoin rose 4% to $61,200 and the CoinDesk 20 gained 4.77%, with open interest and funding rates turning in a way June's brief rallies never did.

Securitize began trading on the NYSE as SECZ on July 2, a day after closing a roughly $400M SPAC merger with Cantor Equity Partners II.

Bitcoin bottomed at $57,735 on the first day of July, then a spot buying surge carried it back above $60,000, closing a first half down about 30%.

Stablecoin supply fell $7.7 billion in June to about $312 billion, the first monthly contraction in five months, while adjusted transfer volume set a record $1.79 trillion. Supply down and usage up is the month's central puzzle.

Strategy's board authorized the sale of up to $1.25 billion of bitcoin, two days after its mNAV fell below 1.0 and shut off the equity-issuance model behind four years of buying. It holds more than 843,000 BTC against preferred dividends above $700 million a year.

BitMine added 27,084 ETH to reach 5.7 million, about 4.7% of supply, and SharpLink bought 39,196, while FG Nexus sold again with realised losses above $86.8 million. Ether was near $1,550.

Bitcoin traded down to about $58,000 on Thursday, its lowest level since September 2024, before recovering to roughly $59,460. US spot bitcoin ETFs shed $696.3 million, the month's largest single-day outflow, with about $10 billion of options due to expire the next day.

US spot bitcoin ETFs shed $469.1 million on Wednesday after $113.8 million on Tuesday, ending a brief lull, as bitcoin fell to a two-week low and the dollar hit a seven-month high.

The $1.7 trillion manager closed its 250 Digital acquisition and opened a crypto division under Christopher Perkins. Terms were not disclosed.

The Fed held its benchmark rate at 3.50%-3.75% in Kevin Warsh's first meeting as chair, but nine of eighteen officials now project at least one hike by year-end, against none in March. Bitcoin fell to $64,800 before steadying near $65,300.