Crypto Industry News & Market Trends

1kx, Blockchain Capital back $7.5 million KOR Protocol Series A at $100 million valuation

Quick TakeKOR Protocol is building an onchain clearinghouse that helps register and route creative works and provide programmable payments to creators and rights holders when licensed work is used.1kx and Blockchain Capital were named investors in the $7.5 million Series A at a $100 million valuation.　　Entertainment-focused KOR Protocol has raised a $7.5 million Series A funding round with participation from 1kx, Blockchain Capital, and others at a $100 million valuation, according to an announcement shared with The Block.　　KOR Protocol describes itself as an onchain creative asset clearinghouse built on Coinbases Layer 2 blockchain that provides infrastructure to help verify, route and settle creative works, like music and movies.　　By registering these assets onchain, KOR argues they can be better matched “with the right labels, agencies, MCNs, brands, curators and platforms.” Moreover, using stablecoins like USDC can help with payments, including “programmable splits across the people and partners involved.”　　“As both an artist and an operator, I know how difficult it is to translate strong work and audience momentum into distribution, partnerships, and sustainable revenue,” Ritty Quin, an electronic music producer and CEO of KOR, said. “KOR is building the system that connects those pieces by helping talent get recognized earlier, reach the

07-07Industry

Hyperliquid Stays Near All-Time High, Even as Bitcoin ETFs Lose $6.5 Billion

Even as billions of dollars exit major crypto investment products, Hyperliquids HYPE token has remained resilient despite heavy withdrawals from U.S. spot bitcoin and ethereum ETFs, according to Coinshares.　　Key TakeawaysU.S. spot bitcoin ETFs have recorded eight consecutive weeks of outflows, with more than $6.5 billion leaving since May, while HYPE has remained resilient.Three U.S. spot HYPE ETFs give investors brokerage-accessible exposure to Hyperliquids native token.Coinshares says Hyperliquids tokenomics are resonating with investors as platform fees support systematic HYPE buybacks.　　Why Is Hyperliquid Defying Broader Crypto Market Weakness？　　Cryptocurrency markets have been under sustained pressure from weak investment flows in recent weeks. Luke Nolan, senior research associate at Coinshares, said in a statement to Bitcoin.com News that crypto has received “very little help from flows recently,” highlighting continued pressure across major digital asset investment products.　　He explained that U.S. spot bitcoin ETFs have recorded eight straight weeks of outflows, the longest streak since launch. More than $6.5 billion has exited those funds since May, while ethereum ETFs have also weakened during the same period. Strategy also sold 3,588 BTC during the week to fund preferred stock distributions.　　Despite those headwinds, Hyperliquid has remained resilient, he described, adding:　　“Against these tough market conditions, Hyperliquid (HYPE) continues to

07-07Industry

Whales Open $148 Million in Leveraged Longs as Bitcoin Reclaims $64K After Strategy's 3,588 BTC Sale

Three whale wallets opened nearly $149 million in leveraged bitcoin and ether longs as BTC climbed back above $64,000, onchain tracker Lookonchain reported, just a day after Strategy disclosed its $216 million sale.　　Key TakeawaysLookonchain tracked 3 whales opening $148.7M in longs, including a 40x position on 1,000 BTC worth $63.8M.Bitcoin rebounded to $64,312 earlier today after falling to $61,246 on Strategys $216 million sale disclosure.Bernstein said BTCs 54% drawdown remains far milder than the 75%-90% declines of past cycle bottoms.　　Big Money Leans Long Into the Fear　　While much of the market was still digesting the first major bitcoin sale by Strategy Inc. (Nasdaq: MSTR), a handful of deep-pocketed traders were positioning for a bounce. Onchain analytics firm Lookonchain flagged the activity on Tuesday, writing:　　“Despite Strategy selling BTC, whales still seem bullish on the market.”　　“Despite Strategy selling BTC, whales still seem bullish on the market.”　　The firm identified three wallets making outsized bets. A wallet tagged 0x15a4 opened a 40x leveraged long on 1,000 BTC worth $63.8 million. A second address, 0x7fba, went 10x long on 30,627 ether ( ETH) valued at $54.9 million, while a third, 0xe069, opened a 20x long on 470.4 BTC worth $30 million. Together, the three positions total

07-07Industry

Strategy‘s Bitcoin sale may give BTC a ’durable bottom, Grayscale says

Strategys $216 million Bitcoin sale on Monday should be seen as a positive development for the price of Bitcoin and as a move that renews confidence in STRC, according to analysts.　　The sale of 3,588 BTC to fund preferred stock dividend payments and replenish cash has boosted Strategys dollar reserves to cover 17 months of dividend payments. “The rebound in STRC suggests investors are responding positively to this decision,” Grayscale Research said Monday.　　Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Cointelegraph that Strategys recent sale was a “smart, stabilizing move that actually strengthens the setup for Bitcoin.”　　Zach Pandl, Grayscale‘s head of research, said Strategy’s actions should “restore market confidence” in its financing structure, and may help Bitcoin‘s price “find a more durable bottom,” as it relieves the pressure of further BTC sales from Saylor’s company.　　Strategy‘s announcement that it sold Bitcoin caused the asset to drop 2.4% in a matter of hours. However, both Bitcoin and Strategy’s yield-bearing STRC product rebounded soon after, suggesting that investor concern was short-lived.　　Restoring market confidence　　There is nothing wrong with Strategys balance sheet, and the company clearly has sufficient financial resources to service its debt and dividend obligations, Pandl said.　　“Nevertheless, shifting market conditions created uncertainty

07-07Industry

Strategy sells $216M Bitcoin, Bollinger bullish on BTC: Hodler's Digest, June 29-July 6, 2026

Strategy sells 3,588 Bitcoin for $216M to fund dividends　　Michael Saylors Strategy sold 3,588 Bitcoin (BTC) to fund preferred stock dividend payments and replenish its cash reserves.　　Strategy sold the Bitcoin for $216 million, reducing its total holdings to 843,775 Bitcoin, according to a Monday 8-K filing with the US Securities and Exchange Commission.　　This included 1,363 Bitcoin sold at an average price of $59,256 between last Monday and Tuesday, and 2,225 Bitcoin sold at an average price of $60,773 between Wednesday and Sunday.　　Strategy disclosed the sale of 32 Bitcoin in early June, as its first reported Bitcoin sale since the 2022 tax-loss transaction.　　Before Strategy disclosed its latest Bitcoin sale, Bernstein said the company was unlikely to be forced to sell its holdings, citing its liquidity position and cash reserve coverage.　　Bernsteins report said Strategy had 17 months of cash to cover dividend obligations and interest payments. It added that the company remained a net buyer of Bitcoin and served as a strong “balancing force” in a market where leading US Bitcoin miners are net sellers due to their pivot to AI.　　Donald Trump says ‘nothing wrong’ with $1.4B crypto windfall while in office　　US President Donald Trump has responded to criticism of his 2025 financial

07-07Industry

USDT Returns To Bitcoin: RGB And UTEXO Enable Private Lightning Settlements

Tether, the company behind USDT, is preparing to issue the stablecoin natively on Bitcoin through the RGB protocol version v0.11.1. Deployed by the UTEXO software lab, USDT is set to return to the chain where it first launched in 2014 via the Omni-Mastercoin Layer.　　UTEXO, the company leading the commercial rollout, has positioned itself as the issuer and distributor of this Bitcoin-native USDT in partnership with Tether. “Finally, after eight years of development—if not more—we are the company that is launching USDT over Bitcoin with strong support from Tether,” said Viktor Ihnatiuk, UTEXO co-founder, in an exclusive interview with Bitcoin Magazine.　　The RGB protocol combines its novel client-side validation with the Lightning network for instant, private settlements, while anchoring security to Bitcoins UTXO model. Users can expect to be able to handle USDT on native Bitcoin addresses as well as send and receive it over the Lightning network with compatible wallets.　　The RGB protocol on Bitcoin also offers significant privacy features to USDT users as the asset benefits from Bitcoin‘s UTXO model, which standardizes fresh addresses for every transaction compared to the account-based address reused commonly in EVM blockchains like Tron, Ethereum or Solana. Address reuse is the first mistake of onchain privacy,

07-07Industry

42,197 ETH Acquired as Bitmine Builds $11.1B Crypto Treasury While Strategy Sells

Institutional crypto investors received two sharply different capital allocation signals Monday as Bitmine Immersion Technologies expanded its ethereum treasury while Strategy disclosed a rare bitcoin sale to fund preferred stock dividend payments.　　Key TakeawaysStrategy sold 3,588 BTC on Jul. 5 to fund preferred stock dividends.Bitmine added 42,197 ETH, bringing holdings to 5.74 million ether.Tom Lee targets 5% of ethereum supply as institutional treasury models evolve.　　Strategy Breaks With Its Bitcoin Accumulation Playbook　　Earlier in the day, Strategy announced it sold 3,588 BTC for approximately $216 million, marking its largest bitcoin sale since resuming limited dispositions in recent years. According to co-founder Michael Saylor, the proceeds funded quarterly dividends tied to the companys STRF, STRE, STRK, and STRD preferred shares, along with the June monthly dividend for STRC.　　Following the transaction, Strategy‘s bitcoin treasury declined to 843,775 BTC while the company reported approximately $2.55 billion in cash reserves. The sale represented a notable departure from the accumulation-first approach that has defined Strategy’s corporate identity for years.　　Although Strategy remains the world‘s largest corporate bitcoin holder, the transaction demonstrated that preferred stock obligations now play a meaningful role in the company’s capital management decisions. A great deal of crypto supporters and detractors commented on the news. Bitcoin

07-06Industry

I am contemplating selling some of my bitcoin for gold, veteran trader Peter Brandt says

The logic is simple. BTC has underperformed gold, technology stocks and just about everything this year, which makes it look oversold and attractive relative to these assets.　　But Brandts technical analysis suggests that the expected rotation may not happen and golds outperformance relative to BTC could continue.　　The momentum shift　　A closer look at the XAU/BTC chart helps understand Brandts bias for gold. XAU/BTC tracks the per-ounce price of gold in BTC terms.　　For over a decade, XAU/BTC trended lower, illustrating the cryptocurrencys relentless outperformance and rally against the yellow metal. However, since at least 2019-2020, the pace of decline in the ratio has markedly slowed.　　In technical analysis terms, this represents a loss of bearish momentum in the ratio. A flattening curve has replaced the steep, vertical drops that characterized the 2010s, a sign that the sellers of gold (relative to bitcoin) are finally exhausted.　　And now, the tide seems to be turning in favor of the yellow metal.　　XAU/BTC. (Peter Brandt, TradingView)　　The “rounding” effect Brandt highlighted suggests the ratios fall has not just stopped; it is beginning to curl upward.　　In other words, we could be entering a new macro cycle where gold begins to claw back the ground it lost to bitcoin over the last

07-06Industry

Bitcoin ETFs log record eighth straight negative week despite large Thursday inflow

Quick TakeU.S. spot bitcoin ETFs shed about $527 million in the holiday-shortened week, their eighth straight negative week and the longest run on record.Thursday‘s $221.72 million inflow snapped a 10-session outflow streak, but BlackRock’s IBIT extended its own losing run to 11 days.Spot ether ETFs lost a net $13.7 million, an eighth straight weekly outflow that ties their record, though they closed the week with two days of inflows.Hyperliquid ETFs took in $4.3 million, their smallest week since launching in May, down from a record $111 million the week before.　　U.S. spot bitcoin ETFs posted about $527 million in net outflows over the four trading days ending Thursday, July 2, their eighth consecutive negative week, per The Blocks analysis of SoSoValue data. That extends the longest weekly outflow run in the funds history; before this stretch began in mid-May, they had never strung together more than five net outflow weeks.　　The record week arrived despite a strong finish. The funds pulled in $221.72 million on Thursday, their largest single-day inflows since May 5, ending a 10-session outflow streak that had drained about $2.71 billion, The Block reported Friday. Fidelitys FBTC led with $165.96 million, followed by ARK and 21Shares ARKB at $91.84

07-05Industry

Bollinger Bands creator eyes Bitcoin bear-market end, 'W'-shaped reversal

Bitcoin (BTC) is completing a “perfectly fractal” reversal pattern that a well-known analyst hopes could end the bear market.　　Key points:Bitcoin is on the final leg of what could become a major “W”-shaped reversal pattern.John Bollinger suggests that its success could “break” the downtrend in place since October 2025.Institutional interest slowly returns as newly reclaimed $60,000 holds.　　John Bollinger hints BTC price “W” reversal could break bears　　In X posts on Friday, John Bollinger, creator of the Bollinger Bands volatility indicator, eyed a “W”-shaped double bottom on BTC/USD.　　“$BTC has seen a series of bullish patterns broken, evidence of the power of the downtrend,” he commented.　　“Will this W be the one that breaks the trend？”　　“W”-shaped reversals involve two swing lows with a rejected rebound in between, with price ultimately breaking through that rejection level to form a new uptrend.　　Bollinger uploaded a chart showing how neatly the current setup aligns with the lower band of the Bollinger Bands indicator on daily time frames.　　“Note that it is perfectly fractal. The are small ws at the nadirs and a small m at the apex,” he added, also pointing to a “W” on the weekly chart.BTC/USD one-day chart with Bollinger Bands. Source: John Bollinger/X　　Bollinger has been bullish on

07-04Industry