Latest Crypto News & Market Updates

Is Bitcoin Really Headed to $38,000？ NYDIG's October Scenario, Explained

Bitcoin could sink to a cycle low of $38,000 to $39,000 by October if the current drawdown matches the depth of 2022s bear market, NYDIG said in its second-quarter review.　　Key TakeawaysNYDIG sees a potential bitcoin cycle low near $38,000-$39,000 by October if a 2022-style drawdown repeats.Bitcoin is currently trading near $64,500, down about 30% in 2026 and roughly 50% below October 2025s $126,080 peak.K33 researchers believe the $60,000 area already marked this bear markets maximum drawdown.　　A Bleak Scenario　　Bitcoin financial services firm NYDIG has mapped out a scenario in which bitcoin‘s slide extends to $38,000-$39,000 by October, if the 2025-2026 downturn follows the depth and duration of the market’s previous major resets. The scenario appeared in the firms second-quarter review, “ Leverage Not Spot Demand Is Driving Bitcoin While Value and Momentum Buyers Wait,” which was published last week.　　The firm was explicit about why the old playbook is back on traders screens, noting:　　“ Bitcoins 2025-2026 drawdown is bringing the 4-year cycle narrative back into focus, because the timing and structure increasingly resemble the prior reset years of 2014, 2018 and 2022 even though the path has not matched those drawdowns exactly.”　　“ Bitcoins 2025-2026 drawdown is bringing the 4-year cycle narrative back

07-16Industry

Peter Brandt spots possible Bitcoin bottom as BTC stalls near $65K

Veteran trader Peter Brandt has identified a possible bottoming structure on Bitcoins chart after the cryptocurrency rebounded from its late-June lows. Brandt stressed that traders still lack enough evidence to confirm the setup.　　Bitcoin traded near $64,000 on July 16 after failing to hold above $65,000. It has recovered from below $58,000, but questions remain over whether spot demand can support a broader reversal.　　Brandt flags an unconventional Bitcoin bottom pattern　　In aJuly 16 post on X, Brandt said Bitcoins chart could be developing an inverted head-and-shoulders bottom. He described the structure as “VERY VERY UNCONVENTIONAL” and added, “We do NOT know yet.”He presented the formation as an early possibility rather than a confirmed signal.　　VERY VERY UNCONVENTIONAL, but this chart could have the makings of an inverted H&S bottom. We do NOT know yet. $BTCUSD pic.twitter.com/fDjQgVbGdv　　— The Factor Report (@PeterLBrandt) July 15, 2026　　An inverted head-and-shoulders pattern includes three price troughs, with the middle decline extending below the surrounding lows. Traders often wait for a break above the neckline before treating the setup as confirmed. Bitcoin has not completed such a move.　　Bitcoin rebound meets resistance near $65,000　　Bitcoin has gained roughly 12% from its recent swing low below $58,000, but the rebound has struggled around

07-16Industry

Crypto firms face AML risks during post-MiCA migration, says AMLA chair

Mass user migration following the end of the Markets in Crypto-Assets Regulation (MiCA) transitional period could strain compliance at virtual asset service providers (VASPs) in the European Union, according to Bruna Szego, chair of the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA).　　“Because we know customers will rush to withdraw, this will put additional pressure on these VASPs,” Szego said during a Wednesday briefing with the European Parliaments Committee on Economic and Monetary Affairs.　　Szego said firms winding down their EU operations could come under pressure as customers rush to withdraw, while licensed crypto companies could face onboarding challenges as they absorb new users. She urged service providers to maintain efficient compliance procedures throughout the transition.　　MiCAs 18-month transitional period ended on July 1, requiring crypto asset service providers (CASPs) to hold licenses to continue serving EU customers. The European Securities and Markets Authority said crypto service providers that remain unauthorized by the deadline must take “immediate” steps to wind down their EU activities.　　Related: Last-minute MiCA approvals mark end of EU transition period　　AMLA maps next phase of crypto oversight　　Ahead of MiCAs July 1 deadline, AMLA published an advisory note warning crypto firms about money laundering risks arising from the

07-16Industry

Bitcoin hits $65.5K as more surprise US inflation data sparks three-week BTC price high

Bitcoin (BTC) saw three-week highs on Wednesday as US inflation data beat expectations for a second day.　　Key points:Bitcoin sees copycat bullish price action as US inflation data cools for a second day running.Risk assets get a more positive outlook as Fed rate-cut odds drop.Traders stay conservative over Bitcoins ability to continue higher.　　Bitcoin gains after “much better-than-expected” US PPI　　Data from TradingView showed BTC/USD reaching $65,500 for the first time since June 22.BTC/USD 12-hour chart. Source: Cointelegraph/TradingView　　The June print of the Producer Price Index (PPI) came in cool at 5.5% year-on-year after a 0.3% monthly decrease, per data from the Bureau of Labor Statistics (BLS).　　“The June decline in the index for final demand can be attributed to prices for final demand goods, which fell 1.4 percent. In contrast, the index for final demand services moved up 0.2 percent,” an official news release stated.PPI one-month % change. Source: BLS　　Reacting, economist Mohamed El-Erian was upbeat on the outlook for risk assets and Federal Reserve policy.　　“These much better-than-expected figures are set to boost equities and further temper market expectations for upcoming interest rate hikes,” he wrote in a post on X.　　PPI joined Tuesdays Consumer Price Index (CPI) release, which surprised to the downside despite macro

07-16Industry

South Korea to bring digital assets under new state asset management system

South Korea plans to adopt the National Asset Basic Act to update the countrys state asset management system from the outdated State Property Act of 1950.　　The Ministry of Economy and Finance (MOEF) hopes to modernize the management of national assets and explicitly includes digital assets and intellectual property, broadening the definition of state assets, the MOEF announced during a briefing at the Presidents Blue House on Wednesday.　　As part of the reform, the ministry also reiterated plans to tokenize government bonds on a blockchain to reduce transaction, as part of a 2027 pilot project. It also plans to explore the tokenization of state-owned real estate to encourage retail participation and share part of the generated returns with the public.　　The move represents a significant regulatory development for South Korea, which has one of the worlds most active retail crypto markets. The framework seeks to shift the management of state-owned property from a legacy, real estate-focused framework to a new model focused on value creation.Report from South Korea’s Ministry of Finance and Economy. Source: mofe.go.kr　　Seoul moves closer to CBDC, blockchain economy　　On Tuesday, South Koreas government unveiled its 2026 Economic Growth Strategy for the Second Half, which includes plans to conduct a 2027 pilot

07-16Industry

Is Robinhood Chains success bullish or bearish for ETH the asset？

Robinhood Chain‘s explosive launch this month has reignited one of Ethereum’s longest-running debates: Do successful layer-2 networks increase demand for ETH, the asset, or do the new entrants capture all of the value for themselves？　　The retail brokerage‘s Arbitrum-based Ethereum L2 has become one of Ethereum’s busiest rollups since its launch on July 1.　　More than $141 million in Ether was bridged onto the chain in its first two weeks. DeFiLlama data shows more than half a million wallets now hold ETH on the network, and a memecoin frenzy saw Robinhood Chain surge past the Ethereum L1 and Coinbases Base L2 in 24-hour DEX trading volume.　　Ether has pumped on the news, gaining around 15% from $1,582 on July 1 to $1,825 by July 13, according to Coingecko data, following a wave of bullish comments.　　World Liberty Financial‘s Eric Trump posted on July 11, “ETH is pumping hard! Great to see!” while Tom Lee, chairman of BitMine Immersion Technologies, argued the launch reinforces the thesis that “ETH is money,” pointing to the asset’s role as the chain‘s native gas token and the L2’s finality on Ethereums mainnet.　　Ethereum investors have heard similar arguments before.　　Related: Robinhood L2 sparks ETH optimism, Saylor ‘muddies waters.’ Hodlers Digest, July

07-16Industry

Czech Republic tells ISPs to block Polymarket after gambling blacklisting

The Czech Finance Ministry added Polymarket to its list of unauthorized online gambling websites on Monday, requiring internet service providers (ISP) to block access.　　The ministry listed the prediction market‘s website under the country’s Gambling Act, which prohibits operators from offering unlicensed online gambling services to Czech users.　　Under the Gambling Act, ISPs must block access to websites included on the ministrys blacklist within 15 days of publication of the name.　　Polymarket is a prediction market where users trade contracts tied to the outcomes of future events. The platform gained global attention during the 2024 US presidential election, with its markets widely cited as a gauge of election sentiment.　　Polymarket and rival Kalshi have been restricted by regulators across the European Union, including in France, Germany, Poland, Romania and Spain.　　Polymarket did not immediately respond to Cointelegraphs request for comment.　　Prediction markets face watchdog scrutiny beyond Europe　　Regulators in several jurisdictions argue that some prediction market contracts amount to unlicensed gambling or fall under existing financial market rules.　　On July 3, the European Securities and Markets Authority (ESMA) warned that many prediction market contracts could already fall under existing restrictions on binary options if they meet the definition of financial instruments.　　The regulator said companies cannot avoid EU financial

07-16Industry

Tether invests $20M into Argentine neobank Ualá

Stablecoin giant Tether reportedly invested $20 million in the Argentine neobank Ualá, as part of its broader push in Latin America.　　The investment formed part of a $197 million equity funding round announced by Ualá in March and led by Allianz X, according to Bloomberg. Ualá disclosed Tether as a participant in the round at the time but did not reveal the size of its investment.　　Cointelegraph contacted Tether for confirmation but had not received a response by publication.　　Earlier in July, Tether announced a $20 million investment in Brazilian crypto exchange Mercado Bitcoin to support the expansion of its onchain infrastructure across Latin America.　　In April, Tether led a $14 million Series A funding round for the Argentine crypto platform Belo, with participation from Titan Fund, The Venture City, Mindset Ventures, G2, and other existing investors.　　Tether issues USDt (USDT), the worlds largest stablecoin, which had a market capitalization of $184.4 billion at the time of writing, according to CoinMarketCap.

07-16Industry

Ethereum is flashing a $478 million buy signal but top traders still expect it to fail

Ethereum has recorded $478 million in net exchange outflows over the last 7 days, a pace running roughly five times above average and the kind of supply-side move traders typically read as accumulation, according to Nansen.　　Nansens data complicates that reading, as top-PnL wallets sold a net $64 million over the past seven days, and smart traders and whale accounts on Hyperliquid perpetual futures both hold net short positions.　　“Smart traders” held $38 million net short, and whale wallets added another $21 million net short on top of that. Those are cohorts the market treats as genuinely informed traders, which gives their skepticism more weight.　　A bar chart shows a $478 million net ETH outflow against short positioning: $64 million top-PnL selling, $38 million and $21 million net short.Why ETH/BTC is the real scoreboard　　The renewed attention traces back to Ethereums underperformance against Bitcoin, a gap that widened earlier this year. ETH is down about 37.1% year-to-date, compared with Bitcoins 26.2% decline as of July 14, with the ETH/BTC ratio near 0.029.　　The bounce from Junes low at 0.025 is short of the levels that preceded Ethereums past periods of leadership.　　Citis March 2026 scenario work gives that recovery a price range to test against, with

07-16Industry

Dormant Bitcoin wallet moves $383M after more than 8 years

A Bitcoin wallet that had remained inactive for more than eight years has transferred 5,908 BTC worth about $383 million, reviving another long-dormant holding as traders continue tracking large onchain movements.　　According to blockchain analytics platform Lookonchain, citing Arkham data, the wallet identified as “138EM…ReyiT” moved the entire 5,908 BTC balance to a new address at 7:15 p.m. ET on Wednesday. The coins remain in the recipient wallet, with no signs that they have been sent to a cryptocurrency exchange.　　A #BitcoinOG transferred 5,908 $BTC($382.67M) to a new wallet after being dormant for 8 years.　　The OG received 5,908 $BTC 8 years ago when $BTC was trading at $16,865 and had held it ever since. 　　The position is now up $283M (+284%).https://t.co/x77s7oSDhC pic.twitter.com/bw4dUN7y13　　— Lookonchain (@lookonchain) July 16, 2026　　Arkhams data showed the wallet originally received the Bitcoin in December 2017, when BTC traded near $16,800. The holdings were worth about $99.6 million at the time, compared with roughly $383 million at current market prices.　　The timing of the original purchase makes the wallet notable. The holder kept the coins through Bitcoin‘s nearly 80% decline in 2018, its rally to almost $69,000 in 2021, the subsequent fall to around $15,500 in late 2022, and the record

07-16Industry

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