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Wallets holding between 10 BTC and 10,000 BTC have accumulated 19,610 BTC since July 29, while holdings among wallets with less than 0.01 BTC fell 0.55%, according to Santiment. Amid market turbulence linked to the Coldcard incident, smaller retail holders have been selling on anxiety while whales have been absorbing supply, Santiment said.

Fortune raised concerns that Circle’s acquisition of more than 1,000 blockchain-related patents from IBM could harm the broader digital-asset ecosystem. The report questioned the practical value of the IBM patents and noted that IBM’s earlier push into enterprise blockchain effectively ended in failure. Fortune also warned that Circle could use the intellectual property it acquired to file patent-infringement lawsuits against rivals or early-stage startups, or pressure them to pay licensing fees.

Cantor Fitzgerald lowered its price target on Strategy to $186 from $212 while maintaining an Overweight rating, according to Walter Bloomberg. The Wall Street investment bank adopted more conservative assumptions, including a cut to its Bitcoin price forecast to $98,000 from $111,000, but still assessed Strategy’s long-term outlook positively. Cantor expects STRC’s par value to recover and said Strategy is likely to keep expanding its Bitcoin holdings through the issuance of credit bonds.

A CryptoQuant contributor said Bitcoin is in an accumulation zone, although a market bottom has not yet been confirmed. AxelAdlerJr said the Adaptive Sell-side Risk Ratio had fallen to 0.031, placing it in the bottom 3% of the current halving cycle. That means the reading is lower than 97% of days since April 2024, according to the analyst. AxelAdlerJr said this suggests the market is under significant stress, with the balance between coins held at a profit and at a loss deteriorating sharply while market participants’ confidence remains low. Historically, such conditions have tended to appear in the later stages of a bear market, AxelAdlerJr said, although that does not mean Bitcoin has already hit a bottom.

Crypto asset manager Hashdex will shut down management of its Bitcoin ETF, which has about $14.26 million in assets, Cointelegraph reported. Trading in the ETF will end on Aug. 17, with cash distributions tied to the closure expected around Aug. 24.

Onchain Foundation, formerly the Lisk Foundation, said it will carry out a $1 million LSK buyback over 45 days starting Aug. 3. The foundation described the current weakness in the altcoin market as a strategic opportunity to increase its LSK holdings and said the move is part of its treasury strategy to reaffirm its long-term commitment to the Lisk ecosystem.

The three major U.S. stock indices opened higher today. - S&P 500: +0.33% - Nasdaq: +0.30% - Dow Jones: +0.52%

An anonymous whale has bought $220 million worth of ETH and WBTC since July, on-chain analyst ai_9684xtpa said. The address withdrew 200 BTC from Binance four hours ago and has so far withdrawn a total of 74,265 ETH and 1,400 WBTC from the exchange. The average purchase price was around $1,770 for ETH and about $63,887 for WBTC. The position is currently showing a profit of about $3.8 million.

Iran has rejected the latest U.S. proposal to fully reopen the Strait of Hormuz before the war ends, Lebanon’s Al Mayadeen reported, citing an Iranian source. The source also said the U.S. had made concessions related to the closure of the strait’s southern shipping lane, although the claims have not been independently verified.

BlackRock announced the launch of two tokenized money market products, BSTBL and BRSRV, as it expands its cash management business. The products combine BlackRock-managed money market offerings with blockchain-based infrastructure. The company said they were designed for use in the cryptocurrency market while maintaining the liquidity and stability provided by compliant money market funds.

Bitcoin has seen daily price moves of more than 1% on an average of 228 days a year, compared with 68 days for the S&P 500, according to Unfolded. Bitcoin also posted moves of more than 2% on about 144 days a year on average, far above the S&P 500’s 18 days.

A whale wallet dormant for 12.7 years transferred 500 BTC to a new address. The holdings were worth about $31.31 million.

Bitmine said it bought an additional 10,399 ETH last week, bringing its holdings to 5,797,813 ETH, equivalent to 4.8% of Ethereum’s total circulating supply.

B. Riley cuts Strategy price target to $155 Investment bank B. Riley lowered its price target on Strategy to $155 from $215.

An early Ethereum investor who had been dormant for three years sold 2,250 ETH worth $4.15 million, according to Lookonchain. The investor appears to have bought the ETH about eight years ago at an average price of around $489.

BlackRock transferred 1,948.07 BTC worth $122 million to Coinbase Prime, according to Onchain Lens. The deposit may be part of the firm’s operational process, including settlement and redemptions tied to inflows and outflows in its spot crypto ETF products.

Strategy said about half of the proceeds from its sale of 1,637 BTC, worth $102.4 million, was used to pay dividends on preferred stock, The Block reported. The rest was used to repurchase STRC preferred shares through a digital credit securities buyback program, according to the report.

Strive said it bought an additional 20 BTC worth about $1.3 million, bringing its total holdings to 20,020 BTC.

Strategy said it sold 1,637 BTC and now holds 842,138 BTC.

BitGo has launched BitGo Link, a new tool for institutional clients that connects accounts on cryptocurrency exchanges including Crypto.com, Kraken and Coinbase to its platform, according to The Block. The tool is designed to let users view and move cryptocurrencies held in BitGo’s custody service and on exchanges through a single interface. That would allow institutional treasury teams to manage assets more efficiently.

South Africa’s Treasury and central bank have released a draft rule setting out, for the first time, standards for treating crypto transfers as cross-border transactions, Wu Blockchain reported. Under the draft, transfers of cryptocurrencies from South Africa-based crypto service providers to offshore exchanges or non-custodial wallets would be subject to approval procedures and reporting requirements.

10x Research founder Markus Thielen said a monthly close above $63,000 for BTC would confirm a bear-market bottom. He said BTC’s July close did not meet that threshold. On positioning, Thielen said he still favors long positions but plans to shift to a neutral stance if BTC breaks below key support levels and moving averages. He added that if the U.S. 10-year Treasury yield keeps rising, the Federal Reserve may need to resume rate hikes in September. Thielen also said miners pivoting to AI businesses hold around 100,000 BTC in potential sell-side supply, while liquidation moves by corporate Bitcoin treasury holders could add to selling pressure.

Citigroup lowered its price target for Coinbase (COIN) to $210 per share from $235.

Hyperscale Data secures $30M BTC-backed loan via Morpho Hyperscale Data, a U.S.-listed Bitcoin accumulation company trading under DAT, secured a $30 million BTC-backed loan through DeFi lending protocol Morpho, The Block reported. The funds are set to be used to expand an AI data center in Michigan. The company also said it sold about 100 BTC last week and established a BTC-backed credit facility as part of its AI infrastructure investment strategy.

Federal Reserve Bank of New York President John Williams maintained an optimistic view that price pressures will ease gradually, while saying it would be entirely appropriate to raise interest rates if inflation is not on track to return to 2%, according to a Reuters interview. In the interview on July 31, local time, Williams said energy prices and trade tariffs had already passed their peak and, if the economy remains resilient, the main factors that pushed up inflation over the past year and a half would no longer play a major role. Williams added that the factors behind the earlier slowdown in inflation would begin to work again. Williams said he will watch core inflation data very closely over the coming months to see whether it is consistent with inflation converging to 2%, adding that he will work to achieve a stable long-term 2% inflation target by 2028. He also presented a personal outlook that inflation will ease somewhat in the second half of this year and decline further next year. While reaffirming that the current rate stance is in a favorable position to bring inflation back to target, Williams stressed that if inflation is not on a path to 2%, it would be entirely appropriate to act to correct that.