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Major exchanges have seen $110 million worth of futures liquidated in the past hour. In the past 24 hours, $1,191 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $61,000. BTC is trading at $60,963.1 on the Binance USDT market.

The full text of H.R.8957, the Modernizing America's Reserve Assets Act (ARMA), has been published on the official U.S. Congress website. The bill was introduced on May 21 by Rep. Nicholas Begich of Alaska and has been referred to the House Financial Services Committee for review. The legislation's core proposal is for the Treasury Department to incorporate Bitcoin obtained through criminal and civil forfeitures into a strategic reserve. These assets would be required to be held for a minimum of 20 years, with sales or disposals prohibited during that time. The bill also mandates a quarterly proof-of-reserves mechanism, independent third-party audits, and allows state governments to voluntarily deposit Bitcoin into separate accounts within the Federal Reserve. A forward-looking provision requires the Treasury and Commerce Departments to jointly study viable paths to increase the nation's Bitcoin holdings within 180 days, without additional appropriations. Potential methods include converting non-Bitcoin digital assets, using forfeited assets, accepting voluntary donations, utilizing tax and tariff revenue, or employing Federal Reserve or gold certificate mechanisms. Additionally, any assets from hard forks or airdrops on government-managed addresses would be subject to a five-year sales ban. After this period, their market value would be assessed, with only the most valuable mainstream asset retained and the remainder sold, with proceeds going to the Treasury. Analysts noted that compared to the previous "BITCOIN Act," which called for the purchase of one million Bitcoin, the new bill is more moderate and has a higher chance of political feasibility. They also observed that it leaves open the possibility for the federal government to purchase more Bitcoin in the future.

The three major U.S. stock indices opened mixed today. - S&P 500: -0.67% - Nasdaq: -1.15% - Dow Jones: +0.10%

Greece's Ministry of Finance is preparing a bill to impose a 15% capital gains tax on cryptocurrencies, Reuters reported. The legislation is scheduled to be submitted to parliament for review in the coming months. According to the plan, profits up to €500 per taxpayer will be tax-exempt. While individual mining activities will be excluded from taxation, mining companies registered as corporate entities will be taxed. Greece currently lacks a tax framework for cryptocurrencies. Tax rates on crypto assets among European Union (EU) member states range from 8% in Cyprus to 30% in France. A Greek government official noted that it is difficult to calculate the size of the domestic crypto market and forecast specific tax revenues at this time, as most local investors use overseas platforms.

Nick Timiraos, a Wall Street Journal (WSJ) reporter often described as the Fed whisperer, stated that the latest non-farm payroll data has virtually eliminated the case for a near-term interest rate cut, assessing that the hiring boom has regained vitality. He argued that the re-acceleration of the job market will give Federal Reserve (Fed) officials concerned about inflation grounds to argue that the current policy stance is insufficient to curb price pressures. Timiraos added that while this jobs report does not entirely settle the debate over the extent of further rate hikes this year, it has solidified the view that there is no reason to cut rates for the time being.

The UK's Financial Conduct Authority (FCA) has flagged Hyperliquid (HPYE) and the Hyper Foundation as firms of concern for potentially offering unlicensed financial services, Decrypt reported. The FCA stated that Hyperliquid, the Hyper Foundation, their protocol applications, and related social media channels may be providing or promoting financial products or services in the UK without authorization. Consequently, the FCA has advised investors to avoid transacting with the platforms.

White House National Economic Council (NEC) Chairman Kevin Hassett stated that the Federal Reserve should not raise interest rates and has room to lower them. He emphasized that the Fed has consistently been behind the curve, adding that there remains significant room for rate cuts.

Qiao Wang, co-founder of Alliance DAO, stated that Zcash (ZEC) is in a situation similar to that of early Bitcoin. On X, he explained that ZEC currently evokes the same feeling as Bitcoin in its initial stages, with top-tier developers writing its code while many critics misunderstand the project. Wang added that while ZEC continues to face various vulnerabilities, uncertainties, and high volatility, its structure offers the potential for substantial returns upon success. This commentary comes as ZEC has fallen sharply today, with selling pressure intensifying following the disclosure of a security vulnerability that could potentially lead to infinite inflation. According to CoinMarketCap, ZEC is currently trading at $318.76, down 40.27%.

Chun Wang, founder of F2Pool, a major crypto mining pool with Chinese roots, appears to be buying the dip in ETH, EmberCN reported. An address associated with Wang withdrew 9,719 ETH ($16.16 million) from Binance a short while ago and subsequently deposited the entire amount into the DeFi lending protocol Spark.

Grayscale's Hyperliquid (HYPE) ETF, HYPG, has purchased approximately $5 million worth of HYPE over the past 48 hours, according to analysis from crypto analyst Hupzy. Hupzy noted that Grayscale's inclusion of HYPE signals growing long-term demand, explaining that ETFs create consistent buying demand regardless of price, which helps absorb market selling pressure. While the $5 million purchase may not be substantial on its own, Hupzy suggested that if HYPG continues to see net inflows, Grayscale could emerge as a major buyer of HYPE, alongside addresses related to a16z.

According to monitoring by security firm PeckShield, the DTXT/USDT trading pair on BNB Chain was attacked, resulting in a loss of approximately 35,041 USDT. The exploit stemmed from a vulnerability in the DTXT contract that determines the type of operation by comparing its USDT balance with the trading pair's deposits. The attacker sent a small amount of USDT directly to the trading pair's address, which caused a large DTXT sell order to be misinterpreted as an addition of liquidity, thereby bypassing the sell transaction fee logic. The attacker used a flash loan of 1,077,400 USDT from Moolah to execute the exploit, securing a profit of about 35,000 USDT.

Bitcoin mining company Keel Infrastructure (KEEL) plans to issue $400 million in convertible notes due in 2032, according to a Globe Newswire press release. The notes will carry an annual interest rate of 1.25%. The offering was upsized from an initial $350 million due to strong demand. Payment obligations for the notes are guaranteed on a senior unsecured basis by Keel's subsidiary, Bitfarms.

Morgan Stanley's wealth management division has partnered with Galaxy Digital to offer a service for high-net-worth clients that converts their directly held Bitcoin, Ethereum, and Solana into spot crypto ETFs, Barron's reported. The converted ETFs can then be used as collateral for loans, with a minimum transaction size of $5 million. This collaboration follows the U.S. SEC's approval in July 2025 of an in-kind conversion mechanism between directly held crypto assets and spot crypto ETFs.

Bitcoin Treasury Capital (BTCB) has announced the launch of 'BTC PREF,' which it describes as Sweden's first preferred stock backed by Bitcoin (BTC). According to the company, 'BTC PREF' will offer a 10% annual dividend and is scheduled to begin trading on the Spotlight Stock Market on July 20. BTCB expects to raise approximately $2.5 million from the offering and plans to use the funds to purchase additional BTC.

A source close to the Iranian negotiating team has denied reports from Saudi Arabian media that Iran agreed to transfer a portion of its enriched uranium stockpile to a third country, according to Iran's Fars News Agency. The source added that current negotiations between Iran and the U.S. do not include nuclear-related issues, stating these topics have been postponed for future discussions.

According to CoinNess market monitoring, BTC has fallen below $62,000. BTC is trading at $61,994.01 on the Binance USDT market.

CNBC reported that MicroStrategy's (MSTR) Bitcoin sales and a correction in technology stocks have dampened investor sentiment in the cryptocurrency market. Charles-Henry Monchau, Chief Investment Officer (CIO) at Syz Group, said that speculative funds are shifting to AI-related stocks and South Korean memory chip stocks, with anticipation for large IPOs also absorbing some capital. Rajiv Sony, an analyst at Wave Digital Assets, explained that the correlation between BTC and the Nasdaq has weakened significantly. He noted that while the 30-day correlation between BTC, the Nasdaq, and the S&P 500 was almost perfectly positive a month ago, it has dropped considerably in recent weeks. Conversely, Matt Cole, CEO of Strive, argued that Bitcoin's fundamentals are stronger than ever. He pointed out that this is the fifth time BTC has approached its 200-week moving average, and the previous four instances served as buying opportunities.

BlackRock has deposited 1,978 BTC ($123.66 million) and 14,244 ETH ($23.84 million) to Coinbase Prime, according to Onchain Lens. The deposit is believed to be part of the operational management of its spot crypto ETFs, likely for settling redemptions amid fund inflows and outflows.

On-chain analysis firm Glassnode noted that the one-month implied volatility (IV) for BTC has surpassed 40%, while realized volatility remains around 35%. This indicates that the options market is pricing in greater price fluctuations than the spot market is currently experiencing. The firm added that short gamma positions are currently dominant in the BTC market, with the maximum negative gamma price level at $65,000. As BTC trades within this range, hedging demand could further amplify price volatility.

MicroStrategy founder Michael Saylor has identified four main ideological camps within the Bitcoin community, calling for greater convergence among them. According to his explanation, Maximalists emphasize Bitcoin's status as the dominant digital currency network. Capitalists argue for the deep integration of Bitcoin into global capital markets, banking systems, and corporate balance sheets. Technologists support technical upgrades to enhance scalability, privacy, and security. Finally, Fundamentalists stress the importance of self-custody, decentralization, and the protocol's immutability to prevent it from being co-opted by institutional or regulatory forces.

Citigroup has warned that the global stock market has entered its largest bubble since the 2008 financial crisis. The bank noted that 10 of the 18 items on its Global Bear Market Checklist have now entered the danger zone. Key risk factors cited include overvalued stock prices, optimistic investor sentiment, expanding investment in artificial intelligence (AI), and an increase in IPOs. While Citigroup's year-end market outlook remains optimistic, it cautioned that if more risk indicators emerge, a buy-the-dip strategy during a market correction could become significantly riskier.

Funding rates on major centralized (CEX) and decentralized (DEX) exchanges have turned negative as Bitcoin (BTC) fell to $61,126 today, BlockBeats reported, citing data from CoinGlass. The outlet noted that this shift indicates a clear turn toward bearish sentiment among market participants. Funding rates are a mechanism in perpetual futures contracts designed to align the futures price with the spot price through payments exchanged between long and short traders. A rate above 0.01% is typically considered a bullish signal, while a rate below 0.005% is interpreted as bearish.

According to monitoring by Onchain Lens, an anonymous Bitcoin whale that had been dormant for five years has transferred 602.26 BTC, worth approximately $37.81 million, to Binance. The address realized a profit of approximately $30.66 million from the transfer.

Bloomberg has pointed out that stablecoins could introduce new risks to the global financial system if they become a core part of future monetary infrastructure. The report noted that while tokenization technology can enhance settlement efficiency and reduce transaction costs, the U.S. government is effectively adopting privately issued, dollar-pegged stablecoins as an alternative to a central bank digital currency (CBDC). Bloomberg argued that stablecoins are essentially private IOUs dependent on the issuer's credit, which could undermine financial market stability in the event of a large-scale redemption event or operational failure. Concerns also persist regarding the accounting transparency and anti-money laundering (AML) frameworks of Tether, the world's largest stablecoin issuer. The report suggested that major jurisdictions like the European Union (EU) should either build tokenized currency systems based on central bank deposits or pursue the development of a CBDC, explaining that the financial chaos caused by the private currency systems of the 19th century should not be repeated.