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Four out of eight chart masters affiliated with CoinNess have forecast a decline for Bitcoin this week, while the other four predicted a rise. The highest price target cited is $68,000, with the lowest at $56,500. Note: Please vote via the link for the price direction and target that aligns with your view. One hundred participants will be selected by lottery to receive a coffee coupon.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 52.09% long, 47.91% short - Binance: 51.78% long, 48.22% short - OKX: 51.11% long, 48.89% short - Bybit: 50.27% long, 49.73% short

Blockchain security firm Blockaid announced via X that it has detected an exploit targeting the DeFi protocol Summerfinance, formerly Oasis.app. The estimated damages so far amount to $6 million.

South Korea's Korea Communications Standards Commission (KCSC) has launched a review into whether the prediction market platform Polymarket constitutes illegal gambling, Sisa Journal reported. The KCSC is a government body responsible for reviewing illegal online content, such as gambling and defamation, and can take action, including blocking access to platforms found to be in violation. At a meeting today, the commission's telecommunications subcommittee announced it would give Polymarket an opportunity to present its case to thoroughly examine the platform's legality and operational methods. A final decision on whether to issue a corrective order will be made after a comprehensive review of the submitted materials, the subcommittee added.

The Korea Economic Association (KEA) has urged the South Korean government to enact a basic act on digital assets to promote the expansion of Security Token Offerings (STO), Digital Asset reported. The KEA made the recommendation today at a joint meeting chaired by South Korean Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol. The association noted that while amendments to the Electronic Securities Act and the Capital Markets Act for STO introduction are scheduled for implementation in January 2027, discussions on payment and settlement methods have been insufficient. The KEA highlighted that countries like the U.S., Japan, and Germany use stablecoins optimized for STOs as key settlement methods, whereas in South Korea, related legislative plans have been postponed indefinitely.

XRP is testing whether its former key resistance level of $1.14 can flip to support after breaking above it with a surge in trading volume, according to an analysis by CoinDesk. In technical analysis, a broken resistance level often becomes a new support zone. CoinDesk noted that trading volume during the breakout reached 81.89 million XRP, 207% above its daily average. The buying pressure initially pushed XRP to a high of $1.1594 before selling pressure caused it to retreat to $1.146. The move followed nine consecutive weeks of net inflows into XRP spot ETFs, which attracted a total of $17.19 million. However, potential catalysts have been delayed, such as the canceled vote on the CLARITY Act. The outlet explained that while most XRP investors are currently at a loss, positive technical signals have emerged, including a breakout from a downtrend on the four-hour chart and a bullish divergence. Key factors to watch are whether the $1.14 level holds as support and if XRP can overcome the next resistance area between $1.17 and $1.20.

Although Bitcoin has rebounded, it is difficult to consider it a trend reversal amid declining spot trading volume, according to cryptocurrency analyst Murphy (@Murphychen888) on X. He explained that the current rise, without the support of spot demand, is merely a rebound, and its future sustainability must be watched. On the positive side, Murphy noted that the price of USDT relative to USDC has fallen from 1.001 to 1.0006, suggesting traders do not intend to leave the market. The decline in major stablecoin balances on exchanges is also slowing. However, he added that with reduced spot volume, the derivatives market's influence has grown. While open interest (OI) has slightly decreased as some long positions took profits, it remains high compared to February levels. Market buy pressure is keeping futures prices above spot prices. "While it is common for long positions to lead the perpetual futures market, the longer this situation persists, the greater the risk of a long squeeze," he said. The analyst previously noted on July 4 that a move by BTC above $70,000 could increase the likelihood of a trend reversal.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The upper section displays a Volume Heatmap, while the lower section shows the Cumulative Volume Delta (CVD). - The Volume Heatmap at the top tracks trading volume at specific price levels. The background color intensifies when the price lingers in a particular range or experiences a significant move. These brighter areas can indicate potential support and resistance zones. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by size. An increase in buy orders causes the corresponding colored line to rise. For example, the yellow line tracks orders between $100 and $1,000, while the brown line represents large-scale orders between $1 million and $10 million.

Cryptocurrency options trading platform BIT (formerly Matrixport) has predicted that Bitcoin's (BTC) implied volatility (IV) could fall below 30% this summer. The platform noted that BTC's implied volatility also fell below 30% during the summers of 2023 and 2025. If a similar trend unfolds, option premiums could decrease by approximately 30% from the reduction in volatility alone, BIT explained. While stating that the market alternates between favoring buyers and sellers, BIT assessed that the current environment is suitable for pursuing profits through option selling strategies, adding that it will flexibly adjust its approach if market conditions change.

Cryptocurrency analyst Frank has suggested that Bitcoin (BTC) may be poised for a short-term rebound, citing a positive turn in its MACD (Moving Average Convergence Divergence) indicator. He noted on X that with the MACD turning positive, it is now time for a meaningful relief rally. The analyst shared a chart showing past instances where a positive MACD crossover preceded significant price increases, such as rallies from around $65,000 to $82,000 and from approximately $85,000 to $97,000.

The chairman of the South Korean National Assembly's Political Affairs Committee, Yoo Dong-soo of the ruling Democratic Party, stated today that virtual asset legislation must be treated as a key priority. Speaking at a committee meeting, Yoo said that issues including a basic act on digital assets, capital market volatility, unfair contractual relationships, and protections for the self-employed are matters that "we recognize must be addressed with the utmost seriousness." According to a report by Digital Asset, fellow Democratic Party lawmaker Lee Kang-il noted at the same meeting that legislation concerning digital assets had been under discussion for a significant time but failed to pass during the committee's previous term. He added that market sentiment has "completely shifted from expectation to disappointment" and urged his colleagues to focus on regaining momentum for the legislative efforts.

BNK Busan Bank has successfully completed a proof-of-concept for a Korean won stablecoin infrastructure built on the Kaia (KAIA) blockchain, Kaia announced via X. The pilot program tested the application of this infrastructure to a digital local currency.

The number of active addresses on the Solana network surged by 38% over the past week, reaching 31.385 million, amid a rise in trading activity for the Solana-based memecoin ANSEM. Over the same period, the network's trading volume hit $13.63 billion across 685 million transactions. Fee revenue amounted to $4.06 million, a 70% increase year-over-year.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $58.01 million liquidated (84.32% shorts) - ETH: $39.79 million liquidated (71.36% shorts) - SOL: $9.42 million liquidated (73.19% shorts)

Strategy founder Michael Saylor has predicted that the growth of Bitcoin (BTC) over the next 10 years will depend on minimal changes to its protocol and the expansion of capital markets. He stated that BTC's most important feature is that it cannot be changed arbitrarily, adding that its base layer will operate more conservatively in the future, with a higher burden of proof required for any protocol modifications. Saylor emphasized that while payments, lending, credit, and yield products may be built on top of Bitcoin, the core protocol itself must remain unchanged. He further assessed that capital flows will now have a greater impact on BTC's trajectory than mining volume, suggesting the four-year halving cycle model is no longer dominant. Saylor also identified so-called "paper Bitcoin" as a major risk, explaining that the market will periodically face credit crises if intermediaries create more claims on the asset than they actually hold. In such scenarios, he noted, investors could be harmed by leverage, opacity, and rehypothecation, even if the protocol itself remains secure. He concluded that ensuring BTC exposure is backed by actual holdings will be the key issue for the next decade, highlighting the importance of custody, proof of reserves, and transparency.

Bitcoin's capital efficiency has declined, requiring over $1 trillion in new funds to fuel its next rally, according to an analysis by CryptoQuant. Citing a recent report from the analytics firm, CoinDesk noted that BTC's capital efficiency has dropped sharply over past bull cycles, demanding significantly more capital for rallies. In 2011, a $2.8 billion net inflow resulted in a 55,000% price increase, whereas in 2015, a $69 billion inflow led to a 10,000% rise. In the current cycle, which began in 2022, a $697 billion inflow has produced a 689% gain. Ki Young Ju, CEO of CryptoQuant, said that for Bitcoin to see further gains, it must establish itself as a core macro asset beyond the current retail-investor-driven ETF trading. He added that another major surge is only possible with large-scale institutional adoption capable of absorbing over $1 trillion in new capital. However, Ki noted that the environment for such a large-scale influx of institutional funds is not yet in place, pointing to recent net outflows from U.S. spot BTC ETFs and Bitcoin's bearish close to the first half of the year.

Binance has suspended cryptocurrency trading services in several European countries, including France, starting July 1 after failing to secure a license under the EU's Markets in Crypto-Assets (MiCA) regulation by the deadline, BFM Business reported. Users in France, where Binance has approximately two million customers, can now only withdraw their assets and are unable to conduct spot or margin trades. The company stated that all customer assets are being held securely.

South Korean telecommunications giant KT plans to fully launch its new growth businesses, "Token Factory" and "Stablecoin," leveraging its existing capabilities and assets, NoCut News reported. The company intends to combine its expertise across the entire value chain—from issuance, custody, and settlement to network transmission and real-world ecosystem integration—by utilizing its proprietary network and security infrastructure. This initiative was unveiled by KT CEO Park Yoon-young during his first press conference since taking office as part of a key strategy to transform the company into an "AX Platform Company." As part of this push, KT plans to invest a total of approximately 12 trillion won ($8.7 billion) in information security, IT, and network sectors over the next three years.

Garrett Jin, founder of the fraudulent crypto exchange BitForex, is holding a $15.08 million short position in Zcash (ZEC) on Hyperliquid (HYPE) and is currently facing a loss of $530,000, EmberCN reported. An address presumed to belong to Jin, starting with 0x92ea, opened its first position nine days ago at an average price of $444. EmberCN added that the address has a strong track record in ZEC trading. Meanwhile, the loss on Jin's BTC long position has narrowed from $23 million to $16 million amid the recent market rebound. According to CoinMarketCap, ZEC is trading at $461.41, up 24.23% over the past seven days.

The Altcoin Season Index from the comprehensive cryptocurrency data platform CoinMarketCap is currently at 52. The index is calculated by comparing the price performance of the top 100 coins by market capitalization (excluding stablecoins and wrapped tokens) against Bitcoin. It is considered an 'altcoin season' if 75% of the top 100 coins have performed better than Bitcoin over the last 90 days. The opposite scenario is deemed a 'bitcoin season.' A score closer to 100 indicates an altcoin season.

An analysis suggests that Bitcoin's Miner Cycle Stress Composite indicator is showing a pattern similar to the one seen during the 2015 market crash, having set a new low in the undervalued zone in 2026. In a post on X, CryptoQuant contributor @gaah_im noted that the indicator combines the Puell Multiple, a measure of miner profitability, with the Miner Capitulation Index. When these two metrics, which assess costs and cash flow differently, move in the same direction, it provides a more reliable signal of an extreme phase in the market cycle. Historically, both indicators collapsed together during stress periods and at BTC price bottoms in 2015, 2018, 2020, 2022, and 2024. The contributor highlighted that the only time the composite indicator fell to 0.00 was in 2015, after which BTC plunged approximately 50% from around $300 to $160 in less than a week. The analysis concludes that this same movement is re-emerging this year.

The Bitcoin Sharpe ratio, which measures risk-adjusted returns, has entered a zone of extreme pessimism after recently falling below -20, but this could be a sign of the market bottoming out, according to on-chain analyst Darkfost. He noted on X that the ratio briefly dipped below -20 before a slight rebound. Darkfost explained that such extreme drops in the Sharpe ratio have historically coincided with periods of peak pessimism in the crypto market. He attributed the ratio's plunge to Bitcoin's 16.1% decline in the second quarter, which marked its third consecutive quarterly loss. The analyst added that in the past, when the ratio fell to these levels, BTC often reversed into an uptrend within weeks to months. He concluded that while this signifies market interest has completely cooled, it could be a time to consider buying, but it should be approached with a long-term perspective.

Key token unlocks this week include $133.74 million in PUMP According to data from Tokenomist, the major token unlocks scheduled for this week (July 6–12) are as follows: - RED: 40.85 million tokens ($4.09 million), representing 9.80% of circulating supply, at 4:00 p.m. UTC on July 6 - APT: 11.31 million tokens ($7.08 million), representing 0.66% of circulating supply, at 2:00 p.m. UTC on July 12 - PUMP: 82.5 billion tokens ($133.74 million), representing 29.23% of circulating supply, at 2:00 p.m. UTC on July 12

The Crypto Fear & Greed Index from data provider CoinMarketCap is currently at 28, indicating that the market remains in a state of 'Fear.' The index measures sentiment on a scale where 0 represents extreme fear and 100 signifies extreme optimism. CoinMarketCap calculates its index based on factors including the price movements of the top 10 cryptocurrencies, market volatility, derivatives data such as the put-to-call ratio, the Stablecoin Supply Ratio (SSR), and its own search data.

The Spot Cumulative Volume Delta (CVD) chart analyzes the order book for the BTC/USDT spot pair. The top section displays a Volume Heatmap, while the bottom shows the CVD. - The Volume Heatmap on top tracks the volume of trades at specific price levels. The background color becomes brighter when the price lingers in a certain range or moves significantly. Brighter areas may act as potential support or resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line represents orders between $100 and $1,000, while the brown line indicates large orders ranging from $1 million to $10 million.