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South Korea's Financial Services Commission (FSC) has referred two cases of alleged virtual asset market manipulation to law enforcement, Maeil Business Newspaper reported. The decision was made during the commission's 12th regular meeting on July 1. One case involves so-called "whale" investors who allegedly inflated a cryptocurrency's price on overseas exchanges before realizing profits on domestic platforms. The other involves individuals accused of using high-frequency, repetitive orders on a "kimchi coin" to create artificial buying pressure and manipulate its price. Financial authorities stated they plan to enhance information disclosure regarding the accumulation and disposal of assets by large-scale investors. They also intend to improve the market warning system to flag when trading becomes heavily concentrated in a small number of accounts.

Global cryptocurrency exchange MEXC has announced the listing of five U.S. stock token spot trading pairs in partnership with real-world asset (RWA) token platform Ondo Finance (ONDO). The newly listed assets include CCJON/USDT for uranium producer Cameco, TTMION/USDT for PCB manufacturer TTM Technologies, RMBSON/USDT for semiconductor and silicon IP firm Rambus, SYMON/USDT for AI automation company Symbotic, and KEELON/USDT for a data center and energy infrastructure company. MEXC stated it plans to gradually expand its stock token offerings through its collaboration with Ondo Finance. The exchange currently supports trading for over 160 futures products linked to traditional finance (TradFi).

Bitcoin could be poised for another parabolic bull cycle, according to CryptoQuant CEO Ki Young Ju. He noted on X that while this is possible, capital efficiency has declined compared to the past. In 2011, an inflow of $2.7 billion led to a 55,436% price increase, whereas the current cycle has seen a $697 billion inflow yield a return of only 689%. Consequently, large-scale capital allocation from institutional investors will be the key factor for the next bull market, he said. Ki Young Ju emphasized that Bitcoin must establish itself as a global macroeconomic asset rather than remaining merely an ETF investment target for retail investors. This transition is still in its early stages, and its potential remains intact, he added. He concluded that if Bitcoin can absorb over $1 trillion in funds based on its Realized Cap, the possibility of a parabolic bull run remains.

The current market for Bitcoin is in a worse state than during the February correction, driven by a combination of surging exchange inflows and investors selling at a loss, according to on-chain analyst Axel Adler Jr. In a blog post, he noted that BTC deposits to exchanges have climbed to 122,000 BTC, well above the annual average of 82,000 BTC. This trend typically signals increased selling pressure that could push prices lower. Furthermore, the Spent Output Profit Ratio (SOPR) has dropped to 0.99, falling below the key 1.0 baseline, which indicates that holders are now selling their BTC for a loss. Adler Jr. added that risk-off sentiment remains widespread in the market. He suggested that for a rebound to occur, the SOPR must first recover above 1.0 and exchange inflows need to stabilize around their annual average.

Bitcoin could continue its correction for approximately the next two months before bottoming out in September, according to an analysis by BIT. The firm explained that while July is typically a strong month for BTC, it has historically been followed by a two-month adjustment period. According to BIT, unlike last year when optimism surrounding the Genius Act supported the market, there is a lack of similar momentum this summer. The analysis notes that current trading volume is sluggish and downside risks remain high, limiting short-term upside potential. BIT concluded that the bottom for this cycle is likely to form around September, suggesting that strategies focused on stable profit generation are more suitable than directional bets.

Bithumb announced it will temporarily suspend deposits and withdrawals for Hippo Protocol (HP) starting at 3:00 a.m. UTC on July 6 to support a network upgrade.

BTC perp long/short ratios on top exchanges by open interest 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: 48.89% long, 51.11% short - Binance: 48.07% long, 51.93% short - OKX: 48.73% long, 51.27% short - Bybit: 49.37% long, 50.63% short

South Korean crypto exchange Upbit announced it will temporarily suspend withdrawals for Starknet (STRK) starting at 2:00 p.m. UTC on July 5, citing network issues.

President Donald Trump holds over $50 million in Bitcoin (BTC) in a cold wallet, according to financial disclosure documents released by the U.S. Office of Government Ethics (OGE). The assets are held in a wallet registered to CIC Digital LLC, an NFT company owned by Trump. In addition to the Bitcoin, CIC Digital's holdings include between $5 million and $25 million in Ethereum (ETH) and another $5 million to $25 million in USDC.

Upbit has announced it will temporarily suspend deposits and withdrawals for Cosmos (ATOM) starting at 9:00 a.m. UTC on July 8 due to a network upgrade.

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

Ark Invest, led by Cathie Wood, purchased an additional 52,455 shares of Circle (CRCL) for $3.28 million and 16,081 shares of Coinbase (COIN) for $2.35 million yesterday, TechFlow reported.

Cryptocurrency wallet service Phantom has hired three core developers from Ventuals, a platform for trading unlisted stock tokens built on Hyperliquid (HYPE), according to an announcement on its official blog. The new hires have previous experience at firms including Airbnb, Brex, and Paradigm. They will join Phantom's trading and data teams to focus on developing the wallet's trading services.

The Solana (SOL), XRP, and Hyperliquid (HYPE) spot ETFs all recorded net outflows on June 30. - SOL: $2.5 million - HYPE: $3 million - XRP: $2.83 million

U.S. spot Ethereum ETFs saw net outflows of $27.6 million on June 30, according to data from Farside Investors. This marks the ninth consecutive trading day of net outflows. - BlackRock's ETHA: -$27.6 million

U.S. spot Bitcoin ETFs saw net outflows of approximately $222.6 million on June 30, marking the ninth consecutive trading day of net outflows, according to data from Farside Investors. - BlackRock's IBIT: -$212.4 million - Fidelity's FBTC: -$10.2 million

Tron (TRX) set new all-time highs for both active accounts and transaction volume last month, according to Lookonchain. The network recorded 26.97 million active accounts and 385.77 million transactions in June.

24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $165.37 million liquidated (86.51% longs) - ETH: $63.76 million liquidated (70.55% longs) - SOL: $15.84 million liquidated (69.28% longs)

Binance has announced it will offer a tripartite banking settlement network to clients of the crypto bank Anchorage Digital. The integration allows Anchorage Digital's institutional clients to use assets held in custody at the bank as collateral for trading on Binance, eliminating the need for separate deposits. This collaboration marks the first time Anchorage Digital's institutional settlement platform, Atlas, has integrated with an exchange.

The Solana-based memecoin issuance platform Pump.fun transferred an additional 16.43 million USDT to Kraken seven hours ago, EmberCN reported. In total, Pump.fun has now moved $770 million in stablecoins (USDC and USDT) secured through PUMP sales last July to centralized exchanges (CEX).

According to CoinNess market monitoring, BTC has risen above $59,000. BTC is trading at $59,001.99 on the Binance USDT market.

Polygon (POL) has burned 107 million POL, worth $7.38 million, so far this year. Co-founder Sandeep Nailwal stated on X that the large-scale burn has transitioned the token to a net deflationary structure. He attributed this to the network processing a high volume of transactions, noting that Polygon handled 198 million transactions last month alone—the most of any blockchain. According to CoinMarketCap, POL is trading at $0.06898, down 1.01% over the past 24 hours.

Christopher Alexander Delgado, the former CEO of Goliath Ventures, has pleaded guilty to charges of wire fraud, conspiracy to commit wire fraud, and money laundering in a U.S. cryptocurrency Ponzi scheme case, The Block reported. Goliath Ventures was found to have operated a Ponzi scheme of at least $400 million under the pretext of investing in crypto liquidity pools. Delgado admitted to causing $250 million in losses to investors, using the funds to purchase luxury homes and high-end cars. He faces a potential sentence of up to 20 years for the individual fraud charges and up to 10 years for money laundering. As part of his plea agreement, Delgado has agreed to forfeit the house and vehicles to the government.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for Injective (INJ) starting at 9:00 a.m. UTC on July 2 to support the token's network upgrade.

South Korean exchange Upbit has announced scheduled server maintenance to ensure the stability of its trading system. The maintenance is set to last for five hours, from 5:00 p.m. to 10:00 p.m. UTC on July 5.