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Bitcoin’s $60,000-$70,000 range becomes third most traded range in history

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Bitcoin’s $60,000-$70,000 range becomes third most traded range in history

Bitcoin BTC$63,932.69 is trading around $64,000, marking 307 days within the $60,000- $70,000 range.

The consolidation range is now the third longest period spent in any $10,000 price band in bitcoin’s history, behind only the $10,000-$20,000 and $20,000-$30,000, according to Glassnode data.

From a technical perspective, bitcoin continues to trade above its 200-week moving average, currently around $62,873. Historically, prolonged moves below this level have been short lived, making it a closely watched gauge of the long term trend.

Despite holding near $64,000, bitcoin remains roughly 50% below its all-time high reached in October.

Onchain data also points to a significant area of support. Glassnode’s Entity Adjusted UTXO Realized Price Distribution, which tracks the price at which bitcoin last changed hands between economic entities, shows that about 6% of the circulating supply sits between $58,000 and $64,000.

URPD (Glassnode)

Whether this range ultimately resolves higher or lower remains uncertain, but the prolonged sideways trading has established one of bitcoin’s largest cost-basis clusters to date.

UPDATE (July 10, 11:20 UTC): Amends hed from “Bitcoin’s $60,000-$70,000 range becomes third longest consolidation in history”

Japan’s ‘invest locally’ plan likely to spur demand for assets like bitcoin (BTC), gold: Crypto Daily

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Japan’s ‘invest locally’ plan likely to spur demand for assets like bitcoin (BTC), gold: Crypto Daily

This hidden form of taxation, first used by nations after World War II, allows authorities to finance deficits cheaply, gradually erode the real value of the debt burden through moderate inflation, and avoid the relatively damaging alternatives of outright default or severe austerity. (Other indebted nations like the U.S., U.K. and European countries may do the same soon enough.)

Such an environment creates a strong incentive to seek assets with limited supply that may preserve purchasing power, such as bitcoin and gold. BTC has already proved its mettle: Housing prices measured in bitcoin look far cheaper than in dollars.

But there’s a near-term risk worth noting. The GPIF holds $931 billion in ​foreign assets, including $232.1 billion in U.S. Treasuries. A slight diversion of capital to local assets may create jitters on Wall Street, potentially breeding risk aversion and selling across all corners of the market, including cryptocurrencies.

For now, however, bitcoin is buoyant, trading above $64,000, with a key momentum indicator signaling a renewed bullish shift in market trend. There are several more key levels between $65,000 and $80,000 that prices need to clear before a full-blown uptrend is confirmed. Stay alert!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”

South Korea Super-App Toss to Run Won Stablecoin Pilot on OP Stack

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South Korea Super-App Toss to Run Won Stablecoin Pilot on OP Stack

Optimism says Toss is the fourth regulated financial institution in a year to pick the OP Stack, after Bitpanda, Kraken and Mitsui.

Toss, the South Korean fintech app with roughly 30 million registered users, is testing a Korean won stablecoin on Optimism’s OP Stack, Optimism said on X Wednesday. The proof of concept also involves Sunnyside Labs, whose “Privacy Boost” tool is meant to shield transaction data on a public blockchain while preserving compliance access.

Optimism, the company behind the OP Stack framework used to build layer-2 networks, called the tie-up the fourth time in a year a regulated financial institution has adopted the OP Stack in a new market, following Bitpanda’s Vision Chain in Europe, Kraken’s Ink in the US and Mitsui’s Zipangcoin in Japan.

Kyle Jenke, chief business officer at OP Labs, said the pilot is “about demonstrating that the OP Stack can meet the compliance, privacy, and performance standards that regulated financial institutions require.” Toss chief business officer Q-Ha Steve Kim said the company aims “to build a highly trusted, compliant digital financial infrastructure tailored to the Korean market,” using the same post.

Three-Month Test

The arrangement runs as a three-month proof of concept, according to a post from crypto researcher Jay Chan, covering whether a financial institution can manage settlement, meet KYC and anti-money-laundering requirements, and protect transaction privacy on a public chain at the same time. Toss operates over 500,000 online and offline payment networks, per a summary of Kim’s comments on the deal.

Optimism’s post frames the collaboration as a test rather than a commitment to launch a stablecoin.

The OP Stack already underpins Sony’s Soneium, Uniswap’s Unichain and OKX’s X Layer, among others, giving Toss an established multi-chain ecosystem to plug into rather than building isolated infrastructure. Whether the pilot converts into a live KRW stablecoin will depend on regulatory sign-off in South Korea, which has not yet finalized its stablecoin licensing framework.

U.S. government digital dollar set to be banned tonight under housing law’s CBDC limit

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U.S. government digital dollar set to be banned tonight under housing law’s CBDC limit

The CBDC limit expires at the end of 2030, though there was little chance that a Fed digital currency would have been executed by then. There’s been limited appetite at the central bank, where its previous leadership — even before the arrival of Trump’s newest Fed chair, Kevin Warsh — had long said that such an effort would require backing from the White House and congressional authorization. There’s never been wide support for a CBDC in Congress.

But the idea — strongly opposed by the crypto industry for its potential to compete with privately issued stablecoins — has been pursued in other jurisdictions, such as Europe and China, and it became a popular political target for U.S. politicians. So Republicans managed to slip it into the unrelated housing legislation, after previously trying to include it in a range of bills including the Foreign Intelligence Surveillance Act.

Despite the overall housing bill’s popularity, Trump took an unexpected, last-minute stand against signing it, for which he’d previously scheduled a ceremony and had a stage erected. He declared that he wouldn’t sign anything until lawmakers approved a bill that would impose new proof-of-citizenship and identity checks on voters — an effort without sufficient current support to pass in Congress.

Bitcoin Whales Due Credit for $64,000 BTC Price Rebound, Says CryptoQuant

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Bitcoin Whales Due Credit for $64,000 BTC Price Rebound, Says CryptoQuant

Bitcoin (BTC) demand shifts are “behind” the price rebound to $64,000, new analysis claims.

Key points:

  • New Bitcoin price analysis says that US whales are behind the latest spate of BTC price relief.
  • The Coinbase Premium is above its 14-day moving average, a key sign of strength.
  • Research from Bitcoin Suisse suggests that “something changed” on the market this week.

Bitcoin Coinbase Premium still negative despite trend line reclaim

In a blog post on Friday, onchain analytics platform CryptoQuant attributed Bitcoin’s July upside to US-based whales.

Specifically, the Coinbase Premium — the difference in price between Coinbase’s and Binance’s BTC/USDT pairs — is showing early signs of buy-side momentum “regaining strength.”

“The Coinbase Premium Index for both BTC and ETH remains in negative territory, but both have bounced off their local lows,” contributor Burak Kesmeci wrote. 

“On top of that, both metrics managed to reclaim their SMA14. This is what’s behind Bitcoin’s move from 58K to 64K, and Ethereum’s rally from $1,500 to $1,750.”

Bitcoin Coinbase Premium Index with 14-day SMA. Source: CryptoQuant

Kesmeci referred to the Coinbase Premium Index’s 14-day simple moving average. As Cointelegraph reported, the Index has spent much of 2026 in negative territory, implying weak demand from both large and small investors on the largest US crypto exchange.

“Once again, U.S. whale activity is proving to be the leading data point for trend direction. Short-, medium-, and long-term regime shifts can all be read through this metric,” Kesmeci continued.

The Index currently sits at -0.08, per CryptoQuant data, having last flipped positive on daily time frames more than two months ago.

“The current picture is a catalyst for a short-term bounce — but for a real long-term regime change, this metric needs to break above zero,” Kesmeci concluded.

Bitcoin Suisse: “Bottom signal framework flashing”

 As Cointelegraph reported, institutional demand is also on the radar for market participants.

Related: BTC speculators in focus as analysis says ‘textbook Bitcoin bottom’ is underway

The US spot Bitcoin exchange-traded funds (ETFs) saw their first net inflows after a record-breaking $2.7 billion losing streak.

Data from UK-based investment company Farside Investors nonetheless shows investor sentiment remains sensitive to even small BTC price moves.

On Thursday, a third straight day of net outflows totaled $95.3 million.

US spot Bitcoin ETF netflows (screenshot). Source: Farside Investors

Analyzing a basket of metrics, crypto finance provider Bitcoin Suisse included ETF flow data as one signal that the status quo on the market has changed.

“Eight weeks of ETF outflows. Bitcoin at a 21-month low. This week, something shifted,” it told X followers in a thread on Friday.

Bitcoin Suisse described a “bottom signal framework flashing” while the Crypto Fear & Greed Index remained in its lowest “extreme greed” zone.

Federal Reserve Taps A16z Co-Founder for Monetary Policy Task Force

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Federal Reserve Taps A16z Co-Founder for Monetary Policy Task Force

The US Federal Reserve named Andreessen Horowitz (a16z) co-founder Marc Andreessen to help lead a task force studying how artificial intelligence and other new technologies could affect productivity and jobs.

Andreessen will serve on the Fed’s Productivity and Jobs task force alongside Charles I. Jones, a Stanford University economics professor currently on leave at Anthropic, and Asha Sharma, Microsoft’s executive vice president and Xbox CEO.

The new task force will assess how general-purpose technologies such as AI will affect employment and productivity to better inform the central bank’s policymaking, the Fed said in a Thursday press release.

The group is one of five task forces launched under new Fed Chair Kevin Warsh, each responsible for examining important areas of monetary policy conduct. The other task forces will focus on the Fed’s policy communication, balance sheet policy, data quality and inflation frameworks.

Andreessen co-founded Andreessen Horowitz, which has become one of Silicon Valley’s most influential venture capital firms and a major backer of crypto and AI startups.

Andreessen and Warsh’s ties date back to the early 1990s at Stanford University. During a 2025 interview with CNBC, Warsh said that both Andreessen and Palantir’s Peter Thiel “have been friends from my days in college.” 

Andreessen publicly supported Warsh’s appointment as Fed chairman. “I’ve known Kevin for 30 years; he combines great insight in economics and finance with keen understanding of technology and business,” he wrote in a Jan. 30 X post following US President Donald Trump’s nomination.

Source: Marc Andreessen

Warsh launches Fed task forces

Warsh revealed the leadership-driven overhaul and the creation of the five new task forces during a press conference on June 17.

“These subjects are timely, consequential, and, in my view, worthy of a fresh look,” said Warsh during the press conference, adding that each of these will be independently led by “some of the very best minds—both inside and outside the economics profession.” 

Warsh also said that the central bank will strive to publish policy statements and guidance in shorter, clearer language.

Related: Hyperliquid shows how onchain perps could challenge Wall Street: Pantera

FOMC divided over AI’s economic impact

The Federal Open Market Committee (FOMC) is sharply divided over the economic impact of AI and whether it is an inflationary or disinflationary technology. Some view AI as a long-term disinflationary productivity booster, while others argue that the current spending on AI infrastructure is actively increasing inflation.

During a May 27 speech, Governor Lisa Cook said that she expects AI to further “boost productivity growth, contributing to my expectation that GDP will grow robustly,” but added that it presents the risk of “higher inflation.” 

In former Fed Chair Jerome Powell’s statements from March 2026, he said that data center spending is “putting pressure on all kinds of goods and services” and is “probably pushing inflation up at the margin.” 

Magazine: Strategy sells $216M Bitcoin, Bollinger bullish on BTC: Hodler’s Digest, June 29-July 6, 2026

Hyundai adopts stablecoins for cross-border treasury transfers

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Hyundai adopts stablecoins for cross-border treasury transfers

Hyundai, the world’s third-largest carmaker by vehicle sales, moved a stablecoin-based, cross-border, internal remittance system into production readiness on the Avalanche blockchain, becoming the first major South Korean company to do so.

“Hyundai is the first major enterprise to publicly announce this type of implementation on Avalanche, but the initiative represents more than a technical experiment,” said Justin Kim, head of APAC at Ava Labs, which develops and supports the blockchain platform. “This is already a real treasury management use case, not a sandbox — the pilot moved live USD and USDT between Hyundai Motor’s U.S. and Mexico entities,”

The international transfer comes as stablecoins gain traction beyond crypto trading. Large companies are increasingly testing the technology to move money between subsidiaries, settle cross-border payments and reduce the cost and time associated with traditional banking rails, Lindsey Einhaus, who leads strategy and operations at stablecoin infrastructure firm Bridge, said at Consensus Miami in May.

For the maker of the Kia compact and Ioniq electric cars the first phase involved transferring $20,000 from Hyundai Motor America to Hyundai Motor Mexico by converting dollars into Tether’s USDT stablecoin before converting the funds back into dollars.

Circle takes banking step with U.S. trust bank approval

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Circle takes banking step with U.S. trust bank approval

Circle (CRCL), the issuer of the world’s second largest stablecoin USDC, received approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.

National trust banks are authorized to provide users with custody and fiduciary services but do not accept consumer deposits or make loans like traditional commercial banks.

Shares are higher by 14% in pre-market trading.

“OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the U.S. financial system,” Circle CEO Jeremy Allaire said Friday in a statement announcing the milestone. “Federal oversight of our trust bank sets a new standard for transparency, governance, and scale for Circle’s infrastructure.”

The move comes as crypto firms such as Kraken, increasingly seek federal charters, licenses and banking approvals. Crypto.com secured an OCC license in February to operate as a federally regulated crypto custodian bank. BitGo, Circle, Ripple, Paxos, and Fidelity Digital Assets all received similar conditional approvals in December. The OCC upgraded BitGo’s approval to unconditional immediately after.

OKX, MetaMask, Matter Labs back dispute resolution court for AI agents

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OKX, MetaMask, Matter Labs back dispute resolution court for AI agents

A group of crypto and Web3 firms that includes OKX, MetaMask, Matter Labs and Genlayer have formed the “Internet Court” to reach dispute resolutions between AI agents.

These days, AI agents negotiate and pay one another without humans in the loop, but as with human-to-human transactions, agent-to-agent transactions will run into contractual disagreements.

The problem is that agentic systems have no way to settle these disputes, and traditional courts are not built to handle such cases. Hence the need for the 27-firm-backed protocol, led by the Genlayer Foundation, which makes AI-based payments, escrow and dispute resolution interoperable, according to a press release.

Agentic commerce is not prepared for the potential fallout when agents disagree at machine speed, according to David Riudor, CEO and co-founder of the GenLayer Foundation. “Internet Court is the shared place agents can turn to when a deal goes wrong. Machine-speed money needs machine-speed adjudication,” he said.

A key problem the dispute protocol solves is interoperability between a variety of AI commerce systems. Agentic commerce is certainly charging ahead but the infrastructure underpinning this new economy is still highly fragmented.

Binance Seeks New Crypto Licenses After MiCA Shift

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Binance Seeks New Crypto Licenses After MiCA Shift

Binance is in talks with regulators that have invited the exchange to apply for crypto licenses following its withdrawal from the Markets in Crypto-Assets Regulation (MiCA) application in Greece, according to co-CEO Richard Teng.

Teng said at the Reuters NEXT Asia conference in Singapore on Thursday that the discussions are still “premature” and declined to identify the jurisdictions. 

MiCA created a single licensing framework for crypto firms across the European Union. After the bloc’s transition period expired on July 1, the European Securities and Markets Authority said crypto firms must serve EU clients through a MiCA-authorized entity, with limited exceptions for unsolicited cross-border business.

Binance withdrew its application for a MiCA license in Greece on June 24, after reports surfaced that Greek regulators were planning to reject the exchange’s licensing bid.

“It caught us by surprise because we submitted a fully compliant application. The regulators told us as much,” Teng said.

“We are not quite sure why the approval kept being delayed. We withdrew the application because otherwise our users would have faced a very short transition period,” he added.

Related: EU crypto rulebook faces enforcement challenge as MiCA transition ends

EU users withdraw assets to self-custody

Teng argued that many European users opted for self-custody rather than transferring their assets to MiCA-authorized exchanges.

“Of the users in the EU [who] have subsequently withdrawn their funds out of our platform, 70% of those funds went to self-hosted wallets. Only 30% flowed to MiCA-regulated entities,” Teng said.

He questioned whether MiCA is meeting its consumer protection objectives, arguing that self-hosted wallets receive less regulatory oversight than licensed exchanges.

Binance recorded $1.23 billion in net outflows during the week beginning June 29, up 207% from roughly $400 million the previous week, according to DefiLlama data reviewed by Cointelegraph.

The transition has also intensified competition among exchanges holding MiCA licenses. OKX said in a statement that its app downloads rose 158% between June 24 and July 5, citing Sensor Tower data.

Binance questions MiCA’s impact

Beyond Europe, Teng said Binance continues to expand its regulatory footprint in Asia, citing its partnership in the Philippines.

“We have deployed in many places in Asia now, from Japan to Korea to Thailand, Indonesia, Australia. We just announced the Philippines. A few more are coming,” Teng said.

Related: ESMA turns spotlight on crypto custody risks after MiCA transition

Binance reentered the Philippine market through a partnership with BlockShoals Technologies after regulators moved to restrict access to the exchange in 2024. However, neither Binance nor BlockShoals is licensed by the Bangko Sentral ng Pilipinas to handle peso transfers or other central bank-regulated virtual asset services.

In a June interview with Cointelegraph, BlockShoals’ head of legal, Marie Antonette Quiogue, said the arrangement allows Binance to offer crypto trading because those activities fall under the jurisdiction of the Philippine Securities and Exchange Commission, while services regulated by the central bank would require separate authorization.

Magazine: The 5 types of real world assets being tokenized fastest onchain

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