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Bitcoin Holds Weekly Gains After US Jobs Data, AI Sector Weakness

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Key takeaways:

  • Soft US jobs market data triggered a rotation of capital from overheated AI stocks into Bitcoin and gold.
  • Bitcoin onchain indicators hint at seller exhaustion while the decline in oil prices opens room for monetary expansion.

Bitcoin reclaimed the $61,000 mark following a disappointing US job market report. Traders grew less certain of a near-term interest rate hike from the US Federal Reserve (Fed) given the worsening labor data. The tech-heavy Nasdaq index sold off, fueling hopes of a capital rotation favoring Bitcoin.

Nasdaq 100 Index futures (blue) vs. Bitcoin/USD (orange). Source: TradingView

The Nasdaq 100 Index erased gains from the three prior days, while Bitcoin distanced itself from Wednesday’s $57,750 low. US non-farm payrolls increased by only 57,000 in June, missing the 113,000 expected, according to Yahoo Finance. The US Labor Department also revised data for April and May downward by 74,000 jobs.

Gold prices reacted positively on Thursday, hinting at potential bullish momentum for scarce assets. The weak economic data prompted investors to cut odds of Federal Reserve interest rate hikes by September to 54% from 64% the prior day, according to the CME FedWatch Tool. Meanwhile, crude WTI oil prices stabilized below $70, opening the door for possible economic stimulus measures

Gold/USD (red) vs. Crude WTI oil (teal). Source: TradingView

Oil prices dropped after the Qatar Foreign Ministry cited “positive progress” in the latest round of discussions between US and Iranian representatives on Wednesday. Gold recovered some of the 8% losses accumulated over the prior two weeks, a possible sign that investors anticipate a less tight monetary policy and further FED balance sheet expansion.

US Federal Reserve total assets, USD millions. Source: FED St Louis

The Federal Reserve balance sheet stagnated at $6.73 trillion, although its mandate allows for $40 billion monthly purchases in short-term Treasuries and bonds. Weak job market data and reduced inflationary pressure are widely seen as catalysts for accelerated liquidity injection, creating incentives to invest in scarce assets, including gold and Bitcoin.

Overheated AI stocks clash with Bitcoin flashing a bottom

Weakness in the AI sector, especially among chipmakers, has led traders to anticipate capital shifting toward alternative assets. Shares of SanDisk, Seagate, Western Digital, and Applied Materials saw intraday losses of 9% or higher on Thursday. In contrast, Bitcoin is showing signs of seller exhaustion two months after rejection at $82,500.

Related: Bitcoin tops $60K amid Fed inflation talks–Is bull trap or $65K next?

Source: X/gaah_im

Onchain analyst and CryptoQuant author gaah_im said that Bitcoin’s realized profit-to-loss ratio has hit its lowest level since 2022. The net percentage of supply in profit relative to the total supply has turned negative, which historically has marked cycle bottoms with “extreme precision,” according to the analyst. In essence, onchain data hints at further Bitcoin upside.

Part of Bitcoin’s recent weakness stems from traders’ disappointment with Strategy. Despite a healthy 8% net leverage and $56.8 billion in enterprise value, holders faced dilution from accelerated MSTR share issuance used to buy back some debt and cover dividends on preferred stocks.

If weakness in the AI sector accelerates, some of that money will likely rotate into gold and Bitcoin, making a near-term recovery to $70,000 possible.

Warren Pushes to Bar Trump Family From Crypto Profits After $1.4B Disclosure

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Senator Elizabeth Warren is pushing to add a provision to pending Senate crypto legislation barring President Trump, his family and senior officials from profiting off digital assets, after a disclosure showed his crypto ventures made more than $1.4 billion last year.

Senator Elizabeth Warren is pushing to add a provision to pending Senate crypto legislation that would bar President Trump, his family, and other senior officials from profiting off the digital asset industry. The push follows a financial disclosure showing Trump’s crypto ventures generated more than $1.4 billion in his first year back in office.

“The crypto legislation heading to the Senate floor must prevent the President, Vice President, senior administration officials, members of Congress, and their families from profiting off the crypto industry,” Warren, the top Democrat on the Senate Banking Committee, said in a statement after Trump’s disclosure was released. “If it does not, it will only turbocharge Donald Trump’s brazen crypto corruption.”

Disclosure Numbers

Trump’s annual financial disclosure, released Tuesday by the Office of Government Ethics, showed the president was paid roughly $2.2 billion in total income last year, with crypto ventures making up the largest single slice. World Liberty Financial, the Trump family’s venture with Middle East envoy Steve Witkoff, brought in more than $500 million from governance token sales, while CIC Digital LLC generated more than $600 million from Trump-branded meme coins launched days before his second inauguration, according to the Guardian.

Warren’s Escalation

Warren followed up Thursday with a sharper post on X, writing that “Donald Trump is using the Trump family crypto businesses to make himself richer” and that “any crypto bill must ban Trump and his family from profiting off crypto.” She warned that without the restriction, “Congress is turbocharging corruption.”

The legislation Warren referenced is the crypto market-structure bill working through the Senate, which The Defiant reported was already the subject of ethics-related negotiations between a White House official and Senate Democrats as of late June, ahead of a planned floor vote.

Trump’s Response

Asked about the disclosure figures, Trump waved off the scrutiny. “I made a lot of money before I became president,” he told reporters, according to the Guardian. The White House has maintained that Trump’s businesses are run by his adult sons and walled off from his official duties.

Warren is not alone in pressing the point. Other Democrats, including California Governor Gavin Newsom and Minnesota Governor Tim Walz, criticized the disclosure this week, though neither holds a vote on the pending Senate bill.

A floor vote on the crypto market-structure legislation has not been scheduled. Whether Warren’s proposed restriction survives into the final bill will depend on the ethics negotiations already underway between Senate Democrats and the White House.

Bitcoin rises above $61,000 as U.S. jobs data for June disappoints

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The U.S. added 52,000 jobs in June, according to the government’s Nonfarm Payrolls Report. Economist forecasts had been for 110,000 and May’s gain was 129,000, revised down from an originally reported 172,000.

The unemployment rate, however, did dip to 4.2%, against forecasts that it would remain flat at 4.3%. That decline occurred alongside a sizable drop in the labor force participation rate to 61.5% from 61.8%.

Up sharply ahead of the data, bitcoin remained at 61,300 immediately following the report, ahead about 4% over the past 24 hours.

U.S. stock index futures were on the rise following the soft print, the Nasdaq higher by 0.7%. The 10-year Treasury yield dipped about four basis points to 4.46%, and the 2-year yield fell five basis points.

ChatGPT developer OpenAI reported to discuss offering U.S. government a 5% stake

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OpenAI has explored the idea of granting the U.S. government a 5% equity stake as part of efforts to strengthen ties with the Trump administration and broaden public participation in the benefits of artificial intelligence, the Financial Times reported on Thursday.

The proposal, which remains in the conceptual stage, was reportedly raised by OpenAI CEO Sam Altman during early discussions with U.S. officials, the FT said, citing two people familiar with the talks.

The idea would see leading U.S. AI companies contribute similar shares of equity to a public investment vehicle, drawing inspiration from Alaska’s Permanent Fund, which distributes returns from state investments to residents.

The initiative is intended to address growing political scrutiny of the industry by giving the public a direct financial stake in the sector’s long-term growth. Discussions reportedly involved senior Trump administration officials, including Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, although any such arrangement would likely require Congressional approval.

It’s unclear whether other companies with interests in AI, including Anthropic, Google (GOOG) and Meta (META), would support the proposal, the FT said.

OpenAI, the developer of ChatGPT, declined to comment to the FT. CoinDesk has reached out to OpenAI for further comment.

The San Francisco-based company confidentially filed draft IPO paperwork with the U.S. Securities and Exchange Commission (SEC) in June. The company has since indicated it has not committed to a listing timeline. Recent reports suggest advisers are weighing a delay until 2027.

Smaller tokens Memecore’s M, Auderia’s beat lead as bitcoin, sol rally in ‘first real bounce of the selloff’

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Smaller speculative tokens are surging as bitcoin and other major tokens extend Wednesday’s advance. The CoinDesk 20 Index rose almost 5% in 24 hours to its highest in a week, with all members in the green.

Memecore’s M and Audiera’s BEAT have gained 81% and 12%, respectively, making them the best performers among the top 100 coins by market value. At No. 3, Venice Token (VVV) is up 9%.

Bitcoin, the largest cryptocurrency, added more than 4% to $61,200, and ether (ETH), the second-largest, rose 5%. Solana’s SOL gained 9% as the network unveiled an onchain governance system that requires staking at least 100,000 tokens to submit proposals. XRP is up almost 4%.

“First real bounce of the whole selloff, and it has something behind it,” analysts at Marex said in an email. “[Federal Reserve Chairman Kevin] Warsh told Sintra that inflation risks have come down, the July hike bet got walked back, and BTC ripped back over $60k for the first time in a week. SOL is the star, up roughly 16% on the week and leading everything.”

Kevin Warsh comments set the stage for nonfarm payrolls data to ignite BTC, gold rally: Crypto Daily

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The debasement trade, where investors move money out of fiat currencies like the dollar and into “hard assets” with limited supply, such as bitcoin and gold, could be back in vogue if Thursday’s U.S. nonfarm payrolls data backs up Fed Chair Kevin Warsh’s latest take on inflation.

On Wednesday, Warsh said inflation risks have come down. That comment sparked a quick reassessment of Fed interest-rate increase prospects and triggered a bounce in both the largest cryptocurrency and the precious metal. Bitcoin has already pushed above $61,000, while gold has stabilized above $4,050 after dipping to $3,942 earlier this week.

These budding recovery rallies could really accelerate if the jobs data due at 8:30 a.m. ET shows clear labor-market weakness. Economists expect a 110,000 increase in jobs for June, down from 172,000 in May, with the unemployment rate holding steady at 4.3%. Average hourly earnings are forecast to edge up to 3.5% from 3.4%.

MiCA became law 3 years ago, now Europe’s crypto framework is undergoing a rethink

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European authorities are also debating how to treat multi-issuance stablecoins, such as Circle Internet’s (CRCL) USDC, which can be minted by multiple distinct legal entities across different jurisdictions, yet presented to users as a single, fungible token.

When MiCA was designed, it was definitely the European Commission’s intention to support multi-issuance models, according to Catarina Veloso, director, regulatory and compliance at Notabene, a protocol designed to bring crypto transactions into the everyday economy. But during the implementation stage, different stakeholders within the EU, including the ECB, pushed back because they have their own views on the resulting risks.

The real value of stablecoins is that they are natively global, said Veloso. To impose geographic limits would create a scenario where Circle Europe, now licensed under MiCA, would need to build its own fragmented version of USDC for European markets, she said.

“One of stablecoin’s main value-adds is that it’s not a payment system built within a specific jurisdiction,” Veloso said in an interview. “So that value is diluted by the fact it’s now being captured by regulatory frameworks that do exist within borders.”

Taking control

Unrelated to stablecoins, another key area of discussion is the possibility of more centralized control of MiCA, under the auspices of the European Securities and Markets Authority (ESMA).

Nasdaq listed Korean Media firm that once wanted to buy 10,000 bitcoin sells all its BTC, pivots to AI

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It is moving from a weak position. Shares closed near 16 cents on June 29, and Nasdaq has twice warned the company this year that it no longer meets listing rules, in January for trading below $1 and again in June because its publicly held shares are worth less than the $15 million minimum.

K Wave is considering a reverse stock split, which combines shares into fewer, higher-priced shares to raise the quoted price. The $250 million it hopes to raise is many times its entire market value.

The retreat fits a pattern followed by bitcoin miners.

These firms have sold more than 15,000 bitcoin from peak holdings and signed over $70 billion in AI computing contracts, chasing steadier margins than mining offers, and treasury companies are now joining that rotation. And it worked for some of the struggling miners, as their stock rallied from their lows. For example, IREN, a previously bitcoin mining company that pivoted to AI, saw its shares surge more than 200% after languishing since 2022.

It is the same shift of money out of crypto and into the AI trade that has weighed on bitcoin through a losing first half.

Whether the switch works remains unproven so far. AI infrastructure is capital-heavy and crowded with better-funded rivals, and K Wave has to stay on Nasdaq long enough to spend what it raises.

Bitcoin ‘Green July’ Starts With A Bang As US Jobs Data Sends BTC To $62,000

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Bitcoin (BTC) passed $62,000 at Thursday’s Wall Street open as crypto reacted to weak US employment figures.

Key points:

  • US nonfarm payrolls data delivers a crypto market boost as job additions for June fall short.
  • Investors eye an easing in the inflation outlook as optimism over BTC prices increases.
  • Crypto begins its forecast “green July” by liquidating nearly $500 milllion of short positions.

Bitcoin gains amid “volatile situation” for US labor market

Data from TradingView showed new July highs of $62,137 on Bitstamp, with BTC/USD up nearly 4% on the day.

BTC/USD four-hour chart. Source: Cointelegraph/TradingView

The latest nonfarm payrolls data from the Bureau of Labor Statistics (BLS) showed that the US added far fewer jobs than expected in June, at 57,000 versus the anticipated 114,000.

“Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in June,” an official news release stated.

US unemployment data. Source: BLS

The jobs numbers painted a weak picture of the labor market — a potential tailwind for risk assets should the Federal Reserve loosen financial policy as a result.

“May’s jobs number was also revised down by -43,000 jobs,” trading resource The Kobeissi Letter noted in a reaction on X

“The labor market remains in a volatile situation.”

As Bitcoin and altcoins headed higher, crypto trader and analyst Michaël van de Poppe was among those shifting toward a more optimistic mid-term market view.

“Inflation expectations have come down. Now, unemployment drops too. It’s at its lowest level in close to a year. Those are strong, public signals about the direction of the markets,” he told X followers. 

“I don’t think we’ll see another drop on Bitcoin if Bitcoin can clearly break through $65,000 from here.”

Bitcoin “buyers are back and strong”

Other market participants also drew attention to Bitcoin bulls’ newfound strength.

Related: Bitcoin bear market ‘dead’ after first TD9 reversal signal since July 2022 fires

“Price drilling through large asks on Binance perps orderbook is actually sign of strength. Plus, we have chasing bids supporting aggressive buyers,” commentator Exitpump reported about exchange order-book data. 

“Buyers are back and strong.”

BTC/USDT chart with order-book liquidity data. Source: Exitpump/X

Data from CoinGlass put 24-hour crypto short liquidations at nearly $450 million at the time of writing. 

BTC/USD vs. cryptocurrency liquidations (screenshot). Source: CoinGlass

“Welcome to green July,” trader and analyst Rekt Capital continued.

As Cointelegraph reported, Rekt Capital expects a July relief rally for Bitcoin before bear-market momentum resumes in August.

An accompanying chart, which featured the 21-month and 50-month exponential moving averages (EMAs), drew comparisons to the 2022 bear market, with the implication that the cycle lows were still to come.

“And once Bitcoin turns the 50 EMA into new resistance on this relief rally, it will likely enter additional Bearish Acceleration over time,” Rekt Capital added in a separate X post.

BTC/USD one-month chart with 21, 50EMA. Source: Rekt Capital/X

Crypto Exchanges Cross New Wall Street Line With First US Stock Options Offering

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  • Bitget has launched US stock options for eligible users, adding long calls and long puts on leading US-listed companies to its Stock+ product.
  • This is a first for major crypto exchanges and reflects a broader push to combine crypto, equities, commodities and traditional derivatives inside one multi-asset trading platform.

Bitget has launched US stock options, adding another traditional market product to a crypto exchange model that is increasingly moving beyond digital assets.

Eligible users can now trade options on leading US-listed companies through Bitget’s Stock+ product, the company mentioned in a statement shared with AlexaBlockchain.

The initial rollout supports single-leg long calls and long puts, giving traders a way to take bullish or bearish positions while limiting buyer risk to the premium paid.

Bitget said the move makes it the only major crypto exchange currently offering US stock options alongside crypto, contracts for difference and markets tied to gold, foreign exchange, commodities and indices.

The launch comes after Bitget expanded into US stock access in June through Stock+, a feature that lets users buy shares in US-listed companies using digital assets and routes orders through regulated US brokers, according to reports at the time.

It also follows Bitget’s earlier push into tokenized equities.

In June, the company said its Stocks 2.0 product linked tokenized equities to real US market liquidity. Bitget said its cumulative tokenized-stock spot volume had crossed $1 billion in January 2026, while stock futures had exceeded $10 billion in cumulative trading volume.

Options add a more complex instrument to that strategy.

A call option gives the buyer exposure to potential upside in a stock. A put option gives exposure to downside moves or can be used to hedge an existing position.

For buyers, the loss is limited to the premium paid.

That does not make the product low-risk. If the expected move does not happen before expiry, the option can expire worthless.

“We have consistently moved first to connect stock opportunities with our users,” said Gracy Chen, CEO at Bitget. “This has been rewarding to us and users alike. From tokenized stocks to now options, we are executing on convergence. This is innovation crypto was born to push, our products are way ahead of its time in providing advanced trading access to stocks, gold, crypto and worldwide assets.”

The timing is worth noting because US options trading has become one of the fastest-growing areas of retail and institutional market activity.

OCC data showed total US options volume reached 15.21 billion contracts in 2025, up 24.4% from 2024. Cboe said 2025 was the sixth straight annual record for US listed options, driven by equity-market gains, volatility and stronger retail and institutional participation.

That demand has helped make options a core product for modern brokerages.

It also creates for crypto exchanges a new front in the competition to become all-in-one trading platforms. The pitch is simple: users who already hold stablecoins or crypto assets may want access to stocks, options, gold and FX without moving money back into a traditional brokerage account.

Bitget is not alone in that broader direction.

Robinhood launched tokenized US stocks and ETFs for European users in 2025, while Kraken offers tokenized US stocks and ETFs through xStocks. Those products helped push the idea of stock exposure inside crypto-style trading apps, although many tokenized products do not provide the same rights as direct share ownership.

Other exchanges have also moved from tokenized products toward direct stock access.

MEXC launched RealStocks in 2026, letting users buy real shares in US-listed companies and collect dividends while settling trades in USDT. That reflected a broader shift from synthetic stock exposure toward products that more closely resemble brokerage access.

The results have been mixed.

Tokenized equities have attracted attention because they can offer fractional access, faster settlement and extended trading hours. But they have also faced questions around ownership rights, liquidity, regulatory treatment and whether token holders have a direct claim on the underlying shares.

Those issues matter for Bitget’s options launch.

Options are already regulated, risk-sensitive products in traditional markets. Bringing them into a crypto exchange environment may broaden access, but it also raises the importance of eligibility checks, disclosures and jurisdictional controls.

The appeal is obvious for traders.

Stock options can be used around earnings, macro events and large moves in shares such as Nvidia, Tesla or other heavily traded US names. They can also allow traders to define their maximum loss before entering a position.

The initiative is about product convergence. Bitget is trying to position itself as a “Universal Exchange,” where crypto, equities, tokenized assets, derivatives and commodities sit inside one trading environment.

Stock options give that model a more Wall Street-like product set.

The first version is intentionally limited.

Bitget said the launch focuses on single-leg options buying, while more advanced multi-leg strategies are planned later. Eligible users who complete their first US stock options trade may receive $15 worth of Nvidia stock, subject to campaign terms and regional availability.

The larger question is whether crypto exchanges can win trust in products that sit closer to regulated securities markets than to spot crypto trading.

If they can, the boundary between brokerage apps and crypto exchanges will keep narrowing.

The above article “Crypto Exchanges Cross New Wall Street Line With First US Stock Options Offering” was first published on AlexaBlockchain. Read the complete article here: https://alexablockchain.com/crypto-exchanges-cross-new-wall-street-line-with-first-us-stock-options-offering/

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