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Drop is a cross-chain liquid staking protocol on a mission to strengthen the economic viability of Interchain economies by transforming stagnant, frozen resources into flowing streams of opportunity.
Analyst: Bitcoin Chip Concentration Approaches Pre-FTX Collapse Levels, May See Final Bear Market Drop
Analyst Murphy stated that Bitcoin's current chip concentration is similar to that before the 2022 FTX collapse, and a highly concentrated chip structure could amplify price volatility. Jiang Zhuoer believes that if the CLARITY Act fails to pass before Congress adjourns, Bitcoin may witness the final drop of the bear market.
Analysts: Bitcoin at Key Technical Indicator Level, Could Drop Further 30%
Miller Tabak strategist Matt Maley and 22V Research technical strategist John Roque believe Bitcoin is at a key technical indicator level.Matt Maley stated that if Bitcoin declines further from its current level of around $60,000, it could amplify negative investor sentiment. Although Wall Street firms continue to invest in digital assets, retail investors, who have historically been the main force driving cryptocurrency rallies, have shifted their focus to high-growth AI and tech stocks. Recent significant outflows from Bitcoin ETFs indicate waning investor enthusiasm. Cryptocurrencies are also showing signs of decoupling from the stock market.John Roque noted that Bitcoin is retesting its first downside target of $60,000. If it breaks below this level, it implies a potential drop to $400,000. Matt Maley added that Congress might pass a crypto structure bill with clearer rules, which would reduce uncertainty and encourage institutional participation in the long run. Furthermore, Bitcoin ETFs experienced their largest monthly outflow since 2024 recently. (CNBC)
South Korea’s FIU May Drop Mandatory STR Reporting Requirement for Large Virtual Asset Transfers; Travel Rule Expansion Plan Continues
South Korea’s Financial Intelligence Unit (FIU) plans to discontinue its push for mandatory Suspicious Transaction Reports (STRs) for large cross-border virtual asset transfers and peer-to-peer wallet transfers, while continuing to expand the scope of Travel Rule oversight to further strengthen digital asset transaction tracing.
Analyst: History May Repeat Itself, Bitcoin Price Could Drop to $33,000
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
Sustained Crude Oil Drop Forces a Whale Who Went Long 60 Times to Exit in Regret, Net Loss of $2.43 Million from Multiple Historical Liquidations
According to Hyperinsight monitoring, the whale starting with 0xc278 has completed a total of 61 rounds of BRENTOIL trades since trading Brent Crude Oil on March 19, among which 59 rounds were long positions and only 2 rounds were short positions, with the long position ratio reaching 96.7%. All 61 rounds of trades resulted in a total net loss of approximately $2.431 million, with million-dollar-level heavy positions accounting for 99.4% of the losses.
Analyst: Bitcoin Chip Concentration Approaches Pre-FTX Collapse Levels, May See Final Bear Market Drop
Analyst Murphy stated that Bitcoin's current chip concentration is similar to that before the 2022 FTX collapse, and a highly concentrated chip structure could amplify price volatility. Jiang Zhuoer believes that if the CLARITY Act fails to pass before Congress adjourns, Bitcoin may witness the final drop of the bear market.
Bitcoin Selling Pressure Easing? Realized Losses Drop 56% from Peak, but Demand Recovery Remains Weak
According to Odaily, CryptoQuant analyst Axel Adler stated that the current bear market phase for Bitcoin has seen the highest level of realized losses among holders. The 30-day moving average (30DMA) of realized losses peaked at $1.37 billion in February 2026, 19% higher than the $1.15 billion peak during the 2022 cycle. Data shows that since the February peak, Bitcoin realized losses have dropped by 56.5% to approximately $597 million. Meanwhile, the scale of realized profits has only slowly recovered to $257 million. Axel Adler pointed out that loss-driven selling pressure has significantly weakened, but the market has not yet seen sustained demand recovery, with the decline in losses still outpacing the recovery in profits.From a historical cycle comparison, realized losses reached $1.37 billion on February 20, 2026, a new all-time high for this metric. The highest realized loss in the 2022 cycle was $1.15 billion, recorded on June 30, 2022. In terms of realized profits, as of July 23, Bitcoin's realized profit 30DMA stood at $257 million, down 92.7% from the peak of $3.51 billion recorded on December 10, 2024. It is also down 77.7% from the level on October 6, 2025, when Bitcoin hit its all-time high of $124,710. This metric bottomed out at $191 million on June 14, 2026, and has since recovered by 34.7%.Axel Adler stated that profit-driven selling pressure has dropped significantly, and the volume of coins being sold for profit is currently at a low level for this cycle. However, this does not mean that sellers have been completely exhausted, nor does it imply that market demand has recovered. If realized profits consistently rise above the $400 million to $500 million range, it would better confirm a sustained market improvement.Additionally, the Bitcoin realized profit/loss ratio has recovered from a low of 0.26 in June to 0.43, but remains below the 1.0 level. The analyst noted that while the absolute scale of realized losses in the current cycle exceeds that of 2022, the relative market pressure is still lower than in 2022. Since Bitcoin's all-time high, realized losses have exceeded realized profits on 190 out of the past 291 days. Axel Adler cautioned that if the profit/loss ratio breaks below 0.26 again, accompanied by a price drop below the cycle low of $58,535 established on June 30, it could signal further escalation of market pressure.
Analyst: Bitcoin Reserves in Miner-Associated OTC Addresses Drop Nearly 72% from 2021 Highs
CryptoQuant analyst Axel Adler Jr. stated that data shows since November 2021, the Bitcoin balance held by miner-associated over-the-counter (OTC) addresses has decreased from 500,000 to 139,700, a cumulative decline of nearly 72%. This trend has continued for over four years, indicating that the Bitcoin reserves of this group are continuously shrinking.
Analyst: Memory Chip Sector Underlying Logic Re-evaluated, Leading Stocks Drop Over 20% in Past Few Weeks
According to CCTV Finance, the US stock memory chip sector encountered a collective correction after hitting a high in late June, with industry leaders such as SanDisk, Micron Technology, Seagate Technology, and Western Digital seeing stock price declines of over 20% in the past few weeks. The triggering factor was Meta selling computing power, which sparked market concerns about a surplus in computing power, while the core variable lies in whether the technical gaps between various AI large models will continue to narrow. Industry insiders point out that the memory chip industry has historically exhibited significant cyclicality—during booms, manufacturers collectively expand production leading to plummeting prices and industry-wide losses, followed by collective contraction in capital expenditure. Meanwhile, the industry's business model is undergoing profound changes, with cloud vendors and AI data centers increasingly signing 3-to-5-year long-term supply agreements with original manufacturers, including price ranges and minimum purchase volumes, to ensure the stability of key supply chains.
TAC Responds to Sharp Price Drop: No Attack, No Internal Sell-Off, Decline Triggered by Chain Reaction of Contract Liquidations
According to official sources, TAC issued a statement regarding the significant price drop in the past 24 hours, stating that the protocol was not attacked, on-chain assets are secure, and the system is operating normally; the team and early investors did not participate in the sell-off, relevant tokens remain in the lock-up and vesting period, and there is no possibility of unlocking at this stage.
TAC Responds to Sharp Price Drop: No Attack, No Internal Sell-Off, Decline Triggered by Chain Reaction of Contract Liquidations
According to official sources, TAC issued a statement regarding the significant price drop in the past 24 hours, stating that the protocol was not attacked, on-chain assets are secure, and the system is operating normally; the team and early investors did not participate in the sell-off, relevant tokens remain in the lock-up and vesting period, and there is no possibility of unlocking at this stage.
Kelp Incident Causes ZRO to Drop; A Whale Loses $2.88 Million as Part of Long Position Liquidated
According to on-chain analyst Onchain Lens (@OnchainLens), Kelp DAO lost approximately $294 million in the cross-chain bridge exploit. As a result, $ZRO dropped from $2 to $1.40. A whale holding a long $ZRO position on HyperLiquid was partially liquidated, incurring a loss of $2.88 million. The whale still holds the position, with an unrealized loss exceeding $750,000 and a total loss of approximately $28.98 million.
Bonk Guy Responds to SI Drop: A Healthy Pullback, $100 Million Market Cap May Be the Next Target
Bonk Guy posted on X platform stating that Super Inu (SI) surpassed 60,000 holders within one week of launch, with over 30,000 new holders added in a single day. On-chain trading volume exceeded $110 million over the past two days, with cumulative on-chain trading volume of approximately $163 million over the past 7 days. Bonk Guy also noted that no other Meme coin has achieved similar data in this cycle or over the past year.Regarding the SI price decline, Bonk Guy added that SI's market cap had previously risen from $3 million to $70 million and is currently undergoing a very healthy pullback. He believes that a $100 million market cap could become the next target of focus and is optimistic about its future performance.According to GMGN data, SI's market cap is currently at $34.46 million, down over 22% in 24 hours.Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.
Sequans Communications Announces Exit from Bitcoin Treasury Strategy, Holdings Drop to 314 BTC at End of Q2
According to the official announcement from Sequans Communications (NYSE: SQNS), the company released its preliminary financial report for Q2 2026 on August 4 and announced a gradual exit from its Bitcoin treasury strategy. The company continued to orderly reduce its Bitcoin holdings in Q2, holding 314 BTC at the end of the period, with a market value of approximately $18.4 million, a significant reduction from 1,514 BTC at the end of Q1; net gains from Bitcoin sales in Q2 amounted to $5.3 million. Meanwhile, with the full redemption of convertible bonds completed in May, the company officially entered a debt-free status, with cash at the end of the period reaching $20.97 million, nearly double the $10.6 million at the end of Q1.
Meme or Self-proving? "ByteDance Stock Trading 30 Million Financial Freedom" Individual Claims "Returned Hometown to Work as Security Guard and Delivery Driver," English-only Posts See Over 90% Drop in Views
Odaily Odaily News Recently, @leto_bao, who became an internet sensation with the persona of achieving "financial freedom through stock trading at ByteDance with 30 million RMB," responded to rumors on the X platform. He claimed, "I have returned to my hometown. I work as a security guard in an office building during the day, deliver food at night, set up a barbecue stall in the early morning, and sell breakfast at the school gate in the morning. I only sleep 3 hours a day, shuttling between McDonald's and hospital outpatient clinics. I dare not go home because debt collectors block my door every day. For meals, I open free treasure chests; for showers, I use the company bathroom. I have already reached a repayment plan with the bank, expecting to clear the debt in 50 years. Please stop making fun of my suffering."The community speculated that it might be for entertainment effect, a playful response using memes. However, some people questioned in the comments that he still hasn't provided solid proof of his investments, suggesting it's merely hype. Others even claimed to have found records of his previous failed attempts to build an online presence.Subsequently, he stated bluntly: "I will no longer post in Chinese. The Chinese circle on X is very toxic—filled with anger, bot accounts, and no real discussion. Everyone is chasing creator rewards rather than genuine communication. My posts haven't received any feedback worth responding to. I feel I can get more from the English community here." However, the viewership of his subsequent tweets plummeted from hundreds of thousands to only around 40,000 to 70,000.
TAC Responds to Sharp Price Drop: No Attack, No Internal Sell-Off, Decline Triggered by Chain Reaction of Contract Liquidations
According to official sources, TAC issued a statement regarding the significant price drop in the past 24 hours, stating that the protocol was not attacked, on-chain assets are secure, and the system is operating normally; the team and early investors did not participate in the sell-off, relevant tokens remain in the lock-up and vesting period, and there is no possibility of unlocking at this stage.
BIT: AI Stock Sell-off Triggers BTC Drop Below $60,000, Market Shows "Orderly Decline" Rather Than Panic
According to the weekly market report released by BIT Official, heavy selling in semiconductor and AI stocks on June 23-24 triggered defensive adjustments by institutional capital. BTC fell below $60K on June 24, hitting a low of ~$59,000 (intraday decline of approximately 5%). Approximately $994 million in liquidations occurred during the same period (of which approximately $780 million were long positions). Approximately $1.2 billion in nominal Put positions at the $60K level forced market makers to short, exacerbating the downward trend. As of the weekend, BTC was quoted at ~$59,992, down 6.9% for the week; ETH was quoted at ~$1,578, down 9.3% for the week. In terms of volatility, DVOL only rose slightly (BTC 44.1→45.7, ETH 57.3→59.5), front-end skew tended to stabilize, and convexity returned to normal. The institutional defensive hedging ratio decreased from 29.6% to 19.7%, shifting towards two-way balance, overall showing characteristics of an "orderly decline" rather than panic selling. In terms of ETFs, for the week ending June 26, US spot BTC ETFs saw net outflows of approximately $1.79 billion, marking the second-highest weekly outflow record in history, and have seen net outflows for 7 consecutive weeks; IBIT net assets decreased to approximately $44.4 billion, with average holders having an unrealized loss of approximately 40%. Strategy purchased only 520 BTC this week (approximately $34.9 million), significantly slowing down compared to the previous two weeks. MSTR stock price has fallen below its BTC book value, and the flywheel effect has been affected
Bybit Releases Latest Options Weekly Report (June 2–8): Head-and-Shoulders Target Fully Exceeded; BTC Records Largest Weekly Drop Since FTX Collapse
Bybit’s latest options weekly report states that all four directional predictions for this week were fulfilled: BTC hit a low of $59,130—surpassing the prior target range of $65,000–$67,000. Opening last week at $73,760 and plunging to $59,130, BTC recorded its largest single-week decline since the FTX collapse (roughly −20%). It has since rebounded to $63,000. Three bearish catalysts recently converged: stronger-than-expected NFP data reigniting rate-hike expectations; SpaceX’s IPO siphoning liquidity; and Strategy selling BTC for the first time in four years. Spot Bitcoin ETFs saw a record net outflow of $1.7 billion for the week. ETH’s daily RSI plunged to a historic low of 12.78, while BTC’s daily RSI dropped to 15.45—raising the probability of a technical rebound, though trend reversal remains unconfirmed. DVOL surged from its historical low of 35 to 55 before retreating to 48; put options have already been profitably closed. Currently, chasing long positions is discouraged. BTC faces significant resistance between $63,000 and $65,000. Entry should await either the June 10 CPI release or DVOL falling back to 40—or until BTC convincingly closes above $65,000.
Related news
Cryptocurrency Jobs Triple in September as Job Seeker Numbers Drop
Recruitment demand in the cryptocurrency industry rebounded strongly in September, with the number of positions increasing by more than double compared to July to reach 1,241; however, job applications dropped below 20,000, reflecting intensified competition for professional talent.
Bonk Guy Responds to SI Drop: A Healthy Pullback, $100 Million Market Cap May Be the Next Target
Bonk Guy posted on X platform stating that Super Inu (SI) surpassed 60,000 holders within one week of launch, with over 30,000 new holders added in a single day. On-chain trading volume exceeded $110 million over the past two days, with cumulative on-chain trading volume of approximately $163 million over the past 7 days. Bonk Guy also noted that no other Meme coin has achieved similar data in this cycle or over the past year.Regarding the SI price decline, Bonk Guy added that SI's market cap had previously risen from $3 million to $70 million and is currently undergoing a very healthy pullback. He believes that a $100 million market cap could become the next target of focus and is optimistic about its future performance.According to GMGN data, SI's market cap is currently at $34.46 million, down over 22% in 24 hours.Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.
Analysis: Gold Sees Rare Worst Drop in Nearly 20 Years, Surging US Treasury Yields Rattle Precious Metals Market
Odaily reports: The Kobeissi Letter posted on X that gold prices plummeted, recording an extremely rare single-day drop not seen in nearly 20 years. Since 2006, gold's average daily change has been a gain of 0.05%, with a standard deviation of 1.19%. Today's decline corresponds to a Z-score of -2.90, placing it at the extreme left tail of the return distribution. The Kobeissi Letter added that, assuming a normal distribution, the probability of such a single-day drop occurring is approximately 0.2%, or roughly once every two years on average. The analysis suggests that surging US Treasury yields are exerting an unusual impact on the precious metals market.
Global Crypto ATMs Drop to 27,358, Falling Back to 2021 Levels
the global number of cryptocurrency ATMs has dropped to 27,358, falling back to levels not seen since 2021; 587 machines have been removed since July 8, including 476 in the United States.Since 2023, 35 U.S. states have passed legislation concerning cryptocurrency ATMs and self-service terminals. Indiana, Tennessee, and Minnesota have banned such devices, while Vermont has extended its moratorium on new terminal installations.The United States still accounts for 71.4% of the global total of cryptocurrency ATMs, Canada accounts for 13.5%, Oceania accounts for 7%, and Europe accounts for 5.6%. The United States, Canada, and Australia together account for approximately 91% of the global total. (Bitcoin.com News)
StarkWare: Quantum-Safe BTC Transaction Cost Estimates Can Drop to $66, Cutting Costs by Approximately 79%
According to CoinDesk, StarkWare stated that the estimated GPU computing cost required to prepare a quantum-secure Bitcoin transaction has decreased from approximately $320 to $66 (a cost reduction of about 79%). Previously, the relevant transaction was mined on the Bitcoin network in August. The preparation process utilized approximately 100 GPUs and accumulated around 3,100 hours of computing time. The $320 figure referred only to the pre-on-chain computing costs, excluding Bitcoin network fees.
Vitalik: General-Purpose STARK Performance Exceeds Early Expectations, Future Computational Overhead Could Drop to Double Digits
Odaily News: Ethereum co-founder Vitalik Buterin stated that the Poseidon hash function family, after years of research and development, has generated significant practical value in Ethereum and other fields, and will continue to play a role in the years to come. Poseidon is one of the key reasons why modern privacy protocols are able to quickly generate SNARK proofs on the client side.Vitalik noted that general-purpose STARKs have now achieved extremely high performance, with proof overhead for nearly any batch computation reduced to the three-digit range, and it is expected to further drop to double digits or even lower in the future—a level of progress that even exceeded expectations from the early 2020s.