Michael Saylor said on Tuesday that Bitcoin has won, and that its gravest danger now comes from within its own ranks. His company, Strategy, has not bought a single BTC in five consecutive weeks.

Blockchain intelligence firm Arkham dissected the pause. Strategy (formerly MicroStrategy) has built a $3.75 billion cash reserve instead. Two clocks are now running at once, and they point in opposite directions.

Why Michael Saylor Is Warning About Bitcoin Now

The timing is not accidental. BIP-110 is a proposed one-year soft fork that would cap the size of arbitrary data fields in Bitcoin transactions. Written by developer Dathon Ohm and shipped in Bitcoin Knots, it began miner signaling on December 1, 2025.

Miners have largely ignored it. That does not stop it.

The proposal’s own deployment schedule sets a mandatory lock-in window for around August 2026. Once that window opens, blocks that fail to signal are rejected as invalid. Lock-in becomes guaranteed. Activation follows two weeks later, and the rules expire on their own about a year after that.

In other words, Saylor is not arguing against something that needs to win a vote. He is arguing against something with a calendar. That window is days away.

What Saylor Actually Said About Consensus Rules

The Strategy executive chairman framed Bitcoin’s consensus rules as a constitution. They define property, scarcity, settlement, and power. Rewriting them to suit any faction, he argued, attacks every participant alive today and every one who comes later.

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He named three targets:

• BIP-110 censors valid fee-paying transactions in his reading.
• Covenants create fresh attack surface.
• Larger blocks thin out blockspace scarcity and raise validation costs.

His central technical claim concerns miner revenue. Block subsidies halve every 210,000 blocks. Fees must therefore carry more of the security budget over time. Weakening the fee market, he said, disarms the network.

The other side of this argument is well staffed. BIP-110’s backers say arbitrary data embedding burdens node operators and crowds out payments.

Saylor is not the only critic, and critics do not agree with each other. Blockstream chief executive Adam Back also opposes the proposal. His fork risk warning targeted the lowered 55% activation threshold, not censorship.

Saylor’s earlier BIP-110 warning called the proposal Bitcoin’s biggest self-inflicted risk. The dispute has split Bitcoin developers for months.

Why Did Strategy Stop Buying Bitcoin?

Because equity became cheaper to sell than conviction was to abandon.

A Form 8-K filing dated July 27 confirmed a $525 million addition to the dollar reserve. The total reached $3.75 billion, which the company frames as 2.1 years of dividend coverage against roughly $1.76 billion in annual preferred obligations.

The money came from shares, not coins. Strategy sold $544.5 million of MSTR stock last week. Roughly $467 million and $263.5 million came from share sales in the two weeks before that, or about $1.26 billion across three weeks.

It sold those shares cheap. MSTR trades near $96.66, down about 76% from its 52-week high of $414.36. Every dollar raised this way costs far more equity than it would have a year ago.

How Far Behind Is the 1 Million BTC Target?

Strategy has said it wants 1 million BTC by the end of 2026. It holds 843,775. The gap is 156,225 BTC.

About 22 weeks remain in the year. Closing the gap would require roughly 7,000 BTC per week, or near $447 million weekly at current prices. The company is buying none.

Why It Matters for BTC and MSTR Holders

Strategy’s average cost sits near $75,494 per coin. Bitcoin trades around $63,817, down roughly 1.5% over 24 hours and about 49% below its October 2025 peak of $126,080. That leaves the stack close to $9.9 billion underwater on paper.

BTC would need to climb about 18% to return the position to break-even. The Bitcoin price today gives that no help.

The preferred shares explain the urgency. STRC trades near $88.86, still about 11% below its $100 par despite a dividend raised to 12% on July 1 and an authorized buyback programme.

That pressure on STRC shaped the Digital Credit Capital Framework announced on June 29, which cleared buybacks and up to $1.25 billion of Bitcoin sales.

What to Watch Over the Next 30 Days

Three dated events sit inside the window.

• BIP-110’s mandatory signaling window is expected to open in August, which would guarantee lock-in regardless of miner support.
• Strategy files weekly. A sixth consecutive week without a purchase would extend the longest pause of its accumulation era.
• With $3.75 billion banked, the company has removed the near-term need to touch its $1.25 billion Bitcoin monetization authorization.

Both positions can hold at once. One defends a protocol meant to last a century. The other has to fund a dividend next quarter. The tension is not hypocrisy so much as a scheduling problem, and the schedule is about to get crowded.

The post Michael Saylor Says Bitcoin Has Won, So Why Did MicroStrategy Stop Buying BTC? appeared first on BeInCrypto.

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The xyz.SKHYNIX perpetual on Hyperliquid crashed around 20% almost instantly late on Monday night, dropping from $1,131 to as low as $900, completely decoupling from pricing elsewhere on crypto exchanges.

On-chain data indicates that the entire cascade stems from a single share trade placed from Seoul.

How One Bad Price Caused a Liquidation Cascade

It appears that during the pre-market window before trading opened on the South Korean Nextrade exchange, there was an order to sell stock for major chip manufacturer SK Hynix placed 30% below the previous closing price. This order may have been placed by accident.

With thin pre-market liquidity, there were no competing orders on Nextrade at that moment, and that single trade briefly set the price of the stock on that exchange.

The price corrected back to market value within two minutes, but by that time, the XYZ oracle responsible for setting the price for this stock on Hyperliquid had already consumed and relayed the information.

Just four seconds after Nextrade opened for trading, the SKHYNIX oracle price plummeted 15.6%, and liquidations began about 2 seconds later.

Freefall: The Final Figures

On Hyperliquid, users were betting on the price of the semiconductor stock using leverage. X.com user MarketAlpha calculated that 960 accounts lost $57 million in a liquidation cascade as a result of this oracle error, with $17.3 million in realized losses.

Today, a single share sale triggered millions of dollars in liquidations on Hyperliquid.

At 11:00 pm UTC on July 27, $SKHYNIX suffered a flash crash on Hyperliquid, falling roughly 20% within seconds before rapidly recovering.

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The entire cascade began with a single share sold… pic.twitter.com/quFIo2o1Lc

— Markets Alpha (@MarketsAlpha) July 28, 2026

The backstop then triggered auto-deleveraging against profitable short positions, with $10.8 million in gains realized across 100 accounts. The largest gains and losses for individual accounts were $2.55 million and $2.05 million, respectively. Surprisingly, the flash crash mimicked a real stock price correction of around 15%, which took place hours later on the open market.

Hyperliquid staff have pointed out that the exchange is permissionless and that SKHYNIX is deployed and operated by XYZ, which is reportedly investigating the issue but has not released a statement.

The post One Bad Price, 960 Liquidations: Inside SK Hynix Flash Crash on Hyperliquid appeared first on CryptoPotato.

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Arthur Hayes added 3,298 ETH worth $6.39 million on July 28, roughly three hours before Ethereum’s spot price slid from $1,960 to $1,872, a drop that immediately raised the question of whether the BitMEX co-founder’s whale trading triggered the selloff. The answer, grounded in the on-chain data, is no.

But the timing crystallizes a more interesting question about where Hayes is positioning for the next leg of this ETH cycle.

According to Lookonchain, the July 28 purchase was Hayes’s largest single leg in a buying streak that began on July 15. He has now accumulated 7,213 ETH at a total cost of $13.87 million, averaging $1,923 per ETH.

At post-drop prices, the position sits roughly $368,000 underwater – a paper loss, not a crisis, but one that underscores how quickly the macro environment can move against even a well-telegraphed accumulation thesis.

Discover: The Best Crypto to Diversify Your Portfolio

How Hayes Built the Position – and Why OTC Routing Matters

Hayes assembled the 7,213 ETH stack through a series of over-the-counter trades routed through Galaxy Digital, FalconX, and Cumberland. Individual legs ranged from approximately 645 ETH to 1,330 ETH, with the July 28 purchase at 3,298 ETH representing the largest single tranche.

OTC execution is the key structural detail: none of these trades hit the open order book in a way that would create visible sell pressure or liquidate stacked bids.

On-chain data flagged by Lookonchain confirmed the wallet-to-OTC-desk transfer pattern. The mechanics mean the correlation between Hayes’s buy and the subsequent ETH price drop is coincidental timing, not causation.

A $6.39 million OTC purchase, however attention-grabbing in dollar terms, is small relative to daily ETH spot and derivatives volume across centralized and decentralized venues.

This accumulation reverses a June exit that cost Hayes approximately $606,000 in realized losses. He had sold roughly 6,000 ETH below $1,700, citing macro headwinds, including energy prices and political risk.

He then re-entered starting July 15 as ETH recovered above $1,750, a pattern that fits his documented trading style, which prioritizes rebuilding conviction positions at dislocated prices rather than protecting short-term P&L.

The Actual Catalyst: Fed Timing and Broader Crypto Market Pullback

The ETH price drop on July 28 was not an isolated event. It was part of a broader crypto market pullback across the asset class as traders de-risked ahead of the Federal Reserve’s two-day policy meeting.

Rate decisions, or more precisely, the forward guidance language that accompanies them, have been the dominant macro variable for risk assets in 2026. Crypto markets have priced in sensitivity to that signal, and positioning ahead of the announcement typically compresses speculative longs.

ETH is not uniquely exposed here, but it is exposed. The move from $1,960 to $1,872 represents a roughly 4.5% intraday drawdown that hit simultaneously with pullbacks in BTC and major altcoins.

Attributing that to a single 3,298 ETH OTC purchase, one that didn’t touch the open market, requires ignoring how macro-driven de-risking actually propagates through derivatives books and spot liquidations.

$1,900 Is the Level That Decides the Near-Term Narrative

Hayes’s average entry of $1,923 is not far above ETH’s post-drop price. The $1,900 level is the immediate technical line of significance: a sustained hold above it would keep Hayes’s position near breakeven and preserve the bullish structure that drew him back in after the June exit.

A failure to reclaim $1,900 with any conviction opens the door to a retest of the $1,750–$1,800 range where his July re-accumulation began.

The institutional thesis underpinning Hayes’s position has not been altered by a single macro-driven pullback. Fundstrat’s Tom Lee has made a parallel argument: institutions are moving past simply trading Ethereum toward building on it, with BlackRock’s tokenized fund and Robinhood’s ETH-based fee token cited as structural demand drivers.

That thesis is a medium-term one, and it does not immunize any position against near-term rate-driven volatility.

On-chain data confirms that Hayes’s Maelstrom-linked wallet is still holding, with no exit signals flagged in the reporting window. That matters because his track record includes rapid reversals – he has publicly championed tokens including HYPE, Zcash, and Worldcoin before quietly closing those positions as sentiment shifted.

The ETH position is larger in both size and stated conviction than those prior trades, but the pattern is worth tracking. On-chain watchers will be monitoring for any OTC transfer flows in the opposite direction as the Fed decision lands.

For active ETH traders, the Hayes accumulation is a data point, not a trade signal. The more actionable read is the Fed meeting outcome and whether ETH can reclaim $1,900 in the sessions immediately following. A contrarian institutional position of this size at current levels suggests smart money sees value here; it does not guarantee the market agrees on any particular timeline.

Trade Ripple XRP on Bybit and Get a Chance to Win Our $1,000 USDT Airdrop

The post Arthur Hayes Holds 7,213 ETH as FOMC Jitters Drives Ethereum Price Drop appeared first on Cryptonews.

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After several months of underperforming, the self-proclaimed Dogecoin killer finally posted a decisive rebound over the weekend. However, the pump was short-lived as the bears quickly intercepted the move and dragged the price down.

The enthusiasm faded, while a well-known analytics platform outlined when the next buying opportunity might emerge.

Retail Attention Arrived Late

Just a few days ago, Shiba Inu recorded a sudden 35% price jump to reach a two-month high of around $0.00000582 (per CoinGecko). Some potential factors that may have acted as catalysts for the significant revival include a whale that has resumed accumulating after more than half a year of inactivity, as well as the notable resurgence of the burning mechanism.

The bulls, though, lost momentum, and SHIB currently trades at roughly $0.000004631, representing a nearly 20% decline from the local high. The analytics platform Santiment noted that amid the rally, there were 52 whale transactions in a single day, the most since March 31.

“Activity strongly suggests larger holders took profits into strength,” it added.

On the other hand, retail investors joined the party too late and chased the excitement near the top, “giving whales the liquidity needed to reduce their exposure.”

According to the entity, the smart approach with meme coins is to cash out when retail FOMO spikes, and re-enter once the crowd turns hostile and calls the token a scam.

It seems like X user Crypto King had followed these rules. On July 26, the trader noted the double-digit price increase, the whales’ accumulation, the exploding burn rate, and rising volume to open a short position.

“These euphoric pumps have a habit of trapping late buyers… but the market loves proving people wrong,” they said.

What Comes Next?

As mentioned above, SHIB lost its traction, while the broader cryptocurrency market flashed in red again, which could lead to a further downfall for the meme coin in the near term.

The rising amount of tokens stored on exchanges serves as another warning. CryptoQuant’s data shows that the figure has been constantly rising over the past several days, reaching a two-week high of around 86.7 trillion units. Such a development suggests that many investors have abandoned self-custody and flocked to centralized platforms, thus increasing immediate selling pressure.

The stalled activity on Shibarium is also worth mentioning. The layer-2 scaling solution, designed to foster the advancement of Shiba Inu’s ecosystem, was once considered among the primary catalysts that could trigger a price increase for the meme coin. However, after an exploit in September last year, the protocol saw a sharp decline in usage, dropping to merely hundreds or thousands of daily transactions.

The post Shiba Inu (SHIB) Drops 20% From Its Recent High: Is It Time to Buy? appeared first on CryptoPotato.

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A federal judge has temporarily blocked Minnesota from enforcing a first-of-its-kind law that would have prohibited prediction markets in the state.

The latest decision hands a temporary legal victory to Kalshi, Polymarket, and the US Commodity Futures Trading Commission (CFTC).

Early Court Victory

According to Reuters, US District Judge Katherine Menendez granted a preliminary injunction after finding that the state law, which was due to take effect on Saturday, is likely preempted by the federal Commodity Exchange Act. The ruling allows Kalshi and Polymarket to continue offering event contracts to users in Minnesota while the lawsuit proceeds.

The dispute began after Governor Tim Walz signed legislation in May that made it a criminal offense to operate, host, or promote prediction markets in the state. Unlike other states that have challenged companies such as Kalshi by arguing they were operating unlicensed gambling businesses under existing gaming laws, Minnesota enacted a law that aimed specifically at prediction markets.

Judge Menendez said several event contracts offered by Kalshi and Polymarket likely qualify as “swaps” under federal law. Because the CFTC regulates swaps, she found that federal law is likely to override Minnesota’s ban on prediction markets. Despite this, she noted that the court could narrow the injunction later if it determines that not every event contract listed on the platforms falls within that definition.

For now, however, she said preserving the status quo is appropriate while the court fully considers the merits of the case.

The decision was welcomed by both platforms. A spokesperson for Kalshi, Elisabeth Diana, for one, said the ruling confirms that states cannot prohibit activities outside their jurisdiction. Meanwhile, Minnesota Attorney General Keith Ellison said the state disagrees with the decision and will continue defending the law while arguing,

“Prediction markets are gambling, plain and simple, and Minnesota has every right to keep predatory gambling out of our communities.”

Compliance and Legal Battles

The latest ruling comes as Kalshi continues to face legal restrictions in Massachusetts, Michigan, Nevada and Washington. Earlier this year, the company also stepped up enforcement of its own trading rules.

In April, it suspended three US political candidates after finding they had traded on contracts tied to elections in which they were running. The platform described the activity as political insider trading and said it violated its CFTC-approved rules. Minnesota State Senator Matt Klein and Texas candidate Ezekiel Enriquez each placed trades worth less than $100 on their own races and accepted fines and five-year suspensions.

Virginia candidate Mark Moran received a larger fine and a five-year ban after making multiple trades and refusing to settle. Moran said he placed the bets to test Kalshi’s enforcement process.

A month later, federal prosecutors charged Google software engineer Michele Spagnuolo, known online as “AlphaRaccoon,” with allegedly using confidential Google search data to make about $1.2 million by trading on Polymarket. Authorities said he accessed nonpublic “Year in Search 2025” rankings before they were released and placed bets on a related prediction market.

The post Minnesota’s Prediction Market Ban Hits Legal Roadblock After Federal Court Ruling appeared first on CryptoPotato.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Crypto market volatility and regulatory developments are driving interest in cloud mining platforms like EX DeFi as investors explore alternative digital asset strategies.

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Summary

• EX DeFi gains attention as crypto volatility drives investor interest in cloud mining and alternative income strategies.
• Market uncertainty boosts demand for cloud mining platforms like EX DeFi as investors seek diversified crypto participation.
• EX DeFi highlights automated cloud mining services amid Bitcoin and Ethereum volatility following regulatory developments.

Recently, the US Clarity Act continued to advance. The market generally believes that a clearer regulatory framework for digital assets will help improve long-term transparency in the industry and create a clearer regulatory environment for institutional participation.

Bitcoin nearly fell below $63,000 during last night’s sell-off, while Ethereum dropped to $1,860, with 24-hour trading volume more than doubling.

According to Coinglass data, over $670 million was liquidated in the cryptocurrency market in the past 24 hours, including $533 million in long positions being wiped out.

Amidst increased market volatility, more and more investors are seeking diversified participation methods beyond simply holding cryptocurrencies, hoping to hedge against market volatility risks through stable cash flow.

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Amid market volatility, cloud mining has regained attention

Since July, major digital assets such as Bitcoin, Ethereum (ETH), and XRP have been fluctuating around key price levels, making investors increasingly eager for stable returns. The emergence of the EX DeFi cloud mining platform has injected new options and vitality into the market.

Compared to traditional mining, which requires purchasing mining rigs and incurring electricity and equipment maintenance costs, cloud mining lowers the barrier to entry. Users do not need to deploy specialized equipment and can participate in digital asset mining through the platform’s computing power services, even during market volatility, and obtain substantial returns. This is one of the key reasons why more and more investors have been paying attention to cloud mining in recent years.

As a digital asset cloud mining platform, EX DeFi supports major cryptocurrencies such as BTC, ETH, DOGE, and XRP. Through intelligent mining and computing power allocation, it helps users achieve stable returns of up to $50,000 per month.

Why are more and more investors joining EX DeFi?

As the digital asset market matures, more and more investors are placing greater emphasis on long-term participation experiences, rather than just focusing on short-term price fluctuations.

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EX DeFi, through cloud deployment and automated computing power management, helps users avoid the complex processes of mining machine procurement, equipment maintenance, and mining farm operation, enabling more ordinary users to participate in digital asset mining.

With this unique core advantage, EX DeFi is rapidly gaining favor among global cryptocurrency investors — whether they are complete beginners or seasoned investors seeking long-term, stable returns, they can all obtain a low-cost, high-efficiency, and sustainable source of passive income here.

Key advantages of EX DeFi:

1. Energy Efficiency: The platform uses clean energy sources such as solar, wind, and hydropower to power its data centers, improving energy utilization efficiency while reducing the energy consumption of traditional mining, providing stable support for computing power services.

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2. Payment Methods: Supports cryptocurrencies and cryptocurrencies within cryptocurrencies, including BTC, ETH, DOGE, SOL, XRP, USDC, LTC, and USDT.

3. Affiliate Program: The affiliate program offers a 3% + 2% profit margin and referral bonuses up to $50,000.

4. Compliance and Transparency: Security and transparency of mining and energy information ensure reliable and stable data and services.

5. Security and Stability: The platform utilizes Cloudflare enterprise-grade network protection, McAfee® security system, and two-factor authentication (2FA) to further enhance account and data security, and provides 24/7 support.

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How to earn mining rewards through the EX DeFi Platform?

1. Go to the EX DeFi website and create an account and automatically receive a $17 bonus.

2. Choose a mining contract that matches your budget and contract duration. (Minimum deposit $100)

3. Once mining begins, your earnings will be automatically credited to your account within 24 hours.

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Summary

The continued progress of the Clarity Act has brought positive expectations for establishing a clearer regulatory framework for the US digital asset market. However, in the short term, cryptocurrency prices are still affected by multiple factors such as the macroeconomy, geopolitics, and market sentiment, and have not continued to rise despite regulatory progress.

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In an environment where market volatility remains high, EX DeFi provides investors with a safe, low-cost, and high-return way to participate. This cloud mining model not only reduces short-term risks but also provides a stable cash flow, with monthly returns up to $50,000, making it an optimal choice for investors seeking sustained growth.

For more information, visit the official website.

Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.

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