Bitcoin reclaimed the $63,000 level on Thursday, but traders are approaching Friday’s $1.4 billion Bitcoin options expiry on Deribit with caution. The central debate is whether macro pressure—particularly rising US Treasury yields—will undermine BTC’s rebound and put the $62,000 support zone to the test.

While US bond yields pushing toward 4.6% have kept risk appetite cautious, Deribit positioning appears to be more balanced than outright bearish. That mix is setting up a weekend-or-later decision point for BTC’s short-term direction.

Key takeaways

• US 10-year Treasury yields nearing 4.6% are weighing on risk assets, reinforcing fears about debt concerns and tighter financial conditions.
• Deribit’s balanced put-to-call activity suggests downside demand is not dominating ahead of Friday’s large options expiry.
• Open interest and strike concentration point to key levels around $62,000, $61,000, and $63,500 for near-term price behavior.
• For bulls to extend their edge, BTC needs to hold above key expiry-related thresholds; otherwise, the market may remain rangebound.

Treasury yields and risk appetite: why BTC is stuck near $63K

The move in US government bond yields is driving much of the near-term caution. With the US 10-year yield approaching 4.6%, investors appear increasingly concerned about the expansion of government debt and the likelihood that additional monetary policy support may be needed to avoid a recessionary slowdown.

That backdrop has influenced Bitcoin’s trading behavior. BTC has largely been moving sideways, while equities—at least in the Nasdaq-100—have been holding relatively close to record levels. On Thursday, technology momentum continued to attract capital, supported by market-moving activity in semiconductors.

According to the article, SK Hynix’s US initial public offering was oversubscribed, contributing to strength across parts of the AI-linked chip complex. The result was a risk-on bid in equities, with Arm Holdings up about 10%, Advanced Micro Devices higher by roughly 7%, and Micron gaining around 7% intraday.

Still, equities strength does not automatically translate into sustained BTC upside when bond yields are rising. Bitcoin tends to react to shifts in global liquidity expectations, and bond yield pressure can quickly change the market’s risk calculus.

ETF flow worries cool off—options demand looks more balanced

Spot Bitcoin ETF flows briefly came back into focus on Wednesday, when the market saw $85 million in net outflows, ending a short run of three consecutive days of inflows. Earlier coverage by Cointelegraph linked that outflow episode to broader selling pressure in spot ETF markets.

However, the presence of outflows alone does not clarify whether institutions have shifted structurally bearish. More importantly for the near-term trade is how derivatives positioning has evolved into Friday’s expiry.

Deribit activity has been described as “balanced” between calls and puts, implying that demand for downside exposure has not surged. The key point is that options volumes over the past few days did not show a clear stampede into protective puts.

As cited in the piece, Laevitas data shows the put-to-call volumes relationship remains supportive of range stability. Even though call activity has outpaced put volume over four days—suggesting traders have trimmed urgency around downside—this is not the same as a market that is fully discounting volatility.

Deribit expiry setup: where the market’s incentives cluster

Friday’s weekly options expiry involves a large notional figure of $1.4 billion on Deribit, and the strike distribution matters for how price can “pin” near certain levels. The article highlights an interesting imbalance in the immediate strike zones.

Calls up to the $62,500 region amount to about $137 million, while puts above $61,000 total roughly $121 million. That does not imply an outright one-sided bet, but it does indicate that there is meaningful positioning both for upside continuation and for defense just below the middle of the range.

Open interest and strike placement also shape traders’ expectations for pinning behavior. With BTC positioned around the $63,000 area heading into expiry, the next move could be influenced by how market makers and hedgers respond to gamma exposure across key strikes. The article references Deribit open interest data for July 10 BTC, underscoring that the market is not operating without “gravity” around specific prices.

Within this framework, the piece outlines conditional outcomes: bulls would strengthen their position materially with a move above $63,500 by the 8:00 AM UTC expiry on Friday, while bears maintain a smaller edge below $61,000. Without additional macro or catalyst-driven volatility, the market may not deliver a decisive breakout purely from derivatives positioning.

Oil, geopolitics, and bond yields: what could break the range

Beyond crypto-native signals, the article points to two macro variables that could shift demand between fixed income and risk assets: energy and Treasury yields. A temporary truce in the Middle East could ease recession fears, encouraging capital rotation into higher-risk markets—an environment that typically supports BTC.

On the other hand, the piece also notes an ongoing counterweight. It argues that persistent uncertainty in the macro outlook, including the risk of additional large Treasury issuance to cover debt growth, could keep pressure on yields and dampen crypto upside attempts.

Traders are also asked to watch crude oil direction. A renewed escalation around Iran could push oil higher, worsening inflation fears and potentially forcing a less favorable policy outlook—conditions that tend to complicate liquidity for risk assets.

Crucially, the article ties these macro considerations back to options behavior: with put-option buying remaining restrained in recent sessions, BTC appears positioned to defend the $62,000 support level, at least in the immediate term. Still, that defense is not guaranteed. The market’s stability depends on whether bond yields ease and whether geopolitical risk stops feeding into inflation and rate expectations.

For now, the near-term picture is conditional: a successful expiry resolution above $63,500 could deliver short-term relief, but sustained upward progress would likely require a more supportive macro shift. Until then, traders may have to manage expectations for a range that can hold—but also revert quickly if yields keep climbing.

As Friday’s options expiry approaches, the key variables to watch are whether Treasury yields cool off and how price reacts around $63,500 and $62,000 into the settlement window—levels that derivatives positioning is effectively steering toward.

The Senate has entered what could be its final practical window to advance the CLARITY Act this year, with a merged draft expected as early as next week before lawmakers run out of time ahead of the August recess.

According to a CoinDesk report, Senate negotiators are preparing updated legislative text that combines proposals from the Senate Banking and Agriculture committees into a single version of the crypto market structure bill.

The report said the draft is expected to add more than 70 pages of new material and place stronger focus on consumer protections alongside revisions negotiated over recent weeks.

With the Senate targeting possible floor action during the week of July 20, the legislative calendar has become increasingly compressed. Debate on the bill could take several days, leaving lawmakers with only a narrow period before the chamber begins its summer recess and attention turns toward the fall midterm campaign season.

The CLARITY Act would establish a federal framework for digital asset markets by defining how regulatory authority is divided between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

While the House approved its version of the legislation with bipartisan backing in 2025, the Senate has continued negotiating key provisions before bringing the measure to a vote.

Democratic support remains the biggest hurdle

Despite progress on the draft, the legislation still lacks the bipartisan backing needed to clear the Senate’s 60-vote threshold. According to CoinDesk, Democratic support remains uncertain as negotiations continue over several unresolved issues.

One of the largest sticking points is an ethics provision backed by Democratic lawmakers. The proposal would prevent senior government officials, including the president, from maintaining business interests connected to the cryptocurrency industry. Several senators have indicated they cannot support the final bill unless an agreement is reached on those restrictions.

CoinDesk also reported that the ethics debate is only one part of a broader negotiation. Outstanding issues still include Senate Agriculture Committee concerns, law enforcement requests involving legal protections for decentralized finance developers, and disagreements over stablecoin yield provisions.

Another section expected to receive fresh attention is federal preemption, which determines how much authority individual states would retain after a nationwide crypto regulatory framework takes effect.

Separately, staffing at the SEC and CFTC has become part of the broader political discussion surrounding the legislation. As crypto.news previously reported, the Trump White House rejected claims that it was refusing to nominate Democratic commissioners to either agency.

In a letter sent to Senate Majority Leader John Thune and Senate Democratic Leader Chuck Schumer, the administration said it had already requested suitable Democratic nominees for both regulators but had not received any names.

Final negotiations continue before Senate debate

The appointments dispute has added another layer to negotiations because both the SEC and CFTC would receive expanded responsibilities if the CLARITY Act becomes law. As crypto.news previously reported, lawmakers are already working against the Senate’s Aug. 7 recess, leaving limited time to finalize the legislation.

Meanwhile, the decentralized finance industry is watching whether the Blockchain Regulatory Certainty Act remains part of the package. The provision would prevent developers who do not control customer assets from being classified as money transmitters, and support from Senator Ron Wyden has been viewed by industry advocates as a positive development this week.

Although negotiators are expected to unveil the merged draft shortly, the report noted that the legislation remains unfinished. The White House has not signed off on the latest version or participated in the most recent negotiations, while enough Democratic votes have yet to be secured for Senate passage.

Even if senators approve the revised bill, the House would still need to pass the updated text before it can be sent to President Donald Trump’s desk, leaving several procedural and political hurdles before the CLARITY Act can become law.

The list of meme coins to buy usually comes with an open clock. This week it doesn’t. Bullski ($BULLSKI) opens stage one of its presale at 5pm UTC on Friday, July 10, and the run-up is short.

Until then, the one move that matters is free: claim a spot on the priority list through Bullski’s site so you enter stage one ahead of the public rush. Here’s what the window really is, what to do before Friday, and where the listed memes fit around the event.

What the Before-Friday Window Really Is

The window is short and specific. Bullski’s presale opens to the public at 5pm UTC this Friday, and the days before it are a reservation phase. Joining the free priority list holds your place so stage one starts with you already through the door.

That’s the entire trick to a launch with a hard date: the people who did the two-minute step early are the ones who buy at the opening price.

Myth: Buying before a launch means finding somewhere to buy the token early. Reality: there is nowhere to buy $BULLSKI before Friday, and any page that says otherwise is not Bullski. The move before Friday is the free reservation; the buying happens at stage one, once the presale is live.

The One With the Deadline

Bullski is the reason the deadline exists, and its numbers hold up under a clock. It’s an ERC-20 token on Ethereum with a fixed 120 billion supply, sold through a 16-stage presale where each stage prices higher than the last on the way to a $0.0025 listing reference. Stage one is the lowest rung on that ladder, and stage one is what opens Friday, July 10.

The checks are already in place, which matters more when a date is pushing you. The contract is verified on Etherscan, an audit is in process, and liquidity locks at launch. Staking starts with the first purchase, and a referral program pays holders for bringing people in.

A deadline with a paper trail behind it is a very different thing from a deadline alone.

The Listed Memes Around the Event

The big listed memes are context here, not competition. Dogecoin has traded through every cycle since 2013 and is still the category benchmark, though its supply keeps growing and its early window closed more than a decade ago. Shiba Inu built one of the largest holder communities in crypto.

Pepe proved in 2023 that a fresh meme coin can still run hard. All three are listed, which means you can buy them any day you like. None of them has a Friday.

The short window belongs to the coin that does.

Side by side, the split looks like this.

That leaves a short list between now and Friday.

• Set up an Ethereum wallet such as MetaMask and fund it with ETH or USDT for fees.

• Claim your priority spot now instead of at five minutes to five on Friday.

• Save the official Bullski links so launch day involves zero searching.

Watch Out: A ticking window is exactly when people skip their checks. The Friday date is real, but so are the fake pages that cluster around any launch drawing attention. Verify every link through Bullski’s official channels before you connect a wallet, however close to the deadline you get.

Beating the Window: Your Before-Friday Move

If the countdown has your attention, spend it in the right order. The reservation is the whole game between now and launch: it costs nothing, takes about two minutes, and decides whether you enter at the lowest stage price or wait behind the crowd that reserved earlier. Fund your wallet, then reserve your stage-one entry on the official site.

When the presale opens Friday evening UTC, priority holders step into stage one first, buy with ETH or USDT, and can stake their $BULLSKI straight away.

$250 USDT Giveaway: There’s one more free move before the window closes. Bullski’s Bullish by Default draw pays $250 USDT to one winner, picked at random, with no purchase needed. You can join the Bullski giveaway draw through the Telegram and X, and bringing a friend adds entries. Winners are announced only on the official channels, and the team will never ask for your wallet keys.

Meme Coins to Buy Before Friday FAQ

What meme coins should I buy before Friday?

Bullski is the one with an actual deadline attached: stage one of its 16-stage presale opens Friday, July 10 at 5pm UTC, and the free priority list is how you enter it first. DOGE, SHIB, and PEPE are the listed names around it, buyable any day. Do your own research before committing to any of them.

What can I actually do before the launch?

Three things. Claim your priority list spot, set up an Ethereum wallet with a little ETH or USDT, and save the official links so you’re not searching in a hurry on the day. There’s nothing to pay before launch; the buying starts at stage one.

What happens at 5pm UTC Friday?

Stage one of Bullski’s presale opens. Priority list holders enter first, buy $BULLSKI with ETH or USDT at the lowest price of the sixteen stages, and can stake right away. From there the presale climbs stage by stage toward its $0.0025 listing reference.

How do I reserve a stage-one entry?

Go to the official Bullski site and add yourself to the priority list; it takes moments. Then fund an Ethereum wallet and wait for July 10. When stage one opens, your reservation puts you ahead of the public queue.

For More Information

Website: Visit the official Bullski website at bullski.io

Telegram: Join the Bullski Telegram channel at t.me/BullskiCoinOfficial

X (Twitter): Follow Bullski on X at x.com/bullskicoin

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Digital broker Robinhood’s new chain is off to a flying start, and the benefits are trickling to Ethereum-based network Arbitrum.

The native token of Arbitrum (ARB) jumped 19% over the past 24 hours, making it the best-performing asset in the top 100 cryptocurrency, according to CoinDesk data. Bitcoin BTC$63,214.70 edged 1.5% higher to trade above $63,000, while ether (ETH) was up 0.5% in an otherwise muted day.

The gains came as Robinhood Chain, built on top of Arbitrum’s technology stack and rolled out to the broader public a week ago, processed over $568 million in daily trading volume on Wednesday and logged over $350 million so far on Thursday, according to blockchain data from Entropy Advisors. Much of that activity was driven by a burst of memecoin trading, while stablecoin balances on the network also climbed quickly above $260 million within its first week.

The activity is translating into revenue for Arbitrum. Under the agreement, 10% of Robinhood Chain’s net protocol revenue flows back to the Arbitrum ecosystem, split between the DAO treasury and the Developer Guild.

Robinhood’s crypto push

Robinhood unveiled the chain at its London event last week as the centerpiece of a broader crypto push. The brokerage announced it would expand access to tokenized U.S. stocks to customers in more than 120 countries, launched a DeFi-powered savings vault offering yields through the lending protocol Morpho, and outlined plans to expand its crypto business into AI-powered trading and additional asset classes.

Coinbase Chief Legal Officer Paul Grewal is leaving the company after its high-profile, years-long legal fight with U.S. regulators, and the U.S. exchange also announced further changes to its senior leadership.

Grewal is departing to work at a startup, according to a Thursday announcement from Coinbase. Molly Abraham will now lead the company’s legal team as general counsel, and Ryan Van Grack will become vice chairman, in what’s anticipated to be a broader and more public-facing role.

“Leading Coinbase’s legal team through the biggest fight of our industry has been the single greatest achievement of my six-year tenure,” Grewal said in a statement. “Our legal wins helped ensure crypto not only had a future in this country, but could flourish.”

His statement continued on to say he would continue as an adviser to Coinbase, and would work on Coinbase’s trust charter work through the Office of the Comptroller of the Currency.

Abraham has been at Coinbase since March 2021, running multiple legal teams as the company’s vice president of legal. Prior to that, she was general counsel at an electric flying car startup, according to her LinkedIn.

Bitdeer Technologies Group shares rose sharply on Thursday after the Bitcoin mining infrastructure company said it will build a new manufacturing facility in Nevada. The project is designed to expand US production capacity for Bitdeer’s mining hardware and, according to the company, reduce dependence on third-party suppliers.

The stock climbed 14.1% to $14.33, wiping out much of an earlier selloff in the week. Even with the rebound, Bitdeer remains about 27% below its June high, though it is up roughly 26% year-to-date.

Key takeaways

• Bitdeer plans to build a Nevada manufacturing facility in Sparks to assemble its SEALMINER mining machines.
• The plant is expected to begin commercial production by the end of the year.
• Bitdeer says the facility includes production of key mining hardware components, potentially lowering reliance on external hardware sources.
• While competitors push into AI and high-performance computing, Bitdeer’s Nevada expansion is specifically focused on mining hardware.
• Bitdeer also reported mining output of 921 BTC in May, representing a 370% increase versus the prior year.

Why a Nevada manufacturing push matters

Bitdeer’s announcement centers on a new facility in Sparks, Nevada, intended to assemble its SEALMINER line of Bitcoin mining equipment. The company says the site will also produce major components used in the machines, with commercial production slated to start by the end of the year.

For investors and mining-industry watchers, the importance of this shift is straightforward: hardware supply and lead times are often pivotal to mining operations, particularly when market demand accelerates. By bringing more manufacturing in-house within the US, Bitdeer is positioning itself to better control key parts of its supply chain rather than relying entirely on external vendors.

The facility also signals a broader strategic bet—mining infrastructure companies are increasingly expected to compete not only on hashrate and operating costs, but on the ability to scale equipment production reliably.

Incentives and local partnership cited by management

According to remarks attributed to Bitdeer CEO Catherine Guo by local media, the company worked with Nevada Governor Joe Lombardo’s administration and local authorities to secure tax incentives, including a reduction in qualifying sales taxes, as part of its decision to establish operations in the state.

These kinds of incentives can materially change the economics of industrial expansion, especially for manufacturing-heavy projects with significant upfront capital requirements. They also help explain why some mining-related manufacturers prioritize certain jurisdictions—cost structures and time-to-production can be decisive when trying to scale.

Bitdeer stays on hardware while rivals diversify

Bitdeer’s Nevada facility comes as several large Bitcoin miners and mining-adjacent companies broaden their businesses into AI, high-performance computing, and related digital infrastructure. In those cases, access to power and data center infrastructure can make it easier to pivot toward compute-intensive services beyond mining.

However, Bitdeer’s plans for Sparks are explicitly tied to Bitcoin mining hardware production rather than a broader AI-focused overhaul. The company has reportedly expanded into AI cloud services and high-performance computing, but the new Nevada plant is intended specifically for manufacturing SEALMINER equipment and components.

This creates an interesting contrast within the sector. While some publicly traded miners are using their infrastructure footprint to chase contracts in the AI ecosystem, Bitdeer is emphasizing the practical bottleneck on the mining side: getting capable hardware built and delivered at scale.

Earlier coverage from Cointelegraph has highlighted how the AI pivot among Bitcoin miners faces investor scrutiny, including concerns around insider sales. Against that backdrop, Bitdeer’s more narrow manufacturing focus may appeal to investors looking for tangible supply-chain expansion inside the core mining industry.

Output update underscores the company’s operating momentum

Alongside the manufacturing announcement, Bitdeer also provided a production update stating it mined 921 BTC in May. The company said this represented a 370% increase compared with the previous year.

That matters because new manufacturing capacity typically takes time to translate into higher throughput. In the meantime, investors often look for evidence that operations are already improving—either through added capacity, better utilization, or improved efficiency. Bitdeer’s May output increase offers some near-term confirmation that the company’s mining business is not only expanding on paper but also generating stronger results.

Even so, the market reaction to Thursday’s news suggests investors are treating the Nevada facility as more than incremental: the prospect of end-of-year commercial production could mark a meaningful step in the company’s ability to scale its hardware footprint.

Cointelegraph previously reported on how MARA Holdings announced plans to acquire a Texas site with up to 2 gigawatts of capacity to expand its AI and digital infrastructure business, and how TeraWulf signed a 20-year data center lease with Anthropic that the company said could generate roughly $19 billion in contract revenue. Those developments highlight how quickly many miners are moving toward AI-driven business models—even as hardware production remains central to the mining sector’s long-term competitiveness.

What to watch next

As Bitdeer works toward end-of-year commercial production in Nevada, the key question for investors is whether the facility meaningfully changes hardware availability, delivery timelines, and cost structure. The next signals to track are updated production metrics, progress on the manufacturing timeline, and any further detail on how the Nevada plant is expected to reduce dependency on third-party components.

Grayscale’s chief financial officer Edward McGee has stepped down after seven years at the crypto asset manager, becoming the latest senior executive to leave the company, according to a filing with the U.S. Securities and Exchange Commission on Thursday.

McGee resigned effective July 2 for personal reasons and not because of “any disagreement with the company or its operations, policies or practices,” the filing said.

The company has named Kathryn Masci and Daniel Plourde as interim co-chief financial officers. Masci will also serve as principal financial and accounting officer and join the board of managers.

Masci joined Grayscale in 2020 and most recently served as senior vice president of finance.

Before that, she held finance and accounting roles at Garrison Capital, Pzena Investment Management and Ernst & Young. Plourde joined Grayscale in 2022 after senior positions at Gabelli Asset Management and State Street Global Advisors. He has also served as assistant treasurer of the Grayscale Funds Trust.

The leadership change follows another recent executive departure. Just weeks ago, managing director and head of distribution and partnerships John Hoffman left Grayscale to join tokenized asset platform Ondo Finance.