Key takeaways:

• Persistent spot Bitcoin ETF outflows and US dollar strength reduce the odds of a quick bounce to $65,000.
• Strong AI sector earnings momentum and higher fixed-income returns pull capital from Bitcoin and gold.

Bitcoin (BTC) reacted positively to US Federal Reserve Chair Kevin Warsh’s remarks on stubborn inflation. Despite the gains on Wednesday, traders fear that incentives for fixed-income investments and strong earnings momentum in tech stocks will continue to pressure non-yield-bearing assets like cryptocurrencies.

US 5-year Treasury yield (left) vs. Bitcoin/USD. Source: TradingView

The US 5-year Treasury yield jumped to 4.22%, meaning traders demanded higher returns to hold government bonds. Even as inflation eventually eases and WTI crude oil prices fell to a 4-month low, investors anticipate monetary expansion. Regardless of how the Fed manages interest rates and its balance sheet, the US Treasury dictates debt issuance trends.

Implied odds of FED interest rates on Sept. 16. Source: CME FedWatch Tool

US government bond futures implied 64% odds of interest rate hikes by September, up from 23% one month prior. The higher expected return on fixed-income investments came as the US dollar strengthened against other major global fiat currencies, which is especially concerning for alternative hedges such as gold and Bitcoin.

Gold/USD (left) vs. US dollar strength (DXY). Source: TradingView

Despite the gains on Wednesday, gold prices are down 12% in two months, while the US dollar strength (DXY) nears its highest mark in one year. This vote of confidence in the US economy partly stems from AI sector strength, evident in the 25% gains in the Nasdaq 100 index. However, some specific tech sub-sectors have recently signaled weakness, which could act as a catalyst for Bitcoin and gold.

Could the AI sector cool off act as a catalyst for Bitcoin?

Micron (MU US) and SanDisk (SNDK US) shares saw intraday losses exceeding 9% on Wednesday after competitors SK Hynix (000660 KR) and Samsung (005930 KR) announced plans to expand capacity. Still, the move can hardly be deemed a trend reversal as the iShares SOX Semiconductor Index ETF (SOXX US) gained 78% in three months.

Continued outflows from US-listed spot Bitcoin exchange-traded funds (ETFs) have shattered bulls’ hopes, reinforcing a negative price spiral as negative news gets amplified while positive events barely register. 

US-listed spot Bitcoin ETFs daily net flows, USD. Source: SoSoValue

Regardless of the rationale behind the sales, Bitcoin’s weakness, 53% below its all-time high, does not inspire confidence in the $60,000 support level.

Strategy (MSTR US) increased its cash position to restore a healthy 17 months of dividend coverage on Monday. However, Strategy’s variable-rate Stretch preferred stock (STRC US) continued to trade far from the $100 target required for additional issuances. The STRC dividend rose to 12% from 11.5%, which was apparently not enough to entice more buyers.

Related: Bitcoin just $5K away from ‘best investment opportunity’ of bear market

Bitcoin might have temporarily benefited from Fed Chair Warsh’s concerns about persistent inflation, but rising expectations for higher interest rates and strong earnings momentum in the AI sector may continue to exert negative pressure on Bitcoin. As a result, a sustainable rally to $65,000 could take longer.

UmexGain offers traders access to multiple asset classes, market analysis, educational resources, and tools designed to support informed trading.

When choosing a broker, traders consider the variety of assets, the quality of analytical support, the convenience of services, and the availability of learning materials. These elements offered by UmexGain are essential for making market participation both more comfortable and more productive.

The company provides a comprehensive approach to client support, combining a wide selection of instruments with up-to-date analytical resources. This format enables each user to select a suitable trading style, enhance their knowledge, and receive the timely information needed to make informed decisions.

Broad asset base

One of UmexGain’s key advantages is the extensive array of available assets. Clients can work with various financial instruments, including currency pairs, stocks, indices, commodities, and cryptocurrencies. Each tool features unique properties, allowing for versatile market applications.

The inclusion of digital assets, which continue to play a significant role in the global financial system, deserves special mention. This allows the company’s clients to use the ever-growing opportunities within modern financial markets and craft diverse trading strategies tailored to their preferences.

This broad selection of instruments helps UmexGain customers focus on areas of greatest interest. The ability to choose from various asset classes also adds flexibility to the trading process and opens up new avenues for executing individual strategies and effective portfolio diversification.

Analytics and education

High-quality information support is essential for success in financial markets. UmexGain provides clients with all the data necessary to make informed decisions in a timely manner. This includes learning materials, helping beginners master the fundamentals of trading while allowing experienced professionals to refine their strategies. This data is presented in a user-friendly format, offering an introduction to core trading principles, market specifics, analysis methods, and strategies for building a personal plan.

Timely analytics enables the assessment and comparison of different assets’ prospects. It helps users track key events, monitor the performance of various instruments, and gain insights to assess market conditions. This allows clients to quickly process current information and use the data to inform their next steps.

The combination of learning resources and analytical support creates an optimal environment where UmexGain customers can continuously expand their knowledge. This approach fosters confident skill development, regardless of the user’s experience level.

Seamless trading experience

A modern broker must provide a convenient environment for daily activities. UmexGain strives to make the trading experience as intuitive and streamlined as possible. A well-organized interface ensures that key features are easy to locate, allowing users to focus on market analysis and implementing deals.

The combination of diverse tools and comprehensive information support offers a significant advantage. This approach allows users to dedicate more time to identifying new opportunities, developing their strategies, and honing their practical skills. Regardless of experience level, every client gains access to resources that help them navigate financial markets with greater confidence.

Summing up

UmexGain is a broker that combines a wide range of assets, modern trading capabilities, and high-quality information support. A vast array of financial instruments, including cryptocurrencies, enables clients to utilize the expanding opportunities of modern financial markets and select the most promising areas for their activities.

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Bitcoin (BTC) traded as high as $60,200 on Wednesday, up about 2.7% over the past 24 hours after falling to a 21-month low of $57,737 earlier in the session. Ether (ETH) and Solana (SOL) also gained, up 3% and 4.85%, respectively. 

The bounce took place amid deep investor caution, with sentiment trackers gauging the balance of fear and greed in crypto markets currently reading around 11 out of 100, in “Extreme Fear” territory. Despite the rebound from the yearly low, Bitcoin remains down roughly a third since the start of the year. 

Crypto Fear & Greed Index. Source: Alternative.me

Bitcoin dip-buyers overshadowed by fear of future selling

Investors’ cautious stance shows up differently depending on what data is analyzed. US spot Bitcoin exchange-traded funds (ETFs) have seen more money leave than enter in recent weeks, including a reported $4.5 billion total outflow in June, the largest since the funds launched. 

At the same time, onchain data shows that long-term holders added roughly 270,000 BTC over the past two weeks. That is generally read as a sign that some bigger investors see the recent decline as an opportunity rather than a reason to sell. 

Looking at the past few days, one useful gauge is the funding rate. That figure has stayed positive for three straight days, meaning bets on rising prices have remained crowded even as Bitcoin fell to new lows. When leverage builds up on one side of the market like this while price is weak, it can add to volatility, since more traders become exposed to being forced out of their positions if the market moves further against them. 

Bitcoin open interest, funding rate. Source: Hyblock

Liquidations continue to define the price action

A broader look at where leveraged positioning is concentrated, combining data from three major exchanges over the past week, shows the heaviest concentration of positioning is roughly between $57,000 and $60,500, which closely wraps around the range Bitcoin has traded in since late June. That concentration thins out noticeably above about $61,000 to $62,000, and again below about $55,000 to $56,000. 

Bitcoin liquidation heatmap, 3-day look back. Source: Hyblock

In practical terms, most of the leverage that could be forced to unwind sits close to the current price rather than in a distant zone, so a decisive move beyond roughly $61,000 on the upside, or $56,000 on the downside, is where forced position closures would likely have the most room to accelerate a move.

The view for the next 24 hours leans neutral and a genuine shift in positioning would likely need to show up as rising leveraged positioning alongside a rising Bitcoin price, a combination that has not yet appeared in the data.

Stock and cryptocurrency trading platform Robinhood announced the launch of its public mainnet about four months after it began testing the network.

On Wednesday, the company said Robinhood Chain, a layer 2 (L2) blockchain built on Arbitrum, had officially launched after the network went live on testnet in February. The blockchain, which the company described as “AI-native and purpose-built for real-world assets,” comes amid Robinhood’s expansion of crypto- and decentralized finance-related services.

According to Robinhood, it plans to launch crypto trading in the UK soon. The company also said that its tokenized stock products were live and available through its wallet app to users in more than 120 countries. CEO Vlad Tenev called tokenized stocks “inevitable” in January, arguing that offering the products could help prevent trading freezes that sometimes occur on traditional exchanges.

Source: Robinhood

The launch of the public mainnet came just a few weeks after Tenev announced that Robinhood would cut 10% of its workforce as part of a restructuring move. The company is expected to announce its 2026 second-quarter results on July 29, but reported in April that its crypto transaction revenue dropped by almost 50% year-on-year, from $252 million to $134 million.

Related: Last-minute MiCA approvals mark end of EU transition period

The company also introduced Robinhood Earn, a decentralized product that allows users to lend USDG, a dollar-backed stablecoin, through a self-custody wallet at an estimated 7% annual percentage yield. Robinhood shares rose about 8% on Wednesday.

Base’s L2 network reports back-to-back outages

Robinhood is entering an increasingly competitive L2 market dominated by networks such as Base, the Coinbase-backed blockchain.

In June, Base experienced two outages within hours of each other, which the engineering team later reported had been the result of a sequencer bug. The mainnet is the second-largest layer 2 network by total value secured at about $11 billion.

Magazine: AI is banking the unbanked in Africa… faster than crypto

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

TLDR

• Kroger revealed plans to purchase Giant Eagle in a transaction valued at $1.65 billion, consisting of $1.25 billion cash and $400 million in liability assumption.
• The acquisition brings approximately $9 billion in yearly revenue, 197 grocery locations, and 11 independent pharmacy outlets.
• Shares of Kroger declined 2.12% during Wednesday’s session, adding to a year-to-date drop of 12.11%.
• Transaction completion is anticipated in 2027, contingent upon regulatory clearance.
• Analysts at Wolfe Research characterized the acquisition as evidence Kroger is operating “more offensively,” projecting approximately 6% revenue growth.

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Shares of Kroger (KR) slipped 2.12% during Wednesday trading following the supermarket operator’s announcement that it would purchase family-run grocery chain Giant Eagle in a $1.65 billion transaction.

The Kroger Co., KR

The transaction structure includes $1.25 billion in cash consideration alongside $400 million in liability assumption. The Cincinnati-based retailer stated the purchase won’t push its net total debt to adjusted EBITDA multiple beyond its designated target corridor of 2.3 to 2.5 times.

Giant Eagle maintains a footprint of 197 grocery stores and 11 independent pharmacy locations throughout northern Ohio, western Pennsylvania, West Virginia, Maryland, and Indiana—regions where Kroger maintains an established market position.

The regional chain generates approximately $9 billion in yearly sales—a substantial contribution to Kroger’s operations.

Greg Foran, Kroger’s Chief Executive Officer, characterized the transaction as an obvious “strategic fit,” highlighting Giant Eagle’s customer loyalty initiatives, pharmaceutical services, and proprietary brand offerings as valuable assets.

What the Numbers Look Like

Greg Badishkanian, an analyst at Wolfe Research, noted the purchase aligns with Kroger‘s leadership team’s “increased openness to do M&A” and will enable the retailer to strengthen its store concentration while expanding into neighboring territories.

Wolfe’s analysis suggests Giant Eagle’s EBIT margins fall within the 2.0–2.5% range—comparable to Albertsons—and anticipates an additional EBIT contribution between $200 million and $250 million.

With Kroger’s sales forecast to reach $151 billion by 2027, the acquisition would increase total revenue by approximately 6%, bringing it to roughly $160 billion. Badishkanian anticipates modest EPS accretion during the second complete year following transaction closure.

The 197 additional locations would expand Kroger’s total store portfolio by roughly 7% from its existing network of 2,739 stores.

When Does the Deal Close?

Kroger anticipates finalizing the Giant Eagle acquisition in 2027, pending regulatory approval and customary closing requirements.

The grocery retailer indicated the transaction will contribute positively to adjusted EPS during the second complete year post-closure—when excluding one-time transaction expenses and integration-related costs.

To reassure shareholders, the company reaffirmed its commitment to maintaining dividend distributions and continuing its $2 billion stock buyback initiative.

Wednesday’s trading volume registered approximately 1.86 million shares, significantly below Kroger’s three-month average daily volume of roughly 7.77 million.

KR shares have declined 12.11% year-to-date and dropped 20.93% over the trailing twelve-month period.

Analyst sentiment on KR reflects a Moderate Buy consensus, comprising six Buy recommendations and seven Hold ratings issued within the past three months. The mean price target stands at $69.33, suggesting potential upside of approximately 27.4% from present levels.

Tradeweb, an institutional electronic trading platform, has executed an onchain transaction involving tokenized US Treasuries, with Franklin Templeton transferring a tokenized Treasury security to Virtu Financial in exchange for tokenized cash over the Canton Network.

Tradeweb provided execution and price discovery, while the Canton Network synchronized settlement between the tokenized Treasury and tokenized cash. The companies said the trade settled in real time, but did not disclose its size.

A Tradeweb spokesperson told Cointelegraph the deal marked the industry’s first real-time purchase and sale of a tokenized US Treasury settled against USDCx, a USDC-backed stablecoin issued on Canton. Participants included Blockdaemon, Digital Asset, Societe Generale, Franklin Templeton, Tradeweb and Virtu Financial.

According to the announcement, the transaction precedes the planned launch of the Depository Trust & Clearing Corporation (DTCC) Tokenization Services later this year. DTCC said the service will allow participants to tokenize select stocks, exchange-traded funds (ETFs) and US Treasury securities while maintaining the same investor protections and ownership rights as traditional assets.

Related: Franklin Templeton launches dedicated crypto division after closing 250 Digital acquisition

The transaction is also the latest step in Franklin Templeton’s expansion into tokenized financial assets. Earlier this year, the asset manager partnered with Binance to let institutions use tokenized money market fund shares as trading collateral while the assets remained in regulated custody, and with Ondo Finance to bring tokenized ETFs onto blockchain networks.

Governments expand tokenized bond initiatives

Governments have also been expanding efforts to bring sovereign debt onto blockchain infrastructure. Several jurisdictions have launched digital bond programs to test blockchain-based issuance, settlement and market infrastructure.

Hong Kong was among the first jurisdictions to issue tokenized government bonds, launching its inaugural digital green bond in 2023. The government completed its third digital green bond issuance in November 2025, raising HK$10 billion ($1.3 billion) across four currencies, which it said was the world’s largest digital bond issuance at the time.

Last month, Hong Kong said it would build a digital asset platform through the Hong Kong Monetary Authority to support the issuance and settlement of tokenized bonds, with plans to expand the infrastructure to other digital assets and connect it with tokenization platforms across the region.

Elsewhere, the UK government appointed HSBC Orion to support its Digital Gilt Instrument pilot, which is designed to test blockchain-based issuance, settlement and secondary trading of government bonds.

Meanwhile, tokenized US Treasury products have grown into a $14.6 billion market, according to data from RWA.xyz. The sector spans 84 on-chain products and is the largest segment of the tokenized real-world asset market.

Tokenized US treasuries. Source: RWA.xyz

Magazine: Bitcoin decouples from tech stocks, Ether eyes ‘selling wave’: Market Moves

Key Takeaways

• Meta is preparing to enter the AI cloud infrastructure space, positioning itself against established enterprise providers
• Federal Reserve Chair Kevin Warsh indicated that inflationary pressures are subsiding while maintaining commitment to the 2% objective
• Major indexes including the S&P 500 and Dow Jones advanced as the second half of 2026 began
• Nike stock declined following cautious guidance on China market performance, overshadowing positive earnings results
• Crude oil values retreated as diplomatic progress between Washington and Tehran reduced supply concern

---

Meta Prepares to Challenge Cloud Giants With AI Infrastructure Offering

Meta emerged as a standout performer following news that the technology giant is developing a standalone AI cloud infrastructure platform.

This strategic expansion would mark a significant departure from Meta’s traditional advertising-focused revenue model, positioning the company against entrenched cloud computing leaders serving artificial intelligence enterprise clients.

Market participants have demonstrated considerable enthusiasm for firms expanding AI infrastructure capabilities throughout this year. Meta’s substantial experience operating massive-scale AI systems across its social media ecosystem is viewed as a competitive advantage in penetrating this expanding market segment.

Warsh Signals Declining Inflation Threat at Federal Reserve

Federal Reserve Chair Kevin Warsh communicated to financial markets that inflationary threats have diminished, while emphasizing the central bank’s continued focus on achieving its 2% inflation benchmark.

His remarks preceded Thursday’s employment data for June, which market observers are scrutinizing for indicators regarding the trajectory of monetary policy adjustments.

For technology-oriented and expansion-focused equities, declining inflation expectations typically represent favorable conditions. Reduced borrowing costs generally enhance the present value of projected earnings, particularly benefiting companies in rapid-growth industries.

Equity Markets Maintain Upward Trajectory as New Half-Year Begins

U.S. stocks continued their positive momentum, with both the S&P 500 and Dow Jones Industrial Average recording advances on July’s opening trading session.

These gains follow what proved to be one of the most robust quarterly performances for equity markets since 2020. Market participants maintained their optimistic stance on long-term profit expansion despite persistent questions surrounding interest rate policy and economic conditions.

Semiconductor equities experienced modest headwinds throughout the trading day, though robust performance across industrial, healthcare, and consumer sectors provided sufficient support to keep broader market indices in positive territory.

Nike Shares Retreat Despite Earnings Success on China Market Concerns

Nike delivered quarterly financial results exceeding analyst projections, yet the stock declined following management’s cautious assessment of persistent challenges in the Chinese market.

Market participants concentrated on the company’s forward-looking statements rather than historical performance metrics. Leadership suggested the recovery timeline may extend beyond previous market expectations.

Nike’s quarterly performance serves as an important barometer for international consumer demand patterns. The market’s reaction to the report exemplifies a consistent theme throughout this earnings cycle — forward guidance carries greater weight than retrospective achievements.

Crude Oil Values Decline Following Diplomatic Progress With Iran

Crude oil prices retreated after diplomatic engagement between the United States and Iran alleviated concerns regarding potential interruptions to global supply chains.

Declining energy prices help moderate inflationary forces while reducing operational expenses for sectors including aviation, retail distribution, and manufacturing operations.

Given inflation remains a primary consideration for market participants, developments in energy markets will continue receiving significant attention alongside forthcoming economic indicators.

Bitcoin has remained under pressure after U.S. spot ETFs recorded $222.64 million in outflows, while Changpeng Zhao has reiterated his belief that the cryptocurrency can reach $1 million over the next decade.

According to an interview Zhao gave to Block, the Binance founder argued that Bitcoin ownership remains extremely limited worldwide, with fewer than 1% of people currently holding the asset.

🔥CZ: BITCOIN $BTC TO $1 MILLION BY 2033 IS “TOTALLY POSSIBLE”

CZ told The Block that Bitcoin holders in terms of wealth are “probably less than 1%,” meaning “the demand for Bitcoin can be significant.”

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He said if the next cycle goes 5x, Bitcoin could reach $600K, then the 2023… pic.twitter.com/TW9BOsIDmT

— Coin Bureau (@coinbureau) July 1, 2026

He said the low level of adoption leaves substantial room for future demand as more retail and institutional investors enter the market over multiple cycles.

Low ownership remains central to Zhao’s bullish outlook

Building on that argument, Zhao said Bitcoin could climb to around $600,000 during the next major market cycle, representing roughly a fivefold increase from current levels. He added that another cycle would only need to double that valuation for Bitcoin to reach the $1 million milestone, describing the scenario as achievable if adoption continues to expand.

Although Zhao acknowledged he could not predict exactly when those milestones would be reached, he maintained that long-term price appreciation would depend more on rising ownership than on short-term market speculation. He also noted that institutional participation, alongside continued retail adoption, could support Bitcoin’s value over time as ownership becomes more widespread.

Zhao’s comments come as long-term Bitcoin price forecasts remain a recurring topic across the digital asset industry, with several market participants continuing to argue that growing global acceptance could support higher valuations over the coming years.

Institutional demand pauses as technical resistance holds

While Zhao focused on Bitcoin’s long-term adoption story, U.S. spot Bitcoin ETFs experienced a setback on June 30 after recording $222.64 million in net outflows. Data from SoSoValue showed BlackRock’s IBIT accounted for the largest withdrawal, posting $212.45 million in net outflows during the session.

Even with the daily withdrawals, cumulative net inflows across U.S. spot Bitcoin ETFs stood at $51.15 billion, while total net assets remained at $70.95 billion. Daily trading volume reached $2.53 billion, indicating that investors continued to trade actively despite the temporary pullback in fund flows.

The ETF withdrawals also coincided with Bitcoin struggling to reclaim key technical levels. On the 4-hour chart, the cryptocurrency traded near $60,100, just above the 23.6% Fibonacci retracement around $60,065, while remaining below the Supertrend resistance near $60,900. A descending trendline connecting lower highs since mid-June continued to cap rallies, leaving sellers in control unless buyers reclaim nearby resistance.

If buyers manage to break above the Supertrend and the descending trendline, Bitcoin could target the 38.2% Fibonacci level near $61,444, followed by $62,559 at the 50% retracement. A sustained move beyond those barriers would expose the 61.8% Fibonacci level around $63,673, with the 78.6% retracement near $65,261 becoming the next major upside objective.

On the downside, losing the $60,065 Fibonacci support could increase selling pressure toward the recent swing low around $57,835. A break below that level would invalidate the current rebound attempt and leave Bitcoin vulnerable to a deeper decline if buyers fail to step in.

Momentum indicators, however, hinted at improving conditions. The MACD histogram has turned positive and the MACD lines have started curling higher, suggesting bearish momentum is fading even though a confirmed bullish trend reversal has yet to develop.

For now, Bitcoin’s short-term direction may depend on whether institutional demand returns after the latest ETF outflows.

A recovery above nearby resistance could strengthen the case for a move toward the mid-$63,000 region, while another rejection may keep attention on support near $57,800. Zhao’s $1 million forecast, meanwhile, continues to rest on a much longer timeline driven by rising global Bitcoin ownership rather than short-term fund flows.