SOPH, the native token of the entertainment-focused Layer 2 network Sophon, saw a strong rally today after getting listed on South Korea’s major crypto exchange, Bithumb. According to data from CoinGecko, Sophon (SOPH), the native token of the entertainment-focused Layer…

Here’s why Sophon crypto rallied over 40% today

Mounting evidence is fueling bitcoiners’ belief that Elon Musk could be 
turning full-blown maximalist, as his moves increasingly align with BTC’s 
hard-money ethos. Bitcoin Narrative Strengthens: Elon Musk Backs Brian 
Armstrong in Warning on US Dollar Decline Tesla and Spacex chief executive 
Elon Musk gave fresh weight to speculation about a pro-bitcoin shift through 
two […]

Elon Musk Inches Closer to Bitcoin Maximalism Amid US Debt Alarm

Bitcoin is experiencing a short-term price decline. In the past 24 hours, the 
asset has fallen by approximately 9.3% to a trading value of $105,062. This 
pullback places Bitcoin roughly 8% below its all-time high recorded last 
month. The dip comes amid broader market volatility, but on-chain indicators 
and exchange data suggest deeper structural trends that may influence the next 
phase of Bitcoin&#8217;s price trajectory. Recent market analysis points to renewed 
accumulation among long-term holders, a spike in exchange withdrawals, and 
rising spot trading activity on Binance. These developments are being 
interpreted as signals of underlying strength despite recent price weakness. 
CryptoQuant contributor Amr Taha has provided a detailed breakdown of these 
emerging patterns, offering a perspective on how long-term dynamics may be 
shaping Bitcoin’s current market behavior. Related Reading: Bitcoin 3–5 Year 
Holders Slow Selloff—Waiting for Higher Prices? Binance Trading Volume Rises, 
Long-Term Holders Accumulate Since early June, Binance has seen its share of 
Bitcoin spot trading volume increase from 26% to 35%, positioning it more 
firmly as the dominant platform in the market. This increase in trading 
activity has occurred as Bitcoin approaches and tests key price levels. 
According to Taha, this surge may indicate renewed interest from retail and 
institutional traders alike, particularly as volatility draws more short-term 
market participants to major exchanges. In addition to exchange volume shifts, 
on-chain data reveals growing confidence among long-term Bitcoin holders. The 
Long-Term Holder (LTH) Net Position Realized Cap, a metric that reflects the 
value of coins held by entities with a holding period of over 155 days, has 
returned above $20 billion. Historically, this type of accumulation pattern 
has preceded periods of price expansion, as long-term investors tend to hold 
through corrections and avoid frequent selling. The rise in LTH realized cap 
suggests these entities are not exiting positions during this market dip, 
which may reduce available supply and support future upward movement. Bitcoin 
Large Exchange Withdrawals Signal Tightening Supply Beyond trading activity 
and holder behavior, Taha pointed out that another notable trend is emerging 
on centralized exchanges. Over a two-day period, Kraken and Bitfinex recorded 
net Bitcoin outflows exceeding 20,000 BTC, among the largest short-term 
withdrawals in recent months. Such movements are often interpreted as signals 
of investors shifting assets into self-custody, possibly in anticipation of 
long-term holding or strategic redeployment. Related Reading: Bitcoin Could Go 
‘Bananas’ If Price Closes Above This Level, Top Analyst Says Combined, the 
rise in Binance’s market share, increased LTH accumulation, and exchange 
outflows present a picture of a market undergoing structural positioning 
rather than widespread exit activity. While the short-term price trend 
reflects a pullback from recent highs, the simultaneous withdrawal of supply 
and steady long-term holder confidence could act as foundational elements for 
potential future growth. Featured image created with DALL-E, Chart from 
TradingView

Bitcoin Pullback or Setup? On-Chain Metrics Hint at What’s Coming Next

Bitfinex analysts tell Cointelegraph that Bitcoin could surge next month if US 
job data turns out to be weaker than expected.

Bitcoin eyes $115K by July, but strong US job data to threaten rally: Analysts

Ukrainian police claimed the man’s actions caused a server hosting company to 
suffer losses estimated at over $4.4 million.

Ukraine arrests man for breaching hosting accounts to mine crypto

China is turbocharging its de-dollarization push, leveraging its SCO 
presidency to expand national currency use, supercharge financial cooperation, 
and champion a bold Eurasian economic realignment. China to Use SCO Presidency 
to Expand National Currencies and Reduce Dollar Use China is escalating 
efforts to diminish reliance on the U.S. dollar by prioritizing the use of 
national […]