U.S. banking regulators have issued a statement clarifying the rules around cryptocurrency safekeeping, or custody, by banking organizations. The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the…

Federal Reserve, FDIC and OCC clarify crypto custody rules for banks

Bitcoin has reached new milestones this week, briefly breaking above the 
$123,000 mark earlier today before retracing slightly to $121,812 at the time 
of writing. This follows a week of strong gains, with BTC rising by more than 
10% amid a broader uptrend in the cryptocurrency market. Despite the minor 
pullback, market analysts are closely monitoring on-chain and derivatives data 
to assess whether momentum is building toward a more aggressive phase of the 
rally. The recent surge has also benefited the broader cryptocurrency 
ecosystem, lifting total global crypto market capitalization to just under $4 
trillion. Related Reading: Bitcoin Breaks Records: What Miners and Leverage 
Traders Are Doing Behind the Scenes While Bitcoin continues to dominate in 
terms of volume and influence, sentiment metrics suggest that traders and 
investors may still be approaching with measured optimism. According to 
analysts, several indicators are now pointing to a potential shift in market 
dynamics that could influence Bitcoin’s next major move. Market Euphoria Not 
Yet Confirmed CryptoQuant contributor Joao Wedson has offered insights into 
the current structure of the Bitcoin market through an analysis of the price 
gap between spot and perpetual futures contracts on Binance. In a recent 
QuickTake post, Wedson noted that the spot price of Bitcoin continues to 
outpace the perpetual futures price, a sign that market sentiment has not yet 
tipped into full euphoria. Historically, a positive gap between the two 
markets has signaled increased speculative activity and the onset of parabolic 
rallies. &#8220;The gap is still in negative territory,&#8221; Wedson stated, “but the 
narrowing trend indicates that sentiment may be transitioning from cautious to 
more optimistic.&#8221; The analysis implies that traders in the futures market have 
yet to aggressively price in further upside, possibly waiting for stronger 
confirmation before deploying leverage. Should this gap flip to positive 
territory, it could be interpreted as a sign of increased risk appetite, 
potentially fueling a sharper upward move. Wedson also emphasized the 
importance of monitoring how derivatives markets respond in the coming days. 
“If the trend continues and flips positive, we could see a more intense phase 
of the rally driven by leveraged traders,” he wrote. Until then, the current 
environment appears to reflect a market in the process of building a 
foundation, rather than one that has already entered a euphoric phase. Bitcoin 
Profit-Taking Remains Measured In another analysis, CryptoQuant’s Enigma 
Trader examined the Spent Output Profit Ratio (SOPR), a key indicator used to 
evaluate the extent of realized profits by Bitcoin holders. According to the 
post, SOPR levels have remained moderately above 1 as BTC hit new highs, 
suggesting that some profit-taking is occurring, but not at a rate that 
disrupts the broader trend. The analyst observed that a spike in SOPR around 
July 3–4 coincided with short-term holders taking profits. Related Reading: 
The Bitcoin Liquidity Supercycle Has Just Begun, Says Hedge Fund CEO However, 
this activity did not result in significant downward pressure on price. “This 
behavior points to a healthy price discovery process,” Enigma Trader noted, 
adding that such conditions typically support continued upward movement when 
demand remains intact. Featured image created with DALL-E, Chart from 
TradingView

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitfinex analysts say this level of accumulation “supports the broader bullish 
narrative that new buyers entering the Bitcoin market are price-agnostic 
buyers.”

Even retail demand is now outpacing Bitcoin supply: Bitfinex

Investment giant Vanguard has stunned markets with a $9 billion stake in 
bitcoin proxy Strategy Inc., led by Michael Saylor, exposing deep 
contradictions in its anti-crypto messaging and portfolio reality. Vanguard 
Becomes Strategy’s Top Holder After Trashing Bitcoin for Years A growing 
disconnect between institutional messaging and actual portfolio exposure is 
drawing scrutiny, as major […]

Vanguard Now Strategy’s Largest Backer After Years of Dismissing Bitcoin

Bitcoin (BTC) has reignited market excitement after smashing through the 
$123,000 level. Currently, technical indicators, surging liquidity, and 
macroeconomic tailwinds have analysts predicting that the leading 
cryptocurrency is on the verge of a parabolic surge to a $140,000 top in the 
next few weeks. $140,000 Set As Bitcoin Next Top Target The Bitcoin price is 
exhibiting remarkable strength as it continues its parabolic advance beyond 
the $123,000 range. Technical indicators identified by crypto analyst Mr. Wall 
Street are now aligning around a new short-term target between $135,000 and 
$140,000. Related Reading: Here’s Why The Bitcoin And Ethereum Prices Are 
Surging Today According to the market expert’s chart report, BTC has 
successfully broken out of a Broadening Wedge pattern after consolidating 
between a descending support and horizontal resistance for nearly two months. 
The decisive breakout above the $112,000 resistance validates the analyst’s 
earlier bullish projections. Initially, the analyst proposed two possible 
scenarios: A breakout above all-time highs around $112,000 leading directly to 
a $117,000-$120,000 rally or a brief dip to $92,000 to fill the CME gap before 
continuing up toward the same target zone. Based on its recent price movement, 
Bitcoin has chosen to follow the first scenario, underscoring the strength of 
its bullish momentum and signaling that short-term Fear, Uncertainty, and 
Doubt (FUD) has had little to no effect. With the second scenario officially 
invalidated, BTC’s price trajectory is seemingly clearer and higher. The 
recent surge above $123,000 has also spotlighted the next major liquidity pool 
between $135,000 and $140,000. The chart highlights that reaching this zone 
would liquidate over $45 billion in short positions. Following this, the next 
target zone sits between $160,000 and $170,000, threatening another $70 
billion in short liquidations. M2 Surge And MACD Fuel BTC’s Bullish Case Mr. 
Wall Street’s bullish setup for Bitcoin is further supported by macroeconomic 
and key chart indicators. The analyst pointed to US President Donald Trump’s 
recent approval of a bill to raise the country’s debt ceiling—a move that 
signals accelerating debt growth. This, in turn, is expected to expand M2 
money supply, which historically correlates with rising prices for assets like 
Bitcoin. Related Reading: Bitcoin To Repeat Parabolic Phase From 2017 And 
2021? Here’s The Target BTC’s Moving Average Convergence Divergence (MACD) 
also remains fully intact across all time frames, while the Market Value to 
Realized Value (MVRV) ratio is still well below historic top levels. In 
addition, the Relative Strength Index (RSI) has yet to enter overbought 
territory. These indicators confirm that Bitcoin is still far from a macro 
top, making the $135,000 &#8211; $140,000 range a plausible interim target. Looking 
ahead, Mr. Wall Street emphasizes that Bitcoin has entered a supercycle, a 
phase where the market is marked by price discovery. While he acknowledges the 
possibility of a short-term retest of the $112,000 level before continuing 
upward, the analyst maintains that, regardless of minor pullbacks, the price 
action from here is likely to be swift and aggressive. Featured image from 
Pixabay, chart from Tradingview.com

Bitcoin Is Not Stopping At $123,000 — Technical Indicators Point To $140,000 Top

Retired DEA agent Bill Callahan tells Cointelegraph that bad actors can make 
plenty of mistakes and still “make a handsome profit.”