Bitcoin is consolidating and adjusting, with short-term direction potentially influenced by Japanese politics and tariff negotiations
According to news from Hash World, HTX DeepThink analysis points out that Bitcoin rose to $121,800 yesterday before retreating to the $118,000 range for consolidation. On-chain data shows that the average profit rate of all chips in the market has risen to about 57%, but short-term upward momentum is limited. Since there is still room for historical highs, short-term profit-taking pressure continues. The market is currently waiting for a new round of capital rebalancing signals. Meanwhile, unexpected changes in Japan's political situation have drawn market attention, as the ruling coalition led by Fumio Kishida suffered a major defeat in the Senate elections. Although he insists on staying in office, his political capital has been severely impacted. The dollar rose sharply against the yen but quickly fell back, currently fluctuating in the 145-150 range. This political uncertainty affects Japan's bargaining power in tariff negotiations with the United States, and the Bank of Japan is expected to hold off on interest rate hikes in the short term. The yen is depreciating, the stock market is under pressure, and overall risk sentiment is declining. In global trade, the EU and the US have reached a tariff coordination agreement, postponing planned tax increases and easing the tension in the supply chain across the Atlantic. This positive news has driven a rebound in European and American stock markets, but it cannot reverse the global uncertainty trend. CME Bitcoin futures open interest remains high, implied volatility in the options market is stable at mid-high levels, net inflows of stablecoins are slowing, and institutional funds are still in a wait-and-see mode. Overall, for BTC to start a major upward phase, it needs to wait for the clearing of short-term floating profit chips and clarification of macro uncertainties, especially regarding the results of Japan-US trade negotiations. Before that, BTC is expected to consolidate in the $115,000–$123,000 range. Attention should be paid to the progress of Japan's political situation and tariff negotiations in early August, as this may be a key moment for the market to choose its direction.
Bitcoin Whale Movement: A Dormant Address Activated After 14.5 Years
According to HashKey News and Whale Alert, a long-dormant address containing 3,962 Bitcoins (approximately $468 million) has been reactivated after 14.5 years of silence.
Hong Kong will prohibit the promotion of unlicensed stablecoins starting August 1
Hong Kong will implement stablecoin regulations starting August 1, prohibiting the offering or promotion of unlicensed fiat-referenced stablecoins to retail investors.
The new law stipulates that violators face fines of up to HKD 50,000 (approximately USD 6,300) and a maximum of 6 months in prison.
The Hong Kong Monetary Authority (HKMA), as the central bank of the Special Administrative Region, has issued a public warning urging investors to steer clear of unlicensed stablecoin products to avoid unintentionally breaking the law.
The president of the Monetary Authority, Yu Weiwen, stated that this new regulation aims to bring credibility and stability to the emerging stablecoin industry while protecting investors from fraud and excessive speculation.
ZachXBT Criticizes Yaps Marketing for Damaging Project Brand Image
According to HashChain News, crypto investigator ZachXBT published an article pointing out that Yaps' activities have become one of the main reasons for the project's tarnished brand image. He criticized that this mechanism attracts 'low-value farmers' who earn rewards by posting a large amount of AI-generated content, rather than truly attracting 'sticky funds' and valuable users. ZachXBT calls for the industry to 'regularly block such teams and expose false data' to curb the phenomenon of 'poor quality content flooding' in the industry.
According to news from HashiChain and market data provided by OKX, Bitcoin has just dropped to $118,000, with the current price at $11,987.60 per coin, a daily decline of 0.50%.
Breaking News: Tokyo-listed company Quantum Solutions plans to purchase up to 3,000 bitcoins within the next 12 months, expected to become Japan's largest public bitcoin holder, amid a backdrop of a weak yen and inflation concerns.
The UK and India Sign Free Trade Agreement, Eliminating Tariffs on Multiple Products
According to reports, the UK has officially signed a free trade agreement with India, eliminating tariffs on multiple products including cars and alcoholic beverages. This agreement was reached after three years of negotiations and is the largest trade agreement for the UK since Brexit, as well as India's most significant trade agreement in a decade. The agreement stipulates that 90% of tariff items on UK exports to India will be reduced, with 85% being completely duty-free within ten years; 99% of tariff items on Indian exports to the UK will also be granted reductions. This agreement is expected to bring an additional output of £48 billion to the UK economy annually and provide long-term trade growth for both countries.
Bitzero raises $25 million to expand mining operations, purchasing 2,900 mining machines
Hashi Chain has reported that the cryptocurrency mining company Bitzero, supported by Kevin O'Leary, recently raised $25 million to expand its mining operations. The company stated that the initial funds will be used to purchase 2,900 Bitmain S21 Pro mining machines, which are expected to be deployed within four to six months, generating approximately $10 million in new revenue for the company each year. At the same time, Bitzero is committed to using hydroelectric and low-carbon energy to promote sustainable development in its data centers in North America and Europe. Mohammed Bakhashwain, President and CEO of the company, stated that this financing will accelerate the deployment of leading mining technologies and further solidify Bitzero's leadership position in the sustainable and profitable data center sector.
Slow Fog CISO: Core Administrator of the World's Largest Dark Web Crime Platform XSS.is Arrested
According to reports from Hash World Chain, the Chief Information Security Officer of Slow Fog Technology, 23pds, stated on Platform X that the core management personnel of the world's largest dark web crime platform XSS.is have been arrested. This platform has been active for a long time and is one of the main trading platforms for information theft tools in the cryptocurrency industry.
XRP Sell-off: Ripple Co-founder Criticized for Dumping $175 Million XRP
Ripple co-founder Chris Larsen's associated wallet transferred 50 million XRP, worth approximately $175 million, between July 17 and 23, prompting widespread criticism from the cryptocurrency community regarding the timing of XRP's price drop.
Blockchain investigator ZachXBT pointed out in a post on X that approximately $140 million worth of XRP was sent to centralized exchanges or services, which is typically viewed as an intention to cash out.
ZachXBT noted, 'The wallet associated with Chris Larsen still holds over 2.81 billion XRP, worth $8.4 billion.' A user commented, 'It's puzzling that so many people would buy this stuff when they hold so much.'
Japanese nail salon chain operator Convano holds 79.92 bitcoins
According to Hash Chain's news, based on the announcement from Convano Co., Ltd., as of today, the company has completed two Bitcoin purchases, totaling approximately 1.4 billion yen, acquiring a total of 79.92 bitcoins. Among them, the second purchase was executed on July 22 after a board resolution, purchasing 57.29 bitcoins for approximately 1 billion yen, with an average purchase price of 17,454,084 yen per bitcoin. Convano (Tokyo Stock Exchange code: 6574) is a well-known nail salon operator in Japan.
Australian fintech company Finder wins lawsuit over crypto earnings product
The Federal Court of Australia ruled in favor of Australian fintech company Finder.com, declaring its earnings product Finder Earn as legal and compliant in a legal dispute with the Australian Securities and Investments Commission (ASIC), lasting nearly three years.
In Thursday's court ruling, Judges Stewart, Cheeseman, and Meagher confirmed the previous ruling, stating that Finder Wallet and Earn comply with consumer financial laws.
The Federal Court's preliminary ruling confirmed that Finder Earn is not a financial product, Finder stated in a blog post on Thursday.
This ruling came three months after ASIC appealed a March court decision, which previously determined that Finder's Earn product complies with Australian financial law.
The report shows that BNB Chain and TRON lead in stablecoin active address usage
According to news from Hashlink, the report 'State of Stablecoins' released by crypto research firm Messari, citing data from Artemis, shows that as of June 30, 2025, BNB Chain leads with 11.8 million active addresses in stablecoin usage, followed by TRON (9.6 million addresses) and Polygon PoS (4.9 million addresses). The data indicates that since 2023, BNB Chain and TRON have steadily increased in the number of active addresses, significantly outpacing other networks, including Ethereum (2.5 million addresses) and Solana (3.1 million addresses).
Forbes: Cryptocurrency tax treatment remains unchanged after new U.S. legislation
According to news from Hashese Chain and Forbes report, despite the recent passage of the GENIUS Act and the ongoing Senate review of the CLARITY Act, the IRS still treats cryptocurrencies as "intangible assets" for tax purposes, and there have been no substantial changes to the relevant tax regulations for investors and traders. The GENIUS Act strengthens compliance requirements for stablecoin issuers but does not affect the tax classification of crypto assets. The CLARITY Act proposes a regulatory framework for digital asset securities and commodities, but it has not changed the IRS's existing stance. Experts point out that currently, cryptocurrency transactions do not need to comply with the securities wash sale rules, allowing investors to flexibly realize loss carryforwards, but they also cannot enjoy some preferential tax treatments for securities or commodity transactions. Unless further revisions are made to U.S. tax law, cryptocurrencies will still be taxed as assets.
The cryptocurrency industry calls on Trump to stop JPMorgan from charging fees for data access
According to reports from HashChain News, ten major fintech and cryptocurrency industry associations have jointly written to President Trump, emphasizing that he should stop JPMorgan from imposing high fees for customer bank data access. The associations warned that this move could lead to millions of Americans being 'unbanked' and pose a threat to the use of stablecoins and self-custody wallets. The letter reiterated that financial data should belong to the American public, not banks. The associations urged the White House to take appropriate measures by July 29 to ensure that consumers can access bank data for free, thereby maintaining an environment for financial innovation.
Lido's share in the ETH staking market has dropped to 25%, hitting a nearly three-year low
According to news from Hashkey, based on Dune data cited by Tom Wan, Lido's share in the Ethereum staking market has fallen to 25%, the lowest point since March 2022.
Japan's Quantum Solutions Plans Major Investment in Bitcoin, Aiming to Become a Leading Holder
According to reports, Japanese listed company Quantum Solutions has announced plans to invest up to 3,000 Bitcoins, approximately 53.85 billion yen, in the cryptocurrency sector over the next 12 months. The company stated that this move aims to respond to the expansion of the global cryptocurrency market and the popularity of Bitcoin as 'digital gold,' while also diversifying assets, reducing currency risk, and addressing inflation. Quantum plans an initial investment of about 1.48 billion yen and will gradually implement this using borrowed funds. If this goal is achieved, the company will become one of the representatives among Japanese listed companies with a high Bitcoin holding.
Ghana's Central Bank Plans to Launch Cryptocurrency Regulatory Framework to Promote Digital Asset Development
According to HashChain News, Ghana's Central Bank plans to submit a licensing system for cryptocurrency platforms to Parliament in September of this year to regulate the acquisition of digital assets and related revenues. Central Bank Governor Johnson Asiama stated that this initiative aims to leverage cryptocurrency to facilitate cross-border trade, attract strategic investments, and collect financial data to promote the development of the country's digital asset sector. Current information indicates that Ghana is preparing a regulatory framework for cryptocurrency trading.
Satsuma (formerly Tao Alpha) raises over £100 million to promote AI and Bitcoin layout
According to reports, Satsuma (formerly Tao Alpha) has successfully raised £100 million in convertible bond financing. The company has now initiated its third round of financing, with the minimum investment amount reduced to $100,000, and is expected to complete this fundraising by July 28. The company plans to use these funds to expand its business and advance the construction of Bitcoin and decentralized AI infrastructure. Henry Elder has now joined the company's board and serves as an executive director.