Author: Monkey

Editor: Monkey

1. Bitcoin Market

From July 5 to July 11, 2025, the specific trends of Bitcoin were as follows:

July 5: Bitcoin continued its weak pattern from the previous trading day, quickly dipping to a low of $107,412 in the morning session. After a brief rebound to $107,894, it fell again, testing previous low support. It then found initial support around $107,412, stabilized, and slightly rebounded, reaching a high of $108,248. After that, the price fluctuated narrowly around $108,100, indicating that both bulls and bears were in a cautious wait-and-see state, with weak momentum.

July 6: The market continued the consolidation trend from the previous day, with prices still slightly oscillating near $108,100, and the amplitude further converging. In the evening, bulls began to attempt a breakout, with prices rising from $108,034 to an intraday high of $109,038, followed by a slight pullback, returning to consolidate around $108,800.

July 7: The day's trend saw increased volatility, with market sentiment reversing multiple times, displaying obvious wide fluctuations. In the morning, Bitcoin fell from $108,966 to $108,395 before quickly rebounding, reaching a high of $109,470. The price then experienced sharp fluctuations, first dipping to $108,735, then surging to $109,627, but the upward momentum could not be sustained, entering a downward trend, with a low of $108,011, ultimately closing at $108,314, with a daily amplitude exceeding 1.5%.

July 8: The overall trend showed a rising oscillation, but the battle between bulls and bears remained intense. After a brief dip to $107,681 at the opening, bulls gradually gained strength, pushing the price up to $108,372. After a while, selling pressure emerged, causing the price to retreat to $107,586. In the afternoon, market confidence warmed, and the price steadily climbed, briefly reaching $109,067, before pulling back to $108,186, presenting a rhythm of "testing the bottom --- rebound --- surge --- pullback" throughout the day.

July 9: Bitcoin's bullish sentiment significantly warmed, with a strong upward attack in the morning, breaking the previous day's high and quickly rising to $109,137. After a brief pullback, it found support and quickly surged again to around $109,128, indicating strong upward momentum. However, as profit-taking emerged at high levels, the price fell back to $108,389, but buying pressure below actively supported the market, leading to a rapid rebound that broke through the morning high, reaching a peak of $109,737, setting a new high for the phase. A subsequent technical pullback brought it down to $108,598, but it quickly recovered, ultimately closing at $109,091, near the day's high, indicating that bulls were in control.

July 10: Continuing the upward momentum from the previous day, the price oscillated and rose to $109,566, then surged sharply to $111,907, with Bitcoin prices breaking historical highs, nearing $112,000 per coin, with a daily increase of nearly 3%. It then slightly pulled back to $110,756, followed by sideways fluctuations around $111,150. In the evening, it dipped slightly to $110,761, then quickly surged, ending the day at $111,450.

July 11: Bitcoin continued the strong upward trend from the previous trading day, directly breaking the previous high in the morning, quickly reaching $113,820, once again refreshing the historical high. After a brief technical pullback, the price found support around $113,637 and restarted its upward momentum, quickly rising to $116,526. As of the time of writing, Bitcoin prices had further climbed to $118,050, indicating a continued influx of funds and a strong trend. Currently, Bitcoin is in an accelerated upward phase, and the short-term outlook remains bullish, but attention should be paid to whether there will be signs of volume stagnation and pullback to assess the sustainability of the upward trend.

Summary

From July 5 to 9, BTC showed an overall range-bound oscillation, operating within the $107,500--$110,000 range, with market sentiment gradually building up, and bulls and bears locked in a stalemate at high levels, with stable turnover of chips. After entering July 10, Bitcoin initiated the first wave of volume-driven attacks, breaking the previous high to $111,907, approaching the $120,000 mark, with effective technical breakthroughs. Subsequently, on July 11, it continued the upward momentum, rising consecutively and accelerating, breaking through the significant thresholds of $114,000 and $116,000, forming a typical stair-step upward structure, with bullish sentiment running high. As of the time of writing, Bitcoin prices are maintained around $118,000, with a significant cumulative increase for the week, and the market has entered a strong trend phase. Overall, this round of increase features clear structure, good volume coordination, and strong capital drive, with the trend still leaning bullish in the short term, but attention should be paid to increased volatility at high levels and potential overbought pressure.

Bitcoin Price Trend (2025/07/05-2025/07/11)

2. Market Dynamics and Macroeconomic Background

Capital Flow

1. Long-term Holding Configuration Stabilized

According to Cointelegraph, over 30.4% of Bitcoin has been dormant in addresses for ≥ 5 years, indicating that long-term holders remain steadfast in their beliefs.

2. Bitcoin Market Share Hits New High

On July 6, BTC market share (BTC.D) rose to 64.7%, approaching previous cycle highs, indicating that market funds favor Bitcoin assets.

3. Global Liquidity/Bitcoin Supply Ratio Hits 12-Year High

Ark Invest's report on July 9 pointed out that the global M2 broad money supply compared to circulating Bitcoin reached $5.7M per coin, the peak since 2013. As Bitcoin supply growth slows and global currency continues to expand, this ratio is expected to rise, reinforcing the logic of Bitcoin's scarcity.

4. Derivatives and Institutional Dynamics

Leverage funds in the futures market have begun to flow back, with significant increases in open interest (OI) across multiple platforms: CME up 18%, Binance up 12%. As of July 11, according to Coinglass data, the total open positions of Bitcoin futures contracts across the network reached 701,330 BTC (approximately $81.47 billion), setting a new historical high. Among them, CME Bitcoin contracts had open positions of 154,220 BTC (approximately $17.91 billion), ranking first globally; Binance had 116,840 BTC (approximately $13.57 billion), ranking second.

In the options market, demand for call options has significantly increased, with positions targeting BTC at $160,000 and $180,000 becoming mainstream. Meanwhile, long and short CVD data shows that although the overall market atmosphere is optimistic, some institutions have begun defensive hedging operations, indicating that market fluctuations may intensify in the short term, necessitating attention to potential risks.

5. Spot Bitcoin ETF

Daily ETF inflow/outflow details for this week:

July 7: +$216.5 million
July 8: +$75.3 million
July 9: +$215.7 million
July 10: +$1.1756 billion

According to Farside Investors monitoring data, since the official approval of the spot Bitcoin ETF in January 2024, total net inflows have exceeded $50 billion.

ETF Inflow/Outflow Data Image

BlackRock IBIT Becomes Market Anchor Force

BlackRock's IBIT ETF has surpassed 700,000 BTC in holdings, with a current market value of $75.5 billion, making it the largest BTC spot ETF globally, accounting for over 55% of all spot ETF holdings in the U.S. Since its establishment in early 2024, IBIT has achieved a return of 82.67%, with a net inflow of $165 million this week.
According to Galaxy Research, IBIT and institutions like MicroStrategy have cumulatively purchased $28.2 billion in BTC, far exceeding the on-chain new supply of $7.85 billion during the same period, indicating that institutions continue to "grab coins," becoming

ETF total holdings have become the main driving force in the Bitcoin market.

The supply-demand contradiction between ETFs + institutions and on-chain supply has exacerbated the circulation of coins by 6.3% (> 1.33 million BTC), while exchange hot wallet balances have reached a new low since 2018 (< 14.5%).

Institutional buying exceeds mining output, directly draining liquidity from the chain, exacerbating the "supply exhaustion" trend, which is beneficial for long-term price support.

Regulatory Attitude Eases, ETF Development Enters New Phase

The U.S. SEC is studying ways to simplify the ETF approval process, proposing to unify the S-1 application form and establish a 75-day default effectiveness mechanism, which is favorable for the efficiency of subsequent product approvals.
Earlier this month, REX-Osprey launched the first Solana ETF supporting staking returns, marking the ETF market's expansion into multi-chain assets.

The structural buying of ETFs + signals of regulatory easing are reshaping the market's fundamental structure. Continuous attention should be paid to policy rhythms and changes in ETF net liquidity to avoid short-term pullback risks.

Technical Indicator Analysis

1. Relative Strength Index (RSI 14)

According to Investing.com data, as of July 11, 2025, Bitcoin's 14-day relative strength index (RSI) was 82.721, far above the overbought threshold of 70, in a strong overbought range (80--90). This value indicates that current market sentiment is extremely optimistic, with bullish momentum continuing to dominate, and a large influx of short-term funds pushing prices up rapidly.

However, a high RSI also means that there may be a risk of a short-term technical pullback in the market, and caution should be exercised regarding price fluctuations caused by high-level consolidation or profit-taking. Historical data shows that RSI typically runs above 80 for a short duration, and investors should pay attention to any divergence signals to assess potential turning points in the market.

2. Moving Average (MA) Analysis

5-day moving average (MA5): $111,828.73

20-day moving average (MA20): $107,925.00

50-day moving average (MA50): $106,097.48

100-day moving average (MA100): $96,283.26

200-day moving average (MA200): $93,182.04

Current market price: $118,050.57

MA5, MA20, MA50, MA100, MA200 Data Image

From the perspective of various moving averages, Bitcoin prices are significantly above all major moving average levels, and the technical structure shows a standard bullish arrangement (Golden Cross), reflecting that the market trend remains strong in the medium to short term, with buying pressure dominating the situation.

MA5, MA20, and MA50 moving averages are rising in a stair-step manner, indicating strong short-term upward momentum; the continued rise of MA100 and MA200 indicates that the medium to long-term trend has also completely turned bullish; the current price has deviated from MA20 by over $10,000, indicating that the market has entered an accelerated upward phase, but attention should also be paid to the risk of pullbacks due to excessive deviation from the moving averages.

Investors should monitor whether there is a confirmation process for pullbacks to MA5 or MA20 in the short term to assess the sustainability of the upward trend.

3. Moving Average Convergence Divergence (MACD) Analysis

According to Investing.com data, as of July 11, the MACD fast line was 1718.34, but based on market performance and RSI indicators, bullish momentum is significant, in a bullish arrangement state. The MACD currently issues a strong "Buy" signal, with the technical trend clearly leaning bullish. However, the MACD is also in a high range, and if subsequent momentum slows down or a top divergence signal appears, caution should be exercised regarding short-term price fluctuations or pullback risks.

4. Key Support and Resistance Levels

Support Levels: The current short-term key support levels for Bitcoin are at $116,000, $113,500, and $111,000. On July 10, BTC prices consolidated around the $111,000 area, demonstrating good support strength; if prices undergo further adjustments, the $108,000--$110,000 range forms the second important support zone. Specifically, during the consolidation phase from July 5 to 6, $108,000 showed good support; during multiple pullbacks from July 7 to 9, the $108,000 to $109,000 range continuously supported the downward trend.

Resistance Levels: The current short-term major resistance levels for Bitcoin are at $119,000 and $120,000 (psychological round numbers). The current price is around $118,000, and if bulls can successfully break through $120,000 with increased volume, it will open up further upward space or initiate a new price discovery process. Otherwise, if resistance continues, there is a possibility of a pullback to the $116,000 level in the short term.

In summary, Bitcoin prices have recently successfully broken through historical highs, refreshing to around $118,000, indicating that the market is in the initiation phase of a new upward trend. In the short term, attention should be paid to the stability of prices around $118,000 and the ability to break through resistance levels of $119,000 and $120,000. If the upper resistance is effectively breached, the market is expected to further expand its gains and enter a new phase of price discovery; conversely, if resistance continues, it may pull back to the lower support zone for technical consolidation.

Market Sentiment Analysis

1. Sentiment Overview

This week (July 5--July 11), Bitcoin market sentiment showed significant fluctuations, with the overall trend evolving from wait-and-see, oscillation to warming sentiment. Between July 5 and 6, Bitcoin prices maintained a narrow range of consolidation, with market trading sentiment being cautious, and most investors were in a wait-and-see state, lacking clear directional judgments. From July 7 to 9, the market entered a wide oscillation phase, with Bitcoin prices fluctuating sharply around key technical levels, and sentiment fluctuated accordingly, showing signs of warming speculative sentiment. Entering July 10 to 11, the market sentiment underwent a fundamental shift. Bitcoin prices continuously broke through previous historical highs, peaking at the $118,000 area, refreshing the phase's new high, forming a typical pattern of breakout with increased volume. This round of upward movement was accompanied by a simultaneous increase in trading volume, and market FOMO (fear of missing out) sentiment rapidly spread, significantly enhancing investor confidence, accelerating capital inflow, and creating a strong bullish atmosphere, officially entering a new round of trend-driven upward phase.

Overall, this week, Bitcoin market sentiment achieved an orderly progression from "cautious wait-and-see → oscillation testing → optimistic breakout," especially after July 10, where bulls firmly established dominance, and the sentiment has positively responded to the market, likely pushing prices into higher price discovery ranges supported by technical structures and capital momentum.

2. Key Sentiment Indicator (Fear and Greed Index)

As of July 11, the Fear and Greed Index reported 67, falling within the "Greed" range, reflecting a significant warming of market sentiment, with investors showing strong willingness to chase prices and participate in the market.

Looking back at this week (July 5--July 10), the daily values of the index were: 51 (neutral), 50 (neutral), 52 (neutral), 50 (neutral), 52 (neutral), 58 (neutral upper edge). From the trend, the index hovered in the "neutral" to "neutral slightly optimistic" range (50--58) during the first six days of the week, indicating that market sentiment was relatively rational, with investors mostly maintaining a wait-and-see attitude, lacking decisive emotional drives. However, on July 11, as Bitcoin prices strongly broke through previous highs and set new phase highs, the Fear and Greed Index surged to 67, reflecting that market sentiment entered a clear "Greed" phase, with accelerated capital inflow and gradually emerging FOMO sentiment. This sudden change indicates that market sentiment is rapidly shifting from "wait-and-see" to "active participation" following price rhythms, significantly enhancing bullish sentiment in the short term.

Fear and Greed Index Data Image

Macroeconomic Background

Shift in Federal Reserve Policy Expectations

The minutes from the June FOMC meeting released on July 10 showed that while most officials believed in "maintaining patience," some officials (such as Waller and Bowman) clearly expressed support for a quick rate cut.
After the market reassessed the direction of the Federal Reserve's monetary policy, expectations for a rate cut in September significantly warmed, boosting Bitcoin's strength as a risk asset.
Federal funds futures indicate that the market's probability of a rate cut in September has risen to about 70%, an increase of over 20% from last week.

U.S. Imposes Large Tariffs on Japan, South Korea, and Other Countries

On July 7, U.S. President Trump announced a 25% tariff on Japan, South Korea, and other countries, threatening to impose tariffs on countries supporting BRICS. Deutsche Bank warned that "summer low liquidity + tariffs + inflation fantasies + Fed expectation imbalance" could trigger market turmoil.

Geopolitical Risks and Middle East Situation

This week, the situation in the Middle East remained tense, with rising geopolitical risks. Trump visited Saudi Arabia and Israel, attempting to promote an anti-Iran alliance while issuing strong warnings to Iran, stating, "If conflict breaks out, the U.S. may intervene." Iran strongly countered, escalating regional tensions. In the short term, the Middle East situation remains an important external variable for market fluctuations.

Continued ETF Inflows and Corporate Bitcoin Purchases Drive Capital Backflow

At the same time, continued investments from institutional investors and corporations provide strong buying support for Bitcoin. Spot Bitcoin ETFs represented by BlackRock and Fidelity saw net inflows rise again in early July, with cumulative inflows nearing $150 billion, becoming an important driver of Bitcoin's recent rise.

Additionally, companies such as MicroStrategy, Trump Media, and GameStop have recently increased their Bitcoin holdings, indicating that the trend of "corporate asset reserve" continues to strengthen. The influx of these large funds offsets the liquidity impact brought by token unlocks and enhances market expectations for stability in mainstream cryptocurrencies.

3. Hash Rate Changes

From July 5 to July 11, 2025, the Bitcoin network hash rate exhibited fluctuations, with the following specifics:

On July 5, the total network hash rate (hash rate) showed an initial rise followed by a decline, gradually climbing from 948.24 EH/s to an intraday high of 1.0418 ZH/s, then oscillating back down to 867.11 EH/s, ending the day slightly up at 909.57 EH/s. On July 6, the hash rate fell to 821.82 EH/s in the morning, then rebounded strongly, briefly rising to 995.30 EH/s. The trend then weakened, with two oscillating pullbacks throughout the day, closing at 902.59 EH/s. On July 7, the hash rate continued its overall downward trend, with multiple spikes and pullbacks during the day, fluctuating between 961.41 EH/s, 886.68 EH/s, and 944.21 EH/s, further dropping to 842.87 EH/s by the end of the day, indicating some instability in power supply or hash rate deployment.

On July 8, the hash rate continued to oscillate, briefly rebounding to 895.43 EH/s during the day, but then retreated, falling to a low of 792.20 EH/s, ultimately closing at 817.77 EH/s, continuing the previous downward trend. On July 9, the hash rate continued to weaken, dipping to a weekly low of 782.96 EH/s in the morning. It then rebounded strongly, reaching a daily high of 993.68 EH/s, reflecting a temporary release of hash rate due to the restart or adjustment of many miners. By the end of the day, it fell back to 917.05 EH/s. On July 10, the hash rate showed an upward oscillation trend, gradually rising from 867.02 EH/s to 1.0095 ZH/s. After entering July 11, the hash rate continued to rise, peaking at 1.0214 ZH/s, then slightly retreating, hovering around 921 EH/s as of the time of writing.

This week's hash rate trend exhibited significant volatility, mainly divided into three phases: July 5 to 6: The hash rate quickly fell back after reaching 1.0418 ZH/s, indicating signs of some miners temporarily going offline or reallocating hash rate; July 6 to 8: The total network hash rate continued to oscillate downward, gradually falling from the peak of 995.30 EH/s to 792.20 EH/s, reflecting potential impacts from network load pressure or power supply fluctuations in some regions; July 9 to 10: After hitting a bottom, the hash rate rebounded quickly, indicating that some mining farms resumed operations, and the network hash rate recovered and rose to high levels, overall showing a trend of oscillating recovery. Overall, during this period, the Bitcoin network hash rate displayed high volatility, and in the short term, it may still maintain an oscillating pattern, requiring attention to the operational conditions of major mining farms in North America and Asia and changes in energy costs affecting network hash rate.

Bitcoin Network Hash Rate Data

4. Mining Revenue

According to YCharts data, the total daily revenue of Bitcoin miners (including block rewards and transaction fees) for this week was as follows: July 5: $53.45 million; July 6: $54.69 million; July 7: $52.45 million; July 8: $49.38 million; July 9: $56.61 million; July 10: $60.48 million. Overall, the average daily income of miners this week remained in the range of approximately $49 million to $60 million, showing a relatively stable and slightly rising trend. Compared to the same period last month, the overall income level has slightly improved, mainly benefiting from the recent breakthrough in Bitcoin prices and the recovery of on-chain transaction activity, which in turn increased transaction fee income. Notably, on July 10, it reached a peak of $60.48 million, driven by both the rise in Bitcoin prices and the increase in trading volume.

From the perspective of daily earnings per unit of hash rate (Hashprice), Hashrate Index data shows that Hashprice exhibited a trend of oscillating upward, with a significant surge at the end of the week. As of July 11, the Hashprice was reported at $63.97 per PH/s per day, nearing historical highs. Specifically, from July 5 to 6, Hashprice remained around $58.45 per PH/s per day, with limited overall fluctuations; on July 7, it slightly rose to $59.29 per PH/s per day, followed by a brief pullback; on July 9, it rose again to $59.38 per PH/s per day; on July 10, it saw a significant increase, reaching $63.97 per PH/s per day by the 11th, marking a new high in nearly three months.

In summary, the performance of mining revenue and Hashprice this week indicates that miners' overall profitability is robust, with an upward trend in the short term. If Bitcoin prices continue to remain strong, and on-chain transaction activity maintains current levels, it is expected that Hashprice will oscillate within the range of $63 to $65 per PH/s per day, providing ample profit margins for miners.

It is particularly noteworthy that as the next round of network difficulty adjustment approaches, if hash rate continues to grow rapidly or Bitcoin prices adjust, Hashprice may face some downward pressure. Miners should closely monitor Bitcoin market trends and changes in network difficulty, flexibly adjust hash rate deployment and power resource allocation, optimize mining efficiency, and enhance risk resistance. Additionally, the increasing proportion of on-chain transaction fees indicates a warming market demand for trading, and if accompanied by more innovative applications and the implementation of layer-two scaling solutions, trading activity is expected to further increase, becoming a new important support point for miners' income.

Hashprice Data

5. Energy Costs and Mining Efficiency

According to CloverPool data, as of July 11, 2025, the total network hash rate of Bitcoin has reached 915.91 EH/s, setting a new high for the year. The current network mining difficulty is 116.96 T, and the next difficulty adjustment is expected to occur on July 12, estimated to increase by 7.33% to 125.54 T. This reflects the continued rise in overall network hash rate, with miners actively deploying more efficient mining machines, indicating that the market remains optimistic about Bitcoin's medium to long-term price trends. Historically, rapid increases in mining difficulty usually indicate intensified competition among miners, especially during high price oscillation phases, where mining companies are eager to increase marginal output. This trend also highlights the competitive advantages of large mining companies in terms of scale effects and energy control.

From the perspective of mining costs, according to the latest model calculations by MacroMicro, as of July 9, 2025, the unit production cost of Bitcoin is approximately $86,692.84, while the spot price during the same period is $111,326.55, resulting in a difference of $24,633.71, corresponding to a Mining Cost-to-Price Ratio of 0.78. This ratio is at the lower end of the historically reasonable range, indicating that most miners in the current market are in a stable profit state, with considerable profit margins. Particularly, medium to large mining companies with advanced mining machines and low electricity costs may have actual unit costs as low as below $70,000, showcasing even more prominent profitability.
Conversely, for small miners relying on traditional models or facing high electricity costs, while profits still exist, their ability to withstand pressure is relatively weak. If Bitcoin prices adjust or difficulty continues to rise, they may face the risk of being squeezed out first.

Additionally, a Mining Cost-to-Price Ratio of 0.78 also holds certain market reference significance: when this value approaches or exceeds 1, it usually indicates rising market pressure, and some miners may be forced to shut down, reducing hash rate and forming price bottom support; while the current level below 0.8 indicates that Bitcoin prices still have downward buffer space, with miners' sentiment being optimistic, and network security remaining high.

In conclusion, the current structure of mining costs provides favorable support for miners and establishes a solid foundation for Bitcoin's spot price.

Bitcoin Mining Difficulty Data

6. Policy and Regulatory News

U.S. Senator Proposes Sanctions Against El Salvador President Bukele, Accusing Him of Bitcoin Abuse and Human Rights Violations

On July 10, U.S. Democratic Senator proposed the "El Salvador Accountability Act" (S.2058), calling for sanctions against El Salvador President Nayib Bukele and his government members. The bill, introduced by Senators Chris Van Hollen, Tim Kaine, and Alex Padilla, accuses the El Salvador government of violating international human rights standards and abusing Bitcoin. The bill demands that the Trump administration freeze the relevant individuals' assets in the U.S., deny them visas, and suspend financial aid. Additionally, the U.S. Secretary of State must submit a detailed report on El Salvador's cryptocurrency usage within 90 days after the bill's passage, including the amount of public funds used to purchase Bitcoin, the exchanges used, and related wallet addresses.

In response, President Bukele hinted on social media that the motives behind the U.S. lawmakers' sanction attempts were impure. Notably, Bukele had a good relationship with President Trump, having been invited to the White House in April this year, and two months later, Trump's advisors met with him to discuss cryptocurrency cooperation.

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7. Mining News

Vitalik: Environmental Costs of Avoiding Geographic Overconcentration in the Crypto Space Are Acceptable, Better Than Mining's Negative Impact

On July 6, Ethereum co-founder Vitalik Buterin responded to a user's views on collective carbon footprints, where the user pointed out that "industry professionals may frequently fly globally to attend multiple events, but this behavior is not the actual goal of solving the problem, but rather for business or spending time with friends." Vitalik responded, "To avoid the overconcentration of cryptocurrency in one geographic area, the environmental costs are acceptable, and this trade-off is more favorable than the negative impacts of mining."

Russia Begins Establishing a National Cryptocurrency Mining Equipment Registration System to Combat Illegal Mining Activities and Increase Tax Revenue

On July 7, it was reported by Cryptonews that the Russian Ministry of Energy has begun compiling a national cryptocurrency mining equipment registration system aimed at combating illegal mining activities and increasing tax revenue.

This registration system will serve as a central database for all equipment used for cryptocurrency mining in the country, jointly developed by the Ministry of Energy, the Federal Tax Service, and the Ministry of Digital Development. Petr Konyushenko, Deputy Minister of Energy of Russia, stated that this system will help authorities "accurately identify" who is using electricity for cryptocurrency mining, ensuring that miners comply with relevant laws and increasing tax revenue.

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Trump's Son Eric Trump: Trump Does Not Own a Bitcoin Mining Company

On July 10, Eric Trump, Trump's son, posted on social media stating that U.S. President Trump does not own a Bitcoin mining company.

8. Bitcoin News

Global Corporate Bitcoin Holdings Dynamics (This Week's Statistics)

1. Strategy (formerly MicroStrategy, USA)
   Increased holdings by 4,980 BTC from June 23 to 29, bringing total holdings to 597,325 BTC.

2. BlackRock (USA)
   As of July 8, BlackRock's IBIT fund currently holds 700,307 BTC, valued at approximately $75.5 billion.

3. El Salvador (Country)
   Increased holdings by 8 BTC in the past 7 days, bringing total holdings to 6,230.18 BTC.

4. Smarter Web Company (UK)
   Increased holdings by 226.42 BTC on July 7, bringing total holdings to 1,000 BTC.

5. The Blockchain Group (Europe)
   Increased holdings by 116 BTC on July 7, bringing total holdings to 1,904 BTC.

6. Monochrome (Australia)
   As of July 4, its spot Bitcoin ETF holdings increased to 937 BTC.

7. Coinsilium Group (UK)
   Increased holdings by 14.9 BTC on July 7, bringing total holdings to 88.63 BTC.

Public Company Bitcoin Treasury Dynamics (This Week)

Murano (NASDAQ-listed real estate company)
On July 8, Murano announced a $500 million equity agreement to establish Bitcoin reserves, acquiring 21 BTC; plans to use BTC for hotel payments and membership rewards, joining the "Bitcoin for Corporations" alliance.

Nakiki SE (German-listed company)
On July 8, Nakiki SE announced plans to become Germany's first publicly listed company to fully adopt a "pure Bitcoin" treasury strategy, planning to propose a name change and strategic adjustment at the 2025 shareholders' meeting, and is discussing with investors about raising funds through stock issuance to acquire BTC.

Metaplanet (Japanese-listed company)
On July 8, Metaplanet launched the second phase of its Bitcoin strategy, planning to use BTC as collateral for financing and considering acquiring a local digital bank in Japan to expand digital financial services.

Sequans Communications (NYSE-listed company)
On July 8, Sequans completed $384 million in financing, which will be fully used to initiate a Bitcoin treasury plan, including $195 million in PIPE financing and $189 million in convertible bond issuance.

Remixpoint (Japanese-listed company)
On July 9, Remixpoint announced financing of 31.5 billion yen (approximately $215 million), planning to use the entire amount to increase Bitcoin holdings, targeting an increase from the current 1,051 BTC to 3,000 BTC. It had previously announced full payment of CEO salaries in Bitcoin.

DDC Enterprise (NYSE-listed company)
On July 10, DDC Enterprise signed a non-binding memorandum of understanding with Animoca Brands to collaborate on advancing Bitcoin yield enhancement strategies. Animoca Brands will provide up to $100 million in BTC, with DDC responsible for operations and risk management.

K Wave Media (NASDAQ-listed company)
On July 10, K Wave Media announced it secured $1 billion in financing to support its Bitcoin strategy, including a $500 million convertible bond agreement and a $500 million standby equity agreement, having purchased an initial batch of 88 BTC, planning to use at least 80% of financing proceeds for BTC purchases, targeting an expansion to 10,000 BTC.

"Rich Dad Poor Dad" Author: Losers Warn of Bitcoin Collapse to Scare Off Speculators, I Will Just Buy More

On July 5, Robert Kiyosaki, author of "Rich Dad Poor Dad," tweeted, "Losers use 'clickbait' to constantly warn of a Bitcoin collapse, trying to scare off speculators. I actually hope for a Bitcoin collapse because I will just buy more."

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Musk: "The American Party" Will Embrace Bitcoin

On July 7, in response to a question from an X user about whether the American party would embrace Bitcoin, Musk replied, "Fiat currency has no hope, so yes."

BlackRock IBIT Holdings Exceed 700,000 BTC

On July 8, after recording a net inflow of $164.6 million on Monday, BlackRock's IBIT fund currently holds 700,307 BTC, valued at approximately $75.5 billion. This data comes from Thomas Fahrer, co-founder of Apollo.

According to BlackRock's official iShares website, as of last Thursday, IBIT held 698,919 BTC, indicating that the fund added 1,388 BTC over two trading days. According to Bitbo data, IBIT accounts for over 55% of the total holdings of all Bitcoin spot ETFs in the U.S.

Since its establishment in January 2024, the fund has achieved a total return of 82.67%. As this Bitcoin holding milestone is reached, reports indicate that the income generated by BlackRock through IBIT has exceeded that of its flagship product—the iShares Core S&P 500 ETF.

Bitwise: Public Company Bitcoin Holdings Exceed 847,000 BTC, Q2 Increases Set Historical Highs

On July 10, Bitwise released its "2025 Q2 Corporate Bitcoin Adoption Report," showing that as of June 30, a total of 125 publicly listed companies hold Bitcoin, totaling 847,000 BTC, accounting for 4.03% of Bitcoin's total supply, with a total market value of approximately $91 billion, a quarter-on-quarter increase of 60.93%. This quarter saw a new purchase volume of 159,000 BTC, the highest ever; 46 new companies began holding Bitcoin. Among the leading companies, Strategy ranks first with 597,000 BTC, followed by MARA Holdings (49,940 BTC) and newcomer Twenty One (37,230 BTC). The report also noted that GameStop made its first purchase, and Trump Media is raising $2.5 billion for Bitcoin accumulation.

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Institutional Demand Drives Bitcoin to New Highs

On July 11, Tickmill Group analyst Patrick Munnelly stated in a report that Bitcoin's rise to historical highs was driven by sustained buying from institutional investors and support measures from President Trump. He stated, "The recent surge in Bitcoin's value is driven by institutional investors' ongoing purchases, which are significantly reducing available supply on trading platforms." Additionally, Trump has ordered the establishment of a Bitcoin strategic reserve, and the U.S. Senate passed a bill last month to provide a regulatory framework for stablecoins.