Bitcoin’s funding rate turned positive as the cryptocurrency held the $80,000 level. Will an uptick in spot ETF inflows trigger a rally to $85,000?
Foundry USA, the world's largest Bitcoin mining pool, has opened voting for its customers on Bitcoin Improvement Proposal (BIP-110), a soft fork aiming to limit non-monetary transactions like Ordinals. The proposal faces opposition from industry leaders Adam Back and Michael Saylor, who warn of potential user fund freezes and transaction invalidation.
Bitcoin has surpassed $66,000 for the first time since early June, extending its recovery despite thin spot market activity and derivatives traders paying heavily for downside protection. The rally is supported by long-term holders refusing to sell and recovering demand from US spot Bitcoin ETFs, but its sustainability depends on attracting broader spot buyers.
US-listed spot Bitcoin ETFs recorded their sixth consecutive day of net inflows on Tuesday, adding $203.1 million, bringing the six-session total to $930 million as Bitcoin traded above $65,000.
Bitcoin (BTC) buyers are demonstrating improved absorption at the $65,000 level, following Binance's largest net outflow of over 9,000 BTC in nearly two years. Analysis from CryptoQuant suggests easing short-term supply pressure, though a new uptrend requires further spot demand and stable price structure.
Bitcoin has rebounded to nearly $66,000 from its June 30 low, but options traders are still paying high premiums for downside protection, and leveraged long positions are rebuilding. This creates a 'pre-capitulation trap' as the market awaits the Federal Reserve's policy meeting.
Balance Coin, Balance Protocol's algorithmic stablecoin, dropped over 99% after an exploit. Blockchain security firms SlowMist and PeckShield identified the cause as oracle manipulation, leading to $915,000 in losses for 42DAO.
