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BlackRock IBIT and MicroStrategy reveal 2 paths to Bitcoin accumulation
Edgen Crypto·Jul 23 2026, 19:48Share to
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[1] BlackRock IBIT And MicroStrategy Show Two Very Different Ways To Accumulate Bitcoin (https://www.newsbtc.com/news/blackrock-ibit-a ...)[2] Silver +163%, Gold +142% Since 2023 — Bitcoin Drops 24%. Could 2026 Be the Year of Precious Metals? (https://www.msn.com/en-us/money/economy/silve ...)[3] My trading game plan revealed - 05/15/2026: Semiconductor rug pull and historic breadth divergence as yields rise (https://www.msn.com/en-us/money/top-stocks/my ...)[4] BitMine Bought $73M in Ethereum But Why Did Its BMNR Stock Fall? (https://memeburn.com/bitmine-ethereum-treasur ...)[5] Coinbase signals Everything Exchange expansion and $2B buyback amid diversified revenue growth (https://www.msn.com/en-us/money/economy/coinb ...)
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Jul 23 2026, 20:40
Bitcoin drops to $64,000 as tech earnings spark broad crypto sell-off
Bitcoin fell to $64,000 on July 23 as disappointing technology earnings triggered a broad sell-off across crypto markets. The decline dragged Ethereum, XRP and Dogecoin lower, with the Crypto Fear & Greed Index retreating into Fear territory. "$64,000 is the key support level to watch in the short term," Julio Moreno, head of research at CryptoQuant, said. "This level has been a reliable support during this bear market." The sell-off followed weaker-than-expected earnings from major technology companies, which weighed on equity markets and spilled into crypto. The Nasdaq 100 futures declined 0.3% on the session, while the S&P 500 futures fell a similar margin, leaving crypto without a macro tailwind. The US five-year Treasury yield rose to 4.33%, reflecting expectations that the Federal Reserve may maintain tighter policy for longer, a headwind for risk assets. Bitcoin's futures open interest slipped to 743,000 BTC from over 760,000 BTC earlier in the week, suggesting an unwinding of long positions rather than fresh short entries, per Coinglass data. The 30-day implied volatility index for Bitcoin, BVIV, rose for a fifth straight day, a pattern that has historically correlated with near-term price weakness since the launch of spot ETFs. The $64,000 level represents the lower boundary of a range that has held for the past week, with resistance at $66,800. A sustained break below $64,000 could open the door toward the $60,000 support zone, according to multiple analysts. The Federal Reserve's July 28-29 meeting looms as the next major catalyst, with traders watching for any shift in rate expectations that could determine whether the range holds or breaks. **ETF flows offer a counterweight** Despite the price weakness, spot Bitcoin ETF inflows remained positive for a seventh consecutive day on July 22, with $68.99 million in net inflows, according to SoSoValue data. The continued accumulation by institutional investors suggests long-term demand remains intact even as short-term macro uncertainty weighs on prices. Strategy, formerly MicroStrategy, raised $263 million through a stock sale in the prior week, easing concerns about potential Bitcoin sell pressure from its balance sheet. Bitcoin's options market showed demand for the $70,000 call option expiring Aug. 7 on Deribit, even as some traders simultaneously picked up longer-duration puts as a downside hedge. **Key levels to watch** Bitcoin's 50-day exponential moving average sits at $65,163, a level that bulls must reclaim to stabilize price action. The 100-day EMA at $68,063 represents the next resistance, while the 200-day EMA at $74,348 marks the broader recovery target. The Relative Strength Index stands at 52, above the neutral 50 threshold, indicating that bearish momentum has not fully taken control. On the upside, Maxime Seiler, co-founder and CEO of STS Digital, identified $70,000 to $72,000 as the zone to watch into month-end. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 20:12
XRP holds above $1.13 breakout as analyst targets $6.40 and $30
XRP traded at $1.13 as of 14:30 UTC on July 23, holding above a multi-year breakout level that a veteran analyst said could fuel a rally to $6.40 in the near term and $30 over the long run. "The breakout retest is complete — holding $0.85 to $0.88 is the key," Egrag Crypto, a technical analyst with more than 100,000 followers on X, said. "Reclaiming $1.23 and $1.65 opens the path toward $3 to $3.50." The analyst identified the $0.85-$0.88 range as the critical support zone, encompassing the bottom of a multi-year symmetrical triangle, the White Bridge pattern, and the expected retest level. Sustained monthly closes below that range would invalidate the bullish setup. On the upside, the first measured-move target sits at $6.40, with a macro projection of $30 contingent on acceptance above prior highs. The bullish structure is reinforced by on-chain data showing whale accumulation accelerating and XRPL daily payments exceeding 500,000 transactions. However, XRP ETF inflows have cooled from a $131.94 million peak in May to just $12.43 million so far in July, signaling that institutional demand may be fading even as retail and whale activity strengthens. **Golden Cross and Cup-and-Handle Bolster Technical Setup** XRP's price action has produced two bullish chart patterns in recent weeks. A golden cross formed when the 50-day moving average crossed above the 200-day moving average, a signal historically associated with improving medium-term momentum. Separately, a cup-and-handle pattern has been developing since early July, with the handle forming as XRP consolidates near $1.13. The 20-day exponential moving average sits at $1.11130, providing immediate support, while the 50-day EMA at $1.14479 acts as nearby resistance. Bollinger Bands place the middle band at $1.11091 and the upper band at $1.16209, suggesting a breakout above $1.16 could accelerate buying pressure. On the downside, a drop below $1.13 exposes $1.12, then the $1.09 support zone. **Whale Accumulation Offsets Cooling ETF Demand** On-chain data reveals a notable shift in holder behavior. Whale selling pressure has dropped to its lowest level since 2025, according to blockchain metrics, while large holders have been increasing their XRP positions. XRPL daily payment activity has climbed above 500,000 transactions, marking one of the strongest levels of network utilization in recent months. The divergence between on-chain strength and institutional flows presents a mixed picture. XRP ETF inflows have declined for three consecutive months, from $131.94 million in May to $59.46 million in June and $12.43 million in July, per available fund data. The Hodler Net Position Change metric, which tracks whether long-term holders are adding or trimming coins, has also turned lower since July 19, easing from about 231 million to roughly 226 million XRP. **Key Levels to Watch** XRP's immediate hurdle sits at $1.15, the 0.618 Fibonacci retracement level. A clean break above that level would put the cup neckline near $1.16 in play, with $1.18 and $1.21 opening up as the next targets. Above those, the analyst-identified levels of $1.23 and $1.65 represent the next major resistance zones before the $3.00 to $3.50 range. On the downside, a sustained move below $1.13 exposes $1.12, then the $1.09 support. A fall below $1.05 would void the cup-and-handle pattern entirely. The $0.85 to $0.88 range remains the ultimate support floor for the macro breakout thesis. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 19:52
Bitcoin beats semiconductor stocks by 25% as Sigel sees path to $100,000
Bitcoin rose 13% from its July low of $57,750 to trade at $65,674 as of 14:30 UTC, outpacing the Philadelphia Stock Exchange Semiconductor Index by roughly 25 percentage points this month. "The relative strength is improving, European fiscal concerns are mounting, and enthusiasm around parts of the AI trade is fading — that's a more constructive setup for Bitcoin," Matthew Sigel, head of digital assets research at VanEck, said in a CNBC interview Thursday. Bitcoin's 30-day options delta skew on Deribit has narrowed to 13% from 19% a week earlier, indicating reduced demand for downside hedges, while perpetual futures funding rates have held at a neutral 8% annualized, according to Laevitas data. Open interest stands at $111 billion with 24-hour trading volumes of $147 billion, Coinglass data shows. The decoupling from tech stocks comes as the Nasdaq-100 fell below 28,800 last week for the first time in five weeks, while the US five-year Treasury yield climbed to 4.33%, pressuring growth stocks. Sigel sees a path for Bitcoin back to $100,000, a level last tested in October 2025 before the asset fell nearly 50% to its current range. **Semiconductor weakness fuels rotation trade** The SOXX has underperformed Bitcoin by roughly 25 percentage points in July as investors rotated out of AI-exposed names amid concerns over excessive valuations in the sector. Shares of memory-chip makers and AI infrastructure plays have declined, with the sell-off accelerating after a string of earnings that failed to justify elevated price multiples. Strategy, the largest corporate holder of Bitcoin, raised $263 million in cash last week through an at-the-money stock offering, bringing its reserves to $3.22 billion, according to company filings. The move eased concerns that the firm might need to sell Bitcoin to meet its $1.76 billion annual dividend obligation to preferred perpetual equity shareholders. **Key levels and the Fed catalyst** Bitcoin faces immediate resistance between $67,000 and $68,000, with a breakout above that zone opening a path toward $70,000 to $72,000 by month-end, according to Maxime Seiler, co-founder and CEO of STS Digital. On the downside, $64,000 serves as near-term support, with $60,000 representing the level "the market cares about," Seiler said. The Federal Reserve's July 28-29 meeting is the next major catalyst, with traders pricing in a potential rate decision that could resolve Bitcoin's current range-bound trading, Seiler added. Julio Moreno, head of research at CryptoQuant, identified $64,000 as support and $72,000 as resistance, noting these levels have been "reliable support and resistance levels during this bear market." Bitcoin's 30-day implied volatility index (BVIV) has risen for five consecutive sessions, a pattern that has historically preceded price declines since the launch of spot ETFs, according to CryptoQuant data. However, the narrowing put-call skew suggests fear is gradually evaporating from the options market. This article is for informational purposes only and does not constitute investment advice.