Bitcoin Holds Near $64,700 as Whale Accumulation and Tether Reserve Losses Shape Market
Bitcoin traded around $64,690, up roughly 1.1% in the last 24 hours and remained between $63,800 and $65,100 as the Federal Reserve kept its policy rate at 3.5‑3.75%. A whale moved more than 1,250 BTC—about $80.94 million—from Binance to private wallets, a shift described by analyst Ted Pillows as “Accumulation.”
Glassnode data show Bitcoin’s spot daily transaction volume fell to about 60,000 BTC, the lowest level since 2019, while futures yields have been below the U.S. two‑year Treasury rate, prompting a risk‑off stance among institutional investors. Open interest stays near $47 billion and liquidation pressure has eased.
Tether reported a Q2 net operating profit of $1.5 billion, but its reserve surplus shrank from $8.2 billion to $4.1 billion as Bitcoin assets dropped from $6.6 billion to $5.8 billion and gold holdings fell from $19.8 billion to $18.8 billion. USDT users surpassed 650 million. CEO Paolo Ardoino highlighted continued user‑base growth despite the reserve erosion.
Ethereum marked 11 years of uninterrupted block production, with its staking rate rising from 33.44% to 33.90%. However, stablecoin netflow on Binance plunged 518% weekly, 347% monthly and 728% quarterly, while transaction fees burned rose 48% but remain 54% below the 90‑day average. The Coinbase premium index for ETH fell to –0.12.
Entities: Arkham Intelligence · Binance · Bitcoin · Bitcoin (BTC) · Coinbase · Ethereum · Ethereum (ETH) · Federal Reserve · Paolo Ardoino · Tether (USDT)
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Crypto‑market liquidations in the last 24 hours totalled $205.06 million, affecting more than 76,486 investors; 69.46% of liquidations were short positions, mainly in Ethereum. (Liquidation statistics)
- [○ 1 SOURCE] Bitcoin’s market capitalisation is about $1.8 trillion and the total cryptocurrency market is about $2.294 trillion. (Market capitalisation figures)
- [● 2 SOURCES] Bitcoin traded around $64,690, up about 1.1% in the past 24 hours. (Bitcoin price rise)
- [● 2 SOURCES] Ethereum’s staking rate rose from 33.44% to 33.90%. (existing claim)
- [● 2 SOURCES] Ethereum stablecoin netflow on Binance declined 518% weekly, 347% monthly and 728% quarterly. (existing claim)
- [● 2 SOURCES] Weekly transaction fees burned on the Ethereum network increased 48%, yet remain 54% below the 90‑day average. (Fee burn statistics)
- [● 3 SOURCES] A whale transferred more than 1,250 Bitcoin, valued at about $80.94 million, from Binance to private wallets. (existing claim)
- [● 2 SOURCES] The Coinbase premium index for Ethereum fell to –0.12. (Coinbase premium decline)
- [○ 1 SOURCE] Tether's reserve surplus fell from $8.2 billion to $4.1 billion in Q2 due to declines in Bitcoin and gold asset values. (article 187e6f9d-1bd5-41c9-9a7b-d1e9a1dae6f8)
- [○ 1 SOURCE] Bitcoin spot daily transaction volume fell to about 60,000 BTC, the lowest level since 2019. (article c1e46026-8c05-4903-ab7a-dfb1b21f364d)
- [○ 1 SOURCE] Tether's USDT user count exceeded 650 million. (article 187e6f9d-1bd5-41c9-9a7b-d1e9a1dae6f8)
- [○ 1 SOURCE] Bitcoin futures yields have been below the U.S. two‑year Treasury yield since February, prompting a risk‑off stance. (article c1e46026-8c05-4903-ab7a-dfb1b21f364d)