Bitcoin Reaches New Monthly High
On July 21, Bitcoin rose to $66,400, reaching its highest level in nearly a month. This rise was accompanied by the fifth consecutive trading session of net inflows into US-based BTC spot ETFs. The previous time the leading cryptocurrency traded at these levels was on June 17.
The breakout of local resistance triggered a massive liquidation of short positions. According to CoinGlass, $241.7 million in trades were forcibly closed in the crypto market in one day, $182.5 million of which were shorts.
On July 20, net inflows into US-based spot Bitcoin ETFs reached $226.9 million, the highest since July 6. Over five consecutive trading days, funds attracted approximately $727.3 million, according to SoSoValue data. This marked the longest streak of capital inflows since late April and early May.
Cardano Under New Management
IOG, a key developer of the Cardano (ADA) blockchain, has handed over control of its network node, written in Haskell, to the community. Project founder Charles Hoskinson called this event "the final stage of the Voltaire era." He said that IOG, working with partners, had been consistently preparing the handover since 2024.
The transition to the new governance model is planned to be fully completed in 2027. Going forward, Cardano will be supported by several independent companies developing at least three implementations of the network in Haskell, Rust, and Go.
The handover took place shortly before the activation of the Van Rossem hard fork, which will be launched on the mainnet on the evening of July 18. A week earlier, 77.63% of voters supported the update. The hard fork will move Cardano to protocol version 11 and add new Plutus features that will reduce the costs of executing smart contracts. On this news, ADA rose almost 4% in 24 hours, reaching $0.16.
Large BTC Holders Increase Their Holdings
The Bitcoin market has seen a widening divergence between different investor categories: large holders continue to accumulate coins, while mid-sized wallets are actively reducing their positions. This was noted by a CryptoQuant analyst.
According to on-chain analysis, over the past 60 days, addresses with balances between 1,000 and 10,000 BTC have netted approximately 66,700 BTC—the highest volume since February 17, when the figure briefly exceeded 106,000 BTC. In contrast, wallet holders with 100–1,000 BTC sold approximately 77,800 BTC during the same period.
The expert believes this indicates a redistribution of supply from mid-sized market participants to the largest holders. While such data does not allow for a definitive forecast of future price movements, sustained whale buying amid selling by smaller players could be a positive sign for Bitcoin in the medium term.
Buterin Unveils Anonymous AI-Modified Board
Ethereum co-founder Vitalik Buterin has unveiled a prototype of an anonymous, moderated message board for the Aztec L2 network. The project's source code is available on GitHub.
The project is based on a concept proposed by Buterin back in 2022. To post messages, a user deposits ETH into an Ethereum smart contract and gains access to the Aztec platform. Deposits remain public, but the messages themselves are not linked to the sender's address.
Post frequency depends on the deposit size, and a moderator can hide posts that violate the rules, leaving them accessible through a warning. Automatic content review is performed by a locally running AI model, Qwen3.5-2B, via llama.cpp, without the use of external APIs.
The repository is in the early stages of development. Known issues include a vulnerability in the update_portal() function, which could render the contract inoperable but does not allow funds to be stolen.
Galaxy Digital Takes Measures to Protect Bitcoin from Quantum Threats
Galaxy has launched the Bitcoin Quantum Readiness Initiative, aimed at preparing Bitcoin for potential threats from quantum computers. Up to $5 million will be awarded in grants for developers and researchers.
The initiative also includes a research program and an advisory board comprising experts in quantum computing and post-quantum cryptography. Applications are now open. Funding for projects will be distributed in stages, once agreed-upon results are achieved.
The program's key focus areas include the development of quantum-resistant transactions, the implementation of post-quantum digital signatures in Bitcoin, the creation of migration tools for wallets and custodial services, and security audits for new solutions.
Polymarket Traders Lose Over $37 Million on 2026 World Cup Predictions
Most participants in the Polymarket prediction market suffered losses betting on the World Cup winner. According to on-chain analytics company defioasis.eth, 66.7% of the more than 194,000 addresses analyzed—approximately 130,000 wallets—were in the red.
Only five accounts earned over $1 million. Meanwhile, approximately 114,000 users lost less than $100 (an average of about $10), and 43 addresses lost more than $100,000 each—a total of over $15 million. Approximately a third of participants made a profit, but for most, it was less than $100.
The 2026 World Cup final took place on July 19 in New Jersey, where Spain defeated Argentina 1-0. Before the match, Polymarket estimated the probability of a Spanish victory at 58%, while the probability of an Argentinian victory was 42%. Argentina's defeat was particularly costly for trader gud.hl, who lost his entire $1.23 million deposit after placing 28 bets on the team to win the championship and paying over $30,000 in commissions.
The tournament's biggest losses, however, were related to draw bets. One trader lost $11.6 million in ten days, while another lost around $4.2 million in less than a day in June after two consecutive major losing predictions.
