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As news of the US CPI whisperings fluttered about, igniting the flames of anticipation, our friend Bitcoin found itself ensnared in the grip of overzealous buyers. The S&P 500 sputtered, a woeful fall of 0.4% caught in its clutches, while the Nasdaq, clad in modernity, shrugged it off and marched forth. Perhaps the market might pause to breathe, if the forthcoming PPI didn’t add more fuel to this fiery discourse. (Because who doesn’t love a good market melodrama?)

On Monday, in a move that can only be described as the *ultimate* political chess game, the House of Representatives Committee on Rules voted decisively against a proposed amendment to the “Guiding and Establishing National Innovation for US Stablecoins” (GENIUS) Act. This amendment was not just about stablecoins—oh no, it was about Epstein. Yes, the very same Epstein who managed to escape the attention of many (except, of course, those with a deep interest in international scandals).

This transaction could well represent a rather substantial institutional wager on Bitcoin, resembling the kind of gamble one might find in a particularly daring round of bridge at the Drones Club. It follows Cantor’s recent forays into the crypto sphere, including some rather cheeky financing arrangements with Maple Finance and FalconX. If my calculations are correct, Cantor Equity Partners raised a cool $200 million in January—quite the tidy sum for much of the civilized world—and now seeks to cement itself in the ever-changing landscape of digital assets with this dashing acquisition.

On July 16, you noticed something fishy when your assets started moving like they were auditioning for Riverdance. Turns out, it was a third-party attack targeting your hot wallet. Yikes!

A closed-door SEC meeting is reportedly scheduled for July, and many in the XRP community believe it could close the final chapter of the high-profile case. If the SEC chooses to drop its appeal, and Ripple follows by withdrawing its own, the district court’s ruling in Ripple’s favor would go into full effect, bringing the case to a close.

At present, the estimable BlackRock manages the lion’s share of Circle’s stablecoin reserves, a situation that leaves much to be desired. This arrangement exposes the stablecoin users to risks without a modicum of safety, rendering the company vulnerable and subject to the whims of legal uncertainties. Without a robust, trustworthy structure, the company risks a token collapse and a scaling back of its adoption rate. Thus, Circle is making a grand gesture to fortify its USDC infrastructure. 🛡️🔥

Key Support levels: $2.6

According to the astute observer Kripto Mevsimi, the metrics reveal a curious story: the Coin Days Destroyed (CDD) has soared to an impressive 28 million, as if through divine providence, the older Bitcoins, once lying in the quietude of dormancy, suddenly leap back into action. What sorcery is this? 😲

Market sentiment around Pi Coin has been weak, with the Relative Strength Index (RSI) stuck deep in bearish territory. This means that sellers are firmly in control, and there’s no sign of any reversal anytime soon. The risk of continued losses is real, my friends.

Surprise, surprise! Bitcoin [BTC] could still be revving its engines like a teenager with a new car before it decides to slam on the brakes. Who said crypto wasn’t dramatic? 😏