Bitcoin must clear $65,000 before Friday, or jobs data could turn $62,000 into a trapdoor to $60,000

Deribit maintains its dominant position in the crypto options market as Bybit records record-breaking ETH options volumes, signaling a significant shift in cryptocurrency market dynamics. Traders are now paying closer attention to platform execution quality and settlement preferences as competition heats up. This fierce competition among crypto options exchanges reflects the market's maturation and growing trader sophistication. With surging ETH volumes, Bybit demonstrates its increasing appeal to investors, while Deribit, the pioneer in the space, continues to defend its position through superior liquidity and technology.

Block's Bitcoin Engineering and Security team and independent Bitcoin Core developers have traced the recent batch of Coinkite Coldcard wallet losses to a specific firmware defect that exposed a hidden weakness in Bitcoin self-custody before any user touched a seed phrase. The bug diverted the device's random-number generation from its STM32 hardware source to MicroPython's software implementation, compromising the fundamental security of the wallet. This incident serves as a stark reminder that the 'not your keys, not your coins' mantra can be meaningless when users blindly trust a single device to generate their private keys. The Coldcard crisis highlights how even hardware wallets can be compromised through software vulnerabilities, undermining the very foundation of Bitcoin self-custody. As the crypto industry matures, this event underscores the critical importance of multi-layered security approaches and the dangers of over-reliance on any single component in the security stack.

Five individuals have been convicted of imprisoning and torturing crypto millionaires in London in a shocking case that police successfully prosecuted without either victim testifying. Two of the convicted were also found guilty of conspiracy to blackmail, cementing the case against the group that held the victims captive. The case involved a sophisticated kidnapping and extortion scheme specifically targeting cryptocurrency investors, highlighting the growing risks associated with digital wealth. The conviction represents a significant victory for law enforcement in combating cyber and financial crimes, while serving as a warning to the crypto community about the need for robust security measures.

The Hashdex DEFI, the first U.S. spot Bitcoin ETF, is shutting down as dwindling inflows signal a shift in investor sentiment. With only $14.7 million under management compared to BlackRock's IBIT commanding $47.08 billion, the once-promising product failed to gain traction in the competitive crypto ETF landscape. This closure reflects a broader trend in the market as investors increasingly chase artificial intelligence returns, diverting capital from digital assets. The stark contrast between the smallest Bitcoin ETF and BlackRock's massive offering highlights the consolidation occurring in the crypto ETF space, potentially setting a precedent for other struggling products in the evolving digital asset ecosystem.

Strategy's variable-rate preferred stock, STRC, has closed above $90 for the first time in seven weeks, extending its recovery from a June selloff that raised concerns about the Bitcoin treasury company's financial resilience. STRC closed at $92.32 on Monday, up 3.2% from Friday's close, marking a nearly 24% recovery from its June 26 closing low of $74.57. This impressive rebound is driven by the company's strategy of building its cash reserves and repurchasing STRC shares, demonstrating confidence in its financial position. The positive movement of STRC comes at a critical time for the cryptocurrency market as investors closely monitor the financial health of Bitcoin treasury companies. The STRC recovery may indicate growing optimism in the cryptocurrency sector and the company's treasury management strategy.

RBC Capital has reportedly initiated coverage of SkyWater Technology with a striking $200 price target, but the situation is far more complex than it appears. Investors must focus on IonQ's strategy post-acquisition, as SkyWater's independent trading and valuation metrics are now obsolete.

This fundamental shift in the company structure raises critical questions about SkyWater's future in the quantum computing and cryptocurrency markets. The acquisition by IonQ represents a game-changing move that could completely redefine the intrinsic value of the company, making previous analyses irrelevant and requiring a new assessment based on the combined potential of both entities.