BTC falls below $64,000, down 0.30% on the day

2026-07-13 by admin

PANews July 13 news, OKX market data shows BTC just broke below $64,000, now trading at $63,985.20 per coin, down 0.30% intraday.

According to Shenchao TechFlow news, July 17, official updates indicate that Trasia Labs, a liquidity provider focusing on Asian stock Perps, announced today that it has raised $35 million, including a $1.75 million seed round led by Multicoin Capital. Funds will be used for the launch of web and mobile applications, user growth, and the initial rollout of the HIP-3 market focusing on Asian securities assets. The Trasia web trading interface has officially launched, initially supporting Chinese and English, with the mobile app expected to be released this summer.Trasia Labs is the development team behind Trasia, an Asia-first, non-custodial trading platform built on Hyperliquid. The platform will initially offer Hyperliquid's HIP-3 native market and plans to launch its own HIP-3 markets later this year, introducing cash-settled reference price contracts for Asian listed assets.

PANews, July 17 - According to The Block, JPMorgan analysts said that Strategy's recently strengthened cash reserves and positive inflows into Bitcoin futures are "encouraging signs" for Bitcoin's outlook, despite still volatile spot Bitcoin ETF flows. Strategy's dollar reserves increased from $2.55 billion to $3 billion, covering approximately 20 months of preferred stock dividends. JPMorgan previously stated that if Strategy could rebuild dollar reserves sufficient to cover two to three years of dividends, it could alleviate market concerns about a potential forced sale of Bitcoin in the future. Regarding ETFs, spot Bitcoin ETF flows have been volatile in recent weeks, turning from inflows last week to outflows this week. In contrast, flows into leveraged ETFs related to Strategy have remained stable and consistently positive over the past seven weeks. Analysts believe this buying is primarily from retail investors, potentially supporting Strategy's stock price and preventing its common stock from falling below the net asset value of its Bitcoin holdings. Analysts noted that despite outflows from spot ETFs this week, Bitcoin futures still recorded positive inflows, a phenomenon they find encouraging.

PANews reported on July 17, according to The Block, that the Ethereum scaling project MegaETH has announced the termination of its flagship incubation program, Mega Mafia, which ran for two years over two cohorts. Core team member Shuyao Kong stated that while the program successfully incubated around 20 teams with total cumulative funding of approximately $80 million, "most of the successful applications are no longer built on MegaETH" — flagship project GTE has decided to build its own chain, Noise chose to launch on Base, HelloTrade shifted to Monad, Avon and Valhalla have shut down, and Cap has adopted a multi-chain strategy. MegaETH operated under a model of taking no equity stakes and not participating in governance, but Kong acknowledged that this approach did not secure long-term project retention. Moving forward, MegaETH will pivot to supporting "first-party applications," directly targeting end users.

Shenzhen TechFlow News, July 16th, according to CoinDesk, Morgan Stanley Global Investment Office Managing Director Denny Galindo wrote an analysis that as the crypto market expands, although Solana has higher volatility than Bitcoin, it has historically provided better portfolio diversification than Ethereum.Data shows that since early 2026, ETH and SOL have had about 35% and 44% higher volatility than Bitcoin respectively; over the past four years, the correlation between Bitcoin and ETH is 0.78, and with SOL it is 0.72. SOL's correlation with the S&P 500 index is also slightly lower than Bitcoin and ETH. If historical correlations are indicative, SOL may serve as a superior diversification choice for portfolio allocation.