Bitcoin fell more than 2% over the past day and traded at $61,336.93 at press time, putting the $60K level back in focus. Over the last month it dropped more than 24%, sliding from about $82k in mid-May to roughly $61k at publication. On-chain data now shows growing capitulation signals, with CryptoQuant’s Supply in Loss (7D MA) moving above 50% for the first time since November 2022.

Bitcoin has moved out of the accumulation phase that powered its earlier-year rally and is now in a distribution regime, as investors increasingly sell into strength. The Bitfinex Alpha report links the shift to spot ETF outflows, macro headwinds, and weakening spot demand, with analysts warning that a sustained break below $60,000 could deepen downside pressure.

Capriole Investments founder Charles Edwards says bitcoin treasury firms are adding debt at record levels to finance BTC accumulation, arguing the approach depends on unsustainable "fake yield". He links the dynamic to an October 2025 warning and says the roughly 200 treasury vehicles could amplify selloffs if prices drop. The comments come as Strategy holds about 76% of corporate BTC and, per Cryptoquant, non-Strategy buying fell to a combined 1,000 BTC over 30 days, down 99% from an August 2025 peak.

PiggyBank disclosed that a basis trade using locked LAB tokens led to losses after the hedge broke, and it now expects an approximately 15% drawdown in its USDC vault. The protocol said it deployed about $100,000 (around 2% of assets at the time) and is valuing the locked LAB position at roughly $1.35 million, but it cannot be sold until August 14. PiggyBank has pledged to compensate affected users, without providing amounts or a timetable.

Bitmine purchased $41 million worth of ETH on Wednesday, including a 25,000 ETH buy around 11:22 a.m. ET, as it continues expanding its corporate Ethereum treasury. Over the past three days, the firm has accumulated 125,000 ETH worth about $205 million at current prices, while it has not yet officially confirmed the latest purchases. The company has also reported large unrealized losses on its ether holdings as ETH remains sharply lower in 2026.

Bitcoin fell below $62,500 after failing to hold above $63,200, keeping price action under the 100-hour simple moving average. The decline pushed BTC to a low of $60,746, with traders watching $61,200 and $60,000 as key supports. On the upside, resistance is highlighted near $62,500 and $63,200, where a break could reopen a test of $63,500.

Chainalysis says four exploits tied to smart contracts with unverified source code led to about $37 million in losses over the past six months, including a $26 million January theft from Ethereum-based Truebit. The firm argues attackers can decompile bytecode and use automated tools to identify issues such as overflows or access-control weaknesses, and it urges source-code verification and broader audit and bug-bounty coverage for contracts holding user funds.

Mastercard said in June 2026 that OKX is among the launch partners for Agent Pay for Machines, an initiative meant to let AI agents and automated systems execute payments over the Mastercard network. The program frames a shift toward agent-initiated transactions such as purchases, invoice settlement, and subscription management, while the announcement did not specify supported tokens, regions, or a consumer rollout timeline.