Bitcoin -50%, Record ETF Exits & MiCA Wipes 80% of EU Platforms

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Bitcoin -50%, Record ETF Exits & MiCA Wipes 80% of EU Platforms

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(00:00:00) Bitcoin -50%, Record ETF Exits & MiCA Wipes 80% of EU Platforms
(00:00:49) Spot ETF Outflows Hit Record
(00:01:31) SBI Pool Closure and Hashrate Risk
(00:02:25) MiCA Wipes Out European Platforms
(00:03:11) India's Double Rejection on Crypto
(00:03:52) Brazil Tightens Capital Rules
(00:04:21) Solana Outperformance and Key Watchpoints

Bitcoin is trading near $60,000 — down 50% from its all-time high — even as U.S. regulatory tailwinds stack up and the Trump administration logs crypto win after win. The disconnect is the story of the week: macro forces, rate-path expectations, and institutional demand collapse are doing more damage than any policy advance can offset.

On the institutional side, June posted record spot ETF outflows of $4.06 billion, reversing all year-to-date inflows and pushing ETF products negative for the year. Yet large holders accumulated 270,000 Bitcoin over the same two-week window — a divergence that has historically marked near-cycle lows.

In mining, SBI Crypto is closing its pool on July 31st, displacing roughly 2.2% of total Bitcoin hashrate following an alleged $21 million Lazarus Group breach. Where that hashrate migrates — toward centralised pools or decentralisation-focused Stratum V2 pools — is a meaningful signal for Bitcoin's network structure.

Regulatory developments dominated the global picture. Europe's MiCA transitional deadline left just 244 authorised platforms standing from a pre-MiCA base of over 3,000. India's Reserve Bank formally rejected granting crypto legal status before parliament — a striking statement in a country with 119 million crypto users. Brazil finalised tighter capital and reporting requirements, effective January 2027, continuing the global regulatory convergence trend.

One bright spot: Solana is up roughly 15% since early June, with tokenised real-world asset transfers on-chain surging 120% to $8.53 billion. Whether that signals genuine sectoral rotation or a temporary divergence remains the open question heading into the second half of the year.

This episode includes AI-generated content.

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