Crypto News Today: Bitcoin Holds $63K, BlackRock Leads ETF Buying Spree

Crypto news today is mostly positive after a few solid days in terms of price action. Bitcoin price still holds above $63,000 as of July 7. Ethereum bulls and bears are fighting over the $1,800 level, with ETH trading near $1,825 at press time.

After a harsh June and an overall harsh bear market, the market is showing signs of life. The recovery is not explosive, but it is steady.

Let us dig into the main crypto news today.

Crypto News Today: ETF Inflows Explode

Crypto news today starts with the ETF flows. On July 6, U.S. spot crypto ETFs recorded a total net inflow of roughly $304.15 million.

• Bitcoin ETFs: +4,173 BTC (+$265.69M)
• Ethereum ETFs: +11,520 ETH (+$20.66M)
• Solana ETFs: +102K SOL (+$8.36M)
• HYPE ETFs: +117.94K HYPE (+$8.43M)
• HBAR ETFs: +13.61M HBAR (+$1.01M)

XRP, LINK, DOGE, BNB, LTC, AVAX, and DOT flows were zero.

• BlackRock led the buying: 3,290 BTC ($209.40M) and 12,980 ETH ($23.29M).
• ARK 21Shares added 517 BTC ($32.98M).
• Fidelity added 152 BTC ($9.71M).
• Grayscale sold 35 BTC ($2.2M).
• VanEck sold 1,460 ETH ($2.62M).

Fact: U.S. spot Bitcoin ETFs bought nearly 9 days of mined Bitcoin supply in a single day. That is a big demand signal.

Read also: Claude AI Predicts the Price of Bitcoin by the End of August

US Strategic Bitcoin Reserve Being Formally Structured

The White House just confirmed that the US Strategic Bitcoin Reserve is being formally structured right now.

The U.S. already holds 328,372 Bitcoin – worth roughly $25 billion – making it the largest known government holder of Bitcoin in the world. That is 1.56% of the entire Bitcoin supply currently in circulation.

Not a single coin was purchased. Every Bitcoin in the reserve was seized from criminals through civil and criminal asset forfeitures.

The government has committed to never selling any of it.

A separate Digital Asset Stockpile will hold everything else seized, including Ethereum, XRP, and other altcoins.

The word “structure” matters here. The reserve exists on paper, but the legal and operational framework to formally manage it is still being built. That is what the White House is now working on.

Congress is separately working on legislation called the American Reserves Modernization Act that would direct the Treasury to buy 1 million Bitcoin over five years.

Bernstein: Bitcoin’s 54% Decline Is Smaller Than Previous Cycles

Bernstein analyst Gautam Chhugani said Bitcoin’s roughly 54% decline from its October 2025 high of about $125,000 remains far smaller than the 75% to 90% drawdowns often seen near the end of previous cycles.

Bernstein, a major Wall Street research and brokerage firm, maintained its $150,000 year‑end Bitcoin target and said it will keep watching for “signs of life” in capital flows.

The analyst noted that while the current correction is painful, it is not as severe as past bear markets. That means the cycle may not be as broken as some fear.

BonkDAO Hit by Governance Attack – $20 Million Drained

BonkDAO, the governance body behind BONK, one of Solana’s largest memecoin ecosystems, said it was hit by a malicious governance proposal that led to about $20 million worth of BONK being drained from its treasury.

BonkDAO said it has identified exchange accounts used by the attacker to buy BONK before the proposal and is working with exchanges, bridges, and the Solana Foundation.

This is a reminder that even meme coins are not immune to sophisticated attacks. Governance security matters.

Asian Markets Bloodbath: $700 Billion Wiped Out

Over $700 billion has been wiped out from Asian stock markets in just a few hours amid a sharp sell‑off in chip and tech stocks.

• South Korea’s KOSPI is down -7.3%, wiping out ₩445.3 trillion ($300 billion)
• Japan’s NIKKEI is down -1.9%, wiping out over ¥28.6 trillion ($174 billion)
• Taiwan’s stock market is down -3.5%, wiping out over NT$4.04 trillion ($139 billion)
• China’s SSE is down -1.1%, wiping out over ¥715 billion ($100 billion)

The global risk‑off move is real. But crypto is holding up relatively well. Bitcoin above $63,000 despite the Asian bloodbath is a positive sign.

Our Take

Crypto news today is a mix of positive and negative, but the positives are starting to outweigh the negatives.

ETF inflows are strong. BlackRock is buying aggressively. The US Strategic Bitcoin Reserve is being structured. Bernstein sees $150,000 Bitcoin by year‑end.

The Asian markets are bleeding, but crypto is holding. That is a sign of resilience.

The BonkDAO hack is a reminder that the ecosystem still has vulnerabilities. But the overall direction is improving.

Crypto news indicates that the worst of the bear market may be behind us. The recovery is slow, but it is real.

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