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Level is a stablecoin protocol powered by restaked dollar tokens like USDT and USDC. Level USD (lvlUSD) is a liquid restaked dollar: a yield-bearing, cross-chain dollar token that's backed 1:1 by restaked stablecoins.
BIT: Bitcoin Shows Resilience at Cycle Bottom Under Dual Negative Pressure, $70,000 Becomes Key Confirmation Level
According to BIT Official Chinese (@BITofficial_CN) analysis, the current crypto market faces dual pressure from the Federal Reserve's hawkish stance and the slowed progress of the CLARITY Act. Federal Reserve Chair Kevin Warsh maintains a hawkish stance; the 2-year US Treasury yield has risen cumulatively by approximately 35 basis points since late January, and the Committee has seen a pattern of 9 votes to maintain interest rates and 3 votes supporting rate hikes. Regarding the CLARITY Act, prediction markets indicate a mere 32% probability of it being signed by the end of 2026, with the legislative window continuing to narrow. Meanwhile, crypto market trading volume has retreated 80% from highs, total market cap has fallen approximately 50%, and USDT and USDC have shown no significant expansion since November 2025, reflecting an overall lack of new USD liquidity in the market. Despite this, Bitcoin remains within the $62,000 to $66,000 range, correcting only about 3% over the past week. It demonstrates stronger resilience compared to most altcoins, reflecting that active position adjustment pressure has been largely released. BIT points out that if Bitcoin subsequently regains $70,000 and drives multiple indicators to turn bullish, it will further confirm that the low point of this cycle has been established.
US 2025 Crypto Scam Losses Estimated at Up to $80.7 Billion
According to Decrypt, a report released by the Consumer Federation of America (CFA) shows that estimated losses from cryptocurrency fraud in the US in 2025 reached as high as $80.7 billion, approximately 7 times the amount actually reported to the FBI ($11.37 billion). Based on 2017 Bureau of Justice Statistics survey data, the CFA extrapolated unreported losses using a 7.1x multiplier. Investment fraud was the largest single category, with estimated losses reaching $61.4 billion, a year-on-year increase of 32%; losses were particularly severe for the group aged 60 and above, with losses from crypto fraud alone reaching $4.4 billion. Currently, US law enforcement agencies have taken multiple actions, including the FBI's "Operation Level Up" which has prevented approximately $500 million in losses, and the Department of Justice has also seized over $25 million in crypto assets involved in fraud.
New York Attorney General: CLARITY Act Could Weaken State-Level Crypto Enforcement
: New York Attorney General Letitia James submitted written testimony to the U.S. Congress, urging stronger regulation of cryptocurrency companies and warning that proposed federal legislation could undermine states' ability to investigate fraud and hold platforms accountable. Letitia James stated that the Digital Asset Market Clarity Act would preempt state-level digital asset market regulation and transfer oversight authority to the U.S. Commodity Futures Trading Commission (CFTC), thereby weakening state and local enforcement. She disclosed that the New York Attorney General’s Office has seen a threefold increase in crypto fraud complaints over the past three years, with total reported losses over the past five years approaching $500 million. She called on crypto platforms to comply with anti-money laundering, know-your-customer (KYC), and cybersecurity requirements, monitor suspicious activity and market manipulation, and be held financially responsible when they fail to protect customers from fraud.
US Senator Releases New Draft of Clarity Act, Adds High-Level Official Cryptocurrency Ethics Clause for the First Time
a US Senator has released a new draft of the Digital Asset Market Clarity Act (Clarity Act), merging two previously advanced versions from the Senate Banking Committee and the Senate Agriculture Committee, and for the first time, includes content related to ethics clauses. The ethics clause in the new draft proposes to prohibit senior government officials from sponsoring or issuing their personal cryptocurrencies. The bill has not yet been fully advanced, and it remains uncertain whether the key provisions will receive bipartisan support.
Baidu Apollo Go Obtains Hong Kong's First Fully Driverless Test License, Trial Operation Launches on July 27
According to official announcements, Baidu Apollo Go has received the Hong Kong Transport Department's first fully driverless test license and will commence trial operations on Airport Island on July 27. This marks the first Level 4 autonomous driving test without safety drivers on public roads in Hong Kong, as well as the first fully driverless trial in the global right-hand drive market. Over the past year and a half, Apollo Go has accumulated over 240,000 kilometers of safe driving across various locations in Hong Kong.
Analysts: Bitcoin at Key Technical Indicator Level, Could Drop Further 30%
Miller Tabak strategist Matt Maley and 22V Research technical strategist John Roque believe Bitcoin is at a key technical indicator level.Matt Maley stated that if Bitcoin declines further from its current level of around $60,000, it could amplify negative investor sentiment. Although Wall Street firms continue to invest in digital assets, retail investors, who have historically been the main force driving cryptocurrency rallies, have shifted their focus to high-growth AI and tech stocks. Recent significant outflows from Bitcoin ETFs indicate waning investor enthusiasm. Cryptocurrencies are also showing signs of decoupling from the stock market.John Roque noted that Bitcoin is retesting its first downside target of $60,000. If it breaks below this level, it implies a potential drop to $400,000. Matt Maley added that Congress might pass a crypto structure bill with clearer rules, which would reduce uncertainty and encourage institutional participation in the long run. Furthermore, Bitcoin ETFs experienced their largest monthly outflow since 2024 recently. (CNBC)
Analyst: Bitcoin Hits Over One-Month High, $68,000 Becomes Key Resistance Level
According to The Block, Bitcoin rose above $65,800 on July 22, hitting a new high in over a month, with a monthly gain of approximately 2%. Spot Bitcoin ETFs recorded net inflows for the sixth consecutive day, with single-day net inflows of $203 million on Tuesday. Spot Ethereum ETFs recorded net inflows of $37.5 million on the same day, marking three consecutive days of positive inflows. Analysts have identified the next key resistance level near $68,000 — this price level represents the convergence zone of the short-term holder cost basis and the Q2 opening price, where a large number of trapped buyers will break even, and the first touch is expected to trigger massive selling pressure.
Bankless Founder Responds to "Selling ETH at the Bottom": Current Price Hasn't Reached My Liquidation Level Yet
Odaily In May of this year, Bankless founder David Hoffman publicly announced on the X platform that he had liquidated all of his ETH holdings.Due to ETH's recent strong price performance, some community users posted remarks teasing David for "selling ETH at the exact bottom." David Hoffman responded by saying: "Stop saying that. The current price of ETH is lower than my liquidation price."
Hyperliquid Top Trader's Bitcoin Long Position Hits Glassnode Record, Surpassing Level from Last Rally to $83,000
on-chain analytics firm Glassnode stated that top traders on decentralized derivatives exchange Hyperliquid are heavily long on Bitcoin, with their sustained long position reaching the highest level since the platform's records began, surpassing the level seen during Bitcoin's previous rally to approximately $83,000. Glassnode noted that this position indicates strong speculative demand at the current price level. Hyperliquid is a decentralized derivatives exchange where traders can trade leveraged perpetual contracts with no expiry date on-chain. A Bitcoin whale on Hyperliquid has recently pushed net long positions to a year-to-date high. Glassnode's weekly report shows that despite Bitcoin's price decline in June, accumulation has continued; Bitcoin has recently reclaimed the $65,000 level.
Bloomberg Analyst: June ETF Market Records Crazy-Level Data, Fund Inflows and New Products Both Off the Charts
Bloomberg senior ETF analyst Eric Balchunas posted that the June ETF market showed "JUNE-SANITY (June Madness)" level performance, with multiple indicators approaching or breaking historical records. Data shows that net ETF inflows for the month reached $191 billion, marking the second-highest single-month level on record, with average daily inflows of approximately $9 billion across about 2,700 different funds.
Analysts: Bitcoin at Key Technical Indicator Level, Could Drop Further 30%
Miller Tabak strategist Matt Maley and 22V Research technical strategist John Roque believe Bitcoin is at a key technical indicator level.Matt Maley stated that if Bitcoin declines further from its current level of around $60,000, it could amplify negative investor sentiment. Although Wall Street firms continue to invest in digital assets, retail investors, who have historically been the main force driving cryptocurrency rallies, have shifted their focus to high-growth AI and tech stocks. Recent significant outflows from Bitcoin ETFs indicate waning investor enthusiasm. Cryptocurrencies are also showing signs of decoupling from the stock market.John Roque noted that Bitcoin is retesting its first downside target of $60,000. If it breaks below this level, it implies a potential drop to $400,000. Matt Maley added that Congress might pass a crypto structure bill with clearer rules, which would reduce uncertainty and encourage institutional participation in the long run. Furthermore, Bitcoin ETFs experienced their largest monthly outflow since 2024 recently. (CNBC)
Analyst: Bitcoin May Enter Bottom Zone, 200-Week MA Becomes Key Macro Divergence Level
Analyst Ai pointed out that over the past decade, Bitcoin's 200-week simple moving average (200-week SMA) has been regarded as a core indicator for judging "cycle bottoms." Historically, every time the price touched or fell below this moving average, it was accompanied by a long-term macro accumulation window, followed by a strong upward cycle. Reviewing historical performance:August 2015: Touched the 200-week MA and then started a bull run, with cumulative gains exceeding 8,500%December 2018: Bounced approximately 267% after testing this moving averageMarch 2020: Confirmed support after bottoming out due to the pandemic liquidity shock, followed by a rise of 1,125%June 2022: Fell below for the first time and remained below the moving average for a long period until reclaiming it in December, which triggered a rally of approximately 680%In the current market, the 200-week MA is located around $63,500, while Bitcoin's current price is trading below $60,000. Analysts believe this has already entered a typical long-term value accumulation zone.At the same time, analysts also caution that potential downside risks remain. In the short term, a pullback to $54,000 is possible, and in extreme cases, testing the $40,000 range cannot be ruled out. However, overall, adopting a Dollar-Cost Averaging (DCA) strategy for gradual position building is more suitable.Regarding key observation points, the $63,500 level is seen as the "bull-bear dividing line." If Bitcoin can firmly reclaim and confirm the 200-week MA as macro support on a higher time frame, historical patterns suggest it could signal that the early stages of a new bull cycle have already begun.
ZachXBT Calls on Telegram Users to Support Channel Upgrade: Seeks to Disable Ads Due to Frequent Scam Advertisements
Odaily news "On-chain detective" ZachXBT posted in his personal channel, stating that Telegram continues to allow scam advertisements to be displayed to subscribers in his channel, impacting user experience and posing potential security risks.ZachXBT stated that if users are Telegram Premium members and wish to support upgrading his channel, they can help it reach the required level by using the channel's Boost function, thereby unlocking the ability to disable ads. Currently, the channel needs to reach Level 50 to enable the ad-disabling option.ZachXBT has long focused on scams, hacker attacks, and on-chain fund tracking within the crypto industry, and has repeatedly exposed incidents involving phishing attacks, fake projects, and fund theft.This time, he raised concerns about Telegram's advertising mechanism, arguing that the platform allowing scam advertisements to appear in crypto community channels may increase the risk of users encountering malicious links and fraudulent activities.
Zcash Foundation Releases Zebra 4.5.1 Emergency Update: Fixes Critical Consensus-Level Security Vulnerability
Odaily news: The Zcash Foundation has announced the release of Zebra 4.5.1 version update to fix a consensus-critical security vulnerability and strongly recommends that all node operators upgrade immediately. The vulnerability, identified as GHSA-2prc-cj5x-4443, involves a sigops (signature operation count) counting error in P2SH transactions, which could lead to potential consensus fork risks. This fix corrects an incomplete patch in the previously released 4.5.0 version, which was just released yesterday.The Zcash development team stated that the issue stems from discrepancies in sigop counting logic between different implementations, which could cause nodes to produce different results when verifying transactions, thereby affecting consensus consistency on the chain. The fix resolves this by reverting and adjusting the Rust implementation logic to ensure alignment with the expected protocol behavior.The Zcash Foundation emphasized that there is currently no workaround for this issue, and upgrading to 4.5.1 is the only method to ensure nodes remain on the correct chain and avoid potential fork risks.
Zcash Foundation: Zebra 4.4.0 Released—Multiple Consensus-Level Security Vulnerabilities Fixed; Nodes Urged to Upgrade Immediately
The Zcash Foundation officially announced the release of Zebra 4.4.0, which addresses multiple critical consensus-level security vulnerabilities. All node operators are strongly advised to upgrade immediately. The vulnerabilities include a denial-of-service (DoS) flaw that could permanently halt the discovery of new blocks; a signature operation (sigop) counting error in block validation that may cause consensus divergence; abnormal handling of transparent transaction signature hashes; and a memory allocation amplification attack risk. The Zcash Foundation stated that some of these vulnerabilities could cause Zebra nodes to accept blocks rejected by zcashd, potentially triggering a chain fork. Without timely upgrades, nodes risk interruption of block discovery, consensus forks, and amplified resource consumption. No alternative mitigations are currently available.
BIT: Bitcoin Shows Resilience at Cycle Bottom Under Dual Negative Pressure, $70,000 Becomes Key Confirmation Level
According to BIT Official Chinese (@BITofficial_CN) analysis, the current crypto market faces dual pressure from the Federal Reserve's hawkish stance and the slowed progress of the CLARITY Act. Federal Reserve Chair Kevin Warsh maintains a hawkish stance; the 2-year US Treasury yield has risen cumulatively by approximately 35 basis points since late January, and the Committee has seen a pattern of 9 votes to maintain interest rates and 3 votes supporting rate hikes. Regarding the CLARITY Act, prediction markets indicate a mere 32% probability of it being signed by the end of 2026, with the legislative window continuing to narrow. Meanwhile, crypto market trading volume has retreated 80% from highs, total market cap has fallen approximately 50%, and USDT and USDC have shown no significant expansion since November 2025, reflecting an overall lack of new USD liquidity in the market. Despite this, Bitcoin remains within the $62,000 to $66,000 range, correcting only about 3% over the past week. It demonstrates stronger resilience compared to most altcoins, reflecting that active position adjustment pressure has been largely released. BIT points out that if Bitcoin subsequently regains $70,000 and drives multiple indicators to turn bullish, it will further confirm that the low point of this cycle has been established.
US 2025 Crypto Scam Losses Estimated at Up to $80.7 Billion
According to Decrypt, a report released by the Consumer Federation of America (CFA) shows that estimated losses from cryptocurrency fraud in the US in 2025 reached as high as $80.7 billion, approximately 7 times the amount actually reported to the FBI ($11.37 billion). Based on 2017 Bureau of Justice Statistics survey data, the CFA extrapolated unreported losses using a 7.1x multiplier. Investment fraud was the largest single category, with estimated losses reaching $61.4 billion, a year-on-year increase of 32%; losses were particularly severe for the group aged 60 and above, with losses from crypto fraud alone reaching $4.4 billion. Currently, US law enforcement agencies have taken multiple actions, including the FBI's "Operation Level Up" which has prevented approximately $500 million in losses, and the Department of Justice has also seized over $25 million in crypto assets involved in fraud.
Perplexity CEO: GLM 700B Parameter Model Performance Close to Opus Level
Perplexity CEO Aravind Srinivas tweeted that GLM is a severely underrated model, demonstrating performance close to Opus-level at the 700B parameter scale with extremely high operational efficiency. Previously, Moonshot AI just released the open-source model Kimi K3, and industry attention on the GLM series models under Zhipu AI is rising.
US Senator Releases New Draft of Clarity Act, Adds High-Level Official Cryptocurrency Ethics Clause for the First Time
a US Senator has released a new draft of the Digital Asset Market Clarity Act (Clarity Act), merging two previously advanced versions from the Senate Banking Committee and the Senate Agriculture Committee, and for the first time, includes content related to ethics clauses. The ethics clause in the new draft proposes to prohibit senior government officials from sponsoring or issuing their personal cryptocurrencies. The bill has not yet been fully advanced, and it remains uncertain whether the key provisions will receive bipartisan support.
ZachXBT Calls on Telegram Users to Support Channel Upgrade: Seeks to Disable Ads Due to Frequent Scam Advertisements
Odaily news "On-chain detective" ZachXBT posted in his personal channel, stating that Telegram continues to allow scam advertisements to be displayed to subscribers in his channel, impacting user experience and posing potential security risks.ZachXBT stated that if users are Telegram Premium members and wish to support upgrading his channel, they can help it reach the required level by using the channel's Boost function, thereby unlocking the ability to disable ads. Currently, the channel needs to reach Level 50 to enable the ad-disabling option.ZachXBT has long focused on scams, hacker attacks, and on-chain fund tracking within the crypto industry, and has repeatedly exposed incidents involving phishing attacks, fake projects, and fund theft.This time, he raised concerns about Telegram's advertising mechanism, arguing that the platform allowing scam advertisements to appear in crypto community channels may increase the risk of users encountering malicious links and fraudulent activities.
Strategy and InsuranceMarket.ae Enter Strategic Partnership to Advance Enterprise-Level Artificial Intelligence and Data Applications
According to official announcements, Strategy announced that the company has entered into a strategic partnership with InsuranceMarket.ae to support the latter in advancing its initiatives related to artificial intelligence and data-driven decision-making.
Related news
BIT: Bitcoin Shows Resilience at Cycle Bottom Under Dual Negative Pressure, $70,000 Becomes Key Confirmation Level
According to BIT Official Chinese (@BITofficial_CN) analysis, the current crypto market faces dual pressure from the Federal Reserve's hawkish stance and the slowed progress of the CLARITY Act. Federal Reserve Chair Kevin Warsh maintains a hawkish stance; the 2-year US Treasury yield has risen cumulatively by approximately 35 basis points since late January, and the Committee has seen a pattern of 9 votes to maintain interest rates and 3 votes supporting rate hikes. Regarding the CLARITY Act, prediction markets indicate a mere 32% probability of it being signed by the end of 2026, with the legislative window continuing to narrow. Meanwhile, crypto market trading volume has retreated 80% from highs, total market cap has fallen approximately 50%, and USDT and USDC have shown no significant expansion since November 2025, reflecting an overall lack of new USD liquidity in the market. Despite this, Bitcoin remains within the $62,000 to $66,000 range, correcting only about 3% over the past week. It demonstrates stronger resilience compared to most altcoins, reflecting that active position adjustment pressure has been largely released. BIT points out that if Bitcoin subsequently regains $70,000 and drives multiple indicators to turn bullish, it will further confirm that the low point of this cycle has been established.
US 2025 Crypto Scam Losses Estimated at Up to $80.7 Billion
According to Decrypt, a report released by the Consumer Federation of America (CFA) shows that estimated losses from cryptocurrency fraud in the US in 2025 reached as high as $80.7 billion, approximately 7 times the amount actually reported to the FBI ($11.37 billion). Based on 2017 Bureau of Justice Statistics survey data, the CFA extrapolated unreported losses using a 7.1x multiplier. Investment fraud was the largest single category, with estimated losses reaching $61.4 billion, a year-on-year increase of 32%; losses were particularly severe for the group aged 60 and above, with losses from crypto fraud alone reaching $4.4 billion. Currently, US law enforcement agencies have taken multiple actions, including the FBI's "Operation Level Up" which has prevented approximately $500 million in losses, and the Department of Justice has also seized over $25 million in crypto assets involved in fraud.
Perplexity CEO: GLM 700B Parameter Model Performance Close to Opus Level
Perplexity CEO Aravind Srinivas tweeted that GLM is a severely underrated model, demonstrating performance close to Opus-level at the 700B parameter scale with extremely high operational efficiency. Previously, Moonshot AI just released the open-source model Kimi K3, and industry attention on the GLM series models under Zhipu AI is rising.
New York Attorney General: CLARITY Act Could Weaken State-Level Crypto Enforcement
: New York Attorney General Letitia James submitted written testimony to the U.S. Congress, urging stronger regulation of cryptocurrency companies and warning that proposed federal legislation could undermine states' ability to investigate fraud and hold platforms accountable. Letitia James stated that the Digital Asset Market Clarity Act would preempt state-level digital asset market regulation and transfer oversight authority to the U.S. Commodity Futures Trading Commission (CFTC), thereby weakening state and local enforcement. She disclosed that the New York Attorney General’s Office has seen a threefold increase in crypto fraud complaints over the past three years, with total reported losses over the past five years approaching $500 million. She called on crypto platforms to comply with anti-money laundering, know-your-customer (KYC), and cybersecurity requirements, monitor suspicious activity and market manipulation, and be held financially responsible when they fail to protect customers from fraud.
US Senator Releases New Draft of Clarity Act, Adds High-Level Official Cryptocurrency Ethics Clause for the First Time
a US Senator has released a new draft of the Digital Asset Market Clarity Act (Clarity Act), merging two previously advanced versions from the Senate Banking Committee and the Senate Agriculture Committee, and for the first time, includes content related to ethics clauses. The ethics clause in the new draft proposes to prohibit senior government officials from sponsoring or issuing their personal cryptocurrencies. The bill has not yet been fully advanced, and it remains uncertain whether the key provisions will receive bipartisan support.
ZachXBT Calls on Telegram Users to Support Channel Upgrade: Seeks to Disable Ads Due to Frequent Scam Advertisements
Odaily news "On-chain detective" ZachXBT posted in his personal channel, stating that Telegram continues to allow scam advertisements to be displayed to subscribers in his channel, impacting user experience and posing potential security risks.ZachXBT stated that if users are Telegram Premium members and wish to support upgrading his channel, they can help it reach the required level by using the channel's Boost function, thereby unlocking the ability to disable ads. Currently, the channel needs to reach Level 50 to enable the ad-disabling option.ZachXBT has long focused on scams, hacker attacks, and on-chain fund tracking within the crypto industry, and has repeatedly exposed incidents involving phishing attacks, fake projects, and fund theft.This time, he raised concerns about Telegram's advertising mechanism, arguing that the platform allowing scam advertisements to appear in crypto community channels may increase the risk of users encountering malicious links and fraudulent activities.