Gate Daily: Bitcoin retraces to 117,000, depeg from Ethereum; Strategy hints at possible accumulation this week; Trump signs the GENIUS Act, establishing history.

Bitcoin (BTC) has retraced from last week's high, currently reporting around 117,110 USD in the Asian early session today (21), with a noticeable decline in bullish sentiment. U.S. President Trump approved the GENIUS Act to boost demand for Crypto Assets, and Michael Saylor has once again released Strategy Bitcoin Holdings tracking information, which may reveal accumulation data this week. Four years ago, whales built positions and dumped WBTC, while several whales have started to accumulate Ethereum (ETH).

Today's Outlook

1. The one-year loan market quoted interest rate in China was previously 3.00%.

2. Japan Maritime Day holiday market closure

Macroeconomic Events & Cryptocurrency Hotspots

1. Strategy founder Michael Saylor announced a Bitcoin purchase on Sunday, hinting at an upcoming Bitcoin buy. He usually releases the chart the day before the company makes its purchases. "Stay humble, stack Sats," Saylor wrote on X, while revealing the upcoming BTC purchase plan to his fans on social media. According to SaylorTracker data, the company's Bitcoin investments have increased by about 66.5%, with unrealized gains exceeding $28.5 billion.

2. According to the UK Daily Telegraph, UK Chancellor of the Exchequer Rachel Reeves is considering a large-scale sale of seized Bitcoin to help fill the "black hole" in the UK's public finances. It is estimated that the seized crypto assets are worth over £5 billion ($6.7 billion). Against the backdrop of rising borrowing costs and sluggish economic growth, the UK government is struggling to balance its budget, and this move could significantly boost the government's fiscal revenue.

3. President Trump approved stablecoin regulation, pushing crypto assets into the mainstream. He signed the GENIUS Act last Friday, establishing a regulatory framework for stablecoins, which is expected to make crypto assets more mainstream.

Market Trend

1. $BTC has retraced from its peak, currently reported at around 117,110 USD, with $40.82 million liquidated in the past 24 hours, mainly from long positions;

2. The US stock market closed last Friday, with the Dow Jones Industrial Average initially down 0.32%, the S&P 500 index slightly down, and the Nasdaq slightly up 0.05%, with crypto concept stocks showing mixed performance;

3. In the Gate BTC/USDT liquidation map, based on the current 117,321.90 USDT, if it drops to around 116,722 USD, the total liquidation amount for long positions exceeds 114 million USD; if it rises to around 118,997 USD, the total liquidation amount for short positions exceeds 129 million USD. The liquidation amount for shorts is significantly higher than for longs, and it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidations during market fluctuations.

(Source: Gate)

4. In the past 24 hours, BTC spot inflow was $1.52 billion, outflow was $1.55 billion, resulting in a net outflow of $30 million.

(Source: Coinglass)

5. In the past 24 hours, contracts such as $SOL, $BTC, $XRP, $ETH, and $DOGE have seen significant net outflows, indicating trading opportunities.

(Source: Coinglass)

News Dynamics

1. The UK plans to sell seized Bitcoin to fill the fiscal gap, with the sale potentially reaching $7 billion.

2. Indian crypto exchange allegedly hacked for $44.2 million, officials state that customer funds were not affected.

3. A certain Whale/institution has recently accumulated 47,121 ETH, worth approximately 169 million USD.

4. Shanghai announced a cross-border illegal currency exchange case using stablecoins as a medium, involving an amount of 6.5 billion yuan.

5, "The Whale who previously used BTC for cross-chain swapping of 46.05 million USD ETH" has bought 649.62 ETH again.

6. Analysis: Last week, some on-chain addresses accumulated 391,000 ETH, worth approximately 1.4 billion USD.

7, "The address that built a position of 1,074 WBTC four years ago" may sell 90 WBTC again, if sold it will make a profit of 9.648 million dollars.

8. U.S. Treasury Secretary Becerra: The U.S. dollar is about to go on-chain, and the "GENIUS Act" will solidify the dollar's status as the global reserve currency for generations to come.

9. James Wynn deposited 536,573 USDC into HyperLiquid to open a 25x leverage long position on ETH and a 10x leverage long position on PEPE.

10. Institutions like VanEck urge the SEC to approve Ethereum ETF staking applications on a "first-come, first-served" basis, unwilling to be approved in bulk alongside BlackRock.

11. Hong Kong Financial Development Bureau Director Hong Pi-cheng: Stablecoins should not become objects of speculation, but rather a long-term strategy.

12. Financial Secretary of Hong Kong, Paul Chan: The HKSAR government will position artificial intelligence as a key industry.

13. Michael Saylor has once again released a strategy Bitcoin Holdings tracking message, which may reveal the increase in holdings data this week.

14. Data: Tokens such as AVAIL, VENOM, and ALT will have large unlocks next week, with AVAIL unlocking a value of approximately $18.9 million.

15. Analysis: Each time the ETF increases its holdings by 10,000 BTC, it can push the average price up by 1.8%, potentially rising to $150,000 in October.

16. The Ohio Public Employees Retirement System increased its holdings by 21,499 shares of Strategy stock in the second quarter of this year.

17, U.S. Secretary of Commerce Gina Raimondo: Powell has kept interest rates too high, and August 1 is the deadline for imposing tariffs.

18. The Whale "The White Whale" has profited nearly 30 million USD from long positions on ETH and SOL over the past week.

19. Jack Dorsey's Block will be included in the S&P 500 index on July 23.

20. With the increase in the Ethereum Gas limit, Vitalik emphasizes "security" in scaling.

21. Ethereum launches The Torch NFT to commemorate its 10th anniversary, which will be open for everyone to mint on July 30.

22. Bitcoin Core developers have fixed a disk padding vulnerability that has existed for 5 years.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): "Sunday's operations have become simpler, always maintaining slight fluctuations, with both trading volume and turnover rate showing a significant decrease, returning to the standard weekend market. The total turnover did not exceed 40,000 BTC for the whole day. Macroeconomic factors, politics, and even Trump have been quiet without saying much. Only Secretary of Commerce Powell is around. There are no important macro data next week, so let's see Trump's macro performance. There’s not much to say about Bitcoin's data; the fluctuations over the weekend are too minor. Doing grid trading during such times could be a good option, but I prefer manual trading. I made five trades today; the best thing about manual trading is that it trains your sensitivity to price. With low turnover, naturally, there’s no impact on support. It’s quite nice to have gone through this weekend so steadily. Starting in August, we’ll enter the tariff game, and it might not be this easy then."