Deribit: Approximately $16.38 billion in Bitcoin and Ethereum options will expire this Friday.
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10x Research: Bitcoin options trading volume has fallen to $3.5 billion since October.
According to Foresight News , 10x Research tweeted that Bitcoin options trading volume has fallen from $8 billion to $3.5 billion since October. They also predict that options trading volume may continue to decline in the future.
Tether burned 2.5 billion USDT on Ethereum in a single day, the largest single-day destruction since February.
According to Mars Finance, on July 8th, CryptoQuant, citing on-chain data analysis, reported that on July 7th, the Tether Treasury burned $2.5 billion worth of USDT on the Ethereum network, the largest single burn on the network since February this year. This surpasses the $2 billion burn on May 8th and is second only to the historical high of $3.5 billion on February 10th. Simultaneously, the USDT balance flowing in and out of Binance via the Tron network fell to approximately $806 million, the lowest level since December 29th, 2025 ($391 million), falling below the $1 billion mark, indicating a significant contraction in USDT liquidity through the Binance Tron channel. While the large-scale burn by the Tether Treasury primarily reflects redemptions, fund management, or cross-chain rebalancing operations, it is not a direct market signal. However, the simultaneous contraction in Ethereum supply and Binance Tron liquidity warrants continued monitoring to see if the trend of synchronized tightening of liquidity in both stablecoin chains continues.
Bloomberg: Quantum computing puts approximately 34% of the existing Bitcoin supply at risk of being hacked.
PANews reported on July 7th, citing Bloomberg, that quantum computing is considered a new threat that could potentially crack the cryptographic algorithms of crypto assets such as Bitcoin. Quantum computers are expected to far surpass traditional computers in decrypting complex mathematical problems, and theoretically, could deduce private keys from public keys, thereby stealing on-chain assets. Wallets with early address formats and those that reuse addresses are at the highest risk. Galaxy Digital estimates that approximately 34% of circulating Bitcoin, worth about $470 billion, may become targets for future quantum attacks. Coinbase has established an advisory committee, and Strategy, where Michael Saylor works, has also launched a related risk project.
Wintermute: Bitcoin's rise is more in line with the characteristics of a "relief rally" than the start of a new bull market.
According to Mars Finance, on July 7th, Wintermute released a market analysis stating that the latest US non-farm payroll data significantly missed market expectations, coupled with Warsh's speech being interpreted as dovish, driving a general rebound in global risk assets, with the crypto market performing the best. Bitcoin and Ethereum have both significantly outperformed the S&P 500 and Nasdaq indices recently. Bitcoin's current rally has a more solid foundation, mainly driven by continued whale buying, options fund flows towards call options, and improved on-chain data. The end of net outflows from Bitcoin spot ETFs also boosted market sentiment. The cooling US job market has further reduced market expectations for interest rate hikes this year, while Warsh reiterated the 2% inflation target at the Sintra Forum but did not release more hawkish signals, which investors interpreted as a more dovish stance from the Federal Reserve. In the crypto market, on-chain data shows that whale wallets have accumulated over 270,000 BTC near the 200-week moving average, while options market funds have shifted from hedging positions to call options with strike prices of $60,000 to $70,000. Meanwhile, Ethereum's rise is largely driven by institutional narratives, including the official launch of Ethereum Institutional and the continued progress of institutional tokenization infrastructure. However, the Ethereum Foundation's recent layoffs of approximately 20% and budget cuts of about 40%, along with previous outflows from ETH ETFs, still reflect some pressure on its fundamentals. This round of gains is more characteristic of a "relief rebound" than the start of a new long-term bull market. Improved macroeconomic environment, easing tensions in the Middle East, continued institutional investment in Ethereum, and low liquidity during the summer have all contributed to the market recovery. However, from a funding perspective, Bitcoin spot ETFs have seen cumulative outflows of approximately $2.73 billion this year. Until ETF fund flows continue to improve and form a trend, the market should still view the current situation as a sentiment correction rather than a structural reversal, and remain cautious about the future.
Michael Saylor: Strategy currently holds approximately $2.55 billion in cash reserves.
According to Odaily Odaily, Michael Saylor posted on the X platform that Strategy has sold 3,588 BTC, raising approximately $216 million, which will be used to pay dividends related to digital credit securities. This dividend payout covers the quarterly dividends of digital credit securities such as STRF, STRE, STRK, and STRD, as well as the full monthly dividend for STRC in June. As of July 5, 2026, Strategy still held 843,775 Bitcoins and approximately $2.55 billion in cash reserves.
Circle minted an additional 250 million USDC on the Solana chain, bringing its total minting this year to approximately 66.76 billion.
PANews reported on July 8th that, according to Onchain Lens, stablecoin issuer Circle has just minted an additional $250 million worth of USDC on the Solana blockchain. Data shows that Circle has minted approximately $66.76 billion worth of USDC on Solana so far this year.