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First time reading? I’m Jordan, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights.
Good morning — Jordan here.
Happy Tuesday to the 19,035 Minimalist members reading today. 👋
Today we’re covering:
Mystery surrounds the 80,000 BTC wallet movement
Bitcoin Depot breach exposed 27K customers
Trump posts about crypto after all-time high
And everything else you need to know.
Estimated read time: 2 minutes and 54 seconds
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WHAT WE’RE WATCHING
80,000 BTC (~$8.6 billion) were simultaneously moved from 8 wallets that had been dormant for over 14 years. Each wallet contained exactly 10,000 BTC.
💰 80,000 dormant BTC ($8.6B) moved on July 4 from eight 2011-era wallets, in what appears to be a coordinated exploit or performance. The entity demonstrated private key control, posted legal notices and cryptic messages on-chain, and staged a provocative narrative mixing law, art, and cryptography.
📊 Willy Woo’s Macro Cycle Risk chart shows Bitcoin’s risk metric dipping late in the cycle. The model, which tracks BTC liquidity, suggests that such dips often precede new all-time highs — signaling potential fresh liquidity entering the market even near $109k levels.
💹 After all-time high, Trump says crypto is “through the roof.” Trump also urged Fed to cut rates. He also claimed tech, industrial stocks, and the NASDAQ hit record highs, credited tariffs for boosting revenue, highlighted NVIDIA’s 47% surge, and called on the Federal Reserve to “rapidly” lower rates amid strong economic performance.
🏛️ Senate hearing debates crypto rules, Trump’s ties, and agency roles. Lawmakers and experts clashed over illicit finance risks, the Trump family’s crypto interests, and SEC-CFTC jurisdiction, while praising bipartisan efforts to craft principles-based regulation supporting innovation and consumer protection.
✈️ Emirates signs deal with Crypto.com to accept Bitcoin and crypto payments. Announced July 9, the Dubai airline will let customers book flights with digital currencies starting 2026, aligning with Dubai’s fintech ambitions and targeting younger, crypto-savvy travelers.
🟠 [Bitbo Charts] Bitbo added 5 new macro charts comparing Bitcoin to key U.S. economic indicators:
IN THE LOOP
Unchained surpasses $1B in Bitcoin-backed loans.
Corporations added a record 159,107 BTC in Q2.
Bitcoin hit a new all-time high above $111,000 as Coinbase downtime fueled bullish sentiment.
Bitcoin Depot disclosed a 2024 data breach exposing 27,000 customers’ info but claims no evidence of misuse.
Odds of Bitcoin hitting $200K in 2025 rise to 10% on Kalshi as price surges.
The most clicked link in our last newsletter was Strategy pausing their weekly Bitcoin purchases after Q2 results.
MACRO & INDUSTRY
POLL
Do you believe the 80,000 BTC move was…? |
TUESDAY’S POLL RESULTS
Will Bitcoin pass $120,000 this month?
🟩🟩🟩⬜️⬜️ 👍 Yes (67%)
🟨🟨⬜️⬜️⬜️ 👎 No (33%)
👍 Yes: “Maybe it's wishful thinking, but everything seems to be in place for this to be accomplished. Good fortune to all.” — Stephen
👍 Yes: “Widespread adoption of BTC is inevitable, but pricing evaluation in fiat isn’t indicative of the tsunami that’s coming; it’s just a superficial precursor.” — Cory
👍 Yes: “Yes. Those are my projections.” — Stan
👎 No: “New high likely, but $120k no.” — Phil
👎 No: “Hopium abounds!” — Mike
👎 No: “The asset has matured. Slow steady grind up is the new norm.” — Jimmy
CHARTS & DATA
Pi Cycle Top Estimate - Pi Cycle Top estimate is now expected to cross in March 2027.
Resistance - After months of resistance at the $110,000 level, Bitcoin has clearly broken out to new highs. Let’s see if we enter price discovery mode.
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