Bitcoin Surges Past $62K as ETF Inflows and Whale Accumulation Signal Market Bottom

Bitcoin bounced off 21-month lows to nearly $63,000 after spot ETFs saw $221 million in inflows, ending a 10-day outflow streak. Simultaneously, large holders added 270,000 BTC ($16.7B) in two weeks, a pattern seen near cycle lows. On the regulation front, Brazil proposed 24-hour stablecoin transfer holds and classification as electronic money, the US GENIUS Act rulemaking deadline looms on July 18, and India's RBI called for banking restrictions on crypto. On-chain developments include Solana's binding governance system and Ondo Finance launching tokenized U.S. securities with full voting rights.

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Bitcoin bounces to nearly $63k as ETFs see $221M inflow and whales accumulate $16.7B Bitcoin and Ether extended relief rallies on July 3, with BTC touching $62,976 and ETH reaching $1,775, after spot Bitcoin ETFs recorded a net $221 million inflow on July 2, breaking a 10-day outflow streak. Large holders added over 270,000 BTC ($16.7 billion) in two weeks even as institutions sold, a pattern that historically coincides with market bottoms, and the Crypto Fear & Greed Index hit 'Extreme Fear' at 11 before the rally. 1 2 3

Brazil central bank proposes strict stablecoin rules including 24-hour holds and electronic money classification Brazil's central bank proposed a mandatory 24-hour hold on outbound stablecoin transfers over $10,000, and argued in Congress that stablecoins should be regulated as electronic monetary instruments rather than digital assets. The crypto industry group Abcripto rejected the classification, warning it would stifle adoption, with the new rules expected by October 2026. 4 5

Tether freezes USDT in 131 TRON wallets following OFAC sanctions update Stablecoin issuer Tether froze USDT connected to 131 TRON addresses after an updated OFAC sanctions action, highlighting the power of centralized issuers to enforce blacklists at the token level, with Chainalysis noting the role of blockchain addresses in the enforcement trail. 6

US stablecoin compliance costs set by July 18 deadline, threatening mid-market issuers Six federal agencies have until July 18, 2026, to finalize rules under the GENIUS Act, which will require 1:1 backing and stringent reporting, and fixed compliance costs will likely force mid-market stablecoin issuers to exit, concentrating the $311 billion industry around scale players. 7

India's RBI renews call for banking restrictions on crypto and private stablecoins The Reserve Bank of India has reportedly recommended that banks and payment systems remain insulated from cryptocurrencies and privately issued stablecoins as India reviews its digital asset policy, signaling continued regulatory hostility. 8

Solana launches binding onchain governance with staker override rights The Solana Foundation launched Solana Governance Proposals (SGPs), a fully onchain, stake-weighted system where validators vote by default but individual stakers can override, with proposals needing endorsements from 15% of stake and a 66.67% supermajority to pass. 9

Ondo Finance launches first third-party tokenized U.S. stocks with full onchain voting rights Ondo Finance introduced tokenized versions of BlackRock's iShares S&P 500 ETF (IVV) and Micron (MU) under the SEC's custodial framework, offering full shareholder voting rights via Broadridge, as the tokenized securities market grew 13.6x to $1.67 billion in one year. 10