TL;DR

Possible $8.6B Bitcoin hack flagged; ETH whale moves $204M; Robinhood tokenizes 213 stocks on Arbitrum.

Highlights

• Coinbase analysts flagged a possible $8.6B Bitcoin theft from 14-year-old dormant wallets after suspicious BCH test activity, raising concerns over legacy key security 1.
• ETH whale James Fickel transferred $204M in Ether to Coinbase Prime , prompting speculation of large-scale selling and potential near-term pressure on ETH 2.
• US spot Bitcoin ETFs saw a $342M outflow followed by a $770M net inflow for the week; spot Ether ETFs had mixed flows but ended with $219M net additions 4.
• Robinhood launched 213 tokenized stocks and ETFs on Arbitrum for EU users, challenging traditional exchanges and expanding onchain real-world asset trading 5.
• TON Foundation announced a UAE Golden Visa program requiring a $100K Toncoin stake, driving a 10% TON price rally, though regulatory approval is not confirmed 6.
• LetsBonk overtook PumpFun in Solana memecoin launchpad market share; BONK token rallied 20% to become Solana’s top memecoin 7.
• Bitwise reaffirmed its $200K year-end Bitcoin target but cut expectations for ETH and SOL , citing macro headwinds and stronger institutional flows into BTC 9.
• US Secret Service launched a global crackdown on crypto scams, expanding cross-border enforcement and blockchain forensics 3.
• US tariff pause ends July 9, with duties on key partners potentially rising to 70% by August 1, raising trade risk 14.
• OPEC+ raised August oil output by 548,000 bpd, shifting from price support to market-share defense as inventories rise 16.

Commentary

The crypto market is navigating a week marked by significant security, liquidity, and macroeconomic developments. The flagged movement of $8.6B in dormant Bitcoin —potentially the largest hack to date—has put a spotlight on the risks of legacy key management and cold storage practices 1. This event, if confirmed, could increase scrutiny on custodial solutions and prompt some re-evaluation of long-term storage strategies, especially among institutional holders.

Large flows continue to shape the market: ETH whale James Fickel’s $204M transfer to Coinbase Prime has traders watching for possible sell pressure 2, while Bitcoin and Ether ETFs highlighted ongoing institutional activity—Bitcoin ETFs saw a sharp reversal from outflows to strong inflows, and Ether ETFs ended the week positive despite mixed midweek flows 4. Bitwise’s reaffirmed bullish Bitcoin target, alongside its more cautious stance on ETH and SOL , reflects the current tilt of institutional sentiment toward Bitcoin as macro uncertainty persists 9.

Onchain innovation remains active. Robinhood ’s launch of tokenized stocks on Arbitrum for EU customers is a direct challenge to traditional exchanges and a notable move for real-world asset tokenization 5. In the Solana ecosystem, LetsBonk’s rise over PumpFun in the memecoin launchpad space and BONK ’s 20% rally underscore the ongoing appetite for speculative altcoin trading and the rapid evolution of launchpad dynamics 7.

Regulatory and macro risks are front and center. The US Secret Service’s expanded crackdown on crypto scams signals increased enforcement 3, while the looming end of the US tariff pause and OPEC+’s surprise oil output hike add fresh layers of macro risk that may impact crypto via risk sentiment, dollar flows, and inflation expectations 1416. Traders should closely track large wallet movements, ETF flows, and regulatory headlines, particularly around the July 9 US tariff deadline 14.