Bankless co-founder David Hoffman said Bitcoin is at a point where its price action could follow one of two paths. In his view, the market may either move into a sideways base-building phase or see one last round of panic selling before stabilizing. Hoffman said he sees the first scenario as more likely. He wrote that Bitcoin is more likely to enter a period of consolidation, with the bottom largely already in place. His comments frame the current market structure as late in the downtrend rather than at the start of another deeper leg lower. The remarks were cited by ChainCatcher in a market analysis brief published on July 16. No additional price targets or timing details were included in the post.

Lookonchain data showed that U.S. spot Bitcoin exchange-traded funds posted a net inflow of 1,632 BTC for the day, even as the seven-day total remained negative at a net outflow of 2,975 BTC. Over the same period, U.S. Ethereum ETFs recorded a daily net inflow of 23,567 ETH. Their seven-day cumulative flow stayed positive, with a net inflow of 28,875 ETH. The latest figures point to a split short-term picture between the two products: Bitcoin ETFs logged fresh daily inflows but were still in seven-day net outflow territory, while Ethereum ETFs held both daily and weekly net inflows. The figures cited in the update were tracked by Lookonchain and published by Odaily.

On-chain analytics firm Glassnode said more than 65% of tokens moving onto exchanges are currently coming from long-term holders realizing losses, based on its “relative long-term/short-term holder exchange realized profit and loss” metric. The indicator tracks the share of profitable versus loss-making coins sent to exchanges and identifies which holder cohort is driving that flow. According to Glassnode, the current reading matches conditions seen in earlier bear market phases, when long-term holders dominated sell-side activity until that source of pressure was eventually exhausted. The firm said the metric can be used to gauge how strongly long-term holders are anchoring sell pressure in the market. Glassnode added that, until this share begins to contract, structural sell pressure from buyers who entered near the cycle top is likely to remain the main force behind exchange-related capital flows. The statement points to continued selling from underwater longer-term market participants rather than a shift in dominance toward short-term holders.

Crypto commentator Ansem argued that token buybacks alone do not necessarily support valuation, pointing to the gap between Hyperliquid’s HYPE and Pump.fun’s PUMP as an example. He said Hyperliquid generates about $800 million in annualized revenue while Pump.fun generates about $440 million, and both projects use part of their profits to buy back tokens. Even so, HYPE carries a fully diluted valuation of roughly $65 billion, compared with about $1.4 billion for PUMP. In Ansem’s view, that difference is driven less by revenue and more by a “trust premium” created by team behavior and market decisions. He said Hyperliquid has avoided overpromising, kept shipping products, and rewarded core users according to preset metrics, helping it maintain stronger trust with its community. By contrast, he noted that Pump.fun has generated about $1 billion in cumulative revenue and raised $1 billion through its ICO, but still has not delivered a previously promised user airdrop. Ansem said that if the project follows through on the airdrop and addresses core user concerns, PUMP could climb 10x to 15x, while also lifting platform volume, attention, and revenue. He added that Bitcoin, despite having no revenue, holds a market value of about $1.3 trillion because of its fixed 21 million supply and the trust built by a network that continues to operate.

Short sellers have sharply increased their bets against SpaceX as the stock trades back near its IPO price. According to data from S3 Partners cited by BlockBeats on July 16, roughly 185 million SpaceX shares are now sold short, equal to about 29% of the company’s public float and representing around $25 billion in short exposure. Three weeks earlier, estimated short interest stood at only 40 million shares, or about 5% to 7% of the float. The stock has fallen about 20% since the start of July and on Wednesday briefly dropped below its $135 IPO price for the first time. KeyBanc Capital Markets said only about 5% of SpaceX’s roughly 13 billion total shares were available for public trading at the time of listing, keeping the float relatively tight. Attention is also turning to upcoming lockup expirations. The first large block of restricted shares could become eligible for sale around the release of second-quarter earnings, when about 11% of total shares may be unlocked. After roughly 70 days of trading, additional tranches representing about 4% of total shares each are also set to come off lockup. Elon Musk’s roughly 42% stake remains locked until June 2027. SpaceX’s 13th Starship test flight is scheduled for Thursday and may shape market sentiment toward the stock.

Robinhood Launchpad Noxa said in a post on X that it no longer has control over its original domain after the domain was taken down. The project said the registrar may have resold the domain or taken it over, though the exact situation remains unclear at this stage. Noxa added that its only available interface now is the version hosted on ENS. The statement did not provide further details on how the domain was removed or whether recovery efforts are under way. The update centers on access to the project’s web interface and the status of the original domain, which Noxa said is no longer under its control.

U.S. prosecutors said a federal grand jury has charged Sioux Falls, South Dakota, crypto investor Benjamin Paul Wiener with 29 criminal counts tied to an alleged $20 million fraud scheme. The charges include wire fraud, money laundering, bank fraud, and aggravated identity theft. According to the indictment, Wiener, 43, is accused of using false statements to persuade dozens of investors in South Dakota and Minnesota to send money and digital assets to several companies he controlled. Prosecutors allege that after obtaining the funds, Wiener moved assets through banks and cryptocurrency exchanges to conceal their source, ownership, and control, while using part of the money for personal expenses. They also say he kept recruiting new investors when cash ran short or when earlier investors sought redemptions, and used later funds to repay earlier ones, an operating pattern they describe as consistent with a Ponzi scheme. The indictment says the conduct involved eight companies, including several LLCs. Wiener is also accused of forging documents and communication records in April 2025 and using another person’s identifying information to obtain a $1 million line of credit from a financial institution in Sioux Falls. He appeared in court on July 10, pleaded not guilty to all charges, and was released on bond. Trial is scheduled for Sept. 15. The case is being investigated jointly by the Internal Revenue Service Criminal Investigation division and the FBI.

A U.S. federal grand jury has indicted South Dakota-based crypto investor Benjamin Paul Wiener, according to a report cited by ChainCatcher from The Block. The indictment includes 29 counts in total. The charges listed in the report include wire fraud, money laundering, bank fraud, and aggravated identity theft. No additional details about the case, timeline, or court proceedings were provided in the brief. The update was published as a 7x24 newsflash by ChainCatcher and attributes the information to The Block.