[News Brief] Jul 14, morning | Bitcoin briefly nears $62,000 amid fears of a U.S.-Iran conflict

Bitcoin briefly nears $62,000 amid fears of a U.S.-Iran conflict

As concerns over a potential clash between the United States and Iran intensified, selling pressure spread across risk assets, and Bitcoin briefly approached the $62,000 level.

According to Odaily, BTC/USD remained under bearish pressure. JDK Analysis said Bitcoin’s current price action is highly fragile, with a large amount of short capital betting on further downside, making the $60,000 range a key market level to watch again.

However, if new spot buying emerges and key support levels hold, short positions could instead come under pressure. Trader Roman said some technical indicators, including RSI and trading volume, suggest bearish momentum may weaken, leaving room for Bitcoin to rebound toward the $70,000 to $75,000 range.

$425 million in net outflows from spot Bitcoin ETFs

PANews, citing SoSoValue data, reported that spot Bitcoin ETFs recorded total net outflows of $425 million on July 13, U.S. Eastern Time.

The product with the largest daily net outflow was Fidelity’s ETF FBTC, which saw $246 million leave the fund. FBTC’s cumulative net inflows stood at $9.905 billion.

Meanwhile, the product with the largest net inflow was the Grayscale Bitcoin Mini Trust ETF BTC, which attracted $53.3762 million. Its cumulative net inflows reached $2.547 billion.

VanEck’s ETF HODL recorded net inflows of $6.1399 million, bringing its cumulative net inflows to $1.142 billion.

As of the time of reporting, the total net assets of spot Bitcoin ETFs stood at $74.79 billion, with ETF net assets accounting for 5.99% of Bitcoin’s total market capitalization. Cumulative net inflows were $50.852 billion.

Trump proposes 20% levy on cargo passing through the Strait of Hormuz

President Trump proposed resuming a blockade on ships entering and leaving Iranian ports and imposing a 20% levy on cargo passing through the Strait of Hormuz. As Middle East tensions rose, Brent crude climbed about 10% to around $83.63 per barrel.

According to Wu Blockchain, citing Bloomberg, U.S. Central Command said enforcement of the measures would begin at 4 p.m. New York time on July 14.

The announcement came as the United States carried out airstrikes against Iran for a third consecutive day. The Strait of Hormuz is a major oil shipping route, and fears of logistics disruptions added upward pressure on crude prices.

More than $3.33 billion in positions liquidated on TradeXYZ, says Hyperliquid News

According to Odaily, Hyperliquid News monitoring showed that more than $3.33 billion worth of positions were liquidated on TradeXYZ.

Large-scale liquidations typically occur during the unwinding of leveraged positions and often expand when market volatility increases.

Upbit 24-hour trading volume surges 1,016.4%

According to CoinGecko data, Upbit’s 24-hour trading volume jumped 1,016.4% to more than $4.142 billion amid a sharp decline in the South Korean stock market.

As volatility in domestic equities grew, trading demand on major KRW-based exchanges increased significantly.

Alameda Research and FTX transfer 201,000 SOL to BitGo custody

According to Odaily, Onchain Lens said Alameda Research and FTX transferred about 201,000 SOL to BitGo custody through multiple transactions within minutes.

The transferred amount was worth about $15.14 million, and the funds were distributed across several BitGo custody addresses.

U.S. government-linked wallet deposits 140.214 BTC to Coinbase Prime for the first time in four years

According to blockchain analytics account Lookonchain, a wallet linked to the U.S. government moved for the first time in four years and deposited 140.214 BTC to Coinbase Prime.

The holdings were valued at about $8.79 million. Exchange deposits are generally interpreted as a sign of potential selling, though no actual sale has been confirmed.

Cumberland’s Singapore unit obtains MPI license in Singapore

Odaily reported that Cumberland’s Singapore entity has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore.

With this license, Cumberland can provide digital payment token (DPT) services and cross-border money transfer services in Singapore.

Cumberland is a crypto trading and liquidity services firm, while Singapore has been tightening licensing reviews for digital asset businesses.

Qubic reports GitHub organization security incident

Qubic said on the 13th that a security incident occurred in its GitHub organization, allowing a compromised account to access code repositories and extract sensitive information.

Qubic said it had launched an emergency response and instructed network guardians to rotate their seeds immediately. It also said users who unlocked the web wallet between 03:00 and 10:00 UTC that day should move their assets to a new identity.

The project also urged developers not to pull code from Qubic repositories or deploy new code until an official audit is completed. Qubic emphasized that users should trust only official Discord announcements and should never disclose their seed to anyone under any circumstances.

Whale Alert spots transfer of 2,509 BTC from anonymous wallet to Binance

According to Whale Alert, 2,509 BTC, worth about $156.84 million, was transferred from an anonymous wallet to Binance on the 13th.

Large transfers of BTC to exchanges are typically viewed as incoming potential sell-side supply and are often cited as a short-term volatility factor for the market.