Sonar
July 18, 2026

Bitcoin traded between $62K and $65K over the week ending July 18, closing at $64,056 with a net 0.1% decline as Middle East conflict drove risk-off flows. ETF inflows resumed with $107.8M into spot Bitcoin products on July 17 while Strategy raised $467M in cash without adding to its 843,775 BTC holdings. On-chain activity showed concentrated WBTC accumulation totaling over $29B across repeated routes to a single USDC/USDT-linked whale alongside smaller altcoin rotations in AAVE and LINK.

Market Sentiment: Neutral

Six bearish articles outweighed five bullish ones as Iran conflict and long-term holder selling dominated coverage. Positive drivers included $107.8M ETF inflows on July 17 and Morgan Stanley's E*TRADE launch. ETH outperformed with a 2.5% gain while BTC remained flat, reflecting rotation into altcoins amid macro uncertainty.

Top News This Week

  • Bitcoin Traders Pull BTC Below $63K as Middle East Tensions Trigger Fresh Risk-Off Selling (BitcoinNews) — Iran-US hostilities pushed BTC to $62,037 on July 13 and kept price action capped below $65K, increasing short-term volatility and pressuring leveraged positions.
  • Morgan Stanley’s E*TRADE Launches Spot Crypto Trading (Cointelegraph) — E*TRADE added spot BTC, ETH and SOL trading on July 17, expanding institutional access and signaling further mainstream integration by a major bank.
  • Bitcoin ETFs Extend Inflows as BTC Briefly Hits $65K (Cointelegraph) — Spot Bitcoin ETFs recorded $107.8M net inflows on July 17 after weeks of outflows, confirming renewed institutional demand despite macro headwinds.
  • Strategy Pads Cash Reserves to $3 Billion, Skipping Bitcoin Buy for Third Week (DecryptMedia) — MicroStrategy raised $467M via equity sales but added zero BTC, lifting its USD reserve to $3B and shifting focus to liquidity management.
  • Bitcoin Tests $63K as Long-Term Holders Keep Selling at a Loss (DecryptMedia) — On-chain data showed continued distribution by long-term holders even as price rebounded, increasing supply pressure near current levels.
  • CLARITY Act's Path To Law Narrows As Senate Returns (BitcoinMagazine) — Senate return raised odds of market-structure legislation passing before August recess, potentially unlocking clearer regulatory framework for institutions.

Biggest Whale Movements

  • WBTC — accumulation, $29035.4M. 99 repeated transfers totaling $29.035B moved WBTC into a single USDC/USDT-linked whale wallet across the week. Route consistency points to internal custody rotation rather than open-market buying.
  • AAVE — distribution, $38.8M. 6 repeated transfers totaling $38.8M sent AAVE from unknown wallets into a vault. Activity coincided with AAVE's 7.8% price decline.
  • LINK — accumulation, $17.7M. 6 repeated transfers totaling $17.7M moved LINK from hot wallets into another hot wallet cluster. Additional $7.3M single transfer from cold to hot wallet on July 18.
  • WBTC — accumulation, $14.4M. 3 repeated transfers totaling $14.4M routed WBTC between hot wallets, suggesting internal rebalancing by a single entity.
  • ONDO — accumulation, $9.5M. 3 repeated transfers totaling $9.5M moved ONDO from hot wallets to unknown addresses while separate flows returned $8M to a verified whale.

Price Movers

  • LDO +20.4% — LDO rose from $0.30 to $0.3612 as whale flows showed $1.4M transfer from hot to cold wallet on July 18. Momentum may extend if staking demand continues.
  • ONDO +4.5% — ONDO advanced from $0.3281 to $0.3428 alongside $9.5M in repeated whale accumulation. Watch for follow-through above $0.35 resistance.
  • LINK +3.8% — LINK gained from $7.963 to $8.265 with $17.7M in repeated buys and a $7.3M cold-to-hot transfer. Continued accumulation could support further upside.
  • AAVE -7.8% — AAVE fell from $95.7 to $88.22 while $38.8M was transferred into vaults. Distribution pressure remains the dominant driver.
  • SOL -4.3% — SOL declined from $78.07 to $74.72 amid broader risk-off sentiment. No large whale accumulation observed in the data.
  • EIGEN -3.9% — EIGEN dropped from $0.2371 to $0.2279 with $3.3M in repeated sells from top WETH holder. Further downside likely if selling persists.

What to Watch Next Week

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