Is a surge brewing beneath boring price action?

A $76K bitcoin setup is hiding in plain sight. The CLARITY Act missed its window — here's what happens next. And Bybit just sued North Korea. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Friday, August 7, 2026 A case for a bitcoin surge to $76,000 may be building beneath the boring price action — but there's a caveat Bitcoin is tracing out a potential inverse head-and-shoulders pattern on the daily chart — a setup technical analysts treat as a reliable bullish reversal signal. The three troughs are in place: a left shoulder near $60,000 in early June, a deeper head near $57,700 in late June, and a right shoulder around $62,500 more recently. If prices break decisively above the neckline at roughly $66,800, chartists project a target near $76,000 based on the pattern's depth. The catch: the pattern isn't confirmed until that neckline breaks, and two headwinds are real — the CLARITY Act is now unlikely to pass this year, removing a regulatory catalyst, and the 50-day SMA near $63,321 remains the level to watch on the downside. Read more → A message from CME Group We are proud to announce that Nasdaq CME Crypto Index futures are now live and available to trade 24 hours a day, seven days a week. Combining Nasdaq's expertise in world-class indexing with our liquid, transparent and CFTC-regulated marketplace, this launch continues to deepen our partnership. The result is a groundbreaking new way for you to gain exposure to a significant portion of the cryptocurrency market — including bitcoin, ether, XRP, Solana, Cardano, Stellar, Chainlink and newly added Bitcoin Cash — all within a single, financially settled transaction. Why trade Nasdaq CME Crypto index futures? Broad exposure, simplified: Instead of trading multiple assets, you can access a basket of the world's leading cryptocurrencies in one trade. Capital efficiency: Control a larger position with a smaller capital outlay and benefit from potential margin offsets. Right-sized trading: Choose between larger- or Micro-sized contracts to precisely scale your strategy — anywhere, anytime. Find out more Policy After a CLARITY Act funeral, the crypto world would keep turning The Senate missed its window and the CLARITY Act is effectively dead for 2026 — but Jesse Hamilton's analysis makes the case that the industry doesn't need a bespoke law to keep operating. The SEC is close to releasing its tokenization sandbox rule and its "Reg Crypto" fundraising exemption. The CFTC and banking regulators are issuing guidance and granting charters. GENIUS passed last year and the crypto caucus in Congress is set to grow. The harder argument is about durability: agency statements and guidance are easy to reverse, formal rulemaking is harder, and a Democratic White House in 2028 could repopulate every regulator. A September return or lame-duck session still remains possible — and if it fails entirely, a version of this bill will very likely emerge again. Read more → Policy Bybit sues North Korea and Lazarus Group over $1.5 billion hack, secures asset freeze Bybit filed a civil lawsuit in U.S. District Court against the DPRK, its Reconnaissance General Bureau intelligence agency, and the Lazarus Group — the state-sponsored hacking unit responsible for stealing $1.5 billion in Ethereum from the exchange in February 2025, the largest cryptocurrency heist in history. A federal judge has issued a preliminary injunction freezing certain identified stolen assets while the case proceeds. North Korea has stolen $6.75 billion in crypto in total, widely believed to fund its weapons program. "The Lazarus attack wasn't just an attack on Bybit," CEO Ben Zhou said. "It was an attack on trust in our industry." Read more → Know someone who should be reading this? Share this newsletter See all of CoinDesk’s newsletters    CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York,NY,10011,USA, Unsubscribe Manage Preferences   Copyright © 2026 CoinDesk, All rights reserved.

The market "expects nothing to happen." That's the risk.

Vol near zero. Puts dominating short-term options. 210,000 BTC left old wallets. And payrolls drop this morning. Have a good weekend. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Friday, August 7, 2026   Bitcoin’s implied volatility index DVOL has fallen to 35 — down from 90 earlier this year — and the market has apparently concluded this means nothing is about to happen. Bitwise’s Luke Deans put it bluntly: “The market is effectively becoming crowded around the expectation that very little will happen.” That crowding is itself the risk. Meanwhile the short-dated options market is sending a different signal: puts at $62,000 and $63,000 dominated 24-hour trading, with the three most popular expiring before month-end. Separately, 210,000 bitcoin have left long-term holder wallets in the past week — the largest such migration since December 2024 — but the key distinction is this is happening 50% below the all-time high, not near a top. The Coldcard fallout is reshuffling custody, not breaking conviction. Payrolls drop this morning — expectations call for +97,500 jobs and 4.2% unemployment. A strong read could reinforce the case for a rate hike and push the 10-year yield, already at an uncomfortable 4.67%, even higher. Have a good weekend. Read today’s full report → Market snapshot As of 8am EST Asset Price 24h BTC $64,700 +0.10% ETH $1,883 −0.30% SOL $73.90 −0.60% XRP $1.08 −0.80% Prices approximate. Visit coindesk.com/price for live data. What matters today Markets   Story 1 of 3 Bitcoin’s volatility has nearly disappeared. The risk hasn’t. Spot bitcoin ETFs have not seen a single day of outflows since August started, pulling in $754 million in the first week of the month. Yet bitcoin has barely moved, holding near $64,700. The opposing signals — institutional money returning but price inert — point to a market with a spot bid but limited conviction. Derivatives traders are simultaneously hedging against a retreat: puts accounted for 53.8% of bitcoin options volume in the past 24 hours, and three of the four most-traded contracts were puts at $62,000 or $63,000 expiring before month-end. Calls still represent 60.7% of total open interest, so the broader book remains skewed toward upside, but the near-term flow says protect first, speculate second. Underneath it all, Deribit’s DVOL volatility index sits near 35, down from 90 earlier this year, and it has compressed across 30-, 60- and 90-day windows and across one-week to three-month options — Luke Deans of Bitwise says the market is “becoming crowded around the expectation that very little will happen.” That crowding is precisely what makes a large move dangerous when it comes. July payrolls land this morning: economists expect +97,500 jobs after a +57,000 gain in June, with unemployment holding at 4.2%. The 10-year Treasury yield is already at 4.67%, a level Fidelity’s Jurrien Timmer says “history suggests nothing good happens” at. A strong reading reinforces the case for a Fed rate hike and puts more pressure on that yield. Brent crude topped $83 after Yemen’s Iran-linked Houthis attacked Saudi Arabia, widening the conflict. Gold added 1.5% to $4,300 as investors moved toward safety. Clarity Act vote slipped to September after the Senate broke for recess without a vote. Stay alert. Read more → Markets   Story 2 of 3 Bitcoin hovers below $65,000 as Middle East tensions escalate further. Bitcoin held near $64,700 on Friday, barely changed over 24 hours, while the broader CoinDesk 20 fell 0.2%. Brent crude climbed above $83 a barrel after Yemen’s Iran-linked Houthis attacked Saudi Arabia, the latest widening of a conflict that has now dragged Gulf energy infrastructure and key shipping chokepoints into its orbit. Treasury yields stayed elevated at 4.67% for the 10-year note, a level Fidelity’s Jurrien Timmer described as one where “history suggests that nothing good happens.” Higher oil can add to inflation pressure if sustained, while elevated yields tighten financial conditions — together limiting the scope for near-term rate cuts and weighing on risk assets including bitcoin. Gold moved to $4,300, up 1.5%, as investors shifted toward safety. In derivatives, the long-short taker ratio returned to neutral after leaning bullish Thursday, suggesting caution ahead of the payrolls report. Canton Network’s CC token fell 13% yet saw futures open interest surge 5%, with the OI-adjusted CVD remaining negative — sellers dominating. Most major tokens showed negative CVD readings. DOGE, XRP and SUI saw open interest gains; SHIB fell. Iran’s chief negotiator accused Trump of “theater diplomacy” as the U.S. and Iran offered opposing accounts of peace talks, keeping oil elevated and Hormuz passage near standstill. Global stocks headed for their best weekly gain since May on earnings optimism, but crypto is finding it harder to join: the absence of clear crypto-specific catalysts — with Clarity Act now pushed to September — leaves bitcoin range-bound and waiting on macro data to provide direction. Read more → Markets   Story 3 of 3 Coldcard fallout shows up onchain as 210,000 bitcoin leaves old wallets. The Coldcard security breach — in which weak randomness in affected firmware allowed attackers to reconstruct wallet recovery phrases and drain funds — has now produced a measurable onchain signature. Glassnode data shows roughly 210,000 BTC have moved out of long-term holder wallets in the past week, dropping LTH supply from just under 15 million to approximately 14.7 million — the largest such decline since December 2024, when bitcoin was approaching $100,000 for the first time. The crucial context is what makes this different: December’s distribution happened near a market peak, with experienced holders taking profits into strength. This week’s movement is happening with bitcoin roughly 50% below its all-time high. Glassnode’s read is that this is custody migration, not conviction loss — holders moving to newly generated wallets with stronger randomness, or shifting to regulated custodians and ETFs. ETF data offers supporting evidence: U.S. spot bitcoin ETFs pulled in $754 million this week, with BlackRock’s IBIT accounting for the majority. Alongside the LTH movement, Santiment data shows whale and shark wallets — those holding 10 to 10,000 BTC — have accumulated over 20,000 BTC worth roughly $1.2 billion since July 29, buying hardest as the Coldcard news spread. A 2011-era wallet also moved $3.2 million toward a FalconX-linked address on Thursday, one of several dormant-wallet movements that have punctuated the week. The scale of the LTH outflow warrants watching through the weekend: if price holds and supply continues migrating without appearing on exchanges as sell-side pressure, the read becomes more clearly a custody reshuffle than distribution. Read more → CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. Crypto Daybook Americas: A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here.  Copyright © 2026 CoinDesk, All rights reserved.  CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York, NY 10011, USA Unsubscribe Manage preferences

CLARITY has one day left... here's how it ends

Today is the last day for the CLARITY Act. Here are all possible outcomes. Tether is tokenizing Saudi real estate. And Anvil wants to rewire how credit works. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Thursday, August 6, 2026 Here are the possible outcomes for the CLARITY Act right now Tomorrow — August 7 — is the last realistic day for CLARITY Act action before the Senate's summer recess. Majority Leader Thune must file cloture tonight if he wants to hold a first procedural vote before everyone goes home; if he doesn't, the Senate could still extend its session into next week, or return in September with 14 working days and a narrower window. The outstanding issues are significant: ethics language enforcement (DOJ vs. state AGs), illicit finance provisions, and agriculture-related items are still being negotiated. Nikhilesh De maps every possible path from here — pass tonight, extend the session, delay to September, or die in 2026 — with the specific conditions that would make each one happen. If you're trying to understand what the Senate vote noise means as it develops today, this is the piece to read. Read more → A message from CME Group We are proud to announce that Nasdaq CME Crypto Index futures are now live and available to trade 24 hours a day, seven days a week. Combining Nasdaq's expertise in world-class indexing with our liquid, transparent and CFTC-regulated marketplace, this launch continues to deepen our partnership. The result is a groundbreaking new way for you to gain exposure to a significant portion of the cryptocurrency market — including bitcoin, ether, XRP, Solana, Cardano, Stellar, Chainlink and newly added Bitcoin Cash — all within a single, financially settled transaction. Why trade Nasdaq CME Crypto index futures? Broad exposure, simplified: Instead of trading multiple assets, you can access a basket of the world's leading cryptocurrencies in one trade. Capital efficiency: Control a larger position with a smaller capital outlay and benefit from potential margin offsets. Right-sized trading: Choose between larger- or Micro-sized contracts to precisely scale your strategy — anywhere, anytime. Find out more Research · Sponsored by Anvil Anvil: The missing collateral layer Secured credit is the cheapest form of borrowing in the global economy — and the least accessible, because the cost of verifying and enforcing a collateral claim is largely fixed regardless of deal size, pricing out smaller borrowers entirely. DeFi proved that cost can be driven toward zero, but built a lending product that still required taking on debt. Anvil proposes something different: a programmable on-chain letter of credit that lets any holder pledge assets as a guarantee without becoming a borrower — no loan, no interest, custody and yield retained until the guarantee is called. CoinDesk Research examines whether the primitive can extend secured credit beyond crypto into the $250 trillion global credit market. Read more → Business Tether expands tokenization business into Saudi Arabia, starting with real estate Tether is bringing its Hadron tokenization platform to Saudi Arabia through a partnership with local firm First Data and fintech BKN301, starting with institutional real estate assets and with plans to expand into energy, infrastructure, and other asset classes. The move gives Tether a foothold in a market aggressively pursuing financial modernization under Vision 2030, where the government has made enterprise blockchain a priority across financial services and supply chains. Citi projects the tokenized securities market could reach $5.5 trillion by 2030; Tether, already the issuer of the largest tokenized gold product at $2.6 billion, is positioning Hadron as the infrastructure layer for that build-out well beyond the U.S. and Europe. Read more → Know someone who should be reading this? Share this newsletter See all of CoinDesk’s newsletters    CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York,NY,10011,USA, Unsubscribe Manage Preferences   Copyright © 2026 CoinDesk, All rights reserved.