Bitcoin (BTC) buying volume surged sharply, temporarily reported at around $64,015 on July 7. U.S. President Trump hinted that Bitcoin could eventually be included in the Trump Account, a new tax-advantaged account designed for children. BonkDAO was attacked via a malicious governance proposal, resulting in the theft of $20 million worth of BONK tokens.
Macro Events & Crypto Highlights
- According to BeInCrypto, President Donald Trump stated that Bitcoin (BTC) could ultimately be included in the Trump Account, a new tax-advantaged account for children. On Monday, when directly asked whether the plan would include Bitcoin, he replied that this scenario could happen. Trump made the remarks at an event related to the launch of the program, just days before accounts would be opened to families nationwide. His response immediately sparked renewed speculation about the role of cryptocurrency in government-backed savings plans.
Under the "One Big Beautiful Bill Act," the Trump Account was officially launched on July 4. Children born between 2025 and 2028 will receive a one-time $1,000 initial Treasury deposit. Additionally, families can deposit up to $5,000 per year into the account until the beneficiary turns 18.
- The attacker leveraged the token-weighted voting mechanism of BonkDAO on Solana's Realms platform to push a malicious proposal and stole approximately $20 million worth of BONK tokens from the treasury. The stolen tokens were transferred to exchanges, causing BONK's price to drop over 9%, and Upbit suspended deposits and withdrawals. For BONK holders, this directly hit the treasury that funds the ecosystem, with no recovery timeline yet and the attacker's identity still unknown.
News Updates
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BonkDAO attacker spent $4 million in voting costs; only 7 addresses voted in the 6 days since the proposal was submitted.
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Visa data: Stablecoin monthly transaction volume hit a record $1.79 trillion in June, with USDC accounting for 70% of transaction volume in the first half of the year.
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Nasdaq-listed Empery Digital increased its Bitcoin holdings by 1,200 BTC in six days, worth approximately $72.65 million.
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BonkDAO suffered a malicious governance proposal attack, with $20 million in BONK tokens stolen.
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Crypto startup M1X Global completed a $5.5 million seed round led by Paradigm.
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Two index trading teams under Millennium generated approximately $3.7 billion in profit in a single month.
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BlackRock purchased and withdrew 7,546 ETH from Coinbase Prime, worth about $13.2 million.
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Securitize secured $400 million in funding to expand its institutional tokenization business through acquisitions.
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Trump responds to whether Trump Accounts will include Bitcoin in the future: "Could happen."
Market Overview
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Latest Bitcoin news: $BTC buying surged sharply, currently reported at around $64,015; total liquidations over the past 24 hours reached $231 million, mainly short positions.
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The Dow Jones Industrial Average rose 155.84 points, or 0.3%, on July 6, closing at 53,055.91; the S&P 500 gained 54.19 points, or 0.7%, to 7,537.43; the Nasdaq Composite added 288.49 points, or 1.1%, closing at 26,121.16. The Philadelphia Semiconductor Index rebounded 2.2% after two consecutive days of heavy losses, and the S&P 500 Information Technology sector rose 1.3%. Broadcom surged 3.7% after announcing an extension of its custom chip development and supply cooperation agreement with Apple until 2031; Intel and Micron also rose.
(Source: Gate)
- In the Gate BTC/USDT liquidation map, based on the current price of 64,083.50 USDT, if the price drops to around $62,786, cumulative long liquidation amounts exceed $458 million; if the price rises to around $64,689, cumulative short liquidation amounts exceed $148 million. Short liquidation amounts are significantly lower than long liquidation amounts. It is recommended to manage leverage ratios properly to avoid triggering large-scale liquidations during market fluctuations.
(Source: Coinglass)
- Over the past 24 hours, BTC spot inflows were $2.47 billion, outflows were $2.36 billion, resulting in a net outflow of $110 million.
(Source: Coinglass)
- Over the past 24 hours, $BTC, $LAB, $VANRY, $CL, $ZEC and other contracts led in net outflows, presenting trading opportunities.
X KOL Selected Opinions
Phyrex Ni (@Phyrex_Ni): "The most eye-catching event today is that $MSTR sold $BTC. It was both unexpected and reasonable. Unexpectedly, Michael released his 'dot plot' on Sunday, and the market was interpreting whether MSTR had bought more Bitcoin or saved more cash. Then on Monday, news came that they sold Bitcoin. Previously, when Michael sold 32 coins, it was actually a signal to the market."
"This is understandable. I've said before that MSTR is a commercial company, not a charity. It's impossible to only buy and never sell. The reason they didn't sell before was simply that the time wasn't right. Looking at the impact of this sale on the market, it was much less. When the news was announced around 8 PM, Bitcoin dropped from $63,000 to $61,250, a decline of 2.78%."
"Just as the market was preparing to short, with the opening of U.S. stocks, liquidity recovered, directly pushing Bitcoin to nearly $64,000. As of the time of writing, it has actually risen nearly 2%. Although technology stocks and AI also contributed, it's still evident that the market is gradually desensitizing to MSTR. This is a healthy market. MSTR is just one company; selling Bitcoin is not on the secondary market, and the impact on price is more emotional."
"Also, today's U.S. stocks started rising again after Trump's tweet, with tech and semiconductor stocks attempting to recover previous losses. But it doesn't feel very smooth yet. Let's wait and see, as based on recent capital and leverage conditions, things are still unstable."
Today's Outlook
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China's June foreign exchange reserves (in billions of USD), previous value: 3,442.24
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Canada's May trade balance (in billions of CAD), previous value: 2.72
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U.S. May trade balance (in billions of USD), previous value: -55.9
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Turkey hosts NATO summit, until July 8
