The proposed soft fork to temporarily reimpose strict limits on non-financial data in Bitcoin transactions faces an early-August activation deadline, but signaling from miners and nodes remains in the low single digits. Adam Back and Michael Saylor both oppose the plan; Back argues it would only produce a small minority chain, not a network-wide change.
why it mattersA real fight over what Bitcoin block space is for, with near-zero miner buy-in, makes the proposal's failure look more likely than its adoption.
CoinDesk
Fidelity's Jurrien Timmer tracks bitcoin against a power-law model with a lower support line near $58,000; the gap between price and trendline has swung to -56%, a level the model calls the accumulation zone and that lined up with the 2018 and 2022 lows. Timmer stops short of calling a bottom, citing speculative capital rotating into gold and semiconductors.
why it mattersA widely-tracked long-run valuation model flashing its historical bottom signal again gives bulls a concrete level to point to even as short-term sentiment stays weak.
CoinDesk
BTC has spent 307 days trading within the $60,000-$70,000 band, one of the longest stretches bitcoin has ever spent confined to a single $10,000 price range, even as it briefly retested $64,400 this week.
why it mattersExtended sideways chop this deep into a halving cycle is unusual and raises the stakes for whichever direction eventually breaks it.
CoinDesk