Gate Crypto Flash News and Market Updates

South Korea's Kosdaq index fell sharply on July 29, triggering circuit breakers for the second consecutive day in an unprecedented market rout. The index opened at 713.71, up 7.86 points (1.11%) from the previous close, but quickly reversed course amid heavy selling pressure. The Kosdaq subsequently fell below the 700 level as selling accelerated throughout the session.

According to CNBC, Bitcoin traded near the $60,000 level on July 28, representing a 50% decline from its October high of approximately $126,000. The price has fluctuated around this range for nearly two months following a dip below $70,000 in early June. Analysts are divided on near-term direction. Katie Stockton, founder of Fairyled Strategies, noted that Bitcoin's cyclical downtrend appears to have matured and long-term oversold conditions suggest a bottom-formation phase has begun. Oppenheime

According to CNBC on July 28, Bitcoin has been trading in the $60,000 range for nearly two months following a drop below $70,000 in early June. The cryptocurrency is currently down approximately 50% from its October 2025 high of around $126,000.

According to Binance official announcement, Binance will launch three USDT-margined perpetual contracts today (July 29) starting at 17:00 UTC+8. PayPal Holdings (PYPL) USDT perpetual will launch at 17:00, Goldman Sachs Group (GS) USDT perpetual at 17:05, and VanEck Semiconductor ETF (SMH) USDT perpetual at 17:10. All three contracts support up to 20x leverage.

South Korea's Deputy Prime Minister and Finance Minister Koo Yun-cheol apologized on July 29 for shortcomings in the rollout of single-stock leveraged exchange-traded funds (ETFs). In a parliamentary hearing, he announced enhanced safeguards, including raising the minimum deposit requirement to 30 million won and requiring cash-based deposits instead of securities. Koo acknowledged that while government policy aimed to bring overseas-traded leveraged products domestically to reduce investment ri

According to Jin10, the U.S. Federal Reserve will announce its July interest rate decision on Thursday at 2:00 AM, with Fed Chair Jerome Powell holding a press conference at 2:30 AM. Meanwhile, Australia's latest inflation data came in below expectations, easing pressure for rate hikes from the Reserve Bank of Australia. Russia's Foreign Economic Bank also cut its 2026 economic growth forecast to 0.6% from 1% previously.

According to Jin10, Israeli Prime Minister Benjamin Netanyahu met with U.S. President Donald Trump at the White House on July 28. Protests took place in Washington on July 27–28, with demonstrators calling for Netanyahu's arrest and accusing him of war crimes. Jewish protesters also condemned Netanyahu for using Jewish identity to defend what they characterized as genocide in Gaza, killings in the West Bank, and 78 years of occupation in Palestine.

According to E Daily, the Korean won fell to 1,442.6 against the U.S. dollar on July 29, marking its lowest level in five months. The currency dropped approximately 20 won from the previous day's close, with intraday low reaching 1,442.6 won—the weakest since May 7. Bank of Korea Governor Shin Hyun-song confirmed the central bank will maintain its interest rate hiking stance, supporting won strength. The decline was driven by reduced foreign investor selling (around 500 billion won net outflows

According to Standard Chartered, the bank's Chief Strategist Steve Englander stated on July 29 that the Federal Reserve has no urgent need to raise rates at its Wednesday meeting. The Fed will have more economic data—including labor force, CPI, and retail sales figures—to inform its September decision. Fed Chair Powell may face 2-4 dissenting votes on holding rates steady.

According to the Democratic Labor Research Institute on July 29, South Korea's National Pension Service is under pressure to suspend its plan to delegate domestic stock voting rights to asset managers, a move critics characterize as privatization of public shareholder authority. The policy, introduced by the government in March 2026, would transfer voting rights previously exercised directly by the NPS to commissioned asset management firms. Democratic Labor Center policy director Hong Seok-hwan

According to PwC China's official WeChat on July 28, Zhou Xing has been appointed vice chairman of PwC China and continues to serve as head partner for public affairs. With over 30 years of professional service experience, Zhou previously worked at the People's Bank of China's Shenzhen branch before joining PwC's New York and Shanghai offices. She holds a bachelor's degree in finance from Renmin University of China and a master's degree in economics from Tsinghua University's School of Finance.

According to CoinGlass data, Bitcoin ETFs posted net outflows of 3,170 BTC over the past seven days ending July 28, while Ethereum ETFs recorded inflows of 37,959 ETH over the same period. BlackRock's IBIT fund, the largest spot Bitcoin ETF, lost 3,511 BTC and accounted for most of Bitcoin's decline. BlackRock's ETHA fund, meanwhile, drove Ethereum inflows with 37,424 ETH of the category's total gain. The divergent flows signal growing institutional preference for ether, marking Ethereum ETFs' t

According to Coinglass data, on July 29 at 14:02 UTC, an unknown wallet transferred 50 million USDT to Binance.

According to Binance's official announcement, the exchange will halt BNB Smart Chain (BEP20) deposits and withdrawals on July 30 at 13:55 CST for wallet maintenance, with service resuming after approximately one hour. Binance will also halt BNB Smart Chain deposits and withdrawals on August 25 at 10:25 CST to support the network upgrade and hard fork, which is scheduled to occur at 10:30 CST on the same date.

According to Statistics Sweden, the country's second quarter GDP expanded 2.8% year-over-year and 1.4% quarter-over-quarter, marking preliminary Q2 results.

According to Germany's Federal Statistical Office, import prices in June increased 6.1% compared to the same period last year, slightly exceeding market expectations of 6.0%. Month-on-month, import prices declined 0.7% in June, matching the market forecast.

According to GMGN data, CATE led smart money net inflows in the past 24 hours with $6,000, trading at $0.0043 and up 52.1%. The top 5 tokens by smart money inflows over the period were: PVE with $1,000 net inflows (up 1373.3% to $0.0001), OnlyMarms with $829 (up 3661.8% to $0.0002), carcat with $500 (up 19.1% to $0.0001), and KRISPY with $444 (up 34.7% to $0.0001).

According to Yonhapinfomax, Hong Ui-rak, a former Democratic Party legislator, assumed office as the 19th president of Korea Gas Corporation on July 29. Hong graduated from Korea University's Department of Agricultural Economics and previously served as a vice mayor of Daegu and two terms as a National Assembly member, with experience on the National Assembly's Industrial, Trade, Resources and SMEs Committee. His three-year term runs until July 28, 2029. In his inaugural address, Hong outlined t

According to Financial News, SK Hynix reported record second-quarter results on July 29, with operating profit of 60.54 trillion KRW, up 557.2% year-over-year. The operating margin reached 76.3%, surpassing Taiwan's TSMC (60.3%) for three consecutive quarters, driven by HBM and AI server DRAM sales. Despite the strong earnings, the stock fell 10.65% as of early afternoon trading. Analysts attribute the decline to market expectations exceeding actual results, with consensus estimates at 63.66 tri

According to Decrypt, Zcash miner Fortitude completed construction and electrical testing of its 12-megawatt mining facility in Grand Island, Nebraska on July 29, with the site now operational. The facility expands the company's power portfolio to seven locations totaling over 60 megawatts. Fortitude projects mining costs will fall from approximately $70 per ZEC to $40 per ZEC, compared to Zcash's current trading price of around $489. The facility launch precedes Fortitude's planned merger with