Today’s Bitcoin rundown is a little calmer, but that doesn’t mean it isn’t information-rich. The market now knows just how aggressively the whales bought the dip, how hard the crash hit the short-term holders of BTC, and that the largest wealth manager in the US, Morgan Stanley, will allow its advisers to pitch spot Bitcoin ETFs. Elsewhere, the SEC versus Ripple case may finally be drawing to a close as Judge Analisa Torres orders Ripple to pay $125 million — an amount seen as a victory by some, and not least in the market, as XRP pumped 26% in a matter of hours. Finally, Robinhood’s move to become a force in crypto is working, and it has the receipts to prove it.

Further reading:

• Bitcoin whale transactions hit highest level in 4 months amid crypto dip
• Bitcoin speculators sit on 93% unrealized losses after $365M ‘wipeout’
• Morgan Stanley advisers can officially pitch Bitcoin ETFs
• XRP rockets 26% as Ripple execs hail $125M penalty as ‘victory’
• Robinhood Q2 crypto revenue surges 161% on rising trading volume

So, grab yourself a coffee, and let’s get into it!

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