Bitcoin Market Brief here - your go-to crypto source.

What’s on the menu today:

• Tether Just Flashed a Signal Crypto Traders Should Watch

• Trump’s Crypto Business Just Got VERY Complicated

• Tron USDT supply hits $87.9B as transfers reach $2.1T in Q2

Before we get started... a crypto joke

A crypto investor says:

“I only invest in projects I understand.”

Friend:

“So you understand this one?”

Investor:

“Absolutely.”

Friend:

“What does it do?”

Investor:

“I have no idea yet, but I understand the logo.” 😂

Tether Just Flashed a Signal Crypto Traders Should Watch

Something interesting is happening with Tether…

And it could actually be a good sign for Bitcoin.

USDT has lost around $4B in market cap over the past two months.

That sounds scary.

But historically, this kind of contraction has often happened toward the END of major crypto downturns.

Here’s what we’re seeing:

1/ USDT liquidity is disappearing

Tether’s 60-day market-cap change recently hit around -$4.88B.

At its worst, the contraction reached -$5.72B on July 13.

Why does this matter?

Stablecoins are basically crypto’s dry powder.

When USDT supply shrinks → there’s less liquidity available → investors become more cautious → selling pressure can intensify.

But there’s a twist…

2/ The biggest contractions have happened near bear-market bottoms

CryptoQuant found that the deepest USDT contractions have historically appeared during the final stages of major market downturns.

In other words...

A huge drop in stablecoin liquidity can sometimes mean the selling is getting CLOSE to exhaustion.

And we may be seeing another clue.

3/ Bitcoin is showing a 2022-style RSI divergence

Bitcoin’s price is making lower lows...

While its weekly RSI is making higher lows.

That’s called a bullish divergence.

And it also appeared around the end of the 2022 bear market.

So putting it all together:

USDT liquidity is contracting hard → historically associated with late-stage bear markets → Bitcoin is showing a bullish RSI divergence.

Could we still see another leg lower?

Absolutely.

But if history repeats...

The worst of the selling might be getting closer to the rearview mirror.

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Trump's Crypto Business Just Got VERY Complicated

Something VERY interesting just came out about Trump’s crypto business…

And it involves a $100M WLFI token purchase.

Here’s where things get weird.

1/ Someone bought $100M of WLFI

Back in June 2025, an entity called Aqua 1 bought around $100 million worth of World Liberty Financial’s token.

The money ultimately benefited members of the Trump family and World Liberty co-founder Zach Witkoff’s family.

Pretty big investment.

But there was a problem…

2/ The person behind Aqua 1 was reportedly Guren Zhou

Also known as Bobby.

According to the report, Zhou was previously arrested in the UK in 2021 over suspected money laundering.

He had also launched a crypto business that later collapsed.

So naturally...

People started asking:

Where did the $100M come from?

3/ And the identity was already a mystery

There had been speculation that Dave Lee was behind Aqua 1.

Aqua 1 later confirmed Lee had joined the company as co-founder and CEO.

But it never publicly clarified whether he was the person behind the money used to buy WLFI.

Now the New York Times report points to Zhou.

4/ And here’s why this matters

World Liberty Financial is closely connected to the Trump family.

So when a foreign-based entity reportedly linked to someone previously investigated for money laundering puts $100M into the project...

Questions about where the money came from are going to follow.

And this isn’t even the biggest foreign investment in World Liberty.

Tron founder Justin Sun reportedly invested $45M.

An Abu Dhabi-backed entity reportedly holds a $500M stake.

The deeper you look...

The more complicated the story gets.

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The Market Radar

Tron USDT supply hits $87.9B as transfers reach $2.1T in Q2

Bitcoin Gets a Brief Reprieve as Shutdown Risk Moves to December

XRP Trust Shares and Holdings Plunge in First-Half Filing

Russia proposes exchange trading of Bitcoin, Ether and Tether’s USDT

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.