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Bitcoin trades near $64,300 following a 1.2% dip over the last 24 hours. The market displays range-bound activity as selling pressure at higher price targets caps upward momentum. Institutional capital flows turned negative after five days of inflows, while public mining companies continue selling Bitcoin reserves to fund power infrastructure for artificial intelligence workloads. On the network front, a failed soft fork attempt ended without consensus, and federal regulators moved forward with landmark banking and asset classification frameworks. Long-term fundamentals remain anchored by institutional adoption and regulatory clarity, even as near-term price movement faces overhead resistance.

Price Analysis: Support Floor Tested

Bitcoin entered the session at $65,100 before reaching an intraday peak of $65,180. Sellers stepped in near the resistance level, driving price to an intraday low of $63,740. The asset recovered to $64,300 by this morning, marking a 1.2% daily decline.

Key Resistance: The $65,500 zone remains a firm selling boundary for long-term holders and miners.
Key Support: Price broke below the $64,400 support level that held during prior consolidation.
Market Structure: Selling activity at $65,500 continues to limit price discovery, holding the market within a defined range between $63,700 and $65,500.
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Institutional Flows: ETF Inflow Streak Ends

Spot Bitcoin exchange-traded funds registered net capital outflows of $144.6 million on Monday, August 10. This ended a five-session stretch of consecutive daily inflows.

In product developments, BlackRock Canada launched the iShares Equity + Bitcoin ETF Portfolio (IBQT) on the Toronto Stock Exchange on August 10.

Asset Allocation: IBQT holds 97% global equities and 3% Bitcoin.
Fee Structure: The fund carries a 0.22% management fee.
Market Impact: Products like IBQT offer investors traditional equity exposure with a small allocation to Bitcoin, providing regulated market access through standard investment accounts.

Mining Economics

Mining firms face reduced profitability, which has prompted a shift in capital allocation toward High-Performance Computing (HPC) and Artificial Intelligence (AI) data centers. To fund this transition, some corporate miners are selling Bitcoin treasury reserves, adding supply to the market.

Keel Infrastructure published its Q2 2026 earnings report on August 10, detailing the financial mechanics of this operational pivot:

Operating Results: Keel reported an operating loss of $140.8 million for Q2 2026, compared to $10.8 million in operating income in Q2 2025.
Asset Write-Downs: The loss included $63 million in depreciation from shutting down mining rigs at its Panther Creek and Scrubgrass sites, along with closing operations in Moses Lake.
Treasury Liquidations: Keel sold 1,085 BTC for $75 million in cash between April 1 and August 7, 2026. The firm holds 1,861 BTC and plans to sell the remaining balance by the end of 2026.
Capital Allocation: Keel raised $458 million through convertible senior notes. The company signed an agreement with Hydro-Sherbrooke to acquire land and 96 MW of power capacity for a Quebec data center.

Network Governance: BIP-110 Soft Fork Fails

As previously reported, the proposed soft fork designed to limit non-transactional data on the Bitcoin blockchain failed to achieve consensus, leading to developer administrative changes.

BIP-110, titled the “Reduced Data Temporary Softfork,” sought to restrict data protocols like Ordinals and Inscriptions from block space.

Support Threshold: The proposal required 55% miner support across a 2,016-block window. Support reached 2.53%, originating primarily from a single pool, Ocean.
Chain Split: Nodes running BIP-110 software rejected main-chain blocks lacking the signaling flag at block 961,632. This created a minority chain that produced two blocks before halting at block 961,633.
Current Status: The minority chain trails the main Bitcoin network by 326 blocks. The difficulty adjustment algorithm estimates at least 6.3 years (some estimate 25 years) for the minority chain to recalibrate at its current hash rate.
Developer Action: On August 10, BIP repository editors removed lead author Luke Dashjr from editorial and administrative roles, citing procedural violations and conflicts of interest.
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Regulatory: Banking Integrations and Asset Classifications

Federal regulatory bodies advanced rules and approvals to integrate digital assets into standard banking and exchange frameworks.

FDIC Approval for Augustus National Bank

On August 10, the Federal Deposit Insurance Corporation approved deposit insurance for Augustus National Bank, a Dallas-based institution focused on digital asset integration.

The bank had received conditional approval from the Office of the Comptroller of the Currency.
Augustus will operate its Juno Moneta subsidiary to provide stablecoin issuance, custody, and redemption under the GENIUS Act.

SEC Rules and Project Crypto Taxonomy

The Securities and Exchange Commission scheduled an Open Meeting for August 14, 2026, under the Sunshine Act Notice to review “Regulation Crypto,” a proposed offering framework for investment contracts.

This rule builds on “Project Crypto,” a joint effort between the SEC and Commodity Futures Trading Commission that establishes five asset categories:

Digital Commodities: Defines 16 assets—including Bitcoin, Ether, and Solana—as functional cryptographic commodities exempt from securities laws.
Digital Collectibles: Categorizes non-fungible tokens and memecoins, noting that fractional ownership structures trigger investment contract status under the Howey test.
Digital tools: Utility tokens, access keys, or functional mechanism tokens used to interact with a specific protocol or application.
Stablecoins: Tokens designed to maintain a stable value pegged to fiat currency or other reference assets, subject to varying oversight based on design.
Digital securities: Tokens that by definition meet the legal criteria of a security, representing formal ownership interests, debt, or profit-sharing in an enterprise.

Exchange Derivatives Architecture

Nasdaq ISE, LLC submitted filing SR-ISE-2026-42 with the SEC on August 10 to amend Options 4, Section 314. The change establishes criteria for listing options on Commodity-Based Trusts that hold digital commodities, aligning exchange operations with the joint SEC-CFTC taxonomy.

What to Look For Next

Investors should monitor several upcoming key dates and structural indicators:

August 14, 2026: SEC Open Meeting to discuss proposed “Regulation Crypto” rules.
$65,500 Price Level: Spot price interaction with resistance to determine whether range-bound trading persists.
ETF Flow Reversals: Daily ETF inflow and outflow totals following the $144.6 million outflow on August 10.
Consumer Price Index: Inflation data scheduled to be released Wednesday morning.
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Key References

Bitcoin Backs Down from $65k As Gold Breakout Takes Over, https://www.forex.com/en/news-and-analysis/bitcoin-backs-down-from-65k-as-gold-breakout-takes-over/

#blackrockcanadalaunchesbitcoinlinkedetf blackrock canada | ALPHA_012 on Binance Square, https://www.binance.com/en/square/post/354441481291026

RBC iShares Launches Two New iShares ETFs on the TSX | Quiver Quantitative, https://www.quiverquant.com/news/RBC+iShares+Launches+Two+New+iShares+ETFs+on+the+TSX

Keel (KEEL) Q2 2026 Earnings Call Transcript, https://www.fool.com/earnings/call-transcripts/2026/08/10/keel-keel-q2-2026-earnings-call-transcript/

Keel Infrastructure Q2 revenue falls 50% to $30 million | Quiver Quantitative, https://www.quiverquant.com/news/Keel+Infrastructure+Q2+revenue+falls+50%25+to+%2430+million

Bitcoin’s BIP-110 Fork 326 Blocks Behind Main Chain, Fix Estimated 6.3 Years Away, https://www.kucoin.com/news/flash/bitcoin-s-bip-110-fork-326-blocks-behind-main-chain-fix-estimated-6-3-years-away

Sunshine Act Notice - SEC.gov, https://www.sec.gov/newsroom/meetings-events/sunshine-act-notice-open-081426

Bitcoin’s BIP Editors Remove Luke Dashjr Two Days After BIP-110 Fork Stalled | The Defiant, https://thedefiant.io/news/blockchains/bitcoin-bip-editors-remove-luke-dashjr-after-bip-110-fork-stalled

FDIC Lets Augustus Pair Stablecoins With Insured Deposits - PYMNTS.com, https://www.pymnts.com/legal/2026/fdics-augustus-approval-opens-wider-door-to-digital-asset-banking/

SECURITIES AND EXCHANGE COMMISSION [Release No. 34-106067; File No. SR-ISE-2026-42] Self-Regulatory Organizations - SEC.gov, https://www.sec.gov/files/rules/sro/ise/2026/34-106067.pdf

What Is BIP-110? Bitcoin’s Data-Limit Proposal and Why It Failed | Simple Mining Insights, https://www.simplemining.io/insights/post/bip-110

Bitcoin BIP-110 Soft Fork Stalls With Low Miner Support: What Happens Next?, https://www.kucoin.com/blog/bitcoin-bip-110-soft-fork-stalls

The Bitcoin community is divided—understanding the new Bitcoin scaling debate sparked by BIP-110 - 富途资讯, https://news.futunn.com/en/post/77464790/the-bitcoin-community-is-divided-understanding-the-new-bitcoin-scaling

Bitcoin Community Is Fuming! One Article Explains the BIP-110-Driven New Battle Over Scaling | Foresight_News on Binance Square, https://www.binance.com/en/square/post/354416157625634

Bitcoin’s BIP-110 Fork 326 Blocks Behind Main Chain, Fix Estimated 6.3 Years Away, https://www.kucoin.com/news/flash/bitcoin-s-bip-110-fork-326-blocks-behind-main-chain-fix-estimated-6-3-years-away

Bitcoin community splits over BIP-110; chain fork lasts only one block | KuCoin, https://www.kucoin.com/news/flash/bitcoin-community-splits-over-bip-110-chain-fork-lasts-only-one-block

BIP-110 Fork Stalls At Two Blocks As Bitcoin Miners Refuse To Follow, https://bitcoinmagazine.com/news/bip110-stalls-bitcoin-miners-do-not-follow

Bitcoin’s BIP-110 fork is 300 blocks behind BTC and six years from fixing itself, https://lcx.com/en/cryptonews/bitcoins-bip-110-fork-is-300-blocks-behind-btc-and-six-years-from-fixing-itself