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Bitcoin News Roundup for July 23, 2020
With BTC finally breaking out and ETH up even more, CoinDesk's Markets Daily is back with another crypto news roundup.
Updated Sep 14, 2021, 9:34 a.m. Published Jul 23, 2020, 4:00 p.m.
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With bitcoin finally breaking out and ether up even more, CoinDesk's Markets Daily is back with another crypto news roundup.
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This episode is sponsored by Bitstamp and Crypto.com.
Today's Bitcoin News:
3 Reasons Bitcoin's Price Could Soon Rise to $10K
After a rise over $9,500 on Wednesday, bitcoin looks set to climb toward the psychological price hurdle of $10,000. Here are three reasons why.
Banks in US Can Now Offer Crypto Custody Services, Regulator Says
U.S. regulators have cleared the way for national banks to provide cryptocurrency custody services on behalf of customers.
Senate Hearing Sees Digital Dollar as a Tool for Economic Supremacy
The digital dollar again appeared during a Senate hearing. However, it wasn't the focus of the hearing but as just another tool that can be used to maintain U.S. hegemony.
Apple Co-Founder Steve Wozniak Sues YouTube Over Bitcoin Giveaway Scams
Wozniak is among 18 plaintiffs suing the Google-owned video giant for allowing crypto giveaway scams using his likeness to flourish on the platform.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
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