In today’s crypto news (July 8), Bitcoin has seen a slight retracement, still sitting comfortably above $60,000, but down -1.1% in the last 24 hours and trading around $62,600. Liquidations have slowed since yesterday, dropping from over $532 million to $345 million, with over $240 million coming from long positions, highlighting that overly optimistic bulls have been punished by this pullback.
Yesterday saw a second straight day of positive ETF flows for Bitcoin, a move that is helping the market in its recent rally. Over $265 million worth of BTC was purchased via ETFs yesterday, with over $200 million coming from BlackRock’s IBIT after selling almost $10 billion over the past ten sessions.
While the majority of tokens saw a slight retracement overnight, Zcash (ZEC) and Monero (XMR) are two of the most notable projects in the green today, with privacy-focused projects defying expectations, up +5.5% and +2%, respectively.
The Fear & Greed Index briefly left the “Extreme Fear” category yesterday, climbing to 27/100; however, this slight decline across all markets led to a return to 20/100. Until Bitcoin significantly rises above $65,000, the index will likely continue to swing around these levels.
Crypto News Today: Coinbase Bitcoin Premium Records Longest Negative Streak at 50 Days
The Coinbase Bitcoin Premium Index has remained below zero for 50 consecutive days, marking the longest negative streak since the metric’s introduction. According to analysts, this trend could indicate continued selling pressure from US institutional investors.
According to CoinGlass, the index remains in negative territory since May 19, 2026. Its latest reading stands at -0.0742%. The metric measures the difference between the price of Bitcoin on Coinbase and its average price on global markets.
As Coinbase is widely considered one of the leading trading platforms for US institutional investors, a negative value generally indicates greater selling pressure in the US than in other regions.
Since the beginning of May, the index has only gone above zero once. The previous record was a 40-day negative streak that lasted from January 16 to February 24, 2026.
Analysts noted that prolonged weakness in the Coinbase Bitcoin Premium Index coincided with persistent outflows from U.S. spot Bitcoin ETFs.
According to Alex Thorn, head of research at Galaxy Digital, net outflows from these funds have reached around $6 billion since the start of the year.
Thorn added that total assets held by U.S. spot Bitcoin ETFs have fallen to around $74.4 billion, from more than $150 billion at their peak. According to the data, June was one of the weakest months on record for ETF flows.
COINBASE BTC PREMIUM INDEX IN NEGATIVE TERRITORY FOR A STRAIGHT 50-DAY RECORD!
The index has remained negative since May 19, the longest streak on record.
This means that Bitcoin is cheaper on Coinbase than worldwide, indicating weaker US institutional demand at present. pic.twitter.com/wXkjhMseSl
– Crypto Banter (@crypto_banter) July 7, 2026
COINBASE BTC PREMIUM INDEX IN NEGATIVE TERRITORY FOR A STRAIGHT 50-DAY RECORD!EXCLUSIVE: Earn $10 USDC via Binance Signup
European Parliament seeks to further tighten crypto regulations after MiCA launch
In other crypto news today, European Union lawmakers adopted a position paper on digital assets that outlines how the EU should develop regulations for the cryptocurrency market following the implementation of the Crypto Asset Markets (MiCA) framework.
The European Commission is asked to assess whether areas such as decentralized finance (DeFi), crypto lending and borrowing, staking and non-fungible tokens (NFTs) should be more explicitly included in the EU regulatory framework.
According to the European Parliament’s website, lawmakers also stressed the need for consistent application of MiCA across all member states, warning that separate national regulations could fragment the EU’s single market for digital assets.
The approval of the report entitled “Digital assets: challenges for the competitiveness and integrity of the European Union financial system” establishes the official policy position of the European Parliament on digital assets. However, the document does not amend MiCA or impose new legal obligations on crypto companies.
Since July 1, the transitional period for MiCA has ended. From this date, crypto-asset service providers that fall under this framework must obtain European or national authorization to continue operating within the European Union.
European Parliament wants DeFi, staking and NFTs included in the rules
Lawmakers have just voted. The European Parliament (@Europarl_EN) adopted its official position on Tuesday, asking the Commission to study whether DeFi, staking, crypto lending and NFTs should fall under MiCA.
Nothing new… pic.twitter.com/N2L7m3JJXr
– BSCN (@BSCNews) July 7, 2026
The post Crypto News Today (July 8): BTC Falls Back to $62,000, Coinbase Premium Hits Record Highs and EU Considers Even Tighter Crypto Regulations appeared first on 99Bitcoins.
