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After several failed attempts to breach the $110,000 price mark over the past week, leading coin Bitcoin may be set for a decisive breakout. 

On-chain data shows coin accumulation is quietly intensifying, and the bullish signals are beginning to align.

Bitcoin Supply Tightens as Miners Hold and Velocity Hits 3-Year Low

BTC’s Velocity has slowly declined since July started, indicating that the coin is entering a low-supply environment. On July 8, the on-chain metric, which measures how frequently BTC changes hands over a given period, closed at a three-year low of 12.68.

When an asset’s velocity falls, fewer coins are moving through the network, indicating that holders are choosing to sit tight rather than trade or sell. 

This is a bullish signal, as it reflects growing conviction among investors and a gradual tightening of liquid supply, which can drive prices higher if demand increases.

In addition, Bitcoin’s Miner Reserve has climbed steadily over the past week. Data from CryptoQuant shows that miners have added 1,782 BTC to their holdings in the last seven days, pushing the total Miner Reserve to 1.81 million coins at press time.

The rise in BTC’s Miner Reserve since the beginning of July suggests a shift in miner behavior toward holding rather than selling as the market presses harder for a climb rally above $110,000. 

Bitcoin Could Surge as Traders Zero In on $110,000 Liquidity Zone

An assessment of BTC’s liquidation heatmap shows a notable concentration of liquidity around the $110,473 price zone. 

Liquidation heatmaps identify price levels where clusters of leveraged positions are likely to be liquidated. These maps highlight areas of high liquidity, often color-coded to show intensity, with brighter zones (yellow) representing larger liquidation potential.

Usually, these cluster zones act as magnets for price action, as the market tends to move toward these areas to trigger liquidations and open fresh positions.

Therefore, for BTC, the cluster of a high volume of liquidity at the $110,473 price level indicates a strong trader interest in buying or closing short positions at that price. It creates room for a potential surge past $110,000 in the near term. 

However, this will not happen if selling pressure gains momentum and new demand fails to enter the BTC market. In this case, the coin’s price could fall toward $107,745. 

BTC’s price could breach support and slide toward $104,709 if buying pressure remains weak.

The post Bitcoin Gears Up for a Supply Squeeze as Miners and HODLers Clamp Down appeared first on BeInCrypto.

Coinbase, the largest crypto exchange in the US, has successfully evaded a supply chain attack that could have compromised its open-source infrastructure.

On March 23, Yu Jian, founder of blockchain security firm SlowMist, flagged the incident in a post on X, referencing a report from Unit 42, the threat intelligence division of Palo Alto Networks.

How Coinbase Stopped a Major Cyber Attack

According to Unit 42, the attacker targeted ‘agentkit’, an open-source toolkit managed by Coinbase that supports blockchain-based AI agents.

The threat actor forked agentkit and onchainkit repositories on GitHub, inserting malicious code intended to exploit the continuous integration pipeline. The suspicious activity was first detected on March 14, 2025.

“The payload was focused on exploiting the public CI/CD flow of one of their open source projects – agentkit, probably with the purpose of leveraging it for further compromises,” Unit 42 reported.

The attacker exploited GitHub’s “write-all” permissions, which allowed the injection of harmful code into the project’s automated workflow. This method could have enabled access to sensitive data and created a path for broader compromises.

However, Unit 42 reported that the payload collected sensitive information. It did not contain advanced malicious tools like remote code execution or reverse shell exploits.

Meanwhile, Coinbase responded quickly, collaborating with security experts to isolate the threat and apply necessary mitigations. This rapid action helped the company avoid deeper infiltration and prevented potential damage to its infrastructure.

The stakes were high considering Coinbase’s standing as the largest crypto exchange in the US and a key custodian for spot Bitcoin ETFs.

A breach of this nature could have caused major disruption across the crypto industry, especially after Bybit’s recent $1.4 billion security incident.

Despite the failed attempt, the attacker has since shifted focus to a larger campaign now drawing global attention.

In light of this, SlowMist founder advised developers using GitHub Actions—especially those working with tj-actions or reviewdog—to audit their systems and confirm that no secrets have been exposed.

“If your company uses reviewdog or tj-actions, do a thorough self-examination,” Yu Jian stated on X.

This incident highlights the growing importance of securing open-source tools as the crypto ecosystem expands. Data from DeFillama shows that the crypto industry has recorded exploits of more than $1.5 billion this year.

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