Binance’s Surging Net Taker Volume Signals Bitcoin’s Record Rally to $118K

Bitcoin has surged to an unprecedented $118,000, driven by aggressive buying pressure and a notable spike in Binance's Net Taker Volume, which exceeded $200 million for the first time since February 2025. This rally underscores robust spot demand, but derivatives data suggests potential volatility ahead. Additionally, miner distribution signals caution as the MPI index skyrocketed by 153%, historically a warning sign when paired with overheated price action. The NVT ratio's deviation further hints at possible market corrections. As of July 13, 2025, the cryptocurrency market remains highly dynamic, with Binance playing a pivotal role in Bitcoin's latest price movement.

Bitcoin's Next Move Hinges on Key Market Forces as BTC Hits $118K

Bitcoin surged to a record $118,000 amid aggressive buying pressure, with Binance's Net Taker Volume spiking past $200 million for the first time since February 2025. The rally reflects strong spot demand, but derivatives data warns of potential turbulence ahead.

Miners show signs of distribution as the MPI index jumps 153%—a historical caution signal when paired with overheated price action. Meanwhile, the NVT ratio's decline suggests network utility growth may outpace speculative trading, offering fundamental support for the uptrend.

Market structure appears fragile despite bullish momentum. Clustered short liquidations NEAR all-time highs create fuel for both continuation rallies and violent reversals. The coming days will test whether institutional flows can absorb potential miner sell-side pressure.

Altcoins See Strong Outflows from Binance, Signaling Accumulation

Binance is experiencing significant outflows across multiple altcoins, according to CryptoQuant's latest heatmap data. Ethereum (ETH), chainlink (LINK), Shiba Inu (SHIB), Dogecoin (DOGE), and Aave (AAVE) are among the tokens showing deep-red netflows, indicating more withdrawals than deposits.

Movement of assets off exchanges often reflects long-term holding strategies rather than imminent selling pressure. "The Binance netflow heatmap reveals an extremely bullish pattern," CryptoQuant noted. "Red-hot outflows suggest accumulation by seasoned investors."

Enjin (ENJ), Fetch.ai (FET), and Aavegotchi (GHST) also appear in the outflow snapshot. When tokens migrate from hot wallets to private storage, it typically precedes price appreciation cycles as supply tightens.

CZ Denies Allegations of $2B USD1 Stablecoin Deal Linked to Trump

Binance founder Changpeng Zhao (CZ) has vehemently denied claims that his 2023 presidential pardon request was connected to a purported $2 billion stablecoin arrangement with Trump-affiliated World Liberty Financial. The allegations, first reported by Bloomberg, suggest Binance developed the smart contract for WLFI's USD1 stablecoin—now the fifth-largest with a $2.2B market cap—and promoted it to its 275M users.

Abu Dhabi's MGX reportedly channeled the $2B investment through USD1 instead of rival stablecoins, though no evidence confirms payment to Binance. CZ acknowledged the pardon request but disputed the timeline, calling the connection "categorically false." The controversy resurfaces his 2023 U.S. legal troubles, which resulted in $4.3B in fines for Binance and a four-month prison term for CZ.

Ethereum Prices Surge Amid Bullish Macro Data and Exchange Reserve Declines

Ethereum rallied sharply to $2,967 following aggressive short liquidations triggered by stronger-than-expected U.S. jobless claims data. The surprise macroeconomic resilience fueled Leveraged buying on Binance, pushing open interest near $7 billion as traders positioned for further upside.

Exchange reserves for ETH dropped 2.03% to $56 billion, signaling reduced sell pressure. Whale accumulation and bullish derivatives positioning suggest institutional confidence, though overbought conditions may create resistance near the psychologically important $3,000 level.

MoonPay Executives Fall Victim to $250K Crypto Scam

Two senior executives at MoonPay, a leading cryptocurrency payments firm, were allegedly defrauded of $250,300 in a sophisticated online scam. According to a US Department of Justice filing, the victims—identified as Ivan Soto-Wright, MoonPay's CEO and co-founder, and CFO Mouna Ammari Siala—were tricked into transferring funds to an account they believed belonged to real estate developer Steve Witkoff.

The scammed funds, comprising 40,350 USDT, were traced to a Binance-linked wallet controlled by a Nigerian individual. The case highlights how even industry veterans with access to advanced security measures remain vulnerable to social engineering attacks.