What Happened in Bitcoin Today? FOMC Minutes Test a Rally Built on SpaceX and Network Demand

Today's minutes cover the Fed's June 16–17 meeting where the Fed always releases minutes several weeks after the meeting itself, so this is a look back at what the committee actually debated internally, not a new decision. The public statement from that meeting sounded dovish, but today's minutes reveal whether the internal debate was more hawkish than the statement let 

On July 8, 2026, Bitcoin sits at $62,598, down just 0.02% on the day, essentially flat, and waiting on one thing: this afternoon's FOMC minutes release at 2pm ET, which markets now expect to reveal a more hawkish internal Fed debate than last week's public statement suggested. That's the real story today, not the price. Bitcoin is now 50.4% below its October 2025 peak of $126,156, and the question is whether the demand quietly building underneath it can survive a macro surprise.

Why Today's FOMC Minutes Could Make or Break the Rally

The dovish repricing that drove last week's relief rally is reversing, and today's minutes reveal how deep that reversal runs.

• Rate-cut odds collapsing: The probability of a 2026 rate cut has compressed to just 21%, per Crypto Briefing, reflecting market expectations of steadier economic conditions than the dovish case assumed.

• A near-even split: The June meeting ended in a hold, but only barely — nine of 18 members wanted another hike this year, eight wanted to stay put, and just one wanted a cut.

• Why it matters today: That near-even split is why today's minutes carry weight — they reveal which camp is winning the internal argument.

• The two outcomes: If the hawkish tone traces back to a handful of vocal members, the relief rally likely continues toward $65,000–$68,000; if the members reflect broader committee sentiment, $62,000 support comes under real pressure, with $60,500 as the next flush zone.

On ETF flows: CoinDesk confirmed a 10-day outflow streak ended Thursday with $221.7M in inflows, and SolanaWire separately reported $265.69M flowing in July 7, the highest daily inflow in over a month.

Structural Buyers Are Showing Up Regardless of What the Fed Says

SpaceX just joined the Nasdaq-100, and it happens to hold about 18,712 Bitcoin on its balance sheet. J.P. Morgan estimates the inclusion could generate roughly $4.3 billion in passive inflows. Automatic buying from index funds and ETFs that are now required to hold SpaceX shares simply because it's part of the benchmark, regardless of what any individual fund manager thinks about the stock.

• Rules-based demand: This buying is driven by index rules, not investor conviction. Money showing up because the mechanics require it, not because sentiment calls for it.

• Different from a narrative pump: That distinguishes it from a bullish story or a hyped announcement, where buying follows belief rather than mandate.

• Why it's more durable: Demand triggered by rules doesn't unwind when sentiment shifts the way narrative-driven buying can.

Is Bitcoin Network Activity Really at a 17-Year High?

Crypto Briefing published a piece on July 7, 2026 titled "Bitcoin sees highest transaction activity in 17 years, market eyes $67,500 in July."

Network activity spiking while price sits well off its highs isn't necessarily random; it's a shape that's shown up before. The Coinjuice ebook breaks down how to actually read that shape on a chart, one repeatable pattern at a time, so you're not just watching price and guessing, you're recognizing structure. No leverage required to trade with conviction.

Coinjuice Lens: Market Structure

Today's transaction-count and ETF-streak discrepancies aren't isolated; they're a small-scale version of something that shows up constantly in crypto: headline numbers vary by source, methodology, and reporting window, and the loudest claim isn't always the most accurate one. 

Cross-checking before trading on any single figure is the discipline that matters more than the figure itself. The same discipline applies to chart reading. A spiking metric next to a price stuck below its highs isn't a new phenomenon; it's a shape that's shown up before, across cycles. 

The Coinjuice ebook walks through how to actually read that shape, one repeatable pattern at a time, so you're recognizing structure instead of reacting to a headline. No leverage required to trade with conviction.

News Behind Today’s Pulse

• U.S.-listed bitcoin ETFs saw $221.7 million in inflows on Thursday, their largest daily intake in two months, ending a 10-day streak of outflows — CoinDesk, July 3, 2026. Primary confirmation for the $221.7M inflow and the 10-day streak figure. 

• Bitcoin and Ether ETFs Experience Substantial Inflows — SolanaWire, July 7, 2026. Corroborates the $265.69M inflow, the highest daily total in over a month, extending momentum into July 7. 

• Elon Musk's SpaceX is about to trigger a $4.3 billion buying frenzy — The Independent, July 7, 2026. Source for the 18,712 BTC holding and J.P. Morgan's $4.3B passive-inflow estimate. 

• Bitcoin sees highest transaction activity in 17 years, market eyes $67,500 in July — Crypto Briefing, July 7, 2026. Source for the network-activity claim, flagged above as unresolved against a conflicting single-day count. 

• Tether brings USDT back to Bitcoin with RGB protocol rollout led by UTEXO — Crypto Briefing, July 7, 2026. Confirms the UTEXO partnership and expected launch within weeks. 

BTC $62,598.55 (-0.02% 24h) · Market cap $1.25T · 50.4% below October 2025 ATH of $126,155.58 · Fed 2026 rate-cut probability 21% · June FOMC vote split 9-8-1 (hike/hold/cut) · SpaceX Bitcoin holdings ~18,712 BTC. Price and ATH data: DefiLlama. Macro, ETF flow, and network-activity figures: Crypto Briefing, CoinDesk, SolanaWire, The Independent, as cited; the June 23 transaction figure and today's "17-year high" claim remain an unresolved cross-source conflict.