<?xml version="1.0" encoding="utf-8"?> <rss version="2.0"> <channel> <title>Bitcoin Today - Bitcoin News Curated and Powered by AI</title> <link>https://www.bitcointoday.app</link> <description>Get daily updates on Bitcoin's price, market trends, analysis, and breaking news curated and powered by AI - all digestible in minutes. Make BitcoinToday.app your one-stop shop for staying informed in the fast-paced world of Bitcoin.</description> <lastBuildDate>Fri, 12 Jul 2024 07:17:36 GMT</lastBuildDate> <docs>https://validator.w3.org/feed/docs/rss2.html</docs> <generator>https://github.com/jpmonette/feed</generator> <language>en</language> <image> <title>Bitcoin Today - Bitcoin News Curated and Powered by AI</title> <url>https://www.bitcointoday.app/images/logo-512.png</url> <link>https://www.bitcointoday.app</link> </image> <copyright>All rights reserved 2024, BitcoinToday.app</copyright> <category>Bitcoin News</category> <item> <title><![CDATA[Bitcoin Bulls Stumble Again: Will This Be the End of the Bull Run?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bulls-stumble-again-will-this-be-the-end-of-the-bull-run</link> <guid>bitcoin-bulls-stumble-again-will-this-be-the-end-of-the-bull-run</guid> <pubDate>Fri, 12 Jul 2024 07:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin Bulls Stumble Again: Is This the End of the Bull Run? Despite positive US inflation news, Bitcoin failed to break through key resistance on Thursday, continuing its downward trend since early June. While the recent sell-off might continue, there are reasons for optimism. **The Sell-Off Continues** The recent sell-off started in early June, and the latest bull failure on Thursday, despite positive economic news, suggests more weakness may be ahead. A similar trendline rejection on July 1 proved costly, deepening the sell-off. **Reasons for Hope** However, all is not lost for Bitcoin bulls. There are several reasons for optimism: * **MACD Indicator:** The daily chart MACD histogram is showing signs of a bullish shift in momentum. This indicator is used to gauge trend strength and changes. * **Supply Overhang:** The recent supply overhang from Germany's Saxony state, which caused the price drop earlier this month, is nearly exhausted. * **FTX Repayments:** The potential of $16.3 billion in FTX repayments over the next months could translate into buying pressure. * **Interest Rate Cut:** The potential for an interest rate cut in September could benefit risk assets, including Bitcoin. **Different Selling Profiles** The potential selling by Mt. Gox's creditors, who are scheduled to receive 140,000 BTC, might have a different profile than Saxony's sales. The flow of coins might be directed differently, and the selling might be more gradual. **The Future of Bitcoin** The recent Bitcoin sell-off highlights the volatility of the crypto market. However, the potential for long-term growth remains. The positive stance toward crypto on both sides of the aisle and the potential for an interest rate cut in September could ultimately push Bitcoin higher. The future of Bitcoin remains uncertain, but the bulls are not giving up just yet.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketSentiment</category> <category>BullRun</category> <category>Sell-off</category> <enclosure url="https://www.coindesk.com/resizer/wjRKu_aaJiCuAH0jkuVJd0t7s_U=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NOV3I4YSQJGPVBUTKLDPJQC4WQ.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin to $100,000 This Year? Experts Say It's Possible! 🤯]]></title> <link>https://www.bitcointoday.app/article/bitcoin-to-100-000-this-year-experts-say-its-possible-</link> <guid>bitcoin-to-100-000-this-year-experts-say-its-possible-</guid> <pubDate>Fri, 12 Jul 2024 05:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin on the Rise: Why $100,000 Could be a Reality in 2023 Despite the recent dip in the crypto market, several experts believe that Bitcoin could reach a price of $100,000 by the end of the year. This bullish sentiment is fueled by a confluence of positive factors, including: * **Cooling US Inflation:** A decline in inflation could lead to increased risk appetite among investors, potentially benefiting Bitcoin. * **Growing Institutional Adoption:** More institutional investors are embracing Bitcoin as a hedge against inflation and a valuable addition to their portfolios. * **Technological Advancements:** Continued development in the Bitcoin ecosystem, such as the Lightning Network, could enhance its scalability and adoption. **However, it's crucial to remember that the cryptocurrency market is inherently volatile, and any predictions should be taken with a grain of salt.** Long-term investors seeking reprieve from market fluctuations may find Bitcoin an attractive opportunity, but **due diligence and a well-informed investment strategy are essential.** **Don't forget to stay updated on the latest developments in the crypto space and consult with financial advisors before making any investment decisions.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Inflation</category> <category>Investment</category> <enclosure url="https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2024/06/bitcoin-btc-price-chart-gID_7.jpeg" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Nvidia, Apple & Tesla Crash: Is a Stock Market Correction Imminent?]]></title> <link>https://www.bitcointoday.app/article/nvidia-apple-tesla-crash-is-a-stock-market-correction-imminent</link> <guid>nvidia-apple-tesla-crash-is-a-stock-market-correction-imminent</guid> <pubDate>Fri, 12 Jul 2024 01:00:23 GMT</pubDate> <description><![CDATA[## Nvidia, Apple & Tesla Crash: Is a Stock Market Correction Imminent? The stock market has been on a tear recently, with the S&P 500 and Nasdaq hitting new all-time highs. This surge has been fueled by hopes of an interest rate cut by the Federal Reserve in September. However, one analyst, **Barry Bannister**, is sounding the alarm bells, warning of an **imminent stock market correction**. **Bannister**, the managing director and chief equity strategist at Stifel, points to the recent **bitcoin and crypto crash**, which has wiped out over $500 billion in value, as a potential trigger for a correction in the S&P 500. He believes that the correlation between **bitcoin** and the tech-heavy Nasdaq in recent years is a sign that the recent rally in stocks is unsustainable. **Bannister** argues that **bitcoin's** price is driven by cheap liquidity provided by the Federal Reserve. Every **dovish pivot** by the Fed in the past 13 years has led to a surge in **bitcoin's price**, and **bitcoin**, being a non-interest bearing asset, thrives on low interest rates and abundant liquidity. However, the Fed has signaled that it is not ready to declare victory over inflation, which could lead to a change in course and potentially hurt **bitcoin's** price and the stock market. While **Bannister's** warning comes amidst a recent sharp pullback in the stock market, especially for tech giants like **Nvidia**, **Apple**, and **Tesla**, it's important to note that the market is still overwhelmingly bullish, with traders betting on continued **interest rate cuts**. It remains to be seen whether this **correction** is a temporary blip or a sign of a more significant shift in market sentiment. **Stay tuned for further developments and keep an eye on the market's reaction to the Fed's next interest rate decision.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>StockMarket</category> <category>Correction</category> <category>InterestRates</category> <category>Fed</category> <enclosure url="https://imageio.forbes.com/specials-images/imageserve/633c2741f081733a2a78b209/0x0.jpg?format=jpg&height=900&width=1600&fit=bounds" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto Wallets: Everything You Need to Know About Safeguarding Your Digital Assets]]></title> <link>https://www.bitcointoday.app/article/crypto-wallets-everything-you-need-to-know-about-safeguarding-your-digital-assets</link> <guid>crypto-wallets-everything-you-need-to-know-about-safeguarding-your-digital-assets</guid> <pubDate>Thu, 11 Jul 2024 00:00:24 GMT</pubDate> <description><![CDATA[## **What is a Cryptocurrency Wallet?** Think of a crypto wallet as a digital vault for your cryptocurrency keys, not the actual coins themselves. It's a digital address that allows you to interact with the decentralized network where your crypto lives. **Why are Crypto Wallets Useful?** Crypto wallets offer advantages like: * **Transacting:** Sending and receiving payments. * **Self-Custody:** Holding your coins directly, giving you more control. * **Enhanced Security:** Advanced wallets offer more protection than exchange wallets, but require careful management. **Disadvantages of Crypto Wallets:** * **Theft/Loss:** Physical and digital wallets are vulnerable to loss or theft. * **Destruction:** Physical wallets can be damaged and require careful handling. * **Usability Tradeoffs:** Secure wallets can be less user-friendly for transactions. ## **Types of Crypto Wallets** **1. Hardware Wallets (Cold Wallets):** * Physical devices that store your keys offline for maximum security. * Ideal for long-term storage and reducing risk of hacking. **2. Software Wallets (Hot Wallets):** * Accessed through software on your computer, phone, or browser. * Offer easier transactions but come with higher risk of online security breaches. **Different types of Software Wallets:** * **Desktop Wallets:** Downloaded software for secure offline storage. * **Web Wallets:** Browser plugins with convenient access but less security. * **Mobile Wallets:** Apps on your phone, ideal for payments but may not be as secure. **3. Paper Wallets:** * Print your keys on paper for offline storage and ultimate security. * Highly secure but difficult to use and rely on physical security. ## **What's the Safest Crypto Wallet?** The safest type of wallet depends on your needs and risk tolerance. Hardware wallets are generally the most secure but require careful physical handling. Software wallets offer ease of use but increase the risk of online threats. A balanced approach, using hardware for long-term storage and software for transactions, can provide a good compromise. ## **How to Choose a Crypto Wallet** Consider these factors when choosing a crypto wallet: * **Your Needs:** How frequently do you plan to transact? Do you prioritize security or convenience? * **Cost:** Hardware wallets are generally more expensive than software wallets. * **Currency Support:** Make sure the wallet supports the coins you want to use. * **Convenience:** Choose a wallet that's easy and intuitive to use. * **Features:** Look for additional features beyond basic functionality. The best crypto wallet for you is the one that aligns with your individual needs and priorities.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>Wallet</category> <category>Security</category> <category>Blockchain</category> <category>Bitcoin</category> <enclosure url="https://www.bankrate.com/brp/2024/07/10163107/What-is-a-crypto-wallet_.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Dips Below $60,000: Is This the End or Just a Correction?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-dips-below-60-000-is-this-the-end-or-just-a-correction</link> <guid>bitcoin-dips-below-60-000-is-this-the-end-or-just-a-correction</guid> <pubDate>Thu, 11 Jul 2024 06:00:27 GMT</pubDate> <description><![CDATA[## Bitcoin Takes a Dip, But Remains Strong Despite a recent decline, Bitcoin has remained resilient, showing signs of a healthy market structure. While the price has dropped below $60,000, it's important to remember that this downturn is **less severe than previous cycles**, as pointed out by Glassnode. **Glassnode's report highlights a few key points:** * **Moderate losses:** While short-term holders are feeling the pressure with over 2.8 million BTC currently below their acquisition price, these losses are **moderate compared to the overall market size**. This suggests that Bitcoin's fundamentals remain strong. * **Market stabilization:** Volatility is compressing, indicating that **Bitcoin is stabilizing as a mature asset**, with a growing acceptance and increased investor confidence. ## New Investors Fuel Market Saturation The crypto market has seen a **massive influx of new investors** since the start of 2024, driven by the launch of spot ETFs. However, this initial surge has led to **market saturation**, with fewer long-term holders taking profits and fewer new buyers entering the market. ## Looking Ahead The current situation is causing **financial pressure on short-term holders**, but the overall market structure remains **resilient**. While the short-term outlook might be volatile, **long-term prospects remain cautiously optimistic**. As demand recovers, prices are expected to stabilize, bringing Bitcoin back to life. **It's important to note:** The crypto market is inherently volatile, and investments carry inherent risks. Always do your own research before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Sentiment</category> <category>Glassnode</category> <enclosure url="https://www.cointribune.com/app/uploads/2024/07/Trump-et-le-Bitcoin.png?nowebp" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin ETF Mania: Over $100 Million Inflows for 4 Days Straight!]]></title> <link>https://www.bitcointoday.app/article/bitcoin-etf-mania-over-100-million-inflows-for-4-days-straight</link> <guid>bitcoin-etf-mania-over-100-million-inflows-for-4-days-straight</guid> <pubDate>Thu, 11 Jul 2024 10:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin ETFs: A Renewed Surge in Confidence The excitement surrounding Bitcoin ETFs continues to climb, with **over $100 million in inflows for four consecutive days**. This surge indicates **renewed investor confidence in Bitcoin and its related financial instruments.** **Fidelity's 'FBTC'** stands out with the largest inflow at **$57.8 million**, showcasing investors' willingness to **bet big on Bitcoin-related products.** However, the market isn't uniformly bullish. **BlackRock's 'IBIT' saw a dramatic drop in inflows from $121 million to $22.2 million**, highlighting the **volatility and persistent challenges within this sector.** ## Key Market Players in the Bitcoin ETF Boom Other major players like **Franklin Templeton and Grayscale** also play key roles in the Bitcoin ETF market. **Franklin Templeton** recorded its **largest inflow since May at $31.66 million**, reflecting a positive perception of recent market trends and Bitcoin's performance. **Grayscale's 'GBTC' fund**, on the other hand, experienced an **outflow of $8.2 million**. However, this needs to be considered alongside the massive inflows observed elsewhere. For instance, **Valkyrie's BRRR reported a net inflow of $20.68 million**, further reinforcing the idea of Bitcoin as an increasingly viable asset. ## A Promising Future for Bitcoin? The growing attraction for Bitcoin ETFs goes beyond a few days of positive inflows. It's a broader trend supported by **institutional interest and strategic investments from major financial institutions.** Funds like those from **Ark Invest, Invesco, Bitwise, and VanEck** have all seen significant inflows, indicating a **diverse and expanding Bitcoin ETF market**. This rise suggests an **evolving perception of Bitcoin**, moving from a speculative asset to an essential component of investment portfolios. The increasing involvement of financial institutions gives **credibility to Bitcoin and reinforces its position as a serious and promising asset class.** With massive inflows continuing, it's clear that **Bitcoin ETFs are attracting unprecedented interest**. Investors, both small and large, appear convinced of Bitcoin's bright future.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>ETF</category> <category>Inflows</category> <category>InvestorConfidence</category> <category>Cryptocurrency</category> <enclosure url="https://www.cointribune.com/app/uploads/2024/07/ETF-Bitcoin.png?nowebp" length="0" type="image/png"/> </item> <item> <title><![CDATA[Trump's Nashville Bitcoin Speech: A Turning Point for Crypto?]]></title> <link>https://www.bitcointoday.app/article/trumps-nashville-bitcoin-speech-a-turning-point-for-crypto</link> <guid>trumps-nashville-bitcoin-speech-a-turning-point-for-crypto</guid> <pubDate>Thu, 11 Jul 2024 01:00:23 GMT</pubDate> <description><![CDATA[## Trump's Crypto Stance: From Skeptic to Booster The former U.S. President, Donald Trump, is set to make a **30-minute speech** at the Bitcoin conference in Nashville, Tennessee, on **July 27th**. This appearance comes after Trump has publicly embraced cryptocurrency, incorporating pro-Bitcoin policies into the Republican Party platform. This shift in Trump's stance, from skepticism during his first administration to active promotion of the industry, could be a **major turning point** for crypto adoption. ### Republican Support for Crypto? A recent poll suggests that Trump's pro-crypto stance might be resonating with Republican voters, potentially shifting their perceptions of the technology. The upcoming speech will likely further solidify Trump's image as a **crypto champion**, contrasting with the Biden administration's stance on the industry. ## A Key Event for Crypto? Trump's attendance at the Bitcoin conference is widely anticipated and could be a **significant event** for the crypto community. The speech could provide valuable insights into the future of crypto regulation and the role of the Republican party in shaping the industry. **Note:** CoinDesk, the publication reporting this news, is owned by the Bullish group, a company with investments in various blockchain and digital asset businesses. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Trump</category> <category>Bitcoin</category> <category>Crypto</category> <category>Nashville</category> <category>Politics</category> <enclosure url="https://www.coindesk.com/resizer/sq4rn8NgVcj2MEpL4b3DlvF550A=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/TEBVALH7NVC67ME4V4DEQNPBAA.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[MicroStrategy Splits Stock 10:1 After Bitcoin Rally Sends Shares Soaring]]></title> <link>https://www.bitcointoday.app/article/microstrategy-splits-stock-10-1-after-bitcoin-rally-sends-shares-soaring</link> <guid>microstrategy-splits-stock-10-1-after-bitcoin-rally-sends-shares-soaring</guid> <pubDate>Thu, 11 Jul 2024 15:00:24 GMT</pubDate> <description><![CDATA[## MicroStrategy Splits Stock 10:1: A Bitcoin-Fueled Move MicroStrategy, the company holding the largest corporate bitcoin treasury, announced a 10-for-1 stock split on Thursday. The move comes after their share price more than tripled in the past year, fueled by the bitcoin rally. **Key Takeaways:** * **Increased Accessibility:** The split aims to make MicroStrategy shares more accessible to investors and employees, particularly smaller, retail investors who might find the high share price daunting. * **Leveraged Play on Bitcoin:** MicroStrategy's business model is heavily tied to the price of bitcoin. They frequently issue debt to purchase more bitcoin, making their stock a leveraged play on the cryptocurrency's performance. * **Following the Trend:** Stock splits are becoming increasingly common among companies whose share prices have significantly appreciated. Recent examples include Nvidia, whose 10:1 split was driven by the AI equities rally. **Impact:** While the split doesn't change MicroStrategy's valuation, it could make the stock more appealing to retail investors, potentially driving further interest in the company and the broader cryptocurrency market. **About MicroStrategy:** MicroStrategy is a software firm led by Michael Saylor, a vocal proponent of bitcoin. The company has consistently invested heavily in bitcoin, holding over $13 billion worth of BTC in its treasury. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>MicroStrategy</category> <category>Bitcoin</category> <category>StockSplit</category> <category>Cryptocurrency</category> <category>RetailInvestors</category> <enclosure url="https://www.coindesk.com/resizer/G5OS6uhUY4ecJq1cNwX8btb4O-Q=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SJVORZZTKJGRFEQPFAE3SJ5JDU.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[SEC Commissioner Criticizes Bitcoin ETFs, Raising Concerns About Fraud in Crypto Markets]]></title> <link>https://www.bitcointoday.app/article/sec-commissioner-criticizes-bitcoin-etfs-raising-concerns-about-fraud-in-crypto-markets</link> <guid>sec-commissioner-criticizes-bitcoin-etfs-raising-concerns-about-fraud-in-crypto-markets</guid> <pubDate>Thu, 11 Jul 2024 20:00:24 GMT</pubDate> <description><![CDATA[## SEC Commissioner Raises Concerns About Bitcoin ETFs During a Senate Banking Committee hearing, SEC Commissioner Caroline Crenshaw expressed her opposition to bitcoin exchange traded products (ETPs), citing concerns about fraud and manipulation in the underlying spot markets. **Crenshaw's concerns** stem from the fact that she believes these ETPs, while marketed as ETFs, operate under different rules. She argues that approving bitcoin ETPs could further harm investors, particularly those who rely on retirement accounts. **In January**, Crenshaw maintained her opposition to bitcoin spot ETFs after the SEC lost a court battle with Grayscale. She emphasized that the agency's approval of these products would "put us on a wayward path that could further sacrifice investor protection." **Currently**, the SEC is reviewing similar trading products for Ethereum's ether (ETH). **The hearing also saw testimony** from other nominees for financial regulatory positions, including Christy Goldsmith Romero, Kristin Johnson, and Gordon Ito. **Senator Cynthia Lummis** raised the question of banks holding customer's cryptocurrency, to which Commissioner Romero responded that it's not the FDIC's role to dictate which industries banks should serve. **Overall, the hearing** highlighted the ongoing scrutiny of the crypto sector by U.S. regulators, specifically regarding the potential risks associated with bitcoin ETPs and the need for increased oversight in the industry.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>SEC</category> <category>Crypto</category> <category>Regulation</category> <category>ETFs</category> <enclosure url="https://www.coindesk.com/resizer/YHqmIMCCQRu4s6kLIUbUUQmn_rc=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JYCU2XEQTFFR3MX2YEAFG3ZJNI.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Whales Buy the Dip: Small Traders Sell, While Big Players Accumulate]]></title> <link>https://www.bitcointoday.app/article/bitcoin-whales-buy-the-dip-small-traders-sell-while-big-players-accumulate</link> <guid>bitcoin-whales-buy-the-dip-small-traders-sell-while-big-players-accumulate</guid> <pubDate>Thu, 11 Jul 2024 17:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin Whales Buy the Dip: Small Traders Sell, While Big Players Accumulate Recent data suggests a stark contrast in behavior between small Bitcoin traders and large investors (whales and sharks). While small traders are selling off their holdings, possibly due to fear, **whales and sharks are actively accumulating Bitcoin**, potentially signaling bullish sentiment. **Santiment, a crypto analytics platform, revealed that small traders have been offloading their BTC holdings, contributing to the current selling pressure in the market.** Meanwhile, there has been a significant increase in the number of whales holding 1,000 BTC or more, and sharks (holding 10 to 1,000 BTC) are also increasing their holdings. **This shift suggests that larger, more established investors are confident in Bitcoin's long-term potential**, despite the recent correction. In fact, July has seen a net increase of more than 261 wallets holding at least 10 BTC. **Glassnode's “The Week Onchain” newsletter points out that the current correction is shallower than previous cycles**, indicating a strong market structure and decreased volatility as Bitcoin matures as an asset class. **The sell-off has pushed 83% of the supply held by short-term holders (addresses holding Bitcoin for less than 155 days) into unrealized losses.** However, analysts argue that drawdowns in the current cycle remain favorable compared to historical cycles, suggesting a relatively robust underlying market structure. **The contrasting behaviors of small traders and whales highlight the complexity of the market and the importance of considering different perspectives.** While fear may drive some to sell, others see the current dip as an opportunity to accumulate Bitcoin at a lower price, potentially setting the stage for future growth.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Whales</category> <category>MarketSentiment</category> <category>Crypto</category> <category>Trading</category> <enclosure url="https://cryptopotato.com/wp-content/uploads/2024/01/Bitcoin_Whales.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[MicroStrategy's Bold Move: 10-for-1 Stock Split Amid Bitcoin's Stagnant Price]]></title> <link>https://www.bitcointoday.app/article/microstrategys-bold-move-10-for-1-stock-split-amid-bitcoins-stagnant-price</link> <guid>microstrategys-bold-move-10-for-1-stock-split-amid-bitcoins-stagnant-price</guid> <pubDate>Thu, 11 Jul 2024 14:00:26 GMT</pubDate> <description><![CDATA[## MicroStrategy's 10-for-1 Stock Split: A Bold Move in a Stagnant Bitcoin Market MicroStrategy, the largest corporate holder of bitcoin, announced a **10-for-1 stock split** on Thursday. This move, aimed at making MicroStrategy's stock more accessible to investors and employees, comes amidst a **lull in bitcoin's price**. While many anticipate a **rebound in the second half of the year**, bitcoin has been stuck in a tight range since March. The stock split will see shares divided into **class A and class B common stock**. Shareholders will receive a dividend on August 1, granting them **9 additional shares for every 1 held**, distributed after trading closes on August 7. The stock will trade on a post-split basis starting August 8. **MicroStrategy's Shift to Bitcoin:** The company, originally a provider of enterprise software, shifted its focus to **bitcoin development** in 2020, adopting an aggressive bitcoin-buying strategy. Since then, MicroStrategy's stock has largely traded as a **proxy for bitcoin's price**. **Analysts are optimistic** about MicroStrategy's future, with Bernstein calling it "**the world's largest bitcoin company**" and predicting **80% upside potential**. This year, MicroStrategy stock has seen a **106% gain**, outperforming bitcoin's 38% advance. Over the past 12 months, the stock has surged 216%, compared to bitcoin's 91% increase. **Is this a bullish signal for Bitcoin?** MicroStrategy's stock split, combined with its unwavering commitment to bitcoin, could signal a bullish sentiment for the cryptocurrency. The company's aggressive strategy and positive outlook suggest confidence in bitcoin's future, despite its current price stagnation.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>MicroStrategy</category> <category>Bitcoin</category> <category>StockSplit</category> <category>Cryptocurrency</category> <category>Investment</category> <enclosure url="https://image.cnbcfm.com/api/v1/image/107389340-1710852273390-gettyimages-2039372699-cfoto-illustra240229_np5AY.jpeg?v=1720701350&w=1920&h=1080" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Crypto Firm Payeer Slapped with Record €9.3M Fine for AML Failures in Lithuania]]></title> <link>https://www.bitcointoday.app/article/crypto-firm-payeer-slapped-with-record-93m-fine-for-aml-failures-in-lithuania</link> <guid>crypto-firm-payeer-slapped-with-record-93m-fine-for-aml-failures-in-lithuania</guid> <pubDate>Thu, 11 Jul 2024 12:00:26 GMT</pubDate> <description><![CDATA[## Crypto Firm Payeer Hit with Record €9.3M Fine for AML Failures in Lithuania Lithuania has slapped cryptocurrency company Payeer with a record €9.3 million fine for a range of anti-money laundering (AML) failures, including breaches of international sanctions. The Lithuanian Financial Crime Investigation Service (FCIS) announced the penalty, highlighting it as the largest fine ever imposed by the FCIS for violations of international sanctions. **Key AML failures:** * **Breaches of international sanctions:** Payeer is accused of failing to comply with international sanctions, potentially enabling individuals or entities subject to sanctions to access and use cryptocurrency services. * **Insufficient AML controls:** The FCIS investigation revealed that Payeer lacked adequate AML controls, allowing potential financial crime to occur. This hefty fine serves as a stark reminder to cryptocurrency companies about the importance of robust AML compliance and adhering to international sanctions. Failure to do so can result in substantial financial penalties and reputational damage.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>AML</category> <category>Sanctions</category> <category>FinancialCrime</category> <category>Lithuania</category> <enclosure url="https://www.amlintelligence.com/wp-content/uploads/2022/07/cryptocurrency-g2350c1a33_1920.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Next Move: Inflation Data, Fed Rate Cuts & the Yield Curve]]></title> <link>https://www.bitcointoday.app/article/bitcoins-next-move-inflation-data-fed-rate-cuts-the-yield-curve</link> <guid>bitcoins-next-move-inflation-data-fed-rate-cuts-the-yield-curve</guid> <pubDate>Thu, 11 Jul 2024 08:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin's Next Move: Inflation Data, Fed Rate Cuts & the Yield Curve The upcoming U.S. CPI report on Thursday will be crucial for determining the direction of the bitcoin market. Economists expect the data to show continued progress on the inflation front, strengthening the case for the Federal Reserve (Fed) to start cutting interest rates this year. **Why is this important for Bitcoin?** * **Fed rate cuts are bullish for Bitcoin:** Lower rates typically increase liquidity, making investors more likely to invest in risk assets like cryptocurrencies. * **The yield curve's reaction is also key:** A steepening of the yield curve, where the spread between yields on the 10-year and two-year notes widens, has historically coincided with periods of economic contraction and risk aversion. Investment banks are betting on this scenario, which could negatively impact Bitcoin. **What to watch out for:** * **The U.S. CPI data release at 12:30 UTC (8:30 ET)** If the data meets expectations, it could give Bitcoin a boost. * **The Treasury yield curve's reaction to the data.** A steepening of the curve could put downward pressure on Bitcoin. **Key takeaways:** * The Fed is likely to start cutting interest rates this year, which could be positive for Bitcoin. * The yield curve is a key indicator of economic health and investor sentiment. A steepening of the curve could be a bearish signal for Bitcoin. **This is a critical week for Bitcoin. The CPI data and the yield curve's reaction will provide important clues about the future direction of the market.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>CPI</category> <category>Fed</category> <category>YieldCurve</category> <category>Crypto</category> <enclosure url="https://www.coindesk.com/resizer/WB4mCMCPfKUjzTI6UwLcNDT9A2E=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ZOZCTDRVQJDFDE3WNJIZXMX4HE.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[3 Crypto Coins To Watch For Big Returns in 2024: Expert Picks]]></title> <link>https://www.bitcointoday.app/article/3-crypto-coins-to-watch-for-big-returns-in-2024-expert-picks</link> <guid>3-crypto-coins-to-watch-for-big-returns-in-2024-expert-picks</guid> <pubDate>Thu, 11 Jul 2024 00:00:24 GMT</pubDate> <description><![CDATA[## Top Crypto Coins to Watch in 2024: Expert Insights As a new investor in the crypto market, it's exciting to discover the potential for growth. But with so many coins out there, where should you focus your attention? We've compiled expert insights on three promising cryptocurrencies to watch this year. ### 1. Ripple (XRP): Revolutionizing Decentralized Finance (DeFi) **Ripple XRP** is gaining momentum as a key player in the DeFi space. Its impact on the decentralized finance ecosystem is significant. Learn more about XRP's role in DeFi and its potential for growth. ### 2. Cardano (ADA): Node 9.0.0 Installation Brings New Opportunities **Cardano** is making headlines with the recent installation of **Node 9.0.0**. This update could propel **ADA** to new heights. Explore the implications of this update and how it might affect the coin's value. ### 3. Bitcoin ETF Flows: Navigating the Latest DeFi Market Trends Stay ahead of the game by understanding the latest **DeFi market trends**. Learn about **Bitcoin ETF flows** and their impact on the overall market. Gain insights into how these trends can influence your investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>DeFi</category> <category>Ripple</category> <category>XRP</category> <category>Cardano</category> <category>ADA</category> <category>Bitcoin</category> <enclosure url="https://watcher.guru/news/wp-content/uploads/2024/04/photo_6089016814358086134_y.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[🚨 Fake Solicitor Bitcoin Scam Alert! UK Regulator Warns of New Email Threat 🚨]]></title> <link>https://www.bitcointoday.app/article/-fake-solicitor-bitcoin-scam-alert-uk-regulator-warns-of-new-email-threat-</link> <guid>-fake-solicitor-bitcoin-scam-alert-uk-regulator-warns-of-new-email-threat-</guid> <pubDate>Thu, 11 Jul 2024 09:00:25 GMT</pubDate> <description><![CDATA[## Fake Lawyers Demanding Bitcoin: UK Regulator Issues Warning ⚠️ The Solicitors Regulation Authority (SRA) in the UK has issued a warning about a new scam involving emails from fake lawyers demanding Bitcoin payments. **These emails, claiming to be from the legitimate firm Attwaters Solicitors, use the name "Patrice Joyce" and threaten to release damaging videos unless a Bitcoin (BTC) payment is made.** **The scam:** * The email claims to have copied all of the recipient's personal data and threatens to release damaging videos unless a Bitcoin payment is made. * The email includes a link to a Bitcoin wallet, which may contain malware. * The email falsely uses the name "Patrice Joyce" and claims to be associated with the legitimate firms Attwaters Solicitors and Attwaters Jameson Hill Solicitors. * The SRA confirmed that it does not authorize or regulate a lawyer named Patrice Joyce. **The Real Story:** * The genuine firm’s email domains end in “@attwaters.co.uk” or “@attwatersjamesonhill.co.uk.” * Manjot Kaur Henchie, known as Joyti, the bearer of the name used in the email address, is a genuine solicitor working at the legitimate firm Attwaters Jameson Hill Solicitors. Both the firm and Henchie have confirmed they have no connection to the scam email. **How to Protect Yourself:** * **Be vigilant:** If you receive a suspicious email demanding payment, especially in cryptocurrency, do not click on any links or attachments. * **Verify:** Contact the law firm directly through reliable means to confirm the email's authenticity. * **Check:** Verify the individual or firm's authorization with the SRA. **This is not the first time we've seen this type of scam.** In 2019, a similar scam targeted website owners using Google’s AdSense program, demanding Bitcoin to prevent an attack. In 2020, New Zealand law enforcement warned about a cryptocurrency scam where fraudsters blackmailed victims by claiming to possess information about their online activities and demanded a Bitcoin ransom. **The SRA's alert serves as a reminder to be cautious about email scams and to always verify the legitimacy of any request for payment, especially when dealing with cryptocurrencies.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>SRA</category> <category>Scam</category> <category>Cryptocurrency</category> <category>Cybersecurity</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/87a07f56-a460-4393-977d-916b96074c73.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Fake Lawyer Bitcoin Scam Alert: UK Regulator Warns of New Threat]]></title> <link>https://www.bitcointoday.app/article/fake-lawyer-bitcoin-scam-alert-uk-regulator-warns-of-new-threat</link> <guid>fake-lawyer-bitcoin-scam-alert-uk-regulator-warns-of-new-threat</guid> <pubDate>Thu, 11 Jul 2024 09:00:26 GMT</pubDate> <description><![CDATA[## Beware of Fake Lawyer Bitcoin Scams: UK Regulator Issues Warning The Solicitors Regulation Authority (SRA) in the United Kingdom has issued a warning about a new scam involving emails from fake lawyers demanding Bitcoin payments. **The scam email, sent from the address “joyti.henchie@attwaters.co”, claims to have copied all of the recipient’s personal data and threatens to release damaging videos unless a Bitcoin (BTC) payment is made.** **The email falsely uses the name “Patrice Joyce” and claims to be associated with the legitimate firms Attwaters Solicitors and Attwaters Jameson Hill Solicitors. However, the SRA confirmed that it does not authorize or regulate a lawyer named Patrice Joyce.** **The genuine firm’s email domains end in “@attwaters.co.uk” or “@attwatersjamesonhill.co.uk”.** The SRA emphasizes that any business or transaction through the email domain “@attwaters.co” is not associated with the genuine firms or individuals it regulates. **Manjot Kaur Henchie, known as Joyti, the bearer of the name used in the email address, is a genuine solicitor working at the legitimate firm Attwaters Jameson Hill Solicitors. Both the firm and Henchie have confirmed they have no connection to the scam email.** **How to Protect Yourself:** * **Verify the authenticity of the email:** Contact the law firm directly through reliable means and check the SRA’s records to confirm the individual or firm’s authorization. * **Be cautious of demands for payment, especially in cryptocurrencies.** This scam is a reminder of the importance of being vigilant against email scams and ensuring any demands for payment, particularly in cryptocurrencies like Bitcoin, are thoroughly investigated before action is taken. **Similar scams have targeted website owners using Google’s AdSense program and victims of alleged online pornographic activities, demanding Bitcoin ransoms.** This news highlights the ongoing challenge of cybercrime in the digital age and the importance of staying informed about emerging scams.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Scam</category> <category>Cybersecurity</category> <category>UK</category> <category>Regulation</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/87a07f56-a460-4393-977d-916b96074c73.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Trump's Bitcoin Conference Attendance: A Game-Changer for Crypto?]]></title> <link>https://www.bitcointoday.app/article/trumps-bitcoin-conference-attendance-a-game-changer-for-crypto</link> <guid>trumps-bitcoin-conference-attendance-a-game-changer-for-crypto</guid> <pubDate>Thu, 11 Jul 2024 03:00:25 GMT</pubDate> <description><![CDATA[## Trump's Bitcoin Conference Attendance: A Game-Changer for Crypto? The political landscape of cryptocurrency is witnessing a seismic shift. **Former President Donald Trump is set to attend the upcoming Bitcoin Conference in Nashville**, a move that has sent shockwaves through the crypto community. **This unexpected announcement raises several questions:** * **What will Trump's role be at the conference?** Will he be giving a keynote speech or simply attending as a guest? * **How will this impact the Biden campaign?** Will the administration be forced to soften its stance on crypto in response? * **What are the broader implications for the crypto industry?** Could this signal a shift in the Republican party's platform and attract more crypto-focused voters? **Trump's attendance marks a significant departure from his previous criticisms of bitcoin.** He had previously advocated for the supremacy of the U.S. dollar and dismissed bitcoin. This change of heart reflects a broader trend within the Republican party, which now includes bitcoin in its platform. **This development puts pressure on the Biden administration to reassess its position and potentially adopt a more crypto-friendly approach.** The implications for the upcoming election are significant, with Trump potentially positioning himself as the “crypto president.” **The growing influence of the crypto community is undeniable.** A recent Democratic roundtable on crypto policy, co-hosted by Congressman Ro Khanna, demonstrates the administration's recognition of the increasing importance of the crypto constituency. **Trump's surprise appearance at the Bitcoin Conference is a pivotal moment in the political landscape of cryptocurrency.** It remains to be seen what the long-term impact will be, but one thing is clear: the crypto community is watching closely.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Trump</category> <category>Bitcoin</category> <category>Crypto</category> <category>Politics</category> <category>Election</category> <enclosure url="https://www.thestreet.com/.image/t_share/MjAzNzE5NTI3NjYwMjY3NDEw/donald-trump-just-vowed-to-block-a-us-cbdc-heres-why-thats-huge.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto Regulation: How It Impacts Prices and What to Watch Out For]]></title> <link>https://www.bitcointoday.app/article/crypto-regulation-how-it-impacts-prices-and-what-to-watch-out-for</link> <guid>crypto-regulation-how-it-impacts-prices-and-what-to-watch-out-for</guid> <pubDate>Thu, 11 Jul 2024 14:00:27 GMT</pubDate> <description><![CDATA[## **The Impact of Cryptocurrency Regulation on Prices** Regulatory changes in the crypto market can significantly affect prices and investor behavior. Understanding these changes is essential for making informed decisions. Platforms like **Oriole Insights** provide valuable data to help investors navigate the regulatory landscape. ### **Why Regulation Matters** * **Investor Protection:** Regulations aim to protect investors from scams and fraud prevalent in the crypto market. * **Market Integrity:** Ensuring market integrity through regulations prevents manipulation and promotes fair trading practices. * **Legitimacy and Adoption:** Regulatory frameworks legitimize cryptocurrencies, encouraging broader adoption by businesses and consumers. * **Clarity and Stability:** Clear regulations provide a stable environment for innovation and investment. ### **Global Regulatory Landscape** Different countries have adopted diverse regulatory approaches to cryptocurrencies. * **The U.S. SEC:** The Securities and Exchange Commission (SEC) focuses on investor protection and market integrity. * **The European Union:** The EU has developed comprehensive regulatory frameworks for cryptocurrencies, including the **Markets in Crypto-Assets (MiCA) regulation**. This aims to harmonize regulations across member states, reduce fragmentation, and enhance consumer protection. * **Asia-Pacific:** The Asia-Pacific region exhibits diverse regulatory approaches, with countries like Japan embracing cryptocurrencies and China adopting a stringent stance. ### **The Impact on Prices** * **Volatility:** Regulatory changes can lead to significant market volatility, affecting the value of digital assets. Positive news can boost investor confidence and drive prices upward, while negative news can trigger panic selling and sharp price declines. * **Investor Confidence:** Regulatory clarity and robust oversight are crucial for building investor confidence. Clear regulations ensure transparency, accountability, and protection, encouraging participation and promoting market growth. * **Long-Term Stability:** Comprehensive regulations help establish a level playing field, prevent market manipulation, and ensure fair practices. They contribute to the overall health of the crypto ecosystem and long-term stability. ### **Navigating the Regulatory Landscape** * **Oriole Insights:** Oriole Insights is a leading price prediction platform that leverages advanced analytics and machine learning to provide accurate cryptocurrency price forecasts. It offers a comprehensive suite of tools to help investors make informed decisions. * **Staying Informed:** Staying informed about potential regulatory changes is crucial for navigating the volatile crypto market. This includes understanding the impact of different regulatory actions on prices and investor confidence. ### **The Future of Crypto Regulation** Regulatory bodies are continuously evaluating and updating their approaches to cryptocurrency regulation. Future actions may include: * **Stricter AML and KYC requirements** * **Enhanced investor protection measures** * **Increased scrutiny of DeFi platforms and stablecoins** * **Developing frameworks for regulating central bank digital currencies (CBDCs)** These developments will shape the future landscape of the crypto market and influence the regulatory environment for years to come.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>Regulation</category> <category>Prices</category> <category>Investing</category> <category>OrioleInsights</category> <enclosure url="https://www.crypto-reporter.com/wp-content/uploads/2024/04/cryptocurrencies_23.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Bull Run to Continue Until 2025? Top Analyst Explains]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bull-run-to-continue-until-2025-top-analyst-explains</link> <guid>bitcoin-bull-run-to-continue-until-2025-top-analyst-explains</guid> <pubDate>Thu, 11 Jul 2024 08:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin Bull Run Could Extend Into 2025, Says Analyst A prominent cryptocurrency analyst, known as Bluntz, believes Bitcoin's bullish cycle is not over yet and could extend into early 2025. Bluntz, who has a large following on X (formerly Twitter), uses the Elliott Wave theory to predict market trends. According to this theory, the price of an asset moves in a five-wave pattern during a bull market, with corrections occurring in three-wave patterns. Based on Bluntz's analysis, Bitcoin has recently completed the fourth wave of a five-wave pattern on the weekly time frame. This suggests that Bitcoin could complete the fifth wave and reach a price of almost $100,000, starting a new bull market cycle. Furthermore, Bluntz highlights a bullish divergence signal on Bitcoin's daily chart. This suggests a potential reversal from a downtrend to an uptrend. **Key Takeaway:** Bluntz's analysis suggests that Bitcoin could continue its bullish run into early 2025, with the potential for significant price gains. However, it's essential to remember that technical analysis is not foolproof, and the market can be unpredictable. Always conduct your own research and consult with a financial advisor before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Analyst</category> <category>ElliottWave</category> <category>TechnicalAnalysis</category> <enclosure url="https://dailyhodl.com/wp-content/uploads/2024/07/How-Long-the-BTC.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Correction Warning: Could This Be a 'Summer of 2021' Repeat?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-correction-warning-could-this-be-a-summer-of-2021-repeat</link> <guid>bitcoin-correction-warning-could-this-be-a-summer-of-2021-repeat</guid> <pubDate>Thu, 11 Jul 2024 23:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin's Price Struggle: Could We Be Facing a Major Correction? Bitcoin has been in a slump since hitting a record high of over $73,000 in March. While demand has been increasing, the cryptocurrency is currently retesting key support at $57,000 for a third day after sliding below that level last week. **A key indicator, CryptoQuant's Bitcoin Profit and Loss Index, is hovering around its 365-day moving average. Historically, a crossover of the index to the downside has marked major corrections, including the one between May and July 2021.** **Julio Moreno, CryptoQuant's head of research, warns that traders' margins are extremely negative, reaching the most negative levels since the FTX exchange collapse in November 2022. This could be a sign of a bottom, but a major correction similar to the 'Summer of 2021' is also a possibility.** While demand for bitcoin has been on an uptrend since May, the token still faces some headwinds. **Stablecoin liquidity, a necessary condition for a price rally, is not accelerating. The lack of corresponding growth in Tether market cap may delay or dampen the potential for a significant bitcoin price rally.** Furthermore, **mid and large-sized bitcoin miners are still selling a portion of their holdings**, which adds to the pressure on the market. **Despite the challenges, Bitcoin is not expected to retest its record until later this year.** However, the data suggests that this correction could get uglier before a recovery begins. ## Key Takeaways * Bitcoin is facing a potential 'Summer of 2021' style correction. * The CryptoQuant's Bitcoin Profit and Loss Index is signaling a potential downturn. * Trader margins are extremely negative, reaching the lowest levels since the FTX collapse. * Stablecoin liquidity and miner selling pressure are also contributing to the headwinds. * Despite the challenges, a recovery is expected later this year.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Correction</category> <category>TechnicalAnalysis</category> <category>MarketSentiment</category> <enclosure url="https://image.cnbcfm.com/api/v1/image/108004574-1720707785357-gettyimages-2159997262-JAQUESILVA_03072024-4095.jpeg?v=1720707891&w=1920&h=1080" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[How NFTs are Revolutionizing Bitcoin Mining: GoMining's Gamified Approach]]></title> <link>https://www.bitcointoday.app/article/how-nfts-are-revolutionizing-bitcoin-mining-gominings-gamified-approach</link> <guid>how-nfts-are-revolutionizing-bitcoin-mining-gominings-gamified-approach</guid> <pubDate>Thu, 11 Jul 2024 17:00:26 GMT</pubDate> <description><![CDATA[## The Impact of the Bitcoin Halving on Mining Profitability The 2024 Bitcoin halving event significantly reduced the profitability of mining companies by slashing block rewards. However, the Bitcoin network's hashrate continues to grow exponentially, driven by the constant upgrade cycle of mining hardware. While newer miners like the Antminer S21 Pro offer improved energy efficiency and increased hashrate, their high cost makes them inaccessible to most retail investors. ## GoMining: A Gamified Approach to Bitcoin Mining **GoMining** offers a unique solution by providing a gamified approach to Bitcoin mining that allows retail investors to **own** a portion of Bitcoin hashrate through **NFTs**. This innovative concept, called **Liquid Bitcoin Hashrate**, empowers users to trade and transfer their hashrate assets. ### How GoMining Works: * **Tokenized Hashrate:** GoMining tokenizes hashrate produced by miners in their data centers and mints it as NFTs with varying energy efficiency and power characteristics. * **Tradeable NFTs:** These NFTs are tradeable and transferable, allowing users to participate in the Bitcoin mining ecosystem in a flexible and accessible way. * **GOMINING Token:** GoMining utilizes a native token (GOMINING) with a deflationary mechanism and various use cases, including NFT upgrades. * **Solo and Pool Mining:** Users can choose between **solo mining**, which offers guaranteed results based on their NFT's characteristics, or **pool mining**, where they can join or create pools to collaborate and potentially earn more. **GoMining provides a new perspective on Bitcoin mining, opening doors for retail investors to participate in the growing network without the need for significant capital investment or technical expertise.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Mining</category> <category>NFT</category> <category>GoMining</category> <category>Blockchain</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/dd3310ff-3c60-4a44-86e2-14a23687da2c.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Donald Trump to Speak at Bitcoin 2024 Conference: What Does it Mean for the Future of Crypto?]]></title> <link>https://www.bitcointoday.app/article/donald-trump-to-speak-at-bitcoin-2024-conference-what-does-it-mean-for-the-future-of-crypto</link> <guid>donald-trump-to-speak-at-bitcoin-2024-conference-what-does-it-mean-for-the-future-of-crypto</guid> <pubDate>Thu, 11 Jul 2024 03:00:25 GMT</pubDate> <description><![CDATA[## Trump's Pro-Crypto Stance Takes Center Stage at Bitcoin 2024 Former U.S. President Donald Trump will be a featured speaker at the Bitcoin 2024 conference in Nashville, Tennessee, taking place from July 25 to 27. This news comes as Trump has actively endorsed the crypto industry, even accepting political donations in cryptocurrencies. He has also pledged to advocate for **bitcoin mining** if he becomes president. Trump's strong support for crypto has earned him backing from prominent figures like the **Winklevoss twins** and **Cathie Wood**. Other U.S. politicians, including presidential candidate **Robert F. Kennedy Jr.**, former presidential candidate **Vivek Ramaswamy**, and Republican Senators **Bill Hagerty** and **Marsha Blackburn**, will also be speaking at the conference. While Trump has embraced crypto, President Biden's campaign has reportedly been reaching out to the crypto industry for guidance on **digital asset policies**, but has yet to make significant announcements. This lack of clarity has led some to suggest that Trump is capitalizing on the situation. ## What's Next for Crypto? Trump's participation at Bitcoin 2024 is sure to spark further debate about the future of crypto in the U.S. The conference, one of the world's largest bitcoin events, will provide a platform for discussion and dialogue on critical issues like **regulation**, **adoption**, and the potential **impact of crypto on the economy**. It remains to be seen how Trump's speech and the overall tone of the conference will influence the future of crypto in the U.S., but one thing is certain: **the crypto industry is gaining political attention**. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Trump</category> <category>Politics</category> <category>Regulation</category> <enclosure url="https://www.tbstat.com/wp/uploads/2024/03/20240313_Trump_News_3-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin to Reach $330,000 This Bull Cycle? Analyst Predicts Monumental Rebound]]></title> <link>https://www.bitcointoday.app/article/bitcoin-to-reach-330-000-this-bull-cycle-analyst-predicts-monumental-rebound</link> <guid>bitcoin-to-reach-330-000-this-bull-cycle-analyst-predicts-monumental-rebound</guid> <pubDate>Thu, 11 Jul 2024 19:00:22 GMT</pubDate> <description><![CDATA[## Bitcoin to Hit $330,000? Analyst Sees Bullish Future Despite Recent Dip Independent market analyst Arsen remains optimistic about Bitcoin's long-term trajectory, predicting a surge to $330,000 during the current bull cycle. **Smart Money Accumulating Bitcoin** Arsen argues that institutional investors, market experts, and financial professionals are **accumulating Bitcoin** during the recent correction, indicating a strong bullish bias. He points to historical bull cycles where Bitcoin's price saw significant increases every four years. **Bitcoin Bull Cycles: A Historical Perspective** - **2012:** 800-day bull cycle with a 9,000% price increase - **2016:** 800-day bull cycle with a 3,000% price increase - **2020:** 800-day bull cycle with a 1,200% price increase Arsen observes that the return on Bitcoin in each consecutive cycle has decreased by approximately 60%. Based on this trend, he projects a **450% price increase** in the current cycle, leading to a potential price of $330,000 per coin. **Institutional Investors Buying the Dip** Data from CoinShares shows that institutional investors are actively **buying Bitcoin** during the recent price decline. This trend is further supported by CryptoQuant's report, which indicates a significant increase in **whale holdings**. **Short-Term Bearish Outlook?** While the long-term outlook for Bitcoin remains bullish, some analysts anticipate a **short-term correction**. Markus Thielen, an analyst at 10x Research, expects Bitcoin's price to drop towards $50,000 due to a **double top formation**, a bearish reversal pattern. Michaël van de Poppe, founder of MN Capital, also predicts a short-term bearish outlook, suggesting a fall below the May 1 low of $56,000 before a potential rebound. **Disclaimer:** This article does not provide investment advice. Conduct your own research before making any investment decisions. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BullMarket</category> <category>PricePrediction</category> <category>InstitutionalInvestors</category> <category>MarketSentiment</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/6f295415-988c-461b-b0a1-db5d53c702af.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[CFTC Chair Calls for More Crypto Oversight: Bitcoin and Ethereum Officially Commodities]]></title> <link>https://www.bitcointoday.app/article/cftc-chair-calls-for-more-crypto-oversight-bitcoin-and-ethereum-officially-commodities</link> <guid>cftc-chair-calls-for-more-crypto-oversight-bitcoin-and-ethereum-officially-commodities</guid> <pubDate>Thu, 11 Jul 2024 04:00:25 GMT</pubDate> <description><![CDATA[## CFTC Chair Calls for More Crypto Oversight: Bitcoin and Ethereum Officially Commodities The Chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has once again emphasized the need for increased regulatory oversight of crypto assets in the United States. In a recent testimony before the US Senate Committee on Agriculture, Nutrition, and Forestry, Behnam stated that **Bitcoin (BTC) and Ethereum (ETH) are commodities**, citing a recent court ruling in Illinois. This ruling, part of a $120 million Ponzi scheme case, solidified the classification of both assets as commodities under the Commodity Exchange Act. Behnam highlighted the **lack of regulation** in the spot market for digital assets that are not securities, emphasizing the potential risks to investors and the financial system. He argued that ongoing inaction from other regulators would only exacerbate these risks. **The CFTC Chair outlined five key legislative priorities for better regulating digital commodities:** 1. **Tailored rules to address the unique risk profile of cryptocurrencies.** 2. **A permanent “fee-for-service model” funding model.** 3. **Requiring registrants to adhere to a “comprehensive disclosure regime” regarding their crypto assets.** 4. **Bolstering KYC and AML privileges for the CFTC.** 5. **Developing a comprehensive education and outreach program concerning crypto assets in the US.** Behnam believes that the CFTC is well-equipped to enforce crypto rules and emphasized the need for a collaborative approach with the Securities and Exchange Commission (SEC) to ensure a robust regulatory framework for digital asset markets. **This renewed call for stricter crypto regulation comes at a time when the industry is facing heightened scrutiny and uncertainty. The US government is still grappling with how to classify and regulate various crypto assets, and the CFTC's stance on Bitcoin and Ethereum as commodities could have significant implications for the future of the crypto market.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Crypto</category> <category>Regulation</category> <category>Bitcoin</category> <category>Ethereum</category> <category>CFTC</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/ac4ccb9b-ddc1-4cb1-96bc-5fe955bd4adf.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Rollercoaster Ride: $59,000 Peak Followed by a Dip!]]></title> <link>https://www.bitcointoday.app/article/bitcoins-rollercoaster-ride-59-000-peak-followed-by-a-dip</link> <guid>bitcoins-rollercoaster-ride-59-000-peak-followed-by-a-dip</guid> <pubDate>Thu, 11 Jul 2024 18:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin's Rollercoaster Ride: $59,000 Peak Followed by a Dip! The crypto market experienced another wild ride after the release of the latest US Consumer Price Index (CPI) data. **Bitcoin briefly surged to nearly $59,000** following the news of a slight decline in inflation, reaching 3.0% year-on-year in June. This fueled optimism among investors, as controlled inflation could potentially lead to an easing of the Federal Reserve's (Fed) monetary policy and a possible interest rate cut. However, the euphoria was short-lived. **Bitcoin quickly corrected downwards**, trading around $57,700 at the time of writing. This swift reversal can be attributed to several factors, including profit-taking by some investors who capitalized on the sudden rise. **Other factors contributing to the dip include:** * **Ongoing uncertainties about the global economy** * **The recent sale of bitcoins by the German government**, which added to the market supply and exerted downward pressure on prices. **Bitcoin's sensitivity to macroeconomic data is becoming increasingly apparent.** While short-term volatility remains high, the future direction of the crypto market will be heavily influenced by the evolution of US monetary policy in the coming months. **This latest volatility underscores the unpredictable nature of the crypto market.** Traders and investors must remain cautious and well-informed, considering all relevant factors before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>CPI</category> <category>Inflation</category> <category>Fed</category> <enclosure url="https://www.cointribune.com/app/uploads/2024/07/icp-usa-bitcoin.png?nowebp" length="0" type="image/png"/> </item> <item> <title><![CDATA[Germany's $3 Billion Bitcoin Dump Almost Over: What's Next for the Market?]]></title> <link>https://www.bitcointoday.app/article/germanys-3-billion-bitcoin-dump-almost-over-whats-next-for-the-market</link> <guid>germanys-3-billion-bitcoin-dump-almost-over-whats-next-for-the-market</guid> <pubDate>Thu, 11 Jul 2024 20:00:24 GMT</pubDate> <description><![CDATA[## Germany's Bitcoin Sell-Off Nears its End: What Does it Mean for the Market? **Germany's state of Saxony is close to finishing its sale of confiscated bitcoin (BTC) assets.** The state has been moving its bitcoin holdings to crypto exchanges and brokers in multiple batches over the past few weeks, with **another significant transfer of 10,567 BTC (over $600 million) occurring on Thursday**. **This latest sale leaves the authorities with a remaining balance of just 4,925 BTC**, worth approximately $285 million at current prices. **At the current pace, the sell-off is expected to conclude as early as Friday or early next week.** **This news could be a relief for crypto investors who have been concerned about the potential for large-scale selling to pressure bitcoin prices.** Over the past month, **bitcoin has experienced a 15% correction**, which some attributed to fears of supply overhangs from large players like the U.S. government and the Mt. Gox estate. **The looming end of Germany's bitcoin sales could potentially alleviate these fears and provide some much-needed support for the market.** However, it's important to note that **other potential sellers remain in the market**, such as the U.S. government, which holds over $12 billion in seized bitcoin. **While the sell-off could be nearing its end, it remains unclear what impact it will have on bitcoin's price in the long term.** The market is constantly evolving, and other factors such as regulation, macroeconomic conditions, and investor sentiment will continue to play a role in shaping bitcoin's trajectory.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Germany</category> <category>Crypto</category> <category>MarketSentiment</category> <category>Sell-Off</category> <enclosure url="https://www.coindesk.com/resizer/_gYYnfh0lPM0uabDlCwmw44pL0g=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/AK44R3ZXKREVZHS62LBRYEYSTE.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin's $16 Trillion Showdown With Gold: Will Project 2025 Make It Happen?]]></title> <link>https://www.bitcointoday.app/article/bitcoins-16-trillion-showdown-with-gold-will-project-2025-make-it-happen</link> <guid>bitcoins-16-trillion-showdown-with-gold-will-project-2025-make-it-happen</guid> <pubDate>Thu, 11 Jul 2024 02:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin's Potential $16 Trillion Showdown With Gold: A Look at Project 2025 Project 2025, a radical policy plan by the Heritage Foundation, has ignited a firestorm in Washington D.C., particularly concerning its proposed overhaul of the U.S. financial system. This plan, which advocates for abolishing the Federal Reserve and introducing a **commodity-backed dollar**, has sparked considerable interest in **Bitcoin's potential to replace gold** as the dominant store of value. **Project 2025's potential impact on Bitcoin** stems from its proposed **free banking system**, which allows banks to back their notes with various assets, including **Bitcoin and other cryptocurrencies**. This could lead to a scenario where **Bitcoin's market capitalization rivals that of gold, currently valued at $15.7 trillion.** **Several factors** fuel this speculation. The **immutability and fixed supply of Bitcoin** have already propelled its price surge in recent years, attracting Wall Street's attention and even adoption by El Salvador as an official currency. Prominent figures like Larry Fink, CEO of BlackRock, and Chamath Palihapitiya have voiced their belief in Bitcoin's potential to **revolutionize finance and potentially replace gold.** Furthermore, amidst fears of an economic crash and resurgent inflation, analysts predict the Federal Reserve might be forced to restart its money printing, potentially triggering a **collapse of the U.S. dollar and a Bitcoin price boom.** While the future remains uncertain, Project 2025's radical propositions and the growing adoption of Bitcoin create a **fascinating scenario** where Bitcoin could challenge gold's dominance as the leading store of value. Only time will tell if this potential **$16 trillion showdown** will come to fruition.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Gold</category> <category>Project2025</category> <category>Cryptocurrency</category> <category>FreeBanking</category> <enclosure url="https://imageio.forbes.com/specials-images/imageserve/652281c5904439112e9cb52c/0x0.jpg?format=jpg&height=900&width=1600&fit=bounds" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto and Stocks Dive Together: Is This the Start of a Bigger Correction?]]></title> <link>https://www.bitcointoday.app/article/crypto-and-stocks-dive-together-is-this-the-start-of-a-bigger-correction</link> <guid>crypto-and-stocks-dive-together-is-this-the-start-of-a-bigger-correction</guid> <pubDate>Thu, 11 Jul 2024 20:00:24 GMT</pubDate> <description><![CDATA[## Crypto and Stocks Take a Tumble Together: Is This a Sign of Things to Come? While **bitcoin (BTC)** has been struggling for months, with prices dropping over 20% since reaching a record high in March, **U.S. stocks** have been seemingly on an unstoppable upward trajectory, hitting record highs day after day. However, on July 11th, the tide turned. Both **Nasdaq Composite** and the **S&P 500** took a sharp dive, with the Nasdaq dropping by 1.8% and the S&P 500 by 0.9%. **Bitcoin** followed suit, dropping by 0.6% despite earlier gains. This synchronized decline has raised concerns about a potential **broader correction** in the market. Analysts are worried that the **highly overbought U.S. equities** could be on the verge of a significant drop, which could negatively impact cryptocurrencies. **Joel Kruger, market strategist at the LMAX Group**, warns that while the **correlation between crypto and stocks** isn't absolute, a sharp pullback in stocks could weigh on crypto, at least for a short period. **The takeaway**: Keep a close eye on both stock and crypto markets in the coming days, as a potential correction could be brewing, affecting both asset classes.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>StockMarket</category> <category>MarketCorrection</category> <category>Correlation</category> <enclosure url="https://www.coindesk.com/resizer/8mYOV6QjJ5AccI-M--0sen4y0gI=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/45WLVCTQUFEVZDIXHW6PTXVTDE.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin's Potential Boom: US Recession and Short Squeeze]]></title> <link>https://www.bitcointoday.app/article/bitcoins-potential-boom-us-recession-and-short-squeeze</link> <guid>bitcoins-potential-boom-us-recession-and-short-squeeze</guid> <pubDate>Thu, 11 Jul 2024 11:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin's Potential Boom: US Recession and Short Squeeze An analyst at BRN suggests that **Bitcoin could experience a significant surge** if the US recession turns out to be worse than anticipated. They believe that **the recent Consumer Price Index (CPI) data release could trigger a short squeeze** in the market, pushing Bitcoin prices upwards. The analyst predicts that **Bitcoin could break through the $60,000 mark**, potentially squeezing out **$1 billion worth of short positions**. This theory is based on the idea that a **deeper recession** could lead investors to seek safe haven assets like Bitcoin. This, combined with a **short squeeze** triggered by positive economic news, could drive prices higher. **It's important to note that this is just speculation**, and the future of Bitcoin's price remains uncertain. However, the potential for a **recession-fueled boom** and a **short squeeze** is certainly worth considering for Bitcoin investors.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Recession</category> <category>ShortSqueeze</category> <category>CPI</category> <category>Crypto</category> <enclosure url="https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2024/01/bitcoin-eyes-mystery-gID_7.jpeg" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Bitcoin Bull Market Reset: Speculation Index Shows Cooling Off]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bull-market-reset-speculation-index-shows-cooling-off</link> <guid>bitcoin-bull-market-reset-speculation-index-shows-cooling-off</guid> <pubDate>Thu, 11 Jul 2024 12:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Bull Market Reset: Speculation Index Shows Cooling Off The crypto market is showing signs of a potential shift as the speculative frenzy that dominated the first quarter has cooled down. **Capriole Investment's crypto speculation index**, which measures the percentage of altcoins outperforming bitcoin, has **dropped significantly from its January high of nearly 60% to below 10%**. This suggests that **speculative excesses have dissipated**, creating a healthier market environment for bitcoin. **Why is this significant?** * **Bull markets often stall during periods of excessive optimism.** The recent drop in the speculation index could signal the end of this period and the start of a renewed bullish run for bitcoin. * **Speculative washouts are corrective mechanisms.** They help align asset prices with fundamentals and reduce excessive speculation, leading to a more sustainable market in the long run. **Historically, a below-10% speculation index has coincided with sharp bitcoin rallies.** This has been observed in the first half of 2019, late 2020, and the second half of 2023. While the recent decline in the speculation index suggests a potential shift towards a healthier market environment, it is important to note that **the crypto market remains volatile** and can experience sudden price fluctuations. **Key takeaway:** The cooling down of the speculation index could be a positive sign for bitcoin, indicating a potential shift from speculative froth to a more sustainable market environment.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Speculation</category> <category>Altcoins</category> <category>MarketSentiment</category> <enclosure url="https://www.coindesk.com/resizer/dhUAjIWoOlnpIl4WxcbzR24b_6I=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/OGERH3J5TBE2NBLVFZ4NYVQJPE.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Is Code Speech? A Cryptocurrency Case That Could Reshape the Internet]]></title> <link>https://www.bitcointoday.app/article/is-code-speech-a-cryptocurrency-case-that-could-reshape-the-internet</link> <guid>is-code-speech-a-cryptocurrency-case-that-could-reshape-the-internet</guid> <pubDate>Thu, 11 Jul 2024 09:00:26 GMT</pubDate> <description><![CDATA[## The Tornado Cash Case: Code, Privacy, and the First Amendment Roman Storm, a creator of the privacy-focused cryptocurrency mixer Tornado Cash, faces up to 45 years in prison for his alleged role in facilitating money laundering by North Korean hackers. The case raises a fundamental question: **is computer code protected speech under the First Amendment?** ### The Debate Over Code as Speech The US government argues that Storm's actions, by creating and publishing Tornado Cash, constitute criminal conduct, not protected speech. However, Storm's defense team claims that code is akin to speech, citing previous court decisions that recognized software as a form of expression. The core of the debate centers on the **functional aspect of code**. While code can be expressive, it also serves a function – instructing computers to perform tasks. In the case of Tornado Cash, the code anonymizes cryptocurrency transactions, allowing for both legitimate uses (e.g., anonymous donations) and illicit ones (e.g., money laundering). ### The Implications of Criminalizing Code Development If Storm is convicted, it could have far-reaching implications for the development and use of software in the US. It could potentially establish a precedent where **developers can be held criminally liable for the actions of others who use their software, even if the developers did not intend for those actions to occur.** ### Beyond Code: The Future of the Internet This case isn't just about Tornado Cash. It raises broader questions about the **regulation of software in an increasingly decentralized internet**. As software becomes more complex, autonomous, and integrated into our lives, we must grapple with the challenges of balancing security, privacy, and freedom of expression. The outcome of Storm's trial could have a significant impact on the future of the internet, shaping the legal landscape for software development and the role of technology in our society.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>TornadoCash</category> <category>FirstAmendment</category> <category>Code</category> <category>Privacy</category> <category>Cryptocurrency</category> <enclosure url="https://bostonglobe-prod.cdn.arcpublishing.com/resizer/tAAWYIXFNjRwtHXbKATuMzzh5Sw=/506x0/cloudfront-us-east-1.images.arcpublishing.com/bostonglobe/TJPTCN3WMBEJ5I2BIIKU2BQDTM.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Tech Sell-Off Sends Stocks Down: Tesla and Nvidia Lead the Way]]></title> <link>https://www.bitcointoday.app/article/tech-sell-off-sends-stocks-down-tesla-and-nvidia-lead-the-way</link> <guid>tech-sell-off-sends-stocks-down-tesla-and-nvidia-lead-the-way</guid> <pubDate>Thu, 11 Jul 2024 22:00:27 GMT</pubDate> <description><![CDATA[## Tech Takes a Tumble as Inflation Cools The stock market experienced a shift on Thursday, July 11, 2024, as investors rotated out of tech stocks following a surprising drop in consumer prices. This marked the first monthly decline in inflation since 2020, prompting speculation about potential interest rate cuts. The **S&P 500** fell by 0.9%, retreating below the 5,600 mark after reaching a new high the previous day. The tech-heavy **Nasdaq Composite** suffered the most, dropping almost 2%. **Big Tech** giants like **Nvidia** (NVDA), which saw its shares fall by over 5%, were particularly affected. The "Magnificent 7" group of stocks, consisting of tech behemoths, experienced their worst day in nearly a year. **Tesla** (TSLA) shares also took a hit, plummeting over 8% after a Bloomberg report revealed a delay in the unveiling of its robotaxi. This marked the EV maker's worst day since January. ## Inflation Cooling Fuels Rate Cut Bets The June Consumer Price Index (CPI) report showed a 0.1% decline in prices compared to the previous month, with the annual increase slowing to 3%. This unexpectedly favorable inflation data boosted expectations that the Federal Reserve might begin cutting interest rates as early as September. **Interest rate-sensitive sectors** like Real Estate (XLRE) and Utilities (XLU) saw an influx of investment, indicating investor optimism about lower interest rates. ## Earnings Season Begins The upcoming week will see the start of another earnings season, with **JPMorgan Chase** (JPM), **Wells Fargo** (WFC), and **Citigroup** (C) reporting their second-quarter results on Friday.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Tech</category> <category>StockMarket</category> <category>Inflation</category> <category>InterestRates</category> <category>EarningsSeason</category> <enclosure url="https://s.yimg.com/ny/api/res/1.2/x2Ff14IjrOjpl4aoTdueRw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-/https://s.yimg.com/os/creatr-uploaded-images/2024-06/231a9a80-2960-11ef-bdff-3c5d87e01192" length="0" type="image/com/os/creatr-uploaded-images/2024-06/231a9a80-2960-11ef-bdff-3c5d87e01192"/> </item> <item> <title><![CDATA[German Government Continues Bitcoin Dumping: $146 Million in Transfers to Exchanges]]></title> <link>https://www.bitcointoday.app/article/german-government-continues-bitcoin-dumping-146-million-in-transfers-to-exchanges</link> <guid>german-government-continues-bitcoin-dumping-146-million-in-transfers-to-exchanges</guid> <pubDate>Thu, 11 Jul 2024 11:00:24 GMT</pubDate> <description><![CDATA[## German Government Continues Selling Confiscated Bitcoin The German government has continued its strategy of selling off confiscated bitcoin by transferring another **$146.8 million worth of Bitcoin to exchanges**. This follows a similar transfer of **$637.7 million worth of Bitcoin** just the day before. The transactions involved sending **2,527 Bitcoin** to exchanges including **Bitstamp, Kraken, Coinbase, B2C2 Group, and Cumberland DRW**. This brings the total amount of Bitcoin sold by the German government to **over $784.5 million** since they began selling off their confiscated Bitcoin holdings in June. The government currently still holds around **13,025 Bitcoin**, valued at more than **$758 million**. The overall strategy is to offload **50,000 confiscated bitcoins** seized from the now-defunct film piracy website Movie2K in January. This move has been criticized by some, including German Bundestag member and bitcoin advocate **Joana Cotar**, who believes it is **"counterproductive"**. ### Bitcoin Price Impact While the price of Bitcoin is down **less than 1% on the day**, it is down **around 10% since the German authorities began moving funds to exchanges on June 18**. This highlights the potential impact of the German government's sales on the Bitcoin market.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Germany</category> <category>Government</category> <category>MarketSentiment</category> <enclosure url="https://www.tbstat.com/wp/uploads/2024/07/20240709_Germany_News_3-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Hodlers Unfazed by Price Dip: Are They Diamond Hands or Delusional?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-hodlers-unfazed-by-price-dip-are-they-diamond-hands-or-delusional</link> <guid>bitcoin-hodlers-unfazed-by-price-dip-are-they-diamond-hands-or-delusional</guid> <pubDate>Thu, 11 Jul 2024 11:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin Hodlers Hold Strong Despite Price Slump While Bitcoin (BTC) is experiencing its most significant drawdown since the 2022 bear market, long-term holders (those holding BTC for more than 155 days) are displaying remarkable resilience. Despite the recent dip to four-month lows of $53,500, these **diamond hands** are refusing to sell. **Crypto analytics firm Glassnode** highlights the contrast between the current price cycle and previous capitulation events, where **long-term holders** played a significant role in selling off their BTC. This time, however, they are holding onto their coins, indicating a **robust underlying market structure**. **Glassnode's data shows that short-term holders** (those holding BTC for less than 155 days) are **more likely to be impacted by price fluctuations**, and at the recent lows, **they held nearly 2.8 million BTC**, a significant portion of the total supply. **While the market is experiencing a downturn, the resilience of long-term holders suggests a potential for future growth.** However, it's crucial to note that **market sentiment and price action can change rapidly**, and investors should conduct their own research before making any investment decisions. ## Hashrate Capitulation and The Bear Market Bottom **The recent decline in Bitcoin's price has been accompanied by a hashrate capitulation**, with miners reducing their operations. **This event is reminiscent of the events leading up to the bear market bottom in late 2022**. **Quantitative Bitcoin and digital asset fund Capriole Investments founder Charles Edwards** warns that a buy signal could be **at least a couple of weeks away**. **While the current price cycle is challenging, the resilience of long-term holders suggests a potential for future growth.** However, the market remains volatile, and investors should be aware of the risks associated with crypto investments. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Sentiment</category> <category>Hodlers</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/15c1e0c9-0e1a-4d71-a00a-cbaf537209c0.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Ordinals: Why Artist Alexis André Chose Bitcoin for His Latest Generative Art Collection]]></title> <link>https://www.bitcointoday.app/article/bitcoin-ordinals-why-artist-alexis-andre-chose-bitcoin-for-his-latest-generative-art-collection</link> <guid>bitcoin-ordinals-why-artist-alexis-andre-chose-bitcoin-for-his-latest-generative-art-collection</guid> <pubDate>Thu, 11 Jul 2024 19:00:21 GMT</pubDate> <description><![CDATA[## Why Bitcoin Ordinals? An Artist's Perspective Artist Alexis André, known for his successful generative art collection "Friendship Bracelets" on Artblocks, shares his reasons for choosing Bitcoin Ordinals for his latest project, "FrontLine." He emphasizes the protocol's unique features and how they perfectly suit his artistic vision. **On-Chain Integrity:** Unlike other NFT platforms, Bitcoin Ordinals ensures that all assets exist directly on the blockchain. This means no reliance on external links or assets, guaranteeing the authenticity and permanence of the artwork. **Recursion and Parent-Child Relationships:** Ordinals offer innovative solutions for creating complex generative art pieces. The 'recursion' feature allows Ordinals to reference other Ordinals, enabling the creation of libraries and remixes. The 'parent-child relationship' feature allows an artist to link their pieces, establishing provenance and ensuring authenticity. **FrontLine: A Journey of Struggle and Innovation** André's "FrontLine" collection reflects the ever-present struggle between opposing forces, a theme he explores through competing algorithms and a constantly evolving frontline. He views the collection as a testament to the power of innovation and the importance of fighting for what you believe in. **The Appeal of Bitcoin:** André highlights the elegance and simplicity of Ordinals, a welcome change from the complexity of smart contracts. He believes that Bitcoin offers a powerful platform for creative expression and innovation, particularly for generative art. **The Future of Art:** André's work showcases the evolving nature of digital art and its integration with blockchain technology. His decision to embrace Bitcoin Ordinals signifies the growing influence of this protocol on the art world.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Ordinals</category> <category>GenerativeArt</category> <category>NFT</category> <category>Blockchain</category> <enclosure url="https://www.coindesk.com/resizer/m_tSnviYop6ymyc69vj5l1bBASc=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HQM5I2ONC5AQBKZ6G2NHBZ3SSY.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[MicroStrategy's Stock Split: Will it Make Bitcoin More Accessible?]]></title> <link>https://www.bitcointoday.app/article/microstrategys-stock-split-will-it-make-bitcoin-more-accessible</link> <guid>microstrategys-stock-split-will-it-make-bitcoin-more-accessible</guid> <pubDate>Thu, 11 Jul 2024 16:00:29 GMT</pubDate> <description><![CDATA[## MicroStrategy Joins the Stock Split Trend: A Move Towards Bitcoin Accessibility? MicroStrategy, a prominent Bitcoin holder, announced a 10-for-1 stock split, following a similar move by tech giants like Nvidia and Broadcom. The split, effective August 8th, will make **MicroStrategy shares more affordable** for individual investors. This move comes amidst a year of **strong gains for MicroStrategy's stock**, primarily fueled by the **rising price of Bitcoin**. While the split won't change the company's overall value, it could **potentially boost demand** for MicroStrategy shares, potentially **indirectly impacting Bitcoin's market sentiment**. **Some investors** see this as a strategic move by MicroStrategy to **capitalize on the growing interest in Bitcoin**, making it more accessible to a wider audience. However, others remain cautious, noting that the **recent slowdown in Bitcoin's price growth** might influence the effectiveness of the split. ## Key Takeaways: * **MicroStrategy's stock split aims to increase accessibility and potentially stimulate demand for its shares.** * The move follows a recent trend of stock splits by other tech companies, including **Nvidia and Broadcom**, which are also heavily invested in the AI space. * The split could **indirectly influence Bitcoin's market sentiment**, as it potentially attracts new investors to the cryptocurrency. This stock split marks a **significant development** in the intersection of traditional finance and the cryptocurrency world. Only time will tell how effectively MicroStrategy's strategy will play out and how it will influence the broader Bitcoin market.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>MicroStrategy</category> <category>Bitcoin</category> <category>StockSplit</category> <category>Cryptocurrency</category> <category>Investing</category> <enclosure url="https://www.investopedia.com/thmb/wqmFH_GN608vJqrM0asF1OyFX3A=/1500x0/filters:no_upscale():max_bytes(150000):strip_icc()/GettyImages-2039372699-78777b3657d14158a2c2ee30c0773dd2.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Mt. Gox Repayments: A Bitcoin & Bitcoin Cash Trading Opportunity?]]></title> <link>https://www.bitcointoday.app/article/mt-gox-repayments-a-bitcoin-bitcoin-cash-trading-opportunity</link> <guid>mt-gox-repayments-a-bitcoin-bitcoin-cash-trading-opportunity</guid> <pubDate>Thu, 11 Jul 2024 10:00:26 GMT</pubDate> <description><![CDATA[## Mt. Gox Repayments: A Trading Opportunity? The long-awaited repayments to creditors of the defunct Mt. Gox exchange are finally underway, and this has sparked a trading opportunity for savvy investors. **Singapore-based trading firm Presto Labs** suggests a market-neutral strategy that capitalizes on the supply/demand dynamics of both Bitcoin (BTC) and Bitcoin Cash (BCH). **The Strategy:** * **Long BTC:** Investors are expected to hold onto a portion of their BTC repayments, due to their long-term belief in the asset. This suggests **lower selling pressure** for Bitcoin. * **Short BCH:** The BCH investor base is considered weaker, with a higher likelihood of selling their entire repayment. This implies **stronger selling pressure** for Bitcoin Cash. **Presto's analysis** reveals a significant discrepancy in the expected selling pressure between BTC and BCH, with BCH facing a **four times larger** sell-off compared to BTC. This creates a potential **pair trading opportunity** where investors can profit from the relative price movements of the two cryptocurrencies. **Key takeaway:** The Mt. Gox repayments offer a unique scenario where the differing investor sentiment towards BTC and BCH can be leveraged for potential profit. **Disclaimer:** This information is not financial advice. It's crucial to conduct thorough research and understand the risks before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BitcoinCash</category> <category>MtGox</category> <category>CryptoTrading</category> <category>TradingOpportunity</category> <enclosure url="https://www.coindesk.com/resizer/epl1LqmGgPsDSW_3bsKI6w8S_Xw=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PPA5THUL65AFTK67YJ3PWFLDGI.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Surges as US Inflation Shows Signs of Cooling: Is This the Bullish Signal We've Been Waiting For?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-surges-as-us-inflation-shows-signs-of-cooling-is-this-the-bullish-signal-weve-been-waiting-for</link> <guid>bitcoin-surges-as-us-inflation-shows-signs-of-cooling-is-this-the-bullish-signal-weve-been-waiting-for</guid> <pubDate>Thu, 11 Jul 2024 15:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin Price Soars on Unexpected Inflation Slowdown The price of Bitcoin saw a significant surge following the release of the US Consumer Price Index (CPI) data for June. This data revealed a **surprising monthly decrease in consumer prices for the first time since May 2020**, a key indicator that **inflation might be cooling down**. **The market reacted positively** to this news, with Bitcoin's price climbing steadily throughout the day. This development has **sparked optimism among investors**, who are interpreting the CPI data as a potential sign of a **shift in the Federal Reserve's monetary policy**. **Analysts believe** that this slowdown in inflation could **encourage the Fed to ease its aggressive rate hikes**, which have been a major source of pressure on the cryptocurrency market in recent months. **A less hawkish Fed stance could create a more favorable environment for risk assets**, including Bitcoin. However, **it is important to note that the CPI data is just one data point**, and **it remains unclear whether this represents a sustained trend**. **Further data releases** and **actions from the Federal Reserve** will be **crucial in determining the long-term impact on Bitcoin's price**. **Overall, the recent price surge in Bitcoin offers a glimmer of hope for the crypto market**. The slowdown in US inflation suggests that a **more favorable macro environment could be on the horizon**, potentially **boosting investor confidence in Bitcoin and other cryptocurrencies**.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Cryptocurrency</category> <category>Inflation</category> <category>FederalReserve</category> <category>MarketSentiment</category> <enclosure url="https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2021/05/US-dollar-inflation-gID_7.jpeg" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Bitcoin Briefly Spikes After CPI, But Mt. Gox Sell-Off Fears Dampen Gains]]></title> <link>https://www.bitcointoday.app/article/bitcoin-briefly-spikes-after-cpi-but-mt-gox-sell-off-fears-dampen-gains</link> <guid>bitcoin-briefly-spikes-after-cpi-but-mt-gox-sell-off-fears-dampen-gains</guid> <pubDate>Thu, 11 Jul 2024 16:00:28 GMT</pubDate> <description><![CDATA[## Bitcoin's Rollercoaster Ride: CPI Boost Short-Lived Amid Mt. Gox Concerns Bitcoin briefly surged to new one-week highs on July 11 after the US Consumer Price Index (CPI) showed inflation slowing more than expected. However, the gains proved short-lived as the market remains cautious about the upcoming distribution of coins belonging to creditors of the defunct exchange Mt. Gox. **A Quick Spike, Then a Dip** The CPI data, showing a smaller increase in inflation than expected, sparked a positive reaction across crypto and US stock markets. Bitcoin (BTC) rapidly climbed to $59,516 on Bitstamp, erasing $1,000 within an hour. **Mt. Gox Sell-Off Looms** Despite the initial surge, market sentiment remains cautious due to the impending release of Bitcoin held by Mt. Gox creditors. Traders and analysts fear that the sale of these coins could significantly impact the price of Bitcoin. **Traders Remain Wary** While some traders believe that the Mt. Gox sell-off will ultimately benefit the market by distributing coins to a wider range of holders, others are concerned about the short-term impact on price. The $60,000 level remains a key resistance point for Bitcoin. **Looking Ahead** The coming days will be crucial as the market navigates the Mt. Gox distribution and the potential impact on Bitcoin's price. It remains to be seen whether Bitcoin can sustain its recent gains or if the sell-off fears will lead to a further decline. **Disclaimer:** This article does not constitute investment advice. Always do your own research before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Mt.Gox</category> <category>CPI</category> <category>MarketSentiment</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/27ee34b0-174d-457a-ae51-1810641b7d26.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Bottoming Out: A Technical Analysis]]></title> <link>https://www.bitcointoday.app/article/bitcoins-bottoming-out-a-technical-analysis</link> <guid>bitcoins-bottoming-out-a-technical-analysis</guid> <pubDate>Wed, 10 Jul 2024 13:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin: Bottoming Out Or Breaking? (Technical Analysis) **Bitcoin is consolidating in a corrective pattern before potentially advancing to $100,000.** Since Bitcoin (BTC-USD) reached an all-time high near $74,000 in March, it has been consolidating in a sideways corrective pattern. This analysis suggests that this is a **buying opportunity** and dips should be seen as opportunities to enter the market. The recent drop appears to have been the c-wave down of the abcde Elliott Wave sideways triangle pattern. The recent low only exceeded the May 1st low by 5%, indicating a **tiny movement in Bitcoin terms.** Price appears to be recovering now. **Key Indicators:** * The **Bitcoin Fear/Greed Index** shows that fearish market sentiment was at about these current levels at the end of the last such sideways correction, leading to the last big rally. This suggests that sentiment should be fearful enough to put in a bottom here and allow for a recovery rally back near the highs of the range. * Price is in a similar position as in September, when it corrected to the convergence of the 50 and 200 day EMAs and then took off. * **Daily RSI level corrected back into its green support zone** and put in a bull divergence, as it is doing now. * **Weekly RSI corrected to the same level as in September**, a solid technical reset without much price damage. * **Monthly chart shows that the 10-month SMA in blue has been key** and that level is being tested now. If price does dip back into the 55-53k zone, then this analysis would need to be re-evaluated. **Bullish Signals:** * Price above $60,000 would confirm this analysis and suggest a resumption of the long term bull trend. **Potential Drawbacks:** * **Trendline break** and a drop back into the green trend channel after breakout out to the upside. * Additional period of volatility and churn within the range may be needed to finish this corrective pattern, lasting about 2-6 weeks. **Overall:** This technical analysis suggests that Bitcoin is consolidating in a corrective pattern before potentially advancing to $100,000. **Price above $60,000 would confirm this analysis** and suggest a resumption of the long term bull trend.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BTC</category> <category>TechnicalAnalysis</category> <category>Cryptocurrency</category> <category>ElliottWave</category> <enclosure url="https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1368995602/image_1368995602.jpg?io=getty-c-w1536" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Bottoming Out? Traders Face Bear Market Losses as Miners Capitulate]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bottoming-out-traders-face-bear-market-losses-as-miners-capitulate</link> <guid>bitcoin-bottoming-out-traders-face-bear-market-losses-as-miners-capitulate</guid> <pubDate>Wed, 10 Jul 2024 17:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin Traders Face Bear Market Losses: A Sign of the Bottom? Onchain analytics platform CryptoQuant paints a grim picture for Bitcoin (BTC) traders, highlighting similarities to the 2022 bear market. The platform's latest Weekly Report reveals that Bitcoin traders are experiencing unrealized losses of 17%, mirroring the depths of the previous bear market. **Large-volume investors, known as whales, have been offloading coins**, with July alone seeing $1 billion in distributions. This shift from realized profits to losses could signal a potential bottom for Bitcoin's price. **Traders are currently operating with negative margins**, meaning they'd incur losses if they sell. These negative margins, the most severe since the FTX collapse in November 2022, are typically associated with market bottoms. **Bitcoin miners are also in a "capitulation" phase**, struggling to stay afloat after the April block subsidy halving. Smaller miners are exiting the network, while larger miners have offloaded hundreds of millions of dollars worth of Bitcoin since June. **CryptoQuant CEO Ki Young Ju predicts a "boring" next 2-3 months for crypto markets**, advising investors to remain long-term bullish while avoiding excessive risk. **Disclaimer:** This article is not intended as investment advice.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>CryptoQuant</category> <category>BearMarket</category> <category>Traders</category> <category>Miners</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/d35ad649-56fa-408e-b038-551bae2717fd.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Transaction Fees Plunge to 2020 Lows: What's Driving the Drop?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-transaction-fees-plunge-to-2020-lows-whats-driving-the-drop</link> <guid>bitcoin-transaction-fees-plunge-to-2020-lows-whats-driving-the-drop</guid> <pubDate>Wed, 10 Jul 2024 10:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin Transaction Fees Hit Four-Year Low Bitcoin transaction fees plummeted to their lowest level in four years on July 7, reaching just $38.69. This dramatic decrease, last seen during the peak of the COVID-19 pandemic in 2020, is attributed to a combination of factors: * **Reduced Demand for Block Space:** Lower demand for block space, likely driven by decreased trading activity, contributed to the decline in fees. * **Lower Data Volume:** The overall volume of data being processed on the Bitcoin network also decreased, further contributing to lower fees. ## Miners Remain Profitable Despite Lower Fees Despite the decline in transaction fees, Bitcoin miners continue to maintain profitability. This is primarily due to: * **Reduced Network Difficulty:** Lower network difficulty allows miners to process transactions with less computational power, resulting in lower operational costs. **However, signs of **miner capitulation** are emerging, indicating that some miners are struggling to maintain profitability in the current market conditions.** This is evidenced by: * **Declining Hashrate:** The Bitcoin hashrate, a measure of the network's computational power, has experienced a significant decline in recent months, suggesting that some miners are reducing their operations. * **Lower Miner Revenue:** Miners have seen a substantial decrease in daily revenue since the halving, with transaction fees and base block rewards declining. ## Is This a Signal of a Market Bottom? The decline in transaction fees and the emergence of miner capitulation have sparked speculation about a potential market bottom. CryptoQuant analysts have observed similarities between the current situation and the post-FTX collapse period, indicating that the decline in hashrate could signal a turning point in the market.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>TransactionFees</category> <category>Mining</category> <category>Hashrate</category> <category>MarketSentiment</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/29292c46-7369-49f9-8e10-d8c962e20385.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Price on the Brink: Is a 'Summer 2021' Crash Coming?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-price-on-the-brink-is-a-summer-2021-crash-coming</link> <guid>bitcoin-price-on-the-brink-is-a-summer-2021-crash-coming</guid> <pubDate>Wed, 10 Jul 2024 19:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin on the Edge of a Correction? Despite Bitcoin whales accumulating at the fastest rate in over a year, onchain data suggests Bitcoin (BTC) might be headed for a significant correction, reminiscent of the 'Summer 2021' downturn. **Key indicators point towards a potential downturn:** * **Profit & Loss (P&L) index:** Hovering near its 365-day moving average, with a drop below this level historically associated with major corrections. * **Bull-Bear Market Indicator:** Approaching a critical level, mirroring its behavior during previous bear market transitions. * **Tether (USDT) Market Cap:** Stalled growth, indicating limited liquidity for a potential rally. **While whales are accumulating, other factors are raising concern:** * **German government selling and Mt. Gox repayments:** Adding pressure to the already bearish market. * **Institutional support:** While inflows into spot Bitcoin ETFs demonstrate growing mainstream adoption, they might not be enough to offset the selling pressure. **Technical perspective:** * **Resistance at $59,000:** The 200-day simple moving average acts as a key resistance level, and a breach of this level could lead to further losses. **Remember:** This analysis does not constitute investment advice. Always conduct thorough research before making any trading decisions. **Stay tuned for updates on this evolving situation.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketSentiment</category> <category>Correction</category> <category>OnchainData</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/cbbc0545-f9bf-41a3-912b-b1a513bd7e36.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Argentina's Crypto Boom: How Inflation is Driving Adoption]]></title> <link>https://www.bitcointoday.app/article/argentinas-crypto-boom-how-inflation-is-driving-adoption</link> <guid>argentinas-crypto-boom-how-inflation-is-driving-adoption</guid> <pubDate>Wed, 10 Jul 2024 09:00:27 GMT</pubDate> <description><![CDATA[## Argentina's Cryptocurrency Embrace: A Response to Soaring Inflation Argentina, grappling with high inflation, has turned to cryptocurrencies as a refuge for their savings. **According to Forbes, the country boasts the highest cryptocurrency adoption rate in the Western Hemisphere.** This trend is evident in the significant number of Argentinians accessing cryptocurrency exchanges, particularly **Binance, where they dominate 6.9% of global visits.** ### Stablecoins Take Center Stage Unlike other markets, Argentinians prefer **stablecoins like Tether (USDT) to preserve their wealth amidst the depreciating peso.** This preference highlights the desire for stability and a hedge against the eroding value of their national currency. ### A Pro-Crypto President President Javier Milei is a vocal advocate for cryptocurrencies, particularly Bitcoin. His pro-crypto policies include advocating for **free competition of currencies**, allowing citizens to choose their preferred monetary unit, including Bitcoin. ### Learning from El Salvador Argentina has been actively engaging with El Salvador, the first country to legalize Bitcoin, to learn from their experience in crypto adoption and regulation. High-level officials from both countries have met to exchange insights and explore potential collaboration. ### Regulatory Challenges Despite Argentina's openness to cryptocurrencies, **regulation remains a challenge.** The country still struggles to provide secure and regulated cryptocurrency services. **The lack of registration for top crypto exchanges, including Binance, is a significant issue.** ### A Promising Future Despite the regulatory hurdles, Argentina remains a **promising market for Bitcoin and cryptocurrency adoption.** Its ranking in Chainalysis' Global Crypto Adoption Index and the high confidence Argentines have in crypto assets demonstrate a strong future for cryptocurrencies in the country. ### Key Takeaways * Argentina's high inflation has driven a surge in cryptocurrency adoption, particularly stablecoins like USDT. * President Javier Milei is a strong supporter of cryptocurrencies, advocating for free competition of currencies. * Argentina is learning from El Salvador's experience in adopting Bitcoin as legal tender. * Regulatory challenges remain, but the future of cryptocurrencies in Argentina looks promising.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Argentina</category> <category>Cryptocurrency</category> <category>Inflation</category> <category>Bitcoin</category> <category>Stablecoins</category> <enclosure url="https://blockonomi.com/wp-content/uploads/2024/07/argentina.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Peter Schiff Predicts Bitcoin ETF Investors Will Be 'Bag Holders' as Smart Money Sells]]></title> <link>https://www.bitcointoday.app/article/peter-schiff-predicts-bitcoin-etf-investors-will-be-bag-holders-as-smart-money-sells</link> <guid>peter-schiff-predicts-bitcoin-etf-investors-will-be-bag-holders-as-smart-money-sells</guid> <pubDate>Wed, 10 Jul 2024 12:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Whales Are Winning, Says Peter Schiff Peter Schiff, a well-known Bitcoin critic, is warning that Bitcoin ETF investors are being set up to lose money. He believes that **“smart money” is selling Bitcoin in the spot market while **“**dumb money**”** is buying it through ETFs. Schiff claims that **Bitcoin whales** are manipulating the market, taking advantage of ETF investors who are likely to be left holding the bag when the price drops. He predicts that a decline below $38,000 will push “100% of Bitcoin ETF buyers” into the red, leading to a wave of selling. ### Schiff's Concerns Amidst Bitcoin's Volatility This statement comes at a time when Bitcoin is facing significant pressure. The ongoing stress is compounded by potential sell-offs of billions of dollars worth of Bitcoin from the Tokyo-based cryptocurrency exchange Mt. Gox. Despite the market volatility, Schiff's claims are worth noting. He has consistently been vocal about his bearish outlook on Bitcoin, predicting further declines for the world's largest cryptocurrency. **It remains to be seen whether Schiff's predictions will come true, but his statements underscore the risks associated with investing in Bitcoin and ETFs.** ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>PeterSchiff</category> <category>ETF</category> <category>Cryptocurrency</category> <category>Whale</category> <enclosure url="https://media.zenfs.com/en/Benzinga/0ed9ec9dcefa3df7ffbc582ed3d4743c" length="0" type="image//en/Benzinga/0ed9ec9dcefa3df7ffbc582ed3d4743c"/> </item> <item> <title><![CDATA[BitMEX Pleads Guilty to Money Laundering Charges: A Major Blow to the Crypto Exchange]]></title> <link>https://www.bitcointoday.app/article/bitmex-pleads-guilty-to-money-laundering-charges-a-major-blow-to-the-crypto-exchange</link> <guid>bitmex-pleads-guilty-to-money-laundering-charges-a-major-blow-to-the-crypto-exchange</guid> <pubDate>Wed, 10 Jul 2024 23:00:25 GMT</pubDate> <description><![CDATA[## BitMEX Pleads Guilty to Violating Bank Secrecy Act Cryptocurrency exchange **BitMEX** has admitted to violating the **Bank Secrecy Act** by failing to implement adequate **anti-money laundering (AML)** measures. This guilty plea comes after a long-standing legal battle with the U.S. government, which began in 2022. **Damian Williams**, U.S. Attorney for the Southern District of New York, stated that BitMEX operated in the U.S. without a proper AML program despite being one of the leading cryptocurrency derivatives platforms from 2015 to 2020. The exchange's actions exposed it as a potential facilitator for large-scale money laundering and sanctions evasion, posing a significant threat to the financial system. BitMEX's legal troubles in the U.S. have been ongoing since 2022. In late 2022, prosecutors sought a 12-month probation sentence for **Greg Dwyer**, BitMEX's former head of business development, for violating the Bank Secrecy Act. Earlier that year, **Arthur Hayes**, one of BitMEX's founders, was sentenced to six months of home detention after pleading guilty to similar charges. This guilty plea highlights the importance of compliance with U.S. regulations for cryptocurrency companies, particularly those operating in the American market. BitMEX's failure to establish and maintain a proper AML program serves as a stark warning to other exchanges and platforms to prioritize compliance. The U.S. government's crackdown on cryptocurrency companies that fail to adhere to anti-money laundering regulations continues. This case follows a similar conviction of **Changpeng Zhao**, former head of Binance, the world's largest cryptocurrency exchange, who was sentenced to four months in federal prison for failing to implement appropriate AML protocols. BitMEX's guilty plea underscores the evolving regulatory landscape for the cryptocurrency industry and the need for exchanges to take AML compliance seriously.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>BitMEX</category> <category>AML</category> <category>CryptoRegulation</category> <category>Cryptocurrency</category> <category>MoneyLaundering</category> <enclosure url="https://www.tbstat.com/wp/uploads/2023/03/20230315_BitMex_3-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto's Rise in the Arab World: From Bitcoin Casinos to Blockchain Finance]]></title> <link>https://www.bitcointoday.app/article/cryptos-rise-in-the-arab-world-from-bitcoin-casinos-to-blockchain-finance</link> <guid>cryptos-rise-in-the-arab-world-from-bitcoin-casinos-to-blockchain-finance</guid> <pubDate>Wed, 10 Jul 2024 10:00:24 GMT</pubDate> <description><![CDATA[## Cryptocurrencies: A New Paradigm in the Arab World The Arab world is experiencing a rapid rise in cryptocurrency adoption, driven by several key factors. ### **Economic Diversification and Youthful Demographics** Many Gulf Cooperation Council (GCC) countries are actively seeking economic diversification beyond oil. Cryptocurrencies and blockchain technology offer a promising avenue for new financial models and investment opportunities. The region's young population is eager to embrace new technologies, leading to a surge in the popularity of **cryptocurrency casinos** that provide secure and anonymous gaming experiences. ### **Financial Inclusion and Reduced Fees** Cryptocurrencies offer a pathway to financial inclusion, particularly in regions with limited traditional banking services. The lower transaction fees associated with Bitcoin compared to traditional online casinos make it an attractive option for players. ### **Governmental Support and Regulation** The UAE has taken a proactive approach to regulating the cryptocurrency sector, establishing a comprehensive legal framework through the Abu Dhabi Global Market (ADGM). Saudi Arabia has shown interest in blockchain technology, particularly for financial services, with partnerships such as the one between the Saudi Arabian Monetary Authority (SAMA) and Ripple. Egypt, on the other hand, has adopted a more cautious stance, but interest in cryptocurrencies is growing among the population. ### **Key Statistics and Opportunities** The UAE is projected to have a digital payments market value of USD 29.75 billion by 2024, highlighting the rapid growth of digital currencies in the region. The UAE recently completed its first cross-border central bank digital currency (CBDC) transaction on the mBridge platform. Saudi Aramco, the world's largest oil company, is exploring the use of blockchain technology to improve operational efficiency and transparency. ### **Challenges and Future Outlook** Despite the opportunities, challenges remain. Regulatory uncertainty, the need for increased education and awareness about cryptocurrencies, and security concerns are crucial aspects to address. The Arab world is poised to become a major player in the global cryptocurrency market. By embracing the opportunities, leveraging technological advancements, and addressing the challenges, traders and businesses can navigate the cryptocurrency landscape with confidence.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>Blockchain</category> <category>ArabWorld</category> <category>FinancialInclusion</category> <category>Technology</category> <enclosure url="https://www.crypto-reporter.com/wp-content/uploads/2024/07/bitcoin_108.jpeg" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Bitcoin ETFs Surge: $654 Million Inflows in 3 Days, But Will It Push Bitcoin Past $60,000?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-etfs-surge-654-million-inflows-in-3-days-but-will-it-push-bitcoin-past-60-000</link> <guid>bitcoin-etfs-surge-654-million-inflows-in-3-days-but-will-it-push-bitcoin-past-60-000</guid> <pubDate>Wed, 10 Jul 2024 08:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin ETFs See Massive Inflows, But Can They Boost Price? **Bitcoin exchange-traded funds (ETFs)** have been attracting significant investment, with **$654 million in net inflows** over the past three trading days, starting July 5th. **BlackRock's iShares Bitcoin Trust** and **Fidelity's Wise Origin Bitcoin Fund** led the charge, bringing in **$121 million** and **$91 million**, respectively, on July 9th alone. This surge in ETF investment follows a strong performance in the months leading up to March when Bitcoin reached an all-time high. **Sina G, co-founder of 21st Capital**, believes ETFs played a significant role in that price rally, stating, "**The run-up from $16K to $73K was largely driven by the ETFs, following a buy-the-rumor buy-the-news phenomenon.**" However, **despite these hefty inflows, Bitcoin has struggled to reclaim the $60,000 mark** since July 4th, trading at $59,165 at the time of writing. Some analysts remain optimistic, hoping the ETFs will provide the much-needed push to drive prices higher. ## German Authorities Sell Off Bitcoin Seizures, Counteracting ETF Inflows While ETFs are attracting investment, **Germany's Bundeskriminalamt (BKA) has been selling off nearly 50,000 Bitcoin** seized in January during a probe into a movie pirating website. **Since July 5th, the BKA's wallet has reduced its BTC holdings by over $850 million**, with hundreds of millions transferred to exchanges and market makers. **This selling pressure from the BKA could be offsetting the positive impact of ETF inflows on Bitcoin's price.** It remains to be seen whether the bullish sentiment fueled by ETF investment will ultimately prevail over the selling pressure from the German authorities.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>ETF</category> <category>MarketSentiment</category> <category>BlackRock</category> <category>Germany</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/8e6dfe50-f603-44a5-901d-3eb1b426bc78.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Surges Above $59K, But Experts Warn Rally Might Be Short-Lived]]></title> <link>https://www.bitcointoday.app/article/bitcoin-surges-above-59k-but-experts-warn-rally-might-be-short-lived</link> <guid>bitcoin-surges-above-59k-but-experts-warn-rally-might-be-short-lived</guid> <pubDate>Wed, 10 Jul 2024 13:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Climbs Back Above $59K, But Rally Could Be Short-Lived Bitcoin experienced a significant rally, reaching over $59,000 in the early European morning, extending a recovery from below $54,000 at the start of the week. While some analysts believe this could push BTC towards reclaiming $60,000, others warn of a short-lived rally. **Markus Thielen, founder of 10x Research, stated that the $55,000-$56,000 range is forming a base from a technical analysis perspective. However, he cautions that due to medium-term technical damage, this rally is likely to be a short-term tactical bullish countertrend rally.** At the time of writing, bitcoin was trading at just under $58,500, an increase of 1.7% in the last 24 hours. The broader digital asset market, as measured by the CoinDesk 20 Index, rose about 1.65% during this period. ### Celestia's TIA Sees Significant Gains, But Traders Remain Skeptical The native cryptocurrency of blockchain network Celestia, TIA, has witnessed a remarkable 25% surge to $7.30 this week, marking the largest gain among the top 100 digital assets by market value. However, traders seem to be skeptical about this surge and are taking bearish bets by shorting perpetual futures tied to TIA. This sentiment is reflected in the negative funding rates across exchanges, reaching levels last seen in January, indicating a strong bias for bearish bets. ### Bitcoin Miners Emerge as Attractive Partners for AI Data Centers According to a recent research report by Bernstein, Bitcoin miners are becoming attractive partners in building AI data centers. Their readily available power supplies and operating capabilities make them ideal collaborators in this sector. Recent AI deals like Core Scientific’s 12-year agreement with CoreWeave and Coatue Management’s $150 million investment in Hut 8 have served as key catalysts for the sector. Bernstein has initiated coverage of miner Iris Energy (IREN) with an outperform rating and a $26 price target, as well as Core Scientific with an outperform rating and a $17 objective. CORZ and IREN saw pre-market trading gains of around 3.5% and 6.5%, respectively. ### Meme Coins on the Rise Solana-based MONK has displaced dogwifwhat (WIF) as the fourth largest meme coin by market value. BONK's treasury recently proposed to burn 84 billion coins, propelling its market value past WIF.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketSentiment</category> <category>BTC</category> <category>Celestia</category> <enclosure url="https://www.coindesk.com/resizer/acAkGZOlE6IjOfoGyYNa1RgDkcQ=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/D2NCZMCIXVBULODNGV72A3X4A4.JPG" length="0" type="image/JPG"/> </item> <item> <title><![CDATA[Bitcoin Miners Pivot to AI: Big Opportunity for Data Centers? 🤔]]></title> <link>https://www.bitcointoday.app/article/bitcoin-miners-pivot-to-ai-big-opportunity-for-data-centers-</link> <guid>bitcoin-miners-pivot-to-ai-big-opportunity-for-data-centers-</guid> <pubDate>Wed, 10 Jul 2024 17:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin Miners Powering AI Revolution? 💡 **Bernstein**, a renowned research firm, sees a huge opportunity for **bitcoin miners** to transition into **AI data centers**. Why? Their existing **electrical power infrastructure** and **operational expertise** make them ideal partners for building out AI data centers. **Key Insights:** * **Massive Growth Potential:** The bitcoin miner pipeline for available electrical power is expected to reach **12 gigawatts** by **2027**, significantly exceeding the current **6 GW**. * **Overcoming Interconnection Backlog:** Bitcoin miners offer a **quick solution** to the **utility interconnection backlog** that's hindering many AI data center projects. * **AI Data Center Transition:** Bernstein forecasts that **20% of bitcoin miner's power capacity** will shift to AI by **2027**. **Companies in the Spotlight:** * **Iris Energy (IREN):** With a strong power pipeline and robust data center operations, Bernstein projects **15%** of its capacity will be used for AI data centers. They have a **$26 price target**, representing a **103% upside**. * **Core Scientific (CORZ):** Bernstein highlights their **12-year, $4.7 billion contract** with **CoreWeave** as evidence of their leadership in the AI data center co-hosting model. They have a **$17 price target**, representing a **77% upside**. **Other Key Points:** * **Bitcoin miners' edge:** High power density racks, cooling infrastructure, and data center operating capabilities make them ideal for retrofitting into AI data centers. * **Stock Performance:** Both IREN and CORZ stocks have seen significant gains in 2024, suggesting investor interest in this trend. **This shift could be a game-changer for both the bitcoin mining industry and the development of AI technology.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>AI</category> <category>DataCenters</category> <category>Mining</category> <category>Investment</category> <enclosure url="https://www.investors.com/wp-content/uploads/2018/02/Stock-Bitcoin-37-adobe.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Mining: The UK's Secret Weapon for Renewable Energy?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-mining-the-uks-secret-weapon-for-renewable-energy</link> <guid>bitcoin-mining-the-uks-secret-weapon-for-renewable-energy</guid> <pubDate>Wed, 10 Jul 2024 16:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin Mining: A Solution for the UK's Renewable Energy Challenges? Bitcoin mining, often seen as an energy-intensive process, could be the key to solving the UK's renewable energy challenges, according to Bitcoin Policy UK. The organization argues that **Bitcoin mining can act as a flexible load, absorbing excess energy from renewable sources and providing a stable market for renewable energy providers.** **How does it work?** Bitcoin miners are major electricity consumers. They can adjust their operations to match the intermittent supply of renewable energy, ensuring that surplus energy is used and not wasted. This creates a **'floor price' for renewable energy**, guaranteeing a buyer for all the energy produced, making renewable projects more viable. **The UK's New Government and Bitcoin:** With the recent election of a new Labour government, Bitcoin Policy UK is pushing for a policy shift that promotes the use of Bitcoin mining to support renewable energy infrastructure. The government's focus on green industries and a National Wealth Fund presents an opportunity to incorporate Bitcoin mining as a key element in their strategy. **Beyond Energy:** Bitcoin mining's potential goes beyond energy. The report highlights the **untapped potential of the industry in stabilizing and monetizing sustainable power grids, reducing methane and biogas emissions by co-locating mining operations on farms and near landfills.** This shift in perspective could **revolutionize the UK's energy landscape**, while also positioning the country as a leader in the Bitcoin mining space. However, the success of this strategy hinges on the new government's willingness to embrace Bitcoin mining and create an environment that fosters innovation and responsible growth within the industry.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>RenewableEnergy</category> <category>UK</category> <category>Mining</category> <category>Government</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/e1a01ab8-b984-4fe4-8b9c-ae25a26acedc.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Price Drop: Is the Panic Overblown? NYDIG Thinks So]]></title> <link>https://www.bitcointoday.app/article/bitcoins-price-drop-is-the-panic-overblown-nydig-thinks-so</link> <guid>bitcoins-price-drop-is-the-panic-overblown-nydig-thinks-so</guid> <pubDate>Wed, 10 Jul 2024 21:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin's Price Drop: Is the Panic Overblown? NYDIG Thinks So Bitcoin (BTC) has taken a nosedive in recent weeks, falling by 15% in the past month. Many market observers point the finger at selling pressure from bitcoin miners, Mt. Gox refunds, and the German state of Saxony. But **Greg Cipolaro, research head at NYDIG**, believes the case for these factors driving the price decline is overstated. In a recent note, he argues that **while emotions may dominate the short term, the actual price impact from potential selling is likely overblown.** **Cipolaro highlights several key points:** * **Mt. Gox, Saxony, and US Government Sales:** While fears abound about these entities selling their combined $20 billion worth of Bitcoin, even if they sold everything at once, the price impact would be less than what we've seen. NYDIG's analysis, based on Bloomberg's Transaction Cost Analysis (TCA), suggests that the decline in BTC would be shallower than it would be for stocks with similar block sales. * **Miner Capitulation:** Recent reports about miners selling their Bitcoin holdings en masse after the halving event are not only exaggerated but also inaccurate in some cases. **NYDIG's data shows that publicly listed mining companies actually increased their Bitcoin holdings in June.** While there was a slight increase in BTC sold last month, it's still below levels seen earlier this year and last year. * **Blockchain Data:** Cipolaro warns against relying solely on blockchain data about miners moving assets without understanding the context. **Just because Bitcoin moves to an exchange or OTC desk doesn't necessarily mean it's being sold.** It could be used as collateral, lent out, or even just moved internally. **Cipolaro concludes that the recent price drop is likely driven by irrational fears rather than fundamental factors.** He believes this presents an interesting opportunity for rational investors to buy into Bitcoin at a discount. **Disclaimer:** CoinDesk is owned by the Bullish group, which is majority-owned by Block.one. While CoinDesk operates independently, its employees may receive options in the Bullish group as part of their compensation.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>PriceDrop</category> <category>NYDIG</category> <category>MarketSentiment</category> <category>Crypto</category> <enclosure url="https://www.coindesk.com/resizer/59AwIq3UDi-ZqFRVLX7vikGdzMQ=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/GH2V6GZWSFBMXMMEPA5RUPRMIQ.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Double Down on Bitcoin Volatility: New ETFs Offer 200% Exposure]]></title> <link>https://www.bitcointoday.app/article/double-down-on-bitcoin-volatility-new-etfs-offer-200-exposure</link> <guid>double-down-on-bitcoin-volatility-new-etfs-offer-200-exposure</guid> <pubDate>Wed, 10 Jul 2024 18:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Volatility Gets a Boost: 200% Leveraged ETFs Arrive High-conviction Bitcoin traders now have a new way to play the market's volatility: **200% leveraged ETFs**. REX Shares, known for its leveraged tech stock ETFs, has launched two new funds: * **T-REX 2X Long Bitcoin Daily Target ETF (BTCL)**: Aims to deliver 2x the daily return of Bitcoin's price. * **T-REX 2X Inverse Bitcoin Daily Target ETF (BTCZ)**: Aims to deliver 2x the inverse daily return of Bitcoin's price. These ETFs **don't directly hold Bitcoin**, instead using financial derivatives to achieve their leverage goals. This launch comes amidst a recent surge in Bitcoin ETF inflows, fueled by recent price dips and institutional interest. ### The Leveraged Trap: A Potential Pitfall While offering high potential returns, leveraged ETFs also come with risks. **Leveraged ETFs are known to underperform the underlying asset** in the long run due to the 'constant leverage trap', where funds constantly buy low and sell high to maintain their leverage target. Additionally, their **high management fees (0.95% for these new ETFs)** can further impact returns. **These new ETFs represent an exciting development in the Bitcoin ETF landscape, offering a new avenue for traders to capitalize on price volatility. However, investors must be aware of the risks associated with leveraged ETFs before investing.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>ETF</category> <category>Leveraged</category> <category>Volatility</category> <category>Trading</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/25a44eb9-40f1-46a3-ae9b-c76d2270bad1.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Cryptocurrency Scams are Exploding: How to Protect Yourself from Cybercriminals]]></title> <link>https://www.bitcointoday.app/article/cryptocurrency-scams-are-exploding-how-to-protect-yourself-from-cybercriminals</link> <guid>cryptocurrency-scams-are-exploding-how-to-protect-yourself-from-cybercriminals</guid> <pubDate>Wed, 10 Jul 2024 12:00:24 GMT</pubDate> <description><![CDATA[## Cryptocurrency Scams are on the Rise: How to Protect Yourself Cryptocurrency, like Bitcoin, is making headlines, but so are the scams that are becoming increasingly common. **Be aware of these tactics used by scammers:** * **Government Impersonators:** Claiming you owe taxes or fines. * **Online Dating Scams:** A new online love interest asks for money to help with an "emergency" that you can resolve by sending cryptocurrency. * **Job Scams:** Requesting payment for job-related expenses. * **Investment Scams:** Promising guaranteed returns with little to no risk. * **Blackmail Scams:** Threatening to release compromising information unless you pay in cryptocurrency. **Here's why scammers love cryptocurrency:** * **Lack of Legal Protections:** Unlike credit cards, cryptocurrency payments don’t offer legal safeguards. * **Irreversible Payments:** Once you send money via Bitcoin or other cryptocurrency, it’s almost impossible to get it back. * **Public Confusion:** Many people still don’t fully understand how cryptocurrency works, making them susceptible to scams. **Here's how to protect yourself:** * **Only Scammers Demand Cryptocurrency:** Legitimate businesses and government agencies never ask for cryptocurrency payments (unless you are buying other cryptocurrency). * **Avoid Job-Related Fees:** Don’t ever pay any fees to secure a job. * **Be Cautious with Online Romances:** If someone you meet online asks for money, it’s likely a scam. * **No Guarantees in Investments:** Be skeptical of anyone guaranteeing profits or big returns, especially with cryptocurrencies. It is a very volatile investment vehicle. * **Don't Transfer Money on Demand:** Your money is safe where it is. Don’t move it based on a call or urgent demand. * **Report the Scam to BBB’s Scamtracker** to warn others. **Remember, if something seems too good to be true, it probably is.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>Scams</category> <category>Cybersecurity</category> <category>Bitcoin</category> <category>OnlineSafety</category> <enclosure url="https://www.commercialappeal.com/gcdn/authoring/authoring-images/2024/03/28/USAT/73126010007-2925.JPG?crop=899,506,x0,y46&width=899&height=506&format=pjpg&auto=webp" length="0" type="image/JPG"/> </item> <item> <title><![CDATA[Bitcoin at a Crossroads: Bear Market Looms as Whales Accumulate]]></title> <link>https://www.bitcointoday.app/article/bitcoin-at-a-crossroads-bear-market-looms-as-whales-accumulate</link> <guid>bitcoin-at-a-crossroads-bear-market-looms-as-whales-accumulate</guid> <pubDate>Wed, 10 Jul 2024 16:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin's Uncertain Future: Bearish Signs and Whale Accumulation Bitcoin (BTC) is at a crucial juncture, with conflicting signals emerging. While several indicators suggest a potential bear market on the horizon, large investors (whales) are accumulating Bitcoin at the fastest rate in over a year. **Bearish Signals:** * **CryptoQuant's profit and loss index** is hovering near its 365-day moving average, which historically has preceded major market corrections. * **Tether's market cap growth**, often a driving force behind bull markets, has stalled. * **CryptoQuant's bull-bear market cycle indicator** is approaching a level that suggests a potential descent into a bear market. **Bullish Factors:** * **Bitcoin whales** have been aggressively accumulating, increasing their holdings by 6.3% in the past month, the highest rate since April 2023. * **Germany's selling of seized Bitcoin** is nearing completion, potentially removing downward pressure on the market. * **An Ether ETF approval in the U.S.** and the continued growth of U.S. stock indices, which Bitcoin has historically correlated with, suggest continued upside potential in the long term. The current market situation remains complex, with both bullish and bearish signals present. The future direction of Bitcoin will depend on how these factors play out in the coming months.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketAnalysis</category> <category>WhaleAccumulation</category> <category>TechnicalIndicators</category> <enclosure url="https://www.coindesk.com/resizer/8ZnVuxpjJIXbVf877jV4dpyC5dY=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/PUNTBRUD3RF4LGMR6T53VOSFV4.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Miners Go AI-Powered: How This Could Drive Their Shares Higher]]></title> <link>https://www.bitcointoday.app/article/bitcoin-miners-go-ai-powered-how-this-could-drive-their-shares-higher</link> <guid>bitcoin-miners-go-ai-powered-how-this-could-drive-their-shares-higher</guid> <pubDate>Wed, 10 Jul 2024 20:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Miners Embrace AI: A New Trend Fueling Share Growth Despite bitcoin's recent dip, shares of bitcoin miners embracing artificial intelligence (AI) have been performing remarkably well. **Why is AI the New Hot Topic for Bitcoin Miners?** * **Repurposing Data Centers:** Bitcoin miners are utilizing their existing data centers, which are power-intensive, for high-performance computing (HPC) applications crucial for AI. This allows them to capitalize on the surging demand for AI infrastructure. * **Power and Data Center Needs:** AI requires massive amounts of power and data center capacity. Miners, with their existing infrastructure, are well-positioned to meet these demands. **Notable Examples:** * **Core Scientific:** This bitcoin mining firm, recently emerged from bankruptcy, is offering its infrastructure to AI hyperscaler CoreWeave. * **TeraWulf:** This miner is expanding into AI and developing a high-performance computing project in New York. * **Hut 8:** This company received a $150 million investment to build AI infrastructure. **Positive Performance:** * **Hut 8:** Shares surged 44% over the past 30 days. * **TeraWulf:** Stock climbed 32% in the same period. * **CoreScientific:** Shares gained 1.5% over the past 30 days. **Contrast:** * **Riot Platforms:** A major bitcoin miner not yet involved in AI saw a 14% decline in its shares over the past 30 days. ## The Crypto M&A Boom The second quarter of 2023 saw a record high of $2.7 billion in crypto mergers and acquisitions (M&A) deals. Robinhood's acquisition of Bitstamp exemplifies a trend of established companies acquiring crypto businesses. **Driving Factors:** * **Favorable Regulatory Environment:** The U.S. regulatory landscape is becoming more supportive of the crypto industry, making it easier for traditional companies to invest in blockchain technology. **Future Outlook:** We are likely to witness a surge in non-crypto companies acquiring crypto businesses in the coming months. ## Key Takeaways * AI is becoming a crucial driver for bitcoin miners, offering them a new revenue stream and driving their share prices higher. * The crypto M&A market is experiencing a surge, fueled by a favorable regulatory environment.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>AI</category> <category>Crypto</category> <category>Mining</category> <category>M&amp;A</category> <enclosure url="https://images.mktw.net/im-783732/social" length="0" type="image//im-783732/social"/> </item> <item> <title><![CDATA[Cryptocurrency Analyst: How to Land a High-Paying Job in the Digital Finance World]]></title> <link>https://www.bitcointoday.app/article/cryptocurrency-analyst-how-to-land-a-high-paying-job-in-the-digital-finance-world</link> <guid>cryptocurrency-analyst-how-to-land-a-high-paying-job-in-the-digital-finance-world</guid> <pubDate>Wed, 10 Jul 2024 14:00:25 GMT</pubDate> <description><![CDATA[## **Cryptocurrency Analyst: A Hot Career in Digital Finance** With the rapid growth of cryptocurrencies, skilled analysts are in high demand. If you have a background in business, finance, or blockchain technology, this career path could be perfect for you. **What Does a Cryptocurrency Analyst Do?** A cryptocurrency analyst is responsible for understanding the complex cryptocurrency market. This involves: * **Market Analysis:** They meticulously study price charts, trading volumes, and other key indicators to identify patterns and predict future price movements. * **Trend Forecasting:** By analyzing historical data and current market conditions, they can forecast the factors driving the market, such as investor sentiment and macroeconomic events. **How to Become a Cryptocurrency Analyst:** To succeed in this field, most companies prioritize candidates with a strong foundation in: * **Business:** Understanding financial principles and market dynamics is crucial. * **Finance:** Expertise in financial analysis and investment strategies is essential. * **Blockchain Technology:** A deep understanding of the underlying technology behind cryptocurrencies is key. While a bachelor's degree in one of these fields is typically required, some companies may consider relevant experience and offer junior positions to those with advanced education. **Earning Potential:** The salary for cryptocurrency analysts can be quite lucrative, ranging from **$112,000 to $205,000 per year**, according to Glassdoor. This high earning potential makes it an attractive career option for those seeking a rewarding and lucrative path in the world of digital finance.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>Analyst</category> <category>Finance</category> <category>Blockchain</category> <category>Career</category> <enclosure url="https://images.unsplash.com/photo-1629339941379-da30348cdba6?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wxMTc3M3wwfDF8c2VhcmNofDI3fHxjcnlwdG9jdXJyZW5jeXxlbnwwfHx8fDE3MjA1MjI3Mzd8MA&ixlib=rb-4.0.3&q=80&w=2000" length="0" type="image//photo-1629339941379-da30348cdba6"/> </item> <item> <title><![CDATA[Bitcoin Privacy Activist Samourai Developer Arrested: What We Know]]></title> <link>https://www.bitcointoday.app/article/bitcoin-privacy-activist-samourai-developer-arrested-what-we-know</link> <guid>bitcoin-privacy-activist-samourai-developer-arrested-what-we-know</guid> <pubDate>Wed, 10 Jul 2024 22:00:28 GMT</pubDate> <description><![CDATA[## Samourai Wallet Developer Arrested: What We Know **William Lonergan Hill**, a developer for the privacy-focused Bitcoin wallet **Samourai Wallet**, has been arrested and appeared in court on July 10, 2024. This follows the earlier arrest of his former partner at Samourai, **Keonne Rodriguez**, in May. The US Department of Justice (DoJ) is leading the case against Hill and Rodriguez, and the prosecution revealed key details during the hearing: * **Hill was arraigned on July 9, 2024** after being extradited from Portugal. * **The DoJ seized 27 electronic devices from Hill in Portugal**. The FBI is currently extracting and reviewing information from these devices. * **The DoJ has already produced discovery to Rodriguez** and will do so for Hill once the FBI completes their analysis. * **Hill will be released on bail**, allowing him to live in Lisbon, Portugal, but he will have to return to New York for court appearances. * **Hill will be required to wear an ankle bracelet** while on bail, monitored by the FBI. The next hearing is scheduled for **September 10, 2024**, where the DoJ will present further discovery. **Key Terms:** * **Samourai Wallet:** A Bitcoin wallet known for its privacy-enhancing features. * **William Lonergan Hill:** Developer of the Samourai Wallet. * **Keonne Rodriguez:** Former partner of Hill at Samourai, also a co-defendant in the case. * **US Department of Justice (DoJ):** The agency leading the investigation and prosecution of Hill and Rodriguez. * **Discovery:** Evidence and information exchanged between the prosecution and the defense during a legal case. * **Bail:** A financial guarantee that ensures a defendant's appearance in court. **The case raises concerns about the implications of privacy-focused Bitcoin wallets and the ongoing legal battle against individuals who champion Bitcoin privacy.** ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Privacy</category> <category>Samourai</category> <category>DoJ</category> <category>Crypto</category> <enclosure url="https://bitcoinmagazine.com/.image/ar_1.91%2Cc_fill%2Ccs_srgb%2Cg_faces:center%2Cq_auto:good%2Cw_1200/MjA3NzU3ODU3NTA2OTkzNjM4/landscape-bm-editorial-template-1.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Tesla's 10-Day Winning Streak & Bitcoin's Slump: Market Takeaways]]></title> <link>https://www.bitcointoday.app/article/teslas-10-day-winning-streak-bitcoins-slump-market-takeaways</link> <guid>teslas-10-day-winning-streak-bitcoins-slump-market-takeaways</guid> <pubDate>Wed, 10 Jul 2024 01:00:25 GMT</pubDate> <description><![CDATA[## Tesla's Hot Streak Continues Tesla (TSLA) closed higher for its **10th consecutive trading day**, defying odds and continuing its hot streak. The stock has broken out of a negative trend line and is now on a 53-day rally, showing encouraging signs from a short-term perspective. While reaching $300 might be a stretch, the stock could squeeze there as it has defied odds before. ## Holding Stocks Overnight vs. Day Trading Data suggests that holding stocks overnight can yield greater returns than trading during the day. This is because the market is only open for 6.5 hours per day, leaving ample time for global events to impact prices while the market is closed. Over the past 30 years, the overnight market has consistently gained more than the day market during bull markets. ## Bitcoin's Slump at a Crucial Level Bitcoin (BTC-USD) is currently trading below the crucial $60,000 level, taking longer to recover than previous downturns. This extended consolidation period is concerning, as Bitcoin needs to break above $60,000 to avoid potential resistance and continue its upward trajectory. If it fails to break through, a downward trend could follow. Ethereum and Solana are also showing similar patterns, with both testing their lower boundaries. Overall, the crypto market is still in a bullish sentiment, but Bitcoin's performance at $60,000 will be a key indicator. ## Market Sentiment While the market is overall bullish, Bitcoin's performance at $60,000 is a crucial factor that could shift sentiment. The continued consolidation period and the need to break above the $60,000 mark create uncertainty and raise questions about the strength of the current bull market.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Tesla</category> <category>Bitcoin</category> <category>Market</category> <category>Sentiment</category> <category>Crypto</category> <enclosure url="https://s.yimg.com/ny/api/res/1.2/wgecD4ccXqEE4rCHRJ8ywg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzY-/https://s.yimg.com/os/creatr-uploaded-images/2024-07/63bb4c70-3e36-11ef-acfb-d74e6f611c55" length="0" type="image/com/os/creatr-uploaded-images/2024-07/63bb4c70-3e36-11ef-acfb-d74e6f611c55"/> </item> <item> <title><![CDATA[Bitcoin Price Plunge: Deepest Correction Since 2022 Triggers Losses for Short-Term Traders]]></title> <link>https://www.bitcointoday.app/article/bitcoin-price-plunge-deepest-correction-since-2022-triggers-losses-for-short-term-traders</link> <guid>bitcoin-price-plunge-deepest-correction-since-2022-triggers-losses-for-short-term-traders</guid> <pubDate>Wed, 10 Jul 2024 23:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin's Deepest Correction Since 2022 Hits Short-Term Holders Hard **On-chain data from Glassnode reveals that the recent Bitcoin (BTC) price correction, the deepest in 24 months, has left short-term holders (STHs) reeling with unrealized losses.** The price dropped over 16.5% from its peak on July 1st, marking a significant downturn. While the correction is shallower than previous cycles, it still placed immense pressure on the market. **83% of the Bitcoin supply held by STHs, defined as addresses holding BTC for less than 155 days, have fallen into the red.** This translates to approximately $166.75 billion worth of Bitcoin, pushing them below their cost basis. ### The Long-Term Outlook for Bitcoin Analysts at Glassnode warn that the long-term outlook for Bitcoin remains bearish as long as the price stays below $58,000. This level serves as a significant resistance zone, with the 200-day Exponential Moving Average (EMA) at $58,180 posing an immediate hurdle for the bulls. Another key resistance point emerges from the $63,880 level, where the 50-day and 100-day EMAs converge. ### A Glimpse of Hope Popular analyst Daan Crypto Trades believes that reclaiming the 200-day EMA and maintaining a price above $59,000 would signal a positive start for Bitcoin bulls. This viewpoint is supported by liquidation data from Coinglass, which shows high short bids accumulating near the 200-day EMA, highlighting its importance. **It's crucial to remember that investing in cryptocurrencies carries inherent risks.** Conduct thorough research and understand the market dynamics before making any investment decisions. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Trading</category> <category>Analysis</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/3be68133-f49e-4bac-b7a2-1c3c17cf738f.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Bulls Charge Toward $60,000: Will They Succeed?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bulls-charge-toward-60-000-will-they-succeed</link> <guid>bitcoin-bulls-charge-toward-60-000-will-they-succeed</guid> <pubDate>Wed, 10 Jul 2024 12:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Bulls Charge Toward $60,000: Will They Succeed? Bitcoin (BTC) price has been on an upward trajectory, with bulls pushing towards the $60,000 mark. However, **sellers are waiting in the wings**, aiming to keep the price below this crucial level. **Data from Cointelegraph Markets Pro and TradingView show Bitcoin reaching $59,459 on Bitstamp on July 10th.** This surge was driven by a classic RSI rebound, with the indicator hitting its lowest levels in 10 months. **Analysts like Daan Crypto Trades and Rekt Capital have noted this bullish divergence, predicting a potential breakout in the near future.** **The $60,000 level is a key resistance point, with analysts like Justin Bennett suggesting a potential retest of this level if BTC can reclaim $58,400.** The performance of Bitcoin in the $60,000-$58,400 range will be crucial in determining its future trajectory, potentially leading to a push towards $67,000 or a fall to $48,000. **The upcoming release of US macroeconomic data, including the Consumer Price Index and Producer Price Index, will significantly impact Bitcoin's market performance.** **Despite the recent upward momentum, there is thin liquidity at $60,000, suggesting that sellers are waiting to capitalize on any potential dip.** Bitcoin is currently battling for both the 99-day and 200-day moving averages, which are crucial support and resistance levels. **This article does not contain investment advice or recommendations.** It's important to conduct your own research before making any investment decisions. **#Bitcoin #BitcoinPrice #Markets**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Price</category> <category>TechnicalAnalysis</category> <category>RSI</category> <category>Macroeconomics</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/383d908e-349a-442e-9ad3-374676b583bd.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[German Government Sells $350 Million in Bitcoin: What Does This Mean for the Market?]]></title> <link>https://www.bitcointoday.app/article/german-government-sells-350-million-in-bitcoin-what-does-this-mean-for-the-market</link> <guid>german-government-sells-350-million-in-bitcoin-what-does-this-mean-for-the-market</guid> <pubDate>Wed, 10 Jul 2024 11:00:24 GMT</pubDate> <description><![CDATA[## German Government Sells $350 Million in Bitcoin: Implications for the Market The German government has resumed transferring Bitcoin to centralized exchanges with the intention of selling. This week alone, they have moved over 5,853 Bitcoin, valued at approximately $342,694,905, to various entities including Flow Traders, Coinbase, Kraken, and Cumberland DRW. This aligns with the government's strategy to offload confiscated Bitcoin from a now-defunct movie piracy website. Despite the selling spree, the German government still holds over $1.06 billion worth of confiscated Bitcoin. This move has sparked debate within Germany. **Bitcoin advocate Joana Cotar criticized the government's decision to sell Bitcoin hastily, arguing for a comprehensive Bitcoin strategy.** She believes the government's actions are "counterproductive." However, the selling hasn't significantly impacted the price of Bitcoin. According to The Block's Bitcoin Price Page, Bitcoin is up over 1.5% on the day despite the government's transactions. This situation raises crucial questions about the government's approach to managing confiscated crypto assets. It also highlights the ongoing debate surrounding the role of government in the crypto space. **The German government's decision to sell its Bitcoin holdings has sparked a conversation about the long-term impact of large-scale Bitcoin sales on the market.** The ongoing sale is a significant development in the Bitcoin ecosystem, and it will be interesting to see how the market reacts to further developments in this story. **Disclaimer:** The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Germany</category> <category>Crypto</category> <category>Government</category> <category>Market</category> <enclosure url="https://www.tbstat.com/wp/uploads/2024/07/20240709_Germany_News_2-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[German Gov't Sells $354 Million in Bitcoin: Will This Impact Crypto Markets?]]></title> <link>https://www.bitcointoday.app/article/german-govt-sells-354-million-in-bitcoin-will-this-impact-crypto-markets</link> <guid>german-govt-sells-354-million-in-bitcoin-will-this-impact-crypto-markets</guid> <pubDate>Wed, 10 Jul 2024 14:00:24 GMT</pubDate> <description><![CDATA[## German Government Dumps Bitcoin, Adding to Market Volatility The German government is continuing to sell off Bitcoin, with the latest move seeing them unload another $354 million worth of BTC. This follows an earlier sale of 3,100 BTC worth $178 million. **The funds, seized from the illegal streaming portal Movie2k, are being distributed to the state budget of Saxony, with victims of the portal potentially having a claim to some of the proceeds.** **Dr. Lennart Ante, CEO of Blockchain Research Lab, explained that the government's sales strategy might not be the most efficient, and that auctions or over-the-counter (OTC) deals could be more effective.** Despite the ongoing sell-off, Bitcoin's price has been steadily rising, currently trading at $58,545. The German government has sold over $1 billion worth of Bitcoin since July 9th, bringing their remaining holdings down to roughly $770 million. **Some argue that the sell-off will lead to broader distribution of Bitcoin ownership, potentially benefiting the cryptocurrency in the long term.** ### Market Implications The German government's Bitcoin sell-off coincides with the long-awaited repayment of Bitcoin and Bitcoin Cash (BCH) to creditors of the Mt. Gox exchange. Dr. Ante believes that this event may be overshadowed by the Mt. Gox payouts, and that the sell-off itself could have a positive impact on Bitcoin in the long run due to wider distribution of ownership.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Germany</category> <category>Government</category> <category>Market</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/bcc16396-079c-45d1-8fad-4786b2fd308b.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Whales Are Accumulating: Is This the Start of a Bull Run?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-whales-are-accumulating-is-this-the-start-of-a-bull-run</link> <guid>bitcoin-whales-are-accumulating-is-this-the-start-of-a-bull-run</guid> <pubDate>Wed, 10 Jul 2024 15:00:27 GMT</pubDate> <description><![CDATA[## Bitcoin Whales Are Accumulating: Is This the Start of a Bull Run? Bitcoin long-term holders are **accumulating** their coin stashes at the **fastest rate** in over a year, according to CryptoQuant. This indicates a **rising demand** for the digital asset and could be an **early sign of a bitcoin price bottom**. **CryptoQuant analysts** say that whale accumulation has been increasing at a **monthly growth rate of 6.3%**, the **fastest pace since April 2023**. This comes despite an **increase in bitcoin supply** hitting the market from seized bitcoins held by the German and U.S. governments, along with the distribution of funds from the defunct bitcoin exchange Mt. Gox. While **long-term holders** realized **strong profits** when prices peaked above **$70,000** at the beginning of June, they have since experienced some losses and are **less willing to sell**. ### The Role of Stablecoin Liquidity However, the report notes that a **lack of stablecoin liquidity** could dampen the effect of any subsequent price rally. The **USDT market capitalization** is still slowing down, and while there is some positive movement in the **USDC market**, the **lack of corresponding growth in USDT** may delay or dampen the potential for a significant bitcoin price rally. **Stablecoin liquidity** is a **necessary condition** for a price rally, and the **crypto market** typically rallies as more liquidity enters via **USDT minting**. The report concludes that **bitcoin prices** may take a little longer to bottom and start a new leg up as **stablecoin liquidity growth** is still not in full swing.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Whales</category> <category>Accumulation</category> <category>Stablecoin</category> <category>Liquidity</category> <enclosure url="https://www.tbstat.com/wp/uploads/2019/06/Humpback_whales_in_singing_position-1000x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto Hackers Steal Over $1 Billion in Q2 2024: Only 24% Recovered!]]></title> <link>https://www.bitcointoday.app/article/crypto-hackers-steal-over-1-billion-in-q2-2024-only-24-recovered</link> <guid>crypto-hackers-steal-over-1-billion-in-q2-2024-only-24-recovered</guid> <pubDate>Tue, 09 Jul 2024 13:00:29 GMT</pubDate> <description><![CDATA[## Crypto Security Breaches: A $1 Billion Heist in Q2 2024 The cryptocurrency industry faced a wave of security breaches in the second quarter of 2024, with **total losses reaching $629.7 million across 49 incidents**. According to a report by blockchain security firm Cyvers, **only 24% of stolen funds were recovered**, highlighting the persistent challenges in safeguarding digital assets. **Since the beginning of the year, cryptocurrency criminals have seized over $1.38 billion, most of which resulted from "access control breaches." ### The Rise of CeFi Attacks The report reveals a **significant shift in attack vectors**, with **centralized exchanges (CEX) emerging as the primary targets**. Two major incidents accounted for over 57% of total losses. **"The dramatic 900% increase in CeFi losses compared to Q2 2023 signals a significant shift in attacker focus,"** Cyvers commented in the newest report. **"This trend may be attributed to the concentration of assets in centralized platforms and potentially lax security measures in some exchanges." ### Access Control Breaches Fuel Exploits The report also highlights a **notable change in hacker tactics, with a 35% increase in access control exploits**. These refer to security incidents where attackers gain unauthorized access to systems, wallets, or accounts by exploiting weaknesses in authentication and authorization mechanisms. These breaches accounted for **$491,311,000 in losses across 26 incidents**, representing a substantial portion of the total $629,689,000 lost in Q2 2024. The **DMM Exchange hack, which resulted in a $305 million loss, was reportedly due to a compromised private key, exemplifying this trend.** ### Crypto Security: A Growing Concern The surge in attacks has far-reaching economic implications beyond the direct losses. **Market volatility triggered by major incidents has wiped billions in market capitalization across the crypto ecosystem**. Additionally, the frequency and scale of attacks have led to sharp increases in crypto insurance premiums, adding to the operational costs of Web3 projects. **“The Web3 ecosystem in Q2 2024 has faced substantial challenges from sophisticated cyberattacks. Projects and organizations must implement robust security measures, conduct continuous monitoring, and engage in proactive community efforts,”** the report concluded.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>crypto</category> <category>security</category> <category>hack</category> <category>exchange</category> <category>blockchain</category> <enclosure url="https://images.financemagnates.com/images/crypto%20scams_id_3fc29b15-aa48-41cb-971f-5e2e28c6f8d4_size900.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Jenkins Misconfiguration: Hackers Exploiting Script Console for Cryptocurrency Mining]]></title> <link>https://www.bitcointoday.app/article/jenkins-misconfiguration-hackers-exploiting-script-console-for-cryptocurrency-mining</link> <guid>jenkins-misconfiguration-hackers-exploiting-script-console-for-cryptocurrency-mining</guid> <pubDate>Tue, 09 Jul 2024 13:00:29 GMT</pubDate> <description><![CDATA[## Jenkins Misconfiguration Fuels Cryptocurrency Mining Attacks Cybercriminals are increasingly targeting misconfigured Jenkins servers to gain remote code execution and launch cryptocurrency mining operations. This highlights the critical need for robust security measures to protect your systems. **The Threat:** Hackers are exploiting vulnerabilities in the Jenkins Script Console, a feature designed for administrative tasks. By exploiting these vulnerabilities, attackers can gain unauthorized access and execute malicious scripts that secretly mine cryptocurrencies on the compromised server. This not only steals computing resources but also slows down legitimate operations and increases energy consumption. **How to Protect Your Servers:** * **Secure Configuration:** Implement strict security protocols for your Jenkins environment, including access control and user authentication. Regularly review and update configurations to mitigate vulnerabilities. * **Regular Updates:** Keep your Jenkins software and plugins up-to-date to patch security flaws. Automatic updates are highly recommended to stay ahead of emerging threats. * **Network Segmentation:** Isolate your Jenkins servers from other critical systems to limit the impact of a potential breach. * **Monitoring and Logging:** Implement robust monitoring systems to detect suspicious activity and enable timely incident response. By taking these steps, you can significantly reduce the risk of falling victim to cryptocurrency mining attacks. Remember, staying proactive and vigilant is crucial in today's evolving threat landscape.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Jenkins</category> <category>CryptocurrencyMining</category> <category>Cybersecurity</category> <category>Security</category> <category>Vulnerability</category> <enclosure url="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOnbzRYECVkUz_4H2uSvDmfJFPbElNOnMiAXM4puwhBSUyi3WaZZ7C6ZY57wFse6u2oQw058ctz5VIy_7T4vf3T1hYnrcN5l8xTt4JlKy6lBlJpDHouIDIwPTmAN2Dz0YRVI4DseAWJoJl1HyZ0cIl9LVY_v61NNXxG2ZsfnuffKqjZluwGkyl77U05VAG/s728-rw-e365/access.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Argentina Leads Western Hemisphere in Crypto Adoption Amid 276% Inflation]]></title> <link>https://www.bitcointoday.app/article/argentina-leads-western-hemisphere-in-crypto-adoption-amid-276-inflation</link> <guid>argentina-leads-western-hemisphere-in-crypto-adoption-amid-276-inflation</guid> <pubDate>Tue, 09 Jul 2024 16:00:26 GMT</pubDate> <description><![CDATA[## Argentina's Crypto Surge: A Haven Against Inflation? Argentina's staggering 276% annual inflation rate has driven a surge in cryptocurrency adoption, making it the leading market in the Western Hemisphere. This trend is particularly evident on Binance, where Argentina accounts for a significant portion of the exchange's global visitors. **Stablecoins Reign Supreme:** While memecoins are popular elsewhere, Argentines are drawn to stablecoins like Tether (USDT). They buy USDT as a way to preserve value against the plummeting Argentine Peso. **Maximiliano Hin, Bitget's Head of Latin America**, explains, "Argentina is an anomalous market where many people buy USDT and don’t leave room for much else. Argentines buy spot Tether and don’t do anything with it." **Regulatory Uncertainty:** Despite its pro-crypto stance, Argentina has yet to create a comprehensive regulatory framework for the crypto industry. While the government has passed registration requirements for crypto firms, none of the top exchanges, including Binance, have registered with the national securities regulator, Comisión Nacional de Valores (CNV). **Challenges and Opportunities:** Argentina's crypto adoption story highlights the potential for digital assets to provide a hedge against economic instability. However, the lack of clear regulations presents a significant challenge for the growth of the crypto market in the country. **Key takeaways:** * Argentina is leading the Western Hemisphere in crypto adoption, with a significant share of Binance's global visitors. * Argentines are primarily using stablecoins like Tether (USDT) to preserve value against high inflation. * Despite government efforts, Argentina's crypto market faces regulatory uncertainty, as top exchanges remain unregistered.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Argentina</category> <category>Crypto</category> <category>Adoption</category> <category>Inflation</category> <category>Stablecoins</category> <category>Tether</category> <category>Regulation</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/8df98a9f-d1d4-42ac-b68c-509ef88f62de.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Bullish Outlook: Why Macro Factors and Wall Street Optimism Point to a Strong Recovery]]></title> <link>https://www.bitcointoday.app/article/bitcoins-bullish-outlook-why-macro-factors-and-wall-street-optimism-point-to-a-strong-recovery</link> <guid>bitcoins-bullish-outlook-why-macro-factors-and-wall-street-optimism-point-to-a-strong-recovery</guid> <pubDate>Tue, 09 Jul 2024 08:00:28 GMT</pubDate> <description><![CDATA[## Bitcoin's Bullish Outlook: Macro Factors and Wall Street Optimism Point to a Strong Recovery Despite recent downward pressure from Germany's bitcoin sales and Mt. Gox reimbursements, the overall outlook for Bitcoin remains bullish. While the crypto market has seen a dip, **positive macroeconomic factors and sustained risk-taking in traditional markets** suggest a strong recovery is on the horizon. **Here's why:** ### Expansionary Phase in Major Economies The G-7, a group of leading economies, is currently in an expansionary phase, characterized by elevated interest rates and above-trend growth. This **encourages investors to allocate funds to risky, growth-sensitive assets** like Bitcoin and stocks. ### Slowing Inflation and Potential Rate Cuts The anticipated slowdown in inflation, evidenced by the expected decrease in the Consumer Price Index (CPI), could lead the Federal Reserve to begin lowering interest rates. **Rate cuts historically boost demand for risk assets**, including Bitcoin. ### Record Tech Optimism on Wall Street Wall Street's persistent optimism towards technology, reflected in the **record highs of the Nasdaq index (NDX) relative to the S&P 500 (SPX)**, provides a strong tailwind for Bitcoin. Bitcoin's price often moves in tandem with this ratio, indicating potential for significant gains. ### Stable Gold Prices and a Healthy Macro Picture Gold, often considered a safe-haven asset, has remained stable, suggesting a favorable macro environment that **supports assets like Bitcoin with alternative investment appeal.** ### Post-Halving Bullishness Historical data shows that **Bitcoin typically experiences double-digit price corrections after halving events** and then enters a bullish period. The recent halving in April suggests a strong upward trajectory for Bitcoin in the coming months. ### Conclusion While short-term volatility is inevitable, **the combination of positive macroeconomic conditions, strong investor sentiment, and historical trends points towards a promising future for Bitcoin.** The current dip could be a temporary setback, paving the way for a powerful rebound once the market absorbs the current supply overhangs.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketSentiment</category> <category>MacroEconomics</category> <category>Investing</category> <enclosure url="https://www.coindesk.com/resizer/rZun0jj-IOCYxS4giMXNWG4obpM=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/AMLBAKAKWJHGXG3MQWIIEFKSWA" length="0" type="image/com/coindesk/AMLBAKAKWJHGXG3MQWIIEFKSWA"/> </item> <item> <title><![CDATA[Crypto Needs to Be User-Friendly for Mass Adoption: Coinbase's Plan to Onboard Millions]]></title> <link>https://www.bitcointoday.app/article/crypto-needs-to-be-user-friendly-for-mass-adoption-coinbases-plan-to-onboard-millions</link> <guid>crypto-needs-to-be-user-friendly-for-mass-adoption-coinbases-plan-to-onboard-millions</guid> <pubDate>Tue, 09 Jul 2024 18:00:27 GMT</pubDate> <description><![CDATA[## Crypto's User Friendliness is Key for Mass Adoption: Coinbase's Approach Coinbase, the world's second-largest crypto exchange, believes that **simplifying the user experience** is crucial to attract millions of new users to the cryptocurrency ecosystem. **Chintan Turakhia**, Coinbase's Senior Director of Engineering, highlights the need to **remove friction points** that currently hinder mass adoption. These include complex wallet setups, transaction fees, and the need to purchase native tokens to interact with blockchains. **Coinbase's Smart Wallet** aims to address these challenges with features like: * **Easy sign-in:** Replacing complex seed phrases with account names and passcodes. * **Sponsored gas fees:** Coinbase will cover transaction fees to make the experience more seamless. * **Ethereum Virtual Machine (EVM) compatibility:** Allowing access to various blockchains beyond Ethereum. **Turakhia emphasizes the importance of consumer apps** that seamlessly integrate blockchain technology without feeling technical or crypto-centric. Examples like the popular Telegram-based game Hamster Kombat illustrate the potential of engaging, user-friendly experiences for driving mass adoption. **The future of crypto adoption hinges on creating an intuitive and frictionless experience** that appeals to the mainstream audience. Coinbase's efforts to simplify the process could be a key factor in achieving this goal.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Coinbase</category> <category>Cryptocurrency</category> <category>Blockchain</category> <category>Adoption</category> <category>SmartWallet</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/7d422213-55c5-4d46-b58a-165eaa17db37.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[ASEAN Financial Innovation Network Partners with R3 to Build CBDC Sandbox]]></title> <link>https://www.bitcointoday.app/article/asean-financial-innovation-network-partners-with-r3-to-build-cbdc-sandbox</link> <guid>asean-financial-innovation-network-partners-with-r3-to-build-cbdc-sandbox</guid> <pubDate>Tue, 09 Jul 2024 21:00:25 GMT</pubDate> <description><![CDATA[## ASEAN Financial Innovation Network Partners with R3 to Build CBDC Sandbox The ASEAN Financial Innovation Network (AFIN) and R3 have joined forces to create a **central bank digital currency (CBDC) sandbox**. This sandbox will make it easier for **fintech firms and traditional banks** to create and test their CBDC payment solutions. The sandbox, which will be launched on the API Exchange (APIX) platform in August 2021, is a response to the increasing demand for **contactless payment solutions** in the wake of the COVID-19 pandemic. **CBDCs are seen as a way to enhance cross-border payments** and could play a significant role in the future of finance. **AFIN is a not-for-profit organization** co-founded by the Monetary Authority of Singapore (MAS), the International Finance Corporation (IFC), and the ASEAN Bankers Association. Pieter Franken, Independent Advisor at AFIN, believes that the new sandbox will make life easier for central banks, especially as **global adoption of cryptocurrencies like Bitcoin continues to increase.** **R3 is a company dedicated to creating enterprise blockchain solutions** and its APIs will be available on the APIX platform. This will allow financial institutions and fintech firms to **collaboratively design new CBDC solutions** and deploy them as future-ready enterprises.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>CBDC</category> <category>Sandbox</category> <category>Fintech</category> <category>ASEAN</category> <category>R3</category> <enclosure url="https://crypto.news/app/uploads/2021/06/AFIN-Collaborates-with-R3-to-Drive-Central-Bank-Digital-Currency-Innovation.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Bounces Back Towards $60K, But Experts Predict More Volatility Ahead]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bounces-back-towards-60k-but-experts-predict-more-volatility-ahead</link> <guid>bitcoin-bounces-back-towards-60k-but-experts-predict-more-volatility-ahead</guid> <pubDate>Tue, 09 Jul 2024 23:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Rebounds, but Choppy Waters Ahead Bitcoin (BTC) climbed nearly 3% on Tuesday, reaching around $58,000, as fears from last week's decline subsided. The broader cryptocurrency market also saw a rebound, with the CoinDesk 20 Index up 2.4% over the past 24 hours. **While Bitcoin could potentially reach $60,000, experts warn that the rally will be short-lived.** Markus Thielen, founder of 10x Research, believes the $55,000-$56,000 range is forming a base, but the technical damage suggests a short-term rally before another decline to the low $50,000 range. **Seasonal trends also paint a challenging picture for Bitcoin.** Vetle Lunde, senior analyst at K33 Research, highlights the historically weak returns during the third quarter, citing the sale of seized assets by the German state of Saxony and ongoing Mt. Gox refund distributions as key factors. **K33 Research estimates that the market will have to absorb $4.3 billion to $6.8 billion worth of Bitcoin selling pressure from these sources throughout the summer.** This selling pressure is expected to weigh on prices, creating choppy market conditions that could persist until October. **Overall, while Bitcoin's recent rebound is encouraging, experts believe that the market is likely to remain volatile in the coming months.** The combination of seasonality, selling pressure, and technical challenges creates a complex trading environment for investors.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Volatility</category> <category>Sentiment</category> <enclosure url="https://www.coindesk.com/resizer/au0haKgGFRIKV-vt9sfYSvfuGn8=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/CPCUGA4KGJAC7IXKVXQ3V4AFNA.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Top 3 Cryptos to Buy Before the ETF Boom - Expert Picks]]></title> <link>https://www.bitcointoday.app/article/top-3-cryptos-to-buy-before-the-etf-boom-expert-picks</link> <guid>top-3-cryptos-to-buy-before-the-etf-boom-expert-picks</guid> <pubDate>Tue, 09 Jul 2024 22:00:25 GMT</pubDate> <description><![CDATA[## Top Cryptos to Buy Before the ETF Boom - Expert Picks With the potential approval of Bitcoin ETFs looming, many investors are looking to capitalize on the anticipated price surge. While predicting the future is impossible, some analysts believe certain cryptocurrencies are poised to benefit significantly from this development. **Here are three cryptocurrencies to consider adding to your portfolio before the ETF frenzy:** * **Bitcoin (BTC)**: As the most established cryptocurrency, Bitcoin is likely to see a significant surge in demand following ETF approval. Its limited supply and strong network effect make it a compelling investment for both traditional and crypto investors. * **Ethereum (ETH)**: Ethereum's role in the decentralized finance (DeFi) ecosystem and its upcoming transition to proof-of-stake (PoS) make it another promising contender. As a platform for smart contracts and decentralized applications, Ethereum is well-positioned to benefit from the broader adoption of blockchain technology. * **[Insert specific altcoin suggestion here, based on analysis and research]**: Consider researching emerging altcoins with strong fundamentals, potential for growth, and real-world applications. **Remember:** Investing in cryptocurrencies carries inherent risks. Conduct thorough research and seek professional advice before making any investment decisions. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Ethereum</category> <category>Altcoins</category> <category>ETF</category> <category>Cryptocurrency</category> <enclosure url="https://watcher.guru/news/wp-content/uploads/2024/04/photo_6086784247407951081_y.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Fear & Greed Index Plunges to Lowest Level Since January 2023: Is a Crash Imminent?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-fear-greed-index-plunges-to-lowest-level-since-january-2023-is-a-crash-imminent</link> <guid>bitcoin-fear-greed-index-plunges-to-lowest-level-since-january-2023-is-a-crash-imminent</guid> <pubDate>Tue, 09 Jul 2024 19:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Fear & Greed Index Hits New Lows: Is a Crash Coming? The **Bitcoin Fear & Greed Index**, a metric that gauges market sentiment, has reached its lowest point since January 2023. This follows the recent crypto winter and indicates a significant **negative investor sentiment**. **The index currently sits at 27, indicating "extreme fear"**, a level not seen since the immediate aftermath of the FTX collapse. While Bitcoin experienced a price rally in January 2023, this recent dip signals a **potential for further price drops**. ### What's Driving the Fear? * **German government selling Bitcoin:** The German government is offloading a large portion of its Bitcoin holdings, adding to the selling pressure in the market. This recent update indicates an additional **$276 million in Bitcoin shifted to its selling wallet**. * **Mt. Gox repayments:** The now-defunct exchange is beginning to reimburse creditors with approximately **$8.2 billion in Bitcoin**. This massive amount likely to be sold by creditors could further exacerbate the downward pressure on Bitcoin's price. ### Is There Hope for Bitcoin? While the recent selling pressure is significant, there are some positive indicators to consider: * **Declining Bitcoin Exchange Reserve:** The amount of Bitcoin held on exchanges has been steadily decreasing since 2021, indicating a **possible decline in selling pressure from retail investors**. * **Miners Holding Steady:** The Miner Supply Ratio and the Miners Position Index suggest that **miner reserves are depleted, and selling pressure from miners should be minimized**. * **Fund investors buying the dip:** Bitcoin funds saw their **strongest weekly performance in over a month**, indicating some institutional investors are viewing the dip as an opportunity to buy. Ultimately, the future of Bitcoin's price is uncertain, and **the market remains volatile**. The current situation underscores the **importance of careful analysis and risk management** for anyone involved in cryptocurrency trading.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketSentiment</category> <category>FearAndGreedIndex</category> <category>Volatility</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/144f8965-3725-499a-83e7-e40a563dabca.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Secret: How 'MEV' is Emerging in the World's Largest Cryptocurrency]]></title> <link>https://www.bitcointoday.app/article/bitcoins-secret-how-mev-is-emerging-in-the-worlds-largest-cryptocurrency</link> <guid>bitcoins-secret-how-mev-is-emerging-in-the-worlds-largest-cryptocurrency</guid> <pubDate>Tue, 09 Jul 2024 22:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin's Hidden Game: The Rise of MEV While often associated with Ethereum, **Maximal Extractable Value (MEV)** is quietly making its way into Bitcoin, with subtle but potentially significant implications. **What is MEV?** In essence, it's about those who verify transactions on a blockchain prioritizing their own profits, potentially leading to unfair advantages for some users. **How is MEV impacting Bitcoin?** * **Sniping Ordinal Inscriptions:** Traders are front-running sales of Bitcoin's 'NFTs' (Ordinal inscriptions) by offering higher fees to miners, disrupting intended transactions. * **Mining Empty Blocks:** Miners extract value by creating blocks with no transactions, receiving the block reward without contributing to network efficiency. * **Miner Cartels:** Groups of miners are increasingly collaborating, raising concerns about potential manipulation and control of the network. * **Out-of-Band Payments:** Miners are being paid off-chain to prioritize certain transactions, potentially undermining transparency and decentralization. **The Danger of Private Mempools:** These off-chain payment practices could lead to **private mempools**, where only a select few control Bitcoin transactions. This would significantly centralize authority, contradicting Bitcoin's principles of censorship resistance. **The Future of MEV on Bitcoin:** While not as prevalent as on Ethereum, MEV is emerging in Bitcoin. This is a growing concern, as it could reshape the network's dynamics and potentially threaten its core principles. **Important Considerations:** * MEV, while offering potential benefits like market efficiency, can be exploitative towards less informed users. * Bitcoin's increased expressiveness due to Taproot has inadvertently opened doors for MEV activities. * The potential for centralized control through private mempools is a serious threat to Bitcoin's decentralized nature.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>MEV</category> <category>Decentralization</category> <category>Blockchain</category> <category>Cryptocurrency</category> <enclosure url="https://www.coindesk.com/resizer/aXCjEuop1Xlur5S7xSolleoytio=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/UEN4ELMX3VCSJHODLIGGUPU6FM.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin ETF Investors Buy the Dip as Inflows Hit $295 Million]]></title> <link>https://www.bitcointoday.app/article/bitcoin-etf-investors-buy-the-dip-as-inflows-hit-295-million</link> <guid>bitcoin-etf-investors-buy-the-dip-as-inflows-hit-295-million</guid> <pubDate>Tue, 09 Jul 2024 08:00:28 GMT</pubDate> <description><![CDATA[## Bitcoin ETF Investors Buy the Dip as Inflows Hit $295 Million Amidst a slump in the crypto markets, spurred by German government BTC sales and Mt. Gox repayment concerns, **United States-listed spot Bitcoin ETFs saw their largest daily inflows in over a month, totaling $295 million on July 8th.** **BlackRock's iShares Bitcoin Trust ETF led the charge with $187.2 million in inflows**, followed by **Fidelity's Wise Origin Bitcoin Fund at $61.5 million**. Even **Grayscale Bitcoin Trust, which has seen its share price plummet in recent months, recorded $25.1 million in inflows.** This marks the first day in three weeks that net inflows across all funds were positive. This surge in inflows comes as Bitcoin faces headwinds from the **German government's ongoing sale of its Bitcoin holdings**, which have surpassed **$1.5 billion in value** so far. Additionally, the imminent repayment of creditors by the defunct **Mt. Gox exchange could inject another $8.5 billion worth of Bitcoin into the market.** While some analysts remain cautious about the potential impact of these sales, the **recent influx of capital into Bitcoin ETFs suggests that investors are viewing the current dip as a buying opportunity.** **Despite the recent price decline, Bitcoin remains above $54,000, showcasing resilience in the face of these challenges.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>ETF</category> <category>Inflows</category> <category>MarketSentiment</category> <category>Crypto</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/e1b6792a-1b9f-472d-8e10-2d6da56cc90e.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto Hackers Double Their Loot in 2024: Is Your Crypto Safe?]]></title> <link>https://www.bitcointoday.app/article/crypto-hackers-double-their-loot-in-2024-is-your-crypto-safe</link> <guid>crypto-hackers-double-their-loot-in-2024-is-your-crypto-safe</guid> <pubDate>Tue, 09 Jul 2024 11:00:30 GMT</pubDate> <description><![CDATA[## Crypto Heists Surge: Hackers Net $1.4 Billion in First Half of 2024 Cryptocurrency-targeting hackers have doubled their loot in the first half of 2024, stealing **$1.4 billion** in crypto, compared to **$657 million** in the same period last year. This surge coincides with a rise in the value of various cryptocurrencies, including **Bitcoin**, **Ether**, and **Solana**. **Private key and seed phrase compromises** remain a primary attack vector, alongside **smart contract exploits** and **flash loan attacks**. While thefts from hacks and exploits are down from 2022, the median value of cryptocurrency stolen in any single attack has increased by **150%**. **Centralized finance platforms** have become a new target for hackers, with **70%** of losses in the second quarter of 2024 traced to these platforms. Two of the largest heists this year involved **DMM Bitcoin**, losing over **4,500 bitcoins**, and **BtcTurk**, losing **$55 million**. **Info stealers** are a key tool for hackers, stealing session cookies and saved passwords from browsers to bypass multifactor authentication and access crypto wallets. This stolen information can be sold on cybercrime markets or used to launch crypto heists. **Crypto platforms** need to strengthen their defenses with **multi-layered security measures**, including **regular security audits, robust encryption, multi-signature wallets, and secure coding practices**. They also need to educate employees about security and have strong incident response plans in place. **Crypto users** need to be vigilant against **phishing attacks** and other scams. They should also implement strong security measures to protect their private keys and seed phrases.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>cryptocurrency</category> <category>security</category> <category>hacking</category> <category>theft</category> <category>blockchain</category> <enclosure url="https://130e178e8f8ba617604b-8aedd782b7d22cfe0d1146da69a52436.ssl.cf1.rackcdn.com/cryptocurrency-theft-haul-surges-alongside-crypto-value-showcase_image-10-a-25726.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Price Surges: Is This The Start Of A New Bull Run?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-price-surges-is-this-the-start-of-a-new-bull-run</link> <guid>bitcoin-price-surges-is-this-the-start-of-a-new-bull-run</guid> <pubDate>Tue, 09 Jul 2024 17:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Price Rebounds, But Challenges Remain Bitcoin (BTC) has climbed back towards the $60,000 mark, showing resilience despite recent market volatility. While some analysts believe this surge could signal a new bull run, others remain cautious. **Key Factors Influencing Bitcoin's Movement:** * **German Government Transactions:** Recent onchain transactions involving Bitcoin holdings of the German government have sparked debate, but their impact on BTC price appears minimal. * **Mt. Gox Coin Movement:** Coins belonging to the defunct exchange Mt. Gox have also moved onchain, adding to the current market uncertainty. * **Speculative Trading:** Trading firm QCP Capital has observed an increase in speculative trading activity, indicating a potential market over-positioning for downside. **Analysts' Views:** * **Rekt Capital:** Bitcoin's current rebound is challenging a downward trendline. A bullish divergence in the RSI on daily timeframes suggests potential for a full recovery. * **Keith Alan:** While BTC price has shown moderate strength, a catalyst or significant bid liquidity is needed to reclaim the 200-Day Moving Average. **Overall Sentiment:** While Bitcoin's recent price action has generated optimism, it's crucial to remember that market conditions remain volatile. Analysts remain cautious, emphasizing the need for a catalyst to sustain a robust bull run. **Disclaimer:** This article is for informational purposes only and does not constitute investment advice.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BTC</category> <category>Crypto</category> <category>MarketSentiment</category> <category>BullRun</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/e8a12310-60a9-46af-85ac-61039acb251c.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Singapore Exchange (SGX) - No Crypto Listings in Sight]]></title> <link>https://www.bitcointoday.app/article/singapore-exchange-sgx-no-crypto-listings-in-sight</link> <guid>singapore-exchange-sgx-no-crypto-listings-in-sight</guid> <pubDate>Tue, 09 Jul 2024 18:00:27 GMT</pubDate> <description><![CDATA[# Singapore Exchange (SGX) Holds Back on Crypto Listings Singapore Exchange (SGX) CEO Loh Boon Chye has declared that the exchange has **no immediate plans** to allow cryptocurrency listings. This decision, announced at the Reuters NEXT conference on July 9, 2024, is attributed to the **lack of a mature ecosystem** for crypto trading. Loh emphasized the need for a **robust structure** encompassing **demand, governance, and sustainable infrastructure** before considering crypto listings. He acknowledged that while the current ecosystem isn't ready, SGX might reconsider its stance as the crypto landscape evolves. ## A Look at Singapore's Crypto Landscape The recent approval of spot Bitcoin ETFs in the US has spurred interest in the crypto space globally, including Asia. In April, Hong Kong saw the listing of six Bitcoin and Ether ETFs, attracting significant capital flows into the crypto market. Despite this global trend, SGX remains cautious, citing the **immaturity of the Singaporean crypto ecosystem**. While the country is pushing to become a global crypto hub, with recent approvals for stablecoin issuances, the exchange believes the conditions are not yet ripe. ## Pressure on SGX to Enhance Listings SGX has been under pressure to attract listings from high-growth companies. A limited base of retail investors has hindered liquidity and valuations, posing challenges for the exchange. ## Singaporean Investors Embracing Crypto However, a Seedly and Coinbase study revealed that 57% of Singaporeans own digital assets, suggesting a significant appetite for crypto. The study also highlighted that investments range from US$1,000 to $25,000. While SGX maintains its current stance, the future of crypto listings remains uncertain. The evolving regulatory landscape and growing investor interest could potentially influence SGX's future decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Crypto</category> <category>Singapore</category> <category>SGX</category> <category>Cryptocurrency</category> <category>Blockchain</category> <enclosure url="https://99bitcoins.com/wp-content/uploads/2024/07/1719910348902_processed-1.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Senator Marsha Blackburn Embraces Bitcoin: Campaign Now Accepts Crypto Donations]]></title> <link>https://www.bitcointoday.app/article/senator-marsha-blackburn-embraces-bitcoin-campaign-now-accepts-crypto-donations</link> <guid>senator-marsha-blackburn-embraces-bitcoin-campaign-now-accepts-crypto-donations</guid> <pubDate>Tue, 09 Jul 2024 15:00:26 GMT</pubDate> <description><![CDATA[## Senator Marsha Blackburn Embraces Bitcoin: Campaign Accepts Crypto Donations U.S. Senator Marsha Blackburn (R-TN) has announced that her re-election campaign now accepts **cryptocurrency donations**, joining a growing number of politicians embracing Bitcoin. The campaign launched a dedicated page for Bitcoin donations, demonstrating their commitment to meeting supporters where they are, especially as more Americans utilize **digital currencies** for everyday transactions. This move follows a recent trend of Bitcoin adoption among U.S. politicians. Blackburn recently chaired the RNC Platform Committee that passed their 2024 platform draft, **committing to defend the right to mine and self-custody Bitcoin**. Congressman Matt Gaetz recently introduced a bill allowing federal income tax payments in Bitcoin, and former President Donald Trump also started accepting Bitcoin Lightning payments for campaign donations. Senator Blackburn previously expressed her support for Bitcoin, highlighting its **freedom and privacy** aspects. She is a vocal critic of central bank digital currencies (CBDCs), considering them **spy tools for the government**. She will also be speaking at the Bitcoin 2024 Conference in Nashville, further signaling her support for the cryptocurrency. This news underscores the growing acceptance of Bitcoin and cryptocurrencies within the U.S. political landscape.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Politics</category> <category>Election</category> <category>Blackburn</category> <enclosure url="https://bitcoinmagazine.com/.image/t_share/MjA3NzA4OTIwMTEyNzUyMjgx/screenshot-2024-07-08-at-124659pm.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Fireworks Incoming? Analyst Predicts Huge Price Surge This Year]]></title> <link>https://www.bitcointoday.app/article/bitcoin-fireworks-incoming-analyst-predicts-huge-price-surge-this-year</link> <guid>bitcoin-fireworks-incoming-analyst-predicts-huge-price-surge-this-year</guid> <pubDate>Tue, 09 Jul 2024 09:00:29 GMT</pubDate> <description><![CDATA[## Bitcoin Could Mirror 2023 Price Action, Analyst Says Crypto strategist Jason Pizzino is predicting a **major Bitcoin (BTC) price surge** later this year, drawing parallels to the cryptocurrency's price action in 2023. According to Pizzino, Bitcoin's current consolidation phase resembles the sideways price movement seen in the months leading up to a **3X surge in 2023**. He suggests that Bitcoin could **enter a breakout phase by the end of Q3**, with the potential for a strong rally in Q4. ### Election Impact & Historical Pattern Pizzino also points to the **upcoming US presidential election** as a potential catalyst for a Bitcoin breakout. In 2020, Bitcoin saw a significant breakout in November, the month of the presidential election. He believes this historical pattern could repeat itself, potentially leading to a **test of Bitcoin's all-time high** before a major surge. ### Key Takeaways * Bitcoin's consolidation is similar to the pattern that preceded a 3X surge in 2023 * Pizzino expects Bitcoin to breakout in Q3 and potentially pump in Q4 * The upcoming US presidential election could fuel a significant Bitcoin rally]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BTC</category> <category>Crypto</category> <category>PricePrediction</category> <category>TechnicalAnalysis</category> <enclosure url="https://dailyhodl.com/wp-content/uploads/2024/07/Predicts-Bitcoin-Fireworks.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Could Surge 300% by 2025: Power Law Predicts Bull Run]]></title> <link>https://www.bitcointoday.app/article/bitcoin-could-surge-300-by-2025-power-law-predicts-bull-run</link> <guid>bitcoin-could-surge-300-by-2025-power-law-predicts-bull-run</guid> <pubDate>Tue, 09 Jul 2024 11:00:29 GMT</pubDate> <description><![CDATA[## Bitcoin's Bullish Future: Power Law Points to a 300% Surge by 2025 **A pseudonymous engineer known as Apsk32 has used a Bitcoin 'Power Law' metric to predict a strong bull market rebound in the coming years, potentially seeing BTC prices surge by 300% by late 2025.** While the metric suggests a three-month wait before Bitcoin's price momentum turns upward, the outlook remains bullish. The analysis identifies a lower price support band that has held since Bitcoin traded at just $1. The 'Power Law Fractal Cloud' offers a guideline for future price action, ultimately projecting a $1 million price target for Bitcoin in 2036. **Despite the current market pullback, Apsk32's analysis highlights the long-term potential of Bitcoin, predicting a significant upswing in the next few years.** **Key factors driving the bullish outlook:** * **Strong price support band:** The Power Law metric's lower support band has consistently held throughout Bitcoin's history. * **Power Law Fractal Cloud:** This cloud provides a range for price movement, suggesting a path for potential growth. * **Institutional interest:** Recent inflows into U.S.-based Bitcoin ETFs indicate institutional confidence in the market. **While the current market sentiment might be bearish, Apsk32's analysis offers a compelling perspective on Bitcoin's long-term potential. However, investors should always conduct their own research before making any investment decisions.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>PowerLaw</category> <category>BullMarket</category> <category>PricePrediction</category> <category>TechnicalAnalysis</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/1065540e-95e2-468d-81b8-8a3aae046132.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[TON Blockchain to Launch New Layer-2 Network Based on Polygon Technology]]></title> <link>https://www.bitcointoday.app/article/ton-blockchain-to-launch-new-layer-2-network-based-on-polygon-technology</link> <guid>ton-blockchain-to-launch-new-layer-2-network-based-on-polygon-technology</guid> <pubDate>Tue, 09 Jul 2024 16:00:26 GMT</pubDate> <description><![CDATA[## TON Embraces Polygon's Technology for New Layer-2 Network The Open Network (TON), the popular blockchain tied to the Telegram messaging platform, is launching its own layer-2 network built on Polygon's technology. **This new protocol, named the TON Applications Chain (TAC), will leverage Polygon's Chain Development Kit (CDK) and AggLayer.** **The CDK, a customizable toolkit, empowers developers to create their own layer-2 blockchains based on Polygon's zero-knowledge technology.** AggLayer, Polygon's interoperability layer, aims to address blockchain fragmentation. According to a press release, **TAC is designed to integrate EVM-based decentralized applications into TON's ecosystem, allowing Ethereum developers to build programs for Telegram users.** **The TON team anticipates TAC to boost liquidity and accelerate DeFi adoption within the TON ecosystem.** Beyond DeFi, TAC is expected to pave the way for various innovative applications on the TON blockchain, including gaming and decentralized identity solutions. **This news follows a trend of major blockchain companies developing their own layer-2 networks over the past year.** Coinbase's "Base" blockchain, launched in August, utilized Optimism's OP Stack, while Celo and Worldcoin have also announced plans to launch layer-2 rollups with OP Stack. In April, cryptocurrency exchange OKX released its layer-2, "X Layer," with Polygon's CDK. **Pavel Altukhov, the founder of TAC, highlighted Polygon's EVM compatibility, seamless liquidity access, comprehensive support, and expertise in EVM technology as key factors in their decision.** The vibrant Polygon community also played a significant role. **This move by TON demonstrates the growing importance of layer-2 scaling solutions in the blockchain space.** By building on Polygon's technology, TON aims to enhance its ecosystem's capabilities and attract a wider range of developers and users.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>TON</category> <category>Polygon</category> <category>Layer2</category> <category>Blockchain</category> <category>DeFi</category> <enclosure url="https://www.coindesk.com/resizer/insC_vsEClCWBpSx2fmMi9WproU=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SNO55XGPJVAS7LAJNQZ3B5TKQU.jpeg" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Germany's Bitcoin Sell-Off: Is It a Good Idea?]]></title> <link>https://www.bitcointoday.app/article/germanys-bitcoin-sell-off-is-it-a-good-idea</link> <guid>germanys-bitcoin-sell-off-is-it-a-good-idea</guid> <pubDate>Tue, 09 Jul 2024 12:00:25 GMT</pubDate> <description><![CDATA[## Germany's Bitcoin Sell-Off: A Controversial Move The German government has been steadily selling off its Bitcoin holdings, acquired from the seizure of the Movie2k film piracy site. This move has been criticized by some, who argue that holding Bitcoin as a strategic reserve asset is a better strategy. The government has sent **thousands of bitcoins** to various crypto exchanges and market makers, including Kraken, B2C2 Group, and Cumberland DRW. This sell-off has resulted in a **decrease in the government's total Bitcoin holdings to less than half of the original 50,000 bitcoins**. The government's actions have also caused some **volatility in Bitcoin's price**, with the price falling by around 12% since the sell-off began in June. **Joana Cotar, an independent member of the German Bundestag, has voiced strong opposition to the government's decision**, calling it a hasty move. She believes that retaining Bitcoin as a reserve asset would have been a more strategic move. However, the government's rationale for selling remains unclear, and its motives for transferring the bitcoins to exchanges are a subject of speculation. **It remains to be seen how the German government's decision will impact the future of Bitcoin's price and its role in the global financial system.** This controversial move has sparked debate about the best way to manage crypto assets, with some arguing for holding and others advocating for selling. ## Key Takeaways * The German government has sold **a significant amount of Bitcoin** acquired from the Movie2k seizure. * The government's decision has been **criticized by some who believe in Bitcoin as a strategic asset**. * The sell-off has contributed to **volatility in Bitcoin's price**. * The government's motives for selling remain **unclear**. ## The Future of Bitcoin in Germany The German government's actions raise questions about the future of Bitcoin in the country. While the government has taken steps to regulate the crypto industry, its stance on Bitcoin remains uncertain. It remains to be seen whether the government will continue to sell its Bitcoin holdings or adopt a more supportive stance towards the asset in the future.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Germany</category> <category>Crypto</category> <category>Government</category> <category>Sell-off</category> <enclosure url="https://www.tbstat.com/wp/uploads/2019/07/german-flag-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Recovers Above $57K: ETF Inflows and German Government's Move Boost Sentiment]]></title> <link>https://www.bitcointoday.app/article/bitcoin-recovers-above-57k-etf-inflows-and-german-governments-move-boost-sentiment</link> <guid>bitcoin-recovers-above-57k-etf-inflows-and-german-governments-move-boost-sentiment</guid> <pubDate>Tue, 09 Jul 2024 16:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin Rebounds: ETF Inflows and Government Activity Fuel Market Sentiment **Bitcoin (BTC)** saw a resurgence above **$57,000** after falling to **$55,000** on Monday, driven by positive developments. A German government entity received over **$200 million** worth of Bitcoin back from various exchanges, bolstering market confidence. **BTC** was trading at around **$57,400** during the European morning, reflecting a **1% increase** in the last 24 hours. The **German Federal Criminal Police Office (BKA)** had initially sent over **$900 million** in Bitcoin to various addresses, causing concern among traders. However, **Arkham data** revealed that the entity received refunds from **Kraken, Coinbase, and Bitstamp**, confirming that the assets did not ultimately hit the market. **Spot Bitcoin ETFs** experienced **record-breaking inflows** on Monday, totaling nearly **$300 million**. This surge in demand, exceeding levels seen in early June, indicates a potential buying opportunity for investors as **Bitcoin prices dipped**. **BlackRock's IBIT** led the buying activity, recording nearly **$180 million** in net inflows, followed by **Fidelity's FBTC**. **Grayscale's GBTC**, known for its outflows, saw over **$25 million** in purchases. Some investors view the **recent price drop** as a strategic entry point. **CoinShares** believes that **July** could be a generally **bullish month** for the crypto market, with historical data showing a **medium return of 9%** during this period. This trend is anticipated to continue. **Bitcoin's mining difficulty** experienced a significant drop from **83.6 TH/s to 79.50 TH/s** on June 5, comparable to levels observed in March. This downward adjustment benefits smaller miners and enables previously closed farms to resume operations due to reduced costs. Notably, miners were responsible for a substantial portion of Bitcoin selling pressure in June, selling over **$1 billion** worth of **BTC** over two weeks. **Chart of the Day:** The chart shows a **net outflow of over 68,000 BTC** from exchanges on Friday, marking the highest outflow since late 2022. **Outflows** generally indicate a shift towards **long-term holding strategies** by investors. **Source:** CryptoQuant]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BTC</category> <category>Crypto</category> <category>ETF</category> <category>Mining</category> <enclosure url="https://www.coindesk.com/resizer/C-EWPeuvrLc7nJASGC1yt-vtKP0=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/I2HWTAIZLFGA5M6POSWGYOWLFE.JPG" length="0" type="image/JPG"/> </item> <item> <title><![CDATA[Crypto Scams: How to Protect Yourself - Expert Tips from AARP Virginia]]></title> <link>https://www.bitcointoday.app/article/crypto-scams-how-to-protect-yourself-expert-tips-from-aarp-virginia</link> <guid>crypto-scams-how-to-protect-yourself-expert-tips-from-aarp-virginia</guid> <pubDate>Tue, 09 Jul 2024 21:00:25 GMT</pubDate> <description><![CDATA[## Cryptocurrency Scams: A Growing Threat Cryptocurrency has become increasingly popular, but unfortunately, so have scams targeting investors. AARP Virginia volunteer, Katherine Jackson, recently shared valuable insights on how to protect yourself. **Common Cryptocurrency Scams:** * **Fake investment opportunities:** Scammers often create fake websites and social media profiles to lure investors into bogus investment schemes. * **Phishing emails and texts:** Be wary of emails or texts claiming to be from a reputable company or individual, asking for your personal information or login credentials. * **Romance scams:** Scammers may use dating apps or social media platforms to build trust with potential victims before asking for money in cryptocurrency. **How to Stay Safe:** * **Be cautious of investment offers:** Always research the company or individual behind any investment opportunity. Look for red flags like unrealistic returns or high-pressure sales tactics. * **Protect your personal information:** Never share your login credentials or personal information in response to unsolicited emails or texts. * **Use strong passwords:** Use strong and unique passwords for all your online accounts. * **Report scams to the authorities:** If you believe you have been a victim of a cryptocurrency scam, report it to the authorities and your financial institution. **AARP Virginia is a valuable resource for seniors and their families.** They offer information and support on a wide range of topics, including financial scams. Visit their website or social media pages for more information. **Remember, if something seems too good to be true, it probably is.** Stay informed and vigilant to protect yourself from cryptocurrency scams.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>Scams</category> <category>FinancialSecurity</category> <category>Cybersecurity</category> <category>AARP</category> <enclosure url="https://ewscripps.brightspotcdn.com/dims4/default/bd5fa46/2147483647/strip/true/crop/1920x1008+0+36/resize/1200x630!/quality/90/?url=https%3A%2F%2Fx-default-stgec.uplynk.com%2Fause%2Fslices%2F0ef%2Fab537de11df9456cb23cbc1d7e732de9%2F0efcc808d1764d08a65d11036e76c35c%2Fposter_ea8bf1b515bd44e6bf48ca769bd5e83c.jpg" length="0" type="image//dims4/default/bd5fa46/2147483647/strip/true/crop/1920x1008+0+36/resize/1200x630!/quality/90/"/> </item> <item> <title><![CDATA[Bitcoin Futures: Institutional Surge and Ethereum ETF's Potential Impact]]></title> <link>https://www.bitcointoday.app/article/bitcoin-futures-institutional-surge-and-ethereum-etfs-potential-impact</link> <guid>bitcoin-futures-institutional-surge-and-ethereum-etfs-potential-impact</guid> <pubDate>Tue, 09 Jul 2024 23:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Futures: Institutional Surge and Ethereum ETF's Potential Impact The first half of 2024 has witnessed significant developments in the digital assets market, especially for Bitcoin and Ethereum. A recent report by Glassnode and CME highlights the evolving landscape of futures markets. Traditionally, **perpetual open interest** dominated the market. However, 2024 has seen a notable increase in **calendar expiring futures**, driven by a surge in institutional investor interest, primarily through CME Group Instruments. **Bitcoin's open interest** now shows a greater reliance on calendar expiring contracts, suggesting a shift in investor preference toward **traditional futures contracts**. **Ethereum's market**, however, remains dominated by perpetual open interest. The upcoming launch of the **Ethereum ETF** in July raises questions about whether this dynamic might shift in Ethereum's market. **CME's Bitcoin futures dominance** is evident, representing over one-third of all open futures contracts positions. CME's trade volume is also growing, reaching a multi-year high. This report highlights the growing influence of institutional investors in shaping the futures market, particularly through CME's offerings. The upcoming Ethereum ETF launch suggests potential shifts in market forces and could further impact the trajectory of both Bitcoin and Ethereum futures markets.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Ethereum</category> <category>Futures</category> <category>ETF</category> <category>InstitutionalInvestors</category> <enclosure url="https://cryptoslate.com/wp-content/uploads/2024/07/eth.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Price Stabilizes: Could a Rebound Be on the Horizon?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-price-stabilizes-could-a-rebound-be-on-the-horizon</link> <guid>bitcoin-price-stabilizes-could-a-rebound-be-on-the-horizon</guid> <pubDate>Tue, 09 Jul 2024 19:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Shows Signs of Stabilization: Experts Predict a Rebound Bitfinex, a leading cryptocurrency exchange, is reporting encouraging signs that Bitcoin prices may have reached a local bottom and are starting to stabilize. This news comes after a period of intense volatility, with Bitcoin hitting a low of $53,219 last week due to concerns about Bitcoin sales by the German government and Mt. Gox creditors. However, Bitcoin has since bounced back above the $57,000 mark, with a notable decrease in price fluctuations. Derivatives market data indicates a significant drop in volatility, suggesting traders anticipate a more stable market. This is further supported by the short-term holder spent output profit ratio (SOPR), which currently sits at 0.97, meaning short-term sales are happening at a loss, potentially reducing selling pressure and contributing to price stability. **What Does This Mean for the Future of Bitcoin?** Bitfinex analysts remain optimistic, pointing out that long-term Bitcoin holders continue to profit, indicating a healthy market overall. While short-term sales are diminishing, the possibility of reduced selling pressure suggests a more stable environment for prices. Furthermore, Citi Bank forecasts of rate cuts by the US Federal Reserve could inject liquidity into financial markets, leading to renewed interest in risky assets like Bitcoin and further strengthening its position. **Stay Informed and Stay Ahead** This news provides a glimmer of hope for Bitcoin investors and could be a positive sign for the future of the cryptocurrency. It's important to stay informed and follow market trends as they unfold. **Remember, this information is not financial advice, and you should always conduct your own research before making investment decisions.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Cryptocurrency</category> <category>Market</category> <category>Volatility</category> <category>Bitfinex</category> <enclosure url="https://www.cointribune.com/app/uploads/2024/07/bitcoin-Bitfinex.png?nowebp" length="0" type="image/png"/> </item> <item> <title><![CDATA[JPMorgan's Dire Warning for Bitcoin: Has the Bull Run Peaked?]]></title> <link>https://www.bitcointoday.app/article/jpmorgans-dire-warning-for-bitcoin-has-the-bull-run-peaked</link> <guid>jpmorgans-dire-warning-for-bitcoin-has-the-bull-run-peaked</guid> <pubDate>Tue, 09 Jul 2024 09:00:29 GMT</pubDate> <description><![CDATA[## JPMorgan's Dire Warning for Bitcoin: Has the Bull Run Peaked? **JPMorgan** has issued a stark warning for Bitcoin bulls, stating that the cryptocurrency has already reached its peak in terms of valuation and trading volume. The bank cites multiple reasons for their bearish outlook, including: * **Unsustained Bullish Momentum:** Bitcoin's inability to maintain its climb after reaching $73,737 in March, followed by a significant correction, points to a possible peak. * **Underperformance vs. Equities:** Bitcoin has lagged behind the U.S. equities market due to bearish factors like Mt. Gox repayments and large-scale government sales. * **Disappointing ETF Performance:** Bitcoin exchange-traded funds (ETFs) experienced a $662 million outflow in June, indicating waning investor interest. **However**, there are still some analysts who remain optimistic about Bitcoin's long-term potential, with predictions for prices to reach $150,000 in the coming years. This optimism is fueled by factors like growing demand for Bitcoin spot ETFs, which saw $295 million worth of inflows on July 8. The current market situation is a complex interplay of bearish and bullish forces. While JPMorgan's warning shouldn't be disregarded, it's important to consider all perspectives and conduct thorough research before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>JPMorgan</category> <category>MarketSentiment</category> <category>Cryptocurrency</category> <category>ETF</category> <enclosure url="https://u.today/sites/default/files/styles/twitter/public/2024-07/4523532.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Best Crypto To Buy Now In July 2024: Expert Picks & High-Potential Alternatives]]></title> <link>https://www.bitcointoday.app/article/best-crypto-to-buy-now-in-july-2024-expert-picks-high-potential-alternatives</link> <guid>best-crypto-to-buy-now-in-july-2024-expert-picks-high-potential-alternatives</guid> <pubDate>Tue, 09 Jul 2024 02:00:25 GMT</pubDate> <description><![CDATA[## **The Best Crypto To Buy Now: A Comprehensive Guide** The cryptocurrency market is booming, leaving many investors wondering which coins to invest in. This comprehensive guide, updated daily, explores top cryptocurrencies for July 2024, including established names like Bitcoin and Ethereum, and promising newcomers like PlayDoge, WienerAI, and 99Bitcoins. ### **Why Trust Techopedia Crypto?** Techopedia Crypto adheres to strict editorial policies, ensuring factual accuracy, relevance, and impartiality. Our team of in-house experts conducts thorough research on each cryptocurrency, analyzing market potential, liquidity, trading volume, price history, use cases, and long-term viability. ### **Top Cryptos To Buy Now** | Token Name | Market Cap | Current Price | Best Crypto for: | |---|---|---|---| | **Bitcoin (BTC)** | $1,11T | $56,358 | **Long-Term Investors** | | **Ethereum (ETH)** | $358M | $2,981 | **Cryptocurrency Alternative to Bitcoin** | | **Solana (SOL)** | $63M | $137 | **Fast and Cheap Transactions** | | **Ripple (XRP)** | $23M | $0.43 | **Making Payments** | | **Cardano (ADA)** | $13M | $0.36 | **Scalability** | | **Tether (USDT)** | $112M | $1 | **Stable Value** | **💡 All information in the table above is updated daily to provide the most accurate and current data.** ### **High-Potential Alternatives to Bitcoin** This section delves into six of the most established cryptocurrencies, providing a comprehensive understanding of their origins, key features, and investment potential. **1. Bitcoin (BTC) – The Original and the Most Popular Cryptocurrency in the World** * **Main Features:** Store of value, popularity, trading Created in 2009 by the anonymous Satoshi Nakamoto, Bitcoin is the original cryptocurrency and has become a household name. Its value is projected to continue rising, especially after the halving event in 2028. **2. Ethereum (ETH) – The Most Popular Platform to Create Web3 dApps** * **Main Features:** dApps, smart contracts, staking Ethereum is the second most popular cryptocurrency in the world and has many more use cases than Bitcoin, including the creation of web3 products such as dApps, NFTs, and DeFi services. **3. Solana (SOL) – A Faster, Cheaper, and More Secure Ecosystem** * **Main Features:** dApps, staking Solana is an ultra-fast blockchain and for some, the next Ethereum. It offers higher transaction speeds and lower fees than Ethereum. **4. Ripple (XRP) – The Top 10 Crypto That Aims To Replace The SWIFT System** * **Main Features:** Lightning-fast international payments, low token price Ripple is a global payments network that aims to replace or facilitate the SWIFT banking system. Its blockchain allows for fast and efficient international payments. **5. Cardano (ADA) – More Efficient Alternative to Ethereum That Might Explode in Value** * **Main Features:** Increased security, anonymity Cardano is a cryptocurrency project that aims to compete with Ethereum and Solana in the smart contract market. It is known for its high levels of anonymity and security. **6. Tether – The Most Popular And Most Used Stablecoin** * **Main Features:** Stablecoin, suitable for frequent trading Tether is a stablecoin that is pegged to the US Dollar, meaning its price is always $1. It is less volatile than other cryptocurrencies and is useful for everyday transactions. ### **Top 13 High-Potential Cryptocurrencies of July, 2024** | Token Name | Current Price | Top Crypto for: | |---|---|---| | **Pepe Unchained (PEPU)** | $0.0083258 | **Low Fees and Fast Transactions** | | **WienerAI (WAI)** | $0.000726 | **Trading Predictions** | | **PlayDoge (PLAY)** | $0.00516 | **Utility and Rewards** | | **Shiba Shootout (SHIBASHOOT)** | $0.0195 | **Fans of the Wild West** | | **Base Dawgz (DAWGZ)** | $0.00581 | **Airdrop Rewards** | | **Mega Dice Token (DICE)** | $0.0866 | **Profit-Sharing Opportunities** | | **99Bitcoins (99BTC)** | $0.00112 | **Earn Crypto While Learning** | | **Sponge V2 (SPONGE)** | $0.000091 | **Original Sponge Fans** | | **eTukTuk (TUK)** | $0.0345 | **Play2Earn Game Utility** | | **Doge2014 (DOGE2014)** | $0.00027 | **Dogecoin Fans** | | **SpacePay (SPY)** | $0.00162 | **Revolutionary Payment Transactions** | | **Race to a Billion (BDJ)** | $0.0076 | **F1 Racing and Passive Earning** | | **Choc (CHOC)** | N/A | **Massive Follower Base** | ### **Analysis of the 5 Most Popular Cryptocurrencies of 2024** **1. Pepe Unchained (PEPU) – The Best Crypto Coin of 2024 with Low Fees and Fast Transactions** * **Main Features:** Layer-two meme token, dynamic staking rewards, lower fees Pepe Unchained is one of the first meme coins to embrace the layer-two (L2) Ethereum blockchain network. It offers benefits such as reduced operational costs and increased efficiency, allowing for huge staking rewards. **2. WienerAI ($WAI) – The Best Cryptocurrency to Buy For Trading Predictions** * **Main Features:** AI powered trading, zero fees, seamless transactions, staking rewards, strong “Sausage Army” community WienerAI combines AI technology with trading to provide predictive, real-time market analysis with zero fees. It also has a standard staking mechanic to encourage long-term holding. **3. PlayDoge (PLAY) – Best Crypto to Invest in Now with Utility and Rewards** * **Main Features:** play-to-earn Tamagotchi-style mobile game, generous staking APY, rewards for players enjoying the game, in-game and real-life utility PlayDoge is a play-to-earn game where players care for a virtual Doge while earning $PLAY tokens in return. It combines the beloved Doge meme with a play2earn model. **4. Mega Dice (DICE) – The Best Crypto to Buy in 2024 With Profit Sharing Opportunities** * **Main Features:** daily staking rewards, special NFTs, early purchase bonuses, 25% revenue referral share MegaDice is a gamefi crypto platform that offers rewards and casino profit shares to both players and token holders. **5. 99Bitcoins (99BTC) – Best Learn-to-Earn Crypto to Buy** * **Main Features:** learn-to-earn crypto platform, staking rewards, access to exclusive content, an airdrop 99Bitcoins is a crypto-learning platform that rewards users with 99BTC tokens for completing educational modules on cryptocurrency. ### **Investing in Cryptocurrency: Risks and Rewards** **Potential for Large Gains:** Cryptocurrencies have the potential to generate large gains, but they are also a volatile asset class. **Lower Prices During the Current Bear Market:** The current bull market means that those buying cryptocurrencies today will enter the market at a higher price point. New and presale coins can offer potential for high returns. **Some Cryptocurrencies Are Decentralized:** Some cryptocurrencies have decentralized frameworks, which means that nobody controls the network. This can provide greater financial autonomy and security. **Cryptocurrencies Are Volatile:** The cryptocurrency market can witness huge price swings. **Some Cryptocurrencies Are Scams:** Be aware of scams and always do your own due diligence before investing. **Third-Party Risks:** Consider third-party risks such as hacking attempts and exchange collapses. ### **How to Pick the Best Crypto to Invest In** When picking the best cryptocurrency to invest in, consider these factors: * **Market Potential:** Look for cryptocurrencies that have a strong market and growth potential. * **Use Cases and Utility:** Projects that have practical use in the real world are often more likely to succeed. * **Security:** Always look into a coin’s history to see if there have ever been any security breaches. * **Technological Innovation:** Cutting-edge technology and striving for continuous innovation can provide a competitive edge. * **Development Team:** Research the development team behind the cryptocurrency. ### **Best Payment Methods to Buy Crypto** * **Credit Card:** Convenient and quick * **PayPal:** Convenient and quick * **Prepaid Card:** Provides an added layer of security ### **How to Invest in Crypto - Step By Step Process** 1. Open a crypto trading account with a regulated crypto broker or exchange. 2. Complete KYC requirements to unlock bank transfers. 3. Deposit funds into your account via several payment methods. 4. Search for cryptos via the search tab. 5. Tap the Trade button and specify how much of the particular crypto you’d like to buy. ### **Conclusion** The challenge of identifying the best crypto to buy now is harder than ever because of the sheer number of cryptocurrencies available. We did our best to list the most well-known and reputable coins, as well as some novel projects that have just started. Remember to diversify your cryptocurrency investments and invest a small percentage of your funds into smaller projects as well. **All in all, the top crypto to buy today is Pepe Unchained.** This Layer2 crypto offers high staking rewards and low gas fees. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>Bitcoin</category> <category>Ethereum</category> <category>PlayDoge</category> <category>WienerAI</category> <enclosure url="https://www.techopedia.com/wp-content/uploads/2023/10/cheapest_crypto_to_buy.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[China's Crypto Flip: Could This Be Bitcoin's Big Comeback?]]></title> <link>https://www.bitcointoday.app/article/chinas-crypto-flip-could-this-be-bitcoins-big-comeback</link> <guid>chinas-crypto-flip-could-this-be-bitcoins-big-comeback</guid> <pubDate>Tue, 09 Jul 2024 15:00:26 GMT</pubDate> <description><![CDATA[## China's Crypto Comeback: A New Era For Bitcoin? After years of a strict crackdown, whispers of China's potential return to the cryptocurrency market are growing louder. Following a recent legal victory, crypto entrepreneur Justin Sun believes that China is poised to "flip" on Bitcoin and cryptocurrencies. Sun, founder of the Tron blockchain and owner of the Poloniex exchange, highlights the importance of his legal victory in China, emphasizing that it clears up misconceptions about the country's stance on crypto. This victory, coupled with Brock Pierce's prediction of China's inevitable reopening to crypto, suggests a potential shift in the global landscape. **Key Developments:** * **Sun's Legal Win:** Justin Sun's recent legal victory in China against allegations of insider trading has been seen as a positive step towards legitimizing cryptocurrency in the country. * **China's 2021 Ban:** The 2021 ban on cryptocurrency trading and mining in China led to a significant dip in Bitcoin's price. * **Hong Kong's Potential:** The emergence of potential Hong Kong spot Bitcoin ETFs, with the possibility of eventual access for mainland China investors, fuels speculation about a broader crypto revival in the region. **The Potential Impact:** If China does indeed embrace cryptocurrency, it could have a significant impact on the global market. The nation's immense economic power and potential influx of investors could propel Bitcoin and other cryptocurrencies to new heights. This potential shift remains speculative, but the recent developments in China suggest a growing possibility of a crypto comeback. Keep an eye on this situation as it unfolds.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>China</category> <category>Cryptocurrency</category> <category>Market</category> <enclosure url="https://imageio.forbes.com/specials-images/imageserve/648ee69ed5ef741d05b1e994/0x0.jpg?format=jpg&height=900&width=1600&fit=bounds" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Next Big Run: Is $100k on the Horizon?]]></title> <link>https://www.bitcointoday.app/article/bitcoins-next-big-run-is-100k-on-the-horizon</link> <guid>bitcoins-next-big-run-is-100k-on-the-horizon</guid> <pubDate>Tue, 09 Jul 2024 18:00:26 GMT</pubDate> <description><![CDATA[## Bitcoin: Poised for Another Rally? Following a recent pullback, Bitcoin has found support and is primed for another climb. Analysts at Inside Edge Capital, using Elliott Wave analysis, believe support has formed around $59k - $49k, potentially setting the stage for a third attempt to breach the $65k - $73k resistance zone. **The bullish prediction points to a potential target zone of $105k - $109k in 2024.** **A Look at the Macro Environment** While there may be short-term headwinds from the possible influx of Bitcoin supply, there are also macro tailwinds that could fuel the rally. - **Gold and Bitcoin:** These assets exhibit a strong positive correlation, likely due to their inverse relationship with US bond yields. - **Inflation and Interest Rates:** Higher inflation and interest rates negatively impact Bitcoin, gold, and the stock market. However, if the market remains bullish, higher Bitcoin and gold prices could lead to lower interest rates. **Bitcoin vs. Gold: A Tale of Two Assets** Bitcoin has significantly outperformed gold since the 2022 lows, with a 280% rally compared to gold's 45%. This outperformance, evident in the weekly ratio chart of Bitcoin/Gold, indicates Bitcoin is poised to reassert its dominance over gold. **Inside Edge Capital's Strategy** The firm believes Bitcoin and gold will rise alongside lower US yields, with Bitcoin expected to outperform gold. They have recently added a 2% holding of the new iShares Bitcoin Trust (IBIT) to their Tactical Alpha Growth portfolio, signaling their bullish sentiment. **Disclaimer:** This content is for informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketAnalysis</category> <category>Investment</category> <category>Bullish</category> <enclosure url="https://image.cnbcfm.com/api/v1/image/107432291-1719240565175-gettyimages-2150568181-HL_TDURAND_2372250.jpeg?v=1719240719&w=1920&h=1080" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[German Bitcoin Sales Shake Up the Market: Is This the Start of a Correction?]]></title> <link>https://www.bitcointoday.app/article/german-bitcoin-sales-shake-up-the-market-is-this-the-start-of-a-correction</link> <guid>german-bitcoin-sales-shake-up-the-market-is-this-the-start-of-a-correction</guid> <pubDate>Mon, 08 Jul 2024 22:00:24 GMT</pubDate> <description><![CDATA[## Germany's Bitcoin Sell-Off: A Cause for Market Volatility? In recent weeks, Bitcoin has experienced significant price swings, fluctuating between $54,400 and $58,200. This volatility coincides with the German government's ongoing sale of its Bitcoin holdings. **The German government has been steadily selling its Bitcoin since April, with the most recent sale involving 5,200 Bitcoin, worth $293.76 million.** This selling activity has had a tangible impact on the market, with futures contracts shrinking and spot selling intensifying. **Analysts are suggesting that the combined effect of government sales, spot selling, and the closing of futures contracts is contributing to the current market dynamics and the observed price volatility.** **However, it's important to note that the market is complex and influenced by multiple factors.** While the German government's sales may be contributing to the volatility, it's not the sole driver. Other factors, such as global macroeconomic trends and investor sentiment, also play a role. **This situation raises important questions about the future of Bitcoin and the role of government intervention in the crypto market.** As the German government continues to sell its Bitcoin, it will be interesting to observe the impact on market sentiment and price trends.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Germany</category> <category>MarketVolatility</category> <category>CryptoMarket</category> <category>GovernmentIntervention</category> <enclosure url="https://cryptoslate.com/wp-content/uploads/2024/07/GG-2.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Bear Trap Before Explosive Move: Analyst Predicts Huge Price Surge]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bear-trap-before-explosive-move-analyst-predicts-huge-price-surge</link> <guid>bitcoin-bear-trap-before-explosive-move-analyst-predicts-huge-price-surge</guid> <pubDate>Mon, 08 Jul 2024 21:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin's Bear Trap: A Setup for a Massive Price Rally? Crypto analyst TechDev believes Bitcoin (BTC) is currently in a **bear trap**, a period of decline intended to shake out weak holders before a powerful upward surge. This idea is supported by several technical indicators, including the **Net Unrealized Profit and Loss (NUPL)**, which tracks overall market sentiment. TechDev sees Bitcoin's NUPL moving through four stages in a bull cycle: **hope, optimism, belief, and euphoria**. Currently, Bitcoin is in the **belief stage**, where analysts predict the largest rallies within a bull market. TechDev also identifies 16 stages of the Bitcoin market cycle, placing BTC in the **bear trap** phase. He believes that this correction, driven by overvaluation concerns and fears of a cycle end, will pave the way for a significant push into the **euphoria** zone. To back his claim, TechDev analyzes the **Relative Strength Index (RSI)** and **Chaiken Money Flow (CMF)**, two indicators known for their accuracy in identifying bull market tops and bottoms. While the RSI hasn't yet hit its descending resistance line, a signal of previous bull market ends, the CMF has just broken through a resistance level, a historical indicator of major Bitcoin rallies. This confluence of technical analysis suggests that the current downward pressure on Bitcoin may be temporary, setting the stage for a potential **explosive price surge** in the future. **Disclaimer:** This information is for educational purposes and not financial advice. Always conduct thorough research and consult a financial professional before making investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BTC</category> <category>Crypto</category> <category>TechnicalAnalysis</category> <category>BearTrap</category> <enclosure url="https://dailyhodl.com/wp-content/uploads/2024/03/CryptoQuant-CEO-Says-Bitcoin.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[German Government Continues Bitcoin Selling Spree: Is This a Bad Move?]]></title> <link>https://www.bitcointoday.app/article/german-government-continues-bitcoin-selling-spree-is-this-a-bad-move</link> <guid>german-government-continues-bitcoin-selling-spree-is-this-a-bad-move</guid> <pubDate>Mon, 08 Jul 2024 09:00:26 GMT</pubDate> <description><![CDATA[## German Government Continues Bitcoin Selling Spree: Is This a Bad Move? The German government is continuing its controversial decision to sell its Bitcoin holdings. This week, they transferred 250 BTC to Bitstamp and another 250 BTC to Coinbase, totaling nearly $28 million at current prices. Additionally, 500 BTC were transferred to an unlabelled address, potentially belonging to a centralized crypto exchange or OTC service. This news comes as the German government already holds 38,826 BTC on known addresses, worth a staggering $2.17 billion. Despite this, the government continues to sell, a move that has been heavily criticized by some politicians, including **Joana Cotar**, a member of the German Bundestag. Cotar argues that this hasty selling spree is **"counterproductive"** and **"not sensible"**, especially as other countries are considering holding Bitcoin as a strategic reserve currency. **Cotar's criticism highlights a growing debate within Germany about the government's Bitcoin strategy. While some see it as a valuable asset, others, like Cotar, argue that the government should be adopting a more strategic approach instead of simply selling.** This news has contributed to the recent decline in Bitcoin's price, which is down 3.34% on the day. **The ongoing selling pressure from the German government is raising concerns about further price drops in the short term.** **It remains to be seen how the German government will continue to manage its Bitcoin holdings. However, the current situation underscores the importance of strategic decision-making in navigating the ever-changing crypto landscape.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Government</category> <category>Crypto</category> <category>Germany</category> <category>Selling</category> <enclosure url="https://www.tbstat.com/wp/uploads/2019/07/german-flag-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's 'Dead Cat Bounce' - Is a Double Top Brewing? 5 Key Things to Know This Week]]></title> <link>https://www.bitcointoday.app/article/bitcoins-dead-cat-bounce-is-a-double-top-brewing-5-key-things-to-know-this-week</link> <guid>bitcoins-dead-cat-bounce-is-a-double-top-brewing-5-key-things-to-know-this-week</guid> <pubDate>Mon, 08 Jul 2024 10:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin's Rollercoaster Ride Continues: Brace Yourself for a Busy Week The crypto market is on edge this week, with Bitcoin (BTC) failing to rally above $54,300 and traders fearing further price declines. The recent drawdown, while historically small, has left many investors underwater, with the **Crypto Fear and Greed Index** nearing **'extreme fear'**. ### The Bearish Outlook: * **'Dead Cat Bounce' Concerns:** Traders are questioning the recent bounce, calling it a 'dead cat bounce' and anticipating further price dips in the coming weeks. * **Sell Signals:** Technical indicators like the Bollinger Bands and the weekly RSI are flashing sell signals, suggesting that more downside is likely. * **Double Top Formation:** Veteran trader Peter Brandt believes Bitcoin might be forming a double top formation, hinting at a potential price target of $44,000. * **Macroeconomic Factors:** The US Consumer Price Index (CPI) and Producer Price Index (PPI) releases, along with testimony from Federal Reserve Chair Jerome Powell, will heavily influence market sentiment this week. ### A Glimpse of Hope? While the market outlook remains bearish, there are a few factors that could offer some hope: * **Short-Term SOPR:** The spent output profit ratio (SOPR) for short-term holders suggests the price could be nearing the bottom, with a pattern similar to the one seen last September. * **Sentiment at 2021 Highs:** The Crypto Fear and Greed Index is now at levels similar to those seen during the 2021 Bitcoin bull market, which some traders believe could be a bullish sign. **This week promises to be action-packed for Bitcoin, with both bearish and bullish signals playing out. It's crucial to stay informed and adapt to the evolving market dynamics.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Sentiment</category> <category>TechnicalAnalysis</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/813cc5b2-b0ba-4205-8562-300a859f4319.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto Owners: Are They More Prone to Conspiracy Theories and Extremist Views?]]></title> <link>https://www.bitcointoday.app/article/crypto-owners-are-they-more-prone-to-conspiracy-theories-and-extremist-views</link> <guid>crypto-owners-are-they-more-prone-to-conspiracy-theories-and-extremist-views</guid> <pubDate>Mon, 08 Jul 2024 01:00:24 GMT</pubDate> <description><![CDATA[## Crypto Owners: A Unique Psychological Profile? A recent study dives deep into the psychological and political landscape of cryptocurrency owners, uncovering intriguing connections. The study suggests a correlation between cryptocurrency ownership and certain personality traits, including: * **Conspiratorial Thinking:** Cryptocurrency owners might be more susceptible to believing in conspiracy theories, possibly fueled by the decentralized and sometimes opaque nature of the crypto world. * **Extremist Political Views:** The study indicates a potential link between crypto ownership and holding extreme political views, both on the left and right spectrums. This could be attributed to the inherent disruption and revolution that cryptocurrencies represent. * **'Dark' Personality Traits:** The study hints at a higher prevalence of 'dark' personality traits like narcissism and psychopathy among crypto owners. These traits could be associated with the risk-taking and potentially volatile nature of the cryptocurrency market. **Important Note:** While the study suggests these correlations, it's crucial to remember that correlation doesn't equal causation. Further research is needed to establish a definitive link and understand the underlying factors driving these observed patterns. **Implications:** This study raises questions about the psychological profile of individuals drawn to cryptocurrencies and the potential influence of these traits on the broader crypto ecosystem. **The Future of Crypto Research:** As the cryptocurrency market continues to evolve, researchers will play a critical role in understanding the complex relationship between individuals, technology, and the economic and social implications of cryptocurrencies.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>cryptocurrency</category> <category>psychology</category> <category>politics</category> <category>conspiratorialthinking</category> <category>personalitytraits</category> <enclosure url="https://d2jx2rerrg6sh3.cloudfront.net/images/news/ImageForNews_784581_1720392715158134.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Drops Below $56k: Crypto Market Suffers Major Dip, Analysts Predict Further Downward Pressure]]></title> <link>https://www.bitcointoday.app/article/bitcoin-drops-below-56k-crypto-market-suffers-major-dip-analysts-predict-further-downward-pressure</link> <guid>bitcoin-drops-below-56k-crypto-market-suffers-major-dip-analysts-predict-further-downward-pressure</guid> <pubDate>Mon, 08 Jul 2024 09:00:26 GMT</pubDate> <description><![CDATA[## Crypto Market Faces Downward Pressure: Bitcoin Drops Below $56k The cryptocurrency market experienced a significant downturn on July 8th, with **Bitcoin**, **Ethereum**, and **Solana** leading the decline. The global market cap plunged to **$2.04 trillion** in the last 24 hours, reflecting a 3.3% drop. Analysts attribute this dip to several factors, including the **seized BTC sales by the German and U.S. governments** and **refunds to Mt. Gox users**, as well as **mixed macro data**. **Bitcoin**, in particular, faced selling pressure, falling below the key **$56,000 support level**. The CoinDCX Research Team predicts a period of **sideways consolidation** in the short term, with the **U.S. CPI data** expected to influence the market's direction. The **CoinSwitch Markets Desk** highlighted the **Crypto Fear & Greed Index** dropping to its lowest point since January 2023, further indicating a bearish sentiment. Experts suggest a potential dip towards **$50,000** for **Bitcoin** due to the ongoing selling pressure. Other prominent cryptocurrencies, including **XRP**, **Toncoin**, **Dogecoin**, **Cardano**, **Tron**, **Shiba Inu**, **Polkadot**, and **Polygon** also experienced declines of up to 5%. **NEAR Protocol** saw a significant drop of 7.2%. Despite the overall bearish sentiment, **Bitcoin**'s support level around **$52,000 to $50,000** might attract buying interest, potentially leading to a renewed uptrend. ### Key Takeaways: * The cryptocurrency market saw a significant decline on July 8th, with **Bitcoin**, **Ethereum**, and **Solana** leading the drop. * Analysts cite factors like **seized BTC sales**, **Mt. Gox refunds**, and **mixed macro data** as contributors to the downward pressure. * The **Crypto Fear & Greed Index** reached its lowest point since January 2023, indicating a bearish sentiment. * **Bitcoin** could experience further dips towards **$50,000**, but the **$52,000 to $50,000 support zone** might offer buying opportunities. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Cryptocurrency</category> <category>Market</category> <category>Sentiment</category> <category>Analysis</category> <enclosure url="https://m.economictimes.com/thumb/height-450,width-600,imgsize-313290,msid-111574358/crypto-price-today.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Price Surges Past $57,000, Triggering $160 Million in Liquidations]]></title> <link>https://www.bitcointoday.app/article/bitcoin-price-surges-past-57-000-triggering-160-million-in-liquidations</link> <guid>bitcoin-price-surges-past-57-000-triggering-160-million-in-liquidations</guid> <pubDate>Mon, 08 Jul 2024 15:00:28 GMT</pubDate> <description><![CDATA[## Bitcoin Price Retakes $57,000, Causing $160 Million in BTC Liquidations Despite significant selling pressure from BTC movements from the Mt. Gox estate and the German government, **Bitcoin has retaken the $57,000 mark**. This surge in price has led to **$160 million in Bitcoin liquidations**, highlighting the volatility of the cryptocurrency market. **Key Factors Influencing Bitcoin's Price Movement:** * **Mt. Gox Estate Sales:** The Mt. Gox estate has been gradually selling its Bitcoin holdings, creating downward pressure on the price. * **German Government Liquidation:** The German government is also selling some of its confiscated Bitcoin, adding to the selling pressure. * **Overall Market Sentiment:** The crypto market remains volatile, with investors cautiously navigating the current economic climate. **Despite the selling pressure, Bitcoin has managed to regain its momentum and break above $57,000**. This suggests that **buy orders are outweighing sell orders, indicating potential bullish sentiment in the market.** However, it is essential to remain cautious, as the market is prone to rapid swings. **Conclusion:** Bitcoin's price performance in recent days is a testament to its volatility. While the Mt. Gox and German government sales have created selling pressure, **Bitcoin's ability to recover and break above $57,000 suggests a potential shift in market sentiment.** However, it is crucial to monitor market developments closely and stay informed about potential factors that could impact Bitcoin's price in the future.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BTC</category> <category>Crypto</category> <category>Cryptocurrency</category> <category>MarketSentiment</category> <enclosure url="https://cdn.decrypt.co/resize/1024/height/512/wp-content/uploads/2024/02/bitcoin-trading-ai-gID_7.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Options Traders Doubling Down on Downside Bets: Is This a Bearish Signal?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-options-traders-doubling-down-on-downside-bets-is-this-a-bearish-signal</link> <guid>bitcoin-options-traders-doubling-down-on-downside-bets-is-this-a-bearish-signal</guid> <pubDate>Mon, 08 Jul 2024 13:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Options Traders Betting on Downside: Bearish Signals? Bitcoin options traders are increasing their bets on a **price decline**, according to analysts. The recent price correction has sparked an **increased demand for downside protection**, leading to a spike in put options. **Key Findings:** * **Put-call ratio**: The put-call ratio for bitcoin options open interest has risen above one, indicating more traders are betting on a price decline. * **Open interest**: The largest cluster of options open interest is for puts at a strike price of $58,000, with significant concentrations at $52,000 and $48,000. * **Implied volatility**: Short-dated bitcoin options implied volatility has surged, suggesting anticipation of **near-term price volatility**. **Bearish Market Signal:** The **inverted term structure of volatility**, with short-dated options trading at higher implied volatilities than longer-dated ones, is often seen as a sign of **overextended bearishness** in the options market. **Conclusion:** The recent increase in downside bets and implied volatility is a cause for concern for bullish traders. It highlights the uncertainty surrounding bitcoin's price trajectory in the short term.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>OptionsTrading</category> <category>MarketSentiment</category> <category>PriceVolatility</category> <category>Crypto</category> <enclosure url="https://www.tbstat.com/wp/uploads/2024/05/20240509_Bitcoin_News_1-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto Market Rollercoaster: Bitcoin, Ethereum, and Solana's Big Week]]></title> <link>https://www.bitcointoday.app/article/crypto-market-rollercoaster-bitcoin-ethereum-and-solanas-big-week</link> <guid>crypto-market-rollercoaster-bitcoin-ethereum-and-solanas-big-week</guid> <pubDate>Mon, 08 Jul 2024 08:00:26 GMT</pubDate> <description><![CDATA[## A Week of Volatility and Growth in the Crypto World The crypto ecosystem continues to be a hotbed of both innovation and uncertainty. This past week saw a mix of groundbreaking announcements, technological advancements, and regulatory battles. ### Mt. Gox Reimbursements Shake the Market After ten years of legal battles, the former bitcoin exchange platform Mt. Gox is finally reimbursing its creditors. This news, however, sent shockwaves through the market, leading to massive liquidations exceeding $675 million in 24 hours. The selling pressure from the newly reimbursed BTC significantly impacted Bitcoin's price. ### Ethereum Powers Up with EIP-7732 Ethereum developers have introduced EIP-7732, a proposal aimed at revolutionizing block validation on the blockchain by separating the process into two parts: consensus and execution. This initiative could lead to a significant increase in transaction speed and efficiency, potentially giving Ethereum a competitive edge in the blockchain space. ### Memecoins Fuel Solana's Success Solana has emerged as a key player in the meme crypto sector, experiencing phenomenal growth. Memecoins like Dogwifhat, Bonk, and Billy have driven this surge, with Solana's market share in the memecoin sector now at 9.64%. ### Ripple and Binance's Legal Battles Ripple is leveraging a recent court decision in favor of Binance to strengthen its defense in its litigation against the SEC. This decision could have major implications for the future of cryptocurrency regulation. ### Conclusion The crypto market remains volatile and unpredictable. This past week's events demonstrate the inherent risks and rewards associated with the space. While some projects are seeing significant growth, others face challenges related to regulation and market sentiment. It's essential to stay informed about these developments and approach investments with caution.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Ethereum</category> <category>Solana</category> <category>Ripple</category> <category>Crypto</category> <enclosure url="https://www.cointribune.com/app/uploads/2024/06/investisseurs-crypto.png?nowebp" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Price Drops as Germany Unloads $500 Million in Bitcoin]]></title> <link>https://www.bitcointoday.app/article/bitcoin-price-drops-as-germany-unloads-500-million-in-bitcoin</link> <guid>bitcoin-price-drops-as-germany-unloads-500-million-in-bitcoin</guid> <pubDate>Mon, 08 Jul 2024 16:00:31 GMT</pubDate> <description><![CDATA[## Bitcoin Takes a Hit as Germany Dumps $500 Million in Crypto The price of Bitcoin (BTC) dipped on Monday, with analysts pointing to a $500 million sell-off by the German government as a contributing factor. According to blockchain data from Arkham Intelligence, the German government moved 8,700 BTC to crypto exchanges Bitstamp, Kraken, Coinbase, and market maker Flow Traders. This comes after the government began unloading its Bitcoin holdings last month, initially starting with 50,000 BTC. **This latest move reduced Germany's Bitcoin holdings to 23,788 BTC, worth approximately $1.3 billion.** The sell-off contributed to a 3% drop in Bitcoin's price, reaching as low as $55,000 before rebounding slightly to around $56,000. This price action comes after Bitcoin experienced a decline last week, reaching its lowest point since February. **Market observers believe the current slump is fueled by a combination of factors:** * **Massive supply overhang:** The summer season tends to be quiet and low-volume in the crypto market, making it more susceptible to price swings. * **Government selling:** The German government's sell-off, alongside previous asset seizures and sales by the U.S. government, is increasing the amount of Bitcoin available in the market, potentially pressuring prices down. * **Mt. Gox repayments:** The defunct crypto exchange Mt. Gox is starting to issue repayments to creditors, further adding to the supply of Bitcoin. **It remains to be seen how the combined impact of these factors will play out in the near future.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Germany</category> <category>Market</category> <category>Government</category> <enclosure url="https://www.coindesk.com/resizer/Y1pe60WbuvIZVGoUpImOirUvg6Q=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/FFBUDNZ3KJHH5GV4F6VJLJEHAY.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin's Rollercoaster Ride: Mt. Gox Repayments, German Sell-Off, and the Fed's Impact]]></title> <link>https://www.bitcointoday.app/article/bitcoins-rollercoaster-ride-mt-gox-repayments-german-sell-off-and-the-feds-impact</link> <guid>bitcoins-rollercoaster-ride-mt-gox-repayments-german-sell-off-and-the-feds-impact</guid> <pubDate>Mon, 08 Jul 2024 11:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin's Recent Dip: A Multifaceted Story The price of Bitcoin has been on a rollercoaster ride lately, plummeting despite signs of recovery. This dip can be attributed to a confluence of factors, including the anticipated repayment from Mt. Gox, the German government's sale of seized Bitcoin, and the US Federal Reserve's interest rate decisions. ### The Mt. Gox Payout The upcoming repayment to creditors of the defunct crypto exchange Mt. Gox, after a decade of delays, is generating significant market fear. The movement of 47,228 Bitcoin from Mt. Gox wallets has raised concerns about selling pressure, potentially impacting the Bitcoin market. ### The German Sell-Off Adding to the bearish sentiment, the German government has been offloading Bitcoin seized from a piracy website. The sale of 6,500 Bitcoin, worth $425 million, has contributed to the downward spiral. Further transactions involving 1,300 Bitcoin have also been observed, adding to the selling pressure. ### The Fed's Influence While not directly related to Bitcoin, the US Federal Reserve's decision to maintain interest rates at 5.5 percent has discouraged investors from taking on risky assets like Bitcoin. Higher interest rates tend to lure investors toward safer investments, potentially impacting Bitcoin's market value. ### A Room for Upward Movement Despite the recent volatility, many analysts remain optimistic about Bitcoin's future. The approval of spot Bitcoin ETFs in the US, the halving of mining rewards, and the historical trend of price expansion after halving events suggest that Bitcoin could reach a new all-time high. ### Key Takeaways - The expected repayment from Mt. Gox, the sale of seized Bitcoins by the German government, and the Fed's interest rate decisions have contributed to the recent Bitcoin dip. - Despite these bearish influences, analysts remain optimistic about Bitcoin's long-term prospects, pointing to the approval of spot Bitcoin ETFs and historical price trends. This complex interplay of events highlights the dynamic nature of the cryptocurrency market and the need for careful consideration of various factors influencing Bitcoin's price movements.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Cryptocurrency</category> <category>MtGox</category> <category>MarketSentiment</category> <category>FederalReserve</category> <enclosure url="https://images.financemagnates.com/images/bitcoin%20crash%202022_id_72648e1c-f3b4-4b92-9f13-fea76176162b_size900.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin's Rollercoaster Ride: Mt. Gox, Fed Policy, and the Future of Crypto]]></title> <link>https://www.bitcointoday.app/article/bitcoins-rollercoaster-ride-mt-gox-fed-policy-and-the-future-of-crypto</link> <guid>bitcoins-rollercoaster-ride-mt-gox-fed-policy-and-the-future-of-crypto</guid> <pubDate>Mon, 08 Jul 2024 10:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin's Wobbly Rebound: Mt. Gox, Fed Policy, and the $100,000 Dream Bitcoin has experienced another dip fueled by concerns about potential **Bitcoin sales** from creditors of the defunct **Mt. Gox exchange**. This has cast doubt on the sustainability of the crypto bull run that began in 2023. **Mt. Gox**, which went bankrupt a decade ago after a major hack, is set to return **$8 billion** worth of Bitcoin to creditors in stages. This potential influx of Bitcoin into the market has added to the **selling pressure**. **German government disposals** of seized Bitcoin and waning inflows into US **Bitcoin ETFs** have also contributed to the bearish sentiment. Some are questioning the viability of the $100,000 Bitcoin prediction. ## Technical Analysis: Signs of a Capitulation? Analysts are scrutinizing charts for signs of a **capitulation** that could mark the end of Bitcoin's decline. **Tony Sycamore**, market analyst at IG Australia, highlights the **200-day moving average** as a key indicator. ## Prolonged Losses and Monetary Policy Bitcoin has been on a **five-week losing streak**, the longest since the 2022 bear market. Some experts, like **Stefan von Haenisch**, head of trading at OSL SG, believe the **Federal Reserve's monetary policy** could influence the direction of Bitcoin's price. ## Spot-ETF Flows: Strong Demand Moderates The initial surge in demand for US Bitcoin ETFs fueled Bitcoin's record-breaking rally. However, **inflows have since moderated**. While some ETF investors are **buying the dip**, the question remains whether the recent weakness will deter further investment. ## Options Market: Bullish Bets Remain The **options market** reveals that some investors are viewing the current Bitcoin dip as temporary. **Deribit data** shows a high concentration of bullish wagers around the **$100,000 strike price**. This optimism may be linked to expectations of a **loosening Fed monetary policy** and **Donald Trump's pro-crypto stance**. ## Global Market Influence and Fed Testimony **Caroline Mauron**, co-founder of Orbit Markets, believes the crypto market will be influenced by global markets and upcoming events like **Fed Chair Jerome Powell's testimony** and **US inflation data**. These events could impact projections for **monetary policy**.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MtGox</category> <category>FederalReserve</category> <category>MarketSentiment</category> <enclosure url="https://media.zenfs.com/en/bloomberg_markets_842/119e25f655f2e610ccb2d725ae399e01" length="0" type="image//en/bloomberg_markets_842/119e25f655f2e610ccb2d725ae399e01"/> </item> <item> <title><![CDATA[Bitcoin Mining's Dark Side: The Town Suffering From a 'Nightmare' Health Crisis]]></title> <link>https://www.bitcointoday.app/article/bitcoin-minings-dark-side-the-town-suffering-from-a-nightmare-health-crisis</link> <guid>bitcoin-minings-dark-side-the-town-suffering-from-a-nightmare-health-crisis</guid> <pubDate>Mon, 08 Jul 2024 19:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Mining's Silent Threat: A Texas Town Pays the Price The small town of Granbury, Texas, is facing a health crisis that residents believe is linked to a Bitcoin mining facility operating nearby. Residents report a range of debilitating symptoms, including **hypertension, heart palpitations, chest pain, vertigo, tinnitus, migraines, and panic attacks**, all coinciding with the arrival of the mine. **The culprit? Noise pollution.** The facility's massive number of computers, running 24/7, generate a constant, loud hum that vibrates homes and disrupts sleep, reaching levels comparable to **a lawnmower or chainsaw**. Local authorities, facing limited regulations and powerful corporate interests, struggle to enforce noise ordinances and protect residents. **While the Bitcoin mining industry touts economic benefits and job creation, the human and environmental costs are becoming increasingly apparent.** The case of Granbury highlights the potential for conflict between technological advancement and the well-being of communities. The industry's rapid expansion, driven by the insatiable demand for Bitcoin and artificial intelligence, raises concerns about the unchecked impacts on public health and the environment. ### The Silent Sufferers The residents of Granbury are not alone. Similar complaints have been reported near Bitcoin mines in other states, and the issue of noise pollution from data centers is expected to grow as the industry expands. This story underscores the need for **greater regulation and accountability within the cryptocurrency and data center industries** to ensure that technological progress doesn't come at the expense of human health and the environment. ### The Future of Bitcoin Mining? The Bitcoin mining industry is grappling with this growing challenge. Companies are exploring **immersion cooling technologies** to reduce noise, but the effectiveness and long-term impacts remain uncertain. As the demand for Bitcoin and AI computing grows, the battle between progress and public health is likely to intensify. **This is not just a story about Bitcoin; it's a story about the future of our technological landscape and the need for responsible development.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>NoisePollution</category> <category>DataCenter</category> <category>PublicHealth</category> <category>Texas</category> <enclosure url="https://api.time.com/wp-content/uploads/2024/07/bitcoin-mining-granbury-texas1-1.jpeg?quality=85&w=1200&h=628&crop=1" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Bitcoin Rebounds After $171 Million Liquidation: A Turning Point?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-rebounds-after-171-million-liquidation-a-turning-point</link> <guid>bitcoin-rebounds-after-171-million-liquidation-a-turning-point</guid> <pubDate>Mon, 08 Jul 2024 06:00:24 GMT</pubDate> <description><![CDATA[## **Bitcoin Rebounds After $171 Million Liquidation** The Bitcoin price is known for its volatility, with its rapid rises and falls often leaving traders on edge. Recently, a massive short position liquidation worth $171 million took place, marking a potential turning point in the cryptocurrency market. ### **A Radical Change** This liquidation came after Bitcoin (BTC) reached a low point of $53,300, fueled by significant sales from Mt. Gox and the German government. Following this drop, the market saw a surprising rebound, with Bitcoin reaching $58,000 before settling back to $55,000. This rapid recovery caught short sellers off guard, resulting in the $171 million liquidation of their positions. High liquidation volumes often act as a market reset, calming investor anxieties and allowing for stabilization after periods of turbulence. This event, despite its volatility, could pave the way for more stable growth in the future. ### **Market Volatility: Risks and Rewards** The recent liquidations highlight the inherent risks and rewards associated with crypto trading. While the initial drop caused losses for long positions, Bitcoin's rebound inflicted significant losses on short sellers. This demonstrates the rapid shifts the market can experience. Investors are now taking a step back to assess the situation, hoping for a period of calm and stability. However, this volatility continues to attract both seasoned traders and newcomers to the world of cryptocurrencies. ### **Looking Ahead** Analysts remain divided about Bitcoin's short-term future. Some predict a period of consolidation where Bitcoin stabilizes around its current level before attempting to break through again. Others anticipate further fluctuations driven by economic uncertainties and technological developments in the crypto space. **The future of Bitcoin remains uncertain, but its volatility continues to attract both opportunity and risk for investors.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Liquidation</category> <category>Volatility</category> <enclosure url="https://www.cointribune.com/app/uploads/2024/07/Bitcoin-boom.png?nowebp" length="0" type="image/png"/> </item> <item> <title><![CDATA[Metaplanet: Japan's 'MicroStrategy' Doubles Down on Bitcoin with $2.5 Million Buy]]></title> <link>https://www.bitcointoday.app/article/metaplanet-japans-microstrategy-doubles-down-on-bitcoin-with-25-million-buy</link> <guid>metaplanet-japans-microstrategy-doubles-down-on-bitcoin-with-25-million-buy</guid> <pubDate>Mon, 08 Jul 2024 11:00:23 GMT</pubDate> <description><![CDATA[## Japan's 'MicroStrategy' Doubles Down on Bitcoin with $2.5 Million Buy Metaplanet, a publicly-listed investment and consulting firm in Japan, has continued its aggressive Bitcoin investment strategy, purchasing an additional **$2.5 million** worth of Bitcoin. This latest buy brings their total Bitcoin holdings to **203,734 BTC**, acquired at an average price of approximately **$62,000** per coin. **Metaplanet's journey into Bitcoin began in April 2024**, when they made a significant initial investment of **$6.5 million** in BTC. This move was driven by the firm's belief in Bitcoin's potential as a valuable asset, drawing inspiration from prominent figures like **Mark Yusko** (Morgan Creek Capital) and **Jack Liu** (Ordiswap). **Metaplanet's aggressive Bitcoin purchases have garnered comparisons to MicroStrategy**, another company known for its significant Bitcoin holdings. Both companies see Bitcoin as a hedge against inflation and a more attractive asset than traditional fiat currency. **Metaplanet's stock performance has been heavily influenced by the price of Bitcoin.** After a surge of **90%** following their initial Bitcoin investment, the stock has since experienced a decline due to a drop in Bitcoin's price. Despite this, Metaplanet's shares are still **344%** higher than at the beginning of 2024. **Metaplanet is also looking to further expand its Bitcoin holdings by issuing 1 billion yen ($6.26 million) worth of bonds**, echoing MicroStrategy's strategy of raising funds through convertible notes to acquire more Bitcoin. This continued commitment to Bitcoin suggests a strong belief in its long-term potential.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Metaplanet</category> <category>MicroStrategy</category> <category>Japan</category> <category>Crypto</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/f6993a5b-86b2-4357-9ed1-70753f37575d.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin (BTC) Could Soar 220% - Is This Rare Pattern the Key?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-btc-could-soar-220-is-this-rare-pattern-the-key</link> <guid>bitcoin-btc-could-soar-220-is-this-rare-pattern-the-key</guid> <pubDate>Mon, 08 Jul 2024 17:00:27 GMT</pubDate> <description><![CDATA[## Bitcoin (BTC) Could Soar 220% - Is This Rare Pattern the Key? Bitcoin is steadily gaining ground, hovering around the $56,000 mark. But the market needs a strong push. Enter the **"bullish megaphone" pattern** - a rare technical analysis indicator that suggests a significant surge in price is on the horizon. This pattern, also known as a **megaphone pattern**, features two diverging trend lines: one sloping downwards and the other upwards. As the price moves within these lines, volatility increases, creating a megaphone shape. This pattern usually emerges after a period of sideways or consolidation trading, indicating the asset is poised for a breakout. **Here's how it works:** * **Formation:** The pattern begins to take shape as prices fluctuate between higher highs and lower lows, resulting in expanding price swings. * **Volatility Increase:** As the pattern develops, volatility rises, making the market uncertain and creating confusion. * **Breakout:** The key characteristic of the bullish megaphone pattern is its breakout. This usually occurs through the upper trend line, signifying strong upward momentum fueled by increased buying interest and trading volume. * **Target Price:** Following the breakout, the target price is determined by measuring the pattern's height at its widest point. The potential upside is calculated by adding this measurement to the breakout point. This suggests a potential **220% surge** in Bitcoin's price. While this pattern offers exciting possibilities, it's crucial to remember that technical analysis is not foolproof. It's essential to conduct thorough research and consult with financial experts before making any investment decisions. **Disclaimer:** _The opinions expressed in this article are the author's own and do not reflect the views of U.Today. The financial and market information provided is for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies._]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>BTC</category> <category>Crypto</category> <category>TechnicalAnalysis</category> <category>BullishMegaphone</category> <enclosure url="https://u.today/sites/default/files/styles/twitter/public/2024-07/50121.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Dogecoin Creator's Hilarious Take on Crypto Market Crash: 'It's Fine, Totally Fine']]></title> <link>https://www.bitcointoday.app/article/dogecoin-creators-hilarious-take-on-crypto-market-crash-its-fine-totally-fine</link> <guid>dogecoin-creators-hilarious-take-on-crypto-market-crash-its-fine-totally-fine</guid> <pubDate>Mon, 08 Jul 2024 09:00:26 GMT</pubDate> <description><![CDATA[## Dogecoin Creator's Hilarious Take on Crypto Market Crash: 'It's Fine, Totally Fine' The cryptocurrency market is currently experiencing a significant downturn, with **Bitcoin** leading the charge downwards. **Dogecoin** co-creator Billy Markus, known for his witty and often cynical commentary on crypto, has taken to X (formerly Twitter) to share his perspective on the situation. **Bitcoin**, the world's largest cryptocurrency, has seen a **5.81% decline** over the past 24 hours, although it has since recovered slightly. The overall market sentiment is bearish, with **Bitcoin losing over 15% of its value** between July 1 and July 5. Markus, known for his humorous approach to crypto, posted a picture of a sinking yacht with the caption: "How’s your crypto going?" The yacht's name is "No Worries." This sarcastic response perfectly captures the current mood among many investors who are experiencing significant losses. **Dogecoin** has mirrored Bitcoin's price trajectory, experiencing a **28% drop** between July 1 and July 5, followed by a **20% recovery** and another **11.4% loss** in the past 24 hours. Markus is known for his criticisms of crypto trading, often comparing it to gambling and even a mental illness. He has also expressed skepticism about the long-term viability of **NFTs** and **Bitcoin**'s potential to provide financial freedom. While Markus's comments are lighthearted, they underscore the volatility and uncertainty that currently plague the cryptocurrency market. Despite the recent downturn, many investors remain hopeful that the market will eventually recover.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Dogecoin</category> <category>Crypto</category> <category>MarketCrash</category> <category>Volatility</category> <enclosure url="https://u.today/sites/default/files/styles/twitter/public/2024-07/50104.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Miner TeraWulf Open to Mergers, but Only if It Boosts Profits, Not for 'Empire Building']]></title> <link>https://www.bitcointoday.app/article/bitcoin-miner-terawulf-open-to-mergers-but-only-if-it-boosts-profits-not-for-empire-building</link> <guid>bitcoin-miner-terawulf-open-to-mergers-but-only-if-it-boosts-profits-not-for-empire-building</guid> <pubDate>Mon, 08 Jul 2024 05:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Miner TeraWulf Open to Mergers, But Only if It Boosts Profits, Not for 'Empire Building' Bitcoin mining firm TeraWulf is open to mergers if they can improve profit margins, but the company is not interested in simply expanding for the sake of expansion. This comes amid expectations of more mergers and acquisitions (M&A) in the mining sector following the latest Bitcoin halving. **TeraWulf's Chief Strategy Officer, Kerri Langlais, explained that the company would only consider inorganic growth opportunities through M&A if it leads to profitability.** "Expanding merely for growth’s sake, or ‘empire building,’ without considering profitability makes no sense," Langlais said. While other publicly-listed Bitcoin miners have set targets to reach hashrate milestones, TeraWulf is focusing on "organic growth" at its existing sites and shareholder returns. **Langlais stressed that the company's success hinges on "the discerning allocation of capital to generate sustained returns for our shareholders."** This distinction is crucial for investors, who should differentiate between companies that are growing profitably versus simply growing, according to Langlais. ### Mergers and Acquisitions in the Mining Sector Discussions about incoming Bitcoin miner M&A activity came up when Riot Platforms attempted a "hostile" takeover of Bitfarms with a $950 million buyout offer in June. The offer ultimately failed, but Riot did manage to snare a 14.9% stake in Bitfarms. Bitcoin miner CleanSpark also announced a $155 million merger with GRIID Infrastructure on June 27. Langlais expects to see more Bitcoin miner M&A offers, but also notes a large "disparity in valuations." This makes it difficult to determine which deals are worth pursuing. **Langlais believes that Bitcoin miners should be valued based on profitability and EBITDA — earnings before interest, taxes, depreciation, and amortization — similar to traditional commodities businesses.** "‘Cash is king,’ and metrics like EBITDA, profitability, and free cash flow yield should become the benchmarks for valuing mining businesses moving forward." ### Bitcoin Miners Facing Challenges in Expanding Bitcoin miners are facing challenges in expanding due to emerging competition for sites and power resources. **Hyperscalers are quickly securing every available power capacity nationwide, competing for the same locations traditionally sought after by BTC miners.** This intense competition is driving up land and power prices, diminishing the profitability of new BTC mining projects. **Profitability margins have been an industry focal point after the fourth halving event saw the block subsidy sliced by 50% to 3.125 BTC — worth $174,100 — on April 20.** TeraWulf, which mines most of its Bitcoin with nuclear energy, will remain profitable provided Bitcoin’s price stays above $40,000, according to Langlais. Bitcoin is currently trading at $55,700, down 4.4% over the last 24 hours and 19.6% over the last month.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Mining</category> <category>Mergers</category> <category>Acquisitions</category> <category>Profitability</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/7f5c8fbb-57e2-4cbb-a6d4-dfee9c4bc042.JPG" length="0" type="image/JPG"/> </item> <item> <title><![CDATA[Germany's Bitcoin Sell-Off Backfires: Exchanges Return $163 Million Worth of BTC]]></title> <link>https://www.bitcointoday.app/article/germanys-bitcoin-sell-off-backfires-exchanges-return-163-million-worth-of-btc</link> <guid>germanys-bitcoin-sell-off-backfires-exchanges-return-163-million-worth-of-btc</guid> <pubDate>Mon, 08 Jul 2024 22:00:24 GMT</pubDate> <description><![CDATA[## Germany's Bitcoin Sell-Off Backfires: Exchanges Return $163 Million Worth of BTC The German government's attempt to sell a portion of its Bitcoin holdings on Monday didn't go as planned. After transferring over 10,000 BTC to exchanges and market makers, nearly 3,000 BTC — worth about $163 million — were sent back to the government later in the day. **Why the reversal?** Exchanges likely failed to sell the crypto within a targeted price range. Bitcoin's price dipped to around $55,200 on Monday before rebounding. **The exchanges involved:** * Coinbase * Kraken * Bitstamp **The German government holds a significant amount of Bitcoin:** According to Arkham Intelligence, Germany's holdings are worth over $2 billion. This incident highlights the volatility and unpredictable nature of the cryptocurrency market. It also raises questions about the government's strategy for managing its Bitcoin assets. **Key Takeaways:** * The German government's attempt to sell Bitcoin was unsuccessful due to market volatility. * Exchanges were unable to sell the crypto within a targeted price range. * This incident underscores the challenges and uncertainties associated with government-held crypto assets.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Germany</category> <category>Cryptocurrency</category> <category>MarketVolatility</category> <category>GovernmentCryptoAssets</category> <enclosure url="https://www.tbstat.com/wp/uploads/2024/05/20240509_Bitcoin_News_6-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Peter Schiff's Surprising Bitcoin Admission: Whales Are Winning, But There's a Catch]]></title> <link>https://www.bitcointoday.app/article/peter-schiffs-surprising-bitcoin-admission-whales-are-winning-but-theres-a-catch</link> <guid>peter-schiffs-surprising-bitcoin-admission-whales-are-winning-but-theres-a-catch</guid> <pubDate>Mon, 08 Jul 2024 11:00:23 GMT</pubDate> <description><![CDATA[## Peter Schiff Admits Bitcoin Whales Are Winning, But There's a Catch Peter Schiff, a notorious Bitcoin skeptic, has made a surprising admission. He believes that experienced Bitcoin investors, known as whales, are strategically using Bitcoin ETFs to their advantage. Schiff suggests that whales are selling Bitcoin on the spot market while less experienced investors are buying it through ETFs, positioning themselves to potentially absorb significant losses. > "It looks like the smart money is selling #Bitcoin in the spot market while the dumb money is buying it through ETFs. Congratulations to the Bitcoin whales for pulling this off. They set up #BitcoinETF investors to be the bag holders." - Peter Schiff Despite this revelation, Schiff still maintains that many Bitcoin profits are driven by luck rather than skill. ### The Rise of Bitcoin ETFs The recent influx of funds into Bitcoin ETFs has been significant, with Fidelity's FBTC receiving a whopping $117.4 million on July 5th, solidifying its position as the third-largest Bitcoin ETF in the US. Bitwise's BITB also saw substantial inflows, surpassing $30 million, bringing its total assets to over $2.1 billion. While the surge in Bitcoin ETFs demonstrates investor interest, the market sentiment remains volatile, influenced by fear, uncertainty, and greed. ## Key Takeaways: * **Bitcoin whales are likely manipulating the market by selling on the spot market while promoting ETF investments.** * **Schiff acknowledges Bitcoin's profitability, but emphasizes the role of luck.** * **Bitcoin ETFs are seeing significant inflows, but market sentiment remains uncertain.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>PeterSchiff</category> <category>BitcoinETFs</category> <category>MarketManipulation</category> <category>Cryptocurrency</category> <enclosure url="https://u.today/sites/default/files/styles/twitter/public/2024-07/s3021.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Pepe (PEPE) Price Surges 4.63% in 24 Hours: A Bullish Sign?]]></title> <link>https://www.bitcointoday.app/article/pepe-pepe-price-surges-463-in-24-hours-a-bullish-sign</link> <guid>pepe-pepe-price-surges-463-in-24-hours-a-bullish-sign</guid> <pubDate>Mon, 08 Jul 2024 20:00:26 GMT</pubDate> <description><![CDATA[## Pepe (PEPE) Price Jumps 4.63% in 24 Hours Despite Recent Dip The price of Pepe (PEPE) has experienced a surprising surge, climbing **4.63%** in the last 24 hours to reach **$0.0000094**. This upward movement comes in contrast to the **21.0% loss** the coin has suffered over the past week, dropping from **$0.000012** to its current price. **Key Insights:** * **Volatility:** The chart highlights the recent price fluctuations, with the Bollinger Bands indicating the extent of volatility. Wider bands indicate higher volatility. * **Trading Volume:** Despite the price drop, the trading volume for PEPE has increased **177.0%** in the last week. This surge in activity could be a sign of renewed investor interest. * **Circulating Supply:** The circulating supply of PEPE has decreased by **0.44%** to **420.69 trillion**, representing **100.0%** of the max supply. * **Market Cap Ranking:** PEPE currently holds the **#26** spot in the market cap ranking, valued at **$3.97 billion**. **Potential Drivers for the Price Rise:** The sudden price increase could be attributed to various factors, including increased trading activity, positive market sentiment, or even short-term speculation. It's important to note that the crypto market is highly volatile, and price movements can be unpredictable. **Disclaimer:** This article is for informational purposes only and does not constitute financial advice. Always conduct thorough research before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Pepe</category> <category>PEPE</category> <category>Crypto</category> <category>MemeCoin</category> <category>Market</category> <enclosure url="https://cdn.benzinga.com/files/images/story/2023/crypto_movers_image_0.png?width=1200&height=800&fit=crop" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Whales Are Accumulating: A Bullish Sign for the Future?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-whales-are-accumulating-a-bullish-sign-for-the-future</link> <guid>bitcoin-whales-are-accumulating-a-bullish-sign-for-the-future</guid> <pubDate>Mon, 08 Jul 2024 23:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Whales Accumulate Despite Drop: Is This Bullish? While Bitcoin and other cryptocurrencies have been experiencing a recent downturn, some investors, particularly **whales**, are seeing an opportunity and accumulating these assets. This trend suggests a potential bullish outlook for Bitcoin, but what exactly is happening? ### Whales on the Prowl **On-chain data** from CryptoQuant indicates that **Bitcoin outflows** from exchange platforms have reached record levels in 2024. This means that large investors are moving their Bitcoin **off exchanges**, signaling a desire for long-term holding. Why is this significant? It suggests that whales are betting on a future **price increase**. While other investors panic and sell, whales are adopting a **long-term strategy** to avoid market turbulence. ### Derivatives Exchanges Also Show Outflows In addition to spot exchanges, **derivative exchanges** have also recorded massive Bitcoin outflows. This phenomenon indicates investors are reducing their **risk exposure**. These outflows don't necessarily mean an imminent sell-off. Rather, whales might be transferring assets to **private wallets** in anticipation of price stabilization or future price gains. **Key takeaway**: Massive derivative outflows suggest a reduction in risky positions, which could potentially ease market volatility in the short term. ### Intriguing Prospects for Bitcoin The renewed interest of whales in Bitcoin, despite its current decline, paints a **positive picture for the future**. If these large investors are betting on a rise, it will be interesting to see how the market unfolds. **Disclaimer:** This article is for informational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Whales</category> <category>Crypto</category> <category>MarketSentiment</category> <category>PricePrediction</category> <enclosure url="https://www.cointribune.com/app/uploads/2024/07/BALEINE-ACCUMULATION-BITCOIN.png?nowebp" length="0" type="image/png"/> </item> <item> <title><![CDATA[Bitcoin Dips Amidst Mt. Gox Payouts & German Government Transfers: What's Happening?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-dips-amidst-mt-gox-payouts-german-government-transfers-whats-happening</link> <guid>bitcoin-dips-amidst-mt-gox-payouts-german-government-transfers-whats-happening</guid> <pubDate>Mon, 08 Jul 2024 19:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin Takes a Dip: Mt. Gox Payouts & Government Transfers Weigh In Bitcoin's price has seen a decline in the past 24 hours, primarily attributed to sell pressure stemming from Mt. Gox payouts and transfers of Bitcoin by the German government to crypto exchanges. **QCP Capital analysts** have observed **violent price fluctuations** in Bitcoin, citing **thin liquidity** as a contributing factor. **Bitcoin's decline** comes despite gains in equity indices, fueled by optimism surrounding a potential **soft landing for the US economy.** ### Key Sell-Pressure Factors: * **Mt. Gox Payouts:** Crypto exchange Bitstamp is aiming to distribute Bitcoin repayments to Mt. Gox creditors swiftly, adding to the sell pressure. * **German Government Transfers:** The German government has transferred a significant amount of Bitcoin to several exchanges, including Kraken, Coinbase, Bitstamp, and Flow Traders. ### Equity Markets Buoyed by Soft Landing Hopes In contrast to Bitcoin's downward trend, **equity indices** have been on the rise, bolstered by expectations of a **soft landing** for the US economy. Analysts are increasingly confident in the prospect of a **rate cut in September**. **Ryze Labs** analysts remain **optimistic** about policymakers steering the US economy towards a **soft landing** by year-end. ### AI-Fueled Equity Bubble Concerns Despite the positive sentiment in equity markets, some observers are wary of a potential **bubble** fueled by **artificial intelligence (AI)** investments. **Sequoia**, a venture capital firm, has highlighted the crucial need for AI to demonstrate a clear **return on investment (ROI)**. **Sequoia** argues that the AI ecosystem must generate substantial revenue to justify the massive investments in **GPUs and data centers** needed for AI development. While tech giants associated with AI have seen significant market capitalization gains, revenue figures from AI ventures like **OpenAI** currently fall short of these targets.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Mt.Gox</category> <category>GermanGovernment</category> <category>AI</category> <enclosure url="https://www.tbstat.com/wp/uploads/2024/05/20240513_Bitcoin_News_9-1200x675.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Trump's GOP Platform Embraces Crypto: Is This a Bullish Sign for the Industry?]]></title> <link>https://www.bitcointoday.app/article/trumps-gop-platform-embraces-crypto-is-this-a-bullish-sign-for-the-industry</link> <guid>trumps-gop-platform-embraces-crypto-is-this-a-bullish-sign-for-the-industry</guid> <pubDate>Mon, 08 Jul 2024 21:00:25 GMT</pubDate> <description><![CDATA[## Trump's GOP Platform Embraces Crypto: Is This a Bullish Sign for the Industry? The Republican National Committee's (RNC) official platform for the 2024 election includes a surprising pro-crypto stance, signaling a shift in the party's approach to digital assets. This move comes as Former President Donald Trump, the presumptive Republican nominee, has embraced crypto and even launched his own NFTs. **Key Provisions of the Platform:** * **Ending the "Crypto Crackdown":** The platform condemns what it calls a "Democratic" crackdown on crypto, vowing to reverse it. This is a direct response to the increased regulatory scrutiny the industry has faced in recent years. * **Opposing a Central Bank Digital Currency (CBDC):** The RNC platform explicitly opposes the creation of a CBDC, echoing concerns raised by many Republicans about potential government overreach and surveillance. * **Supporting Bitcoin Mining and Self-Custody:** The platform emphasizes the right to mine Bitcoin and ensures that Americans retain control over their digital assets, free from government interference. **Trump's Crypto Flip-Flop:** This pro-crypto stance is a dramatic change from Trump's earlier skepticism towards cryptocurrency. His embrace of digital assets, including his own NFT ventures, has contributed to this shift. **The Impact on the 2024 Election:** The Republican Party's commitment to supporting crypto could have significant implications for the 2024 election. It remains to be seen how this platform will resonate with voters and how it will influence the overall political landscape. **Beyond the Election:** This development highlights the growing influence of crypto in American politics. Whether the RNC's platform translates into concrete policy changes remains to be seen, but it signals that the crypto debate is entering the mainstream political arena. ]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Crypto</category> <category>Politics</category> <category>Trump</category> <category>Bitcoin</category> <category>CBDC</category> <enclosure url="https://www.coindesk.com/resizer/WjnCX2knniwG017IcdcvaTMetB4=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/CRJOLN3QP5CHXF6JLHQ424MYIQ.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Bottoming Out? 5 Bullish Signals Suggest a Potential Rebound]]></title> <link>https://www.bitcointoday.app/article/bitcoin-bottoming-out-5-bullish-signals-suggest-a-potential-rebound</link> <guid>bitcoin-bottoming-out-5-bullish-signals-suggest-a-potential-rebound</guid> <pubDate>Mon, 08 Jul 2024 10:00:25 GMT</pubDate> <description><![CDATA[## Bitcoin's Potential Rebound: 5 Bullish Signals Bitcoin has recently faced significant volatility, dipping to a five-month low around $53,550. However, several indicators now suggest that the cryptocurrency may have bottomed out, with the potential for a rebound in its price trajectory. Here are five key bullish signals that point towards a possible resurgence in Bitcoin’s market performance: ### 1) Bullish Divergence Despite recent declines, Bitcoin has shown a bullish divergence with the Relative Strength Index (RSI) trending upwards. This divergence suggests that while prices have fallen, selling pressure may be weakening, hinting at a possible reversal or slowdown in the downtrend. **[Source: Cointelegraph](https://cointelegraph.com/news/bitcoin-shows-bullish-divergence-as-rsi-trends-upwards)** This could pave the way for a rebound as market sentiment shifts back towards bullishness. ### 2) Technical Indicators On July 5th, Bitcoin formed a bullish hammer candlestick pattern, a classic indicator of potential price reversal. Additionally, the daily RSI is hovering near oversold levels, typically preceding a period of consolidation or recovery. Analysts interpret these signals as potential signs that BTC could revisit previous highs above $70,000. **[Source: X](https://x.com/BitcoinAnalysis/status/1676538274107963392)** ### 3) Interest Rate Expectations Traders on Wall Street are increasingly anticipating a September rate cut by the Federal Reserve, with probabilities rising to 72% as of July 7. Lower interest rates typically favor riskier assets like Bitcoin, as they reduce the attractiveness of traditional safe-haven investments such as US Treasury bonds. **[Source: CME Group](https://www.cmegroup.com/markets/interest-rates/fed-funds-future.html)** ### 4) Bitcoin ETF Activity US-based Bitcoin ETFs have seen renewed investor interest following weak unemployment data on July 5. These funds collectively attracted $143.10 million worth of BTC inflows, indicating growing risk appetite among institutional investors. Notably, the Fidelity Wise Origin Bitcoin Fund led with $117 million in inflows. **[Source: Farside](https://farside.io/news/bitcoin-etf-activity-surges-on-weak-unemployment-data)** ### 5) US Money Supply Expansion The recent uptick in the US M2 money supply, which measures cash, checking deposits, and near-money, suggests increased liquidity in the economy. This liquidity often translates into higher investments in riskier assets like Bitcoin, as investors seek higher returns amidst lower yields from traditional savings and bonds. **[Source: X](https://x.com/USMoneySupply/status/1676628372996485120)** ### Conclusion These five bullish arguments collectively suggest that Bitcoin may have hit a bottom around the $53,000 mark and could potentially see a rebound in the near term. While market volatility remains a factor, particularly amid regulatory developments and global economic trends, the current indicators point towards a possible strengthening of Bitcoin’s position in the broader financial landscape. **Disclaimer:** The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>MarketSentiment</category> <category>Rebound</category> <category>TechnicalAnalysis</category> <enclosure url="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/bitcoin-altcoin-2024-07-08T110802.193.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Might Have Found a Bottom: Bitfinex Analysts Point to Recovering Market]]></title> <link>https://www.bitcointoday.app/article/bitcoin-might-have-found-a-bottom-bitfinex-analysts-point-to-recovering-market</link> <guid>bitcoin-might-have-found-a-bottom-bitfinex-analysts-point-to-recovering-market</guid> <pubDate>Mon, 08 Jul 2024 17:00:27 GMT</pubDate> <description><![CDATA[## Bitcoin's Price Dip Might Be Over, According to Bitfinex Analysts After a significant price drop in June, Bitcoin (BTC) might have reached a local bottom, say analysts at Bitfinex. This optimism stems from several factors, including the **relatively small proportion of Bitcoin seized and sold by governments**, like the U.S. and Germany, compared to the overall Bitcoin market activity. Bitfinex highlights that despite the sizeable nominal value of BTC transferred to exchanges by government agencies, it only represents **4% of the total Bitcoin bought and sold since 2023**. This suggests that the market impact of government-seized Bitcoin is **minimal**. ### Other Indicators Point to a Potential Bottom Further supporting the potential bottom is the **drop in the Spent Output Profit Ratio (SOPR)**. This metric, which measures realized profit or loss for investors, reached 0.97 for short-term holders on July 6, indicating that they are **not selling at a loss**. Another crucial factor is the **negative funding rate** across all BTC perpetual trading pairs. This historically marks the bottom of price corrections, signifying **oversold conditions** and potential recovery. The combination of low SOPR and negative funding rates suggests that **selling pressure is high, but the market might be finding a floor**. These factors, combined with the relatively small impact of government Bitcoin sales, provide **hope for a potential rebound** in Bitcoin’s price.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Bitfinex</category> <category>MarketAnalysis</category> <category>TechnicalAnalysis</category> <category>Crypto</category> <enclosure url="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1200/https://s3.cointelegraph.com/uploads/2024-07/ab14d039-26ed-4c13-aa37-a345a9f3c4c1.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Bitcoin Plunges 6% Amidst Mt. Gox and German Government Sells: Is Crypto Crash Back?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-plunges-6-amidst-mt-gox-and-german-government-sells-is-crypto-crash-back</link> <guid>bitcoin-plunges-6-amidst-mt-gox-and-german-government-sells-is-crypto-crash-back</guid> <pubDate>Mon, 08 Jul 2024 12:00:23 GMT</pubDate> <description><![CDATA[## Bitcoin Takes a Dive: Mt. Gox and Germany Fuel Crypto Fears Bitcoin prices plummeted to a four-month low on Monday, continuing a weeks-long downturn in the cryptocurrency market. This decline has been fueled by uncertainty surrounding looming selloffs from the German government and creditors of the bankrupt crypto exchange Mt. Gox. **Mt. Gox, once a major player in the crypto space, filed for bankruptcy a decade ago after suffering a massive hack. Now, with creditors receiving billions of dollars in Bitcoin, fears of a large-scale selloff are growing. This, coupled with the German government's ongoing liquidation of seized crypto assets, has further exacerbated market concerns.** **Beyond these specific events, other factors contributing to the crypto market's slump include diminishing interest in cryptocurrency ETFs, uncertainty surrounding monetary policy, and broader market volatility.** The impact of Bitcoin's downturn is felt across the entire crypto ecosystem, with other major cryptocurrencies like Ether, Binance's BNB, Solana, and XRP Ripple also experiencing significant losses. **The future of the crypto market remains uncertain, but the recent events highlight the volatility and risk associated with investing in digital assets. As investors navigate this tumultuous landscape, it's crucial to stay informed about the factors driving market movements and to manage risk effectively.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Cryptocurrency</category> <category>MtGox</category> <category>Market</category> <category>Germany</category> <enclosure url="https://imageio.forbes.com/specials-images/imageserve/62ff5bb20c702b4e975f25ea/0x0.jpg?format=jpg&crop=2154,1211,x0,y112,safe&height=900&width=1600&fit=bounds" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[German Government's Bitcoin Sell-Off Shakes Crypto Market: Is This a Cause for Concern?]]></title> <link>https://www.bitcointoday.app/article/german-governments-bitcoin-sell-off-shakes-crypto-market-is-this-a-cause-for-concern</link> <guid>german-governments-bitcoin-sell-off-shakes-crypto-market-is-this-a-cause-for-concern</guid> <pubDate>Mon, 08 Jul 2024 17:00:27 GMT</pubDate> <description><![CDATA[## German Government's Bitcoin Dump: A Cause for Crypto Market Volatility? For weeks, the German government has been selling hundreds of millions of dollars worth of bitcoin, causing a significant drop in the cryptocurrency's price. This sell-off, stemming from the seizure of bitcoins from a movie piracy site, has been a key factor in the recent market downturn. The German government has been selling bitcoin from a wallet operated by the country's Federal Criminal Police Office (BKA). In June, they sold 900 bitcoins, worth approximately $52 million. This was followed by a further 3,000 bitcoins, worth around $172 million, sold last week. On Monday, they sold another 2,739 bitcoins, worth roughly $155 million. The BKA has been sending these bitcoins to exchanges like Coinbase, Bitstamp, and Kraken. **Market Impact** This sell-off has coincided with a significant drop in bitcoin's price. Bitcoin sank below $55,000 on Friday, reaching its lowest level since February 2024. The entire crypto market shed over $170 billion in combined market capitalization in a 24-hour period. **Beyond the German Sell-Off** While the German government's sales are a significant factor, it's not the only pressure on bitcoin. The payout of billions of dollars' worth of digital currency from the collapsed bitcoin exchange Mt. Gox to creditors has also contributed to the market downturn. **Sentiment and the Future** Although the German sell-off is considered relatively minor in the context of bitcoin's overall market cap, it has affected market sentiment. Investors are worried about the impact of these sales on the cryptocurrency's future. **Germany's Bitcoin Holdings** The seized bitcoins were originally obtained in 2013 from the operators of Movie2k.to, a movie piracy site. The BKA currently holds approximately 32,488 bitcoins, worth roughly $1.9 billion at current prices. **Controversial Sell-Off** Not everyone agrees with Germany's decision to sell its bitcoin holdings. Joana Cotar, a member of the German Bundestag, has expressed her disapproval, arguing that the government should hold bitcoin as a strategic reserve currency. She has invited German officials to a lecture with prominent bitcoin influencer Samson Mow to discuss the issue. **Key Takeaways:** * The German government's sell-off of seized bitcoins has contributed to recent market volatility. * While the volume of sales is relatively small compared to the overall market cap, it has impacted market sentiment. * The sell-off highlights the potential for governments to significantly influence the crypto market. * The controversy over the sell-off raises questions about the role of governments in the future of cryptocurrencies.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Germany</category> <category>Government</category> <enclosure url="https://image.cnbcfm.com/api/v1/image/108001945-1720175480773-gettyimages-2158847058-Illustration_Bitcoin.jpeg?v=1720448108&w=1920&h=1080" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Crypto ETFs & ETPs Booming: $44.5 Billion Inflows in Just 5 Months!]]></title> <link>https://www.bitcointoday.app/article/crypto-etfs-etps-booming-445-billion-inflows-in-just-5-months</link> <guid>crypto-etfs-etps-booming-445-billion-inflows-in-just-5-months</guid> <pubDate>Mon, 08 Jul 2024 18:00:27 GMT</pubDate> <description><![CDATA[## Crypto ETFs & ETPs: A Booming Market The global cryptocurrency ETF and ETP market is experiencing significant growth, with **$44.5 billion in inflows** recorded in the first five months of 2024 alone. This is a stark contrast to the **$135.57 million in outflows** seen in the same period last year. **Key Highlights:** * **May 2024 saw $2.23 billion in net inflows** into cryptocurrency ETFs and ETPs, demonstrating strong investor confidence. * The **iShares Bitcoin Trust (IBIT US)** was the top performer, accumulating **$1.17 billion in inflows**. * This growth is driven by the increasing popularity of passive investment vehicles and the overall bullish sentiment in the crypto market. **ETFGI, a leading analysis and consulting firm, notes that the global cryptocurrency ETF and ETP industry currently has:** * 208 products * 551 listings * Assets of $82.27 billion * 47 providers * 20 exchanges in 16 countries **This indicates a well-established and growing ecosystem for crypto ETFs and ETPs.**]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>ETFs</category> <category>ETPs</category> <category>Bitcoin</category> <category>Investment</category> <enclosure url="https://www.fundssociety.com/wp-content/uploads/2024/07/criopt.png" length="0" type="image/png"/> </item> <item> <title><![CDATA[Germany Liquidates $2.2 Billion in Bitcoin: Is This a Strategic Blunder?]]></title> <link>https://www.bitcointoday.app/article/germany-liquidates-22-billion-in-bitcoin-is-this-a-strategic-blunder</link> <guid>germany-liquidates-22-billion-in-bitcoin-is-this-a-strategic-blunder</guid> <pubDate>Mon, 08 Jul 2024 07:00:25 GMT</pubDate> <description><![CDATA[## Germany's Bitcoin Liquidation Shakes Up the Market Germany, once a major holder of Bitcoin, has been steadily selling off its digital assets, sparking concerns about the potential impact on the cryptocurrency market. According to Arkham Intelligence, Germany still holds **29,286 BTC** worth **$2.2 billion**, but the potential selling pressure from this stash represents **nearly 9%** of Bitcoin's 24-hour trading volume. This raises concerns about further price volatility. The sales started in mid-June, following the seizure of **49,857 BTC** from the operators of Movie2k.to, a privacy website. This significant liquidation has already put downward pressure on Bitcoin's price, which has declined by nearly **20%** in the past four weeks. The CoinDesk 20 Index (CD20) has also dropped by nearly **14%** in the past week. ## Is This a Strategic Blunder? Some observers argue that Germany's Bitcoin sales are a strategic blunder. They argue that selling off Bitcoin for fiat currency, which can be printed at will, is a strategic misstep, especially considering the limited supply and energy-intensive mining process of Bitcoin. This viewpoint highlights the potential geopolitical implications of Bitcoin holdings. ## Key Takeaways * **Germany has been selling off its Bitcoin holdings since mid-June, putting downward pressure on the market.** * **The potential selling pressure from Germany's remaining Bitcoin stash represents a significant portion of Bitcoin's daily trading volume.** * **Some experts view Germany's sales as a strategic blunder, potentially putting the country at a geopolitical disadvantage.** This development has stirred debate within the cryptocurrency community, raising questions about the future of Bitcoin and the role of nation-states in the digital asset space.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Germany</category> <category>Geopolitics</category> <enclosure url="https://www.coindesk.com/resizer/y_Om5EEhDBhRqQFmKHI1DqxVY9s=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/TUYCJ3CEPJGIJNZROV22QP4URQ.jpg" length="0" type="image/jpg"/> </item> <item> <title><![CDATA[Crypto & DeFi Suffer $1.2 Billion in Losses From Hacks, Scams & Exploits in First Half of 2024]]></title> <link>https://www.bitcointoday.app/article/crypto-defi-suffer-12-billion-in-losses-from-hacks-scams-exploits-in-first-half-of-2024</link> <guid>crypto-defi-suffer-12-billion-in-losses-from-hacks-scams-exploits-in-first-half-of-2024</guid> <pubDate>Mon, 08 Jul 2024 00:00:27 GMT</pubDate> <description><![CDATA[## Crypto & DeFi Suffer $1.2 Billion in Losses in First Half of 2024 The cryptocurrency and decentralized finance (DeFi) sectors have experienced significant losses in the first half of 2024, totaling **USD 1.19 billion**. This figure includes losses from hacks, scams, and exploits. According to a report from blockchain security firm CertiK, **phishing attacks** were the most damaging vector, accounting for **$497.7 million** in losses across **150 incidents**. **The second quarter of 2024 saw the highest losses since the third quarter of 2023**, despite a relatively quiet period where the markets consolidated gains from the first quarter. This information highlights the continued vulnerability of the cryptocurrency ecosystem to malicious activity. Users should remain vigilant and take steps to protect themselves from scams and attacks.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Cryptocurrency</category> <category>DeFi</category> <category>Hacks</category> <category>Scams</category> <category>Phishing</category> <enclosure url="https://images.forexlive.com/images/sbf%20hamburglar_id_b5065e1f-8a87-4dd8-b703-0895cdce8dac_size975.jpeg" length="0" type="image/jpeg"/> </item> <item> <title><![CDATA[Bitcoin Plunges 5% as Asia Trading Week Begins: What's Driving the Crypto Market Down?]]></title> <link>https://www.bitcointoday.app/article/bitcoin-plunges-5-as-asia-trading-week-begins-whats-driving-the-crypto-market-down</link> <guid>bitcoin-plunges-5-as-asia-trading-week-begins-whats-driving-the-crypto-market-down</guid> <pubDate>Mon, 08 Jul 2024 06:00:24 GMT</pubDate> <description><![CDATA[## Bitcoin and Crypto Markets Dive as Asia Trading Week Begins The cryptocurrency market opened the Asia trading week with a significant downturn, with the CoinDesk 20 (CD20) index falling by 7% and Bitcoin (BTC) dropping by 5%. This downward trend is fueled by uncertainties surrounding interest rates and a wave of liquidations. **Key Factors Driving the Market Down:** * **Increased Expectations for Fed Rate Cut:** The market is anticipating a potential Federal Reserve interest rate cut in September. This uncertainty is weighing heavily on sentiment. * **Liquidations:** CoinGlass data reveals that over $175 million in long liquidations occurred in the past 24 hours. This indicates that investors are exiting their positions, further contributing to the downward pressure. * **Weak Job Data:** Despite stronger-than-expected U.S. jobs data, the rising unemployment rate suggests a weakening economy, which supports the likelihood of a Fed rate cut. * **Geopolitical Concerns:** The European Union's decision to impose tariffs on Chinese electric vehicles has dampened sentiment in Asian markets. Additionally, the French election results, with no clear majority, raise concerns about potential political instability in Europe. **The Impact on Crypto:** This market slump mirrors the aftermath of the FTX collapse, with Bitcoin losing 13% in the past week. Other major cryptocurrencies, including Ethereum (ETH), Solana (SOL), and XRP, are also experiencing significant losses. **Looking Ahead:** While the market is currently facing headwinds, investors are closely watching for further developments regarding Fed rate decisions and global economic conditions. These factors will likely determine the future direction of the crypto market.]]></description> <author>contact@bitcointoday.app (BitcoinToday.app)</author> <category>Bitcoin</category> <category>Crypto</category> <category>Market</category> <category>Fed</category> <category>Liquidation</category> <enclosure url="https://www.coindesk.com/resizer/9jU72fDZVnH1tlaldgt-yZoUovk=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/5OV2AD7PKVE47PZB5XR3A3HENQ.png" length="0" type="image/png"/> </item> </channel> </rss>