💰 Wall Street blends digital gold Bitcoin with physical gold in new ETF filings

Traditional financial institutions are finding new ways to offer investors access to digital assets via exchange-traded funds (ETFs). On June 27, Henry Jim, an ETF Analyst with Bloomberg Intelligence, reported on three ETF products that would provide investors access to Bitcoin, Gold, Ethereum, and MicroStrategy. Tidal Investments and Quantify Chaos Advisors have jointly filed a prospectus for a new ETF offering indirect exposure to Bitcoin and Gold.

Source

https://t.me/Bitcoin_Magazine

💰 Bitdeer’s stock climbs after revealing 570 MW expansion in Ohio

Bitcoin miner Bitdeer has announced a 570 MW strategic partnership with the Monroe County Port Authority in Ohio to boost its power capacity, according to a June 28 statement shared with CryptoSlate. Under this arrangement, Bitdeer will lease the land in the county’s Hannibal Industrial Park in Clarington for 30 years. The site is a former aluminum processing facility with power infrastructure to support large loads.

Source

https://t.me/Bitcoin_Magazine

💰 Central Bank of Bolivia Unbans Bitcoin From the Nation's Financial Ecosystem

The Central Bank of Bolivia has lifted a blanket ban on using bitcoin and other cryptocurrencies in the national financial system, opening the doors for integrating exchanges and other crypto service providers into its economy. The institution derogated a 2020 resolution prohibiting financial institutions from facilitating crypto-related payments.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin sees all-time-low weekend trading levels following ETF approvals: Kaiko

Bitcoin's reputation, at least in the mainstream, is nearly synonymous with volatility. However, the cryptocurrency's once-wild weekends may be a thing of the past, as in 2024, trading volume on weekends has sunk to its lowest level in bitcoin's history. While in 2019 up to 28% of bitcoin trading volume took place on the weekends, this past year that number has been only 16%, according to a new report from cryptocurrency research firm Kaiko.

Source

https://t.me/Bitcoin_Magazine

💰 CoinShares notes potential sentiment turn for bitcoin despite ETFs’ weekly outflow streak

U.S. spot Bitcoin exchange-traded funds witnessed a combined $37.3 million in net outflows last week for the third consecutive week. Grayscale’s converted GBTC ETF led the outflows with $155 million exiting the higher-fee fund, followed by Franklin Templeton’s EZBC and VanEck’s HODL, which registered $17.3 million and $3.3 million in net weekly outflows, respectively.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin's Potential Rebound May Face Resistance at $65K, OnChain Analysis Shows

As bitcoin (BTC) looks to recover from the July loss, new challenges loom, with onchain data suggesting a potential resistance at $65,000. The leading cryptocurrency by market value traded nearly 1% higher at $63,200 as of writing, looking to regain some poise after ending June with a 7% loss. June's drop, which reversed May's upswing, mainly occurred due to miner selling and concerns that ETF inflows represent non-directional arbitrage bets instead of outright bullish bets.

Source

https://t.me/Bitcoin_Magazine

🇩🇪 German government sends another $17.6 million in 💰 bitcoin to Coinbase, Bitstamp and Kraken: Arkham

Bitcoin addresses labeled as belonging to German authorities appeared to send another 282.74 ($17.6 million) to Coinbase, Bitstamp and Kraken on Tuesday morning — indicating a potential intention to sell the assets — according to on-chain analytics provider Arkham. The German government-labeled addresses began sending bitcoin to crypto exchanges last month following the seizure of 50,000 BTC from the film-piracy site Movie2k in January.

Source

https://t.me/Bitcoin_Magazine

💰 CleanSpark mined 445 bitcoin last month, exceeds mid-year hashrate target of 20 EH/s

CleanSpark mined 445 bitcoin last month, up from May’s 417 mined. The bitcoin miner said it exceeded its mid-year target of 20 EH/s in operational hashrate due to its acquisition of five new bitcoin mining sites in Georgia. The company sold 8.06 bitcoin in June at an average price of approximately $67,514 per bitcoin, according to a press release. The average hashrate throughout the month was 17.85 EH/s.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin correlation to S&P 500 goes negative indicating potential bottom

Bitcoin (BTC) has often mirrored the S&P 500 (SPX), with periods of positive correlation in the past five years, notably during the COVID-19 pandemic in 2020 and 2021, where both assets traded nearly 1:1. This trend continued towards the end of 2021 and throughout 2022, as both BTC and the SPX declined in tandem. In the first quarter of 2024, both Bitcoin BTC and SPX experienced significant gains.

Source

https://t.me/Bitcoin_Magazine

💰 Europe’s largest Bitcoin miner Northern Data to launch IPO in the US

Europe’s largest Bitcoin miner, Northern Data AG, has announced plans for a substantial initial public offering (IPO) in the US at a valuation between $10 billion and $16 billion. The IPO, which will be held on the Nasdaq stock exchange, is scheduled for the first half of 2025 and may also include selling a minority stake to investors prior to the public listing.

Source

https://t.me/Bitcoin_Magazine

💰 Justin Sun eyes $2.3 billion German Bitcoin stash despite community skepticism

Justin Sun claims to be interested in buying the German government’s extensive Bitcoin stash, estimated to be valued at $2.3 billion. Last month, the government began divesting some of these assets via centralized exchanges like Coinbase, Bitstamp, and Kraken. As of press time, it had sold the Bitcoin to a balance of 40,359 BTC, worth $2.3 billion, according to the Arkham Intelligence dashboard.

Source

https://t.me/Bitcoin_Magazine

💰 Mt. Gox moves $2.7B in Bitcoin to new wallet address

The collapsed Japanese crypto exchange Mt. Gox has transferred 47,229 Bitcoin (BTC) — worth $2.71 billion at current prices — to a new wallet address in its first major transaction since May. According to blockchain analytics platform Arkham Intelligence, the exchange transferred the Bitcoin at 12:30 am UTC on July 5 out from “cold storage."

Source

https://t.me/Bitcoin_Magazine

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💰 Bitcoin suffers fifth largest realized loss since FTX collapse amid Mt. Gox panic

Bitcoin’s recent price dip to around $54,000 has triggered one of the largest realized losses since the FTX collapse, specifically the fifth biggest realized loss since. This significant sell-off is primarily attributed to panic selling spurred by news related to Mt. Gox. On July 5, within a one-hour resolution, Bitcoin’s aggregated realized loss soared to $814 million. $587 million of these losses were incurred by short-term holders who had held Bitcoin for one to three months.

Source

https://t.me/Bitcoin_Magazine

💰 $537 million Binance deposits tied to BTC price drop suggest whales selling: LookOnChain

Two wallets have deposited 9,500 to Binance since June 27, potentially indicating whales liquidating nearly $550 million in cryptocurrency. The wallets, first spotted by blockchain analytics firm Lookonchain, could represent whales cashing in on their bitcoin holdings, which are currently valued at $537 million. When the transfers began last week, the stash was worth closer to $575 million.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin ETFs score highest net inflows in 30 days amid volatility from Mt. Gox unlocks

Despite the price of bitcoin falling as low as $54,000 in recent days, down about 25% from its peak above $73,000 in March, spot bitcoin ETFs had their strongest day of inflows for a month on July 5, gaining $143 million in total. Four out of the 11 top spot bitcoin ETFs saw inflows which added up to over 3,000, worth about $172 million at current prices, with about 80% of that sum going to Fidelity's FBTC fund. The ETF offerings from Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL) drew the remainder of the inflows, while Grayscale's GBTC saw 500 BTC of outflow, worth about $29 million, according to Coinglass data.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin Network Sees Second Largest Difficulty Reduction of 2024

Bitcoin’s mining difficulty dropped by 5% this week at block height 850,752 on July 4. This reduction, the second-largest this year, follows a 5.62% drop that occurred on May 9 at block height 842,688. Both significant decreases came after the fourth halving event at block height 840,000. Despite hashprice levels hitting unprecedented lows, the hashrate remains at 582.33 exahash per second (EH/s).

Source

https://t.me/Bitcoin_Magazine

💰 Bitfinex whales boost long positions by 10,000 BTC during Bitcoin correction

Bitcoin is still going through its consolidation phase of the cycle, stabilizing around the $57,000 mark. Notably, Bitfinex whales have significantly increased their long-margin positions, now holding 58,595 BTC. This marks an increase of 10,000 BTC since the low of 48,455 BTC on June 13, when Bitcoin’s price was $66,000. This level of long-margin holdings was last seen on March 1, when Bitcoin was climbing to its all-time high, and whales were strategically offloading BTC at the peak.

Source

https://t.me/Bitcoin_Magazine

💰 Bitcoin ETFs see largest inflow since June 5 at $294 million

According to Farside data, Bitcoin ETFs experienced a significant surge in inflows on July 8, marking the largest influx since June 5. The total net inflow was $294.8 million. Leading the charge was BlackRock’s IBIT, which recorded an impressive $187.2 million inflow, the largest since June 6. This substantial addition brings BlackRock’s total net inflow to a remarkable $17.9 billion. Fidelity’s FBTC also saw a significant boost, with $61.5 million added, increasing its total net inflow to $9.4 billion.

Source

https://t.me/Bitcoin_Magazine