📈Bitcoin needs to hit $65,000 to resume its upward rally

📊Analysts believe that the $63,000 price of bitcoin is a threshold below which speculators are unwilling to sell. The bitcoin price has fallen🔽below the cost basis of short-term holders for the first time since August 2023.

In a similar situation in the 🌤summer of 2023, the bitcoin price remained stable for two months before resuming its ↗️upward trajectory. Analysts believe that volatility is needed for the BTC price to rise to $65,000.

Stabilization of bitcoin at $65,000 could lead to further growth, but experts do not specify by how much. Currently, bitcoin has not shown sharp fluctuations for several weeks due to the lack of strong growth factors. Analysts expect July to be more favorable for 🟠BTC compared to June, when the price fell by almost 7%.

🔙Experts are hoping for bitcoin to rise in July 2024.🔜

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📱Bitcoin is more reliable than gold

Former BitMEX CEO Arthur Hayes believes the world is on the brink of a new "mega-local inflationary cycle." In this context, investors should move away from 📈stocks and bonds in favor of 🥇gold and bitcoin, which outperforms the precious metal due to the absence of national control.

Hayes analyzed three major cycles from the 1930s to the present day, identifying two types of periods: local (inflationary) and global (deflationary). During a local period, like now, one should invest in gold and bitcoin.

He is confident that the current cycle began in 2008 and is leading to financial repression. Bitcoin offers an alternative to gold thanks to its cryptographic blockchain and high transaction 💨speed.

Hayes forecasts that the U.S.🇺🇸 budget deficit will reach $1.92 trillion in 2024 and urges people not to worry about a recession. According to him, investing in cryptocurrencies is the best way to preserve wealth.

Hayes has predicted that bitcoin will rise to $70,000 by the end of the summer and highlighted the potential of Solana (SOL) and Aptos (APT).

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💡What's Next?

Today, let's talk🗯 about what's happening in the market in a light format right now it's going through some serious turmoil with massive liquidations of long bitcoin (BTC) positions. According to SignalQuant, the recent price drop has been catastrophic for long holders, surpassing all previous year-to-date figures📉.

👥Experts note that the current liquidations are even more massive than in a similar downturn in 2023. This raises additional concerns and emphasizes the volatility of the market. Premature conclusions about the recovery should not be made, as the market needs time to stabilize.

💥Large liquidations can increase volatility and make price forecasting difficult. This emphasizes the importance of a conservative approach to trading and strict risk management.

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😱Have you waited?

On July 8, the Hamster Kombat token (HMSTR) will be released on the Aevo pre-launch marketplace with a maximum of 10 billion.🔥

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Current situation in the cryptocurrency market📊

The scenario is now evolving on a 📉negative path as expected in the past posts. The government of
🇩🇪Germany continues to sell BTC and MT Gox assets are also getting connected, which is putting pressure on the market.

⚙️The technical picture looks unfavorable: we broke the monthly trend and ↘️dropped below the 200-day average. If the price does not return behind the trend and above the 200MA and into the trading channel by the end of the week, the risk of further decline will increase. Target levels could be 50-46.

😅On the positive side, market sentiment is in the "fear" zone and inflows into spot ETFs have started to recover and look encouraging.

P.S. This is the opinion of our expert and is NOT FINANCIAL ADVICE. All decisions to buy or sell assets are made by you.

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📈Crypto liquidation is expected to wrap up in August by the end of July

Cryptocurrency liquidation should 📉decrease this month and the market is expected to recover from August, according to a research report from JPMorgan.

🏦The bank lowered its estimate of Crypto net Flow since the beginning of the year to $8 billion from $12 billion previously.

The Wall Street firm said it was skeptical that the previous $12 billion estimate would hold through the end of the year, given how high 📱Bitcoin (BTC) is relative to the cost of its production or to the price of gold.

This decrease in reserves is likely a reflection of ❌liquidation of Bitcoin by creditors of Gemini or the defunct Mt.Gox Crypto exchange, as well as the government's sale of 🇩🇪Germany , which was selling Crypto confiscated as a result of criminal activity🥷.

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About TRON: Explosive growth and prospects📈

As of 🗓 July 12, daily transactions on the TRON network rose to $7 million. TRX rose 14%, breaking 🔑 key resistance level of $0.13.

If the price stays above $0.12, it is expected to rise to $0.14 in the medium term. TRX is holding above the 50-day and 200-day moving averages.

🏯 TRON's user base has over 2 million active addresses, surpassing competitors such as Ethereum.

👤 Justin Sun, founder of TRON, himself Says

our network will surpass one billion addresses
and will continue to see significant growth.

You can buy TRX here 👇

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📱 Bitcoin fell below $63k
as Mt. Gox transfers $2.8 bln BTC to internal wallets

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💥Large investors are actively buying up Etherium ahead of the spot ETF listing. How will this affect the value of the cryptocurrency 📱 ETH?

📊This dynamic will positively impact the value of ETH after the launch of exchange-traded funds. At the same time, institutional investors are able to make a significant contribution to the 📈growth of the asset price due to the large amount of capital at their disposal.

✅Therefore, such intereчst in crypto carries more weight than the sentiment among retail players.

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🕖Short-term bitcoin holders have come out in the plus side: 84,000 not far off?

📱 Bitcoin has risen above the purchase price by short-term holders (STH), indicating the potential for significant upside. Glassnode's July 16 report set the STH strike price at $64,300.

🟡The activity of short-term holders is important during bull markets, as their average buy price often forms long-term support. CryptoQuant analyst J.A. Martunn noted that bitcoin has returned to this price twice in 2023, and each time it has led to a 30% increase.

✨$65,000 remains a key target for bulls. Trader Axel Kibar sees a strong bullish signal in bitcoin's persistent attempts to overcome this resistance. Michael van de Poppe noted that bitcoin's NVT indicator is at its lowest level in 2.5 years, which is also a positive sign.

⚙️ Summary: Short-term bitcoin holders are forming strong support, which could lead to significant price gains if the key level of the 📈$65,000 is overcome.

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🇺🇸A New York court has sentenced Bitzlato co-founder Anatoly Legkodymov to 18 months in prison 😡

🔎Bitzlato co-founder Anatoly Legkodymov has been sentenced by a New York court to 18 months in prison for operating an unlicensed money transmission business and laundering $700 million through the darknet platform Hydra. 🏛 Judge Eric Vitaliano noted that Legkodymov has already served this time in the Metropolitan Detention Center (MDC), where the conditions were deemed harsh. Legkodymov relinquished claims to $23 million in crypto assets, which were confiscated by 🇫🇷 French authorities.

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📺The bitcoin price has overcome the $67k level⚡

At the moment there is consolidation of profits.

The price is trading 📊

Above $66,500 and the 100-hour moving average.
Above the 23.6% Fibonacci retracement level ($65,857 - $68,531).

Above the uptrend line with support at $66,500 (coincides with the 61.8% Fibonacci retracement).

📈 A break of $68,800 could open the way for further upside.

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📱 Bitcoin has surpassed the 67,000 USDT mark and is now trading at 📈 67,103.46875 USDT, with a slight increase of 0.48% in 24 hours.⚡️

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📺 Bitcoin on the verge of “explosive growth”: signal from Hash Ribbons✅

The Hash Ribbons indicator 🔔signaled for the first time in 2024. Buy signal 📱 bitcoin, foreshadowing a significant rise in price. This technical indicator tracks two hash rate moving averages. When the 30-day moving average rises above the 60-day moving average, this generates a reliable buy signal, often heralding a 📈 rise in the price of BTC.

On 🗓July 23, the indicator came out of “capitulation” for the first time in two months. Popular trader Mikybull Crypto noted, “BTC received a rare ‘Buy’ signal from Hash Ribbons. This is followed by explosive growth"📈.

💢Buy bitcoin and other cryptocurrencies via @MaxSwap_bot

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💢 Don't know the difference between hot and cold wallet? 🤔

MaxSwap talks about it in his new article!

📚 Crypto wallets: explaining hot and cold storage - moving into the digital frontier. You'll find the most interesting stuff for beginners here!

🔗 Follow the link to learn more!

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🇷🇺Russia and 🇨🇳China switch to digital payments as sanctions hamper bilateral trade settlements

✨The use of digital assets in cross-border settlements between Russia and China is simplifying bilateral payments, especially in the face of sanctions. Founded in 2013, Qifa, a platform focused on importing Chinese goods into Russia, has begun using cryptocurrencies to 💨speeding up payments, which can now take place in a single day.

🔴 Difficulties with payments through traditional banks have led to a shift to digital assets such as Tether (USDT). Russia already allows payments using some digital assets, andthe Russian parliament is considering a bill to legalize cryptocurrencies for foreign trade.

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📺 Market News ⚡

🟡Global market capitalization of cryptocurrencies now stands at $2.32 trillion, down -3.92% 📉 from the last day.

✨In the last 24 hours, the Bitcoin BTC price has traded between $63,457 and $67,480. As of today, BTC is trading at $67,304, up 4.41%.

🎙Most major cryptocurrencies are trading mixed in terms of market capitalization. The market leaders are CVP, IRIS and HARD, up 114%, 41%, and 23% respectively.

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How many Bitcoins does 🇺🇸 US have, and why should that affect 📊 market dynamics?

🔴The U.S. government currently owns 183,439 BTC worth approximately $12.35 billion. This significant holding emphasizes the government's significant presence in the cryptocurrency market.

💎The valuation of these assets reflects the current market price of bitcoin, indicating the significant financial stake held by the U.S. government.

📺 This information reveals the scale of cryptocurrency assets managed by government agencies, which could affect market dynamics and regulatory approaches.

❗️ Significant bitcoin reserves under the control of the U.S. government may also influence future policy decisions and market strategies in the cryptocurrency sector.

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