The German government continued its cryptocurrency transfers today. According to blockchain data analysis firm Arkham Intelligence, on July 1st at 4:25 PM UTC+8, the government sent a total of 400 Bitcoin (BTC) to three major cryptocurrency exchanges: Bitstamp, Coinbase, and Kraken. This latest transfer is valued at roughly $25.28 million. With this transaction, the total amount of Bitcoin moved by the German government to centralized exchanges (CEX) over the past two weeks has surpassed 2,700 BTC.

Base is now the #1 most used network on both Uniswap and Aave.

📊 Big News! Yesterday, US spot Bitcoin ETFs saw a massive $130 million in net inflows, marking the largest influx in three weeks!

The Mayer Multiple metric, which assesses the ratio between price and its 200-day moving average (200DMA), is an essential tool for evaluating market momentum. The 200DMA serves as a simple indicator to gauge bullish or bearish trends, with any breaks above or below this average marking key market pivot points. The 200DMA is currently at $58,000, aligning with on-chain price models.

The share of stablecoins vs fiat market share of volume just hit its highest level since 2020. Currently, 84% of crypto trade volume involves stablecoins, while fiat accounts for only 16%

Mt. Gox moved Bitcoin, causing panic in the market. This might be a good opportunity to buy the dip as a small recovery rally of 15-30% in altcoins is anticipated.

Funding rates are significantly negative, indicating that the market may be approaching a bottom. It's advisable to monitor the price over the next few days.

#Bitcoin sentiment is in fear again!

Market Insight:

Bitcoin ETFs are buying the dip on 5th July as the market tanks hard.

Follow the smart money and keep an eye on these strategic moves.

Bitcoin prices are hovering very close to the average cost of production for Bitcoin miners

Digital asset investment products saw inflows totalling $441m, with recent price weakness prompted by Mt Gox and the German government selling pressure likely being seen as a buying opportunity.

The heatmap indicates high liquidity above the $58,000 level, suggesting a potential movement towards this point to access the liquidity. Keep a close watch on the liquidation data.

USDT holds the top spot with over $112 billion market cap among stablecoins, while USDC takes second place with a market cap of $32 billion.

In Q2 2024, venture capitalists invested $3.194bn (+28% QoQ) into crypto and blockchain-focused companies across 577 deals (-4% QoQ)

BREAKING: 🇺🇸 US #inflation falls to 3%, It's lower than expectations.

The current bull rally is slightly behind previous rallies, but not by much. Historically, BTC shows rapid growth 6-8 months after Halving.