Signs of a Local Bottom for Bitcoin?
📉 In the past three weeks, Bitcoin corrected by around 15%, dropping from $70k to $60k. However, there are signs of a potential local bottom, according CryptoQuant.
🔍 Futures Market:
▪️Open Interest dropped by $3 billion, mainly from long liquidations.
▪️Funding rates for perpetual contracts are near zero, indicating balanced buyer-seller dynamics and a healthier price structure.
💼 Short-Term Holders:
▪️Bitcoin’s price crossed the realized price of short-term holders (STHs) at $62.6k.
▪️STHs are now experiencing slightly negative profitability, a historical support point during uptrends.
📊 Macroeconomic Factors:
▪️U.S. macroeconomic data, including GDP, jobless claims (Thursday), and inflation (PCE) data (Friday), maybe influence market sentiment.
But current trends and data suggest a potential local bottom for Bitcoin.
📉 In the past three weeks, Bitcoin corrected by around 15%, dropping from $70k to $60k. However, there are signs of a potential local bottom, according CryptoQuant.
🔍 Futures Market:
▪️Open Interest dropped by $3 billion, mainly from long liquidations.
▪️Funding rates for perpetual contracts are near zero, indicating balanced buyer-seller dynamics and a healthier price structure.
💼 Short-Term Holders:
▪️Bitcoin’s price crossed the realized price of short-term holders (STHs) at $62.6k.
▪️STHs are now experiencing slightly negative profitability, a historical support point during uptrends.
📊 Macroeconomic Factors:
▪️U.S. macroeconomic data, including GDP, jobless claims (Thursday), and inflation (PCE) data (Friday), maybe influence market sentiment.
But current trends and data suggest a potential local bottom for Bitcoin.
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CEO Ripple: SEC's Policy Could Cost Biden the Election!
❗️Ripple CEO Brad Garlinghouse warned that SEC Chair Gary Gensler's policies might lead to Joe Biden's defeat in the upcoming November presidential election. Garlinghouse was outraged by Gensler's comments at the Bloomberg Invest Summit in New York, where he stated that key industry players are either in jail, heading to jail, or facing extradition.
👀 Garlinghouse called these remarks "nonsense" and criticized Gensler for missing the FTX scandal and not being involved in the DOJ's Binance announcement. He argued that if Gensler truly "worked for the American people," he would have been fired by now.
⚖️ Ripple has been in a legal battle with the SEC since 2020, when the Commission accused Ripple of raising $1.3 billion through the sale of XRP as unregistered securities.
❗️Ripple CEO Brad Garlinghouse warned that SEC Chair Gary Gensler's policies might lead to Joe Biden's defeat in the upcoming November presidential election. Garlinghouse was outraged by Gensler's comments at the Bloomberg Invest Summit in New York, where he stated that key industry players are either in jail, heading to jail, or facing extradition.
👀 Garlinghouse called these remarks "nonsense" and criticized Gensler for missing the FTX scandal and not being involved in the DOJ's Binance announcement. He argued that if Gensler truly "worked for the American people," he would have been fired by now.
⚖️ Ripple has been in a legal battle with the SEC since 2020, when the Commission accused Ripple of raising $1.3 billion through the sale of XRP as unregistered securities.
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The US government transferred 3940 BTC to Coinbase.
🇺🇸 The US government's wallets moved 3940 BTC ($241 million) to Coinbase.
🔎 Arkham Research reports that these bitcoins were seized from an Indian citizen, Banmit Singh, who in 2024 pleaded guilty to distributing controlled substances and money laundering.
👀 Currently, the confiscated BTC is also periodically sold by the government of Germany.
According to CryptoQuant, these amounts are deemed insufficient to impact the market significantly, as only Coinbase Prime processes volumes that are orders of magnitude larger. 🧐
🇺🇸 The US government's wallets moved 3940 BTC ($241 million) to Coinbase.
🔎 Arkham Research reports that these bitcoins were seized from an Indian citizen, Banmit Singh, who in 2024 pleaded guilty to distributing controlled substances and money laundering.
👀 Currently, the confiscated BTC is also periodically sold by the government of Germany.
According to CryptoQuant, these amounts are deemed insufficient to impact the market significantly, as only Coinbase Prime processes volumes that are orders of magnitude larger. 🧐
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🚀 The largest validator of the Solana blockchain has become Galaxy, surpassing Coinbase by more than 1.2 million locked SOL.
📲 Meanwhile, the number of Chapter 2 Preorder Token holders (confirming the right to pre-order new Solana crypto phones) has exceeded 140,600!
📲 Meanwhile, the number of Chapter 2 Preorder Token holders (confirming the right to pre-order new Solana crypto phones) has exceeded 140,600!
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Currently, there are 1,010,777 addresses worldwide holding at least 1 whole BTC in balance.
Oops, maybe now it's 1,010,776 😄. After 14 years, another miner from the Satoshi era woke up and transferred 50 BTC to Binance.
🔨 He mined 50 coins on July 14, 2010, and has been inactive since. Today, these coins are valued at $3.05 million.
The most interesting part is that he paid only a $2 fee! 💪
Oops, maybe now it's 1,010,776 😄. After 14 years, another miner from the Satoshi era woke up and transferred 50 BTC to Binance.
🔨 He mined 50 coins on July 14, 2010, and has been inactive since. Today, these coins are valued at $3.05 million.
The most interesting part is that he paid only a $2 fee! 💪
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👀 The probability is 43% that Donald Trump will mention cryptocurrency and Bitcoin during the debates with Joe Biden, according to betting odds on Polymarket. The presidential candidate debates will be broadcast live on CNN on June 28 at 01:00 UTC.
📈 Increased volatility is expected in "PoliFi" meme coins (such as $TRUMP, $TREMP, $BODEN, etc.), which is logical as degens use any opportunity to promote their meme coins.😁
📈 Increased volatility is expected in "PoliFi" meme coins (such as $TRUMP, $TREMP, $BODEN, etc.), which is logical as degens use any opportunity to promote their meme coins.😁
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Marathon Digital Expands Mining Beyond Bitcoin
🌐 Marathon Digital Holdings has ventured into Kaspa (KAS) mining to diversify its revenue streams, emphasizing it's not abandoning Bitcoin.
👀 "Kaspa will only constitute 1% of our total capacity," assured Marathon's VP of Investor Relations, Robert Semyuels.
The initiative aims for "higher margins," potentially up to 95% with Kaspa mining machines.
📈 Since launching Kaspa ASIC devices in September 2023, Marathon has mined 93 million KAS ($16 million). KAS tokens surged 420% since then, outperforming Bitcoin's 135% rise.
Kaspa ranks fifth in Proof-of-Work assets, mineable with specialized hardware, boasting a market cap exceeding $4.2 billion. 💰
Following the announcement, KAS saw daily growth rates of 11%, with trading volume up 155%.
🌐 Marathon Digital Holdings has ventured into Kaspa (KAS) mining to diversify its revenue streams, emphasizing it's not abandoning Bitcoin.
👀 "Kaspa will only constitute 1% of our total capacity," assured Marathon's VP of Investor Relations, Robert Semyuels.
The initiative aims for "higher margins," potentially up to 95% with Kaspa mining machines.
📈 Since launching Kaspa ASIC devices in September 2023, Marathon has mined 93 million KAS ($16 million). KAS tokens surged 420% since then, outperforming Bitcoin's 135% rise.
Kaspa ranks fifth in Proof-of-Work assets, mineable with specialized hardware, boasting a market cap exceeding $4.2 billion. 💰
Following the announcement, KAS saw daily growth rates of 11%, with trading volume up 155%.
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🌐 Binance Takes Action Against Account Misuse
📢 Binance has announced measures to address the misuse of account features, aiming to uphold compliance and market integrity.
🕵️♂️ The platform will enhance monitoring and take strict actions against unauthorized access, emphasizing fairness and user protection.
📝 Users also can report misuse incidents for potential rewards, contributing to a transparent trading environment.
Earlier Binance took action against Sybil accounts
🔐 Binance has blocked 297 accounts involved in exploiting the Lista Megadrop event, where individuals used multiple accounts to maximize rewards and consolidate tokens for sale.
😁 Among them is one, the most interesting. He received a drop on 9,000 accounts, transferred all tokens to his main account, and naturally, his accounts were frozen.
In general, the platform identified 102,000 accounts as Sybil accounts during the event. 🥶
📢 Binance has announced measures to address the misuse of account features, aiming to uphold compliance and market integrity.
🕵️♂️ The platform will enhance monitoring and take strict actions against unauthorized access, emphasizing fairness and user protection.
📝 Users also can report misuse incidents for potential rewards, contributing to a transparent trading environment.
Earlier Binance took action against Sybil accounts
🔐 Binance has blocked 297 accounts involved in exploiting the Lista Megadrop event, where individuals used multiple accounts to maximize rewards and consolidate tokens for sale.
😁 Among them is one, the most interesting. He received a drop on 9,000 accounts, transferred all tokens to his main account, and naturally, his accounts were frozen.
In general, the platform identified 102,000 accounts as Sybil accounts during the event. 🥶
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🏆 TapSwap Champion! 🤣🤣🤣
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GSR Markets predicts that a potential spot Solana ETF in the US could skyrocket SOL's price by up to 9 times its current value! 🚀
🔮 This forecast hinges on the ETF capturing 14% of Bitcoin ETF flows, a game-changer for Solana's market position. GSR's bullish outlook sees SOL reaching over $1,320 in a "blue sky" scenario, with the ecosystem's growth bolstering its appeal. 🐃🌌
While regulatory hurdles remain, recent filings by VanEck and 3iQ hint at growing institutional interest. 👀
🔮 This forecast hinges on the ETF capturing 14% of Bitcoin ETF flows, a game-changer for Solana's market position. GSR's bullish outlook sees SOL reaching over $1,320 in a "blue sky" scenario, with the ecosystem's growth bolstering its appeal. 🐃🌌
While regulatory hurdles remain, recent filings by VanEck and 3iQ hint at growing institutional interest. 👀
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📉🚀 BTC - Miners' Selling Pressure Eases!
Great news for all crypto enthusiasts! One of the recent causes of the cryptocurrency market's decline—active selling by miners—is starting to weaken. 🥳
After the Bitcoin halving, when mining rewards were cut in half, older mining machines became unprofitable. As a result, mining activity decreased, and miners began selling BTC in OTC transactions to cover their operational costs.
But now, the market is in the process of digesting this massive sell-off. Accordinf to CryproQuant, the quantity and volume of bitcoins that miners are sending out of their wallets are rapidly decreasing. 📉
In other words, the selling pressure from miners is weakening. If the market can absorb all their selling volume, there's a chance for the upward rally to continue. 💪
Positive movements in the cryptocurrency market are expected in the third quarter of 2024. 🚀🌕
Great news for all crypto enthusiasts! One of the recent causes of the cryptocurrency market's decline—active selling by miners—is starting to weaken. 🥳
After the Bitcoin halving, when mining rewards were cut in half, older mining machines became unprofitable. As a result, mining activity decreased, and miners began selling BTC in OTC transactions to cover their operational costs.
But now, the market is in the process of digesting this massive sell-off. Accordinf to CryproQuant, the quantity and volume of bitcoins that miners are sending out of their wallets are rapidly decreasing. 📉
In other words, the selling pressure from miners is weakening. If the market can absorb all their selling volume, there's a chance for the upward rally to continue. 💪
Positive movements in the cryptocurrency market are expected in the third quarter of 2024. 🚀🌕
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Crypto soothsayer
Robert Kiyosaki: Bitcoin is moving into the "Banana Zone." Kiyosaki believes that Raoul Pal, a former high-ranking executive at Goldman Sachs and the author of this concept, knows what he’s talking about. 🍌 The "Banana Zone" means that Bitcoin is becoming…
Robert Kiyosaki stated that any ETFs are a fake.
Kiyosaki buys only real gold, silver, and Bitcoin, and keeps them away from banks and Wall Street bankers.
Kiyosaki buys only real gold, silver, and Bitcoin, and keeps them away from banks and Wall Street bankers.
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Fake Phantom Wallet Drains Crypto! ⚠️🚨
👻 A fake Phantom wallet on Apple’s app store is stealing user funds when recovering accounts with private keys. The scam app mimics the original Phantom wallet but is listed as an educational app by "Meta Voxify."
Despite being removed, it still appears under “Meta Voxify” or “Voxify AI.” Many users reported losing funds, so stay alert and protect your crypto assets! 🚀🔒
👻 A fake Phantom wallet on Apple’s app store is stealing user funds when recovering accounts with private keys. The scam app mimics the original Phantom wallet but is listed as an educational app by "Meta Voxify."
Despite being removed, it still appears under “Meta Voxify” or “Voxify AI.” Many users reported losing funds, so stay alert and protect your crypto assets! 🚀🔒
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Possible Rug Pull by Dop!
🗣 Rumors are spreading that Dop developers might disappear with $164 million.
Arkham has revealed that these funds are being distributed to different wallets for withdrawal. 💰
Dop hasn't denied these claims and only tweeted "04.07.2024." 👁
It would be ironic if the developers have announced the exact date they plan to scam their audience 😅
🗣 Rumors are spreading that Dop developers might disappear with $164 million.
Arkham has revealed that these funds are being distributed to different wallets for withdrawal. 💰
Dop hasn't denied these claims and only tweeted "04.07.2024." 👁
It would be ironic if the developers have announced the exact date they plan to scam their audience 😅
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🕺 The crypto bros from EHT Capital had a blast at a club in Miami, reminding everyone that Craig Wright is not Satoshi (see the messages on the screens). I wonder if the cocktails there were as fake as his claims to be the creator of Bitcoin! 🍸😆
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The SEC has officially filed a lawsuit against ConsenSys.
🇺🇸 The Securities and Exchange Commission (SEC) has initiated legal action against ConsenSys, the developer behind MetaMask.
The company is accused of engaging in the sale of securities and operating as an unregistered broker through its MetaMask platform.
The SEC has also identified the liquid staking programs of Lido and Rocket Pool as securities.
🇺🇸 The Securities and Exchange Commission (SEC) has initiated legal action against ConsenSys, the developer behind MetaMask.
The company is accused of engaging in the sale of securities and operating as an unregistered broker through its MetaMask platform.
The SEC has also identified the liquid staking programs of Lido and Rocket Pool as securities.
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The SEC has sent back S-1 forms for Ethereum ETF issuers for revisions
👀 During the latest round of negotiations, the Securities and Exchange Commission (SEC) returned the S-1 forms to the issuers.
According to a source from The Block, the forms were returned with few comments. Issuers have been asked to resubmit the documents by July 8. 🧐
Bloomberg analyst Eric Balchunas adjusted his forecast, stating that the approval process will begin after July 8.
👀 During the latest round of negotiations, the Securities and Exchange Commission (SEC) returned the S-1 forms to the issuers.
According to a source from The Block, the forms were returned with few comments. Issuers have been asked to resubmit the documents by July 8. 🧐
Bloomberg analyst Eric Balchunas adjusted his forecast, stating that the approval process will begin after July 8.
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The co-founder of Kraken donated $1 million in crypto to Donald Trump's pre-election campaign
💰 The co-founder of Kraken, Jess Powell, donated $1 million, primarily in ETH, to Donald Trump's pre-election campaign.
He stated his support for "pro-crypto major party candidate".
Powell concluded his announcement with the hashtag #freeross, referencing Trump's promise to pardon Silk Road founder Ross Ulbricht. 🏴☠️
Previously, Gemini founders Cameron and Tyler Winklevoss donated $2 million in Bitcoin to Trump. However, part of the funds was returned due to exceeding the maximum allowable donation.🧐
💰 The co-founder of Kraken, Jess Powell, donated $1 million, primarily in ETH, to Donald Trump's pre-election campaign.
He stated his support for "pro-crypto major party candidate".
Powell concluded his announcement with the hashtag #freeross, referencing Trump's promise to pardon Silk Road founder Ross Ulbricht. 🏴☠️
Previously, Gemini founders Cameron and Tyler Winklevoss donated $2 million in Bitcoin to Trump. However, part of the funds was returned due to exceeding the maximum allowable donation.🧐
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21Shares has applied to launch a Solana ETF.
📝 Swiss company 21Shares has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to register an exchange-traded fund based on the cryptocurrency Solana (SOL).
👀 The product is expected to be listed on the Cboe BZX exchange, with the ticker yet to be specified. Coinbase Custody Trust Company will act as the custodian for SOL.
21Shares submitted the documents the day after VanEck. Previously, both companies filed updated applications for Ethereum spot ETFs.
📝 Swiss company 21Shares has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to register an exchange-traded fund based on the cryptocurrency Solana (SOL).
👀 The product is expected to be listed on the Cboe BZX exchange, with the ticker yet to be specified. Coinbase Custody Trust Company will act as the custodian for SOL.
21Shares submitted the documents the day after VanEck. Previously, both companies filed updated applications for Ethereum spot ETFs.
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