A Bit More About Corrections
Adam Back, the legendary cryptographer and cypherpunk who communicated with Satoshi Nakamoto himself (although he never met him in person, of course), and the head of Blockstream, reminds us that previous markets often saw BTC corrections of 30% or more. Currently, it's -26%, so he advises everyone to stay calm and buy the dip. 📉💰😎
Adam Back, the legendary cryptographer and cypherpunk who communicated with Satoshi Nakamoto himself (although he never met him in person, of course), and the head of Blockstream, reminds us that previous markets often saw BTC corrections of 30% or more. Currently, it's -26%, so he advises everyone to stay calm and buy the dip. 📉💰😎
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📊 The head of CryptoQuant clearly demonstrates that sales by the German government are greatly overestimated.
They account for only 4% of the total realized value since 2023 (compare the purple part of the chart to the gray).
In simpler terms, the market has sustained a 25-fold greater transfer of BTC between parties. 🧐
They account for only 4% of the total realized value since 2023 (compare the purple part of the chart to the gray).
In simpler terms, the market has sustained a 25-fold greater transfer of BTC between parties. 🧐
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⬆️ The chart of Germany's Bitcoin balance 📉
Again and again, Warren Buffett's truth is recalled that the market is a mechanism for redistributing wealth from the impatient to the patient. 🧐
😎 And Justin Sun, who previously proposed buying all bitcoins owned by the German government in the OTC market to reduce price pressure, made a mocking comment about the German national football team:
😂😂😂
Again and again, Warren Buffett's truth is recalled that the market is a mechanism for redistributing wealth from the impatient to the patient. 🧐
😎 And Justin Sun, who previously proposed buying all bitcoins owned by the German government in the OTC market to reduce price pressure, made a mocking comment about the German national football team:
The reason the German team lost the game in this European Championship might be because they sold too much Bitcoin.
😂😂😂
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Announcement of key loss near Central Park in New York City
💰 A reward of $10,000 is offered due to a crypto wallet Ledger attached to the keychain.
Having the seed phrase would help recover access to the crypto even without the wallet, but the owner apparently does not remember it. 😢
💰 A reward of $10,000 is offered due to a crypto wallet Ledger attached to the keychain.
Having the seed phrase would help recover access to the crypto even without the wallet, but the owner apparently does not remember it. 😢
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Justin Sun announced that his team is developing a solution that will enable stablecoin transfers without the need to hold a gas asset.
Fees will be paid in stablecoins. 👍
Initially, the service will be launched on Tron, followed by Ethereum and other EVM networks. The launch is expected in the fourth quarter of this year.
Fees will be paid in stablecoins. 👍
Initially, the service will be launched on Tron, followed by Ethereum and other EVM networks. The launch is expected in the fourth quarter of this year.
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Someone is selling Bitcoin, and someone is buying it. 👀
🇯🇵 The Japanese company Metaplanet announced the acquisition of an additional 42.47 BTC for 400 million yen.
The company's total balance now amounts to 203.734 BTC. 💰
What do you think, who is being wiser right now? Governments selling Bitcoin - 👍 or companies buying it - ❤️?
🇯🇵 The Japanese company Metaplanet announced the acquisition of an additional 42.47 BTC for 400 million yen.
The company's total balance now amounts to 203.734 BTC. 💰
What do you think, who is being wiser right now? Governments selling Bitcoin - 👍 or companies buying it - ❤️?
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Half of American Voter Plans to Enter in Crypto!
🇺🇸 Grayscale recently conducted a survey, revealing that if an $ETH ETF is approved, 25% of U.S. voters would be interested in investing in Ethereum.
Moreover, the same survey shows that 47% of voters plan to add cryptocurrencies to their investment portfolios. 🧐
It seems that very soon, they will start to understand our pain. 😁
🇺🇸 Grayscale recently conducted a survey, revealing that if an $ETH ETF is approved, 25% of U.S. voters would be interested in investing in Ethereum.
Moreover, the same survey shows that 47% of voters plan to add cryptocurrencies to their investment portfolios. 🧐
It seems that very soon, they will start to understand our pain. 😁
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Messari CEO Declares War on "Corrupt" SEC
📰 Messari CEO has issued a "Declaration of Independence" from the SEC, criticizing Chairman Gary Gensler as corrupt and ineffective.
👀 The company plans to stop cooperating with the SEC and provide higher-quality crypto market reporting without taxpayer costs. The declaration highlights SEC's failures, political persecution of legitimate entities, and questions its authority over crypto markets.
✔️ Messari aims to compete with the SEC by offering a global service, believing that current regulations hinder U.S. crypto leadership and economy.
📰 Messari CEO has issued a "Declaration of Independence" from the SEC, criticizing Chairman Gary Gensler as corrupt and ineffective.
👀 The company plans to stop cooperating with the SEC and provide higher-quality crypto market reporting without taxpayer costs. The declaration highlights SEC's failures, political persecution of legitimate entities, and questions its authority over crypto markets.
✔️ Messari aims to compete with the SEC by offering a global service, believing that current regulations hinder U.S. crypto leadership and economy.
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Scammers Fell for Their Own Trick and Lost 10 ETH ($30,000)! 🙀
👚 The notorious group Pink Drainer, known for stealing cryptocurrency from wallets, became victims of an address poisoning attack (spam transactions). 😁
🧪 Spam transaction fraud occurs when scammers send small amounts to a wallet from addresses that resemble the user's address. Some users copy addresses from their recent transaction history when sending funds, leading to the loss of crypto assets. Recently, a user lost 1,155 WBTC due to such a scheme (the funds were later returned).
👚 The notorious group Pink Drainer, known for stealing cryptocurrency from wallets, became victims of an address poisoning attack (spam transactions). 😁
🧪 Spam transaction fraud occurs when scammers send small amounts to a wallet from addresses that resemble the user's address. Some users copy addresses from their recent transaction history when sending funds, leading to the loss of crypto assets. Recently, a user lost 1,155 WBTC due to such a scheme (the funds were later returned).
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Bybit Exchange Announces Pre-market Listing of Hamster Kombat!
There is no official information from the developers yet, but if the pre-market has launched on Bybit, a full listing is also expected there. 🧐
There is no official information from the developers yet, but if the pre-market has launched on Bybit, a full listing is also expected there. 🧐
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Samourai Wallet CTO Released on $2M Bail
🥷 William Lonergan Gill, CTO of Samourai Wallet, has been released on $2 million bail after his extradition from Portugal. His first hearing is scheduled for July 9 or 10 in New York. 💰
Despite government opposition, his lawyers argued he isn't a flight risk and that the charges are unprecedented.
👀 Gill, accused of aiding in laundering $100 million for cybercriminals, was released after paying $200,000 in cash and securing the rest with his family home. The case has sparked public debate, with senators criticizing the prosecution.
💲 The defense emphasized that peer-to-peer apps like Samourai Wallet aren't considered money transfer services and have been available legally for years.
🥷 William Lonergan Gill, CTO of Samourai Wallet, has been released on $2 million bail after his extradition from Portugal. His first hearing is scheduled for July 9 or 10 in New York. 💰
Despite government opposition, his lawyers argued he isn't a flight risk and that the charges are unprecedented.
👀 Gill, accused of aiding in laundering $100 million for cybercriminals, was released after paying $200,000 in cash and securing the rest with his family home. The case has sparked public debate, with senators criticizing the prosecution.
💲 The defense emphasized that peer-to-peer apps like Samourai Wallet aren't considered money transfer services and have been available legally for years.
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BTC Losing Holders
📉Since June 15, the number of BTC wallets with a balance has decreased by 560,000.
According to Santiment, this indicates a clear sign of fear.🧐
In January, a similar situation was followed by growth. 🚀
📉Since June 15, the number of BTC wallets with a balance has decreased by 560,000.
According to Santiment, this indicates a clear sign of fear.🧐
In January, a similar situation was followed by growth. 🚀
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Yesterday, American funds made a significant purchase of Bitcoin during the dip, amounting to $294 million.
This is the largest net inflow into a Bitcoin ETF in the US in the past month. 💰
🇩🇪 They could have negotiated directly with the German government for the purchase, as they continue to actively sell their Bitcoins on centralized exchanges. 🧐
This is the largest net inflow into a Bitcoin ETF in the US in the past month. 💰
🇩🇪 They could have negotiated directly with the German government for the purchase, as they continue to actively sell their Bitcoins on centralized exchanges. 🧐
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The CBOE Exchange has submitted applications to the U.S. SEC for listing shares of spot ETFs based on Solana from VanEck and 21Shares.
The regulator will have 240 days to approve these funds or reject their launch.
👀 According to Bloomberg ETF market analyst Eric Balchunas, the likely launch of such products will be influenced by the results of the 🇺🇸 U.S. presidential election. He believes approval is possible only if Donald Trump wins.
The regulator will have 240 days to approve these funds or reject their launch.
👀 According to Bloomberg ETF market analyst Eric Balchunas, the likely launch of such products will be influenced by the results of the 🇺🇸 U.S. presidential election. He believes approval is possible only if Donald Trump wins.
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Updated Applications for ETH ETF
📝 Grayscale has submitted an updated application for a spot ETH ETF, indicating July 18 as the date for the initial creation and distribution of Grayscale Ethereum Mini Trust shares to ETHE shareholders.
👀 21Shares and VanEck have also updated their applications.
It shouldn’t be long now 🤓🚀
📝 Grayscale has submitted an updated application for a spot ETH ETF, indicating July 18 as the date for the initial creation and distribution of Grayscale Ethereum Mini Trust shares to ETHE shareholders.
👀 21Shares and VanEck have also updated their applications.
It shouldn’t be long now 🤓🚀
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Only the government of El Salvador is increasing its BTC reserves in 2024, buying 1 BTC every day.
👀 Other countries are slowly selling off their holdings.
As of today, the 🇺🇸 US government holds 214,361 BTC, the 🇬🇧 UK government has 61,245 BTC, 🇩🇪 Germany has 26,686 BTC, and 🇸🇻 El Salvador has 5,806 BTC.
😂 Meanwhile, Michael Saylor from MicroStrategy couldn't resist trolling the German government by writing his legendary phrase, "Everyone gets Bitcoin at the price they deserve," in German:
👀 Other countries are slowly selling off their holdings.
As of today, the 🇺🇸 US government holds 214,361 BTC, the 🇬🇧 UK government has 61,245 BTC, 🇩🇪 Germany has 26,686 BTC, and 🇸🇻 El Salvador has 5,806 BTC.
😂 Meanwhile, Michael Saylor from MicroStrategy couldn't resist trolling the German government by writing his legendary phrase, "Everyone gets Bitcoin at the price they deserve," in German:
Jeder bekommt #Bitcoin zu dem Preis, den er verdient.
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Citi Predicts Start of Fed Rate Cuts in September
📉 Starting in September and continuing through the next seven meetings until July 2025, the Federal Reserve will reduce the key interest rate eight times by 25 basis points each, totaling a 2% reduction, according to Citi analysts.
🗝 The regulator is expected to maintain the key rate at 3.25% until the end of next year.
👀 Experts noted that the Fed is likely to change its policy as the economy is "heading towards a sharp downturn." 🔪
🔣 Signs of this include rising unemployment to 4.1% and cooling business activity in the services sector. Citi also highlighted the "dovish" tone of recent comments by Fed Chair Jerome Powell.
🕰 On July 9 at 14:00 UTC, the Fed Chair will speak before the Senate Banking Committee. Signals regarding adjustments to monetary policy can be expected.
As of now, the swaps market estimates a 70% chance of a rate cut in September, according to Bloomberg. 🧐
📉 Starting in September and continuing through the next seven meetings until July 2025, the Federal Reserve will reduce the key interest rate eight times by 25 basis points each, totaling a 2% reduction, according to Citi analysts.
🗝 The regulator is expected to maintain the key rate at 3.25% until the end of next year.
👀 Experts noted that the Fed is likely to change its policy as the economy is "heading towards a sharp downturn." 🔪
🔣 Signs of this include rising unemployment to 4.1% and cooling business activity in the services sector. Citi also highlighted the "dovish" tone of recent comments by Fed Chair Jerome Powell.
🕰 On July 9 at 14:00 UTC, the Fed Chair will speak before the Senate Banking Committee. Signals regarding adjustments to monetary policy can be expected.
As of now, the swaps market estimates a 70% chance of a rate cut in September, according to Bloomberg. 🧐
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Bitcoin rose to $59,000 after statements by the Federal Reserve Chair
📈 The price of the leading cryptocurrency returned to levels above $59,000 against the backdrop of Federal Reserve Chair Jerome Powell's remarks in the Senate.
⬆️ Bitcoin's quotes increased by 3.3% over the day. The market capitalization grew by 2.5% and reached $2.23 billion.
👀 During hearings at the Banking Committee, Powell stated that the U.S. economy is "no longer overheated" and the labor market has "cooled significantly" compared to the pandemic era.
According to him, arguments in favor of lowering interest rates are becoming increasingly compelling. The inflation rate has improved in recent months, which provides grounds for easing monetary policy, Powell noted. 🧐
📈 The price of the leading cryptocurrency returned to levels above $59,000 against the backdrop of Federal Reserve Chair Jerome Powell's remarks in the Senate.
⬆️ Bitcoin's quotes increased by 3.3% over the day. The market capitalization grew by 2.5% and reached $2.23 billion.
👀 During hearings at the Banking Committee, Powell stated that the U.S. economy is "no longer overheated" and the labor market has "cooled significantly" compared to the pandemic era.
According to him, arguments in favor of lowering interest rates are becoming increasingly compelling. The inflation rate has improved in recent months, which provides grounds for easing monetary policy, Powell noted. 🧐
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🇩🇪 Germany’s Bitcoin sale? Not really!
It's the state of Saxony, not the entire government. Saxony can't hold onto the coins, so they're selling them.
🚔 In January, Saxony’s police seized 49,857 BTC from Movie2k site admins. On June 19, the Federal Criminal Police (BKA) began moving these Bitcoins to exchanges like Kraken, Bitstamp, and Coinbase. The BKA wallet now holds 23,964 BTC worth $1.42 billion.
😳 The crypto community is nervous, but Blockchain Research Lab’s Lennart Ante says it's just standard procedure for confiscated assets, though this case is larger than usual. The BKA, involved due to their investigation role, is acting on government orders.
Expect the remaining BTC to be sold soon. Recently, exchanges returned 5,366 BTC to the wallet, possibly due to unmet target prices. 💰🔍
It's the state of Saxony, not the entire government. Saxony can't hold onto the coins, so they're selling them.
🚔 In January, Saxony’s police seized 49,857 BTC from Movie2k site admins. On June 19, the Federal Criminal Police (BKA) began moving these Bitcoins to exchanges like Kraken, Bitstamp, and Coinbase. The BKA wallet now holds 23,964 BTC worth $1.42 billion.
😳 The crypto community is nervous, but Blockchain Research Lab’s Lennart Ante says it's just standard procedure for confiscated assets, though this case is larger than usual. The BKA, involved due to their investigation role, is acting on government orders.
Expect the remaining BTC to be sold soon. Recently, exchanges returned 5,366 BTC to the wallet, possibly due to unmet target prices. 💰🔍
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