🪙 Bitcoin network volatility and on-chain activity have fallen to October 2023 levels, despite the rate being close to its all-time high.

The volume of transactions in the blockchain fell by 15% in June, which corresponds to the levels at the rate of $28,000-35,000. The mempool is almost completely empty - the share of miners' commission income has decreased to fractions of a percent with the number of unprocessed transactions falling to 5,000-15,000.

The founder of the analytical platform Alphractal, João Wedson, believes that the empty mempool indicates a lack of retail participants in the market.

🪙 The BlackRock iShares Bitcoin ETF has surpassed 700,000 BTC, accounting for 55% of all BTC held in spot Bitcoin ETFs.

🪙 Net Bitcoin flows for public companies (darker) and ETFs (lighter). US public companies bought more Bitcoin than ETFs for the third quarter in a row.

🦄 AI infrastructure provider CoreWeave (CRWV) is acquiring one of the largest Bitcoin miners, Core Scientific (CORZ), to expand its data center capabilities for high-performance computing.

The deal is valued at ~$9 billion. Under the terms of the agreement, existing Core Scientific shareholders will receive 0.1235 shares of CoreWeave at a premium. The latter will have access to 1.3 GW of capacity with the potential to expand by another 1 GW.

⚡ BTC ~ $112,000+

📊 Updating "global liquidity", as Ark sees it, divided by the Bitcoin supply (almost fixed). A local 12-month maximum has been reached, but for example in 2012 the maximum may only be related to the initial emission, which shows a further smooth trend.

⚡ BTC ~ $116,000

🦄 Long-term holders are increasing as a share of total Bitcoin holders, according to Ark Invest. However, Coinbase's premium has shrunk to zero just as it's reaching new highs, which could herald a move of "old" coins to exchanges.

🇵🇾 KULR is expanding its mining operations in Paraguay, installing 3,570 ASICs and increasing its capacity to 750 PH/s — the country was chosen due to cheap and renewable electricity from the Itaipu hydroelectric power station. KULR plans to reach 1.25 EH/s by the end of the summer and is using a Buy or Mine strategy — mining and buying BTC on the market.

Paraguay gets over 99% of its energy from Itaipu and its much smaller siblings, the Yacyreta and Acaray dams. Paraguay has a population of 6.7 million people, which is nowhere near consuming all the energy it produces, allowing it to export 90% to neighboring countries.

🇯🇵 Metaplanet bought 797 BTC — now they own 16,352 BTC worth $2 billion.

Earlier it became known that Metaplanet is considering the possibility of buying a digital bank in Japan.

⚡ BTC ~ $120,000+

💸 Bitcoin is now the 5th-largest asset in the world, surpassing Amazon, Silver, and Google.

💸BlackRock has purchased 3,294 Bitcoin and now hold 717,000 BTC.

💸 Bitcoin: Realized Capitalization and UTXO Age Groups (%). While relatively older coins are already moving, the current price range does not show significant activity from long-term holders. Anyone who wanted to sell sold earlier at the 100-110K level.

📊 According to Bitwise, according to their “supply shock” model, Bitcoin could reach $150,000 in the near future.

So-called “supply shock” occurs when institutional investors and ETFs buy up BTC much faster than miners can mine it. At the same time, a significant portion of holders choose not to sell: long-term investors continue to accumulate and withdraw coins from exchanges, which further reduces the available supply.

🇦🇺 Australia launches mortgages secured by BTC.

🚀 SpaceX transferred 1,308 BTC worth $152 million to an unknown address for the first time in three years.

The company still holds 6,977 BTC worth $817 million in its portfolio.

🇲🇽 Mexican construction company Grupo Murano is investing $1 billion in BTC, with plans to expand the Bitcoin treasury to $10 billion in 5 years.

⛏️ Bitcoin Archive: Only 5.3% of #BTC left available for mining. #mining