According to data from SoSoValue, the market is seeing a significant strengthening of inflows into bitcoin-ETFs.
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We tell you what happened in the cryptocurrency market over the past week:
The first cryptocurrency started the week at below $62,000. On Wednesday, July 3, the digital gold failed the $61,000 mark. The following day, bitcoin fell below $57,000.
Bitcoin is able to reach a new all-time high in August and then grow to $100,000 by the US presidential election in November. Such a forecast was presented in Standard Chartered.
The realization of the scenario depends on the prospects of Joe Biden in the presidential race. His continued participation will support the preferred chances of victory more favorable to digital gold Donald Trump, the experts pointed out.
Euro Pacific Capital President Peter Schiff predicted a significant drop in the price of Ethereum (ETH) - to the $1500 mark.
Amid the market decline, the entrepreneur noted that the second most capitalized cryptocurrency has collapsed below $2900, trading 30% below its March high and breaking through key support levels.
VanEck's Head of Digital Asset Research Matthew Siegel believes that the chances of launching a Solana-based spot ETF in the U.S. depends on the outcome of the U.S. election.
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The US Supreme Court has overturned the Chevron doctrine, which gave regulators discretion to interpret the laws they are charged with enforcing.
It will now become more difficult for the SEC to carry out enforcement actions against cryptocurrency companies due to the near total lack of legal and regulatory clarity in the industry.
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Important figures:
With half a billion users worldwide, increased regulation and technological advancements, the adoption and use of cryptocurrencies will continue to grow.
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Well-known analyst Eric Crown emphasized that historically July was a positive month for BTC.
According to the analyst, it will take until the end of July to prepare for a possible breakout in the value of BTC in Q4.
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What do you think July will be like? Bullish or bearish?
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Write your variants in the comments!
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We tell you what happened in the cryptocurrency market over the past week:
Digital gold started the week with high volatility. The asset was trading at $54,500 on Monday morning, rose to $58,000 by lunchtime, but corrected to $55,000 by late afternoon.
On the evening of July 12, German authorities realized all 49,860 BTC worth about $2.97 billion seized from pirate portal Movie2k in January.
It also emerged in the week that the assets were seized by the police department of the German federal state of Saxony, but were stored on the wallet of the German Federal Criminal Police Office.
The developers of the clicker game Hamster Kombat talked about the genesis of the project and announced the second airdrop. The creators wished to remain anonymous, but stated that they have been working in the crypto industry since 2013.
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During a campaign speech, US presidential candidate Donald Trump was shot in the right ear. The shooter was killed and two other audience members were injured.
π After the assassination attempt, Trump's chances of re-election in the presidential election have increased significantly.
Investors are also predicting an increase in betting on Trump's victory in the coming week. And BTC has already risen above the $60,000 mark after the shooting.
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Sentiment in the post-halving cryptocurrency market is mixed, says the results of a survey from CoinGecko. 49% of respondents are still optimistic about the market, while 25% are neutral about the current situation and another 25% are pessimistic.
By category:
β½οΈMost investors are optimistic (54% are in favor of growth and only 20% bet on a fall);
β½οΈAmong developers 47% are positive and 31% are negative;
β½οΈTraders 39% vs. 33%;
β½οΈSide observers are the most pessimistic, with only 28% believing the market will grow and 42% voting for a fall.
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We have hidden one of the famous terms that every cryptan uses. Your task: write your guess about what word was hidden!
To simplify this puzzle, we are ready to give you a hint:
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We tell you what happened on the cryptocurrency market over the past week:
Having ended the previous week with growth, digital gold continued its upward trend. The coin reached $64,000 on Tuesday, but corrected to $63,000 after Mt.Gox moved $6 billion in assets.
On July 18, the U.S. Securities and Exchange Commission (SEC) approved applications to launch an Ethereum-based mini-ETF from Grayscale and an exchange-traded fund from ProShares.
On the same day, various media outlets named July 23 as the benchmark for the start of trading. This view was also supported by Bloomberg stock analyst Eric Balchunas βin the absence of unforeseen circumstances.β
Polygon developers have set a date for the conversion of the MATIC utility token to Polygon Ecosystem Token (POL) at a 1:1 ratio. The process is scheduled for September 4.
The proposal has been approved by the community. POL will replace MATIC as the primary asset for steaking and paying for gas.
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Kaspa Coin (KAS) is rising despite difficulties in the overall market. Analysts point to Kaspa's unique 8-month cycle as the driving force behind its recent successes.
According to crypto analyst Plan B, Kaspa does not follow broader market trends; instead, it follows its own adoption curve and 8-month cyclical patterns.
It's not too late to become part of the project and get yourself a $KAS!
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Mike Novogratz shared that China may lift restrictions on BTC transactions as early as the fourth quarter of this year.
If the Chinese authorities do allow transactions with digital assets, it could be a powerful catalyst for the growth of the cryptocurrency market!
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According to a report by Ark Invest, BTC is in an oversold zone. This comes after the German government sold off 50,000 BTC (about $2.9 billion) seized in a police operation against streaming platform Movie2k.
βBased on short-term realized gains and losses of holders, as well as outflows from miners, bitcoin appears oversold,β the report said.
Contrary to expectations, the sharp drop in price has not caused a panicked flight from spot bitcoin-ETFs.
Moreover, July saw a veritable boom in inflows into these funds. According to CoinShares data, last week alone, about $1.35 billion flowed into bitcoin-ETFs. And BlackRock's iShares Bitcoin Trust (IBIT) raised $107 million on July 18 after nine days of continuous inflows.
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Arkham Intelligence data highlights these organizations' interest in the largest cryptocurrency, which could have serious implications for the entire industry.
The involvement of Ark Invest and VanEck, known for their innovative approaches to investing and active participation in the cryptocurrency space, also highlights the growing role of bitcoin as an important element of a portfolio.
The growing number of institutional participants in the market may further develop and strengthen the position of digital currencies in the global economy.
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We tell you what happened in the cryptocurrency market over the past week:
The first cryptocurrency started the week from the $68,000 level. On Monday, July 22, quotes of digital gold fell below $67,000, and the next day - failed the $66,000 mark.
On Thursday, July 25, bitcoin fell to $64,000, but soon began a recovery. On Saturday, July 27, the first cryptocurrency soared above $69,000 before crashing back down.
On July 23, trading of spot Ethereum-ETFs began. The products finished the first day after listing with a trading volume of about $1.08 billion - 23% of that of bitcoin-based exchange-traded funds over the same period.
Amid the launch of spot Ethereum funds, instruments based on the first cryptocurrency recorded outflows of $77.8 million for the first time in the last 12 days of trading.
During a speech at the annual Bitcoin 2024 conference in Nashville, US presidential candidate Donald Trump promised, if elected, to fire SEC head Gary Gensler and create a strategic bitcoin reserve.
The politician also said he would not allow any of the 213,239 BTC worth $14.8 billion seized by authorities and held in US government wallets to be sold, according to Arkham.
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Speaking to an audience in Nashville, the businessman suggested that investors should transfer all assets into bitcoins and move to a low-tax jurisdiction. The strategy could be relevant not only for individuals but also for individual companies, the MicroStrategy founder said.
βIt could be a bearish scenario with a rise to $13 million, or it could be a bullish scenario where bitcoin reaches $49 million.β
All physical assets, including gold and money, have a finite lifespan - unlike bitcoin.
βBitcoin is an exception. It is immortal, immutable and intangible. Because cryptocurrency is not in the physical world, it has an infinite lifespan. This is the solution to the economic dilemma."
π Start with $100 and begin mining cryptocurrency in one click!
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π Cryptocurrency has more potential than stocks, real estate.
Investors in the United States view cryptocurrencies as having more growth potential than traditional investment vehicles such as stocks, bonds and real estate.
β‘οΈ 73% of cryptocurrency users in the United States plan to continue investing in 2025.
β‘οΈ Survey participants with household incomes of $175,000 to $200,000 or more indicated an 82% likelihood of investing in cryptocurrency in 2025.
β‘οΈ Users see more growth potential in cryptocurrency than in stocks or real estate
While others may be chasing the next big coin , many see cryptocurrency as a viable option alongside traditional assets.
π Start with $100 and begin mining cryptocurrency in one click!
π Necessary links
Investors in the United States view cryptocurrencies as having more growth potential than traditional investment vehicles such as stocks, bonds and real estate.
While others may be chasing the next big coin , many see cryptocurrency as a viable option alongside traditional assets.
π Start with $100 and begin mining cryptocurrency in one click!
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We have hidden one of the famous terms that every cryptan uses. Your task: write your guess about what word was hidden!
To simplify this puzzle, we are ready to give you a hint:
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The main talking points:
βBitcoin is a miracle of human achievement;
β Bitcoin will one day surpass gold in capitalization, and the US should become the crypto capital of the planet;
β Trump stated that bitcoin and cryptocurrencies will take off "like never before" under his administration
β If we don't take action on Bitcoin, China will;
β The U.S. will become the cryptocurrency capital of the planet and the world's Bitcoin superpower;
β On day one, if he becomes president, promised to fire Gary Gensler and appoint a new SEC chairman;
β Bitcoin is not a threat to the dollar, we will issue lots of USD-linked stablecoins, billions of people will have access to them..;
β "As long as I'm president, there will never be a CBDC."
β Stated that he will create a Presidential Advisory Council on Bitcoin and cryptocurrencies once he takes office;
β If he is elected president - "Bitcoin and cryptocurrency will skyrocket like never before"
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