The government of Germany began readying for its biggest Bitcoin dump yet on Monday, sending $900 million worth of the digital currency to trading venues. On-chain data from Arkham Intelligence shows that over 16,000 BTC left the exchange’s wallet on July 8, leaving 23,787.7 BTC ($1.35 billion) remaining in its coffers. Germany’s Biggest Bitcoin Sale...Read More
Following an intense bearish week, the BTC price struggles to sustain dominance at critical support levels. Dropping under the $56K level this Monday, the selloff rally is gaining momentum. With institutions adding to the retail FUD rally, the broader market sentiment is fearful. However, some hope of a bullish reversal chances are starting to light...Read More
German Member of Parliament and Bitcoin advocate Joana Cotar has called on the government to halt its rapid Bitcoin sell-offs. Cotar argued that it is neither “sensible” nor “productive” and believes that Bitcoin should be adopted as a strategic reserve currency to safeguard against economic instability. Joana Cotar Criticizes German Bitcoin Sell-Offs In a July...Read More
The defunct cryptocurrency exchange Mt Gox has finally commenced creditor repayments ten years after filing for bankruptcy. According to an announcement from the Mt Gox Rehabilitation Trustee, the defunct estate distributed bitcoin (BTC) and Bitcoin Cash (BCH) payments to some creditors on July 5 through designated crypto exchanges linked with the repayment plan. Mt Gox...Read More
Justin Sun is back with another ambitious proposition. The Tron Founder has now set his sights on the German government’s BTC stash, boldly offering to buy it all off-market to “minimize the impact on the market.” It all started with the German government-labeled wallet’s suspicious transfer of 6,500 BTC on June 19, worth more than...Read More
On July 4, blockchain security platform PeckShield reported that wallets linked to the German government were moving BTC. Around 1,300 coins worth roughly $75 million were transferred from these associated wallets to centralized exchanges Coinbase, Kraken, and Bitstamp, it noted. It is not the first transfer this week; on July 2, the wallet associated with...Read More
The bearish hold over the crypto markets is intensifying as the Bitcoin price continues to crash below $58,000. The growing uncertainties over the token have not only made the retail traders vigilant but also the bigger players like institutions, whales, and dormant addresses. A similar trend has been witnessed in the past 24 hours, which...Read More
With Bitcoin trading sideways over the past few months, traders are waiting for their signal to re-enter the market before crypto reclaims its bullish momentum from earlier this year. In a Wednesday memo, an analyst from CryptoQuant highlighted one signal worth looking at: stablecoin liquidity. Stablecoins: The Key To Driving Bitcoin Higher “The bottom line...Read More
Historical economic trends suggest Bitcoin is fated for another massive leg up this market cycle, according to BitMEX co-founder Arthur Hayes. While Bitcoin has traded mostly flat over the past several months, Hayes says he’s confident that the leading crypto asset will “regain its mojo” thanks to the overwhelming U.S. government spending and money printing...Read More
Over the last few weeks, bitcoin (BTC) has failed to benefit from a favorable macroeconomic climate that has triggered significant rallies in equities. Analysts attribute this to supply overhang stemming from prolonged selling by BTC investors and miners. However, the tide may soon change as selling pressure from Bitcoin miners is decreasing. According to the...Read More
Bitcoin and Ethereum have emerged as the most profitable assets in the first half of 2024. The cryptocurrencies have outperformed various traditional investments, including the Nasdaq, S&P 500, oil, gold, the U.S. dollar, and government bonds. Bitcoin and Ethereum Lead Asset Classes in 2024 According to a July 1 X post by Matrixport, “2024 is...Read More
Digital asset investment products experienced their third consecutive week of outflows amounting to $30 million, although last week showed a significant decrease. While outflows for Ethereum continued, investor sentiment surrounding Bitcoin appears to be slowly changing. According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly report, most providers recorded minor inflows, but...Read More
Analysts at market intelligence platform CryptoQuant have outlined on-chain metrics that could signal that the bitcoin (BTC) price has bottomed and cryptocurrencies are beginning to rally again. The latest weekly CryptoQuant report mentioned signals like higher bullish momentum, rising BTC demand, and faster stablecoin liquidity growth as the metrics to watch. Higher Bullish Momentum CryptoQuant’s...Read More
Free speech champions across the world celebrated earlier this week as Julian Assange – founder of WikiLeaks – was finally released from a UK prison after five years behind bars. During his more than decade-long legal battle to escape persecution from multiple national governments, Assange often leaned on crypto to drive global fundraising campaigns to...Read More
The highlight anticipated presidential debate between Donald Trump and Joe Biden did not feature any discussion about Bitcoin or crypto. This was notable given how much attention the industry has garnered this year. Despite this, experts believe that if Trump were re-elected, it could signal a shift toward more favorable regulatory conditions for the crypto...Read More
A close consolidation after a steep rise or drop has become the new normal for the Bitcoin (BTC) price rally. Following a similar trend, the token continues to accumulate within a range, suggesting a major move could be nearby; however, the direction of the rally could depend on the volume induced. This has raised the...Read More
Bitcoin sustained a more than 6% decline over the past week. The back-to-back corrections temporarily pushed the asset below $60,000. Although it has rebounded since then, its recovery appears to have stalled around $61,500, causing concern among investors about further losses. This is especially true as the US government transferred 3,940 BTC to Coinbase Prime...Read More
According to blockchain analytics platform Lookonchain, a Bitcoin wallet that had been inactive for 14 years has reemerged. The entity deposited 50 BTC worth around $3.05M to Binance. Early Bitcoin Miner Wallet Moves 50 BTC The dormant wallet, belonging to an early Bitcoin miner, sprang to life on Thursday, moving its entire balance of 50...Read More
The U.S. government has transferred $240 million worth of Bitcoin (BTC) to a Coinbase Prime address. According to Arkham Intelligence, the 3,940 BTC sent to Coinbase were originally forfeited from Silk Road vendor and narcotics dealer Banmeet Singh during his January trial. Seizures and Legal Actions In late 2021, the U.S. Department of Justice (DOJ)...Read More
Julian Assange’s Bitcoin wallet received $500,000 worth of Bitcoin from a mystery donor on Tuesday, on-chain data shows. The donation follows the whistleblower’s release from the United Kingdom’s high-security Belmarsh prison on Monday, after reaching a plea deal with U.S. authorities following five years behind bars. Bitcoin Brings Assange Home According to blockchain data, a...Read More
Stablecoins have witnessed significant growth this year. Among them, USDT remains a leader, but other ones, such as Circle-backed USDC, are also seeing considerable activity. As such, USDC’s recent deposits to centralized crypto exchanges could signal investors buying the dip amidst several market corrections in recent weeks. USDC Deposits Surge According to IntoTheBlock’s Head of...Read More
American entrepreneur and Rich Dad Poor Dad author Robert Kiyosaki has revealed that he made his first Bitcoin (BTC) purchase when the asset was worth $6,000 due to encouragement from former Goldman Sachs executive Raoul Pal. According to Kiyosaki, his first 30 BTC purchase has incurred substantial returns over the years; hence, he believes Pal’s...Read More
Bitcoin’s price took a steep tumble early this week, driving over $300 million in crypto market liquidations in a single day. Why the sudden volatility? Gayatri Choudhury, Quantitative Research Analyst at Bitwise, says there have been two key drivers of the selloff – and neither relates to the Bitcoin ETFs. Miners Are Dumping The analyst...Read More
A popular Republican congressman introduced legislation that would require the United States Treasury to accept tax payments in bitcoin. Pay Taxes With Bitcoin The bill, authored by Rep. Matt Gaetz (R-Florida), would order the Treasury Secretary to “develop and implement a method to allow for the payment with bitcoin of any tax imposed on an...Read More
The Crypto Fear and Greed Index, which measures market sentiment for Bitcoin and the broader cryptocurrency industry, has tanked to its lowest score in nearly 18 months. This development follows bitcoin’s drop below $60,000, reaching its lowest point since early May. Crypto Fear & Greed Index Plummets The index fell 21 points on June 24,...Read More
Bitcoin (BTC) has continued its downtrend, reaching new local lows of under $59,000. During the mid-hours of the United States Monday trading session, BTC briefly fell below $60,000 to register a new local low of $58,500. This slump has persisted as outflows from the U.S. spot Bitcoin exchange-traded fund (ETF) market have continued into the...Read More
Michael Saylor, the executive chairman and co-founder of MicroStrategy, has predicted that Bitcoin will reach $10 million per coin. Saylor made this prediction during a podcast with Robin Seyr, further claiming that China will become a strong supporter of the cryptocurrency. Chinese Adoption and Economics Saylor, who is known for being among the most vocal...Read More
Famous investor and author Robert Kiyosaki said on Monday that he was eagerly waiting to buy more Bitcoin after the asset’s price fell to $61,000 to start the day. But The Bitcoin Dip, Says Robert Kiyosaki The man behind the best-selling finance book Rich Dad Poor Dad asserted that selling in times of market turmoil...Read More
Metaplanet Inc., a Japanese investment firm, announced on Monday that its board of directors decided to purchase Bitcoin worth about $6.26 million (1 billion Yen) using capital raised through a round of bond issuance. This announcement caused a sharp spike of 12% in the price of Metaplanet’s stock, indicating community approvals of these purchases. More...Read More
Digital asset investment products experienced a second consecutive week of outflows shedding $1.2 billion which amounted to $584 million. According to CoinShares, this could potentially be a result of the pessimism amongst investors regarding potential Fed interest rate cuts this year. Altcoins See Inflows Amid Market Weakness Bitcoin bore the brunt and remained the primary...Read More
