Day: July 7, 2024

Germany transfers about $40m in Bitcoin amid ongoing selloff

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The German government has transferred 700 Bitcoins (BTC), valued at approximately $40.47 million. This transaction is part of an ongoing trend: the government has consistently sold its Bitcoin holdings since June. Germany’s Bitcoin liquidation continues  According to blockchain data analytics platform Lookonchain, the German government has transferred a fresh 700 BTC to crypto exchanges.  The country’s latest transaction has attracted mixed reactions across crypto Twitter, with some forecasting that the Bitcoin price could crash to the $40k region soon.  German authorities have been actively selling their Bitcoin holdings, adding significant…

Aims To Reclaim $0.50 After Plunge

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The XRP community is abuzz with excitement after a whale, a major investor, acquired a hefty 30 million XRP tokens. This significant purchase coincided with a price uptick for the altcoin, which clawed its way back from a recent slump. While some analysts see this whale activity as a bullish signal and predict a surge towards $0.50, others urge caution due to the ongoing SEC lawsuit against Ripple Labs. Related Reading A Shot In The Arm For XRP The 30 million purchase, valued at roughly $12.7 million, sent a wave…

Bitcoin hits 5-month low, Mt. Gox begins repayments, Circle secures MiCA license

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Today’s edition of the weekly recap: Bitcoin (BTC) drops to a five-month low amid a series of whale selloffs; Mt. Gox begins creditor repayments; and Circle secures first stablecoin license under MiCA as regulatory efforts mount. Market downtrend Following a bearish June, reports from July 1 suggested that Bitcoin could be poised for recovery in July. This was based on historical performance and a good start to the month.  However, Bitcoin’s run came to a halt when it reached a one-week high of $63,861 on July 1. Bitfinex analysts confirmed…

Sleeping BTC Wallets Reactivate, Bitcoin Dips, and More — Week in Review

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Several longtime holders of Bitcoin have reactivated dormant wallets, moving substantial amounts of BTC after years of inactivity. Bitcoin’s price dipped to $56,952 amid speculation related to the Mt Gox distribution and the German government’s transfer of 3,000 BTC. Standard Chartered forecasts Bitcoin hitting $100,000 by November, with a potential boost from a Trump election […] Original

$2.4 Billion Worth Of Bitcoin Exit The Network As Bear Market Bites

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The Bitcoin market is experiencing a wave of uncertainty as a recent analysis by CryptoQuant reveals a significant shift in investor behavior. Roughly $2.4 billion worth of Bitcoin, likely acquired by investors this year, has moved within the network, sparking debate about the reasons behind the exodus. Related Reading Short-Term Jitters Drive Sell-Off Experts believe these outflows are driven by short-term investors who made a foray into the market in early 2023. Back then, anticipation surrounding Bitcoin Exchange-Traded Funds (ETFs) and the mining reward halving – an event expected to…

Canadian Regulator Probe Determines That Liquitrade Operates an Illegal Crypto Exchange

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The British Columbia Securities Commission (BCSC) said its investigation into Liquitrade’s crypto asset trading platform found that the company operated an illegal exchange. The probe also determined that users were trading contractual rights, not crypto assets, as the platform had claimed. Latoken Users Trading Derivatives, Not Crypto Assets On July 3, the British Columbia Securities […] Source

Analyst Hints Bitcoin Price Recovery Might Be Underway — Here’s Why

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Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking”…

Bitcoin Critic Calls ‘Institutional Demand’ A Myth Following Recent Price Slump

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…