The Bitcoin (BTC) accumulation phase seems to have started as the BTC price wanders below the $60,000 mark for a week. According to data provided by Glassnode, the BTC accumulation trend surged from 0.05 on June 1 to 0.44 as of July 10. This level hasn’t been seen since April 11, when the flagship cryptocurrency traded for $70,000. BTC price and accumulation trend score – July 11 | Source: Glassnode The indicator started to rise while the German government was offloading its BTC holdings over the past week, causing a…
Day: July 11, 2024
Crypto market sentiment divided two months after Bitcoin halving, data shows
Bitcoin’s post-halving pullback appears to have divided the crypto community, with investors seen as the most bullish group at the moment. Cryptocurrency investors, developers, speculators, and traders seem to be divided with their views on the current market state with “no strong consensus sentiment” prevailing right now, crypto prices aggregator CoinGecko says. In a survey conducted from mid-June to July 8, involving 2,558 participants, CoinGecko assessed market sentiment. The largest group of respondents (26.1%) described themselves as “somewhat bullish,” while the smallest group (11.8%) identified as strongly bearish. Overall, nearly…
Bitget Ranks Third among Crypto Exchanges for Capital Inflows in Q2
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Staked Ether Close to All-Time High as ETF Approval Nears
Polymarket bettors give a 90% chance that ether ETFs get approved by July 26. Source
90% Chance Bitcoin Hits New High By March 2025: Economist
In a forecast issued via X on Friday, Timothy Peterson, a respected network economist and prominent author in the field of crypto analytics, predicted a near-certain rise of the Bitcoin price in the upcoming 8 months. “There’s a 90% chance Bitcoin will reach a new ATH before March 2025,” Peterson proclaimed. Peterson, known for his works including “Metcalfe’s Law as a Model for Bitcoin’s Value,” bases his forecast on the analytical framework detailed in his research paper titled “Lowest Price Forward: Why Bitcoin’s Price is Never Looking Back.” This paper,…
Crypto market falls ahead of the US CPI data release
The cryptocurrency market faced correction, with leading assets declining, ahead of the release of the U.S. inflation data. The U.S. Consumer Price Index (CPI) report for June this year is expected to be released today at 08:30 ET (12:30 UTC). According to Investing.com analyst Jesse Cohen, the majority of the U.S. banks and investment firms expect a soft decrease in the country’s inflation rate — between 3% and 3.2%. 🇺🇸🇺🇸 US JUNE CPI INFLATION ESTIMATES •TD BANK: 3.0%•SCOTIABANK: 3.0% •JP MORGAN: 3.1%•WELLS FARGO: 3.1%•CITI: 3.1%•BARCLAYS: 3.1%•BNP PARIBAS: 3.1%•NOMURA: 3.1%•https://t.co/LOppBTC8mR: 3.1%…
Bitcoin Waits for Guidance From U.S. Inflation Data, Bond Market
The data due at 12:30 UTC (8:30 ET) is expected to show the cost of living in the world’s largest economy rose 0.1% month over month in June after remaining flat in May, leading to a 3.1% rise year over year, according to economists surveyed by Dow Jones. The core CPI, which strips out more volatile food and energy prices, is forecast to have increased 0.2% from May and 3.4% since June last year. Source
Long Bitcoin and Short Bitcoin Cash to Benefit From Mt. Gox Repayments: Trader
Both assets are being distributed in an ongoing process to creditors of the defunct Mt. Gox crypto exchange. Here’s how some traders are playing it out. Original
Jump Trading Drags FTX Estate to Court Over $264M Serum Token Loan
Jump Trading’s Tai Mo Shan subsidiary is seeking nearly $264 million in damages over a failed delivery of SRM tokens – more than the protocol’s current market cap. Source
Los Angeles Sparks Extend Partnership With Crypto.com Arena Until 2029
The Los Angeles Sparks, one of the most successful teams in the Women’s National Basketball Association (WNBA), have signed a five-year extension with Anschutz Entertainment Group (AEG) to continue playing at Crypto.com Arena until 2029. This agreement extends a long-standing partnership between the Sparks and the downtown Los Angeles venue, where the team has played […] Source CryptoX Portal