The speculation index, which measures the percentage of alternative cryptocurrencies (altcoins) with 90-day returns greater than bitcoin, has stabilized below 10%, down significantly from the January high of nearly 60%. Bitcoin, the leading cryptocurrency by market, hit new record highs above $70,000 in the first quarter and has since cooled to $58,000. Original
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…
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%…
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
Binance Research revealed a report on the cryptocurrency market for June 2024. According to the latest research, market capitalization declined by 11.4% over the month. However, this trend is typical for June — over the past five years, the crypto market closed June with a positive indicator only twice. Source: Binance Research In addition, nine out of ten assets by market capitalization ended the month in the red. According to experts, this decline was caused by news about payments to Mt. Gox and the U.S. and German governments’ movement of…
Bitcoin has experienced its steepest decline in the current cycle, trading over 26% below its all-time high (ATH), according to onchain analysis firm Glassnode. This contraction has significantly affected short-term holders, with over 2.8 million BTC now below their acquisition price. Bitcoin Market Faces Significant Drawdown, Glassnode Reports Despite the notable downturn, Glassnode’s latest analysis […] Original
“Our hope is that the combined effect of these allows us to create a product where we have the benefit of being in crypto, participating in the growth of the asset class, as well as minimizing volatility through better liquidity and offering steady, stable returns,” Platts said in an interview. Source
On July 12, the asset management firm, Digitalx, is set to launch a bitcoin exchange-traded fund (ETF) on an ASX operated stock market. Asset managers K2 Asset Management and 3iQ played a role in establishing what will be the second ETF approved by ASX. Digitalx Set to Debut Australia’s Second Bitcoin ETF Digitalx, a digital […] Original
Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration…
On July 9, 2024, a dormant bitcoin wallet transferred 149 BTC at block height 851,440 while bitcoin (BTC) was trading just below $58,000. The wallet, created on Nov. 20, 2013, had remained inactive for over ten years and seven months. At that time, bitcoin was valued at $644 per coin, making the entire cache worth […] Original