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We post daily the best Bitcoin, Cryptocurrency & Blockchain News. Admin: @LevoBNTG
💰 Peter Brandt Anticipates Bullish Move for Bitcoin, Says 'Bears Are Trapped'
Veteran trader Peter Brandt’s recent bitcoin analysis suggests a bullish momentum, noting that a bear trap is confirmed by the July 13 close. However, this outlook is contingent on bitcoin staying above $56,000. Brandt recently predicted a potential BTC peak at $150,000 by late 2025.
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💰 Bitcoin ETFs log over $300 million in net inflows to reach record level following six-day streak
Following a six-day streak of positive net inflows that began on July 5, U.S.-based spot bitcoin exchange-traded funds have set a new record for cumulative total net inflows: $15.81 billion, according to SoSoValue data. The funds have added over $1 billion in assets under management since the beginning of the six-day streak. Friday, the latest trading day, was also the most successful day for net inflows since June 5, with spot bitcoin ETFs logging $310 million in net inflows.
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💰 Marathon Digital Bitcoin Mine Manager Acquitted of Noise Violations In Texas
David Fischer, who serves as a plant manager for a Bitcoin mine owned by Marathon Digital, a public Bitcoin mining company, has been acquitted of having responsibility for several noise complaints brought by citizens living nearby. The operation, located in Texas, is one of the least remote mines managed by the company.
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🇩🇪 German Government Is Now out of 💰 Bitcoin, Arkham Data Shows
The German government has sold its entire bitcoin holdings, according to data from crypto intelligence firm Arkham. “The German government is now out of bitcoin,” the firm wrote. This divestment began in June, with funds transferred to exchanges and institutional services.
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💰 Bitcoin miner Iris Energy's stock plummets after short seller calls company a 'Prius at the Grand Prix'
Iris Energy’s stock plunged nearly 20% in midday trading Thursday after activist short seller Culper Research published a short report on the bitcoin miner’s stock. The short-seller analogized the company as looking “to win the Monaco Grand Prix, but just arrived to the track in a Toyota Prius.”. “IREN talks a big game of its HPC plans, but ultimately seems entirely disinterested in actually doing what it takes to compete in the space,” Culper analysts wrote in the report.
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💰 Donald Trump to speak at Bitcoin 2024 conference in Nashville later this month: organizer
Former U.S. President Donald Trump was announced as one of the speakers at the Bitcoin 2024 conference in Nashville, Tennessee. The event, which is one of the world's largest bitcoin conferences, takes place from July 25 to 27. Over the past few months, the presumptive Republican Party presidential nominee has expressed strong support for the cryptocurrency and blockchain industry.
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💰 US Spot Bitcoin ETFs See Second Day of Inflows, Amassing $294.9 Million
Spot bitcoin ETFs in the U.S. experienced another day of gains on Monday, capturing $294.9 million in inflows during the trading session. These inflows follow the $143 million accumulated on Friday, July 5. Blackrock’s Bitcoin Trust (IBIT) led the pack, attracting $187.21 million in inflows. This boost brings IBIT’s reserves to 310,470.32 BTC, valued at $17.83 billion, according to sosovalue.xyz stats.
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💰 Bitcoin’s price drop created $441 million buying frenzy for crypto investment products
Bitcoin’s recent price struggles presented investors with “buying opportunities,” resulting in the inflow of $441 million into crypto-related investment products, according to CoinShares‘ latest report. James Butterfill, the head of research at CoinShares, explained that digital assets experienced heavy volatility last week due to selling pressures from the German government and news of defunct Mt. Gox’s repayments.
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💰 Robert Kiyosaki Predicts $10 Million Bitcoin and $15,000 Gold After Major Market Crash
Rich Dad Poor Dad author Robert Kiyosaki predicts an imminent economic crash followed by a significant bull market where bitcoin could easily reach $10 million per coin, gold could reach $15,000 an ounce, and silver possibly $110 an ounce. Kiyosaki suggests this cycle is inevitable due to declining trust in fiat currencies and historical precedents.
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💰 Bitcoin suffers fifth largest realized loss since FTX collapse amid Mt. Gox panic
Bitcoin’s recent price dip to around $54,000 has triggered one of the largest realized losses since the FTX collapse, specifically the fifth biggest realized loss since. This significant sell-off is primarily attributed to panic selling spurred by news related to Mt. Gox. On July 5, within a one-hour resolution, Bitcoin’s aggregated realized loss soared to $814 million. $587 million of these losses were incurred by short-term holders who had held Bitcoin for one to three months.
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💰 Bitcoin tumbles as whale sells 3,500 BTC, $310 million liquidated in 24 hours
According to CryptoSlate’s data, Bitcoin’s price has dropped approximately 6% in the past 24 hours, breaking the $58,000 mark to fall to as low as $56,900. Market observers warned that if the heavy selling action continues, this decline could be a precursor to a decline in the flagship digital asset’s price to the low $50,000s. Earlier today, blockchain analyst Lookonchain identified a whale that sold 3,500 BTC for $206 million in five hours through the Binance exchange.
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💰 Bitcoin correlation to S&P 500 goes negative indicating potential bottom
Bitcoin (BTC) has often mirrored the S&P 500 (SPX), with periods of positive correlation in the past five years, notably during the COVID-19 pandemic in 2020 and 2021, where both assets traded nearly 1:1. This trend continued towards the end of 2021 and throughout 2022, as both BTC and the SPX declined in tandem. In the first quarter of 2024, both Bitcoin BTC and SPX experienced significant gains.
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💰 Standard Chartered forecasts bitcoin could hit all-time high in August
Bitcoin's price could hit a new all-time high in August, followed by an increase to $100,000 by the time of the U.S. presidential election in November, according to Standard Chartered. On Tuesday, Standard Chartered Bank's head of forex and digital assets research Geoffrey Kendrick, said, "a fresh all-time for bitcoin in August is likely, then $100,000 by U.S. election day."
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💰 Bitcoin set for ‘bullish July’ after June slump, analysts predict
Several market analysts expect Bitcoin to rebound strongly in July after declining by around 7% in June. Last month, BTC faced heavy selling pressure from capitulating Bitcoin miners, who offloaded around $2 billion worth of their holdings due to falling revenue. The consistent selling activities of governments, including those of the United States and Germany, created additional selling pressure.
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💰 Central Bank of Bolivia Unbans Bitcoin From the Nation's Financial Ecosystem
The Central Bank of Bolivia has lifted a blanket ban on using bitcoin and other cryptocurrencies in the national financial system, opening the doors for integrating exchanges and other crypto service providers into its economy. The institution derogated a 2020 resolution prohibiting financial institutions from facilitating crypto-related payments.
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💰 Dormant 2012 Bitcoin Wallet Awakens, Moves a Notable 1,000 BTC Worth $60 Million
An old BTC wallet established on Sept. 25, 2012, moved 1,000 BTC at block height 852,190, as discovered by btcparser.com. This activation coincided with BTC reaching the $60,000 range for the first time in nearly two weeks. The 1,000 BTC, worth slightly over $60 million, remained untouched for 11 years and nine months. On the day the BTC was acquired, it traded at $12.10 per coin.
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💰 Robert Kiyosaki Renews Bitcoin Buy Recommendation, Citing Wall Street Loading Up on BTC
Rich Dad Poor Dad author Robert Kiyosaki has renewed his bitcoin buy recommendation, noting that Wall Street is loading up on the cryptocurrency. He urged investors to seize opportunities amidst challenging circumstances. The famous author recently predicted that bitcoin could soar to an astounding $10 million following an economic crash.
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💰 Bitcoin miner Bitfarms sets vote date on Riot's attempted takeover step
Bitcoin miner Bitfarms has set Oct. 29, 2024, as the date for a special meeting of its shareholders to vote on reconstituting its board of directors following Riot Platforms’ requisition for the meeting on June 24. Bitfarms shareholders as of the record date of Sept. 26, 2024, are entitled to vote at the meeting, the firm said in a statement on Friday, but are not required to take any action at this time.
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💰 Malaysian crypto miners stole $722 million worth of power: energy official
Cryptocurrency miners in Malaysia stole at least RM3.4 billion ($722 million) worth of power between 2018 and 2023, the country’s energy official said. Akmal Nasrullah Mohd Nasir, deputy energy transition and water transformation minister, said on Wednesday that the illegal crypto mining activities have become more widespread, local news website Malay Mail reported.
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💰 US national debt equates to 614 million Bitcoin at current prices
According to an infographic from Jeff Park, head of alpha strategies at Bitwise, Bitcoin ETFs have accumulated a staggering 247,018 Bitcoin since their launch. This is roughly double the 124,212 Bitcoin produced by miners since Jan. 11, the ETF launch date. This significant purchasing activity highlights the growing demand for Bitcoin amid a supply constraint exacerbated by the April halving, which cut the daily Bitcoin issuance from approximately 900 to 450 BTC.
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💰 German Government Liquidates $741M in Bitcoin Holdings
Ten hours ago, the German government’s bitcoin wallets transferred 1,205 BTC to various parties. At 7:40 a.m. EDT, the wallets held approximately 38,621 BTC, but by 4:30 p.m., the government’s bitcoin holdings had dropped to 26,686 BTC after divesting an additional 11,935 BTC. Currently, the government’s bitcoin wallet is valued at approximately $1.5 billion in U.S. dollars.
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💰 Bitcoin Network Sees Second Largest Difficulty Reduction of 2024
Bitcoin’s mining difficulty dropped by 5% this week at block height 850,752 on July 4. This reduction, the second-largest this year, follows a 5.62% drop that occurred on May 9 at block height 842,688. Both significant decreases came after the fourth halving event at block height 840,000. Despite hashprice levels hitting unprecedented lows, the hashrate remains at 582.33 exahash per second (EH/s).
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💰 Bit Digital, Iris Energy report declining Bitcoin output, rise in hash rate YoY
Bit Digital and Iris Energy reported June Bitcoin (BTC) mining results on July 5, posting one-year hash rate increases alongside reduced BTC output since April. Bit Digital reported a hash rate of 2.57 exahashes per second (EH/s) as of June 30, up from 2.54 EH/s in May and 1.78 EH/s in June 2023. The firm produced 61.7 BTC in June, down 2.5% from May. In earlier reports, the company said it produced 63.3 BTC in May and 119.3 BTC in April.
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💰 German Government Still Holds Over 40K Bitcoins After Recent Sale, Onchain Data Shows
The German government has been selling seized bitcoin but still holds more than 40K BTC, worth over $2.3 billion, according to onchain data from blockchain intelligence firm Arkham. These sales are occurring alongside the anticipated Mt. Gox bitcoin distributions. In response to Germany’s BTC liquidation, Tron founder Justin Sun has offered to purchase the remaining bitcoin off-market from the German government to minimize any price impact on the cryptocurrency.
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💰 Bitcoin Bottom Is Near as Miners Capitulating Near FTX Implosion Level: CryptoQuant
Bitcoin (BTC) miners are showing signs of capitulation, an event that is typically tied to a market bottom after the world's largest cryptocurrency endured a 13% plight over the past 30 days. Bitcoin is currently trading at $60,300 after sliding by 3% on Wednesday. This level has acted as a critical support since April, with bitcoin bouncing three times from this region before heading back towards the $70,000 mark.
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💰 CleanSpark mines 445 BTC in June, exceeds 20 EH/s target with Georgia expansion
CleanSpark mined 445 Bitcoin (BTC) in June and grew its hash rate above 20 EH/s on the back of its recent expansion in Georgia. The mining firm’s June performance results, published On July 2, also described an average daily output of 14.83 BTC and a one-day high of 22.41 BTC. CleanSpark recorded an average daily hash rate of 17.85 EH/s during June, and its current hash rate is 20.4 EH/s — surpassing its mid-year target of 20 EH/s.
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💰 Bitfarms reports 21% increase in Bitcoin production amid upgrades and takeover drama
Bitcoin miner Bitfarms reported an increase in Bitcoin production for June following an overall capacity upgrade. According to its latest monthly production report, Bitfarms’s BTC production rose 21% month-on-month to 189 BTC in June, up from the 156 BTC it produced in May. The miner stated that its production was impacted by the curtailment in Argentina and the downtime associated with upgrading its miners in Quebec. However, this was partially offset by a 0.8% decrease in network difficulty compared to May.
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💰 Bitcoin sees all-time-low weekend trading levels following ETF approvals: Kaiko
Bitcoin's reputation, at least in the mainstream, is nearly synonymous with volatility. However, the cryptocurrency's once-wild weekends may be a thing of the past, as in 2024, trading volume on weekends has sunk to its lowest level in bitcoin's history. While in 2019 up to 28% of bitcoin trading volume took place on the weekends, this past year that number has been only 16%, according to a new report from cryptocurrency research firm Kaiko.
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💰 Bitcoin’s price won’t ‘dramatically’ increase from here, says billionaire
Former PayPal CEO Peter Thiel has raised doubts that Bitcoin’s future price can increase “dramatically” from current price levels. The billionaire — who still owns “some” Bitcoin but not as much as he “should have” — isn’t sure where the next batch of buyers will come from now that Bitcoin has had its “ETF edition.” “I'm not sure it's going to go up that dramatically from here. We got the ETF edition and I don't know who else buys it,” Thiel, a founder at the Founders Fund told CNBC on June 28.
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