Bitcoin tried but failed at $65,000 on several occasions in the past week, and there are now multiple and different signals suggesting that another leg down is on the cards. From war escalation to ETF withdrawals, let’s dive in. Macro Factors Let’s start with the Wednesday developments on US soil when the central bank decided […]
Bitcoin’s on-chain structure is beginning to resemble the 2022-2023 bear market bottom, but analysts say one important ingredient is still missing before a meaningful recovery can begin. According to on-chain analyst Axel Adler Jr., Bitcoin is steadily moving out of speculative hands and into long-term holders, reducing the amount of actively traded supply. However, demand […]
Strategy is exploring a capital management framework that may permit the sale of up to $5 billion in Bitcoin. This initiative aims to support $1.25 billion in USD reserves, alongside funding for dividends and buybacks. The implications of this strategy could significantly influence Bitcoin’s market dynamics as it may affect supply and overall investor sentiment, […]
VanEck’s Bitcoin ETF ends its zero-sponsor-fee period today, July 31, with $1.076 billion in net assets, equal to 43.0% of the waiver’s $2.5 billion asset threshold. The VanEck Bitcoin ETF, which trades as HODL, reported the asset figure as of July 30. It was about $1.424 billion below the threshold, meaning HODL remained fully covered […]
Jack Mallers, the CEO of Strike, recently tweeted support for Bitcoin integration, stating, ‘@sndbtc @Strike Yes’. This endorsement underscores the company’s commitment to Bitcoin’s role in the evolving financial landscape. As crypto continues to gain traction, such endorsements may influence market sentiment and institutional interest in Bitcoin. Breaking It Down In a recent tweet, Jack […]
Bitcoin is pressing into a decisive resistance cluster near $65,000, where a 78.6% Fibonacci retracement and a descending trendline could determine the next short-term move. Improving spot and perpetual-futures demand supports a potential advance toward $67,000 to $68,000, but another rejection could expose support between $62,000 and $63,000. Bitcoin Tests a Critical 78.6% Retracement Below […]
Starting on July 30, one cryptocurrency trader managed a maneuver many involved with digital assets hope they’ll execute during their careers by multiplying an $875 investment into roughly $797,000 in profit. Specifically, an anonymous actor identified as 0xd2abcef40a51c779c2a890dd40f041ab995ed3af on DeBank began purchasing MarsCoin (MARSCOIN) – not to be confused with Marscoin (MARS) – on the […]
Bitcoin has evolved from a narrative-driven digital asset into a standardized financial instrument that now serves as a leading indicator of global market liquidity, according to Hong Kong-listed crypto firm Xinhua Group. The company’s chief analyst, Fu Peng, shared this view at a recent private seminar, highlighting Bitcoin’s growing role in reflecting broader financial conditions. […]
As the Democrats and critics of the CLARITY Act – a United States bill that would create clear rules for the cryptocurrency industry – accuse President Donald Trump of crypto corruption, Wyoming Senator Cynthia Lummis has emphasized that legislation already contains unmatched ethics standards. In an X post on July 31, Senator Lummis stated that […]