all posts Bitcoin & Crypto Trading

💰 Maryland Police Warn Gmail Users of Phishing Scam Demanding Bitcoin Maryland State Police have warned of a scam targeting Gmail users, using phishing tactics to extort money through unsettling threats. Scammers are sending victims emails with Google Maps photos of their homes and demanding bitcoin payments, falsely claiming they possess incriminating evidence. The police are investigating, urging caution and providing resources for reporting these incidents. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin set for rally after Federal Reserve rate cut, Standard Chartered says Bitcoin and the broader digital asset market are poised for a sustained boost following the U.S. Federal Reserve’s recent decision to cut interest rates by 50 basis points, according to Standard Chartered's Geoff Kendrick. The bank's head of forex and digital assets research suggested that macroeconomic factors will drive digital asset prices higher, irrespective of the outcome of the upcoming U.S. presidential election in November. Source @Bitcoin_Blockchain_Trading

💰 BlackRock calls Bitcoin a ‘unique diversifier’ in document sent to clients Asset manager BlackRock sent a 9-page document to its clients on Sept. 18 that portrays Bitcoin (BTC) as a “unique diversifier” for portfolios. The document highlighted the characteristics that make Bitcoin distinct from traditional asset classes on any long-term basis and suggested a “modest allocation.” Source @Bitcoin_Blockchain_Trading

🔥 BREAKING: 🇺🇸 Federal Reserve cuts interest rates by 50bps for the first time in 4 years. 🤝 @Cryptocurrency_Inside ✅

💰 Massive Bitcoin Rally Predicted For Next 6 Months After Fed Rate Cut According to CME Group’s FedWatch tool, markets are currently pricing in a 59% chance of a half-percentage-point rate cut and a 41% chance of a quarter-point cut. There’s an overwhelming expectation that by the end of 2024, the Fed could implement up to 100 basis points in cuts, with nearly 60% odds of 125 basis points. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin exchange reserves drop to 2018 levels The number of Bitcoin held on exchanges significantly declined in September, dropping to levels last seen in mid-November 2018. Since the beginning of the month, Bitcoin exchange reserves have dropped from approximately 2.62 million BTC to 2.58 million BTC. This decline of nearly 38,000 BTC in just over two weeks follows a continued trend of Bitcoin flowing out of exchanges at an accelerated pace. Source @Bitcoin_Blockchain_Trading

💰 92% of Bitcoin exchange inflows come from short-term holders In the past month, the majority of Bitcoin exchange inflows have come from short-term holders, based on CryptoQuant data. According to the data, addresses that held BTC for less than three months made up over 92% of the total exchange inflows on Sep. 12. Over 83% of exchange inflows came from coins held for less than a week. Source @Bitcoin_Blockchain_Trading

💰 Standard Chartered: Bitcoin Could Hit $125K Under Trump, $75K Under Harris Standard Chartered has reaffirmed its projection that bitcoin will hit new all-time highs by the end of 2024, regardless of the U.S. election outcome. The bank’s digital assets head predicts bitcoin could reach $125,000 under Trump or $75,000 under Harris, with temporary drops under a Harris presidency. Regulatory concerns loom, but other factors, like U.S. Treasury curve movements, provide a positive outlook. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin mining CEOs agree on $250k price target for 2028 halving Bitcoin mining executives from top firms gathered at the HC Wainwright Bitcoin Mining Panel on Sept. 10 to discuss industry trends, challenges, and the future of Bitcoin. The panel, moderated by Anthony Scaramucci of SkyBridge Capital, featured CEOs from prominent mining companies, including Bit Digital, Bitfarms, CleanSpark, Core Scientific, and Marathon Digital Holdings. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin mining difficulty hits record high of 92.67 trillion amid falling miner revenues Bitcoin mining difficulty climbed 3.6% on Sept. 11 to reach an all-time high of 92.67 trillion. CryptoQuant showed that the increase comes as miner profitability continues declining, further putting pressure on the firms struggling since April’s halving event. Bitcoin’s mining difficulty adjusts every two weeks after the completion of 2,016 blocks, designed to ensure stable block discovery times. Source @Bitcoin_Blockchain_Trading

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🥇 Bitwise CIO highlights rapid adoption of Bitcoin ETFs by advisors Bitwise Chief Information Officer (CIO) Matt Hougan asserted that investment advisors are adopting spot Bitcoin (BTC) exchange-traded funds (ETFs) faster than any other ETF launched in recent history. Hougan made the statement in response to a Sept. 8 social media post by researcher Jim Bianco, who claimed that less than 10% of US-traded spot Bitcoin ETFs AUM comes from investment advisors. He added that the ETFs are a “small tourist tool” instead of an adoption vehicle. Source @Bitcoin_Blockchain_Trading

💰 Unisat-backed Fractal Bitcoin goes live on mainnet, taps into BTC core code for scaling solution Fractal Bitcoin, a highly anticipated Bitcoin scaling solution backed by wallet provider Unisat, has launched its mainnet today, introducing a scaling solution that operates directly on the Bitcoin Core codebase. Fractal Bitcoin claims to be the only Bitcoin scaling solution that uses the core code itself. It aims to differentiate itself from other Bitcoin sidechains and purported Layer 2 solutions by focusing on Bitcoin-native constructs rather than Ethereum Virtual Machine (EVM) compatibility. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin’s Hashrate Reaches 692 EH/s, Nearing 700 EH/s Milestone After breaking the July 25, 2024 record on Saturday, Sept. 7, Bitcoin’s hashrate has kept climbing, now reaching an impressive 692.28 exahash per second (EH/s) on Sept. 8, which is more than 13 EH/s above the previous level. On Sunday, Sept. 8, 2024, Bitcoin’s total hashrate spiked to an impressive 692.28 EH/s, edging ever closer to the 700 EH/s milestone. This marks yet another all-time high for Bitcoin’s network this week. Source @Bitcoin_Blockchain_Trading

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💰 Bitcoin miners battle network difficulty and Texas heat in August production updates Bitcoin miners released their August production updates, revealing a mixed performance across the sector. Many companies reported strategic efforts to optimize their operations amid network challenges and the high demand for electricity, particularly in Texas, where many miners operate. As miners prepare for the challenges ahead, many are focusing on efficiency, cost control, and strategic investments, while managing the increased difficulty in the Bitcoin network. Source @Bitcoin_Blockchain_Trading

💰 US spot bitcoin ETFs saw $211 million in outflows, extending streak of negative flows Spot bitcoin exchange-traded funds in the U.S. saw $211.15 million in net outflows on Thursday, recording their seventh consecutive day of negative flows. Fidelity’s FBTC saw the largest amount of outflows among spot bitcoin ETFs, with $149.49 million, according to data from SoSoValue. Bitwise’s BITB followed with $30 million in net outflows. Both Grayscale’s GBTC and mini trust recorded outflows on Thursday. Source @Bitcoin_Blockchain_Trading

🪙 Ether has underperformed bitcoin by 44% since switch to proof-of-stake: CryptoQuant Ether has underperformed bitcoin by as much as 44% since the Ethereum blockchain's 'merge' to proof-of-stake almost two years ago, according to analysts. "Next week will mark two years since Ethereum switched to a proof-of-stake network, an upgrade known as The Merge. Since then, Ethereum has underperformed bitcoin by 44%," CryptoQuant analysts said. Source @Bitcoin_Blockchain_Trading

💰 Low exchange stablecoin ratio hints at strong Bitcoin demand The exchange stablecoin ratio is a critical barometer of market sentiment, reflecting the balance between stablecoins and Bitcoin held on exchanges. When this ratio plummets, it typically signals increased Bitcoin accumulation, suggesting traders are confident in a price surge. As we see Bitcoin testing the $60,000 resistance, the ratio just hit its lowest point this year. Source @Bitcoin_Blockchain_Trading

💰 Outlier Ventures says four-year cycle is dead after bitcoin's 'worst price performance following any halving to date' Web3 accelerator Outlier Ventures said it is time to accept that the four-year cycle is dead, with bitcoin experiencing its worst price performance post-halving so far this year. “Four months after the latest Bitcoin halving, we’re witnessing the worst price performance following any halving to date,” Outlier Ventures Head of Research Jasper De Maere wrote in a Tuesday report. Source @Bitcoin_Blockchain_Trading

🥇 21Shares launches wrapped Bitcoin 21BTC on Ethereum amid WBTC challenges According to a Sept. 3 statement, 21.co, the parent company of 21Shares, has introduced its Wrapped Bitcoin product (21BTC) on the Ethereum blockchain. The company stated that it was collaborating with Flow Traders, a leading global market maker, to launch a product that would give customers “peace of mind as they explore decentralized applications and new opportunities on the Ethereum blockchain.” Source @Bitcoin_Blockchain_Trading

💰 QCP Capital highlights ether's 'significant' underperformance compared to bitcoin in August QCP Capital analysts emphasized ether's significant underperformance relative to bitcoin in August and cautioned that September might bring additional declines. "Bitcoin ended August down 8.6%. We started the month with the 'Bank of Japan crash' and bitcoin was never able to recover above $65,000. Ethereum performance in August was significantly poorer, down 22.2% in August on the back of alleged selling by Jump Trading," QCP Capital analysts said. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin slides below $58,000 as crypto market sees weekend slump The crypto market experienced a slight downturn over the weekend. Bitcoin is currently trading at $57,500 as of 1:30 a.m. ET, marking a 1.5% drop in the past day and nearly a 10% drop over the past week. The largest cryptocurrency has a market cap of $1.1 trillion and maintains a 54% market dominance. Meanwhile, ether, the second-largest cryptocurrency, is changing hands at $2,440, reflecting a 1.7% decrease over the past day and an 11% decline over the past week. Source @Bitcoin_Blockchain_Trading

💰 Arthur Hayes Predicts Bitcoin Boom as Central Banks Cut Interest Rates Bitmex co-founder Arthur Hayes is optimistic about bitcoin’s future, citing recent interest rate cuts by central banks. He believes further rate cuts by the U.S. Federal Reserve, Bank of England, and European Central Bank could expand the money supply and drive inflation. Hayes argues that while inflation may negatively impact some businesses, it would benefit bitcoin due to its fixed supply and deflationary nature. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin’s Hash Price Is at All-Time Low The Bitcoin hash price, a metric measuring miner revenue per terahash or computing power, has fallen to its lowest level ever. According to recent data, this is a sign of upcoming bullish momentum. Woominkyu shared a chart highlighting the relationship between the price of bitcoin and the network’s hash price. The chart showed periods when a drop in hash price corresponded with BTC bottoms; hence, based on historical data, lower hash level periods have occurred simultaneously with BTC price bottoms. Source @Bitcoin_Blockchain_Trading

🌏 Asia leads in global crypto adoption due to progressive regulatory approach Singapore has emerged as the global leader in crypto adoption due to its progressive regulatory approach toward the industry, according to the Henley Crypto Adoption Index 2024. The report, published by investment migration consultancy Henley & Partners, highlighted the city-state’s robust regulatory environment, innovation in financial technology, and widespread public adoption as key factors propelling it to the top of the list. Source @Bitcoin_Blockchain_Trading

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💰 Bitcoin miner wallet balances continue to shrink Bitcoin miners’ wallet balances have been on a steady decline since 2011, with the trend continuing into 2024. The first chart illustrates a significant reduction from an all-time high of over 2.5 million BTC in late 2011 to under 2 million BTC by mid-2024. This decline has been influenced by miners liquidating assets to cover operational costs, especially during periods of market volatility and post-halving events. Source @Bitcoin_Blockchain_Trading

💰 Cipher Mining Boosts Bitcoin Data Center Portfolio With 300 MW Texas Site Purchase Cipher Mining Inc. revealed that it has acquired a sprawling 250-acre property in West Texas, which includes a 300-megawatt (MW) data center. The company also highlighted that this location is ideal for high-performance computing (HPC) services. Source @Bitcoin_Blockchain_Trading

💰 IREN posts record $184.1 million annual bitcoin mining revenue as capacity nearly doubles IREN, formerly Iris Energy, reported its financial results for the year ending June 30 on Wednesday — posting record bitcoin mining revenue as its self-mining capacity nearly doubled. IREN generated $184.1 million in bitcoin mining revenue for the 2024 fiscal year, up 144% from the $75.5 million the firm generated in the 2023 fiscal year, driven by hashrate growth and higher bitcoin prices. Source @Bitcoin_Blockchain_Trading

🟠 Binance CEO Calls Nigeria's Detention of Tigran Gambaryan Unjust Binance CEO Richard Teng has said that Tigran Gambaryan, a former U.S. federal agent working for Binance, has been unjustly detained in Nigeria for six months. Teng reiterated claims that Gambaryan’s physical and mental health has deteriorated significantly while in detention. The CEO criticized the Nigerian government’s justification for detaining Tigran as baseless. Source @Bitcoin_Blockchain_Trading

📱Telegram founder Pavel was indicted and placed on supervised release in France. He is required to pay a €5 million deposit and is prohibited from leaving France. ➡️ @Bitcoin_Insights

🌟 Join the #1 Crypto News Channel on Telegram: Cryptocurrency ↪ Inside! 🌟 Stay ahead with: - 📰 Real-Time Updates: Get the latest news instantly. - 🔗 In-Depth Analytics: Powerful blockchain insights. - 📅 Market Trends: Expert analysis and forecasts. Join our vibrant community and stay updated with our active Twitter feed. The only news source you need! 🔗 Join now: @Cryptocurrency_Inside #advertising

💰 Bitcoin options highlight bullish sentiment towards $90,000 by September Bitcoin, approximately $3.6 billion of notional value is set to expire, with a total open interest of 60,316 BTC. The put-to-call ratio stands at 0.61, indicating a somewhat bullish sentiment. Specifically, there is 37,477 BTC in call open interest compared to 22,839 BTC in put open interest, with the max pain price positioned at $61,000. This price level, close to Bitcoin’s current trading value of around $60,000, suggests that many traders are positioning for stability or a slight upward movement in the short term. Source @Bitcoin_Blockchain_Trading

💰 Bitwise Bitcoin ETF to acquire the assets from Osprey Bitcoin Trust Osprey Bitcoin Trust (OBTC) sponsor Osprey Funds has entered an agreement with the Bitwise Bitcoin ETF (BITB) and Bitwise Asset Management, in which BITB will acquire all of the OBTC fund's assets. The move comes after Osprey noted that it was considering a potential sale or merger with a bitcoin ETF amid other strategic maneuvers in March of this year. Osprey had until Sept. 1, 2024, to complete the sale or merger, or else it would have liquidated OBTC. Source @Bitcoin_Blockchain_Trading

🥇 Spot bitcoin ETFs see eighth day of inflows, led by BlackRock's $224 million Spot bitcoin exchange-traded funds in the U.S. saw $202.51 million in total daily net inflows on Monday, marking their eighth consecutive day of positive flows. The 12 bitcoin funds have drawn in $756 million over the past eight trading days. Monday’s largest net inflows came from BlackRock’s IBIT fund, totaling $224.06 million, its largest daily inflows since July 22, according to data from SoSoValue. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin likely to stay in tight trading range amid market uncertainty: QCP Capital Optimism for bitcoin has increased since Fed Chair Jerome Powell's Jackson Hole speech last Friday, but derivatives data indicates lingering market hesitation, according to analysts. "While the move higher in the bitcoin price has been decisive since Fed Chair Jerome Powell's speech, the [implied volatilities] are indicating hesitation in the market, as front-end vols have drifted lower," QCP Capital analysts said. They added that bitcoin is likely to continue trading within a tight range of $62,000 to $67,000 in the near term. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin sees $543 million in inflows after Powell’s dovish remarks According to CoinShares’ latest weekly fund flow report, crypto investment products saw their largest inflows in five weeks, with $533 million pouring into the sector. James Butterfill, head of research at CoinShares, explained that these inflows followed remarks by US Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium last week. Source @Bitcoin_Blockchain_Trading

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💰 Bitcoin’s Last Difficulty Drop Likely to Be Erased in 3 Days Bitcoin’s hashrate is on the rise once again, edging closer to the peak levels seen at the end of July. Despite a recent 4.19% dip in difficulty during the last retarget, current projections suggest that this drop might soon be history. On Aug. 28, the difficulty is expected to bounce back, potentially increasing by 4% or more. Source @Bitcoin_Blockchain_Trading

💰 Spot bitcoin ETFs see highest single-day inflow since July, continuing seven-day streak opposite to ether The combined value of the spot bitcoin exchange-traded funds based in the U.S. has reached its highest value so far in the month of August—about $58.4 billion—after a seven-day streak of positive inflows continued on Friday. Furthermore, Friday saw the highest inflows since the streak began and then some, logging a net inflow of $252 million, the largest net inflow since 32 days prior on July 22, according to data from SoSoValue. Source @Bitcoin_Blockchain_Trading

JUST IN: Toncoin $TON falls 13% following Telegram founder Pavel Durov's arrest in France. @Cryptocurrency_Inside

💰 Bitcoin Demand Still Weak, But Stablecoin Liquidity is Increasing: CryptoQuant Historical on-chain data shows that high bitcoin (BTC) demand often precedes price recoveries and rallies; however, this is not the case at the moment. Current market dynamics suggest that such price movements are unlikely in the near term because BTC demand growth has remained at low levels. A recent report from CryptoQuant revealed that bitcoin demand has slowed significantly since early April, when the crypto asset hovered around $70,000. Source @Bitcoin_Blockchain_Trading

💰 JPMorgan lowers bitcoin mining stock targets amid price drop and rising hashrate JPMorgan has downgraded price targets for bitcoin miners to reflect second-quarter results and other company-specific announcements, such as fleet efficiency improvements and hashrate targets. The decline in price targets is primarily due to a drop in bitcoin prices since the last model update, reducing the spot bitcoin price assumption from $68,000 to $60,000, according to an analyst report from the investment bank released Friday. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin dominance surges to 60% amid crypto market downturn Bitcoin dominance, a term used to describe the total market share that bitcoin maintains relative to other cryptocurrencies, has surged to a yearly high amid a wider pullback among digital assets and global equities markets. Bitcoin’s total market cap now represents nearly 60% of the total amount of capital in the crypto industry, according to The Block’s data page. This is up from a bitcoin dominance of about 51% on Friday. Source @Bitcoin_Blockchain_Trading

💰 Former congressional candidate with FTX ties Michelle Bond charged with unlawful campaign contributions Former congressional candidate Michelle Bond has been charged with allegedly conspiring in an unlawful campaign finance scheme operated by executives at an unnamed crypto exchange based in the Bahamas. Damian Williams, the United States Attorney for the Southern District of New York, announced the unsealing of Bond's indictment following back and forth between Bond's partner and former FTX executive Ryan Salame and prosecutors on whether she should be investigated. Source @Bitcoin_Blockchain_Trading

🇺🇸 Stablecoins hold around 1% of US Treasury bills today – Bitwise Juan Leon, Senior Investment Strategist at Bitwise Invest, highlights the growing influence of stablecoins in the US Treasury bill market. Currently, stablecoins hold approximately 1% of US Treasury bills, but Leon projects this could surge to 15%, potentially making them one of the top three holders of these securities. Leon shared a Bloomberg chart illustrating that as of June, Tether held $80.9 billion in Treasury bills, surpassing Schwab’s US Treasury Money Fund at $70.7 billion and Fidelity Investments’ Money Market Treasury Only Fund at $79 billion. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin’s Market Dominance Grows, Sustained by Long-Term Holder Support Stablecoins and altcoins are facing steep declines in their dominance, while Bitcoin strengthened its market position. According to Glassnode’s latest report, Bitcoin’s dominance has surged from 38% in November 2022 to a remarkable 56% of the entire digital asset market today. On the other hand, Ethereum, as the second-largest asset in the ecosystem, has experienced a 1.5% decrease in dominance, remaining largely unchanged over the last two years. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin OTC desk balances rise by 60,000 BTC in past 30 days Bitcoin’s over-the-counter (OTC) desk balances have notably increased in 2024. A significant amount of Bitcoin has been added to OTC desks over the past few months, signaling a shift towards distribution rather than accumulation. This behavior mirrors the trends seen in the second half of 2021 when Bitcoin’s price was elevated but faced increased distribution, eventually leading to a price correction in 2022. Approximately 370,000 BTC are currently held on OTC desk balances, marking a 60,000 BTC increase over the past 30 days. Source @Bitcoin_Blockchain_Trading

💰 CME BTC futures open interest dips then rebounds to $5.64 billion as institutional investors adjust to volatility Open interest (OI) of longs on CME futures by asset managers reached $4.97 billion two weeks ago. This marks the metric's lowest point since early March and is a significant drop from the all-time high of $6.74 billion observed in the first week of July. The recent dip suggests that asset managers have been reducing their long exposure to BTC, possibly in response to recent market volatility or as part of risk management strategies in a period of macroeconomic uncertainty. Source @Bitcoin_Blockchain_Trading

🟠 Binance blocks $2.4 billion in potential crypto scams in 2024 Binance, the largest crypto exchange by trading volume, announced that it had prevented over $2.4 billion in potential user losses from scams and fraud in the first seven months of 2024, according to an Aug. 20 statement shared with CryptoSlate. Binance revealed that over $1.1 billion, or about 45%, of the $2.4 billion in averted losses involved withdrawals linked to suspected crypto scams. The exchange reported that these efforts protected more than 1.2 million users on its platform. Source @Bitcoin_Blockchain_Trading

JUST IN: 🇯🇵 Japanese public company Metaplanet buys another ¥500 million worth of Bitcoin 🤝 @Cryptocurrency_Inside ✅

📊 Franklin Templeton files S-1 application for crypto index ETF offering BTC, ETH exposure Franklin Templeton has filed an S-1 application with the US Securities and Exchange Commission (SEC) to launch a crypto index exchange-traded fund (ETF). According to the Aug. 16 filing, the proposed fund — dubbed “Franklin Crypto Index ETF” — aims to offer investors exposure to the performance of Bitcoin and Ethereum through a regulated financial product. Source @Bitcoin_Blockchain_Trading

💰 PayPal founder and billionaire Peter Thiel says #Bitcoin is so big that society didn't even know how to process it 🤝 @Cryptocurrency_Inside ✅

🌟 Join the #1 Crypto News Channel on Telegram: Cryptocurrency ↪ Inside! 🌟 Stay ahead with: - 📰 Real-Time Updates: Get the latest news instantly. - 🔗 In-Depth Analytics: Powerful blockchain insights. - 📅 Market Trends: Expert analysis and forecasts. Join our vibrant community and stay updated with our active Twitter feed. The only news source you need! 🔗 Join now: @Cryptocurrency_Inside #advertising

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🗣️ Co-founder of BitMEX, Arthur Hayes, believes that for an altcoin season to begin, Bitcoin must surpass $70,000 and Ethereum $4,000. He also predicts that if these levels are reached, Solana could rally to $250 during the next altcoin season. What’s your prediction for Solana’s price? 🌚 - $180 ❤️ - $250 ⚡️ - $350 🐳 - $500 🤝 @Cryptocurrency_Inside ✅

💰 Bitcoin power law model suggests $30K floor, $1M potential this cycle Giovanni Santostasi’s Bitcoin Power Law model suggests Bitcoin’s price will not fall below $30,000 again, indicating a floor for future valuations. The model shows Bitcoin’s price trajectory will continue to rise, with its current ‘fair price’ at $86,339 and potential ceiling at $332,543. As depicted in the charts from Bitbo, the model uses linear regression to establish support and resistance bands, which have historically contained Bitcoin’s price movements. Source @Bitcoin_Blockchain_Trading

💰 Bitwise CIO says market is ‘not bullish enough’ amid rising political endorsements Bitwise CIO Matt Hougan believes the market is “not bullish enough” about Bitcoin, and investors need to rethink the flagship crypto’s potential upside after what happened at the Bitcoin2024 conference. Hougan’s reflections on the 2024 Bitcoin Conference in Nashville suggest a dramatic shift in what’s possible for Bitcoin compared to even two years ago. He attributed the shift in sentiment to the significant political endorsements Bitcoin received at the event. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin transaction fees drop to yearly low The total fees paid to Bitcoin miners are a crucial metric indicating network activity and economic behavior within the blockchain. This metric reflects user willingness to pay for transaction prioritization, and it correlates with periods of high demand. Historically, spikes in transaction fees have correlated with price volatility and increased trading volumes, indicating heightened network utilization. This pattern is consistent with past bull runs, where network congestion drove fees higher. Source @Bitcoin_Blockchain_Trading

💰 Over 35k BTC added to exchange balances in 2 weeks Between July 15 and July 28, the total amount of BTC held on exchange addresses increased significantly, with over 35,000 new BTC added to exchange balances. Data from Glassnode showed exchange balances starting at 3,000,466 BTC in July and peaking at 3,046,600 BTC on July 17 before settling at 3,035,711 on July 28. This represents a significant increase, especially given the general trend of decreasing exchange balances in the past year. Source @Bitcoin_Blockchain_Trading

💰 Vaneck Predicts Bitcoin Could Reach $2.9 Million by 2050 Asset management firm Vaneck released a report projecting bitcoin could reach $2.9 million per coin by 2050, becoming a global medium of exchange and reserve currency. The report suggests bitcoin could settle 10% of global international trade and 5% of domestic trade, with central banks holding 2.5% of their assets in BTC. Scalability challenges are noted, but Layer-2 solutions may enhance adoption. Source @Bitcoin_Blockchain_Trading

💰 Trump says he'll fire SEC Chair Gensler and create strategic bitcoin reserve if elected: Bitcoin 2024 Donald Trump further outlined his crypto platform on stage at Nashville's Bitcoin 2024 conference in an address on Saturday after taking the stage an hour after his address was scheduled to begin. During Trump's speech, which mainly covered a wide range of general campaign-related policies, the former President also outlined more specific promises when it comes to bitcoin and the wider crypto industry. Source @Bitcoin_Blockchain_Trading

💰 X seemingly drops Bitcoin emoji during Bitcoin Conference week surprising community Social media platform X, formerly Twitter, has seemingly discontinued its support for the Bitcoin emoji (also known as a hashmoji or hashflag). As of press time, when typing #bitcoin into X, no Bitcoin logo is generated. Initially introduced in 2020, the emoji appeared alongside the hashtag #Bitcoin, adding an orange Bitcoin symbol to tweets. This feature became a hallmark of Bitcoin discussions on the platform, and its recent removal has sparked a backlash from the crypto community. Source @Bitcoin_Blockchain_Trading

💰 Jersey City pension fund amends regulatory documents to include Bitcoin ETF exposure Jersey City Mayor Steven Fulop has announced plans to invest a portion of the city’s pension fund in Bitcoin exchange-traded funds (ETFs), highlighting a significant step toward integrating crypto into municipal financial strategies. In a social media post on July 25, Fulop shared that the Jersey City pension fund is updating its documentation with the US Securities and Exchange Commission (SEC) to include Bitcoin ETFs. Jersey City is the second largest city in the state of New Jersey. Source @Bitcoin_Blockchain_Trading

💰 Kamala Harris will not be speaking at Bitcoin Conference 2024 Despite rumors circulating that the Democratic frontrunner for the US Presidential Election 2024, Kamala Harris, will be speaking at the Bitcoin Conference in Nashville this week, David Bailey has confirmed that she will not attend. David Bailey, CEO of BTC Inc. and organizer of The Bitcoin Conference, confirmed this decision comes amid ongoing discussions about the Democratic Party’s stance on Bitcoin, crypto, and blockchain technology. Source @Bitcoin_Blockchain_Trading

🏦 Mt. Gox creditors start receiving bitcoin and bitcoin cash on Kraken Creditors of the collapsed crypto exchange Mt. Gox have begun receiving bitcoin and bitcoin cash transfers on the crypto exchange Kraken, according to a Telegram group of Mt. Gox creditors. The Block also confirmed one payout with a source. The payout comes after Kraken received 48,641 BTC, valued at over $3 billion, from the Mt. Gox Rehabilitation Trustee on July 16 to disseminate to creditors, The Block previously reported. The exchange expected creditors to retrieve their funds within one to two weeks. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin miner HIVE Digital to build 100 MW crypto mining facility in Paraguay The bitcoin mining firm HIVE Digital Technologies announced plans to build a new 100-megawatt (MW) crypto mining facility in Paraguay. "This potential opportunity is expected to add up to an additional 6.5 Exahash per second (EH/s) to our Bitcoin mining operations, increasing our global EH/s to 12.1 EH/s," the firm's executive chairman Frank Holmes said in a release. "This represents a significant milestone in our diversified growth strategy and supports our commitment to expanding our global footprint with data center operations in Canada, Sweden, Iceland and now Paraguay." Source @Bitcoin_Blockchain_Trading

💰 Bitcoin ETFs See $1.2B Inflow as CBOE Sets Ethereum ETF Launch Date Spot Bitcoin ETFs have racked up around $1.24 billion in inflows over the past week as spot markets recover. Preliminary figures from Farside Investors suggest that Friday, July 19, saw inflows of $384 million, with Fidelity leading the pack at $140 million inflows. This marks eleven consecutive trading days with a positive flow to these institutional investment products. Even Grayscale saw an inflow of $20 million to its GBTC spot ETF on Friday, the first positive flow day for the fund for a week. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin Now In French Pension Plans! VanEck has partnered with Inter Invest to introduce Bitcoin to French pension savings plans through an innovative Exchange Traded Note (ETN). This groundbreaking collaboration marks the first time French pension investors can gain exposure to digital assets in a regulated and secure manner. The product, the $407 million VanEck Bitcoin ETN (VBTC), provides a new way to include Bitcoin in retirement portfolios, offering transparency, security, and diversification. Source @Bitcoin_Blockchain_Trading

🪙 Five spot Ethereum ETFs, including Fidelity, will launch on July 23, exchange Cboe says in notices Spot Ethereum exchange-traded funds, including ones from Fidelity and VanEck, will begin trading on July 23, according to exchange Cboe. Cboe, where many of the proposed Ethereum ETFs will trade, disclosed that they will begin trading next week. These include the Fidelity Ethereum Fund, the Franklin Ethereum ETF, the Invesco Galaxy Ethereum ETF, the VanEck Ethereum ETF and the 21Shares Core Ethereum ETF. Source @Bitcoin_Blockchain_Trading

⬜️ OKX ceasing all services in Nigeria by end of August Global cryptocurrency exchange OKX is winding down services in Nigeria as of Aug. 30, a company spokesperson told The Block in an email. "OKX is committed to adhering to the applicable rules and regulations of all jurisdictions in which we strive to offer services," an OKX spokesperson said in a statement. "Due to local laws and regulations, we notified local customers that we would no longer offer services to customers in Nigeria from August 30." Source @Bitcoin_Blockchain_Trading

🪙 BlackRock sets 0.25% fee in latest round of amended forms as firms gear up to launch spot Ethereum ETFs Asset management giant BlackRock set its fee at 0.25% for its spot Ethereum product as firms file amended forms ahead of an expected launch date next week. BlackRock said it could "waive all or a portion" of the fee for certain periods of time, according to an amended S-1 registration statement filed on Wednesday. The firm also said it would wave a portion of the fee, bringing it down to 0.12% for a year after listing and for the first $2.5 billion in assets. Source @Bitcoin_Blockchain_Trading

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💰 Kraken receives bitcoin from Mt. Gox Trustee, payouts anticipated in 7-14 days Crypto exchange Kraken has received a pair of bitcoin and bitcoin cash transfers from the Mt. Gox Rehabilitation Trustee. Kraken appeared to write in an email to clients, according to a screenshot posted in the Mt. Gox creditors Telegram group. “While we will work to distribute funds as quickly as possible, please anticipate 7-14 days for funds to be credited to your account. The amount you will receive has been determined by the Trustee, and we will distribute according to their instructions.”. Source @Bitcoin_Blockchain_Trading

💰 BlackRock CEO reiterates Bitcoin is ‘digital gold’ and a hedge against economic uncertainty BlackRock CEO Larry Fink reaffirmed his supportive stance on Bitcoin, describing it as “digital gold” and emphasizing its potential as a key asset in diversified investment portfolios. Fink made the statement during a July 15 CNBC interview. His latest endorsement comes on the heels of BlackRock’s robust second-quarter earnings, which surpassed analysts’ expectations. The firm has reported record results for the first half of the year. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin futures volume peaks in March, declines in sync with price drop Bitcoin futures volume on major exchanges shows varied trends throughout 2024. The Glassnode charts illustrate a significant shift in futures trading activity. From the start of the year, the volume fluctuated, peaking in early March with almost 1.2 million BTC traded daily. This peak coincided with Bitcoin’s price reaching over $70,000, suggesting a strong correlation between trading volume and price movements at the time. Source @Bitcoin_Blockchain_Trading

💰 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. Source @Bitcoin_Blockchain_Trading

💰 Inflow Streak Pushes US Bitcoin ETFs Near $16B Mark On Friday, the U.S. spot bitcoin ETFs experienced a strong trading day with a total volume of $1.15 billion. The funds collectively secured $310.21 million, with two ETFs capturing the majority of the inflows, according to sosovalue.xyz metrics. Blackrock’s IBIT secured $120.03 million on Friday, bringing its BTC reserves to 314,204.30 BTC. Fidelity’s FBTC was the second largest recipient, garnering $115.14 million, sosovalue.xyz and coinglass.com stats indicate. Source @Bitcoin_Blockchain_Trading

📊 Bitcoin and ether slide as equities sell-off despite rising rate-cut expectations Bitcoin, ether, and other major altcoins fell further on Friday alongside equity indices, despite indicators boosting the odds that the U.S. Federal Reserve could begin a rate cut cycle in September. The bitcoin price traded lower over the past 24 hours, down 3% to change hands for $57,189 at 7:51 a.m. ET, according to The Block's Price Page. Major altcoins such as ether and Solana also fell 2% and 5%, respectively, in the same period. Source @Bitcoin_Blockchain_Trading

🟠 Seven Years of Binance: CEO Richard Teng Shares Insights on Achievements and Future Goals Binance is celebrating its seventh anniversary, reflecting on its growth and achievements in the rapidly evolving cryptocurrency industry. In an open letter, Binance CEO Richard Teng shared his insights and perspective on the company’s journey and future. Source @Bitcoin_Blockchain_Trading

💰 6% of Bitcoin nodes running outdated software vulnerable to exploits Bitcoin Core developers have historically disclosed just 10 vulnerabilities affecting older software versions, as reported by Bitcoin Optech. The vulnerabilities, fixed in more recent releases, could have allowed various attacks on nodes running outdated Bitcoin Core versions. The vulnerabilities are relevant given that Bitcoin Core developers recently introduced a new security disclosure policy to improve transparency and communication regarding vulnerabilities. Source @Bitcoin_Blockchain_Trading

🇺🇸 Coinbase believes crypto voters will play major role in US Presidential elections Coinbase said crypto voters will play a significant role in the upcoming US presidential election and have the potential to impact key battleground states. The exchange pointed to several surveys and studies conducted on its behalf to gauge the extent of crypto adoption among American voters. It added that surveys have revealed that crypto is a decidedly bipartisan issue. Source @Bitcoin_Blockchain_Trading

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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. Source @Bitcoin_Blockchain_Trading

💰 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. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin sees surge in new addresses as its price drops Despite the market downturn, the number of new addresses on the Bitcoin network has reached a two-month high, with the seven-day moving average (7DMA) recording over 317,000 new addresses on Friday, July 5. This increase is particularly noteworthy given that price has fallen by over 10% during the same period. To put this in perspective, the beginning of last week saw the 7DMA at just 263,000 new addresses. This marks a substantial 20% week-on-week increase. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin ETFs see largest inflow since June 5 at $294 million According to Farside data, Bitcoin ETFs experienced a significant surge in inflows on July 8, marking the largest influx since June 5. The total net inflow was $294.8 million. Leading the charge was BlackRock’s IBIT, which recorded an impressive $187.2 million inflow, the largest since June 6. This substantial addition brings BlackRock’s total net inflow to a remarkable $17.9 billion. Fidelity’s FBTC also saw a significant boost, with $61.5 million added, increasing its total net inflow to $9.4 billion. Source @Bitcoin_Blockchain_Trading

💰 Metaplanet Announces Bitcoin Purchases Totaling Nearly $2.5 Million Metaplanet, a Tokyo-listed public company, has disclosed it has completed bitcoin purchases amounting to 400 million yen (almost $2.5 million). The company, which vowed to use bitcoin as a strategic reserve asset to navigate the uncertainties of the Japanese economy and the devaluation of the yen, acquired 42.466 bitcoin at an aggregate price of $58,600 per bitcoin. Source @Bitcoin_Blockchain_Trading

💰 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. Source @Bitcoin_Blockchain_Trading

💰 Two More Sleeping Bitcoin Addresses Wake From Slumber, Moving 1,045 BTC Two days ago, a dormant bitcoin wallet moved over 1,000 bitcoins on July 5, and since then, two more notable awakenings have occurred in the past 48 hours. On Saturday, an address created in December 2013 spent approximately 149.99 BTC for the first time in over a decade. On Sunday, another historic wallet from April 1, 2016, transferred 895.11 BTC, valued at $51.3 million. Source @Bitcoin_Blockchain_Trading

💰 Crypto Crash Pushes Fear & Greed Index to Lowest Since Bitcoin Traded at $17K in Early 2023 Crypto investor sentiment cratered to the most negative levels since the tail-end of the 2022 crypto winter as bitcoin's (BTC) plunge below $54,000 pulled down digital asset markets. The widely-followed Crypto Fear & Greed Index, created by data source Alternative.me, shows market enthusiasm towards bitcoin and other large cryptocurrencies, with 0 being extreme fear and 100 translating to extreme greed. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin Exchange Hack Leads Surging Tally of Crypto Stolen in 2024: TRM Labs Hackers stole more than twice as much cryptocurrency in the first half of 2024—based on the U.S. dollar value of the coins—compared to the first six months of 2023, according to a recent report by blockchain intelligence firm TRM Labs. Crypto thefts totaled $1.38 billion up through June 24 of this year, more than double the $657 million stolen as of the same time in 2023. Total crypto thefts thus far in 2024 have already nearly reached the $1.7 billion in value stolen across all of last year, per TRM data. Source @Bitcoin_Blockchain_Trading

💰 Mt Gox Trustee Transfers $2.7B in Bitcoin, Creating 19th Largest BTC Wallet On Thursday, the trustee overseeing the Mt. Gox bitcoins transferred about 47,228.73 BTC to an undisclosed address. The transfer, valued at approximately $2.7 billion, leaves Mt. Gox with around 141,687 BTC worth nearly $8.1 billion. This significant transaction came after several test transfers were conducted earlier on July 4. The trustee had previously announced that distributions would commence in July, though the specific date remains unspecified. The new wallet now ranks as the 19th largest BTC wallet globally in terms of total holdings. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin’s bullish cycle questioned as price falls below 200-day moving average Bitcoin price movements are influenced by various technical models that provide insight into market trends and potential future performance. As of July 4, Bitcoin has fallen below the 200-day moving average (DMA), which is currently at $58,373. The last time Bitcoin fell through this level was in August 2023. Since the beginning of 2024, Bitcoin’s price has shown a robust upward trajectory, peaking above $70,000 in March. Source @Bitcoin_Blockchain_Trading

💰 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. Source @Bitcoin_Blockchain_Trading

💰 Europe’s largest Bitcoin miner Northern Data to launch IPO in the US Europe’s largest Bitcoin miner, Northern Data AG, has announced plans for a substantial initial public offering (IPO) in the US at a valuation between $10 billion and $16 billion. The IPO, which will be held on the Nasdaq stock exchange, is scheduled for the first half of 2025 and may also include selling a minority stake to investors prior to the public listing. Source @Bitcoin_Blockchain_Trading

💰 Bitcoin long liquidation dominance hits 70% in June amid 2024 market volatility Bitcoin’s long liquidation dominance across all exchanges has fluctuated significantly in 2024, reflecting volatility in market sentiment. The seven-day moving average data reveals periods of increased long liquidations, especially in April and June. Notably, these spikes in liquidation dominance coincide with significant price movements. In March, the dominance of long liquidations surged above 60%, correlating with a notable decline in Bitcoin’s price from approximately $70,000 to $60,000. Source @Bitcoin_Blockchain_Trading

💰 CleanSpark mined 445 bitcoin last month, exceeds mid-year hashrate target of 20 EH/s CleanSpark mined 445 bitcoin last month, up from May’s 417 mined. The bitcoin miner said it exceeded its mid-year target of 20 EH/s in operational hashrate due to its acquisition of five new bitcoin mining sites in Georgia. The company sold 8.06 bitcoin in June at an average price of approximately $67,514 per bitcoin, according to a press release. The average hashrate throughout the month was 17.85 EH/s. Source @Bitcoin_Blockchain_Trading

💰 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." Source @Bitcoin_Blockchain_Trading