Bitcoin Hits $68,500 US President Biden Effect
After an active Sunday, Bitcoin is trading at $67,332 in the new week, while the leading altcoin Ethereum is trading at $3,480. The total value of the cryptocurrency market is 2.39 trillion dollars. Bitcoin’s market cap is $1.32 trillion, Ethereum’s market cap is $418 billion. On Friday, July 19, there was an inflow of $383.6 million into Bitcoin Spot ETFs in the USA.
After an active Sunday, Bitcoin is trading at $67,332 in the new week, while the leading altcoin Ethereum is trading at $3,480. The total value of the cryptocurrency market is 2.39 trillion dollars. Bitcoin’s market cap is $1.32 trillion, Ethereum’s market cap is $418 billion. On Friday, July 19, there was an inflow of $383.6 million into Bitcoin Spot ETFs in the USA.
Joe Biden’s withdrawal from the presidential race wiped out $67 million in crypto long positions in 30 minutes
After United States President Joe Biden withdrew from the 2024 elections, leveraged long positions worth $ 67 million in the cryptocurrency market were liquidated within 30 minutes. The massive liquidations, which took place between 17:30 and 18:00 UTC on July 21, were triggered by Bitcoin’s price falling 2.3% to $65,880. However, Bitcoin quickly recovered and reached its highest level at $68,520 within 24 hours, and investors with leveraged short positions lost a total of $34 million. “Biden was not credible to beat Trump, so an alternative candidate could limit Trump’s chances,” said Markus Thielen, founder of cryptocurrency firm 10x Research.
“But there is no reliable alternative so BTC rose.” Thielen also noted that a “large” buy order entered the market at the time, contributing to the sharp recovery. In the 12-hour period, between 10:00 a.m. and 22:00 UTC on July 21, $81.1 million in long positions and $53.4 million in short positions were liquidated. These liquidations included liquidations of $8.6 million in Solana, along with $43.8 million in Bitcoin and $31.1 million in Ether. The total liquidation of $134.5 million marked the highest liquidation amount in a 12-hour period since July 8.
Bitcoin rises above $68,000 as US ETFs’ positive streak continues
Bitcoin continued its weekend rally, breaking above the $68,000 resistance line on Sunday night Eastern Standard Time (EST). Bitcoin, which was traded at $67,450 with an increase of 1.02% in the last 24 hours, rose to $68,480 earlier today. While the entire cryptocurrency market gained 0.89% in value the other day, Solana achieved more significant gains with 4.73% and is traded at $179 at the time of writing.
“One of the main drivers of this rise is large inflows into Bitcoin ETFs,” BTC Markets crypto analyst Rachael Lucas told The Block. Said. US Bitcoin exchange-traded funds recorded positive inflows for the eleventh consecutive day as of Friday. BlackRock’s IBIT fund has collected nearly $19 billion in net inflows since its founding, according to SoSoValue data.
JPMorgan says coming crypto recoveries unlikely to be sustainable
JPMorgan analysts state that any recovery in crypto prices from this point will be tactical, that is, temporary and strategic, and will not be the beginning of a permanent uptrend. They state that Bitcoin’s current price is about $67,500, while its cost of production is about $43,000, and its volatility-adjusted benchmark to gold is about $53,000. A report published last week by JPMorgan analysts led by managing director Nikolaos Panigirtzoglou notes that Bitcoin prices signal a mean reversion around the zero line, which limits its upside potential in the long term.
Analysts reiterate that crypto recoveries are expected from August onwards, with liquidations decreasing after July. Bitcoin futures, Gemini and Mt. They state that it has been weak recently due to Gox creditors and the German government selling their Bitcoins, but they expect these liquidations to decrease after July and a recovery in Bitcoin futures starting from August.
Crypto
1 in Crypto Markets with Trump’s Inauguration
Trump’s failure to mention Bitcoin in his inauguration speech led to a liquidation of $1.28 billion in crypto markets.
Trump’s failure to mention Bitcoin in his inauguration speech led to a liquidation of $1.28 billion in crypto markets.
The cryptocurrency market has been volatile over the last 24 hours, with large liquidations and widespread declines in altcoins. Bitcoin has shown a more resilient performance compared to leading altcoins such as Solana and Cardano. According to Coinglass data, more than 386,000 investors were liquidated in the last 24 hours and a total of approximately $1.28 billion was liquidated.
Of this, $816 million came from long positions and $307 million came from short positions. This shows that market participants are changing their positions to adapt to sudden price movements. “Given Bitcoin’s sensitivity to US economic data and Fed interest rate expectations, investors should be prepared for increased volatility in the coming days,” said FXTM Senior Market Analyst Lukman Otunuga. he said.
Analysts stated that the market has consolidated after its recent rally and is cautiously optimistic.
Trump’s World Liberty Financial (WLF) project purchased more than $100 million in cryptocurrencies on inauguration day
Hours before Donald Trump took office, World Liberty Financial, the DeFi project associated with the Trump family, purchased a large amount of cryptocurrency. According to Arkham Intelligence data, the project wallet purchased $46.8 million worth of Ethereum (ETH) and $46.7 million worth of Wrapped Bitcoin (wBTC) in four hours.
Additionally, tokens with smaller market caps such as Ethena (ENA), Wrapped Tron (wTRX), Chainlink (LINK), Aave (AAVE) and Uniswap (UNI) were also purchased. With these purchases, the total crypto asset value of the wallet reached 326.2 million dollars, the largest part of which is ETH, USD Coin (USDC) and wBTC.
World Liberty Financial also purchased ENS domains, leading to speculation that memecoins will be issued that may be tied to other members of the Trump family.
Ethereum Foundation will allocate 50,000 ETH to support DeFi applications
Ethereum His foundation announced that it will allocate 50,000 Ether, approximately $165 million, to support Ethereum’s decentralized finance (DeFi) ecosystem. Ethereum founder Vitalik Buterin stated in his post on the X platform on January 20 that the foundation will make organizational changes in order to more actively support application developers and provide more transparency to the community.
The funds will be held in a 3-of-5 multisig wallet on Safe and the testing process was successfully carried out via the lending protocol Aave. However, Ethereum Foundation representative Hsiao-Wei Wang stated that the full installation of the wallet may take a few days. The foundation’s treasury reserve decreased from 617,000 Ether in January 2020 to today’s level of 269,000 Ether (56% decrease). The 50,000 Ether allocated corresponds to 18.5% of total assets.
Although there are criticisms among community members about the foundation’s lack of interest in DeFi and the price pressure caused by the sale of Ether, it is reported that the foundation aims to meet its budget with staking rewards. Vitalik Buterin emphasized that the foundation will adhere to the principle of impartiality and will not engage in lobbying activities with regulators. CryptoQuant CEO Ki Young Ju supported Buterin, saying that the foundation prioritizes “creating value rather than making money.”
Crypto
Crypto currencies are waiting for the meeting to be held at the White House on March 7?
Bitcoin is traded at $ 87,147 at the Ethereum $ 2,180. The total value of the crypto currency market is 2.82 trillion dollars. Bitcoin’s market value of $ 1,72 trillion, Ethereum’s market value is 262 billion dollars. The US Senate canceled the controversial crypto tax regulation.
Bitcoin is traded at $ 87,147 at the Ethereum $ 2,180. The total value of the crypto currency market is 2.82 trillion dollars. Bitcoin’s market value of $ 1,72 trillion, Ethereum’s market value is 262 billion dollars. The US Senate canceled the controversial crypto tax regulation.
The US Senate accepted the bill with 70 to 28 votes for the cancellation of the controversial tax regulation that necessitates the US Revenue Administration (IRS) to report the user data of the intermediaries defined as “storage mediators”.
This decision will be submitted to US President Donald Trump. The bill, presented by Senator Ted Cruz and targeted the decentralized finance ecosystem, was criticized for violating personal privacy and preventing innovation and putting the crypto currency sector difficult. The Trump administration supports the cancellation of the regulation, stating that it will undermine American innovation and bring heavy compliance burden.
This arrangement required that platforms that provide service to non -decentralized financial protocols to collect user information. However, many experts find regulation unattended due to intense reactions from the sector and possible confidentiality violations. Some groups in the crypto currency industry filed a lawsuit against IRS against this rule and warned that the regulation could push the sector out of the United States.
El Salvador President Bukele said that despite the IMF pressure, Bitcoin purchases will continue.
El Salvador President Nayib Bukele said that despite the call of the International Monetary Fund (IMF) to stop Bitcoin purchases, his government will continue to accumulate crypto currency Bitcoin. Bukle, on March 4 in a statement, “We do not stop and we will not stop,” he said they will not comply with the IMF’s request.
On March 3, the IMF demanded El Salvador’s $ 1.4 billion loan agreement to stop accumulating Bitcoin and stop Bitcoin mining. However, El Salvador continues its strategy of receiving at least one Bitcoin per day. The country has reached 6,101 BTC by increasing Bitcoin reserves and has accumulated an asset of about $ 534.5 million.
In 2021, El Salvador became the first country to accept Bitcoin as a legal payment tool. However, with the legal regulation made in January 2024, the acceptance of Bitcoin for the private sector was made optional. If the agreement with the IMF includes limiting some Bitcoin initiatives, D seems to be determined to maintain the boule government Bitcoin accumulation policy.
Metaplanet continues to purchase Bitcoin and added 43.9 million dollars worth of BTC.
The Japanese investment company Metaplanet increased its assets by acquiring 497 BTCs within the scope of Bitcoin accumulation strategy. The company announced that it has spent a total of 43.9 million dollars for this purchase at an average price of $ 88,448.
Thus, Metaplanet’s total crypto currency Bitcoin presence reached 2,888 BTC. The average cost of Bitcoins that the company has acquired so far is at the level of $ 83.172 and the total purchase cost is calculated as approximately 240.2 million dollars. The current market value reached $ 251 million and earned the company on paper.
Metaplanet in line with the Bitcoin accumulation strategy announced in April 2024, it continues to make aggressive purchases, while aiming to accumulate 10,000 BTC until the end of 2025 and 21,000 BTC until the end of 2026. Following this last Bitcoin purchase, Metaplanet’s shares traded in Japan gained 17 %on Wednesday. During the same time, Bitcoin increased by 4 %in the last 24 hours and reached $ 86,943.
Crypto
Bitcoin is trying to hold on at $ 88,000
Whales, Bitcoin 3 months to the lowest level of 26.4k BTC’yi carried the accumulation addresses.
Whales, Bitcoin 3 months to the lowest level of 26.4k BTC’yi carried the accumulation addresses.
Bitcoin declined to $ 86,000 yesterday and reached the lowest level of the last three months. Although there are data that there may be more decreases in the market, it is observed that whales accumulate.
Bitcoin with the loss of 10 %on a weekly basis, Analyst Axel Adler JR said that this correction was the largest quarter decline since August 2024. Short -term investors were also affected by the sales pressure, while 27,500 BTCs changed hands in the last 24 hours. On the other hand, big investors benefit from the opportunity.
According to Cryptoquant data, 26,430 BTCs were transferred to whale accounts on February 24th. It is known that such addresses are generally used for over -the -counter operations and long -term storage purposes. In addition, Strategy was reported to purchase 20,99 billion dollars of 20,99 billion BTC last week.
Bernstein reiterated the Bitcoin target of $ 200,000 and sees the opportunity to purchase during the market correction.
By re -confirming the 12 -month Bitcoin price target for $ 200,000, Bernstein re -evaluated the current market correction as a purchase opportunity for investors looking for strategic entry points before a new summit.
Analysts, Bitcoin’s fall below $ 80,000, the next 12-18-month period can offer a ratio of attractive risks for investors targeting new summits, he said. It was emphasized that the current correction was temporary and did not change Bitcoin’s views on the ongoing rise cycle. Bitcoin fell more than 7 %in the last 24 hours and fell below $ 87,000.
Bernstein, a global stock market of a hacking incident of $ 1.5 billion and Argentine President Javier Milei’nin supported by the factors such as discussions about the Libra Token, he said. In addition, macro concerns, such as high interest rates and uncertainties in government expenditures, also affected the Bitcoin market.
Bernstein stated that BTC has a binary structure that behaves like high beta technology and gold, and predicted that the demand from corporate and state treasures would continue to increase. Analysts estimate that Bitcoin has not yet reached the loop summit and may approach $ 200,000 in the next 12 months. This long -term projection is based on the class of “digital gold” assets that grow with corporate and state demand.
Grayscale, Altcoin ETF racing accelerated while applying for the Spot Polkadot Fund.
Grayscale, through Nasdaq, the US Securities and Stock Exchange Commission (SEC), Grayscale Polkadot Trust’ın shares to list and process a 19B-4 application for a 19B-4 application.
The assets of the fund consist of DOTs with Polkadot Network’s local Token. Grayscale announced in 2021 that it had established a series of new crypto funds, including Polkadot Trust. The 19b-4 application is the second step of the two-stage process for the consent of a crypto ETF. After the application is accepted by the SEC, the approval process will begin to be published in the Federal Register.
-
News2 weeks agoKaty Perry Blue went into space with Origin
-
Mobile1 week agoVivo T4 5G, 7,300 mAh battery and 90W charging support is counting days for promotion
-
Mobile2 weeks agoThe battery capacity of the OnePlus Nord CE5 has been leaked
-
Mobile5 days agoOnePlus 13T comes with small size peak performance and gigantic battery
-
Software2 weeks agoSamsung Android 15 -based One UI 7 offers a wide device family
-
Mobile1 week agoiPhone 17 Pro Max’s camera design becomes clear
-
Automobile2 weeks agoRenault Scenic E-TECH gets new features and lower prices
-
Mobile1 week agoHonor Power introduced with 8.000mAh battery and Snapdragon 7 gene 3 chipset
