Bitcoin's Inverse Correlation with the US Dollar Weakens, Allowing for Independent Asset Class Marketing
The U.S. Dollar Index has seen a significant decline due to increasing hopes of the Federal Reserve ending interest rate hikes. This has led to a weakening correlation between the USD and Bitcoin, meaning that movements in the U.S. dollar will have little impact on BTC.
US Presidential Candidate Predicts XRP Will Dethrone Bitcoin as Top Cryptocurrency, Sparking Varied Sentiments
US Presidential candidate Patrick Riley has predicted that XRP will surpass Bitcoin as the top cryptocurrency, causing mixed reactions. Riley tweeted that with XRP trading at just $11, it would eventually overtake Bitcoin in market dominance.
Tesla’s Digital Asset Holdings Remain Unchanged in Q2 Despite Bitcoin’s Price Rise
Tesla's digital asset holdings remained at $184 million on its balance sheet in the second quarter, despite the rise in bitcoin's price during the same period. This is due to accounting rules that do not allow for unrealized gains on crypto to be recorded.
CMC Report: Cryptocurrency Market Analysis for the First Half of 2023
According to CMC's crypto market analysis report, the global cryptocurrency market capitalization will reach $1.17 trillion in the first half of 2023, an increase of 48%. While there was a lack of breakthroughs in the second quarter, areas such as VR/AR and artificial intelligence performed well. Memes and DeFi are the most-watched sectors, with Bitcoin remaining the most popular cryptocurrency. Decentralized public infrastructure networks, real asset transactions, liquid collateralized derivatives, zkSync, and modular blockchains are also hot topics. In addition, there have been some developments in the FTX collapse, and the approval of the Bitcoin ETF is expected to trigger increased demand from institutional investors.
XRP Futures Open Interest Hits Record High of $1.1 Billion Amid Token Surge
Open interest on XRP futures has hit a new record high for the year, surpassing $1.1 billion in the past 24 hours. XRP tokens have seen a 6% surge for two consecutive days, reaching 80 cents before dropping back. The majority of these positions are held on Binance, with $443 million worth of open interest.
Bitcoin, Ethereum, and Ripple Show Mixed Performance as Markets Start Slowly
The global market cap has decreased by 0.4% to $1.2T, while the fear and greed index dropped to 55 from yesterday's neutral position of 57. Bitcoin is trading at $30.04K with a daily gain of 0.24% and a weekly decrease of 2.1%, and its volatility is decreasing as indicated by the Bollinger bands.
Ark Invest CEO Cathie Wood Bullish on Bitcoin, Predicts $1.5 Million Per Coin in Bull Case
Cathie Wood, CEO of Ark Invest, has a positive outlook on Bitcoin and predicts a bull case of $1.5 million per coin and a best case of $625,000. She believes Bitcoin is a hedge against counterparty risk, especially after the regional bank crisis in March. Wood defends her investment strategy and claims that Ark's active management approach is making a comeback, outperforming the NASDAQ 100. Despite her optimism for Coinbase, Wood has reallocated some of her stake towards "laggards" like genomic companies and Teradyne.
Grayscale's GBTC Volume Surges, Indicating Bullish Sentiment in Fiat Markets and Whale Interest in Bitcoin
Grayscale's GBTC volume has surged, indicating bullish sentiment in fiat markets. The number of addresses holding more than 1 Bitcoin has also increased, with whales showing interest in Bitcoin.
Cryptocurrency Markets Continue to Retreat, Bitcoin Slips 2% Alongside Altcoin Declines
Bitcoin and other cryptocurrencies experienced a decline in value following last week's gains, with Bitcoin falling by 2% in the past 24 hours to a low of $29,679. Ether, the second largest cryptocurrency, also saw a 2% decline to $1,880. Smaller cryptocurrencies, including Ripple's XRP, SOL, and XLM, experienced even steeper declines, with XRP falling by 5.4% and SOL and XLM shedding over 5%. LDO, the governance token of Lido Finance, was among the worst performers, plummeting by almost 12%.
Nearly 30% of Circulating Bitcoins May Be Lost Forever, On-Chain Data Suggests
Data from IntoTheBlock suggests that around 29% of circulating Bitcoin has remained dormant for over five years, potentially indicating that a significant portion of the 19 million mined Bitcoins may be permanently out of circulation. Glassnode also reported a 5-year high of 7,781,224.168 BTC that are either hodled or lost. Meanwhile, Bitcoin experienced a surge of 3.50% on July 13, reaching $31,641, following news that Ripple did not violate U.S. securities law by selling XRP on public crypto trading venues. However, the following day, Bitcoin fell by 4.78% to $30,133.
Bitcoin Drops Back to $30K, Erasing XRP-Led Gains: More Losses in July?
Bitcoin's price has dropped back to $30,000 after trimming gains led by XRP's legal win. The BTC/USD pair is following a rising channel with support near $30,200 on the 4-hour chart, and could start another increase unless there is a close below $30,000. The first major support is near the $30,200 level, with the next key support sitting near the $30,000 zone. There is a risk of a major decline if there is a close below the $29,200 support, but if the bulls remain active, there could be a fresh increase toward the $32,000 resistance.
Former Ripple Director Shares Insights on Ripple's Impact on XRP Price
Matt Hamilton, former Director of Developer Relations at Ripple, shared insights on the relationship between Ripple's holdings and the price fluctuations of XRP during a Twitter debate. While Ripple is the largest holder of XRP with 48 billion tokens, the majority of these holdings are kept in escrow contracts and only a small fraction is sold.
Crypto Market Sees Slow Start as Bitcoin and Ethereum Face Resistance, Ripple Struggles, and Solana Corrects
The global market cap has decreased by 0.4% in the past 24 hours, leading to a slow start to today's market session. Bitcoin is trading at $30.2K with a 0.2% drop in the past 24 hours and a 57% decrease in trading volume. Ethereum is trading at $1929 with a 52% decrease in price valuation and trading volume.
Bitcoin Defends $30K as Altcoins Dip, ADA Leads the Way Down
Bitcoin briefly dropped below $30,000 before rebounding and currently sits just above that level. Altcoins such as ADA, SOL, MATIC, and DOT have all seen drops in value. Bitcoin experienced increased volatility following Ripple's victory against the SEC, which initially caused a jump in price but was followed by a retracement. Most altcoins also saw gains following the ruling, but have since experienced declines.
Bitcoin Dips Below $30,000 After Reaching 13-Month High, Altcoins in the Red Except for DOGE, SHIB, and OP
Bitcoin reached a new 13-month high of almost $32,000 before being rejected and falling below $30,000. Most altcoins are also experiencing losses except for DOGE, SHIB, and OP. Ripple's native token, XRP, experienced significant gains after a judge ruled in favor of the blockchain company in its legal battle against the SEC, but has since retraced. The total crypto market is down by over $30 billion since yesterday.
Robert Kiyosaki Recommends Investing in Bitcoin Amidst Rising Stock Market and Predicts Giant Crash Coming Soon
Robert Kiyosaki, author of "Rich Dad, Poor Dad," has recommended investing in Bitcoin due to two interconnected reasons. Firstly, the stock market is rising, with the Dow Jones reaching its highest level since April last year. Kiyosaki attributes this to the removal of the US debt ceiling, which means the national debt will continue to rise along with the stock market. Secondly, Kiyosaki has warned of a "giant crash" coming soon, potentially caused by the creation of a new gold-backed currency for trading by BRICS countries. He advises readers to invest in Bitcoin, gold, and silver as soon as possible.
Cryptocurrency Prices Dip After Ripple's Court Victory Rally
After a surge in prices on Thursday following Ripple Labs' court victory, cryptocurrency prices have cooled off on Friday. Bitcoin, the largest cryptocurrency, dropped over 5% to a low of $30,076 from a high of $31,800. Ether also saw a drop to $1,910 after briefly surpassing $2,000 for the first time in two months. XRP experienced the biggest drop, trading at $0.69, down 25% from its peak of $0.93.
Cryptocurrency Rates Surge: Bitcoin, Cardano, TRX, MATIC, Litecoin, and Solana Experience Significant Growth
Most coins have seen a significant increase in their rates, as per the CoinMarketCap ranking. Bitcoin's rate has gone up by 2.23% in the last 24 hours and is currently trading near the resistance at $31,500. Cardano has seen a rise of 20%, but may witness a correction to the $0.32-$0.34 area soon. Solana has seen the biggest increase, with a blast of 26% in the last 24 hours, and may test the $35-$40 zone by the end of the month if bulls hold the price above the resistance at $26.80.
Bitcoin Breaks US$31,000 Resistance Level Following Ripple’s Partial Victory Against SEC
Bitcoin surged past the $31,000 resistance level on Friday after Ripple Labs won a partial victory in its three-year legal battle against the US Securities and Exchange Commission (SEC). The SEC had accused Ripple of offering XRP as an unregistered security. Other top 10 non-stablecoin cryptocurrencies, including Ether, also saw significant gains.
XRP Victory Signals Relief in Crypto, Perfect Storm Brewing for Cryptocurrency Prices to Surge
Cryptocurrency prices are on the rise again, with Bitcoin nearing $32,000 per coin and XRP experiencing a 100% intraday rally. This sudden change could be part of a perfect storm brewing in the crypto market, leading to a dramatic recovery and new all-time highs.
