Cryptocurrency Prices Expected to Breakout Soon: Bitcoin Struggles to Stay Above $31K, XRP/USDT Pair May Drop to $0.41
Bitcoin's resistance at $31,000 could result in liquidations if it fails to break above it, while Binance CEO CZ predicts a bullish future for Bitcoin post-2024 halving and suggests that BlackRock's involvement in the crypto market will be beneficial. The top 10 cryptocurrencies, including BTC, ETH, BNB, and XRP, exhibit positive sentiment, with potential breakouts anticipated, but readers are advised to conduct their own research before making any investment decisions as stated in the article.
Bitcoin hovers above $30,000 amid signals of potential rate hikes
Bitcoin remained just above $30,000 on Friday as investors anticipate potential rate hikes this year. Despite the hawkish news, bitcoin bulls held their ground. However, Nexo co-founder Antoni Trenchev believes that bitcoin needs a fundamental driver to break out of its current range and reach its 13-month high. Investors are closely watching for inflation data expected on Wednesday, which could potentially cause bitcoin to rise or fall depending on the outcome.
Over $140M in Crypto Liquidated as Bitcoin Retraces from 2023 High
In the past 24 hours, the sudden dip of Bitcoin from its 2023 high has resulted in hundreds of millions of dollars worth of crypto assets being liquidated. Coinglass, a market intelligence firm, reports that nearly $140 million worth of digital assets were liquidated from major crypto exchange platforms.
Fake Police Officers Are the Bad Actors in a Rising Crypto Scam
The city of Calgary in Alberta has issued a warning about a crypto scam where fraudsters impersonate police officers and convince victims to pay legal fees or lawyer fees. The scammers often use high-pressure tactics and request payment in Bitcoin, making it difficult to trace the funds.
Ark Invest Report Shows Growing Support and Improved Institutional Sentiment for Bitcoin
Asset management firm Ark Invest has reported growing support from strong holders and improved institutional sentiment towards bitcoin. Nearly 70% of the circulating supply of bitcoin has not been moved for at least a year, indicating a strengthening holder base and the confidence of long-term investors.
Data: A Giant Whale Transferred 50 Million USDC to Binance From July 2nd to 6th
According to JieData data, the giant whale address starting with 0x89df transferred all of its 50 million USDC to Binance from July 2 to July 6. The address transferred 45 million USDC to Binance on March 11, before the price of Bitcoin rose.
Binance CEO Predicts Next Bitcoin Bull Market in 2025
Binance CEO Changpeng Zhao has predicted that the next Bitcoin bull market is most likely to occur in 2025, following the Bitcoin halving event in 2024. In a Twitter "ask me anything" session, Zhao also welcomed BlackRock's entry into the spot Bitcoin ETF arena, stating that it is "hugely beneficial" for the crypto industry. He brushed off concerns that BlackRock could eat up Binance's market share in the future, citing minimal overlap between their respective customer bases.
Binance CEO CZ Explains Support for Bitcoin and Decentralization of Child Networks
Binance CEO Changpeng Zhao (CZ) has stated that he is a strong supporter of Bitcoin (BTC) despite the company's focus on developing other cryptocurrencies and blockchains. CZ also addressed concerns about the decentralization of Binance's blockchains, stating that the company prefers to let its child networks remain independent.
The Fate of Bitcoin's Price Hinges on Approval of US Bitcoin Spot ETF
July 5 (Cointime) - The fate of Bitcoin's price for the rest of the year depends on whether a Bitcoin spot ETF will be approved in the US. Joe Carlasare, a commercial litigator supporting Bitcoin, believes that there is a 30-40% chance of such a product launching within a year.
Traditional Finance Shows Increased Interest in Crypto ETFs, But Risks Abound
July 4 (Cointime) - Interest in crypto-based exchange-traded funds (ETFs) is growing among traditional finance firms, with BlackRock, Fidelity, and others submitting applications for Bitcoin-based ETFs. HSBC has become the first bank to offer Bitcoin and Ether ETFs to customers in Hong Kong.
Whales and Sharks Accumulate Over $4.7 Billion Worth of Bitcoin in Seven Weeks
July 4 (Cointime) - According to crypto analytics firm Santiment, large Bitcoin holders, known as whale and shark addresses, have been accumulating BTC at a higher rate than usual over the past seven weeks.
BIS and IMF Report Highlights Potential of Asset Tokenization, Criticizes Crypto Assets as Flawed System
July 4 (Cointime) - Bitcoin's critics argue that it fails to meet the textbook definition of money as a medium of exchange, unit of account, and store of value. However, the emergence of bitcoin has sparked a debate about the definition and usefulness of money.
Cosmos Faces Resistance at Bearish Order Block, Development Activity Flattens
July 4 (Cointime) -Cosmos (ATOM) is focused on reaching the $10 psychological level, but there are concerns about its short-term capacity to exceed that level due to some out-of-sync fundamental and technical indicators. Bitcoin (BTC) is fluctuating between $29.5k and $31.4k, with $30.8k being a key resistance level for bulls.
Experts predict only select few Bitcoin ETFs will be Successful
July 2 (Cointime) - Matthew Hougan of Bitwise has stated that only a few of the many contenders seeking approval from the US Securities and Exchange Commission to launch a spot bitcoin ETF will be successful. Hougan explained that ETFs are generally a "winner take most" market, with the first firm to market usually attracting the most assets under management. Second-to-market ETFs have a more difficult time competing, as they are competing with a larger and more liquid fund. Financial market titans Fidelity and BlackRock have filed alongside smaller brands like Valkyrie Investments, WisdomTree, and Invesco, and there is a possibility that the agency could greenlight all the recent funds that filed to level the playing field.
Bitcoin Volatility Continues as SEC Returns ETF Applications, Short-Term Holders Send Coins to Exchanges
July 1 (Cointime) - Bitcoin had a volatile trading session on the last day of the quarter, with short-term holders sending over 35,000 coins to exchanges, indicating nervousness among speculators. The SEC returned applications for a Bitcoin spot-price ETF due to a technical issue, causing a knee-jerk reaction, but the downside was limited as asset managers can refile after providing necessary clarifications. Meanwhile, XRP/USDT may drop to $0.41, but this level could attract strong buying from the bulls, and Polkadot's price is being supported by bullish investors attempting to break the overhead hurdle at $5.15. It is important to note that this article is for informational purposes only and does not provide investment advice.
Bitcoin Holds Above $30,000 as Fidelity Submits Spot ETF Application and Binance Faces Euro Banking Partner Troubles
June 30 (Cointime) - Bitcoin experienced a 2.36% increase from June 23 to June 30, reaching US$30,802 at 7:30 p.m. Friday in Hong Kong, while Ether rose by 0.55% to US$1,890 over the week. Fidelity submitted its spot Bitcoin ETF application, indicating a growing interest in cryptocurrencies among institutional investors. Binance faced issues in Europe and had to change its euro banking partner after Paysafe Payment Solutions stopped offering euro payment support for the exchange.
Presidential Candidate Robert F. Kennedy Says Bitcoin (BTC) Is a Bulwark Against Totalitarianism
June 29 (Cointime) - Robert F. Kennedy Jr., a presidential candidate, has pledged to protect the public's right to own and transact with Bitcoin if he is elected. Kennedy believes that Bitcoin is a safeguard against government and corporate intrusion, and people should have the right to own their private keys.
Fidelity's Bitcoin ETF Application Boosts Optimism as Bitcoin and Ether Rise
June 29 (Cointime) - Bitcoin and Ether experienced gains on Thursday in Hong Kong trading, as investor optimism remained high. Fidelity's upcoming submission of its own spot Bitcoin ETF application is viewed as a significant step towards legitimizing cryptocurrencies.
Polkadot's Price Consolidation Above $5 Amidst Fluctuating Open Interest Rates and Neutral Sentiment
June 28 (Cointime) - The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. Polkadot (DOT) has recovered from substantial losses in early June but has not yet reclaimed its April high of $7. DOT's price action has been constricting within the $5.0 - $5.21 range since 23 June and unless Bitcoin gives a clear direction, DOT's short-term range bound could persist. Open Interest (OI) rate fluctuations below $140 million have been marked by DOT's fluctuations above $5.0.
Bitcoin Retests $30,000 Support as Fed Chair Powell Signals More Interest Rate Hikes Coming
June 28 (Cointime) - On June 28, Bitcoin experienced another test of its $30,000 support level as the US Federal Reserve remained hawkish on inflation. Fed Chair Jerome Powell reiterated the consensus for further interest rate hikes this year during a discussion with other central bank heads.
