Former Coinbase Exec Loses Millions Betting on Inflation, New Platform Reports Lower Inflation Rates Than US Government
July 4 (Cointime) - Former Coinbase executive Balaji Srinivasan continues to bet on inflation, despite losing $1.2 million on his previous prediction that Bitcoin would surpass $1 million per coin due to inflation.
Bitcoin's Rate Stabilizes in the Middle of the Channel, Consolidation Expected at $31,000
July 4 (Cointime) - According to CoinMarketCap, buyers are still in control of the cryptocurrency market. The rate of Bitcoin has risen by 1.08% in the last 24 hours, but it is currently trading in the middle of the channel between $30,900 and $31,108.
Bitcoin Price Prediction: Testing the Key Psychological Level of $31,000
July 4 (Cointime) - Investors are closely monitoring Bitcoin's price as it tests the key psychological level of $31,000, with the market eagerly anticipating its next move. Technical analysis suggests that Bitcoin is currently facing resistance near the $31,000 level, but the presence of a bullish engulfing candle on the daily timeframe suggests a strong possibility of a bullish trend.
Renowned Trader Peter Brandt Skeptical of Bitcoin Replacing U.S. Dollar
July 4 (Cointime) - Renowned trader and cryptocurrency analyst Peter Brandt expressed doubt about Bitcoin replacing the U.S. dollar, citing the importance of fiat currencies in his daily life.
Institutional Investors Focus Strongly on Bitcoin as Cryptocurrency Surges to New Highs
July 4 (Cointime) - Institutional investors have been showing a strong interest in Bitcoin as it continues to surge and reach new price highs. According to CoinShares' Head of Research, Bitcoin-related products attracted $310.6 million in inflows over the past two weeks, marking a notable shift from the previous nine consecutive weeks of outflows.
$105 Million in BTC Moved to Exchanges as Price Reclaims $30,000: Glassnode
July 4 (Cointime) - Bitcoin miners have transferred $105 million worth of BTC to exchanges as the cryptocurrency surpassed the $30,000 price point, according to Glassnode. This is the second-largest US dollar-denominated transfer on record. Glassnode also reported a 211% increase in the volume settled on the Bitcoin network year-to-date, indicating improved network utilization.
Canadian Teens Charged with Stealing $4.2M in Bitcoin and Ethereum Through Spear Phishing Attack on Coinbase User
July 4 (Cointime) - Two Canadian teenagers have been arrested and charged with stealing $4.2 million worth of Bitcoin and Ethereum by posing as Coinbase support and gaining unauthorized access to a victim's exchange account. The teenagers reportedly had control over a total of $13.4 million in cryptocurrency.
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.
Bitcoin Supply In Profit Has Registered An Uptick Recently
July 4 (Cointime) - According to on-chain data, 75% of the circulating supply of Bitcoin is currently in profit, which could lead to a potential drop in the asset's price. The "supply in profit" indicator measures the total amount of Bitcoin currently holding an unrealized gain. As more investors come into profit, they become more likely to sell, making a widespread selloff more probable.
Cryptocurrencies Back in Fashion As Total Market Cap Grows by Over 50% in Six Months
July 4 (Cointime) - The total market capitalization of cryptocurrencies has increased by over 50% in the first half of the year, with Bitcoin's price remaining near its yearly high. Ethereum, Litecoin, and Ripple have also seen an upward trend. Despite ongoing scandals and lawsuits, investors remain optimistic about the cryptocurrency industry, with Bitcoin's performance being a major factor.
