Bitcoin’s major divergence from the US equity market comes amid forced selling by BTC miners in order to cover their operational costs.
The future movement of Bitcoin’s price largely depends on stablecoin holders, especially those holding USDT and USDC.
The German Federal Criminal Police Office (BKA) sent another 100 BTC ($6.2 million) to Coinbase, 150 BTC ($9.4 million) to Bitstamp, and 32.74 BTC ($2 million) to Kraken on July 2, according to Arkham.
This shift suggests that investors are increasingly opting to hold onto their crypto assets rather than selling them, a potential sign of growing market stability.
Bitcoin has faced a big drop in its price recently, raising concern among investors and market watchers. Over the past 30 days, the cryptocurrency has witnessed a notable decrease of 7% in its value.
The Mesh and Conio’s integration is focused on Europe as it is well bolstered by the recently rolled out MiCA regulations.
This market outlook is bound to question the sentiments of critics like Peter Schiff who have constantly spoken against Bitcoin’s status as a “safe haven”.
The German government has joined Bitcoin miners in a selling spree over the past few weeks, thus weighing on the bullish momentum.
Historically, after every downtrend in June, Bitcoin price has demonstrated an average return of 7.98% and a median return of 9.60% during July.
Metaplanet’s Bitcoin holdings contain 161.26 Bitcoin units with each coin purchased at an average price of $63,580. This holding is valued at $10.25 million.
In addition to withdrawing the ban, Bolivia wants to launch an educational campaign to increase crypto awareness in the region.
Bitcoin (BTC) price has suffered bearish sentiments in the past few weeks fueled by heightened selling pressure from whales.
Having a ratio that is higher than one means that more put options are being traded compared to call options.
JPMorgan analysts suggest that these cash repayments could positively influence the crypto market, as crypto-friendly creditors are likely to reinvest their funds back into cryptocurrencies.
Fuse Network, a decentralized network compatible with the Ethereum Virtual Machine (EVM), has announced a strategic partnership with NexusPay to revolutionize cryptocurrency payment systems.