Mark Cuban added that the primary drivers of the Bitcoin price trajectory lie in broader economic factors such as reduced tax rates and tariffs, historically viewed as inflationary triggers.
Although Bitcoin prices have recovered to around $65,000 recently, the number of BTC holders has not shown a significant rebound yet, which typically follows spot market recoveries by several weeks.
One of the standout features of the initiative is that it is totally backed by actual Bitcoin, pegged through the teleport process to ensure secure transactions.
Grantees will be required to actively contribute to Bitcoin’s technical development, which may involve participating in pull requests, conducting code reviews, or contributing to the ongoing evolution of the Bitcoin Core software project.
After registering over $1.4 billion in cash inflows last week, US-based spot Bitcoin ETFs reported over $420 million on Tuesday.
This rise in open interest indicates more people trading and speculating on Bitcoin price movements.
Deribit has over $2 billion in open interest in its perpetual and futures markets within the past 24 hours. Since 2020, the exchange has accounted for 70% of the $35.7 billion of the total $51.1 billion Bitcoin options trading volume in April 2024.
Wright’s actions have always drawn sharp criticism from the crypto community. In 2021, Ethereum founder Vitalik Buterin publicly called Wright a scammer.
Kaiko said that the arrival of spot Ethereum ETf could further improve the liquidity conditions for ETH. Additionally, it could also help in reducing ETH price volatility over time.
As the first half of the year drew to an end, Mt. Gox intensified efforts towards the repayment, stating that it would begin in July.
With the latest acquisition, its total Bitcoin holding now stands at 225.6 BTC, valued at over $14.5 million based on current market prices.
This 11.8-year dormant crypto wallet has successfully bagged a profit of about 496,603.31%.
Following the failed attack on Donald Trump, Bitcoin and the broader cryptocurrency market witnessed a strong surge on Sunday.
If China re-enters the crypto market, it could drive a major upward rally. Additionally, embracing Bitcoin could solidify China’s position in the global fintech landscape, enhancing international trade.
From a technical standpoint, Bitcoin price in the daily time frame broke out of a descending broadening wedge, thus signaling a possible rally towards $70K soon.