Bitcoin has been “largely profitable” to investors, irrespective of the months of sideways movement witnessed since March 2024.
North Dakota Department of Financial Institutions (DFI) has revoked Binance.US’s money transmitter license due to non-compliance issues.
HashKey Global, a cryptocurrency exchange launched by Hong Kong’s HashKey Group for international customers, has entered the futures market with the launch of Bitcoin (BTC) and Ethereum (ETH) perpetual contracts.
The NFT market faced a significant reduction in trading volumes as compared to the 2021 bull market when the popularity of these tokens was at its peak.
Bitcoin’s decline triggered a chain reaction, impacting other cryptocurrencies, including Ethereum, which dropped 2.18% to around $3,440, while meme coins like Shiba Inu, PEPE, Dogwifhat, and Floki fell over 10%.
The recent notable cash outflows from US-based spot Bitcoin ETFs have increased overall crypto fear leading to ongoing altcoin selloff.
For Ethereum, Kaiko Research stated that the approval of the Ethereum ETF will lead to a long-term increase in price.
The liquidations primarily took place on centralized exchanges, with Binance recording the largest single liquidation order of around $4.21 million.
Favorable regulatory changes, such as the approval of spot Bitcoin ETFs, have contributed a lot to fueling this trend.
The analysis states that Ethereum currently presents a strategic opportunity for traders. For the short term, QCP Capital reiterated its prediction of no major immediate price movements for ETH.
One perk of utilizing the product is that miners who do so will only have to pay a 2% firmware fee, a figure lower than industry standard.
Greenpeace also accused banks of hypocrisy, noting that they promote green and sustainability goals while simultaneously investing in or financing the crypto mining industry for profits.
Gautam Chhugani and Mahika Sapra from Bernstein also believe that the digital currency could reach a circle-high of $200,000 by 2025.
Analysts suggest Bitcoin’s current consolidation phase could be beneficial for the bull run.
While traditional asset classes like equities, commodities, and bonds have given strong returns, BTC price has corrected by 5% in the second quarter.