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Bitcoin is down to one-month lows, and BTC price predictions are tending to assume worse is to come — how much lower can bears manage?
PLUS: BTC's positive vibes may be waning as outflows from BTC investment products rose for the first time in weeks. But mining is in a better state than it was a year ago.
The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
- 02:17France’s Right-Wing National Rally Plans to Promote Legislation Supporting Nuclear-Powered Bitcoin MiningAccording to a report by Jinse Finance, citing France's Le Monde, the French right-wing party "Rassemblement National" plans to propose a bill to use surplus electricity from nuclear power plants for Bitcoin mining. Party member Aurélien Lopez-Liguori began drafting the relevant legislation in July. The proposal aims to deploy high-performance computers at nuclear power plants operated by French energy giant EDF, participating in blockchain network operations by performing complex calculations to earn newly minted Bitcoin as a reward.
- 02:12A Smart Money Address Suspected of Selling 38,582 ETH Worth Approximately $138 Million Over the Past WeekAccording to Foresight News, monitoring by @ai_9684xtpa indicates that a smart money address has allegedly sold 38,582 ETH over the past week, worth approximately $138 million, which would yield a profit of $36.57 million if sold. Judging by the operations, this address likely belongs to an institution. Since the beginning of this year, it has withdrawn a total of 77,700 ETH (about $202 million) from a certain exchange, with an average price of only $2,600. The address currently still holds 25,054 ETH on-chain, most of which is deposited in Aave.
- 02:12Whale qwatio reduces position from $300 million to $195 million, unrealized profit drops to around $2 millionAccording to Foresight News, as monitored by Ember, the whale known as qwatio expanded their position to $300 million yesterday by maximizing leverage and rolling over unrealized profits. However, as the market saw a slight rebound today, their position was reduced to $195 million at 9:00 (UTC+8). At the same time, unrealized profits also dropped from $11.22 million yesterday to the current $2 million.