Trump will speak at Bitcoin 2024 summit as bitcoin price struggles at $58,500
Wednesday was the third straight day of Bitcoin spot ETF inflows.
Bitcoin may fall after the German government transferred 10,853 BTC on Wednesday.
Donald Trump will appear at Bitcoin 2024 in Nashville on July 27.
On-chain data reveals modest Bitcoin wallets liquidating as whales and sharks multiply.
Bitcoin (BTC) price rises 0.5% on Thursday, but it fails to break over the weekly resistance mark of $58,500 due to on-chain data showing minor Bitcoin wallet liquidation and a spike in whales and sharks. Bitcoin's price may drop once the German government transfers 10,853 BTC worth $637.67 million. On Wednesday, Bitcoin spot ETFs received $147.40 million for the third day in a row.
The Bitcoin Conference Twitter account stated that Donald Trump, the 45th US president, would speak at Bitcoin 2024, the world's biggest Bitcoin conference in Nashville, Tennessee, on July 25 to 27. This declaration follows Trump's support of Bitcoin (BTC) and the Republican party's promise to integrate the cryptocurrency into their platform while protecting Bitcoin mining and self-custody.
Bitcoin 2024 seeks to build on Miami's conference success. Bitcoin 2021 got notice after El Salvador's President Nayib Bukele legalized Bitcoin. Other notable events in 2022 and 2023 included US Presidential contender Robert F. Kennedy Jr.'s Bitcoin industry backing.
Arkham Intelligence reported that the German Government's "Bitcoin billionaire" title terminated on Wednesday, leaving 13,360 BTC worth $784.96 million, 26.8% of Movie2k's Bitcoin. In particular, Blackrock's wallet buys German government-sold Bitcoin.
BTC also trades below a declining trendline after joining many swing high peaks from early June to mid-July.
BTC may gain 9% to $63,956 if it breaks over the falling trendline and weekly barrier at $58,375.
On July 5, the daily chart formed a lower bottom while the RSI indicator reached a higher high. Bullish divergences can cause trend reversals or short-term rallies.
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