🔥 Bitcoin Halving is in just a few days Bitcoin mining co | TopCryptoNews on Binance Square

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🔥 Bitcoin Halving is in just a few days 
Bitcoin mining cost history:
$590 until 2016
$6800 until 2020
Currently it is ~$50,000.
The cost of mining will double after Halving in 2024... the price must too for mining to remain profitable. 
$BTC #etf #BTC #Halving 

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📈 Bitcoin Long-Term Holders Remain Resilient Amid Deepest Correction of Current Price Cycle This is despite the market reaching a new cyclical all-time high before the halving event in April, an unprecedented occurrence. Bitcoin long-term holders are showing remarkable resilience amid the deepest correction of the current BTC price cycle, according to crypto analytics firm Glassnode. In the latest edition of its weekly newsletter, The Week Onchain, Glassnode highlighted the strength of Bitcoin holders despite significant market downturns. Bitcoin is facing its most substantial drawdown of the current bull market, yet its steadfast “diamond hands” are not showing signs of panic. Glassnode noted, “If we look at performance indexed to the date of the Bitcoin halving, we can see that the current cycle is one of the worst performing.” This is despite the market reaching a new cyclical all-time high before the halving event in April, an unprecedented occurrence. Unlike previous well-known capitulation events, Glassnode’s analysis reveals that long-term holders are steadfast, even with BTC/USD hitting four-month lows of $53,500. The newsletter stated, “Looking at losses locked in by both Long-Term and Short-Term Holders, we note that the loss-taking events this week account for less than 36% of the total capital flows across the Bitcoin network.” Significant capitulation events in September 2019, March 2020, and May 2021 saw losses exceeding 60% of capital flows over several weeks, with contributions from both long-term and short-term holders. Long-term holders are defined as those holding Bitcoin for more than 155 days, while short-term holders have it for less, indicating a more speculative nature. Glassnode’s chart shows the lack of long-term holder participation in onchain selling at a loss during the BTC price drawdown. They stated, “Following 18 months of up-only price action after the FTX implosion and 3 months of apathetic sideways trading, the market has endured its deepest correction of the cycle.” $BTC #BTC #Bitcoin

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🌖 Terra Luna Classic (#LUNC ) Announces Oracle Split Logic Update, Futures Surge 20% Terra Luna Classic (LUNC) developers have completed the development of the Oracle Split, an update that is expected to spur a surge in staking.The split will divert community pool rewards from tax burns into the Oracle Pool, with the update expected to take effect on July 26 at block height 19060800. With staking being the pillar of any healthy DeFi ecosystem, the developers of Terra Luna Classic (LUNC) have announced a long-awaited update that will massively boost staking rewards in the ecosystem. As Crypto News Flash reported last month, one leading LUNC developer had proposed adjustments to the network’s burn tax distribution. His proposal allocated 10% of the tax to the Oracle Pool. In the Terra Luna Classic ecosystem, the Oracle module furnishes the network with up-to-date price feeds of exchange rates in the real world and is the foundation of the network’s DeFi. As one of the key developers revealed Wednesday, the Oracle split logic has finished and the testnet is ongoing. ✅ Oracle Split Logic Finished. ⌛️ Testnet ongoing. 📖 Commonwealth — fragwuerdig The Oracle split is contained in proposals 12098 and 12114, which are part of Release v3.1.0. It will divert community pool rewards to the Oracle Pool, slowing down its depletion rate (the rewards originate from the tax split. Under the existing mechanisms, Terra Luna Classic has a 0.5% burn rate—80% of it goes to burns, and the remainder is distributed to rewards and the Community Pool. It is this 20% that the new proposal targets, recommending that it be split between the Community Pool and the Oracle Pool. The proposal isn’t popular in some quarters. A key grievance is its obvious implication on block rewards for LUNC validators—under the new mechanism, block rewards would come exclusively from gas fees. The annual percentage rate is also expected to dip by 0.5%. Some experts have even warned that passing the proposal could lead to immediate price declines. $LUNC

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Altcoin Opportunities Emerge as Bitcoin Struggles: SOL, AVAX, DOGE, XRP As Bitcoin (BTC) faces key technical hurdles, a recent analysis points to altcoins as a potential bright spot for crypto investors. The analysis shared in a recent video, breaks down Bitcoin’s price action and explores the possibility that this could be altcoins’ time to shine. The analysis highlighted Bitcoin’s current struggle with the critical 200-day moving average, suggesting the potential for resistance and squeezes ahead. While traders approach with caution, the analyst identified promising entry points, emphasizing longer-term timeframes and substantial weekly closures. Key resistance levels for Bitcoin lie between $59,000 and $60,000, with another formidable barrier near $63,000, the analysis pointed out. Navigating these zones could be crucial for capitalizing on potential squeezes. Should Bitcoin lose higher timeframe moving averages, it could signal a trend reversal, leading to either consolidation or a downturn. This scenario might divert attention from Bitcoin toward altcoins like Solana (SOL) and Avalanche (AVAX), shifting market dynamics. Solana, currently trading at a promising entry point, has shown resilience by rebounding from lows around $121. AVAX has also positioned itself favorably within bounce zones. The token has gained entry into the analyst’s portfolio, positioned favorably within bounce zones amidst evolving market conditions. Additionally, Ripple-affiliated XRP has displayed signs of recovery, although further market developments warrant cautious optimism. Beyond the altcoin leaders, even meme coins are showing signs of life. Dogecoin (DOGE) has broken out from previous levels and is undergoing a bullish retest phase, suggesting potential upward momentum. While Bitcoin grapples with resistance, the evolving landscape could present a favorable environment for altcoins to recover and strengthen their positions. Solana and AVAX stand out for their resilience and potential for further gains. #sol #avax #doge #xrp

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💥 DOGE holders may sell if it rises above key accumulation zone ● DOGE will reclaim a key level if it rises by 5%, and traders will likely sell as they break even. ● DOGE's social volume has reached its lowest level in the past year. ● DOGE has underperformed other top meme coins year-to-date. DOGE is down more than 1% on Thursday, following key details from its on-chain data revealing a potential support level and buy zone amid market uncertainty. 🔸 Why the coast looks gloomy for DOGE DOGE will reclaim a major support level if it rises by 5% above $0.112. IntoTheBlock's data shows that more than 84K addresses purchased 35.12 billion DOGE around $0.103 to $0.112. However, with uncertainty still saturating the market and many expecting a slow July for cryptocurrency prices, the $0.112 level could flip to a resistance. Considering it is DOGE's largest accumulation zone, most investors who purchased the largest meme coin at the $0.112 level may consider de-risking after they break even. The current market quietness could also prove a buy-the-dip opportunity. Since June, DOGE saw its lowest social volume in the past year, hovering around 131 to 145. Also, DOGE's Market Value to Realized Value (MVRV) 30-day ratio at -8% is a potential buy signal in preparation for future price growth. However, it's key to note how DOGE has underperformed other meme coins in the top 100 category. Other meme projects like PEPE, WIF, BONK, FLOKI and BRETT have seen an influx of capital and new users while DOGE lags. Hence, DOGE may respond slowly to bullish market triggers, unlike the 2020/2021 cycle, when it was the only major meme coin in the top 100. In the short term, DOGE could see several shorts liquidated if it rises to $0.111, which has a liquidation leverage of 52.43, according to Coinglass data. Meanwhile, Ethereum-based meme coin MOG coin has been a standout cryptocurrency in the top 200 after rising 17% in the past week. $DOGE #DOGE

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🇩🇪 Germany Almost Done Selling Bitcoin, Holding Less Than 5K Tokens After Latest Moves The German state of Saxony is quickly running out of bitcoin (BTC) to sell after moving another batch of its confiscated assets to crypto exchanges and brokers on Thursday. Bitcoin wallets linked to the German authorities transferred a total of 10,567 BTC worth over $600 million in multiple batches during the day to crypto exchanges Bitstamp, Coinbase, Kraken and other service providers such as Flow Traders and Cumberland DRW, blockchain data by Arkham Intelligence shows. After today's transactions, the wallets linked to the authorities held only 4,925 BTC worth $285 million at current prices, down from the 50,000 BTC worth nearly $3 billion since they started selling the assets three weeks ago. This means that Germany's bitcoin selling spree could be over as soon as Friday or early next week at the current pace, given that the wallets unloaded roughly 35,000 BTC so far this week. The tally could change in the later hours because of the wallet's odd practice of receiving a part of the transferred assets, at times in the $10 million range, back from exchanges and brokers before the end of the day. (Greg Cipolaro, the head of research at digital asset manager NYDIG , called the on-chain activity "perplexing" in a Wednesday note.) The looming finish of Germany's $3 billion selling spree could allay crypto investors' fears, who have been fixated on the on-chain movements of large potential sellers on the market over the past few weeks, tying the recent downturn in asset prices to concerns over supply overhang. Bitcoin's 15% correction over the past month coincided with the U.S. government, which holds over $12 billion in seized bitcoin, moving $240 million worth of Silk Road-related BTC to Coinbase and the estate of the defunct Japanese exchange Mt. Gox starting repayments of 140,000 BTC to creditors this month, who might want to cash out after ten years of waiting. #German $BTC #BTC

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