The German and US governments are preparing to recharge and sell coins, but fortunately the amount is not large, and a few thousand coins will not cause much impact on the market. Tomorrow there will be a relatively important PCE data release, with an expected 2.6% and a previous value of 2.8%, which is good news, but the current expectations for the Fed's interest rate cuts have been delayed again and again, and the US dollar index has continued to rebound and is about to return to the position at the end of 2023. Obviously, it is not conducive to the inflow of funds into risky assets such as the cryptocurrency circle in the near future.
The Bitcoin ETF had a total net inflow of 21.4 million US dollars on June 26. See the figure below for detailed data. Grayscale has started to inflow again.
Yesterday, the airdrop collection rules of blast were widely complained. First, you need to watch the video and download the APP to complete the airdrop collection. Currently, 12,269,880,534.62 airdrops have been collected, accounting for 87.64% of the total airdrops. The number of addresses that have received them has reached 241,977. Wait for the smash. This boss is good at self-marketing, but his appearance is really ugly.
Crypto mining company Marathon Digital announced that it has launched Kaspa mining operations. Kaspa is an open source, decentralized and fully scalable Layer-1 protocol that uses proof of work as its consensus mechanism. Unlike Bitcoin, Kaspa uses BlockDAG (directed acyclic graph) and can generate multiple blocks at the same time. As of June 25, 2024, Marathon has mined 93 million KAS, currently worth about $15 million. The participation of large Bitcoin miners has also brought a considerable increase in KAS. KAS should have increased nearly a thousand times since its birth, and its market value is very large. It seems that everyone still has great enthusiasm and faith in this project. I haven't been in contact with the mining circle much. Is this the second FIL? ?
Reuters quoted industry executives as saying that negotiations between eight asset management companies, including BlackRock, and regulators have entered the final stage, with only the final minor revisions remaining. It is expected that the U.S. SEC may approve the Ethereum spot ETF as early as July 4.
The bitcoin price is still fluctuating and may continue to test 60,000 today. The trading volume is really too sluggish. Firstly, it is suppressed by the quarterly option delivery, and secondly, the expectation of interest rate cuts continues to weaken. I hope that there will be no panic again in July because of the compensation of Mentougou. In fact, it is not as terrible as imagined. However, if the negative news of Mentougou is released, then maybe July will be the bottoming month, and August may gradually get better. Just keep hanging on.
The second cake is still slightly stronger than the big cake, but they are basically linked.
The rebound of the altcoins has basically come to an end. Most of the currencies reached their highs yesterday, and we need to wait patiently for opportunities to buy at the bottom or cover our positions. If Bitcoin can really reach 58,000 again, it should be a good opportunity for demand intervention.
Bitcoin Panic Greed Index: 40 (Panic)
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