On June 24, MtGox stated that preparations for BTC repayment are ready and repayment will begin in early July 2024.
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South Korea's financial regulatory authorities will implement the "Specific Financial Transaction Information Reporting and Supervision Provisions" on the 27th, clarifying the compliance system of virtual asset operators. The regulatory authorities have solicited relevant opinions from the virtual asset industry and related institutions through regulatory change announcements from the 24th of last month to the 3rd of this month, and have passed the review process. In the new regulatory regulations, the competent authorities will first report the compliance system of virtual asset-related laws and regulations, including the "Specific Financial Information Act" and the "Virtual Asset User Protection Act". Teresa Goody Guillen, a former litigation lawyer at the U.S. Securities and Exchange Commission (SEC), said that the SEC previously ended its investigation into Consensys' "ETH2.0" in order to avoid being sued. Coinglass data shows that BTC's volatility in the past 30 days is 1.25%, a record low. According to Santiment statistics, the total number of BTC whale transactions has decreased by 42% from the previous two days, and whale traders who bet on the future price of BTC have also retreated. Lin, head of Deribit, said that last week, there was a net outflow of BTC spot ETF for five consecutive days, with a total weekly net outflow of 544 million US dollars. The data can be continuously observed, and call options may be held after the trend reverses and net inflows are achieved. Nate Geraci, president of The ETF Store, predicted that by this time next year, the assets of spot cryptocurrency ETFs will exceed those of physical gold ETFs. The spot ETH ETF may be launched in the next week or so. Andrew Kang, co-founder of Mechanism Capital, said that this is the first cycle and complete bull market for many people, which is surprising.
Throughout the bull market, BTC's multi-day decline has been extremely limited, only about 20%. Don't bet all BTC on one transaction. Different cycles, different forms, will see BTC reach new highs in 2025, but This does not mean that extreme corrections will not occur on the one-month time frame. Mechanism Capital co-founder Andrew Kang said that issuers do not have much time to convince large holders to convert their ETH to ETFs. Unless ETH develops a convincing path to improve its economic situation, the ETH price will not change accordingly. The adoption of spot ETFs has gained too much upside, and ETH/BTC is expected to be between 0.035 and 0.06 in the next year. On June 24, MtGox said: Preparations for BTC and BCH repayment are in place, and repayment will begin in early July 2024 in the order in which the trustee completes the exchange and confirms the required information on the cryptocurrency trading platform. Galaxy research director Alex Thorn said that 141,868 BTC, according to calculations, is expected to be used to pay claims, about 95,000 BTC, of which about 20,000 BTC will be allocated to claimants of the fund, 10,000 BTC will be allocated to Bitcoinica BK, and there will be about 6,500 are allocated to individual creditors (the number of 6,500 is far lower than the 141,868 previously released by the media), so the final number of tokens distributed for compensation will be lower than market expectations. Bloomberg: Due to the uncertainty of the Federal Reserve’s monetary policy, the digital asset market suffered its second largest weekly decline since 2024. The index covering the top 100 digital assets by market capitalization fell by approximately 5%, which was the largest decline since April this year. IntoTheBlock said that long-term BTC holders started selling in January and long-term ETH holders are still accumulating. Historical data shows that this kind of profit-taking usually starts in the early stages of a bull market and continues beyond the peak of the cycle, so observe This activity helps estimate market peaks more accurately.
On June 24, Justin Sun's address increased its holdings by 4,628.9 ETH◇In the past three days, the address has accumulated 13,967.7 ETH, with an average price of $3,497. Since December 2023, Justin Sun's ETH positions have increased to 410,066, about $1.4 billion, with an average price of $3,015. Gautam Chhugani and Mahika Sapra, analysts at asset management company AllianceBernstein, predict that BTC will reach a cyclical high of $200,000 by 2025, and say that strong demand for spot BTC ETFs is the main driver of its growth. Standard Chartered Bank will set up a BTC and ETH spot trading platform in London, becoming one of the first global banks to enter spot cryptocurrency trading. Michael Dell, CEO of technology giant Dell Group, retweeted Microstrategy founder Michael Savlor's tweet "BTC represents digital scarcity." A cartoon poster containing BTC was also released, but BTC was not directly mentioned. Bitcoin hit $59,700. "Extreme rise and extreme correction" has always been the characteristic of BTC. It took only half a month to rise from $59,700 to $73,000, and three months to fall from $73,000 to $59,700. In the bull market cycle, downward resistance is greater than upward resistance (it is different from cottage, each direction is very fast, showing the importance of configuring Bitcoin). When the next stimulus node is released by the Federal Reserve, spot ETFs begin to flow in, and Bitcoin's rise will be just as easy. Some people may think that the old man has no confidence, but that's not the case. A few months ago, I often wrote that the first wave may end in March, may rebound in May, continue to fall in summer, and resume the bull market in autumn and winter. This has nothing to do with confidence, it's just the common sense that the old man has engraved as an old leeks (many other old leeks have similar views). The old man doesn't think this bull market cycle is any different from the previous ones. The previous rise has been smooth, and the middle is experiencing a correction. It takes time. The old man is waiting for the next stage of rise, and the process is not complicated. #Mt.Gox将启动偿还计划 #美联储何时降息？