According to Odaily, despite the attention and capital inflow garnered by the nine newly launched Bitcoin spot ETFs in the United States in the first half of the year, their performance has been overshadowed by GBTC and EETH. Eric Balchunas, an ETF analyst, shared his observations on platform X, noting that GBTC and EETH have returned 62% and 44% respectively, outperforming the Bitcoin ETFs. In the beginning of the year, GBTC experienced a significant discount drop, yet it still managed to secure the top spot in terms of overall performance. The Bitcoin ETFs, despite their newness and the hype surrounding their launch, have not been able to match the returns of GBTC and EETH. Balchunas' analysis provides a clear picture of the current state of the cryptocurrency market, highlighting the performance of different investment vehicles. This report underscores the importance of careful analysis and consideration when investing in the volatile cryptocurrency market. While new investment opportunities such as Bitcoin ETFs can be attractive, they may not always deliver the expected returns. Investors are advised to thoroughly research and consider all available options before making investment decisions.

According to Odaily, there were no fund inflows or outflows observed in Grayscale's GBTC yesterday. In contrast, Fidelity's FBTC saw a net inflow of 65 million US dollars, and ARK 21Shares' ARKB experienced a net inflow of 13 million US dollars. This information was monitored and reported by Trader T. The significant inflow in Fidelity's FBTC and ARK 21Shares' ARKB indicates a positive trend in these funds. However, the lack of any fund movement in Grayscale's GBTC presents a contrasting scenario. The financial market's dynamics are constantly changing, and these fund movements provide valuable insights into the current market trends and investor behavior. The substantial inflow in Fidelity's FBTC and ARK 21Shares' ARKB could be a sign of increased investor confidence in these funds. On the other hand, the stagnant fund movement in Grayscale's GBTC might suggest a wait-and-see approach from its investors.

According to Odaily, Bitwise CEO Hunter Horsley announced on platform X that the company's Bitcoin Spot ETF (BITB) saw an inflow of approximately $40 million on Monday. This significant inflow indicates a strong interest in the Bitcoin Spot ETF from investors. The Bitcoin Spot ETF, known as BITB, is a financial product offered by Bitwise, a leading name in the cryptocurrency industry. The ETF allows investors to gain exposure to Bitcoin without the need to directly own the cryptocurrency. Hunter Horsley's announcement underscores the growing popularity of such financial products in the cryptocurrency market. The substantial inflow into BITB is a testament to the increasing confidence of investors in Bitcoin and related financial products. This development is a positive sign for the cryptocurrency market, indicating a robust demand for Bitcoin-based financial products.

According to Foresight News, Bitcoin miner Northern Data is reportedly considering an Initial Public Offering (IPO) in the United States as early as the first half of next year. The entity, which will be listed after merging with a cloud computing service named Taiga and its data center named Ardent, is estimated to be valued between $10 billion and $16 billion, as suggested by banks. Northern Data may also sell a minority stake in this department to investors before going public. In previous news from Foresight News, Tether had arranged a credit of $610 million for Northern Data in November 2023 and purchased stocks of Northern Data AG in September 2023.

On Jul 01, 2024, 23:17 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 63,000 USDT benchmark and is now trading at 63,001.109375 USDT, with a narrowed 0.11% increase in 24 hours.

According to BlockBeats, on July 2nd, Lookonchain monitoring reported that nine Bitcoin spot ETFs increased their holdings by 526 BTC, equivalent to approximately 33 million USD. Grayscale, one of the ETFs, reduced its holdings by 198 BTC, which is approximately 12.4 million USD. Currently, Grayscale holds 275,758 BTC, equivalent to about 17.34 billion USD. On the other hand, BlackRock, another ETF, increased its holdings by 1,366 BTC, approximately 85.9 million USD. At present, BlackRock holds 306,979 BTC, equivalent to about 19.3 billion USD.

On Jul 01, 2024, 15:12 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 63,000 USDT benchmark and is now trading at 63,001.300781 USDT, with a narrowed 2.19% increase in 24 hours.

According to U.Today, Michael Saylor, the cofounder and executive chairman of MicroStrategy and a well-known Bitcoin advocate, has used the X social media platform to comment on Bitcoin's recent nearly 5% surge. Over the past 24 hours, Bitcoin has regained the $63,000 level and even briefly surged above $63,560. Saylor encouraged bullishness on Bitcoin, addressing the global BTC community. Saylor responded to the sudden BTC price increase with a message urging the cryptocurrency community to sell U.S. dollars and buy Bitcoin. He tweeted the words 'Sell' and 'Buy.' The initials of these words, 'S' and 'B,' symbolize the U.S. dollar and the world's leading digital currency, respectively. Last week, Bitcoin fell from the $64,470 level, dropping by a significant 7%. The gradual recovery began on Friday, with BTC rebounding and staging a 3.35% recovery, surging to $61,980 by Sunday. The next increase pushed the largest cryptocurrency back above $63,000 and up over $63,500. Currently, Bitcoin is trading at $63,200. However, with the Mt. Gox crypto exchange set to start paying out BTC to investors this week, JP Morgan analysts expect a massive sell-off to begin. The exchange is expected to pay out $9 billion worth of Bitcoin. In other news, a recent report by the @lookonchain analytics account revealed that on June 28, spot Bitcoin ETFs saw a cumulative inflow of more than $36.5 million in crypto; nine ETFs added approximately 596 BTC. The Invesco Galaxy ETF witnessed the largest inflow – 152 BTC, followed by Bitwise Bitcoin ETF with 131 BTC, and the Fidelity exchange-traded fund with 109 BTC. The lowest inflow was seen by Ark Invest, which accommodated 30 BTC. Bitcoin ETFs have been dominating the market since mid-January when the U.S. SEC regulator granted approval to spot BTC funds, allowing them to begin trading. These ETFs have been accumulating Bitcoin daily. Before the halving in the second part of April, the ETFs scooped up more than 10,000 BTC per day.

According to CryptoPotato, Bitcoin's price is showing signs of recovery, raising questions about whether the recent correction has ended and if new all-time highs are still achievable. The price has been trending downwards since it failed to break above the $75K mark in early June. However, the $60K support level has proven to be robust, preventing further drops. Given the recent bullish candle, the market might be forming a bottom near the $60K mark and could soon start a new rally. This scenario remains valid as long as the $60K support level and the 200-day moving average, around the $58K mark, hold. The 4-hour chart also indicates a positive trend. The BTC price has finally broken above the bearish trendline that has been valid over the past month. This could be the first step towards a bullish reversal, provided the price stays above the trendline. The RSI is also showing values above 50%, suggesting that the momentum is turning bullish. As long as the price stays above the trendline and the $60K level, investors can remain optimistic that the correction has ended. On-chain metrics provide valuable insights into whether Bitcoin's price has truly found a bottom after weeks of bearish price action. The Bitcoin Exchange Reserve metric, which measures the amount of BTC held on exchange wallets, is one such metric. Increases indicate that investors are depositing their coins onto the exchanges for selling, while decreases suggest that holders are withdrawing their coins from the exchanges to keep in their personal wallets. The Exchange reserve metric has been rapidly declining over the past few months, although it has risen slightly recently. This suggests that many investors have likely sold their coins at the later stages of the recent price drop. While an increase in supply is generally not good for the price, it might indicate a capitulation phase that typically occurs at the end of bearish price moves. If the Exchange Reserve metric returns to its decreasing trend, the market could potentially reach a new all-time high soon.

According to Odaily, Michael Dell, the CEO of Dell Group, has announced the results of a community poll on platform X. The poll, which received over 64,000 votes, aimed to identify the 'most important thing'. Bitcoin emerged as the top choice, securing 43.1% of the votes. Coming in second place was 'love and interpersonal relationships', which garnered 39.2% of the votes. Artificial Intelligence (AI) was ranked third, receiving 9.3% of the total votes. The poll results highlight the growing significance of Bitcoin in the eyes of the public, surpassing even personal relationships and AI in perceived importance.

According to BlockBeats, Jameson Lopp, the co-founder of Bitcoin custody company Casa, has shared some intriguing information about Bitcoin holdings on social media. He revealed that out of the top 100 Bitcoin addresses, 44 have never recorded any outgoing transactions. These 44 addresses collectively hold a staggering 1,350,707 Bitcoins, valued at 85 billion USD. Lopp's revelation provides a glimpse into the concentration of Bitcoin wealth. The fact that these addresses have not recorded any outgoing transactions suggests that the owners are holding onto their Bitcoins, possibly anticipating future value appreciation. This could be an indication of the confidence these holders have in the long-term potential of Bitcoin. However, it's important to note that while these figures are significant, they do not necessarily represent the overall distribution of Bitcoin wealth. Many Bitcoin owners use multiple addresses for security and privacy reasons, so the actual number of individuals or entities behind these 44 addresses is unknown. Despite this, the information shared by Lopp offers valuable insights into the behavior of large-scale Bitcoin holders.

According to BlockBeats, Fundstrat's co-founder Tom Lee has reiterated his prediction that Bitcoin will reach $150,000. He also stated that the decade-long mystery surrounding Mt. Gox will be resolved in the second half of the year. In a previous report, Lee had stated in May that Fundstrat believes Bitcoin is still in the early stages of an upward cycle. Therefore, the idea that Bitcoin could reach $150,000 this year is still within the basic assumptions of the institution. Lee pointed out that this prediction is based on macroeconomic changes in the United States.

According to Odaily, Bitfarms, a Bitcoin mining company, has released its monthly production report. The report reveals that the company's mining output for June was 189 BTC, a 21% increase from the 156 BTC mined in May. However, this figure represents a 51% decrease compared to the same period last year. The report also noted that production cuts in Argentina and shutdowns in Quebec have reduced the total output. However, a 0.8% decrease in network difficulty compared to May has somewhat offset this impact. Despite the challenges, Bitfarms has managed to increase its monthly output, demonstrating resilience in the face of adversity.

According to Odaily, BitAcross, a Bitcoin ecosystem project, has announced the launch of its Bitcoin asset cross-chain bridge on the testnet. It is reported that BitAcross is built on Bitlayer and is supported by Litentry. The project aims to enhance the interoperability of Bitcoin assets across different blockchain networks. The testnet launch is a significant step towards achieving this goal. Further details about the project's progress and future plans were not disclosed in the announcement.

The global cryptocurrency market cap now stands at $2.34T, up by 3.11% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $61,346 and $63,818 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $62,836, up by 1.88%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include ZRO, MLN, and ENS, up by 25%, 24%, and 22%, respectively. Top stories of the day: QCP Capital Predicts Bullish July for Bitcoin (BTC) and Ethereum (ETH) 10x Research: Three Bullish Market Indicators Signal Bitcoin Surge, Driven by Biden's Campaign Performance Crypto Markets Begin Recovery Led By Bitcoin, Economic Data May Influence Further Growth Chile's Main Financial Market Opens Trading for Bitcoin ETF Galaxy Digital CEO Anticipates Potential Approval of Solana ETF by SEC Japanese Listed Company Metaplanet Announces Further Increase in BTC Holdings Solana's Meme Token Platform Pump.Fun Revenue Surges By Nearly 63% Polymarket Hits Record Highs in Monthly Trading Volume and Active Users Ethereum Spot ETF Launch and Token Unlocks Expected in July  Roaring Kitty Faces Lawsuit Over Alleged Stock Price Manipulation Market movers: ETH: $3479.28 (+2.39%) BNB: $582.2 (+0.83%) SOL: $147.53 (+4.26%) XRP: $0.4806 (+1.14%) DOGE: $0.12543 (+1.83%) ADA: $0.4004 (+3.04%) AVAX: $29.95 (+5.31%) TRX: $0.12568 (+0.22%) SHIB: $0.00001719 (+0.41%) WBTC: $62873.07 (+1.87%) Top gainers on Binance: ZRO/USDT (+25%) MLN/USDT (+24%) ENS/USDT (+22%)

In their recent article dated July 1, QCP Capital projected a potentially bullish month for both Bitcoin (BTC) and Ethereum (ETH). Despite some volatility, including a brief drop below the $60,000 support level last week, Bitcoin has shown resilience and a promising outlook for the upcoming month.Key Highlights:1. BTC Price Movement:  - BTC bounced back from the $60,000 area to reach around $63,700 at the beginning of the second half of the year.  - Despite briefly dipping below $60,000 last week, BTC's recovery signals strong market support.2. BTC Spot ETF Inflows:  - Last Friday saw a $73 million net inflow into BTC spot ETFs, marking the highest single-day inflow in two weeks.  - This significant inflow suggests strong investor interest and confidence in BTC.3. Seasonal Data:  - Historical data shows that BTC's median return in July is 9.6%.  - Notably, BTC typically performs well in July, especially following a negative return in June (-9.85%).4. Options Trading Insights:  - QCP Capital's options trading desk observed notable flows last Friday, preparing for a potential rally at the end of the month.  - This activity is likely in anticipation of the launch of an ETH spot ETF, which could further stimulate market bullishness.Market Outlook:All signs from QCP Capital's analysis indicate that July could be a bullish month for both BTC and ETH. The combination of historical performance, strong ETF inflows, and anticipated market developments (such as the potential launch of an ETH spot ETF) contribute to this optimistic forecast.

According to Odaily, the latest market data shows that Bitcoin (BTC) has once again fallen below the 63000 USDT mark, currently standing at 62864.5 USDT. The 24-hour increase has also narrowed down to 2.2%. This marks another fluctuation in the cryptocurrency market, which has seen a series of ups and downs in recent times. Bitcoin, the world's largest cryptocurrency by market capitalization, has been experiencing significant volatility, with its value oscillating around the 63000 USDT mark. The recent drop is part of this ongoing trend. Despite the drop, the 24-hour increase remains positive, albeit at a reduced rate of 2.2%. This suggests that while the cryptocurrency has experienced a dip, it is still showing signs of growth within the 24-hour period. The cryptocurrency market is known for its volatility, and Bitcoin is no exception. Investors and traders are advised to keep a close eye on market trends and make informed decisions based on the latest data.

In its latest market analysis, 10x Research identified three bullish market reversal indicators for Bitcoin. These indicators include Bitcoin being significantly oversold, the postponement of Ethereum ETF approval to around July 8, which delays the expected "sell the news" event, and President Biden's strong performance in the presidential campaign, providing an uplift for Bitcoin. Bitcoin has risen by 4% as Biden's refusal to let other Democratic candidates compete against former President Trump bolsters his re-election bid.Bitcoin’s RSI (relative strength index) - a temporary rebound?Key Indicators and Market Insights:1. Oversold Bitcoin: Bitcoin's oversold status has flipped market reversal indicators to bullish in the latest analysis.2. Ethereum ETF Approval Postponed: The delay in Ethereum ETF approval to around July 8 extends the timeline for significant market events.3. Biden's Campaign Impact: Biden's actions in the presidential campaign and his family's robust support for his re-election bid are seen as factors boosting Bitcoin.Biden vs. Trump: The Crypto AnglePolls indicate that Biden's re-election efforts face strong opposition:- Biden vs. Trump: Current polls show that even if Biden withdraws, other Democratic candidates like California Governor Gavin Newsom are unlikely to defeat Trump.- California's Challenges: Under Newsom's governance, California has faced issues like increased crime, rising homelessness, and the exodus of tech companies—factors that diminish his chances of nationwide voter appeal.Market Analysis and Predictions:1. Bitcoin RSI Rebound: The relative strength index (RSI) suggests a temporary Bitcoin rebound, as the cryptocurrency rallied by 4% after Biden's declaration to keep other Democrats from challenging Trump.2. Economic and Political Dynamics: The intertwining of economic indicators and political events continues to influence Bitcoin’s performance.Is the Bitcoin Trump Pump Sustainable?In the June 25 report titled "Bitcoin Is Holding The Line – For Now!" 10x Research emphasized that Bitcoin was deeply oversold, and all three reversal indicators turned bullish shortly after. The delayed Ethereum ETF approval and Biden's solid debate performance are argued to present a sustained bullish signal for Bitcoin.

According to Odaily, data from LookIntoBitcoin reveals that the total cost basis for short-term Bitcoin holders, those who have held for no more than 155 days, stands at $65,000. This suggests that these holders are currently facing losses or holding loss positions, and may attempt to exit the market under loss or break-even conditions, potentially increasing sell-off pressure around the $65,000 mark. An analyst from Blockware Intelligence stated in a recent newsletter, 'For the first time since August 2023, the Bitcoin price has fallen below the total cost basis of short-term holders. In the short term, we expect some resistance around approximately $65,000, as short-term market speculators may wish to exit their positions at the 'break-even' level.' The analyst added, 'Last summer, when Bitcoin lost the price support level realized by STH (short-term holders), the price stagnated for two months before breaking through again.' Meanwhile, long-term holders have a strong incentive to maintain or increase their reserves, as their average cost is less than $20,000, nearly 70% lower than the current market price of Bitcoin.

According to Odaily, Ordinals founder Casey has stated on platform X that runes and inscriptions will have programmability similar to Bitcoin. This implies that improvements to Bitcoin's expressiveness will also impact the performance of runes and inscriptions. For instance, OP_CHECKTEMPLATEVERIFY will allow public coin minting to be organized into OP_CTV trees, which will expand into UTXO subpages containing runes. This will enable users to obtain runes or conduct transactions that are not mined and do not pay any fees, thereby necessitating users to bid for participation in public coin minting and pay fees to acquire runes. SIGHASH_GROUP will allow for more flexible use of signatures to commit a group of inputs and outputs. It will permit the sale of variable quantities of runes from a single UTXO without the need for splitting, as users can commit to input UTXO, output runes, and payment output. This also makes it easier to elevate runes to the lightning network for some mysterious technical reasons. The standardization of the Taproot signature appendix, which carves out unstructured data, will allow for the creation of inscriptions in a single transaction, rather than requiring a commitment transaction and a reveal transaction. There are more new features to look forward to in the future.