According to BlockBeats, the BitVol index, a measure of expected implied volatility derived from tradable Bitcoin options prices, has risen to 52.7, marking a daily increase of 4.42%. The index was launched by financial index company T3 Index in collaboration with options trading platform LedgerX. The implied volatility is the volatility implied by the actual options price. It is calculated using the B-S options pricing formula, where the actual price of the option and all other parameters except volatility (σ) are substituted into the formula to derive the volatility. The actual price of an option is formed by competition among many options traders. Therefore, the implied volatility represents the market participants' views and expectations for the future of the market, and is considered to be the closest to the real volatility at that time.

According to Foresight News, HIVE Digital, a cryptocurrency mining company, has released its financial report up to March 31, 2024. The report reveals that the company's revenue from digital currency mining, excluding its HPC business, stood at $111 million for the fiscal year. The total operating profit was $40.3 million, representing an operating profit margin of 36%. In addition, the company's Bitcoin mining ASIC computing power increased by 57%, growing from 3.0 Exahash in March 2023 to 4.7 Exahash in March 2024. Over the course of the fiscal year, the company mined 3,123 Bitcoins, including digital assets mined from GPUs. As of March 31, 2024, HIVE's balance sheet showed 2,287 Bitcoins, valued at $161.3 million. This significant growth in Bitcoin mining and revenue underscores the company's successful strategies and operations in the digital currency sector.

According to Blockworks, US spot bitcoin ETFs have seen net outflows for a seventh consecutive trading day, tying a record set earlier this year. The 10 funds, monitored by Farside Investors, have collectively lost assets each trading day from June 13 to June 24, excluding the Juneteenth federal holiday. The outflows have amounted to approximately $1.1 billion over these seven days, averaging $162 million per day. Fidelity’s Wise Origin Bitcoin Fund (FBTC) has experienced more capital withdrawal than the outflow-leading Grayscale Bitcoin Trust ETF (GBTC). However, the segment’s asset leader, BlackRock’s iShares Bitcoin Trust (IBIT), has managed to maintain slight inflows of about $21 million during this period. Overall, the net inflows of the fund category since their January launches have decreased to around $14.4 billion. This streak of outflows is almost unprecedented, with seven consecutive days of outflows occurring only once before, from April 24 to May 2, according to Farside Investors data. The negative flows during that period were slightly heavier, totaling about $1.2 billion. About half of this amount, $564 million, was withdrawn on May 1 alone. Analysts have partially attributed the outflow streak from April 24 to May 2 to investors taking profits after seeing significant price appreciation on their shares. The current net outflow streak coincides with a substantial dip in BTC price, which briefly fell below $60,000 on Monday and was around $61,760 at 11 am ET Tuesday, down 7% from a week ago. Industry analysts and executives have pointed out the absence of near-term catalysts for the asset, given the upcoming Mt. Gox repayments, miners selling their BTC holdings, and the Fed's decision to keep interest rates steady earlier this month. However, some anticipate bitcoin to reach a new all-time high above $73,000 in the coming months due to inflationary pressures, a potential Fed interest rate cut, and continued institutional adoption. The outcome of the US election in November could also act as a catalyst for BTC, depending on the winner.

According to Odaily, Nubank, the largest digital bank in Brazil, is set to integrate the Bitcoin Lightning Network. The bank reportedly has a customer base of approximately 100 million people. The integration of the Bitcoin Lightning Network is a significant move for the bank, potentially opening up new opportunities for its vast customer base to engage with Bitcoin and other digital currencies. This development is a clear indication of the growing acceptance and integration of digital currencies in the financial sector, particularly in banking. The Bitcoin Lightning Network is a 'layer 2' payment protocol that operates on top of a blockchain-based cryptocurrency, like Bitcoin. It is designed to enable fast transactions between participating nodes and has been touted as a solution to the Bitcoin scalability problem. The integration by Nubank, therefore, represents a significant step towards improving transaction speeds and efficiency for its customers. Further details about the integration process or when it will be completed have not been disclosed.

On Jun 25, 2024, 14:30 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 62,000 USDT benchmark and is now trading at 62,130.628906 USDT, with a narrowed 1.37% increase in 24 hours.

According to Odaily, HODL15Capital has disclosed data on platform X showing that the Hong Kong Bitcoin ETF has chosen to 'buy on dips' and increase its Bitcoin holdings during a market downturn. The data reveals that the Bitcoin holdings of three spot Bitcoin exchanges in Hong Kong on June 24 were approximately 3911, an increase of about 69 Bitcoins from the 3842 Bitcoins held on June 21. This strategy of buying more during a market low suggests a bullish outlook on the part of the Hong Kong Bitcoin ETF, despite the current market conditions.

According to CryptoPotato, the Crypto Fear and Greed Index, a tool that gauges market sentiment for Bitcoin and the wider cryptocurrency sector, has plummeted to its lowest level in nearly a year and a half. This comes in the wake of Bitcoin's fall below $60,000, its lowest level since early May. On June 24, the index dropped 21 points, entering the 'Fear' zone with a score of 30. This represents one of the most significant day-to-day declines in recent years and a shift from the 'Greed' zone, where it was at 74 just a week prior. Bitcoin also saw a significant price decrease of over 4% within the last 24 hours, hitting a seven-week low. The digital currency reached a low of approximately $58,400 on June 24 before making a recovery. As per CoinGecko data, Bitcoin is currently trading at $61,115. Several factors have led to this increase in fear. Over the past 10 trading days, Bitcoin spot exchange-traded funds have experienced substantial outflows exceeding $1 billion. Additionally, reports that the bankrupt Mt. Gox exchange might be preparing to liquidate $8.5 billion worth of BTC to its creditors have heightened the uncertainty. Despite these developments, some experts believe the market's reaction may be overblown. Samson Mow, an executive at Galaxy Digital, reassured the market that the Bitcoin dip is driven purely by sentiment and fear, not by the selling of large holdings. He emphasized that large entities are adept at not moving the market, citing the imbalance in ETF inflows a few weeks ago, where demand was 27 times the supply, yet the price remained mostly stable. The Crypto Fear & Greed Index considers various factors, including market volatility (25%), trading volume (25%), Bitcoin's dominance (10%), and trends (10%). Since reaching a peak score of 90 in the 'Extreme Greed' zone on March 5, when Bitcoin hit a high of $69,000, the index has been on a downward trend.

According to Odaily, Bitcoin's largest wallets have experienced the highest net inflow since the end of May. Just yesterday, whale holders, who control at least 0.1% of the total Bitcoin supply, increased their holdings by 7130 Bitcoins, valued at approximately $436 million. This significant increase in Bitcoin holdings by these major players indicates a strong confidence in the cryptocurrency's value and potential for growth. The surge in net inflow to Bitcoin's largest wallets could potentially influence the market dynamics of the cryptocurrency, given the substantial amount of Bitcoin these whale holders control. However, it is important to note that the cryptocurrency market is highly volatile and subject to rapid changes.

According to Odaily, Japanese listed company Metaplanet has announced the establishment of a wholly-owned subsidiary in the British Virgin Islands. The move is aimed at strengthening the strategic management of their Bitcoin (BTC) assets. Previously, the directors of Metaplanet had approved a plan to purchase Bitcoin, valued at approximately $6.25 million (1 billion yen). The establishment of the subsidiary in the British Virgin Islands is a strategic move by Metaplanet to enhance its management and control over its Bitcoin assets. This comes after the company's board of directors gave the green light for a significant investment in Bitcoin. The investment, which is estimated to be worth around $6.25 million, underscores the company's commitment to integrating digital currency into its asset portfolio. The decision by Metaplanet to invest in Bitcoin and establish a subsidiary for its management indicates a growing trend among corporations to embrace digital currencies. As the value and acceptance of Bitcoin and other cryptocurrencies continue to rise, more companies are exploring ways to incorporate these digital assets into their strategic plans. Metaplanet's move is a clear indication of this trend.

According to BlockBeats: on June 25, 10x Research tweeted that Bitcoin is currently severely oversold. Many opinion leaders are advising their followers to buy on dips while altcoins appear to be performing relatively stable. The 10x Research Greed and Fear Index is close to its historical low, a level typically associated with market bottoms. Key Points: 1. Bitcoin is Deeply Oversold: - Influencer Advice: Influencers are recommending buying the dip as Bitcoin seems deeply oversold. Meanwhile, altcoins are holding their ground relatively well. - Greed & Fear Index: The 10x Research Greed & Fear Index is nearing its lowest possible levels, often associated with market lows, indicating a potential buying opportunity. 2. Reasons for Bitcoin Sell-Off: Several factors are contributing to the ongoing Bitcoin sell-off: - Mt. Gox Distribution: Estimated $9 billion worth of Bitcoin distribution from Mt. Gox creditors starting in July. - German Government Sales: The German Government is reportedly selling $3 billion worth of confiscated Bitcoin. - Bitcoin Miners: Miners are selling approximately $2-3 billion worth of Bitcoin. - ETFs: Bitcoin ETFs are selling around $1.4 billion worth of BTC. - OG Wallets: Original Bitcoin wallets are liquidating about $1.2 billion worth of BTC. Hypothetically, this totals between $16-18 billion, comparable to the year-to-date Bitcoin ETF inflows. 3. Trading Signals and Market Predictions: - Sell Signals: Our trading signals have indicated multiple sell signals for Bitcoin.  - June 12: A new volatility signal predicted a decline when Bitcoin traded at $67,339.  - June 24: A price range signal indicated further declines when Bitcoin traded at $61,113. - Market Concerns: Despite some attributing the latest drop to Mt. Gox-related FUD and other influences, there appears to be a structural factor impacting the market. This could lead to more profound consequences and potentially deeper declines before a rebound from lower levels might occur. Additional Concerns: There's growing concern that more liquidity may exit the market, especially since the current price levels are near the break-even point for Bitcoin ETF buyers and miners.  - ETF Buyer Price: The average entry price for Bitcoin ETF buyers is around $60,000-$61,000. - Mining Costs: The average mining cost for Bitcoin miners is approximately $60,000 per Bitcoin. Both ETF buyers and miners may continue to sell despite influencers' and speculators' optimistic outlooks. Currently, Bitcoin is holding steady at $60,000, but the question remains: for how long? A potential decline to $50,000 is becoming increasingly plausible given the selling pressures. Bitcoin is at a critical juncture, deeply oversold with significant selling pressures from various sources. Influencers recommend buying the dip, but underlying concerns about liquidity and market fundamentals suggest caution. The next few weeks will be crucial in determining whether Bitcoin can maintain its $60,000 support or if a fall to $50,000 is imminent.

According to PANews, the South Korean State Council has approved the implementation of the 'Virtual Asset User Protection Law', which will come into effect on July 19. The law mandates that Virtual Asset Service Providers (VASPs) must ensure user deposits through banks. Additionally, VASPs have the right to halt user cash deposits as well as deposits and withdrawals of virtual assets for reasons stipulated by the law. Previously, it was reported that the Financial Services Commission plans to establish a Virtual Asset Committee, responsible for providing advice on policies and regulations for the cryptocurrency market.

According to BlockBeats, on June 25th, data from Arkham revealed that a wallet marked as 'German Government' made another transfer of 500 BTC to a certain address. The total value of this transaction is estimated to be around 30.42 million USD. The transfer was made at 17:06 Beijing time. The recipient of this substantial amount of Bitcoin remains undisclosed. The German Government's involvement in cryptocurrency transactions is not a new phenomenon, but the size of this particular transfer is noteworthy. The reasons behind this transaction and the identity of the recipient are yet to be disclosed. This event underscores the increasing acceptance and use of cryptocurrencies by governments worldwide.

According to BlockBeats, Canadian rapper Drake recently lost over $1 million in Bitcoin betting on the NBA Finals and the Stanley Cup Finals. Drake initially placed a bet on the Dallas Mavericks to win the NBA Finals, resulting in a loss of $500,000 in Bitcoin. Subsequently, he bet on the Edmonton Oilers in the NHL Stanley Cup Finals, leading to another loss of $500,000 in Bitcoin. Drake shared his betting slips on Instagram, stating that his choice of the Dallas Mavericks was due to his connections in Texas, while his selection of the Oilers was obvious. In recent years, the popularity of cryptocurrency betting has surged, with many Bitcoin casinos and betting websites vying to attract users. Furthermore, political betting markets like Polymarket have drawn attention due to high-risk events such as the 2024 US Presidential Election, with trading volumes reaching millions of dollars.

The global cryptocurrency market cap now stands at $2.42T, up by 3.44% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $58,402 and $62,136 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $60,932, down by -1.93%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include LISTA, WIF, and FET, up by 31%, 21%, and 17%, respectively. Top stories of the day: Bitcoin Market May Experience V-Shaped Rebound, Analyst Mignolet Predicts Largest Digital Asset and Nvidia Experience Market Turbulence XRP Maintains Stability Amid Market Turbulence, Trading Volume Increases Hong Kong's Position As Major Asset Management Hub Remains Solid, Report Reveals AI Concept Coins Show Significant Increase Federal Reserve Falls Victim to Ransomware Attack, Claims LockBit FBTC Experiences Continuous Net Outflow, Reports Farside Investors Federal Reserve's Daly Cautions Against Premature Rate Relaxation Bitcoin Prices Drop As Mt. Gox Plans To Return Stolen Assets In July Digital Asset Investment Products Witness Second Consecutive Week of Outflows Market movers: ETH: $3361.81 (+0.10%) BNB: $570.1 (+0.04%) SOL: $135.19 (+8.29%) XRP: $0.4753 (+0.11%) DOGE: $0.12228 (+3.82%) ADA: $0.3893 (+4.17%) TRX: $0.12117 (+2.22%) SHIB: $0.00001712 (+1.48%) AVAX: $25.01 (+2.79%) WBTC: $60990.67 (-1.89%) Top gainers on Binance: LISTA/USDT (+31%) WIF/USDT (+21%) FET/USDT (+17%)

According to U.Today, Mt. Gox trustees have initiated the repayment process of Bitcoin and Bitcoin Cash to investors. This move marks a significant step in the redistribution of BTC and BCH that have been locked since the notorious 2011 hack. The Mt. Gox exchange, once the largest Bitcoin exchange globally, had to shut down after losing over 700,000 BTC in the hack. Since then, the process of repaying investors has been hindered by numerous legal and administrative challenges. The commencement of repayments is a crucial turning point in this ongoing issue. The redistribution of Mt. Gox funds could potentially have a significant impact on the market. The release of these funds might lead to substantial selling pressure for Bitcoin, which is currently struggling to maintain its price above key levels. The return of Bitcoin and Bitcoin Cash to investors is now in the final stages, as stated by Mt. Gox trustee Nobuaki Kobayashi. The repayment schedule is set to begin in early July 2024. According to the Rehabilitation Plan, repayments will be made in Bitcoin and Bitcoin Cash. The repayments will be carried out in collaboration with multiple cryptocurrency exchanges, ensuring the completion of essential data exchange and verification before the funds are released. Kobayashi emphasized that the team has put in a lot of effort to ensure the repayments are reliable and secure. This includes implementing technological solutions for safe transactions that comply with financial laws in each country and collaborating with cryptocurrency exchanges to set up repayment terms.

According to U.Today, a recent poll initiated by MicroStrategy chairman and cofounder Michael Saylor has revealed a strong bullish sentiment within the crypto community. The poll asked participants about their expectations for Bitcoin's annual appreciation in USD over the next ten years. The results suggest that a significant price boom for Bitcoin could be on the horizon. Nearly half of the respondents expressed extreme optimism about Bitcoin's future, anticipating substantial annual appreciation that could propel the cryptocurrency to unprecedented levels. The poll results showed that 22.4% of participants expect a steady rise of 10% to 19% annually. Meanwhile, 18% are even more bullish, predicting an annual surge of 20% to 29%. A hopeful 10.8% of respondents anticipate a 30% to 39% increase each year. However, the majority, a whopping 48.8%, envision a staggering 40% annual appreciation for over a decade. This optimistic sentiment comes at a time when Bitcoin is experiencing a significant downturn, having extended its drop near $60,000. Bitcoin recently extended its decline to lows of $60,581 in the early trading session today, marking a more than one-month low and a roughly 6% drop. This decline reflects lower demand for Bitcoin exchange-traded funds and monetary policy concerns, particularly about the Federal Reserve's ability to quickly reduce interest rates from a two-decade high. Despite reaching an all-time high of $73,798 in mid-March, Bitcoin has lagged behind traditional investments like equities, bonds, and gold this quarter. However, as the crypto community keeps a close watch on Bitcoin's price movement in the short term, Saylor's poll reflects expectations for Bitcoin's growth over the next decade.

According to U.Today, Tom Lee of Fundstrat recently appeared on the 'Odds Lots' podcast to discuss his Bitcoin predictions. Lee highlighted the unique nature of Bitcoin as an asset class, emphasizing its cooperative value. He explained that those who contribute to the Bitcoin network benefit from it, a characteristic that sets it apart from other asset classes. Lee's firm first wrote about Bitcoin in 2017 when it was valued at around $1,000. Fundstrat published a white paper at the time, identifying two main variables that determine Bitcoin's price: the number of active wallets and the activity per wallet. Lee stated, 'At that time, we made a simple projection. We said that in five years, by 2022, if the number of wallets went up by 70%, and activity per wallet went up by 40%, Bitcoin would be $25,000 by 2022.' Lee also praised Bitcoin as an 'incredible technology,' noting its security and the fact that it has never been hacked in its 14-year existence. He added that 'Not a single entry on the Bitcoin ledger is fraudulent.' However, he also acknowledged that over 80% of Bitcoin price moves are still explained by activity per wallet. Fidelity's Jurian Timmer has suggested that the underwhelming growth of the Bitcoin network could be the reason why the cryptocurrency failed to record record highs in recent months. On Monday, Bitcoin slipped below the $60,000 level for the first time in more than a month, touching an intraday low of $59,863, according to CoinGecko data. Despite this, Lee remains optimistic about Bitcoin's future, having reiterated his previous price target of $150,000 back in June.

According to Odaily, official data reveals that as of June 24, the Australian Monochrome Bitcoin Spot ETF holds 59 BTC, with an AUM (Assets Under Management) surpassing $558.9 million. This significant holding demonstrates the growing interest and investment in Bitcoin and other cryptocurrencies in Australia. The Monochrome Bitcoin Spot ETF is one of the many financial instruments that investors can use to gain exposure to Bitcoin without having to buy and store the cryptocurrency themselves. The ETF's substantial AUM indicates a high level of trust and confidence from investors. However, as with all investments, the value of the ETF's holdings can fluctuate with the volatile nature of Bitcoin's price.

According to PANews, an investor has reportedly made multiple purchases of Bitcoin on June 24th, acquiring around 4000 coins, and spending an estimated $235 million. These transactions have increased the investor's balance from 10548.73 BTC to 14407.96 BTC. The purchase price ranged between $59,462 and $61,215 per Bitcoin. The investor's significant acquisition underscores the continued interest in the leading cryptocurrency despite its recent volatility.

According to Odaily, an unidentified address has reportedly increased its Bitcoin holdings by approximately 4,000 on June 24. This increase is equivalent to about 235 million US dollars. The information was monitored and reported by HODL15Capital, a digital asset management company. The company did not disclose the identity of the address holder, maintaining the privacy inherent in cryptocurrency transactions. This significant increase in Bitcoin holdings indicates a strong confidence in the cryptocurrency market, despite its notorious volatility. The identity of the address and the reasons behind this substantial acquisition remain undisclosed.