Bitcoin Falls Below $63,000 On August 1, according to HTX | LouisKCrypto on Binance Square

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Bitcoin Falls Below $63,000 
On August 1, according to HTX market data, Bitcoin has fallen below $63,000, decreasing by 5.41% in the past 24 hours.
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#Bitcoin❗️  #BTC☀  #MarketUpdate  #cryptomarket  #Blockchain 

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Bitcoin Faces Data Availability Challenges, Layer 2 (L2) Scaling Solutions May Need Consideration Bitcoin faces significant challenges as a data availability (DA) layer. The main points are as follows: Limited Block Space: The upper limit of Bitcoin's block size is 4MB, and data released by ZK-Rollup every 6-8 blocks can occupy 10% of the block space. High Costs: At a rate of 10-50 sat/vByte, the monthly data publishing cost for Rollup is approximately $460,000 to $2.3 million. Economic Viability: Rollup needs to handle a large volume of transactions each month and charge sufficient fees to be profitable. For example, with a monthly transaction volume of 20 million, the transaction fee needs to be $0.05-0.23 to break even. Increased Competition: The introduction of Rollup will increase competition for block space, potentially raising transaction fees for all users. Alternative Options: If costs are too high, Rollup might switch to alternative DA layers like Celestia or develop L3 solutions. Security Trade-offs: Using Bitcoin as a DA layer is very costly but offers great decentralization and security. #Bitcoin❗ #Layer2 #Blockchain #Write2Win #cryptonews $BTC

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Montenegro Court Facilitates Extradition of Do Kwon to South Korea On August 1, according to Bloomberg, Montenegro's appellate court upheld the decision to extradite Do Kwon, co-founder of Terraform Labs Pte., to his home country of South Korea, rejecting the request to extradite him to the U.S. Thursday's ruling is the latest in a series of decisions for Montenegro, which is facing dual requests from the U.S. and South Korea for the extradition of the disgraced crypto mogul. The Podgorica court stated in a Thursday statement that there were no appeals against the decision. The ruling also maintained the expedited extradition procedures previously issued by another Montenegrin court. After the ruling was announced, Do Kwon's lawyer, Goran Rodic, told Bloomberg that Montenegro would arrange the extradition with the assistance of Interpol and expressed hope that the process could be completed "as soon as possible." #Montenegro #DoKwon #SouthKorea #cryptonews #Bloomberg

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Bitcoin Drops Below $63,000 Amid Market Uncertainty and Regulatory Concerns Several factors could have contributed to the recent decline in Bitcoin's price below $63,000: Market Sentiment: Negative sentiment in the overall cryptocurrency market can cause a sell-off. This can be triggered by various news events, regulatory concerns, or macroeconomic factors. Regulatory News: Any new regulations or government actions against cryptocurrencies, such as crackdowns on exchanges or restrictions on crypto activities, can lead to a decrease in price. Technical Factors: Bitcoin's price is highly influenced by technical analysis. If it breaks a significant support level, it can lead to further selling pressure. Whale Activity: Large holders of Bitcoin (whales) selling significant amounts can influence the market. The movement of large amounts of Bitcoin to exchanges can indicate potential sell-offs. Economic Data: Broader economic data, such as inflation rates, interest rate changes, and economic performance indicators, can impact investor confidence in risk assets like cryptocurrencies. Market Corrections: After periods of significant gains, the market often experiences corrections. This can be part of a natural market cycle where prices adjust before potentially moving higher again. Hack or Security Breach: News of hacks, security breaches, or significant losses in cryptocurrency platforms can also lead to a loss of confidence and subsequent selling. Without specific news pointing to the exact cause, it's likely a combination of these factors contributing to the recent price drop. $BTC #Bitcoin❗ #BTC☀ #cryptonews #Blockchain

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Massive Transfer of Meme Cryptocurrencies: $1.567 Million with $1.486 Million Net Profit On August 1, according to monitoring by ai_9684xtpa, a smart money address 0x7ea...41416 transferred Pepe and MOG worth a total of $15.67 million to a new address two hours ago. The total floating profit of these two tokens is as high as $14.86 million. This address withdrew 51.54 million Pepe (approximately $860,000) from the exchange platform at an average price of $0.000001671 a year ago, with its value increasing more than fivefold. MOG also saw a significant position opened at a low a year ago, spending only $246,000 to buy 7.06 trillion tokens on the chain. The cost was as low as $0.000000003487, yielding a return exceeding 478 times. #Memecoins #PEPE✈ #MOG_COIN #cryptocurrency #Blockchain

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"Who Owns Bitcoin, Makes the Rules" Mars Finance News reported that "Who owns Bitcoin, makes the rules," is a prophetic view by Max Keizer about Bitcoin's impact on reshaping global power dynamics. This statement has elicited strong reactions in the financial community as Bitcoin is no longer just a store of value but is becoming the foundation of future governance frameworks. $BTC #Bitcoin❗️ #BTC☀ #FinancialNews #cryptocurrency

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