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CoinChapter
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SEC Approves Grayscale and ProShares Spot Ethereum ETFs for NYSE Arca
Ethereum ETF approval Read CoinChapter.com on Google News
YEREVAN (CoinChapter.com) — The United States Securities and Exchange Commission (SEC) has approved two spot Ethereum exchange-traded funds (ETFs) — Grayscale Ethereum Mini Trust and ProShares Ethereum ETF — for listing on the New York Stock Exchange’s Arca trading platform. Based on a July 17 filing, this approval allows NYSE to facilitate the trading of these funds.
SEC Approves Grayscale and ProShares Ethereum ETFs․ Source: U.S. Securities and Exchange Commission Grayscale Announces SEC Approval
Grayscale shared their excitement over the SEC’s approval. A spokesperson said,
“Grayscale is excited to share that the [SEC] has approved Grayscale Ethereum Mini Trust’s (proposed ticker: ETH) Form 19b-4.”
The company continues to work with the SEC for full regulatory approval for US Spot Ethereum ETPs.
Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that Grayscale plans to list. This follows Grayscale’s May approval to convert its legacy spot ETH fund, Grayscale Ethereum Trust (ETHE), into an ETF.
On July 17, Grayscale announced plans to distribute shares of the new Mini Trust to holders of the ETHE fund. The Grayscale Ethereum Trust, launched in 2017, was one of the first institutional investment vehicles for spot Ethereum.
Historical performance of Grayscale Ethereum Trust (ETHE). Source: Grayscale SEC’s Preliminary Approval for Multiple Spot Ether ETFs
The SEC has also given preliminary approval to at least three issuers to start listing spot Ether ETFs as soon as July 23. Eight spot Ether ETFs await final regulatory approval after discussions with the SEC and amendments to their S-1 filings.
ProShares filed its Form 19b-4 roughly three weeks after its peers had received approval. The ProShares Ethereum ETF is not among the eight expected to be listed next week.
Next Steps for Grayscale and ProShares ETFs
The Form 19b-4 filing approval allows the NYSE to facilitate the funds’ trading.
Grayscale continues to engage with the SEC to secure full regulatory approval. The approval for the Grayscale Ethereum Mini Trust is a significant step, but the final regulatory signoff on the S-1 filings is still pending.
Although ProShares is a late entrant, it is making progress with its Form 19b-4 filing, which shows its commitment to bringing a spot Ethereum ETF to market.
The post SEC Approves Grayscale and ProShares Spot Ethereum ETFs for NYSE Arca appeared first on CoinChapter.
YEREVAN (CoinChapter.com) — The United States Securities and Exchange Commission (SEC) has approved two spot Ethereum exchange-traded funds (ETFs) — Grayscale Ethereum Mini Trust and ProShares Ethereum ETF — for listing on the New York Stock Exchange’s Arca trading platform. Based on a July 17 filing, this approval allows NYSE to facilitate the trading of these funds.
SEC Approves Grayscale and ProShares Ethereum ETFs․ Source: U.S. Securities and Exchange Commission Grayscale Announces SEC Approval
Grayscale shared their excitement over the SEC’s approval. A spokesperson said,
“Grayscale is excited to share that the [SEC] has approved Grayscale Ethereum Mini Trust’s (proposed ticker: ETH) Form 19b-4.”
The company continues to work with the SEC for full regulatory approval for US Spot Ethereum ETPs.
Grayscale Ethereum Mini Trust is one of two spot Ethereum ETFs that Grayscale plans to list. This follows Grayscale’s May approval to convert its legacy spot ETH fund, Grayscale Ethereum Trust (ETHE), into an ETF.
On July 17, Grayscale announced plans to distribute shares of the new Mini Trust to holders of the ETHE fund. The Grayscale Ethereum Trust, launched in 2017, was one of the first institutional investment vehicles for spot Ethereum.
Historical performance of Grayscale Ethereum Trust (ETHE). Source: Grayscale SEC’s Preliminary Approval for Multiple Spot Ether ETFs
The SEC has also given preliminary approval to at least three issuers to start listing spot Ether ETFs as soon as July 23. Eight spot Ether ETFs await final regulatory approval after discussions with the SEC and amendments to their S-1 filings.
ProShares filed its Form 19b-4 roughly three weeks after its peers had received approval. The ProShares Ethereum ETF is not among the eight expected to be listed next week.
Next Steps for Grayscale and ProShares ETFs
The Form 19b-4 filing approval allows the NYSE to facilitate the funds’ trading.
Grayscale continues to engage with the SEC to secure full regulatory approval. The approval for the Grayscale Ethereum Mini Trust is a significant step, but the final regulatory signoff on the S-1 filings is still pending.
Although ProShares is a late entrant, it is making progress with its Form 19b-4 filing, which shows its commitment to bringing a spot Ethereum ETF to market.
The post SEC Approves Grayscale and ProShares Spot Ethereum ETFs for NYSE Arca appeared first on CoinChapter.
Happy Birthday 🎉🎂 #Binance #BinanceTurns7
Richard Teng
--
Happy 7th year anniversary Binance!!
210m users in 7 years. This achievement is only possible because of your trust and support. Thanks for standing by us through the ups and downs. We have emerged stronger with every challenge.
We will continue to bui7d the best and most trusted global crypto platform to support you in your journey. We are still early in the crypto cycle and the best is yet to come.
Keep bui7ding! Be Binance!
#Binance #BinanceTurns7
#Binance7周年
210m users in 7 years. This achievement is only possible because of your trust and support. Thanks for standing by us through the ups and downs. We have emerged stronger with every challenge.
We will continue to bui7d the best and most trusted global crypto platform to support you in your journey. We are still early in the crypto cycle and the best is yet to come.
Keep bui7ding! Be Binance!
#Binance #BinanceTurns7
#Binance7周年
BullishBanter
--
Avoid Buying at Round Numbers
This post might get a bit technical, but it's essential for understanding market behavior. Take your time to read and re-read it if necessary.
Many traders use "Limit" orders to buy or sell cryptocurrencies. For those unfamiliar, a Limit order allows you to automatically execute a trade at a specific price. For example, if you want to sell 1 $BTC at $68,500, you place a Limit sell order at $68,500, and it will automatically execute when the price hits that level.
However, you should avoid placing Limit orders at round numbers like $70,000, $75,000, or even $75,500. These round numbers are key psychological levels where many traders place their orders. As a result, your order can get lost among thousands of others, requiring a significant amount of capital to fulfill.
For example, if 1,000 $BTC are for sale at $70,000, it means 1,000 BTC need to be bought to fill all those orders. The likelihood of having 1,000 BTC available at that level is low. Instead, if you place your order at $69,999, you avoid the congestion at the round number, increasing the chances of your order being filled.
This strategy applies to all cryptocurrencies and any round numbers. If you have questions, feel free to ask in the comments.
This post reflects my personal views. Thank you for reading. If you found this helpful, please like, comment, share, and subscribe. Your support through likes and tips helps me continue sharing insights about the crypto market. Thank you to those who contribute.
#Write2Earn! #altcoins #Megadrop #BinanceTournament #MtGoxJulyRepayments
$BTC
This post might get a bit technical, but it's essential for understanding market behavior. Take your time to read and re-read it if necessary.
Many traders use "Limit" orders to buy or sell cryptocurrencies. For those unfamiliar, a Limit order allows you to automatically execute a trade at a specific price. For example, if you want to sell 1 $BTC at $68,500, you place a Limit sell order at $68,500, and it will automatically execute when the price hits that level.
However, you should avoid placing Limit orders at round numbers like $70,000, $75,000, or even $75,500. These round numbers are key psychological levels where many traders place their orders. As a result, your order can get lost among thousands of others, requiring a significant amount of capital to fulfill.
For example, if 1,000 $BTC are for sale at $70,000, it means 1,000 BTC need to be bought to fill all those orders. The likelihood of having 1,000 BTC available at that level is low. Instead, if you place your order at $69,999, you avoid the congestion at the round number, increasing the chances of your order being filled.
This strategy applies to all cryptocurrencies and any round numbers. If you have questions, feel free to ask in the comments.
This post reflects my personal views. Thank you for reading. If you found this helpful, please like, comment, share, and subscribe. Your support through likes and tips helps me continue sharing insights about the crypto market. Thank you to those who contribute.
#Write2Earn! #altcoins #Megadrop #BinanceTournament #MtGoxJulyRepayments
$BTC
Importante la educación en materia crypto. La difusión de información correcta para que la gente ingenua no caiga en estafas, algunas son muy bien montadas, engañan incluso a traders experimentados tal como fue el caso de #Solesbot #Learn #LearnFromMistakes #importante #educational
BullishBanter
--
Төмен (кемімелі)
ALARMING NEWS ALERT
‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️🚨⚠️
The world of cryptocurrencies has unfortunately seen its share of scams, with fraudsters constantly finding new ways to deceive investors. Here's a rundown of some of the largest scams to stay vigilant about:
1. FTX: Collapsed in November 2022 due to mishandling billions in customer funds. Founder Sam Bankman-Fried was sentenced to 25 years for fraud.
2. Luna and TerraUSD: Suffered a $60 billion loss in May 2022, leading to the arrest of founder Do Kwon in March 2023.
3. QuadrigaCX: Founder Gerald Cotten's death in 2018 left $215 million inaccessible, later revealed to be a Ponzi scheme.
4. Africrypt: Scammed investors out of 70,000 BTC in 2021. Founders Ameer and Raees Cajee are under investigation for money laundering.
5. SafeMoon: Executives withdrew over $200 million for personal use in 2021, leading to SEC fraud charges.
6. Pro-deum: Vanished in 2018 with investors losing all their funds, marking it as an exit scam.
7. Pincoin and iFan: Modern Tech's ICOs raised $660 million in 2018 through a Ponzi scheme. The team disappeared after collecting the funds.
8. Celsius Network: Paused withdrawals in 2022 and filed for bankruptcy owing $4.7 billion, now working to return assets to customers.
9. Centra Tech: Raised $25 million in 2017 with fraudulent promises, resulting in prison sentences for the founders.
10. Mining Max: Defrauded investors of $250 million in 2017, with only a fraction spent on mining, affecting 18,000 investors.
To protect yourself, conduct thorough research, verify the team's credentials, avoid unrealistic promises, diversify your investments, and refrain from storing all funds in one place.
Stay cautious and invest wisely to mitigate the risk of falling victim to scams in the crypto market.
#Write2Earn! #BinanceTournament #MtGoxJulyRepayments #ETH_ETFs_Approval_Predictions #BinanceTurns7
‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️🚨⚠️
The world of cryptocurrencies has unfortunately seen its share of scams, with fraudsters constantly finding new ways to deceive investors. Here's a rundown of some of the largest scams to stay vigilant about:
1. FTX: Collapsed in November 2022 due to mishandling billions in customer funds. Founder Sam Bankman-Fried was sentenced to 25 years for fraud.
2. Luna and TerraUSD: Suffered a $60 billion loss in May 2022, leading to the arrest of founder Do Kwon in March 2023.
3. QuadrigaCX: Founder Gerald Cotten's death in 2018 left $215 million inaccessible, later revealed to be a Ponzi scheme.
4. Africrypt: Scammed investors out of 70,000 BTC in 2021. Founders Ameer and Raees Cajee are under investigation for money laundering.
5. SafeMoon: Executives withdrew over $200 million for personal use in 2021, leading to SEC fraud charges.
6. Pro-deum: Vanished in 2018 with investors losing all their funds, marking it as an exit scam.
7. Pincoin and iFan: Modern Tech's ICOs raised $660 million in 2018 through a Ponzi scheme. The team disappeared after collecting the funds.
8. Celsius Network: Paused withdrawals in 2022 and filed for bankruptcy owing $4.7 billion, now working to return assets to customers.
9. Centra Tech: Raised $25 million in 2017 with fraudulent promises, resulting in prison sentences for the founders.
10. Mining Max: Defrauded investors of $250 million in 2017, with only a fraction spent on mining, affecting 18,000 investors.
To protect yourself, conduct thorough research, verify the team's credentials, avoid unrealistic promises, diversify your investments, and refrain from storing all funds in one place.
Stay cautious and invest wisely to mitigate the risk of falling victim to scams in the crypto market.
#Write2Earn! #BinanceTournament #MtGoxJulyRepayments #ETH_ETFs_Approval_Predictions #BinanceTurns7
Good report! 👍🏻
CoinChapter
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Best Utility Coin for Investors in 2024: LayerZero (ZRO), Toncoin (TON), and ETFSwap (ETFS)
Smart investors are constantly scanning the crypto landscape for the next great opportunity. Three utility coins; ETFSwap (ETFS), Toncoin (TON), and LayerZero (ZRO), are gaining traction in 2024.
These cutting-edge digital assets have special benefits and the ability to change the world, making them great options for investors looking to optimize their profits in the volatile cryptocurrency market.
ETFSwap (ETFS) The Premier Utility Coin of 2024.
Market observers anticipate that ETFSwap (ETFS) will bring about a revolution in the cryptocurrency industry by tokenizing exchange-traded funds (ETFs) and connecting traditional and decentralized finance. The way in which ETFSwap (ETFS) tokenizes assets in 2024 will alter the way in which investors perceive exchange-traded funds (ETFs).
Furthermore, the utility coin provides advantages for ETF staking, boosting profitability in a trading environment that is open around the clock, and the platform’s user-friendly interface makes DeFi easier to understand for cryptocurrency novices.
The ETF Screener and Tracker that is powered by artificial intelligence and offered by ETFSwap (ETFS) surpasses its competitors such as LayerZero (ZRO) and Litecoin (LTC). Real-time data, advanced analytics, predictive algorithms, and sentiment analysis are all utilized by this system in order to facilitate the provision of investing insights.
Additionally, the utility coin ETFSwap (ETFS) provides backing for tokenized assets by utilizing securities from established financial markets by means of regulated investment companies that comply with MiCa regulations.
Furthermore, the utility coin enables users to quickly access the functionality of the DeFi wallet without the need for KYC verification.
CyberScope audits show ETFSwap (ETFS) uses blockchain technology to protect customer privacy and security, validating its legitimacy.
ETFSwap (ETFS) plans to establish an ETF in 2025, cementing its status as a top utility coin in the market. The market is also waiting for the launch of its beta platform which will surely take over the market.
LayerZero’s (ZRO) Forecast For 2024
Despite the general downward trend, LayerZero (ZRO) is creating ripples in the market by breaking beyond the $4 price barrier. LayerZero (ZRO) has the ability to surpass expectations as a utility coin by attracting a sizable fanbase and its present growth trajectory.
After hitting an all-time high of $4.8 on June 20, 2024, $5 became the next critical price to break through in order to recover bullish momentum and outperform its rivals. Forecasts indicate that LayerZero (ZRO) may rise to $7.68 by the end of 2024, securing its place as a top utility coin for astute investors.
Toncoin (TON) Emerges As A Top Utility Coin For Investors In 2024
Toncoin (TON) has emerged as a recognized payment medium on the Telegram platform, where influencers are now rewarded with TON for building successful channels. The growing popularity of Toncoin (TON) and its growing application have established it as one of the top utility coins for investors in 2024.
The price of Toncoin (TON) has increased significantly since March, emerging from a period of consolidation at $2.00. Toncoin (TON) has stabilized at its current price of $7.8, following a dramatic decrease in the cryptocurrency market recently.
Market observers are nevertheless upbeat about the utility coin, pointing to its unique qualities as strong arguments in favor of it being a wise investment choice for investors by 2024.
Conclusion
The presale for ETFSwap (ETFS) is gaining traction as over 200 million tokens have been quickly sold out in the ongoing presale stage outperforming other utility coins like Toncoin (TON) and LayerZero (ZRO) in market demand.
Optimism is growing as the utility coin prepares to rise from its present phase at $0.01831 to $0.03846 in the upcoming portion of its presale. This increase has generated a great deal of interest from investors, demonstrating public support for the project and its prospects for investors in 2024.
It is anticipated that ETFSwap (ETFS) will hit $5, thus early backers have a fantastic investment opportunity.
For more information about the ETFS Presale:Visit ETFSwap PresaleJoin The ETFSwap Community
The post Best Utility Coin For Investors In 2024: LayerZero (ZRO), Toncoin (TON), And ETFSwap (ETFS) appeared first on CoinChapter.
These cutting-edge digital assets have special benefits and the ability to change the world, making them great options for investors looking to optimize their profits in the volatile cryptocurrency market.
ETFSwap (ETFS) The Premier Utility Coin of 2024.
Market observers anticipate that ETFSwap (ETFS) will bring about a revolution in the cryptocurrency industry by tokenizing exchange-traded funds (ETFs) and connecting traditional and decentralized finance. The way in which ETFSwap (ETFS) tokenizes assets in 2024 will alter the way in which investors perceive exchange-traded funds (ETFs).
Furthermore, the utility coin provides advantages for ETF staking, boosting profitability in a trading environment that is open around the clock, and the platform’s user-friendly interface makes DeFi easier to understand for cryptocurrency novices.
The ETF Screener and Tracker that is powered by artificial intelligence and offered by ETFSwap (ETFS) surpasses its competitors such as LayerZero (ZRO) and Litecoin (LTC). Real-time data, advanced analytics, predictive algorithms, and sentiment analysis are all utilized by this system in order to facilitate the provision of investing insights.
Additionally, the utility coin ETFSwap (ETFS) provides backing for tokenized assets by utilizing securities from established financial markets by means of regulated investment companies that comply with MiCa regulations.
Furthermore, the utility coin enables users to quickly access the functionality of the DeFi wallet without the need for KYC verification.
CyberScope audits show ETFSwap (ETFS) uses blockchain technology to protect customer privacy and security, validating its legitimacy.
ETFSwap (ETFS) plans to establish an ETF in 2025, cementing its status as a top utility coin in the market. The market is also waiting for the launch of its beta platform which will surely take over the market.
LayerZero’s (ZRO) Forecast For 2024
Despite the general downward trend, LayerZero (ZRO) is creating ripples in the market by breaking beyond the $4 price barrier. LayerZero (ZRO) has the ability to surpass expectations as a utility coin by attracting a sizable fanbase and its present growth trajectory.
After hitting an all-time high of $4.8 on June 20, 2024, $5 became the next critical price to break through in order to recover bullish momentum and outperform its rivals. Forecasts indicate that LayerZero (ZRO) may rise to $7.68 by the end of 2024, securing its place as a top utility coin for astute investors.
Toncoin (TON) Emerges As A Top Utility Coin For Investors In 2024
Toncoin (TON) has emerged as a recognized payment medium on the Telegram platform, where influencers are now rewarded with TON for building successful channels. The growing popularity of Toncoin (TON) and its growing application have established it as one of the top utility coins for investors in 2024.
The price of Toncoin (TON) has increased significantly since March, emerging from a period of consolidation at $2.00. Toncoin (TON) has stabilized at its current price of $7.8, following a dramatic decrease in the cryptocurrency market recently.
Market observers are nevertheless upbeat about the utility coin, pointing to its unique qualities as strong arguments in favor of it being a wise investment choice for investors by 2024.
Conclusion
The presale for ETFSwap (ETFS) is gaining traction as over 200 million tokens have been quickly sold out in the ongoing presale stage outperforming other utility coins like Toncoin (TON) and LayerZero (ZRO) in market demand.
Optimism is growing as the utility coin prepares to rise from its present phase at $0.01831 to $0.03846 in the upcoming portion of its presale. This increase has generated a great deal of interest from investors, demonstrating public support for the project and its prospects for investors in 2024.
It is anticipated that ETFSwap (ETFS) will hit $5, thus early backers have a fantastic investment opportunity.
For more information about the ETFS Presale:Visit ETFSwap PresaleJoin The ETFSwap Community
The post Best Utility Coin For Investors In 2024: LayerZero (ZRO), Toncoin (TON), And ETFSwap (ETFS) appeared first on CoinChapter.
$BTC veremos a qué mínimo llega, mientras tanto hay que seguir aprovechando la tendencia
CoinChapter
--
Bitcoin Enters Typical Summer Slump – Will It Rally in Q4 2024?
Bitcoin enters typical summer slump Read CoinChapter.com on Google News
NAIROBI (CoinChapter.com)— Bitcoin’s current price dip below its bull market support band (BMSB) raises questions about its potential for a Q4 rally, a pattern observed in previous years. Analyst Benjamin Cowen highlighted this trend in a recent post on X.
Cowen shared his analysis in a thread on X. Source: Benjamin Cowen
Cowen emphasized Bitcoin’s position relative to its BMSB, noting the importance of regaining this level in the coming weeks following the recent BTC price crash. The analyst compared this to past cycles, particularly the summers of 2013 and 2023, where Bitcoin’s recovery led to significant price rallies.
In 2013, Bitcoin bottomed in early July before surging above the 21-week EMA and rallying in Q4. In 2023, BTC price painted a similar pattern, with Bitcoin dropping below its BMSB in Aug before staging a strong comeback in the final quarter.
The analyst sees BTC’s RSI and Bullish Hammer confirming a reversal. Source: Jacob Canfield
Jacob Canfield pointed out bullish signals from Bitcoin’s Relative Strength Index (RSI), highlighting oversold bullish divergences on the daily chart as high-probability trade setups. Moreover, he predicts a potential revisit to Bitcoin’s former range high of over $70,000, if the token reclaims the daily trend.
Bitcoin’s high volatility suggests a historical upward trend
Another independent analyst highlighted that the Bitcoin volatility Index suggests that high volatility phases often precede the second phase of a bull market. When the Volatility Index enters high volatility territory, the metric typically signals the start of significant bullish momentum.
Rate Cut Expectations Add to Optimism
Rising interest rate cut probabilities further influence Bitcoin’s ability to resume its bull run in the coming weeks. According to CME data, as of July 8, Wall Street traders saw a 93.3% possibility of the Federal Reserve cutting interest rates by 25 basis points in September.
The probability was less than 50% a month ago. Due to a slowdown in hiring in the United States, expectations for lower interest rates have risen.
Fed meeting target rate probabilities. Source: CME
When the job market weakens, the Federal Reserve often considers cutting interest rates to stimulate economic activity. Lower interest rates are generally bullish for Bitcoin and other riskier assets because they make traditional safe investments like US Treasury Notes less attractive.
The potential shift in monetary policy could provide additional support for Bitcoin’s recovery.
Bitcoin’s Struggle Below $56,550 Support Level
On July 5, Bitcoin plunged below the $56,552 support level but quickly rebounded as bulls purchased the dip, managing to defend the level on a closing basis. However, bears may attempt to sink and sustain the price below this level again.
If successful, the BTC/USDT pair could slide to $53,480 and potentially to solid support at $50,000. On July 8, Bitcoin’s price spiked over 7% to reach a daily high near $58,200 before correcting. The correction showcases the strength of bearish presence near the upper price levels.
BTC/USD 1-day price chart. Source: TradingView
The downsloping 20-day exponential moving average (EMA) near $61,230 indicates an advantage for the bears. However, the positive divergence on the relative strength index (RSI) suggests that bearish momentum might be slowing.
Buyers will need to push the price above the 20-day EMA to maintain the range-bound action between $56,550 and $73,780.
Bitcoin On-chain Indicators. Source: CryptoQuant
The aSOPR at 1.0019 indicates slight profit-taking, potentially signaling a market top. However, the Binary CDD value of 0.42857142 suggests long-term holders are retaining their coins, possibly anticipating future gains.
The post Bitcoin Enters Typical Summer Slump – Will It Rally in Q4 2024? appeared first on CoinChapter.
NAIROBI (CoinChapter.com)— Bitcoin’s current price dip below its bull market support band (BMSB) raises questions about its potential for a Q4 rally, a pattern observed in previous years. Analyst Benjamin Cowen highlighted this trend in a recent post on X.
Cowen shared his analysis in a thread on X. Source: Benjamin Cowen
Cowen emphasized Bitcoin’s position relative to its BMSB, noting the importance of regaining this level in the coming weeks following the recent BTC price crash. The analyst compared this to past cycles, particularly the summers of 2013 and 2023, where Bitcoin’s recovery led to significant price rallies.
In 2013, Bitcoin bottomed in early July before surging above the 21-week EMA and rallying in Q4. In 2023, BTC price painted a similar pattern, with Bitcoin dropping below its BMSB in Aug before staging a strong comeback in the final quarter.
The analyst sees BTC’s RSI and Bullish Hammer confirming a reversal. Source: Jacob Canfield
Jacob Canfield pointed out bullish signals from Bitcoin’s Relative Strength Index (RSI), highlighting oversold bullish divergences on the daily chart as high-probability trade setups. Moreover, he predicts a potential revisit to Bitcoin’s former range high of over $70,000, if the token reclaims the daily trend.
Bitcoin’s high volatility suggests a historical upward trend
Another independent analyst highlighted that the Bitcoin volatility Index suggests that high volatility phases often precede the second phase of a bull market. When the Volatility Index enters high volatility territory, the metric typically signals the start of significant bullish momentum.
Rate Cut Expectations Add to Optimism
Rising interest rate cut probabilities further influence Bitcoin’s ability to resume its bull run in the coming weeks. According to CME data, as of July 8, Wall Street traders saw a 93.3% possibility of the Federal Reserve cutting interest rates by 25 basis points in September.
The probability was less than 50% a month ago. Due to a slowdown in hiring in the United States, expectations for lower interest rates have risen.
Fed meeting target rate probabilities. Source: CME
When the job market weakens, the Federal Reserve often considers cutting interest rates to stimulate economic activity. Lower interest rates are generally bullish for Bitcoin and other riskier assets because they make traditional safe investments like US Treasury Notes less attractive.
The potential shift in monetary policy could provide additional support for Bitcoin’s recovery.
Bitcoin’s Struggle Below $56,550 Support Level
On July 5, Bitcoin plunged below the $56,552 support level but quickly rebounded as bulls purchased the dip, managing to defend the level on a closing basis. However, bears may attempt to sink and sustain the price below this level again.
If successful, the BTC/USDT pair could slide to $53,480 and potentially to solid support at $50,000. On July 8, Bitcoin’s price spiked over 7% to reach a daily high near $58,200 before correcting. The correction showcases the strength of bearish presence near the upper price levels.
BTC/USD 1-day price chart. Source: TradingView
The downsloping 20-day exponential moving average (EMA) near $61,230 indicates an advantage for the bears. However, the positive divergence on the relative strength index (RSI) suggests that bearish momentum might be slowing.
Buyers will need to push the price above the 20-day EMA to maintain the range-bound action between $56,550 and $73,780.
Bitcoin On-chain Indicators. Source: CryptoQuant
The aSOPR at 1.0019 indicates slight profit-taking, potentially signaling a market top. However, the Binary CDD value of 0.42857142 suggests long-term holders are retaining their coins, possibly anticipating future gains.
The post Bitcoin Enters Typical Summer Slump – Will It Rally in Q4 2024? appeared first on CoinChapter.
Interesante dato para tener en cuenta ✍🏻 seguimos manteniendo la calma y aprendiendo $BTC #Bitcoin
ATENCIÓN queridos amigos. En este momento que estoy escribiendo Btc está en 56.000 quiero advertirles para que no se preocupen ni alarmen. En las próximas horas Btc irá a buscar el rango de 52- 53k es algo proyectado de hace muchos meses y es algo casi seguro que pasará en las próximas horas. No se preocupen, es solo una confirmación de onda 4 que es bajista. Para después de llegar a este rango iniciar una onda 5 alcista. No vendan, no operen long ni short. Manténganse lo más alejado que puedan a futuros ya que se viene volatilidad y es buscando liquidaciones tanto en short como en long. Una vez cierre este rango podemos confirmar final de onda c correctiva para iniciar onda 5 alcista. Manténganse tranquilos. Si sufren de ansiedad mejor no entren a ver sus billeteras y aléjense por unos días de sus billeteras. Si ya están prevenidos y me creen, disfruten esta linda caída y gócenla porque será la última antes de el bullrun 🫡🫡. Nos vemos pronto$BTC
Si el gobierno alemán invierte esas cantidades... que te impide a ti hacerlo con tu bajo presupuesto? 🤔 It's time to invest! #Bitcoin
CoinChapter
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German Government Buys Back $111 Million in Bitcoin
German Government Buys Back $111 Million in Bitcoin
YEREVAN (CoinChapter.com) — The German government has made a surprising U-turn in its Bitcoin strategy. Previously, it had been selling large amounts of Bitcoin, adding pressure to the market. In a recent unexpected move, the government bought back over 1,915 Bitcoin worth $111.5 million from top exchanges.
This transaction was detected by Arkham Intelligence, an on-chain analysis firm. They shared the news with their 460,000 followers on X.
German Government’s Bitcoin Movements Exposed. Source: Arkham Intelligence German Government’s Major Bitcoin Transactions Revealed by Arkham Intelligence
Arkham Intelligence reported:
“German Government BTC Movements. German Gov. wallets received 1,915 BTC ($111.5M) last night from addresses linked to Kraken, Bitstamp, and Coinbase. 1,047.4 BTC ($57.2M) has been moved out of their wallets this morning: 547.4 BTC ($30.1M) to Flow Traders, 500 BTC ($27.1M) to 139Po (likely for institutional/OTC service).”
The exchanges involved in this transaction include Kraken, Coinbase, and Bitstamp. These were the same platforms used by the German government for selling Bitcoin last week.
Impact on Bitcoin Market
The German government’s previous strategy of selling Bitcoin had created significant selling pressure. This had driven Bitcoin’s price to new lows and caused concern within the crypto community.
This buyback has raised speculation and optimism among industry watchers and global Bitcoin investors. Besides buying back $111.5 million worth of Bitcoin, Arkham Intelligence revealed that the government also transferred 1,047.4 BTC out of their wallets. A substantial portion, 547.4 BTC valued at $30.1 million, went to Flow Traders. Another 500 BTC, worth $27.1 million, is believed to have been allocated for institutional or OTC services.
German Government’s Major Bitcoin Transactions. Source: Arkham Intelligence German Gov’t BTC Transfers This Month
This month, the German government has been very active in the crypto market. On Tuesday, it transferred 832.7 Bitcoins, valued at approximately $52 million, with 282.7 Bitcoins sent to major exchanges such as Bitstamp, Coinbase, and Kraken.
Two days later, another significant transfer of 3,000 Bitcoins worth $174 million occurred. The government-linked wallet now holds a total of 40,526 BTC worth over $2.29 billion.
Justin Sun Seeks to Stabilize Market Amid Bitcoin Volatility
The German government’s activities have created a lot of volatility, impacting asset prices. Many industry leaders are concerned and are looking for solutions to stabilize the market.
Justin Sun, founder of the Tron (TRX) crypto project, has expressed his intention to negotiate with the German governing body. He aims to minimize the market impact of their Bitcoin strategy. Sun suggested an off-market transaction to prevent significant price fluctuations.
Justin Sun’s $2.3B Bitcoin Offer. Source: @justinsuntron
The German government’s actions caused Bitcoin to drop to a low of $53,700. However, it has rebounded to $56,926 at the time of writing.
Bitcoin Price Drop After Large Transfers. Source: CoinMarketCap
The post German Government Buys Back $111 Million in Bitcoin appeared first on CoinChapter.
YEREVAN (CoinChapter.com) — The German government has made a surprising U-turn in its Bitcoin strategy. Previously, it had been selling large amounts of Bitcoin, adding pressure to the market. In a recent unexpected move, the government bought back over 1,915 Bitcoin worth $111.5 million from top exchanges.
This transaction was detected by Arkham Intelligence, an on-chain analysis firm. They shared the news with their 460,000 followers on X.
German Government’s Bitcoin Movements Exposed. Source: Arkham Intelligence German Government’s Major Bitcoin Transactions Revealed by Arkham Intelligence
Arkham Intelligence reported:
“German Government BTC Movements. German Gov. wallets received 1,915 BTC ($111.5M) last night from addresses linked to Kraken, Bitstamp, and Coinbase. 1,047.4 BTC ($57.2M) has been moved out of their wallets this morning: 547.4 BTC ($30.1M) to Flow Traders, 500 BTC ($27.1M) to 139Po (likely for institutional/OTC service).”
The exchanges involved in this transaction include Kraken, Coinbase, and Bitstamp. These were the same platforms used by the German government for selling Bitcoin last week.
Impact on Bitcoin Market
The German government’s previous strategy of selling Bitcoin had created significant selling pressure. This had driven Bitcoin’s price to new lows and caused concern within the crypto community.
This buyback has raised speculation and optimism among industry watchers and global Bitcoin investors. Besides buying back $111.5 million worth of Bitcoin, Arkham Intelligence revealed that the government also transferred 1,047.4 BTC out of their wallets. A substantial portion, 547.4 BTC valued at $30.1 million, went to Flow Traders. Another 500 BTC, worth $27.1 million, is believed to have been allocated for institutional or OTC services.
German Government’s Major Bitcoin Transactions. Source: Arkham Intelligence German Gov’t BTC Transfers This Month
This month, the German government has been very active in the crypto market. On Tuesday, it transferred 832.7 Bitcoins, valued at approximately $52 million, with 282.7 Bitcoins sent to major exchanges such as Bitstamp, Coinbase, and Kraken.
Two days later, another significant transfer of 3,000 Bitcoins worth $174 million occurred. The government-linked wallet now holds a total of 40,526 BTC worth over $2.29 billion.
Justin Sun Seeks to Stabilize Market Amid Bitcoin Volatility
The German government’s activities have created a lot of volatility, impacting asset prices. Many industry leaders are concerned and are looking for solutions to stabilize the market.
Justin Sun, founder of the Tron (TRX) crypto project, has expressed his intention to negotiate with the German governing body. He aims to minimize the market impact of their Bitcoin strategy. Sun suggested an off-market transaction to prevent significant price fluctuations.
Justin Sun’s $2.3B Bitcoin Offer. Source: @justinsuntron
The German government’s actions caused Bitcoin to drop to a low of $53,700. However, it has rebounded to $56,926 at the time of writing.
Bitcoin Price Drop After Large Transfers. Source: CoinMarketCap
The post German Government Buys Back $111 Million in Bitcoin appeared first on CoinChapter.
Ciertamente es una criptomoneda sólida a pesar de las turbulencias.
Binance News
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MicroStrategy Founder Reaffirms Faith In Bitcoin Amid Market Turbulence
According to Odaily, MicroStrategy founder Michael Saylor has publicly reaffirmed his unwavering belief in the value of Bitcoin, despite recent market fluctuations. Amid the turbulence in the cryptocurrency market, Saylor has commented on the recent drastic drop in Bitcoin prices on an unspecified platform.
Saylor stated, '1 BTC = 1 BTC,' reiterating that despite market volatility, his fundamental belief in the unchanging value of Bitcoin remains steadfast. His comments come at a time when the cryptocurrency market is experiencing significant upheaval, with Bitcoin's price experiencing a sharp decline.
Saylor's statement underscores his long-standing conviction in the inherent value of Bitcoin, regardless of its market price. His unwavering belief in Bitcoin's value, even in the face of significant market volatility, serves as a testament to his confidence in the cryptocurrency.
Despite the market turbulence, Saylor's reaffirmation of his belief in Bitcoin underscores the resilience of the cryptocurrency and its enduring appeal to investors. His comments serve as a reminder that the value of Bitcoin is not solely determined by its market price, but also by the faith and confidence of its investors.
Saylor stated, '1 BTC = 1 BTC,' reiterating that despite market volatility, his fundamental belief in the unchanging value of Bitcoin remains steadfast. His comments come at a time when the cryptocurrency market is experiencing significant upheaval, with Bitcoin's price experiencing a sharp decline.
Saylor's statement underscores his long-standing conviction in the inherent value of Bitcoin, regardless of its market price. His unwavering belief in Bitcoin's value, even in the face of significant market volatility, serves as a testament to his confidence in the cryptocurrency.
Despite the market turbulence, Saylor's reaffirmation of his belief in Bitcoin underscores the resilience of the cryptocurrency and its enduring appeal to investors. His comments serve as a reminder that the value of Bitcoin is not solely determined by its market price, but also by the faith and confidence of its investors.
Excelente análisis. Hay que mantener la calma y aprovechar la tendencia bajista.
CoinChapter
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Bitcoin Crashed! but It’s the Most Bullish News Ever
Bitcoin Crashed! But It’s The Most Bullish News Ever Read CoinChapter.com on Google News
NAIROBI (CoinChapter.com)— On July 5, Bitcoin trades at $56,485, recovering from a low of $53,831 earlier this morning. Despite the uptick, BTC/USD has experienced a significant drop from $62,829 over the past four days, marking an 11.5% decline for the week.
On June 29, Bitcoin hovered near $60,920, reflecting a more stable market period before the recent turbulence.
BTCUSD 4-Hour chart. Source: Skew
Analysts at Skew highlight Bitcoin’s recent movements around the 200 DMA as a post-halving market adjustment indicator. The halving event, which reduces the rate of new Bitcoin creation, typically injects significant bullish sentiment.
Historical data from 2014 to 2024 shows that when Bitcoin’s price fell below the 200 DMA, it often presented major buying opportunities for investors.
Bitcoin’s Plunge to $53K: Are We Heading for a Major Reversal?
Bitcoin’s daily chart indicates a persistent downtrend from $72,949, with an accelerated decline from the $60,000 zone to the $53,550 range. Significant volume spikes during price drops suggest phases of capitulation and accumulation.
The primary support is established at $53,550, with resistance around $58,000.
BTC/USD price chart. Source: TradingView
The relative strength index (RSI) at 26 and Stochastic at 13 signal oversold conditions. The commodity channel index (CCI) at -217 reflects strong bearish momentum. Moreover, the average directional index (ADI) reads 36, indicating a moderate trend strength.
Momentum indicators, including the momentum at -6792 and MACD level at -2210, further highlight the prevailing bearish outlook.
Moving averages across all significant periods reinforce the sell signal. The 10-period exponential moving average (EMA) at $59,931 and simple moving average (SMA) at $60,332 indicate a downturn.
According to Glassnode’s latest report, the MVRV Ratio shows aggregate investor profitability remains robust, with the average coin still holding a 2x profit multiple. The level often delineates the ‘Enthusiastic’ and the ‘Euphoric’ bull market phases, suggesting that the market may be primed for a bullish reversal.
Market Analysts Weigh In
Source: Moustache
Market analysts, including Moustache, highlight the importance of the MZ BTC bottom-indicator, a tool used to identify market bottoms. According to the analyst, maintaining the blue line in this indicator is crucial to follow the bullish cycle of 2017.
He argues that the market appears “overripe for a turnaround,” suggesting that the current correction phase may soon give way to upward momentum.
Source: Adam Back
Blockstream Co-Founder Adam Back, reminds investors to remain calm, pointing out that previous bull runs have experienced several -30% drawdowns. He advises buying the dip, reinforcing the sentiment that the current market correction is a normal part of Bitcoin’s long-term growth pattern.
A snippet of Ki Young Ju post on X
Ki Young Ju, CEO of CryptoQuant, notes that tracking Bitcoin whales in futures markets can still yield significant returns. Ju pointed out that relatively small whales are currently opening long positions, indicating potential alpha until the market becomes spot-driven.
The post Bitcoin Crashed! But It’s The Most Bullish News Ever appeared first on CoinChapter.
NAIROBI (CoinChapter.com)— On July 5, Bitcoin trades at $56,485, recovering from a low of $53,831 earlier this morning. Despite the uptick, BTC/USD has experienced a significant drop from $62,829 over the past four days, marking an 11.5% decline for the week.
On June 29, Bitcoin hovered near $60,920, reflecting a more stable market period before the recent turbulence.
BTCUSD 4-Hour chart. Source: Skew
Analysts at Skew highlight Bitcoin’s recent movements around the 200 DMA as a post-halving market adjustment indicator. The halving event, which reduces the rate of new Bitcoin creation, typically injects significant bullish sentiment.
Historical data from 2014 to 2024 shows that when Bitcoin’s price fell below the 200 DMA, it often presented major buying opportunities for investors.
Bitcoin’s Plunge to $53K: Are We Heading for a Major Reversal?
Bitcoin’s daily chart indicates a persistent downtrend from $72,949, with an accelerated decline from the $60,000 zone to the $53,550 range. Significant volume spikes during price drops suggest phases of capitulation and accumulation.
The primary support is established at $53,550, with resistance around $58,000.
BTC/USD price chart. Source: TradingView
The relative strength index (RSI) at 26 and Stochastic at 13 signal oversold conditions. The commodity channel index (CCI) at -217 reflects strong bearish momentum. Moreover, the average directional index (ADI) reads 36, indicating a moderate trend strength.
Momentum indicators, including the momentum at -6792 and MACD level at -2210, further highlight the prevailing bearish outlook.
Moving averages across all significant periods reinforce the sell signal. The 10-period exponential moving average (EMA) at $59,931 and simple moving average (SMA) at $60,332 indicate a downturn.
According to Glassnode’s latest report, the MVRV Ratio shows aggregate investor profitability remains robust, with the average coin still holding a 2x profit multiple. The level often delineates the ‘Enthusiastic’ and the ‘Euphoric’ bull market phases, suggesting that the market may be primed for a bullish reversal.
Market Analysts Weigh In
Source: Moustache
Market analysts, including Moustache, highlight the importance of the MZ BTC bottom-indicator, a tool used to identify market bottoms. According to the analyst, maintaining the blue line in this indicator is crucial to follow the bullish cycle of 2017.
He argues that the market appears “overripe for a turnaround,” suggesting that the current correction phase may soon give way to upward momentum.
Source: Adam Back
Blockstream Co-Founder Adam Back, reminds investors to remain calm, pointing out that previous bull runs have experienced several -30% drawdowns. He advises buying the dip, reinforcing the sentiment that the current market correction is a normal part of Bitcoin’s long-term growth pattern.
A snippet of Ki Young Ju post on X
Ki Young Ju, CEO of CryptoQuant, notes that tracking Bitcoin whales in futures markets can still yield significant returns. Ju pointed out that relatively small whales are currently opening long positions, indicating potential alpha until the market becomes spot-driven.
The post Bitcoin Crashed! But It’s The Most Bullish News Ever appeared first on CoinChapter.
Binance News
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Polkadot Proposes To Reduce Token Unlocking Period To Two Days
According to Odaily, Polkadot has proposed a new RFC-0092 that suggests reducing the token unlocking period from 28 days to just two days. The aim of this proposal is to enhance user experience and maintain network security on Polkadot. The new mechanism will manage this by queuing new unlocking requests and adjusting the unlocking duration based on the size of the queue, significantly reducing the average unlocking time.
Interesante este análisis... $BTC #CryptoTradingGuide
BullishBanter
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#btc WARNING - Market Manipulation Alert
You probably noticed the recent market moves driven by greedy investors. They nudged $BTC prices up by 1-2%, creating a wave of optimism that encouraged people to buy $BTC , $ETH , and other coins. But soon after, they dumped the market, selling off their holdings at a decent price and leaving smaller investors in the red. This tactic is likely to be used again. Don’t fall for it. If you find yourself in profit, consider selling at least part of your holdings to ensure you have cash on hand.
I am currently very bearish on the market and anticipate a significant drop. Indicators like MACD and others on a daily basis do not support a BTC pump. I could be wrong, and I sincerely hope so, but I’m not willing to take any more risks until the market stabilizes.
It's time for some regulation. The idea of decentralization hasn't panned out as intended, and it's important to acknowledge that.
Stay cautious,
Cheers
#ETHETFsApproved #BinanceTournament #Write2Earn!
You probably noticed the recent market moves driven by greedy investors. They nudged $BTC prices up by 1-2%, creating a wave of optimism that encouraged people to buy $BTC , $ETH , and other coins. But soon after, they dumped the market, selling off their holdings at a decent price and leaving smaller investors in the red. This tactic is likely to be used again. Don’t fall for it. If you find yourself in profit, consider selling at least part of your holdings to ensure you have cash on hand.
I am currently very bearish on the market and anticipate a significant drop. Indicators like MACD and others on a daily basis do not support a BTC pump. I could be wrong, and I sincerely hope so, but I’m not willing to take any more risks until the market stabilizes.
It's time for some regulation. The idea of decentralization hasn't panned out as intended, and it's important to acknowledge that.
Stay cautious,
Cheers
#ETHETFsApproved #BinanceTournament #Write2Earn!