On Jun 27, 2024, 09:25 AM(UTC). According to Binance Market Data, Bitcoin has crossed the 61,000 USDT benchmark and is now trading at 61,039.988281 USDT, with a narrowed narrowed 0.71% decrease in 24 hours.

According to Odaily, QCP Capital released a report on June 27, indicating that Bitcoin is likely to maintain its support at $60,000. This prediction is based on the slowed pace of Bitcoin transfers by the German government, which only transferred 250 Bitcoins yesterday. This could suggest that their current selling plan is nearing its end. In addition, after seven consecutive days of capital outflows, the Bitcoin spot ETF reported a net inflow of $52.4 million over the past two days. The report further suggests that the timing to buy Bitcoin may have arrived, as the ETF funds have turned positive and the impact of the Mentougou incident has likely been largely digested.

According to Odaily, official data reveals that as of June 26, the Australian Monochrome Bitcoin Spot ETF holds 62 BTC, with an AUM (Assets Under Management) exceeding $5.78 million. This information is based on the most recent data available, reflecting the current status of the Monochrome Bitcoin Spot ETF in Australia. The ETF's holdings and AUM indicate its performance and the level of investor interest in this financial product. The data does not provide any further details or insights into the future performance of the ETF or the broader cryptocurrency market. The Monochrome Bitcoin Spot ETF is one of many financial products available to investors interested in gaining exposure to Bitcoin and other cryptocurrencies without the need to directly purchase or hold these digital assets. The performance of such ETFs can provide insights into the broader market sentiment towards Bitcoin and other cryptocurrencies.

On Jun 27, 2024, 01:12 AM (UTC), according to Binance Market Data, Bitcoin (BTC) crossed the 61,000 USDT benchmark and is now trading at 61,025.628906 USDT, with a narrowed 1.32% decrease in 24 hours.

According to U.Today, Bitcoin's largest wallets, controlling at least 0.1% of the total supply, have seen the highest amount of net inflows following the recent cryptocurrency market crash. These wallets reportedly accumulated a staggering $436 million worth of Bitcoin on Monday. This move is seen as a strategy to buy when the market is down, a tactic often attributed to legendary investor Warren Buffett. On June 24, Bitcoin's price dropped to as low as $58,456 due to bearish news about the upcoming repayments to creditors of the now-defunct cryptocurrency exchange Mt. Gox. This marked the lowest level for the leading cryptocurrency in nearly two months. The cryptocurrency market was gripped by fear, as indicated by the popular Fear & Greed Index showing its lowest reading since last September. The Relative Strength Index (RSI), a widely used momentum indicator, suggested that Bitcoin was oversold on both daily and weekly charts, a condition not seen since Bitcoin was trading at only $26,000. These factors suggested that the Bitcoin price was ready for a bounce, prompting major whales to buy more Bitcoin following the recent price correction. On Tuesday, the Bitcoin price managed to recover back to the $62,004 level, adding more than 2.2%. Pseudonymous cryptocurrency trader Rekt Capital noted that the flagship cryptocurrency has managed to successfully hold the key support at $60,600, which is the low of the current range. The trader believes that the Bitcoin price will be able to revisit the top of the current range if it remains relatively stable. Trader James Stanley also identified the $60,000 level as the key support level that Bitcoin bulls have managed to hold.

According to BlockBeats, a transaction report from investment firm Off the Chain Capital suggests that creditors of Mt. Gox will start receiving compensation from next week. However, they may be reluctant to give up the tokens they have held for a decade. Off the Chain Capital CEO, Brian Dixon, wrote in the report that he does not anticipate an immediate market sell-off of these assets once Mt. Gox has completed its distribution. He noted that he has not seen many creditors selling their Bitcoin immediately after receiving it, as was the case a few years ago. This is because Bitcoin has matured significantly since Mt. Gox filed for bankruptcy in 2014. Creditors must ask themselves whether they need this cash to purchase something, or if it would be better to keep Bitcoin as a long-term store of value, Dixon added. He also mentioned that Bitcoin has been the best-performing asset in 12 of the past 15 years.

According to Odaily, Matrixport, a digital assets financial services platform, has reported that Bitcoin is currently oversold. Historical data suggests that an oversold status is typically followed by a certain degree of rebound. At present, the Relative Strength Index (RSI), a momentum oscillator used to measure the speed and change of price movements, has reached its lowest point since August of the previous year. Matrixport's analysis is based on the RSI, a tool that traders use to identify potential buy and sell opportunities. An RSI reading of 30 or below is generally interpreted as indicating oversold conditions, suggesting that the price may start to rise as the selling pressure eases. The current RSI level, hitting its lowest since last August, suggests that Bitcoin is significantly oversold and a rebound could be on the horizon. It's important to note that while the RSI is a useful tool in predicting market trends, it is not infallible and should be used in conjunction with other market indicators for a more comprehensive analysis. Investors are advised to conduct their own research and consult with a financial advisor before making any investment decisions.

According to BlockBeats, Robert Kiyosaki, the author of 'Rich Dad Poor Dad', has revealed that he continues to invest in Bitcoin on a monthly basis. Kiyosaki made this revelation on social media, crediting Raoul Pal, the CEO of Real Vision, for initially encouraging him to invest in the cryptocurrency. Years ago, Pal suggested that Kiyosaki should start investing in Bitcoin. Heeding this advice, Kiyosaki purchased 30 Bitcoins at a price of $6,000 each. Today, the same Bitcoin is valued at approximately $60,000. Despite the significant increase in price, Kiyosaki continues to buy Bitcoin every month. He described Bitcoin as a 'rule-based currency' in his social media post.

According to PANews, the price of Bitcoin in the coming months could be entirely determined by the immense fractal energy if you believe in it. As we know, Bitcoin hit a historical high of nearly $73,740 in March, which is the peak of the current cycle. This could mean the bull market has ended. The trading prices of Bitcoin and Ethereum fell by 5% today, causing almost all other currencies except stable coins to suffer losses, which certainly does not help to boost market sentiment.However, the problem with markets is that you never know when they will peak. Looking back, the historical high that Bitcoin set in December 2017 was obviously the highest point for the next three years, even though altcoins would continue to rise for a few weeks. In March 2021, when Bitcoin first broke through $61,000, it is still uncertain whether Bitcoin will plummet by 13% in November (only eight months later) after retreating nearly half.At some point, the bull market has obviously come to an end. Bears may have proposed this earlier than bulls, but in any case, the internal explosion of Terra in the next May and the subsequent cascading liquidation and bankruptcy are indeed nails. When it comes to price, all we can really do is look back. Since Bitcoin bottomed out in November 2022, 585 days (about 20 months) have passed, which we conveniently call the beginning of the current bull market.The chart depicts a comparison between bull markets. So far, everything is going well. Using this very basic definition, the previous two bull markets peaked after about 840 and 1,060 days. Therefore, if we are destined to repeat these periods—a big assumption—then we are firmly in the second half of the cycle.In the past two quarters, the price of Bitcoin has risen 6 times and 3 times respectively. Even after the recent decline, the return on Bitcoin since it bottomed out has reached 4 times so far, placing it in the recent bull market. If Bitcoin really peaked in March, then this will be the shortest bull market cycle on record, not including the first year of its price discovery.

According to Foresight News, US Senator Ted Cruz has expressed his strong support for Bitcoin, stating that Texas should welcome Bitcoin mining. Cruz revealed that he owns three mining machines that are currently operating in Texas, earning him between 30 and 40 dollars daily. He sees potential in the cryptocurrency and believes that his home state could benefit from embracing this technology.

On Jun 25, 2024, 22:45 (UTC). According to Binance Market Data, Bitcoin (BTC) has dropped below 62,000 USDT and is now trading at 61,975.210938 USDT, with a narrowed 3.06% increase in 24 hours.

According to Odaily, US Congressman Matt Gaetz has initiated a proposal to allow the use of Bitcoin (BTC) for federal income tax payments. This move, if approved, could mark a significant shift in the acceptance and use of cryptocurrencies in the US government's financial transactions. The proposal is currently under review and could potentially change the landscape of digital currency usage in the country. It is worth noting that the acceptance of Bitcoin for tax payments would not only legitimize its use but also potentially encourage more people to invest and transact in Bitcoin. However, the proposal is still in its early stages and will need to undergo several legislative processes before it can be implemented. The implications of such a move on the US economy and the global cryptocurrency market are yet to be fully understood.

On Jun 25, 2024, 14:30 (UTC). According to Binance Market Data, Bitcoin (BTC) 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, 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.