§ Bitcoin's average return in July compare to previous years is +7.42%

Bitcoin's return in last month June -6.96%

The cryptocurrency heatmap is entirely painted in red and there are absolutely no exceptions for the past 24 hours.

One of the worst performers is Solana, which lost around 8% of its price. Others in this category are LINK (-8.5%), SHIB (-8.6%), PEPE (-11%), and so forth.

You would notice that meme coins are having it worse compared to other cryptocurrencies, and that’s true for the entire segment as major memes chart double-digit declines.

Altogether, the cryptocurrency market continues crashing even at the time of this writing, and it’s interesting to see how far down the bears can take the price. It appears that all eyes are currently turned to the critical support at $56K for BTC, so let’s see if that manages to hold up.

#SOFR_Spike #US_Job_Market_Slowdown #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions $BTC

Bitcoin Plummets to $57K, Solana Nosedives 8% Daily (Market Watch)

The cryptocurrency markets are bleeding out in the past 24 hours, with the total capitalization plunging below $2.5 trillion, down 5% on the day.

This comes on the back of notable declines across the board from Bitcoin, Ethereum, BNB, Solana, and pretty much the entire market.

Bitcoin Crashes Toward $57K

At the time of this writing, Bitcoin’s price is trading at around $57,700, down more than 5% over the past 24 hours and pretty much the same for the week.

#SOFR_Spike #US_Job_Market_Slowdown #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions

Bitcoin Losing $60K Handle May Trigger Wave of ETF Liquidations: Analyst

#SOFR_Spike #US_Job_Market_Slowdown #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions
$BTC

XRP and LTC Top Performers as Crypto Market Tumbles.

#SOFR_Spike #US_Job_Market_Slowdown #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions

Binance.US Claims No Evidence of Wrongdoing in SEC Case

Binance.US said that the SEC’s case is unsupported by facts or law while asserting confidence in its position being validated by the court.
Binance.US said that it is prepared to defend itself against the US Securities and Exchange Commission after a court ruled that the regulatory agency’s case against the crypto exchange could continue.

In its official statement on X, the US arm of crypto giant Binance affirmed that the “fight continues.”

The crypto exchange said that it has used the “limited guidance” that the SEC has offered to the crypto industry to operate its business in a compliant way. Binance.US also slammed the SEC’s regulation-by-enforcement strategy and accused the regulatory body of politically motivated overreach under its current leadership.

The company also said that it maintains 1:1 reserves for all customer assets and has strong compliance and risk programs that ensure the safety and security of its platform.

#US_Inflation_Easing_Alert #MiCA #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions

Bitcoin Rebounds After Binance Ruling

 Cryptocurrency prices pared gains Monday after an early rebound above $63,500 after Binance scored a partial victory in its lawsuit against the SEC. Industry experts predict that bitcoin's price could fall even lower as investors experience "summer blues."

Elsewhere, Japanese investment adviser Metaplanet said it bought $1.2 billion of bitcoin. CoinDesk reported that Metaplanet bought 20.2 bitcoin, moving ahead in its strategy to increase its bitcoin holdings by $6 million. The Tokyo-based adviser reported its current holdings at 161.3 BTC.

The Securities and Exchange Commission on May 23 approved 19b-4 forms for eight ether ETF applications, paving the way for spot ethereum ETFs to launch later this year. The S-1 registration statements still need to be approved before the ETFs can officially debut. The SEC did not provide a timetable for a judgment on the S-1 filings.

#US_Inflation_Easing_Alert $BTC $ETH $BNB #MiCA #IntroToCopytrading #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions

Bull Market Emerges After Approval Of ETFs

The value of Bitcoin surged 150% coming into 2024.

And many believe this bull run could last well into 2025.

The price of Bitcoin began 2024 at about $44,000 but had grown to nearly $70,000 by late May. 

In one survey crypto experts said that Bitcoin could hit $77,000 by the end of 2024 and $123,000 by the end of 2025.

There are two major factors influencing the bull market: the approval of spot ETFs and the upcoming halving event.

Brokerages began designing Bitcoin ETFs as early as 2013, but the spot ETF wasn’t approved by the SEC until January 2024.

These funds consist of crypto that’s purchased by the financial firm and then offered as shares to investors. The investors never actually hold any Bitcoin, but the ETF tracks with Bitcoin’s market value.

Demand for crypto has gone up, in part, because these ETFs allow investors to hold a low-cost investment in Bitcoin without operating in a crypto exchange.

This makes crypto more enticing for retail investors but also for wealth management advisors who run 401ks or IRAs.

BlackRock and Fidelity have emerged as the early leaders in the Bitcoin ETF market—Blackrock holds $15 billion in Bitcoin assets and Fidelity has $9 billion.

Robinhood acquires AI-driven investment-advice platform Pluto

Robinhood has expanded in recent years into services including cryptocurrency, retirement products and credit cards.

Robinhood Markets Inc. agreed to buy the artificial-intelligence research platform Pluto Capital Inc. to bring more tailored investment strategies and analysis to the retail brokerage’s users.

Founded by Jacob Sansbury, 24, Pluto is best known for AI-driven personalized investment advice and real-time analytics. Terms of the deal weren’t made public.
#US_Inflation_Easing_Alert
#ETH_ETFs_Approval_Predictions #VanEck_SOL_ETFS #IntroToCopytrading

Collapsed bitcoin exchange Mt. Gox is about to unload $9 billion of coins onto the market. Here’s what it means

The Morning After: The US Treasury finalizes tax rules for crypto

Mat Smith
Engadget

Welcome to the first day of July. Summer is here in earnest, but let me keep you, briefly, indoors with tales of finalized rules for crypto in the US, and how Lego is making bricks from stardust.

A new rule finalized by the US Treasury Department will ensure that people that dipped their toes into crypto (and crypto trading) are paying the proper amount on their sales. The new rule will require cryptocurrency platforms like exchanges and payment processors to report their users' transactions to the IRS. Brokers will have to start reporting sales proceeds on digital assets in 2026 for all transactions accomplished in 2025, which means crypto traders are still on their own for now.

The rule will make easier for people to declare their earnings because their brokers will now have to provide them with a 1099 form. The form has a threshold of $10,000 to report on transactions involving stablecoin, which are cryptocurrencies that track fiat money like the US dollar.
#US_Inflation_Easing_Alert #BitcoinFuture"

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