Price: $62,655 | Last Year: $30,441
"Tickets to escape the matrix are priced in Bitcoin." - Michael Saylor, 21 Rules for Bitcoin
Happy Monday and welcome to July Folks, over the weekend all was quiet for the most part. However, last evening Bitcoin price got 'interesting' as triple candle close sees $63K return. Bitcoin just had its weekly, monthly and quarterly close and three in every four Bitcoin traders on Binance are bullish on $BTC. History suggests Bitcoin poised for rebound in July and Bitcoin tends toward strong performance in July, but Mt. Gox is dampening optimism for a recovery; don't forget every Bitcoin sale will be bought.
Samson Mowsaid that all $BTC sales will be bought and I continue to believe that he knows something that the rest of us don't. Probably that Metaplanet Inc. | 株式会社メタプラネットwas buying another $1.2M worth of Bitcoin as investment strategy progresses; here I thought it was Dell buying :) Fundstrat Global Advisors’s Head of Research Thomas (Tom) Lee explains why $150K Bitcoin by year end is still ‘not off the table.’ According to Ki Young Ju , founder and CEO of cryptocurrency analytics firm CryptoQuant , Bitcoin, the flagship cryptocurrency, is still in a bull market.
Runes TXs on Bitcoin tank over 88% in June as Bitcoin miners have earned less than 2 Bitcoin combined from Runes transactions over the past six days, a significant decrease from the record high of 884 Bitcoin on April 24.
Bitcoin miners are experiencing significant challenges as economic pressures force many to shut down operations and the recent 7.6% drop in Bitcoin mining hashrate mirrors levels seen during the FTX exchange collapse in 2022; in response, miners are turning to innovations like AI and diversifying into other Proof-of-Work assets.
Bankless
Podcast of the Day: Crypto Will Be Worth Hundreds Of Trillions | Dan Tapiero
Meanwhile, Ethereum continued to outperform Bitcoin as the past 7 days $ETH is down 3% and $BTC is down 5%; many believe Altseason is on the way. The $ETH ETF will be delayed a bit since the SEC has come out with comments on some of the S-1 applications so look for mid month for the actual launch. Spot ETFs to have a bigger impact on crypto market price action and Canaccord Genuity Group Inc. noted that institutional adoption of crypto is still growing with more than half of the world’s largest hedge funds now trading or holding spot bitcoin ETFs; Ether spot ETFs should help broaden institutional appetite for other digital assets, the broker said.
Macro guru and Real Vision CEO Raoul Pal says that Solana (SOL) will lead the next market expansion for digital assets.
Circle becomes first stablecoin issuer to become compliant under new EU laws and Circle has received a license to operate in the EU under the Markets in Crypto-Assets regulation. Coinbase and Stripe partner to integrate USDC on Base, enhancing Stripe's crypto product suite and integration enables faster, cheaper money transfers to 150+ countries, with seamless fiat-to-crypto onramp; partnership aims to bridge traditional finance and crypto, promoting USDC's global adoption and utility. Philippines adopts Tether’s USDT for social security payments. In addition, Coinbase will custody digital assets for US Marshals Service and the crypto exchange said the federal agency had selected its institutional investing arm “to provide custody and advanced trading services” for large-cap digital assets.
Number of crypto ATMs installed nears its all-time record as the 2,564 cryptocurrency ATMs installed so far in 2024 are on track to surpass the 2,861 machines removed in 2023.
The Treasury Department announced on June 28 that starting in 2026, most cryptocurrency brokers will be required to disclose user transaction proceeds to the Internal Revenue Service (IRS).
