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The largest cryptocurrency by market cap tends to rally in the month of July, the report said.
The latest price moves in crypto markets in context for July 5, 2023.
Copies of several meme coins have popped across the board in a trend that’s likely to die out within weeks.
The 90-day rolling correlation between bitcoin and Nasdaq, S&P 500 is now at the lowest level observed since July 2021, according to data tracked by crypto derivatives analytics firm Block Scholes.
Still, bitcoin miners’ inventory sales climbed to a record as they took advantage of the cryptocurrency’s strong performance, the report said.
A bullish flag looks to be forming and would be completed on a breakout above $31,900, analysts at Fairlead Strategies said.
The bitcoin cash-Korean won (BCH/KRW) pair listed on Upbit has registered a trading volume of $557.63 million in the past 24 hours. That's nearly 3.5 times
It would be unusual for bitcoin to stay bullish when fiat liquidity measures are pointing lower, one portfolio manager said.
Shares in Coinbase, chosen as the market for the surveillance-sharing agreements in ETF applications, rose above $80 at around 11:30 ET on Monday.
A large ether bull call spread crossed the tape Friday, according to Amberdata. The trade involved December call options with strike prices at $1,900 and $2,500.
- 09:35The Zaar Chain testnet based on Initia is now onlineAccording to official news, the Zaar Chain testnet based on Initia is now online. The first game of this ecosystem, Zaar Flip, is also online. In the future, Zaar Flip will introduce more sections such as Zlinko, Zaar Raffles, Zaar Pot and NFT Trading. Zaar Chain is a gaming platform based on Interwoven Stack that provides users with a fair, transparent and seamless gaming experience. In addition, Zaar Chain will integrate Sudoswap to consolidate its position as the cultural and gaming center of Initia.
- 09:33SoSoValue Analyst: Twenty states across the U.S. have advanced legislation for Bitcoin strategic reserves, and the potential purchasing power of public funds could reshape the structure of the BitcoinAccording to a message from ChainCatcher, as per SoSovalue statistics, up until now, twenty state-level administrative regions across the United States have initiated relevant legislative procedures. Fifteen of these states' bills have been formally accepted by the Senate and entered the committee review stage, forming operational draft laws. A wave of regional legislation is forming in the US around Bitcoin strategic reserve bills. Taking Utah as an example, Bill HB0230 will allow four public funds in the state (namely State Disaster Recovery Restricted Account, General Fund Budget Reserve Account, Income Tax Fund Budget Reserve Account and Medical Assistance Growth Reduction and Budget Stability Account) to invest up to 5% of their total assets in Bitcoin. According to data from Utah's financial report for 2024, this means potential purchasing power exceeding $70 million. SoSovalue analysts stated that not only does the Strategic Bitcoin Reserve Bill represent a new breakthrough for Bitcoin within traditional financial systems but it also marks historic progress. As more state governments explore similar strategies, trends towards public funds holding Bitcoins could reshape global market definitions of Bitcoin as an asset class. It suggests that Bitcoin is not just defined as digital gold but also forms part of national and institutional asset allocation strategies further consolidating its position within global financial systems.
- 09:31IntoTheBlock: The trading volume of Base ecosystem tokens has dropped 78% compared to December last yearAccording to a report by IntoTheBlock, although Base quickly became one of the preferred platforms for retail traders in the Ethereum Layer-2 ecosystem in 2024, recent market corrections have put pressure on its ecosystem. The data shows that currently only a minority of token holders in the Base ecosystem are profitable, which has reduced the enthusiasm of retail investors. In terms of trading volume, the on-chain trading volume of 8 Base ecosystem tokens tracked by IntoTheBlock has dropped by 78% since December 2024.