Bitcoin | Crypto

Bloomberg ETF analyst James Seyffart argued that the CLARITY Act should carry virtually no direct effect on Bitcoin's price. In his view, Bitcoin already holds the infrastructure the bill is trying to build for the rest of the industry: commodity treatment, regulated futures, spot ETF access, and institutional custody. That claim sits inside a wider […] The post Bitcoin rose 2% on CLARITY progress while Coinbase, Circle jumped over 8% – but why? appeared first on CryptoSlate.

Bitwise predicted that Hyperliquid and Robinhood TradFi ventures should form the basis for a crypto bull-market comeback that would lift Bitcoin and Ether. Bitcoin (BTC) is “finally showing signs of a bottom,” but the next bull market will have a different source. Key points: In a blog post on Wednesday, Matt Hougan, chief investment officer at crypto asset manager Bitwise, revealed his picks for what will “lift” BTC price action going forward. Read more

Bitcoin trades near $65,978, below the $69,000 level Glassnode treats as the average cost basis for short-term holders, and the Federal Reserve's July 28-29 meeting will decide if this disconnect can be closed. June payrolls rose by only 57,000, unemployment stayed at 4.2%, and revisions cut April and May payrolls by a combined 74,000. Core […] The post Bitcoin’s $69,000 test could expose its whale-led rebound as a fragile Fed gamble appeared first on CryptoSlate.

Grayscale’s head of research said that Bitcoin may have bottomed, arguing that macro factors, such as interest rate decisions as increasingly driving the price action of this maturing asset class. Crypto-focused asset manager Grayscale said that Bitcoin’s price may have bottomed earlier than the traditional four-year cycle, which would imply a cycle low in September or October.  Grayscale’s head of research, Zach Pandl, argued that Bitcoin (BTC) has “grown up” as an asset and is increasingly driven by macroeconomic factors.  “If the Fed forgoes rate hikes and economic growth holds up well, Bitcoin’s price may already have bottomed,” Pandl wrote in a Wednesday report. Read more

Bitcoin is safe today, but signatures, software, custodians and users would need years to coordinate a defense. The post Galaxy puts $5 million behind Bitcoin’s race to migrate before quantum risk arrives appeared first on CryptoSlate.

The good news: Bitcoin is holding onto key support, and rising. The bad news: a "death cross" is still active, and prediction markets are still overwhelmingly bearish.

Bitcoin and US stocks stayed strong in the face of US-Iran escalation as analysis predicted BTC price action outperforming equities later. Bitcoin (BTC) held higher on Wednesday as crypto and risk assets continued to brush off US-Iran war tensions. Key points: Data from TradingView showed BTC/USD down 1% on the day, having earlier hit five-week highs near $67,000. Read more

Bitcoin surged past $66,000 for the first time since early June, extending a recovery that is beginning to repair some of the losses left by the market’s recent downturn. The rebound comes from a much weaker starting point than the price alone suggests. VanEck data showed that investors who sold Bitcoin over the past month […] The post Bitcoin breaks $66,000 but 4 key signals show this rally is far from normal appeared first on CryptoSlate.

Binance set multimonth records for net BTC outflows on Tuesday, adding to an emerging trend of positive inflows to the US spot Bitcoin ETFs. Bitcoin (BTC) buyers are showing “better absorption” at $65,000 after Binance saw its largest net outflow in nearly two years. Key points: New research from onchain analytics platform CryptoQuant released on Wednesday confirms that daily BTC withdrawals from the world’s biggest exchange are outpacing inflows. Read more

Foundry USA asked its mining customers to signal their support for BIP-110, an actively debated proposal seeking to shrink the amount of data that can be stored in a Bitcoin transaction. Foundry USA began asking mining customers to vote on how the pool should signal on Bitcoin Improvement Proposal (BIP-110), a soft fork proposing to shrink how much data can be stored in Bitcoin transactions to limit non-monetary transactions, such as Ordinals, on the Bitcoin network. The world’s largest mining pool by hashrate also released educational resources on the proposal and said that the voting window will close at Bitcoin block 961,632, or sometime in early August. Foundry’s mining clients can cast their votes by accessing a link received via email. Read more

Galaxy pledged up to $5 million in grants for developers working on Bitcoin’s quantum security and elected a council of quantum-advisory experts to research quantum-resistant migration solutions. Galaxy Digital has pledged up to $5 million in grants to open-source developers building post-quantum cryptography for Bitcoin. The company also formed a quantum advisory council under its Bitcoin Quantum Readiness Initiative, which it announced Tuesday. The council includes Barry Sanders, professor and scientific director of Quantum City at the University of Calgary; Damien Bérubé, an MIT Sea Grant Knauss fellow; and Eran Tromer, professor of computer science at Boston University. The grants will fund quantum-resistant upgrade proposals, post-quantum cryptography, Bitcoin signature schemes, wallet and custodian migration tooling and formal security audits. Read more

Bitcoin has climbed back from its June 30 low near $58,500, trading at near $66,000 as of press time. Options traders are still paying steep premiums for protection against another leg down, and traders on perpetual futures markets have resumed paying to hold leveraged long positions. Both readings sit in a middle zone, well short […] The post As Bitcoin breaches $66K its latest bottom signal trapped buyers in a 20% loss appeared first on CryptoSlate.

A breakout above the level in question will require sustained spot buying or Bitcoin could retreat to lower support.

Glassnode reported improving derivatives activity despite muted spot trading in the Bitcoin market.

More than 380 investors supplied the funds, while court approval, penalties and any recovery remain unresolved. The post 380 investors face Bitcoin mining losses after alleged $22M US scheme put just 13% into mining appeared first on CryptoSlate.

For most of the month, traders had a pretty good explanation for Bitcoin's refusal to budge. A dense cluster of options contracts, they argued, was holding the price in a cage between $60,000 and $65,000, with dealers buying dips and selling rallies to stay hedged. Friday's expiry cleared roughly $1.2 billion of that exposure, and […] The post The $1.2 billion options wall came down, and this time Bitcoin actually moved appeared first on CryptoSlate.

Raphael Zagury inherits a large Bitcoin balance sheet and a mandate to prove it can support a durable business. The post Jack Mallers leaves Twenty One as Strike tie-up ends and Bitcoin treasury pressure builds appeared first on CryptoSlate.

Bitcoin and crypto joined US stocks in brushing off US-Iran war escalation and the threat of fresh trade tariffs before the end of the month. Bitcoin (BTC) built on gains at Tuesday’s Wall Street open as crypto echoed resilient US stock markets. Key points: Data from TradingView showed BTC/USD approaching $67,000, closing in on seven-week highs. Read more

The UCITS ETF, CoinShares’ first in Europe, began trading on Deutsche Börse Xetra, tracking a rules-based index of publicly listed BTC miners. CoinShares has launched its first UCITS exchange-traded fund (ETF) in Europe, which tracks publicly listed Bitcoin mining companies, giving European investors exposure to the sector through an Irish-domiciled fund listed on Deutsche Börse Xetra. The CoinShares Bitcoin Mining UCITS ETF began trading Tuesday under the ticker MINE. The physically replicated fund tracks the CoinShares Bitcoin Mining Index, a rules-based basket of listed Bitcoin miners administered by Solactive AG, the asset manager said in an announcement. The ETF was last trading at 19.50 euros ($21.74) per share. Deutsche Börse Xetra data showed 60 units traded for a turnover of 1,184 euros. The similar US-traded CoinShares Bitcoin Mining ETF (WGMI) has net assets of $343.6 million. Read more

Bitcoin climbed above $66,000, extending its advance as exchange-traded fund inflows and a sharp drop in balances on major crypto exchanges eased some of the selling pressure that has weighed on the market since May. Data from CryptoSlate shows that the largest cryptocurrency traded as high as $66,277 and was changing hands near $66,181 as […] The post Bitcoin’s $66,000 price breakout survives continued US-Iran escalation, but a bigger test looms appeared first on CryptoSlate.