Bitcoin | Crypto

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.

Michael Saylor-led Strategy sold another $263.5 million of common stock last week, but the company used the fundraising to expand its cash reserve rather than add to its Bitcoin holdings. According to a July 20 SEC filing, the Tysons Corner, Virginia-based company issued 2.73 million Class A shares between July 13 and July 19, while […] The post Strategy’s Bitcoin metrics go negative amid $3.2B cash – sells 7.5M shares but buys 0 BTC for 4 weeks appeared first on CryptoSlate.

Bitcoin beat out local resistance to pass $66,000 amid predictions of as much as 6% BTC price upside if momentum continued. Bitcoin (BTC) passed one-month highs on Tuesday as price action defied the odds to top $66,000. Key points: BTC/USD hit highs of $66,306 on Bitstamp, according to TradingView data. That’s a level last seen on June 17. Read more

Brent crude futures reached $91.42 on July 20, their highest level since June 11, then eased to $88.28 as mediators floated a 10-day US-Iran ceasefire proposal. Bitcoin traded above $65,000 earlier in the session, registering an intraday high at $65,666 and a low at $63,100. As of press time, Bitcoin has now reached $66,313, while […] The post Oil is back near $90, so why is Bitcoin still above $66,000? appeared first on CryptoSlate.

US gross federal debt reached $39.489 trillion on July 15, leaving roughly $511 billion before the $40 trillion threshold, and this debt total strengthens Bitcoin's fixed-supply argument. Treasury currently expects to borrow $671 billion in privately held net marketable debt during the July-to-September quarter, with the estimate built on a $950 billion end-of-September cash balance. […] The post Bitcoin breaks $66k as US debt hits $39.5 trillion creating Bitcoin’s next liquidity test for August 3 appeared first on CryptoSlate.

Despite muted derivatives sentiment, Bitcoin’s decoupling and Strategy’s cash raise set the stage for a potential rally to $70,000. Key takeaways: Bitcoin (BTC) showed relative strength over the past week, despite failing to break above $65,500. More importantly, the cryptocurrency has decoupled from traditional markets as investors took profits in memory-chip makers amid fears of excessive valuations in the artificial intelligence sector. Still, judging by Bitcoin’s derivative metrics, top traders are not particularly confident about a rally toward $70,000. Read more