Rostin Behnam, Chairman of @CFTC, declares Bitcoin and Ethereum as commodities, not securities, during U.S. Senate testimony. This aligns with an Illinois court ruling on $OHM and $KLIMA. Behnam stresses the need for robust regulatory oversight in the crypto market. #CryptoNews
Federal Reserve Governor Lisa Cook hints at rate cuts, signaling a potential “soft landing” for the US economy. Traders anticipate a 25 basis points cut in September. Bitcoin could surpass $60K if CPI data is favorable. Recent short covering saw Bitcoin peak at $59,350. #Update #Economy #Bitcoin
Former US President Donald Trump will speak at the Bitcoin 2024 conference, advocating for “MADE IN USA” Bitcoin mining and criticizing Biden’s crypto regulations. Debate arises over his genuine intent versus election strategy, with support from industry figures like the Winklevoss Twins. #Bitcoin2024
Bitcoin whales are accumulating as $BTC trades below $60K, with balances up 6.3% monthly, says @cryptoquant_com. Despite market drops, whale activity is strong, hinting at confidence in long-term gains. #Update
Anthony Pompliano (@APompliano) dismisses the idea that a Trump win will trigger a #Bitcoin rally, stressing broader market dynamics and time as key factors. He notes Bitcoin’s resilience despite recent sell-offs and predicts institutional investors will drive future price surges. #Update
Rex Shares launches double-leveraged Bitcoin ETFs, challenging ProShares’ dominance. Analyst Eric Balchunas expects significant market impact. Spot Bitcoin ETFs hit $50B in assets, pushing BTC to a record $70K in March. Matt Tuttle of Tuttle Capital sees expanded digital asset offerings. #Update
Bitcoin mining stocks rebounded Wednesday with $RIOT and $MARA shares up over 1%. Gains of 1.5%+ were seen in $CLSK, $IREN, $CORZ, and $WULF as Bitcoin prices rose from $53,520 to $59,390. #Update
Bitcoin ($BTC) and XRP ($XRP) are in focus as the U.S. Senate Committee and Rep. Ro Khanna’s roundtable discuss future crypto regulations today. With the CFTC Chair and Ripple’s CEO participating, Bitcoin is up nearly 2% ($58,510.62) and XRP at $0.4417. #CryptoRegulations
Malaysia’s largest electricity utility, @Tenaga_Nasional, reports $755M losses from illegal Bitcoin mining since 2018, impacting the energy sector and potentially leading to tariff hikes. Authorities seized $500K in equipment. #BitcoinMining #Update
Northwest Capital Management invested $1,775 in $BLK Bitcoin ETF, acquiring 52 units in Q2 2024. City State Bank and the Bank of New Hampshire also invested. The ETF saw 2134 BTC inflows on July 9, pushing prices near $59K. Institutional adoption of Bitcoin ETFs is rising. #Update
BlackRock’s IBIT ETF holds $18B in BTC, with $121M inflows on July 9. Spot BTC ETFs saw $216.4M inflows Tuesday, sustaining bullish momentum. Bitcoin hit $59.4K intraday high. #CryptoMarket #BTC
On July 8, 2024, U.S. spot Bitcoin ETFs saw a $294.9M influx. BlackRock’s IBIT fund led with $187.21M, followed by Fidelity’s FBTC at $61.54M and Grayscale at $25.08M. This surge reflects growing investor confidence in #cryptocurrencies. #Update
Bitcoin user sends on-chain message to German govt, calling taxes “robbery,” as over 50% of seized BTC is sold on exchanges like $COIN, $BTS, and $KRKN. Prices dip but recover 2.1% in 24 hours. TRON’s @justinsuntron offers to buy the BTC directly. #CryptoNews
Federal Reserve Chair Powell’s testimony has driven Bitcoin ($BTC) up 2.99% to $57,453.86, marking a recovery after recent sell-offs. Altcoins like Ethereum ($ETH) also gained 3.45%, with Solana, $PEPE, $DOGE, $TRON, $BONK, and $SHIB up 1.60%-10.35%. #CryptoNews #Update
