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Traders now see a 94% chance of the Fed raising rates by 25 basis points later this month.
Observers call for spot-based bitcoin ETF as the bull market raises cost of pre-expiry rollover of positions for futures-based ETFs.
The forecast is consistent with bitcoin's tendency to chalk out sharp gains in the months after the mining reward halves. The fourth halving is due early next year.
Bitcoin prices have paused with support at $30,000
Even so, spot trading volumes are at historically low levels.
The decentralized cloud storage protocol has seen its market value double this week.
PLUS: The first half of 2023 has so far been very promising for the crypto majors.
PLUS: Dismissing the very real prevalence of Ponzi schemes in GameFi isn't a good look for Web 3.
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.
- 02:53Over 20,000 BTC transferred from long-term holders' wallets in the last 96 hoursBitcoin was proposed by Satoshi Nakamoto on November 1, 2008 and officially born on January 3, 2009. Bitcoin is a peer-to-peer, decentralized cryptocurrency that does not rely on central authority publishing, but is completed in the blockchain through proof-of-work consensus mechanism, commonly known as "mining". Bitcoin uses a distributed database of P2P network nodes to confirm, verify, and record currency transactions, with a total publishing volume of 21 million. On February 7th, on-chain analyst Ali posted on X that "based on Glassnode data, over 20,000 BTC have been transferred from long-term holders' wallets in the past 96 hours."
- 02:49Market dynamics on February 07: BTC continues to fluctuate and fall, U.S. stocks rebound, Trump promises to take measures to lower oil pricesI. Market Dynamics 1. BTC fluctuates and falls, altcoins generally decline. 2. U.S stocks rebound, Trump promises to lower oil prices. II. Market Focus 1. Public chain BERA goes live on major exchanges, rises before falling, with a total market value of 4 billion USD. Ecosystem project BERATARDIO surges. 2. Public chain SOL declines, SOLBTC exchange rate breaks position monthly, in the next half year SOL is likely to underperform BTC. 3. MEME's TST surges significantly. TST is a MEME on the BSC chain; celebrities call for orders and its market value soars from 500 thousand USD by 100 times to 50 million USD within one day.
- 02:31Grayscale Ethereum Mini Trust Fund increased its holdings by 1884 ETH todayGolden Finance reports, according to Arkham monitoring data, about 7 hours ago, Grayscale Ethereum Mini Trust transferred 1884 ETH from CEX hot wallet, worth $5.07 million.