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Bitcoin is down to one-month lows, and BTC price predictions are tending to assume worse is to come — how much lower can bears manage?
PLUS: BTC's positive vibes may be waning as outflows from BTC investment products rose for the first time in weeks. But mining is in a better state than it was a year ago.
The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
- 04:57Overview of Important Midday Developments on December 197:00-12:00 Keywords: Bank of Japan, MicroStrategy, El Salvador, ENA 1. BTC fell below $100,000; 2. Bank of Japan keeps interest rates unchanged; 3. Hong Kong Monetary Authority cuts interest rates by 25 basis points; 4. MicroStrategy plans to shift to fixed-income securities to raise funds for Bitcoin purchases; 5. El Salvador reaches a $1.4 billion loan agreement with the International Monetary Fund; 6. Sky will focus on fully migrating MKR to SKY next year and launching more subDAOs; 7. Trump family crypto project WLFI bought $250,000 ENA 4 hours ago and converted 103 cbBTC to WBTC.
- 04:55Data: 4.02 million USDT transferred from unknown wallet to Alameda ResearchMonitoring data shows that 1 minute ago, 4,029,291 USDT (worth 4,026,792 US dollars) was transferred from an unknown wallet to Alameda Research.
- 04:54Bitwise CIO: If Ethereum can improve its usability while retaining institutional qualifications, it will see significant development next yearBitwise Chief Investment Officer Matt Hougan posted on X saying: "People's mental model of Ethereum is outdated. The general consensus is that Solana is cheap/simple/fun, while Ethereum is slow/clunky/expensive. But look at what's happening in the AI agency field. Some of the most exciting 'fun' projects, such as Clanker and Virtuals, are unfolding on Ethereum through Base. They feel like Solana projects, but they're not. If Ethereum can retain its institutional qualifications while improving usability, then 2025 will indeed be a good year. This is the Layer2 network thesis playing out in real time."
