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CryptoQuant reports that bitcoin exchange deposit addresses have reached a multi-year low, signaling a potential easing of selling pressure.Bitcoin exchange reserves have dropped by around 15% since the beginning of the year, according to CryptoQuant data.
Interest rates are coming down faster than the market had expected earlier this month.
Share link:In this post: Bitcoin and gold show stronger correlation in 2024, outperforming other assets. Gold spiked after the recent Fed rate cut to 5%, expecting more growth in the coming years. BTC feels selling pressure, preventing a breakout above $60,000.
Share link:In this post: The TON network receives a $30M boost from Bitget and Foresight Ventures. The blockchain’s TVL surged 18-fold to $350M in the last six months, and the ecosystem now has over 1,000 dApps. Bitget and Foresight tighten grip on the telegram-backed blockchain’s governance and future development plans.
Saylor thinks JPMorgan could provide customers with risk-free yield on their Bitcoin. Saifedean says those banks will end up just like Celsius and BlockFi.
- 07:46Thailand plans to allow tourists to use cryptocurrency for spendingAccording to a report by Jinse Finance, Thailand's Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced at an investment seminar in Bangkok that Thailand is preparing to allow tourists to use cryptocurrencies for spending through credit card-linked platforms. The plan is currently under review by the Ministry of Finance and the Bank of Thailand. Under this plan, tourists can link their cryptocurrency holdings to credit cards for local spending, and merchants will receive Thai Baht as usual, typically unaware that the transaction involves cryptocurrency. Additionally, Thailand plans to unify the legal framework of traditional capital markets and the digital asset sector and will launch a blockchain-based "G-Tokens" program, allowing retail investors to purchase fractional units of government bonds.
- 07:39Cryptocurrency Profit-Taking Continues, Dogecoin and Ripple Plunge, Market Focuses on Friday's Inflation DataAccording to a report by CoinDesk, as reported by Jinse Finance, profit-taking in the cryptocurrency market continued ahead of Friday's inflation data release, with Dogecoin and Ripple experiencing sharp declines. Traders are closely watching the upcoming core Personal Consumption Expenditures (PCE) data, a key inflation measure for the Federal Reserve. Despite the uncertainty, inflows into spot ETFs remain steady, with BlackRock's IBIT achieving net inflows for 30 consecutive days. QCP noted a divergence between digital assets and traditional tech stocks, as while cryptocurrencies have maintained solid momentum, fund flows into products like the TQQQ Nasdaq ETF have become cautious.
- 07:19CryptoQuant Analyst: Current Daily Miner Revenue Reaches $50 Million, Previous Historical Peak Was $80 MillionAccording to a report by Jinse Finance, CryptoQuant analyst Axel Adler Jr disclosed that the current daily income of Bitcoin miners is approximately $50 million, which is below the historical peak of $80 million. This indicates that current network activity is at a high level but has not yet reached its peak, with miners earning substantial income while still having room for further growth.