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Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
XRP price is down today, like other top crypto assets, as traders anticipate a Federal Reserve rate hike this week.
One token zoomed 1,200% even though its related project closed in May, data shows.
Bitcoin whales account for the most exchange inflows volumewise since June 2022 as short-term holders become increasingly active.
The highly anticipated project co-founded by OpenAI's Sam Altman launched its token on Monday.
The spot market is in the driver's seat as perpetual futures open interest to market cap ratio remains low, one observer said.
Launch of the token comes alongside protocol launch and prior release of the wallet.
Bitcoin begins to fulfill traders’ downside targets as BTC price action retraces its steps in a crucial macro week.
- 11:47Li Lihui: If the US Fails to Address Its Twin Deficits, the Stability of Its Stablecoins May Be AffectedAccording to a report by Jinse Finance, the "2025 International Monetary Forum" was held on July 27. Li Lihui, former president of the Bank of China, believes that stablecoins offer innovative financial convenience but also pose systemic financial risks. He stated that the United States seeks to tie stablecoins to the US dollar to maintain its global monetary and financial dominance. If the US fails to address its twin deficits, it may affect the stability of its currency. Additionally, he pointed out that Hong Kong stablecoins could be granted more relaxed domestic access under certain conditions to support the internationalization of the renminbi. He also emphasized the need to monitor developments in decentralized financial markets, particularly those led by the US, in order to enhance China's position in the global monetary and financial system.
- 11:32Stablecoin market capitalization increased by 1.64% over the past 7 daysAccording to Jinse Finance, data from DefiLlama shows that the current total market capitalization of stablecoins across the network stands at $265.65 billion, representing a 1.64% increase over the past seven days. Among them, USDT's market share has dropped to 61.9% (down from 62.09% last week).
- 11:07Bitgo Announces Establishment of Local Office in BrazilAccording to Jinse Finance, Bitgo, a US-based cryptocurrency custody service provider, recently announced the establishment of a local office in Brazil, aiming to attract clients from the banking sector interested in entering the cryptocurrency business. The company will also offer insurance services to clients using its solutions.