Global Outlook:
▫️Asian and European market started slightly positive on Monday.
▫️US futures are trading more than 0.50% negative. US Spot Market is closed today because of US Independence Day.
❕Fed will release June FOMC minutes on July 7.
❕US CPI data on July 13. We expect high volatility in the US Market based on these data.
❕FOMC meeting on July 27.
▫️Asian and European market started slightly positive on Monday.
▫️US futures are trading more than 0.50% negative. US Spot Market is closed today because of US Independence Day.
❕Fed will release June FOMC minutes on July 7.
❕US CPI data on July 13. We expect high volatility in the US Market based on these data.
❕FOMC meeting on July 27.
Dutch University recovers Bitcoin ransom payment worth 12x original value
After paying a ransom in Bitcoin (BTC) to regain access to data that was stolen by ransomware, a university in the Netherlands was able to retrieve the cryptocurrency and make a sizeable profit off of it.
Source
After paying a ransom in Bitcoin (BTC) to regain access to data that was stolen by ransomware, a university in the Netherlands was able to retrieve the cryptocurrency and make a sizeable profit off of it.
Source
Visa launches exclusive ‘no-limit’ Bitcoin card in UAE
As the cryptocurrency market expands, more corporations are starting to recognize the opportunities it offers and seek ways to incorporate digital assets in their operations, as well as offer crypto-related services for their customers.
One of these corporations is VISA (NYSE: V), the world’s largest payments network which launched an exclusive VIP crypto credit card called ‘bitcoinblack’ in the United Arab Emirates, a press release stated on July 3.
Source
As the cryptocurrency market expands, more corporations are starting to recognize the opportunities it offers and seek ways to incorporate digital assets in their operations, as well as offer crypto-related services for their customers.
One of these corporations is VISA (NYSE: V), the world’s largest payments network which launched an exclusive VIP crypto credit card called ‘bitcoinblack’ in the United Arab Emirates, a press release stated on July 3.
Source
June: Crypto Fear & Greed Index
✅Chart says that when the market is in 'Extreme Fear' for multiple days , it indicates that market forms a bottom
🔸Dec 2018: Back to back extreme fear in the market was seem and $BTC formed a bottom near $3200.
🔸March 2020: Again, we have seen a big block of extreme fear and BTC formed a bottom near $3800.
🔸June/July 2021: A big big block of extreme fear and BTC bounced from $28000.
🔸June/July 2022: It repeats as we can see a big block of extreme fear for the past month and this indicates that we are close to the season bottom.
✅Chart says that when the market is in 'Extreme Fear' for multiple days , it indicates that market forms a bottom
🔸Dec 2018: Back to back extreme fear in the market was seem and $BTC formed a bottom near $3200.
🔸March 2020: Again, we have seen a big block of extreme fear and BTC formed a bottom near $3800.
🔸June/July 2021: A big big block of extreme fear and BTC bounced from $28000.
🔸June/July 2022: It repeats as we can see a big block of extreme fear for the past month and this indicates that we are close to the season bottom.
Bitcoin Using Gaussian Channel (Weekly)
🔸 Historically when the Gaussian Channel switched to red, BTC is about to print its bottom.
🚩 It took 4 weeks in 2015
🚩 6 weeks in 2018.
🔸 We've just entered the 5th week. RSI’s never been that oversold.
source
🔸 Historically when the Gaussian Channel switched to red, BTC is about to print its bottom.
🚩 It took 4 weeks in 2015
🚩 6 weeks in 2018.
🔸 We've just entered the 5th week. RSI’s never been that oversold.
source
Futures Traders Opened New Positions
🔸 Bitcoin price increased 4% recently. On this pump, open Interest increased by $615million in just a few hours. This will likely result in volatility! To make a guess on which side this Open Interest is added, usually, we can take a look at Funding Rates.
🚩 Funding Rates
🔸 It doesn't give a clear signal. Funding Rates are almost neutral. This means that long and short traders are almost in balance. Leverage added to both sides (long and short) and will increase volatility in the near term
🔸 Bitcoin price increased 4% recently. On this pump, open Interest increased by $615million in just a few hours. This will likely result in volatility! To make a guess on which side this Open Interest is added, usually, we can take a look at Funding Rates.
🚩 Funding Rates
🔸 It doesn't give a clear signal. Funding Rates are almost neutral. This means that long and short traders are almost in balance. Leverage added to both sides (long and short) and will increase volatility in the near term
Bitcoin ‘tourists’ have been purged, only hodlers remain: Glassnode
Active addresses, entities, and transactions on the Bitcoin network are all moving sideways while the number of wallets holding at least some of the assets continues to reach new highs.
So-called “market tourists” are fleeing from Bitcoin (BTC), leaving only long-term investors holding and transacting in the top cryptocurrency, according to blockchain analytics firm Glassnode.
Source
Active addresses, entities, and transactions on the Bitcoin network are all moving sideways while the number of wallets holding at least some of the assets continues to reach new highs.
So-called “market tourists” are fleeing from Bitcoin (BTC), leaving only long-term investors holding and transacting in the top cryptocurrency, according to blockchain analytics firm Glassnode.
Source
Celsius’ Bitcoin Liquidation Price Below $5K as Company Repays $120 Million in Debt
Celsius Network repaid $120 million to Maker, reducing the liquidation price of its DAI loan to below $5,000.
Celsius Network has made several loan repayments to reduce the threshold at which it would be forcibly liquidated.
The loan paybacks have been witnessed on vault #25977, which is said to belong to the firm. According to DeFi Explore, the company began making a string of repayments starting June 14. The latest, which is also the biggest payment (64 million DAI) since that period, happened just yesterday.
Source
Celsius Network repaid $120 million to Maker, reducing the liquidation price of its DAI loan to below $5,000.
Celsius Network has made several loan repayments to reduce the threshold at which it would be forcibly liquidated.
The loan paybacks have been witnessed on vault #25977, which is said to belong to the firm. According to DeFi Explore, the company began making a string of repayments starting June 14. The latest, which is also the biggest payment (64 million DAI) since that period, happened just yesterday.
Source
Bitcoin Historical RVGI (Relative Vigor Index).
🔸 This indicator anticipates changes in market trends & gives signals for overbought & oversold conditions.
🔸 When Blue crosses to red or vice versa it plots potential formations such as bottoms & tops.
🔸 This indicator is currently at the significant key level historically which forms the previous bottom.
🔸 This indicator anticipates changes in market trends & gives signals for overbought & oversold conditions.
🔸 When Blue crosses to red or vice versa it plots potential formations such as bottoms & tops.
🔸 This indicator is currently at the significant key level historically which forms the previous bottom.
Wolf of Wall Street Jordan Belfort: Buy BTC Now, You’ll Make a Profit
Wolf of Wall Street Jordan Belfort has changed his mind about Bitcoin in recent years. Jordan Belfort said he will be “shocked” if the strategy of investing in Bitcoin (BTC) does not prove profitable in the next three to five years.
Belfort is now an author and speaker. He originally found fame when the film that narrates his trajectory in the financial market, The Wolf of Wall Street, went blockbuster.
Source
Wolf of Wall Street Jordan Belfort has changed his mind about Bitcoin in recent years. Jordan Belfort said he will be “shocked” if the strategy of investing in Bitcoin (BTC) does not prove profitable in the next three to five years.
Belfort is now an author and speaker. He originally found fame when the film that narrates his trajectory in the financial market, The Wolf of Wall Street, went blockbuster.
Source
PennyWise crypto-stealing malware spreads through YouTube
A new strain of crypto-malware is being spread via YouTube, tricking users to download software that’s designed to steal data from 30 crypto wallets and crypto-browser extensions.
The malware targets Zcash and Ethereum wallets alongside Electrum, Atomic Wallet and Coinomi, it takes your browser extension and login data and reads your chat logs.
Cyber intelligence company Cyble in a June 30 blog post said it had been tracking the malware known as PennyWise — likely named after the monster in Stephen King’s horror novel It — since it was first identified in May.
Source
A new strain of crypto-malware is being spread via YouTube, tricking users to download software that’s designed to steal data from 30 crypto wallets and crypto-browser extensions.
The malware targets Zcash and Ethereum wallets alongside Electrum, Atomic Wallet and Coinomi, it takes your browser extension and login data and reads your chat logs.
Cyber intelligence company Cyble in a June 30 blog post said it had been tracking the malware known as PennyWise — likely named after the monster in Stephen King’s horror novel It — since it was first identified in May.
Source
Meta Affirms Digital Collectibles Plan Despite Crypto Crash: Report
Facebook parent company Meta (META) is to proceed with its plans to bring digital collectibles to its users, undeterred by the recent sharp downturn in the cryptocurrency market.
New fintech head Stephane Kasriel said the company's plans to bring NFTs to its users have not changed "in any way."
Source
Facebook parent company Meta (META) is to proceed with its plans to bring digital collectibles to its users, undeterred by the recent sharp downturn in the cryptocurrency market.
New fintech head Stephane Kasriel said the company's plans to bring NFTs to its users have not changed "in any way."
Source
Korea and US agree to share investigation data on Terra-Luna
South Korean justice minister Han Dong-hoon was in New York recently to discuss various ways in which the two nations can corporate on investigations associated with financial crimes, especially crypto-related crimes.
The two sides have reportedly agreed to share their latest investigation data around Terra-LUNA, a crypto project under investigation in both countries.
Source
South Korean justice minister Han Dong-hoon was in New York recently to discuss various ways in which the two nations can corporate on investigations associated with financial crimes, especially crypto-related crimes.
The two sides have reportedly agreed to share their latest investigation data around Terra-LUNA, a crypto project under investigation in both countries.
Source
Ethereum Inches Closer to the Merge With Sepolia Testnet Launch
Ethereum has successfully completed its latest testnet for “the Merge.”
Key Takeaways:
🔸Ethereum has shipped "the Merge" on Sepolia testnet.
🔸The top smart contract blockchain is set for one final testnet launch ahead of its mainnet deployment.
🔸The Merge is a highly anticipated update that will see Ethereum move away from Proof-of-Work to Proof-of-Stake.
Source
Ethereum has successfully completed its latest testnet for “the Merge.”
Key Takeaways:
🔸Ethereum has shipped "the Merge" on Sepolia testnet.
🔸The top smart contract blockchain is set for one final testnet launch ahead of its mainnet deployment.
🔸The Merge is a highly anticipated update that will see Ethereum move away from Proof-of-Work to Proof-of-Stake.
Source
Top 10 Rules For Successful Trading
Understanding the importance of each of these trading rules, and how they work together, can help a trader establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive arena.
Understanding the importance of each of these trading rules, and how they work together, can help a trader establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive arena.
Crypto Hater Peter Schiff Would Accept Bitcoin as Payment for His Troubled Bank
Famous cryptocurrency critic Peter Schiff answered in the affirmative when asked if he would sell his troubled Euro Pacific Bank for Bitcoin. Despite his dislike of cryptocurrencies, if such a deal were approved by the regulator, he would agree to it, Schiff said. The economist argued his position with the fact that it is important for him, first and foremost, to protect the bank's clients.
Schiff also agreed with another user that when dealing with cryptocurrencies, one does not have to worry about his bank being shut down but has to worry about Bitcoin collapsing in market value, the investor sarcastically noted.
Source
Famous cryptocurrency critic Peter Schiff answered in the affirmative when asked if he would sell his troubled Euro Pacific Bank for Bitcoin. Despite his dislike of cryptocurrencies, if such a deal were approved by the regulator, he would agree to it, Schiff said. The economist argued his position with the fact that it is important for him, first and foremost, to protect the bank's clients.
Schiff also agreed with another user that when dealing with cryptocurrencies, one does not have to worry about his bank being shut down but has to worry about Bitcoin collapsing in market value, the investor sarcastically noted.
Source