But fear not, dear reader, for this slight stumble is likely just a minor blip on the radar. According to the clever folks at CryptoQuant, the Miners’ Position Index has risen above 2.7, which means that miners are transferring more BTC to exchanges than their one-year average 📈. In the past, this has often signaled a short-term correction, as some miners take profit after strong price gains 💸.
XRP recently broke out past the $2.6 resistance, a level that had been a thorn in the bulls’ side since March. This breakout was on the back of high trading volume and accompanied Bitcoin’s [BTC] foray into uncharted waters. Naturally, the next target would be the psychological $3 resistance.
It’s crypto week in Washington, and things are off to a ripping start, aren’t they? The conservatives in the House have tanked a procedural floor vote, and the final tally was 196-223, with Democrats and GOP hardliners voting against advancing the legislation. Oh dear, it seems the Republicans who voted against wanted the legislation to be packaged together with two other crypto bills for consideration this week. A bit of a kerfuffle, if you ask me.
Now, what exactly happened, you ask? Well, it seems our friends at BigONE were too busy with their shiny collection of over 180 cryptocurrencies to notice some “abnormal movements.” No, not a poltergeist, but rather some rascally hackers up to their tricks, doing a little jig with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and, lo and behold, Dogecoin (DOGE) and Shiba Inu (SHIB) — the two little troublemakers of the meme coin world! 🐕💰
The June Consumer Price Index (CPI) rose 0.3 percent on the month and 2.7 percent year on year, exactly matching the headline forecast but marking the fastest annual pace since February. Core CPI increased 0.2 percent on the month and 2.9 percent on the year, undershooting consensus by a tenth of a point on the monthly print but in line with the annual rate. It’s like the economy is playing a game of “how close can we get to the target without actually hitting it?” 🎯
From the womb of inception over a decade ago, Bitcoin’s proof-of-work backbone has displayed an uncanny capacity for endurance. Its fortress-like security model continues to attract the curious eyes of developers and institutions, much like moths to a flame, if only the flame didn’t burn them so badly. 🔥
In a tweet—ah, the modern-day oracle of truth—Deaton rejoiced over ProShares’ XRP ETF sashaying onto the scene on July 18th. He reminisced about a heroic federal judge two years ago, who bravely proclaimed, “Lo and behold! The altcoin itself is not a security!” Cue the confetti! 🎊 This declaration was the fruit of a laborious battle fought by a valiant brigade of 75,000 XRP holders, who dutifully backed Deaton’s amicus brief like a chosen crew of the intergalactic space fleet.
According to a CoinShares report, Ethereum ETFs have been gobbling up a whopping $10.2 million in inflows last week, while Bitcoin ETFs were left with a rather sour $11.6 million in outflows. This role reversal, with Ether ETFs being net bought and BTC ETFs being net sold, hints at a growing belief in Ethereum’s long-term potential and its ability to diversify crypto portfolios. Data from Sosovalue also shows that spot ETH ETFs have hit record-breaking numbers in the last week. 🚀
In a truly riveting exposé, CRYPTOWZRD pointed out that both Chainlink and LINKBTC are locked in a dramatic standoff, with today’s daily candles closing almost as indeterminate as my breakfast choices. No major pushes here—just a collective holding of breath as everyone waits for a clear signal, especially from LINKBTC, to decide whether it’s party time or nap time. 😴
The 1-hour chart for OP/USDT tells a sad story of a rapid ascent that peaked near $0.71 before plunging into a consolidation phase. This shift was marked by a pattern of lower highs and a stubborn refusal to break through the $0.68 zone.