Bitcoin price advance toward $68K sets a bullish path for SOL, ICP, GRT and BONK

July 21, 2024 Coin Telegraph

and Bonk

Solid inflows into spot Bitcoin ETFs reflect investors' bullish sentiment, and this could push SOL, ICP, GRT and BONK.

Bitcoin (BTC) has been gradually inching higher toward the $70,000 mark, indicating that the sentiment remains positive. United States-based spot Bitcoin exchange-traded funds witnessed inflows of $383 million on July 19, per Farside Investors data. That pushed the cumulative net inflows into the ETFs to more than $17 billion since their launch.

As Bitcoin’s price maintains above $65,000, Bitcoin whales seem to have reduced their selling. CryptoQuant head of research Julio Moreno said in a post on X that selling by large Bitcoin investors has exhausted and “valuation metrics suggest positive momentum.”

Bitcoin’s strength has resulted in a recovery in several altcoins. The cryptocurrency markets may receive a further boost from the launch of Ethereum ETFs, which are expected to start trading on July 23.

<div>Bitcoin hits 16-month high 'positive sentiment' as price sits near K</div>

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

What we know about Kamala Harris’ views on crypto

July 21, 2024 Coin Telegraph

Coin Telegraph

With Joe out of the race, all bets are off.

The vice president of the United States, Kamala Harris, is a bit of an anomaly among Capitol Hill politicians: she’s never had strong words to say for or against digital currencies, tokenization, blockchain, or NFTs.

None of that has mattered for the past four years as US president Joseph Biden has had plenty to say about crypto during his stay in the White House.

But that’s all changed since Biden announced his intent to drop out of the upcoming presidential election. While there’s no guarantee that his vice president will get the democratic nomination, he’s already given Harris his endorsement.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

Germany already lost out on $124M profit selling its Bitcoin

July 21, 2024 Coin Telegraph

Germany already lost out on 4M profit selling its Bitcoin

Bitcoin Price

The State of Saxony, gripped by fears of a sudden Bitcoin price crash, hastily ordered the sale of its 50,000 BTC stash.

The German government recently missed out on an extra $124 million in Bitcoin (BTC) gains by cashing in its holdings a bit too soon.

On July 13, Germany’s Saxony state completed the sale of the 50,000 BTC stash it seized from movie piracy website, movie2k, generating around $2.87 billion. In doing so, they secured a profit of over $740 million when compared to their acquisition cost of $2.13 billion in January.

However, right after their sale, Bitcoin prices skyrocketed by up to 16.55%, driven higher by the assassination attempt on former United States president Donald Trump, which has since boosted his odds of a reelection in November.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

SETI, NASA scientists think AI could teach aliens about Earth

July 21, 2024 Coin Telegraph

chatGPT

The question is: which model best represents humanity?

Artificial intelligence is currently eating the world. Whether you believe it’ll lead to superintelligent machines, the end of humanity, or a bursting bubble, its impact can already be felt in industries around the globe.

It’s also spreading beyond our little blue and green planet. We’ve got AI in satellites, IBM’s Watson did a tour aboard the International Space Station, and NASA is currently working to integrate AI technologies into future spacecraft.

Soon, if a pair of scientists at the forefront of the search for alien life get their way, we’ll be sending chatbots like OpenAI’s ChatGPT to explain humanity and life on Earth to extraterrestrials.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

Bitcoin price ‘explosive move’ puts old $69K all-time high in sight

July 21, 2024 Coin Telegraph

Bitcoin

Bitcoin rescues its longer-term trend as week-to-date BTC price gains aim for double digits.

Bitcoin (BTC) circled $67,000 into the July 21 weekly close as an “extremely explosive move” set the stage for 10% gains.

Data from Cointelegraph Markets Pro and TradingView showed BTC price action spiking to new July highs over the weekend.

The largest cryptocurrency held onto its recovery in out-of-hours trading, this equaling 10.4% week-to-date and 6.6% for July at the time of writing, confirmed by monitoring resource CoinGlass.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

US Bitcoin ETFs see record $17B in net inflows

July 21, 2024 Coin Telegraph

Bitcoin ETFs

The consistent inflows into Bitcoin spot ETFs signal a robust and growing demand for regulated Bitcoin investment vehicles.

In a landmark achievement, US Bitcoin spot exchange-traded funds (ETFs) have cumulatively netted over $17 billion in inflows, setting a new record.

According to data monitored by Farside Investors, the net inflows were driven primarily by BlackRock's IBIT, which alone accumulated $18.968 billion. Fidelity’s FBTC also contributed significantly, with net inflows of $9.962 billion.

Conversely, Grayscale’s GBTC experienced a substantial net outflow of $18.694 billion, highlighting a shifting preference among investors. On July 17, the 11 US spot Bitcoin (BTC) ETFs recorded a total daily net inflow of $53.35 million, marking the ninth consecutive day of positive inflows.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

Arkham transfers $487M ARKMs to Coinbase Prime for tax compliance

July 21, 2024 Coin Telegraph

Arkham

As the unlocking process progresses, Coinbase Custody will play a crucial role in managing the vesting of these tokens.

In a significant move to comply with regulatory and tax requirements, Arkham has withdrawn 304.5 million ARKMs, valued at approximately $487.24 million, from its vesting contract and transferred them to Coinbase Prime custody.

According to the data on its platform, this transaction includes 115.8 million ARKM tokens, worth $185.28 million, owned by Arkham CEO Miguel Morel.

Arkham previously communicated via the X social platform on July 17 and clarified that the team’s tokens must be transferred to Coinbase Prime to ensure proper tax payments and regulatory compliance from July 18 onward.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

ChatGPT X account replicates Joe Biden’s ‘I’m sick’ post

July 21, 2024 Coin Telegraph

2024 election

The official X account for OpenAI’s ChatGPT used the same “I’m sick” post as United States President Joe Biden did before playfully mocking general intelligence.

The X account for OpenAI’s ChatGPT has light-heartedly replicated a post by United States President Joe Biden, which was commonly interpreted as “I’m sick” in relation to his recent positive COVID-19 diagnosis. Biden, however, used the statement with a different twist to mock billionaire investor Elon Musk.

“I’m sick,” ChatGPT wrote in a July 20 post on X, before similarly playing on the words, by elaborating “of general intelligence not being ubiquitous and too cheap to meter.”

It was only two days prior to Biden making a similar “I’m Sick” post before making a claim that Musk is attempting to “buy the election.” The post comes amid Biden facing calls from some in the Democratic Party to step aside in the 2024 election.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

Fractal ID postmortem ties breach to 2022 password hack

July 21, 2024 Coin Telegraph

2022 hack

This breach highlights the ongoing challenges in maintaining data security, especially in today’s centralized storage systems.

Blockchain identity platform Fractal ID has published a postmortem outlining the data breach that the company suffered on July 14. The breach has since been traced back to a 2022 incident where an employee reused a compromised password.

According to Fractal ID, the compromised account belonged to an operator with the platform for three years and had admin rights. This allowed the attacker to bypass internal data privacy systems, though system monitoring helped lock out the attacker within 29 minutes.

The operator’s failure to follow operational security policies and training, along with the reuse of credentials from past hacks, facilitated the breach.

Bitcoin hits 16-month high ‘positive sentiment’ as price sits near $68K

Bitcoin large sellers ‘exhausted’ as $67K price holds

July 21, 2024 Coin Telegraph

<div>Bitcoin large sellers 'exhausted' as K price holds</div>

Coin Telegraph

Bitcoin is seeing a reduction in selling pressure from large investors as its price continues to hold above $67,000.

Bitcoin whales are easing off their selling pressure as Bitcoin continues to gain strength over the past seven days, holding above $67,000.

“Bitcoin large Sellers are exhausted and valuation metrics suggest positive momentum,” CryptoQuant head of research Julio Moreno wrote in a July 20 X post, referring to Bitcoin investors holding a balance of 1,000 to 10,000 Bitcoin.

Moreno added that "realized profits are minimal compared to March or May," when Bitcoin (BTC) exceeded $71,000 in both months. Bitcoin reached its all-time high on March 13, at $73,679.

Coin Telegraph

Share this video