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Bitcoin derivatives turn bearish as traders anticipate sub $60K BTC price

Bitcoin derivatives data suggests that macroeconomic and crypto-specific factors are behind BTC’s recent drop below $60,000.

Bitcoin (BTC) price dropped 5.8% between June 23 and June 24, reaching its lowest level in seven weeks at $59,700. Despite a modest recovery to $60,400, a total of $153 million in leveraged long BTC futures was forcefully liquidated due to insufficient margin. This movement caused derivatives metrics to shift to a neutral sentiment, ending a bullish trend that had lasted five weeks.

Traders are now questioning whether the worsening crypto market conditions indicate a longer bear market or a momentary panic due to miners being forced to cover expenses amid lower profitability and the potential sale of large stashes by known entities. Should traders wait for a dip to $57,500 or increase their positions during this period of fear, uncertainty, and doubt?

Some analysts raised concerns after the failed exchange Mt. Gox bankruptcy estate announced the imminent repayment in Bitcoin. Anonymous influencer fejau stressed that the disbursement announcement could have been anticipated by insiders, which explains the recent price weakness. However, fejau is puzzled by Bitcoin’s performance given the constructive macroeconomic scenario.

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Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

German Government Unloads More Than $195,000,000 Worth of Seized Bitcoin (BTC): Arkham

German Government Unloads More Than 5,000,000 Worth of Seized Bitcoin (BTC): Arkham

Germany is selling a sizable amount of Bitcoin (BTC) that it confiscated as part of an investigation into an illegal movie streaming site. Blockchain analytics firm Arkham says that over the past two days, the German government moved over $195 million worth of Bitcoin to six crypto exchanges, including Coinbase, Kraken and Bitstamp. “German Government […]

The post German Government Unloads More Than $195,000,000 Worth of Seized Bitcoin (BTC): Arkham appeared first on The Daily Hodl.

Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

Germans split on digital euro, most don’t know what it is: Survey

Most Germans have never heard of the digital euro and some who knew of it thought it was a cryptocurrency, a central bank survey found.

Half of Germans in a recent survey said they could see themselves using the digital euro despite many not having heard of it or knowing exactly what it is.

Deutsche Bundesbank’s survey of 2,012 people published on June 4 saw 50% say they could either “definitely” or “probably” imagine using the digital euro — the European Central Bank’s pilot central bank digital currency (CBDC) — if it was an additional payment option.

A quarter said they would “definitely not” use it, about the same said they would “probably not” — 1% said they didn’t know.

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Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

Deutsche Bank Partners With Crypto Fintech Firm Bitpanda To Process Fiat Transactions: Report

Deutsche Bank Partners With Crypto Fintech Firm Bitpanda To Process Fiat Transactions: Report

One of the world’s leading financial service providers is teaming up with Austrian fintech company and crypto broker Bitpanda. According to Reuters, Deutsche Bank is partnering with Bitpanda to provide customers with real-time payment solutions for asset transactions. The partnership will begin rolling out exclusively for German customers. “This means that deposits or withdrawals of […]

The post Deutsche Bank Partners With Crypto Fintech Firm Bitpanda To Process Fiat Transactions: Report appeared first on The Daily Hodl.

Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

Deutsche Bank joins Singapore’s asset tokenization project

Deutsche Bank joined Singapore’s tokenization project soon after reiterating skepticism about transparency about the world’s largest stablecoin, Tether.

Update May 14, 12:35 UTC: This article has been updated to include quotes from Interop Labs CEO Sergey Gorbunov

Deutsche Bank, a German multinational investment bank, is collaborating with Singapore's central bank on asset tokenization.

Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian, which focuses on asset tokenization in wholesale funding markets and decentralized finance (DeFi) applications.

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Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

Blockchain adoption in healthcare faces serious obstacles in Germany

Blockchain technology could enhance healthcare digitalization, but privacy concerns are hampering adoption.

Blockchain technology has expanded beyond cryptocurrency and is now used in a number of applications, including decentralized databases, which can prevent counterfeiting through transparency and security. 

This ability to secure data is particularly valuable to the healthcare sector, where blockchain tech can secure data, enhance data integrity and empower patients to control their data more effectively.

It can also improve transparency in supply chains and verify the authenticity of medicine. Additionally, blockchain aids in healthcare identification and has the potential to enhance biomedical research by simplifying data storage and exchange.

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Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

MIT, German central bank will research CBDC privacy in new project

The Deutsche Bundesbank is the fourth central monetary authority to conduct research in conjunction with MIT’s Digital Currency Initiative.

The Deutsche Bundesbank is the latest monetary authority to team up with the Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) to study central bank digital currency (CBDC). President of the German central bank Joachim Nagel spoke at the launch of the project about challenges ahead for the digital euro.

Nagel told MIT students that the joint research will focus on designing security and privacy measures in a CBDC. The problem is that private digital payment solutions often use third-party services that gain access to consumers’ payment data, which they can use for commercial purposes. In contrast:

Nagel went on the say the current payments system does not work well. “German bank cards, for example, don’t always work in other euro area countries, even if they contain a payment scheme operated by an international company,” he said.

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Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

Germany’s Largest Federal Bank To Offer Crypto Custody to Institutional Clients: Report

Germany’s Largest Federal Bank To Offer Crypto Custody to Institutional Clients: Report

The largest federal bank in Germany, Landesbank Baden-Wurttemberg, is planning to offer cryptocurrency custody services in the second half of 2024, according to a new report. According to Bloomberg, Landesbank Baden-Württemberg is announcing a new partnership with Bitpanda to offer crypto custody services to institutional clients in the second half of 2024. According to the report, […]

The post Germany’s Largest Federal Bank To Offer Crypto Custody to Institutional Clients: Report appeared first on The Daily Hodl.

Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

‘Landmark Year’ for Worldcoin As Eyeball-Scanning Crypto Project Launches in Singapore

‘Landmark Year’ for Worldcoin As Eyeball-Scanning Crypto Project Launches in Singapore

Worldcoin (WLD) has announced its launch in Singapore a week after pausing operations in three other nations. In a new company blog post, Worldcoin – founded by OpenAI CEO Sam Altman – says that its launch in Singapore will cap off a landmark year for the identity verification protocol. “Individuals in Singapore can now verify […]

The post ‘Landmark Year’ for Worldcoin As Eyeball-Scanning Crypto Project Launches in Singapore appeared first on The Daily Hodl.

Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K

Taurus starts credit tokenization as an asset class for German SMEs

Blockchain tokenization provides an alternative means for SMEs to raise capital and liquidity while building diversified investment opportunities.

Teylor, a German-based fintech firm specializing in digitizing small business loans, has joined forces with digital asset infrastructure provider Taurus to turn small and medium enterprise (SME) loans into tokenized assets and provide tokenholders with monthly cashflows.

In the partnership, Teylor originates and manages SME loans through its Teylor credit platform. By tokenizing part of this credit portfolio on the Taurus infrastructure and TDX-regulated marketplace, professional private debt investors could participate in the returns through a secure blockchain-based secondary market.

Blockchain tokenization provides an alternative means for SMEs to raise capital and build liquidity while building diversified investment opportunities. In 2021, Italy’s Azimut group tokenized its first portfolio of loans to Italian SMEs through Sygnum Bank.

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Mt. Gox makes second $900M+ move in a week as Bitcoin taps $76K