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Buying for the trust has picked up on hopes the SEC might soon approve a spot bitcoin ETF.
The bank previously said it expected the cryptocurrency to reach $100,000 by then.
The latest price moves in crypto markets in context for July 10, 2023.
China is exporting deflation across the Western world. Ultimately this will be good for risk assets as it relates to the end of the global interest-rate increase cycle, one observer said.
PLUS: The dYdX Foundation's Charles d'Haussy says that dYdX's move away from Ethereum might be the beginning of a broader trend.
The Bureau of Labor Statistics will release the nonfarm payrolls report for June at 12:30 UTC.
Such ETFs have existed for some time in Canada and Europe, but have failed to attract large investor interest, the report said.
PLUS: Bitcoin tumbled below $30,000 for the first time in almost two weeks after a disappointing ADP private sector jobs report and ISM services index, but regained some ground later on Thursday.
The largest and smallest bitcoin whales have added to their holdings, but the group in between has jettisoned some of their tokens.
- 12:04Bitcoin network activity hits a new low for the year, but long-term accumulated addresses still show significant growthThe latest analysis from CryptoQuant shows that the Bitcoin network activity index has fallen to 3760, a 15% drop from its historical high in November 2024 and a new low for the year. This index comprehensively measures multiple indicators such as the number of active addresses, transaction volume, block size, and fees. Daily transactions have dropped from a peak of 734,000 to 346,000, a decrease of 53%; unconfirmed transactions in the Bitcoin mempool fell sharply from 287,000 in December 2024 to just 3,000 - nearly a 99% drop - reaching its lowest level since March 2022. The analysis points out that the decline in Bitcoin network activity is mainly due to a sharp reduction in usage of Runes Protocol; its average daily usage has dropped from an April-2024 high of approximately eight hundred thousand times per day down to ten thousand times currently. However, CryptoQuant analysts believe that this decrease in network activity may not directly affect Bitcoin's price trend. Data shows significant increases over time in accumulated addresses which historically often presage rises in bitcoin prices reflecting market recognition of bitcoin as an investment asset and store value.
- 11:58Ukrainian President Zelensky will attend the Munich Security Conference to discuss ending the Russia-Ukraine conflictAccording to the Associated Press, Ukrainian President Zelensky will lead a delegation to attend the Munich Security Conference next week. The head of the Ukrainian presidential office, Yermak, will also attend the Munich conference. He emphasized that the Ukrainian delegation will present its position on ending the Russo-Ukrainian conflict and realizing a "long-lasting peace" vision. Yermak said: "It is necessary for leaders and political experts attending the Munich conference to realize this momentum. We are very close to truly ending this war through fair and lasting peace, but it is necessary to unite and not give Russia an opportunity to divide the world or partners." US Vice President Pence and President Trump's envoy Kellogg will also attend the Munich Security Conference.
- 11:56Riot Platforms' Bitcoin production reached 527 in January, the highest monthly output since December 2023Riot Platforms (RIOT) mined 527 Bitcoins (BTC) in January, the highest monthly output since December 2023, an increase of 2% month-on-month. In contrast, most major mining companies saw a decline in production in January, such as MARA Holdings (750 BTC, down 13%), Cleanspark (626 BTC, down 6%), Core Scientific (down 13%), Hut 8 (down 31%) and so on. Miners are generally affected by the increasing difficulty of Bitcoin mining. This difficulty is expected to reach a historic high on February 9th, exceeding 108.11T. Despite escalating challenges, Riot CEO Jason Les stated that the company has achieved increased production for two consecutive months. Since the beginning of the year, Cipher Mining's stock price has risen by 27%, while RIOT, IREN and CLSK have also recorded double-digit increases. Meanwhile Bitdeer's(BTDR) fell by 25%.