Bitcoin

Pro-crypto Senator Cynthia Lummis is set to introduce legislation that could significantly impact the industry. The Wyoming Republican plans to announce her proposal for a Strategic Bitcoin Reserve at the upcoming Bitcoin Conference in Nashville, according to a report by Fox Business on July 24. This legislation would mark a significant step towards integrating Bitcoin into mainstream financial systems. Anticipation Builds Around Senator Lummis’ Announcement The proposed bill aims to require the Federal Reserve to hold Bitcoin (BTC) as a…

BlackRock’s iShares Bitcoin Trust (IBIT) marked a monumental achievement this Monday, recording an inflow of $526 million. This event represents the ETF’s largest single-day gain since March 13, 2024.  Notably, it also represents IBIT’s seventh-largest daily inflow, with 7,759 Bitcoin added to its holdings. Bitcoin Price Action Neutral Despite Strong Inflows Amid a daily mining output of just 450 BTC, total ETF acquisitions reached approximately 7,860 BTC, valued at around $533 million. This demand shock indicates a positive momentum for…

This past weekend was a relatively volatile one for Bitcoin’s (BTC) price. On July 21, the coin reached $68,6410 following a series of macroeconomic developments. While BTC has been pegged back to $67,218, this on-chain analysis explains why the price could be set to retest a prestigious threshold it has evaded for almost two months. Bitcoin Is Not Ready to Hold Back Bitcoin’s performance over the last seven days has been much better than that of the last month. During…

Crypto veteran Kyle Chassé anticipates a bullish move in Bitcoin price and the broader cryptocurrency market. In his “10-step master plan,” he says BlackRock and Donald Trump play critical roles. The market is abuzz as the crypto community counts down the days until the Bitcoin 2024 Conference, which is only two days away. Key industry billionaires are set to attend. Bitcoin 2024 Buzz: Crypto Veteran’s 10-Step Master Plan Chassé anticipates a bullish move in Bitcoin and crypto, steered by multiple…

The Bitcoin community is actively discussing former US President Donald Trump’s comments at the Republican National Convention on Thursday. In his speech, Trump asserted that El Salvador, under the leadership of Bitcoin advocate President Nayib Bukele, is “dumping criminals” into the US. This has sparked significant debate among Bitcoin enthusiasts and political observers. Bitcoin Enthusiasts Debate Trump’s Claims About El Salvador In a clip that has circulated online, Trump discussed El Salvador’s crime rate, criticizing President Bukele’s method of dealing…

US spot Bitcoin exchange-traded funds (ETFs) have achieved significant success, attracting $2 billion in new funds this month. This surge emphasizes Bitcoin’s status as a leading digital asset that consistently appeals to both institutional and retail investors. US Bitcoin ETFs Now Hold More Than 900,000 BTC According to market data from Farside Investors, US-traded spot Bitcoin ETFs have attracted more than $2 billion in inflows since early July. The past week alone saw a strong cumulative net inflow of more…

The Bitcoin ecosystem is drawing strong institutional interest, with the Chinese gaming giant Boyaa Interactive being the latest to invest. On July 16, the Hong Kong Stock Exchange-listed firm announced a $1 million investment in the UTXO Management Bitcoin Ecosystem Fund. UTXO is the asset management partner of BTC Inc., a Bitcoin ecosystem media and research institution. BTC Inc. is the parent company of Bitcoin Magazine and the organizer of the Bitcoin Conference. Boyaa Targets Web3 Leadership With Bitcoin Move…

Bitcoin’s (BTC) price surged to a one-month high, exceeding $67,000, following weeks of downward trends. This price improvement coincides with several improved metrics for the flagship digital asset. Why Bitcoin Price is Soaring On July 19, Bitcoin’s price increased by about 5%, reaching a one-month high of $67,386—BTC’s highest value since June 13. However, it has slightly retraced and was trading at approximately $66,554 as of press time. Market analysts link this price improvement to several factors, including the end…

On July 14, the total number of Bitcoin (BTC) available on exchanges was 2.99 million. Five days later, that figure considerably increased. An assessment of Glassnode’s data reveals that this number is almost the same as the exchange balance back in March. Will the price react similarly? Major Bitcoin Exodus from Cold Wallets In crypto, history does not exactly repeat itself. However, patterns rhyme. Sometimes, it does not matter if the cycles are years apart. On March 11, Bitcoin’s exchange…