Bitcoin Magazine

💰 Bitcoin ETFs see largest inflow since June 5 at $294 million According to Farside data, Bitcoin ETFs experienced a significant surge in inflows on July 8, marking the largest influx since June 5. The total net inflow was $294.8 million. Leading the charge was BlackRock’s IBIT, which recorded an impressive $187.2 million inflow, the largest since June 6. This substantial addition brings BlackRock’s total net inflow to a remarkable $17.9 billion. Fidelity’s FBTC also saw a significant boost, with $61.5 million added, increasing its total net inflow to $9.4 billion. Source https://t.me/Bitcoin_Magazine

🇩🇪 German Government Prepares To Sell Another $900 Million In Bitcoin The government of Germany began readying for its biggest Bitcoin dump yet on Monday, sending $900 million worth of the digital currency to trading venues. It stated the government sent 2738.7 BTC ($155.3 million) to “likely exchanges and market makers” including Kraken, Cumberland, an unidentified address, and an address likely related to an institutional or over-the-counter (OTC) trading service. Cumberland and the unidentified address were first-time recipients of government coins. Source https://t.me/Bitcoin_Magazine

💰 Bitfinex whales boost long positions by 10,000 BTC during Bitcoin correction Bitcoin is still going through its consolidation phase of the cycle, stabilizing around the $57,000 mark. Notably, Bitfinex whales have significantly increased their long-margin positions, now holding 58,595 BTC. This marks an increase of 10,000 BTC since the low of 48,455 BTC on June 13, when Bitcoin’s price was $66,000. This level of long-margin holdings was last seen on March 1, when Bitcoin was climbing to its all-time high, and whales were strategically offloading BTC at the peak. Source https://t.me/Bitcoin_Magazine

💰 Bitcoin Network Sees Second Largest Difficulty Reduction of 2024 Bitcoin’s mining difficulty dropped by 5% this week at block height 850,752 on July 4. This reduction, the second-largest this year, follows a 5.62% drop that occurred on May 9 at block height 842,688. Both significant decreases came after the fourth halving event at block height 840,000. Despite hashprice levels hitting unprecedented lows, the hashrate remains at 582.33 exahash per second (EH/s). Source https://t.me/Bitcoin_Magazine

💰 Bitcoin ETFs score highest net inflows in 30 days amid volatility from Mt. Gox unlocks Despite the price of bitcoin falling as low as $54,000 in recent days, down about 25% from its peak above $73,000 in March, spot bitcoin ETFs had their strongest day of inflows for a month on July 5, gaining $143 million in total. Four out of the 11 top spot bitcoin ETFs saw inflows which added up to over 3,000, worth about $172 million at current prices, with about 80% of that sum going to Fidelity's FBTC fund. The ETF offerings from Bitwise (BITB), Ark 21Shares (ARKB), and VanEck (HODL) drew the remainder of the inflows, while Grayscale's GBTC saw 500 BTC of outflow, worth about $29 million, according to Coinglass data. Source https://t.me/Bitcoin_Magazine

💰 $537 million Binance deposits tied to BTC price drop suggest whales selling: LookOnChain Two wallets have deposited 9,500 to Binance since June 27, potentially indicating whales liquidating nearly $550 million in cryptocurrency. The wallets, first spotted by blockchain analytics firm Lookonchain, could represent whales cashing in on their bitcoin holdings, which are currently valued at $537 million. When the transfers began last week, the stash was worth closer to $575 million. Source https://t.me/Bitcoin_Magazine

💰 Bitcoin suffers fifth largest realized loss since FTX collapse amid Mt. Gox panic Bitcoin’s recent price dip to around $54,000 has triggered one of the largest realized losses since the FTX collapse, specifically the fifth biggest realized loss since. This significant sell-off is primarily attributed to panic selling spurred by news related to Mt. Gox. On July 5, within a one-hour resolution, Bitcoin’s aggregated realized loss soared to $814 million. $587 million of these losses were incurred by short-term holders who had held Bitcoin for one to three months. Source https://t.me/Bitcoin_Magazine

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💰 Mt. Gox moves $2.7B in Bitcoin to new wallet address The collapsed Japanese crypto exchange Mt. Gox has transferred 47,229 Bitcoin (BTC) — worth $2.71 billion at current prices — to a new wallet address in its first major transaction since May. According to blockchain analytics platform Arkham Intelligence, the exchange transferred the Bitcoin at 12:30 am UTC on July 5 out from “cold storage." Source https://t.me/Bitcoin_Magazine

💰 Justin Sun eyes $2.3 billion German Bitcoin stash despite community skepticism Justin Sun claims to be interested in buying the German government’s extensive Bitcoin stash, estimated to be valued at $2.3 billion. Last month, the government began divesting some of these assets via centralized exchanges like Coinbase, Bitstamp, and Kraken. As of press time, it had sold the Bitcoin to a balance of 40,359 BTC, worth $2.3 billion, according to the Arkham Intelligence dashboard. Source https://t.me/Bitcoin_Magazine