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🔥 SoSo Value Daily Crypto Hot News｜2024/07/12 1/ The German government transferred 152 bitcoins to Cumberland DRW, worth approximately 8.87 million US dollars. - Link & Insights 2/ German Government Transfers Thousands of Bitcoins to Exchanges and Market Makers Amid Criticism - Link & Insights 3/ BTC spot ETF total net inflow was $147.37M yesterday, marking a 4 days of consistent inflow. - Link & Insights 4/ U.S. Bureau of Labor Statistics to Release June 2024 CPI Data - Link & Insights 5/ Binance to Sell Stake in Gopax Operator Streami to Megazone - Link & Insights 6/ FTX's lawyer requests the court to dismiss Jump Trading's $264 million damages claim. - Link & Insights 7/ Crypto Market Rebound Expected in August, Liquidations to Finish By July-End: JPMorgan - Link & Insights 8/ Bitcoin price falls below 57000 USDT, with an intraday decline of 0.71% - Link & Insights 9/ Covalent completes token migration from CQT to CXT - Link & Insights 10/ Pyth Network has released a new product, Express Relay, to address the DeFi MEV issue. - Link & Insights 🤖 Source｜ SoSo Value 24H Hot News ————————— Follow us on🔔 Website | X | Telegram | YouTube | Linkedin

📅Key Event Reminders (GMT+8 ) - 8:30 PM: US June PPI (expected +2.3% YoY, previous +2.2%; expected +0.1% MoM, previous -0.2%), core PPI (expected +2.5% YoY, previous +2.3%; expected +0.1% MoM, previous flat). Current expectations for September PCE MoM growth are below 0.2%. ————————— Follow us on🔔 Website | X | Telegram | YouTube | Linkedin

📣Friday 07/12/2024, Macro Newsletter 📈Market Performance 📘US markets are mixed - Dow Jones +0.08%, Nasdaq -1.95%, S&P 500 -0.88%, Russell 2000 +3.57%. - 2-year US Treasury yield -10.4 bps at 4.526%, 10-year US Treasury yield -7.2 bps at 4.217%. - Dollar Index -0.53% at 104.4474, VIX +0.54% at 12.92. Brent Crude +0.62% at $85.61. 📘Chinese concept stocks are motsly up - Nasdaq Golden Dragon China Index +2.24%, Pinduoduo +0.85%, Alibaba +3.30%, JD.com +6.99%, NetEase +1.88%, Li Auto +3.42%, XPeng +7.56%, NIO +0.97%. 📘European markets are mostly up: - FTSE 100 +0.36%, CAC 40 +0.71%, DAX +0.69%. - EUR/USD +0.33% at 1.0866. 📘Asian and emerging markets are mixed: - Nikkei 225 +0.94%, KOSPI +0.81%, SENSEX 30 -0.03%, Jakarta Composite +0.18%, Ho Chi Minh Index -0.17%, Mexican IPC +0.26%. 📍📍Top Story 📘US June CPI up 3.0% YoY, expected +3.1%, previous +3.3%; MoM -0.1%, expected +0.1%, previous flat. US June core CPI up 3.3% YoY, expected +3.4%, previous +3.4%; MoM +0.1%, expected +0.2%, previous +0.2%. ✍️Commentary: June CPI again fell below expectations, with core CPI MoM growth returning to 0.1%, the lowest this year, driven by lower-than-expected rent growth. June rent growth was only 0.2% MoM. The long-awaited cooling of rent inflation is finally reflected in CPI, helping the Fed believe CPI will weaken in the second half of the year. With the Fed's rate cut threshold being three consecutive months of improved inflation MoM, both May and June inflation data have been promising, making a September rate cut highly likely. Attention should be paid to the Fed meeting on July 30 and upcoming speeches by officials to see if their tone on rate cuts changes. 📘Fed officials affirm latest inflation data, signaling a dovish shift. - San Francisco Fed President Daly (2024 voter, neutral) indicated that given recent employment and inflation data, rates may need adjustment. Daly stated that risks to the dual mandate of price stability and full employment are now well balanced, and monetary policy is working. Based on received data including employment, inflation, GDP growth, and economic outlook, some policy adjustments are likely needed. - Chicago Fed President Goolsbee (July interim voter, dovish) said the June inflation report was excellent, and he is open to a pause after one rate cut or a series of cuts. He stressed that political considerations will not influence rate decisions, there is no need to panic about unemployment, and the job market remains strong. As inflation falls, keeping rates steady implies tighter policy. The labor market is cooling but remains robust, not indicative of a recession start. Financial conditions are fairly restrictive. 📘US initial jobless claims for the week ending July 6 were 222,000, expected 236,000, previous 239,000 (revised from 238,000). Continuing claims for the week ending June 29 were 1.852 million, expected 1.860 million, previous 1.856 million (revised from 1.858 million). ✍️Commentary: Initial jobless claims were lower than expected, possibly due to annual auto plant shutdowns for retooling, adding noise to the weekly data. The overall labor market trend continues to cool gradually. 📘Biden mistakenly referred to Zelensky as Putin, then corrected himself. During a speech at the NATO summit in Washington, Biden said, "Ladies and gentlemen, now I hand over to President Putin of Ukraine, who has both courage and determination." On Thursday, July 11, at 6:30 PM ET, President Biden will hold a solo press conference. This is his first formal solo press conference since November 2023. He will answer questions on a wide range of topics, with markets closely watching his performance. Reports indicate Biden made another slip, calling Vice President Harris "Trump," and mentioned slowing down after the debate error, saying his schedule has been boring.

German Government Transfers Thousands of Bitcoins to Exchanges and Market Makers Amid Criticism The German government has been actively transferring significant amounts of bitcoins to various exchanges and market makers. According to Arkham, a blockchain analytics platform, recent transactions include sending 133.722 bitcoins to Cumberland DRW, 150 to Kraken, 1,000 to B2C2 Group, 300 each to Coinbase and Bitstamp, and 1,000 to Flow Traders. These transfers are part of a broader selling spree, which also saw 250 bitcoins each moved to Bitstamp and Coinbase, and 500 to an unlabelled address earlier on the same day. This strategy has faced criticism from Joana Cotar, a member of the German Bundestag and bitcoin advocate, who argues that the government should hold bitcoin as a strategic reserve rather than selling it. Despite these sales, the price of bitcoin has remained relatively stable, showing a minor decrease of less than 0.6% over the past 24 hours. The German government still retains over $2 billion in bitcoin. Illinois Confirms BTC and ETH as Digital Commodities, Crypto Regulation Policies Continuously Developing The Illinois court has confirmed Bitcoin (BTC) and Ethereum (ETH) as digital commodities, but this ruling only applies to the state of Illinois and does not represent the stance of other states or the federal government. Several states in the U.S. have confirmed BTC and ETH as commodities through court cases, while the SEC has expressed its view on considering most cryptocurrencies as securities on multiple occasions. Illinois is pushing for a cryptocurrency licensing regime similar to New York's BitLicense, requiring cryptocurrency companies to meet strict security and compliance requirements. Additionally, Illinois imposes capital gains tax on cryptocurrency transactions and emphasizes consumer protection measures. BTC spot ETF total net inflow was $147.37M yesterday, marking a 4 days of consistent inflow. According to SoSoValue, as of July 10th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $147.37M. Yesterday, Grayscale's ETF GBTC had a net outflow of $8.15M, bringing GBTC's total historical net outflow to $18.62B. The Bitcoin spot ETF with the highest net inflow for the day was Fidelity's ETF FBTC, with a daily net inflow of $57.79M, with FBTC's total historical net inflow reaching $9.57B. Following that, Franklin's ETF EZBC had a daily net inflow of $31.66M, with EZBC's total historical net inflow reaching $378.87M. Malaysian illegal cryptocurrency miner stole over $700 million in electricity in six years. In Malaysia, illegal cryptocurrency miners have stolen a total of $723 million worth of electricity over the past six years (2018 to 2023). Akmal Nasir, the Deputy Minister of Energy and Water in Malaysia, revealed during a seizure operation that these illegal activities involved 2,022 Bitcoin mining machines and their related power equipment, with a total value of approximately $467,000. This illicit mining behavior has not only impacted electricity providers but also harmed the interests of local residents. ————————— Follow us on🔔 Website | X | Telegram | YouTube | Linkedin

SoSo Web3 Newsletter | Jul 11 🔐 Crypto Market Overview Total Market Cap - $2.27T / 24H +0.796% 24H Total Trading Volume - $76.92B / 24H -1.74% BTC Price - $58,532 / 24H +1.34% Market Cap - $1.15T / Dom 50.9% 24h Trading Volume - $27.35B / Dom +35.6% ETH Price - $3,178.7 / 24H +2.33% Market Cap - $382.10B / Dom 16.9% 24h Trading Volume - $15.76B / Dom +20.5% 📊 Bitcoin ETF Tracker | 2024-07-10 🟩 Daily Total Net Inflow +$147.37M 💰 Total Value Traded $1.25B 🏦 Total Net Assets $50.62B 📊 ETF Market Value Ratio 4.47% 🥇 Net Inflows/Outflows for Each ETF 🟩 FBTC +$57.79M 🟩 EZBC +$31.66M 🟩 IBIT +$22.24M 🟩 BRRR +$20.68M 🟩 BTCO +$9.47M 🟩 ARKB +$5.74M 🟩 BITB +$4.70M 🟩 HODL +$3.25M ⬜️ BTCW $0 ⬜️ DEFI $0 🟥 GBTC -$8.15M Note: Only data disclosed and updated by the ETF issuer is included.Real-time tracking of Bitcoin ETF data: https://sosovalue.com/assets/etf 🔥 Crypto Sector Tracker Top 3 📈 - RWA +5.32% / Payment +3.52% / Layer2 +3.45% Top 3 📉 - AI -0.354% / SocialFi -0.166% 📈 Top 5 Token Gainers DFL 24H +138% / $0.0022 DOP 24H +75% / $0.03004 ALEX 24H +52.1% / $0.1281 FX 24H +32.7% / $0.15919 TENET 24H +23.5% / $0.01235 🌟 Crypto Institution & Influencer $BTC - BTW0205 Germany is still selling, but the market remains calm, with some even rising! This time, Germany can be considered as conducting a stress test for #BTC. In reality, the pressure between Mentougou and Germany is just emotional and psychological pressure, and most of it has been released! The "German government" address may have sold BTC worth $496 million in the past 16 hours. $BTC - CryptoGirlNova Bitcoin ETFs have taken $654m in the last 3 trading days. Guess this explains why Bitcoin's price has absorbed the sell pressure from the German Government entirely ETF > German Government 🤝 $WLD - 0xJamesXXX RT @0xJamesXXX: Why do I think WorldCoin Chain will change the L2 competition landscape? I list a few core advantages below, these advantages are relative to the entire on-chain ecosystem, not just compared to other L2 solutions. 1. Worldcoin Chain will be the first to comprehensively own the end-to-end... $DEFI - 0xJamesXXX Although my current expectation of 'KYC for public chain user addresses' is considered 'unacceptable' by many blockchain industry practitioners. For them, 'anonymity' is one of the three core values of blockchain applications. However, as I predicted in the later stages of DeFi Summer: 'The development direction of on-chain finance must involve more centralized team-managed financial products, so most projects in the future cannot be called DeFi, but should be collectively referred to as onchain-Fi.' I believe that many projects this year, as well as the popular concept of ceDeFi, have confirmed this expectation. $BTC,$ETH - cryptonerdcn Although not explicitly stated in the tweet, a look at the forum proposals reveals the following: In the future, as part of Starknet’s Consensus protocol, Stakers will be responsible for maintaining and securing the network by producing, attesting, and proving blocks. This aligns with my expectations, as it is preparation for future decentralized sequencers and staking (you can think of it as ETH's POS nodes or BTC's miners). Of course, it's too early to discuss these matters before the network activities pick up; Starknet needs more marketing. 🔥 Crypto 24H Hot News The German government transferred 152 bitcoins to Cumberland DRW, worth approximately 8.87 million US dollars. A wallet address of the German government recently transferred approximately 152 bitcoins to Cumberland DRW, with a total value of around 8.87 million dollars. This transaction was completed using blockchain technology, and the transaction details were provided by Arkham Data.

🔥 SoSo Value Daily Crypto Hot News｜2024/07/11 1/ German Government Transfers Thousands of Bitcoins to Exchanges and Market Makers Amid Criticism - Link & Insights 2/ The German government sold nearly 500 million US dollars worth of Bitcoin in the past 16 hours. - Link & Insights 3/ Bitcoin price falls below 58000 USDT, with a 0.82% decrease in the last 24 hours. - Link & Insights 4/ Lithuania Imposes Record Fine on Crypto Company Over Sanctions - Link & Insights 5/ BTC spot ETF total net inflow was $216.33M yesterday, with the net asset ratio reaching 4.45%. - Link & Insights 6/ Cambodia's Huione Guarantee Enables Global Scams Worth $11 Billion: Report - Link & Insights 7/ Illinois Court Confirms BTC and ETH as Digital Commodities Under Commodity Trading Law - Link & Insights 8/ Goldman Sachs plans to launch three tokenization projects by the end of the year. - Link & Insights 9/ Animoca Brands' first-quarter sales increased by 72%, reaching 90 million US dollars - Link & Insights 10/ The Bank of Italy is about to release application guidelines for the new EU cryptocurrency regulations. - Link & Insights 🤖 Source｜ SoSo Value 24H Hot News ————————— Follow us on🔔 Website | X | Telegram | YouTube | Linkedin

📣Thursday 07/11/2024, Macro Newsletter 📈Market Performance 📘US markets are all up - Dow Jones +1.09%, Nasdaq +1.18%, S&P 500 +1.02%, Russell 2000 +1.10%. - 2-year US Treasury yield -0.7 bps at 4.630%, 10-year US Treasury yield +1.2 bps at 4.289%. - Dollar Index -0.12% at 105.0023, VIX +2.72% at 12.85. Brent Crude +0.93% at $85.45. 📘Chinese concept stocks are mixed - Nasdaq Golden Dragon China Index -0.04%, Pinduoduo +0.25%, Alibaba +0.39%, JD.com -0.22%, NetEase -3.65%, Li Auto +3.03%, XPeng +7.46%, NIO +2.56%. 📘European markets are mostly up: - FTSE 100 +0.66%, CAC 40 +0.86%, DAX +0.94%. - EUR/USD +0.02% at 1.0832. 📘Asian and emerging markets are mixed: - Nikkei 225 +0.61%, KOSPI +0.02%, SENSEX 30 -0.53%, Jakarta Composite +0.24%, Ho Chi Minh Index -0.60%, Mexican IPC +1.78%. 📍📍Top Story 📘Powell testified before the US House of Representatives on Wednesday, providing no new incremental information and emphasizing the Fed's independence. - Rate cut expectations: Rate cuts do not have to wait until inflation is down to 2%, but confidence in curbing inflation is still insufficient. Powell expressed some confidence that inflation has indeed retreated to some extent and that the data on this issue is quite clear, but he is not yet ready to say there is sufficient confidence. The US labor market has cooled significantly. Promoting employment is one of the Fed's dual mandates; delaying or insufficiently cutting rates could unduly weaken economic activity and employment. - Fed independence: Over the past two years, he has had no substantive exchanges with President Biden, refuting claims that a rate cut in September could be seen as a political move ahead of the fall presidential election. 📘China's June CPI rose 0.2% year-on-year, expected +0.40%, previous +0.30%; month-on-month -0.2%, expected -0.1%, previous -0.1%. China's June PPI fell 0.8% year-on-year, expected -0.80%, previous -1.40%; month-on-month -0.2%, previous +0.2%. ✍️Commentary: June CPI continued to be below expectations, mainly supported by pork and water, electricity, and fuel, while other items were weak, indicating continued weak domestic demand and no change in the logic of a weak macroeconomic base. 📘At the NATO meeting, the US and Germany announced plans for the US to deploy longer-range missiles in Germany starting in 2026 as a response to the Russian threat, and strengthened language towards China. This deployment is the most powerful US weapons deployment in Europe since the Cold War and a clear warning to Putin. NATO allies expressed concerns about attacks on allied sovereignty and territorial integrity in a communiqué and announced plans to provide at least 40 billion euros in military aid to Ukraine next year. NATO also strengthened its rhetoric towards China, calling it a "decisive booster" for Russia in the Ukraine war and a systemic challenge to Euro-Atlantic security. The communiqué urged China to stop supporting Russia's war and expressed concerns about China's space capabilities and nuclear arsenal expansion, calling on China to engage in talks to reduce strategic risks. 📅Key Event Reminders (GMT+8 ) - 8:30 PM: US June CPI (expected +3.1% YoY, previous +3.3%; expected +0.1% MoM, previous unchanged), Core CPI (expected +3.4% YoY, previous +3.4%; expected +0.2% MoM, previous +0.2%). Last month's rent rebounded, and this month's growth rate is widely expected to slow. ————————— Follow us on🔔 Website | X | Telegram | YouTube | Linkedin

🔥 Crypto 24H Hot News German Government Transfers Thousands of Bitcoins to Exchanges and Market Makers Amid Criticism The German government has been actively transferring significant amounts of bitcoins to various exchanges and market makers. According to Arkham, a blockchain analytics platform, recent transactions include sending 133.722 bitcoins to Cumberland DRW, 150 to Kraken, 1,000 to B2C2 Group, 300 each to Coinbase and Bitstamp, and 1,000 to Flow Traders. These transfers are part of a broader selling spree, which also saw 250 bitcoins each moved to Bitstamp and Coinbase, and 500 to an unlabelled address earlier on the same day. This strategy has faced criticism from Joana Cotar, a member of the German Bundestag and bitcoin advocate, who argues that the government should hold bitcoin as a strategic reserve rather than selling it. Despite these sales, the price of bitcoin has remained relatively stable, showing a minor decrease of less than 0.6% over the past 24 hours. The German government still retains over $2 billion in bitcoin. Polychain Accuses Ex-Partner of Undisclosed Deal with Portfolio Company Polychain accuses former employee Niraj Pant of making a secret deal with Eclipse Labs, where Polychain led a $6 million pre-seed round for the company, and Eclipse Labs quietly allocated 5% of Pant's upcoming Eclipse tokens, which was eventually reduced to 1.33%, worth about $13.3 million. Bitcoin price falls below 59000 USDT, with a daily increase of 2.95% Bitcoin price has dropped below 59000 USDT. According to Bitget's market data, the current price of Bitcoin is 58970 USDT; however, its intraday increase is still 2.95%. BTC spot ETF total net inflow was $216.33M yesterday, with the net asset ratio reaching 4.45%. According to SoSoValue, as of July 9th (Eastern Time), Bitcoin spot ETFs experienced a total net inflow of $216.33M. Yesterday, Grayscale's ETF GBTC had a net outflow of $37.50M, bringing GBTC's total historical net outflow to $18.62B. The Bitcoin spot ETF with the highest net inflow for the day was BlackRock's ETF IBIT, with a daily net inflow of $121.03M, with IBIT's total historical net inflow reaching $18.05B. Following that, Fidelity's ETF FBTC had a daily net inflow of $90.95M, with FBTC's total historical net inflow reaching $9.51B. As of this writing, the total net asset value of Bitcoin spot ETFs stands at $50.79B, with the ETF net asset ratio (the market value relative to the total market value of Bitcoin) reaching 4.45%. The historical cumulative net inflow has reached $15.27B. German Government Bitcoin Transfers and Holdings Overview On July 9, the German government transferred a total of 4,614.9 BTC ($264.97M) to exchanges and market makers today. Since June 19, German government has transferred a total of 27,012.9 BTC ($1.58B). It currently holds 22,846 BTC ($1.31B). ————————— Follow us on🔔 Website | X | Telegram | YouTube | Linkedin

SoSo Web3 Newsletter | Jul 10 🔐 Crypto Market Overview Total Market Cap - $2.24T / 24H +0.938% 24H Total Trading Volume - $78.29B / 24H -35.9% BTC Price - $57,753 / 24H +0.747% Market Cap - $1.14T / Dom 50.8% 24h Trading Volume - $28.85B / Dom +36.9% ETH Price - $3,104.7 / 24H +1.18% Market Cap - $373.20B / Dom 16.7% 24h Trading Volume - $14.13B / Dom +18% 📊 Bitcoin ETF Tracker | 2024-07-09 🟩 Daily Total Net Inflow +$216.33M 💰 Total Value Traded $1.19B 🏦 Total Net Assets $50.79B 📊 ETF Market Value Ratio 4.45% 🥇 Net Inflows/Outflows for Each ETF 🟩 IBIT +$121.03M 🟩 FBTC +$90.95M 🟩 ARKB +$43.30M 🟩 HODL +$3.27M ⬜️ BTCO $0 ⬜️ BTCW $0 ⬜️ BRRR $0 ⬜️ EZBC $0 ⬜️ DEFI $0 🟥 BITB -$4.72M 🟥 GBTC -$37.50M Note: Only data disclosed and updated by the ETF issuer is included.Real-time tracking of Bitcoin ETF data: https://sosovalue.com/assets/etf 🔥 Crypto Sector Tracker Top 3 📈 - Layer2 +3.46% / AI +3.19% / RWA +2.8% Top 3 📉 - 📈 Top 5 Token Gainers DOP 24H +72.1% / $0.03004 SD 24H +61.4% / $0.659 CTXC 24H +42.5% / $0.1841 WOM 24H +30.2% / $0.02554 HONEY 24H +27.1% / $0.0741 🌟 Crypto Institution & Influencer $BTC - EricBalchunas (Senior ETF Analyst for Bloomberg) Bitcoin had 20% drawdown in a month flat. Pretty nasty. I would have been impressed if 90% of aum hung in there but it was over 100% as they saw inflows. The Boomers hung tough, even tougher than I predicted, and kept the all imp YTD net number at +$15b. Hanging tough during drawdowns is as or more imp then inflows during rallies for long term net assets- just ask Vanguard. $ETH - gakonst (Paradigm CTO) ExEx backfills! Faster full nodes! Reth 1.0.1 is out! -source $BTC - ki_young_ju (Founder & CEO of CryptoQuant) This cycle hasn't had a long squeeze yet. Long/short squeeze ratio can indicate a cascade liquidation event when high. (= hourly liquidation vol / total taker vol) This year, #Bitcoin had two short squeezes at $66K. In the last cycle, there were four long squeezes at $55K. https://t.co/bDtaTLphRl $BNB,$MKR,$UNI - LeePima (Continue Capital Co-founder) We should not only focus on dividends and ignore buybacks. It is more important to consider the astonishing buyback amounts in the top US stocks over the past decade. In the long term, stock prices are definitely determined by the profits they generate. Due to its short history, the cryptocurrency market has many areas that need improvement in terms of capital structure, valuation systems, laws, and regulations. It is also a gathering place for retail investors, many of whom lack common investment knowledge, leading to strong volatility. However, this does not mean that we are not part of the investment system; it's just a matter of time. In the long run, the dominance of the DCF valuation model will continue to ferment and improve in the cryptocurrency market. There are two types of buybacks. One type is where the protocol/project itself lacks the ability to buy back because it cannot generate profits or free cash flow. In this case, it should be classified under the MEME category without pretending to create value. The other type, like UNI, has the ability to buy back but chooses not to for various reasons. Either the money earned goes to the team, or there is a fear of laws and regulations. In any case, various factors lead to the decision not to buy back. In fact, the first step in the cryptocurrency market should be similar to Buffett's approach. By investing/taking stakes, pressure should be exerted on the five major Japanese associations to distribute dividends/buy back on a large scale (of course, I prefer the buyback model, and I won't go into specific details here). For profitable projects/protocols, there should be a mandatory large-scale buyback. Projects that do not consider shareholder interests are definitely not good projects. Personally, I feel that Binance or other top VCs have the ability and responsibility to try to empower protocols.

In fact, Binance and MKR are typical representatives of buybacks in the cryptocurrency market. The demonstration effect brought about by Binance's large-scale buybacks over the years should be widely promoted. After 2018, BNB's PE ratio has mostly remained between 5-10 times, driven by profits/buybacks to boost coin price growth. The proportion of price increases driven by emotions/funds is relatively small. If it weren't for regulatory factors, under the network effect, there would be no concerns about Binance. Although many people are dissatisfied with MKR's price, DeFi is actually paying off debts in 2021. From a personal perspective, it is already very impressive. You only see UNI generating $800 million in revenue in a year, but from our perspective, its revenue is far less than in 2021, meaning negative growth since 2021. However, you can clearly see that MKR's revenue has hit a new high since 2021. Let's not estimate future growth rates for now; let's analyze the present. I have always believed that predicting the future is based on clarifying the present. If you can't see the present clearly, how can you accurately predict the future? $BTC,$ETH - Travis_Kling NFA. I'm wrong often. The current "bearish" backdrop seems easier to look through and buy than most of the boogeymen we've had in these markets over the last 6 years. - Germany is speedrunning their #Bitcoin dump. They're at 22k BTC currently, down from 50k a couple weeks ago. At this pace they'll be done in a week or two. By the time they get down to ~5k, market will look through it. - Gox seems more FUD than actual mass selling (just a guess but feels that way). The claims buyers are sophisticated and patient. They strike me as the type to TWAP out into a raging bull, not hammer a tepid bid in the middle of summer. For the small creditors, you've hung on for decade when you could have sold ages ago. You're just going to aggressively dump now, three months after the halving? - US govt selling is hardest to get your head around in terms of pace/method, and their stack is huge. But they've been pretty measured with selling so far, so I assume they'll continue to be pretty measured. - You have boomers slurping the dipperino in the BTC ETFs Fri and Mon. The trillions of dollars on the sideline potentially interested in buying BTC were waiting for a pullback. They got a bit of one (26% on BTC peak to trough), and so far they've bought it. - ETH ETFs around the corner and ETH price is a couple % below where it was before the ETF rumors hit. So you could argue there's essentially zero ETF hype in price at these levels. - The Fed getting ready to cut. Market is currently pricing in a 70% chance of a cut in Sept. If inflation/labor data is light this month, Powell will likely tell the market that Sept is a live meeting at the 7/31 FOMC. Nickileaks has already teased this. What else would you rather own than crypto going into a worlwide easing cycle? - There's quite a good chance Trump is about to be president. What else would you rather own than crypto going into a Trump presidency? - NASDAQ keeps making new ATH after new ATH. crypto has completely decoupled to the downside. You could argue BTC is lagging QQQ by 40% YTD. IDK, seems pretty easy to imagine BTC back up to at least the range highs before the election. Would love to hear the pushback on this.