Crypto News: BTC Dips Below $57K,Altcoins Show Mixed Signals
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In the past month, Germany sold 82% of their Bitcoin reserves, nearly 41,000 BTC.
Bitcoin's fear and greed index hit "extreme fear" for the first time since January 2023, as BTC struggles with a key price level.
Major Events To Watch
Crypto Fear and Greed Index:
Crypto Fear and Greed Index shows current sentiment as "Extreme Fear" at 25, down from "Fear" levels of 29 yesterday and 26 last week.
Cryptocurrency experienced a decline over the past day
TOP 5 Losers Coins
| Indices | LTP | Change (%) |
|---|---|---|
| Bonk | $0.00002289 | 10.27% |
| Render | $5.86 | 8.13% |
| Brett | $0.1097 | 7.55% |
| Akash Network | $3.27 | 6.51% |
| Ethena | 0.3886 | 6.20% |
Latest Market Update:
#Bitcoin ($BTC), the world's oldest and most valuable cryptocurrency, fell below $57,000 early Friday.
Popular altcoins, including #Ethereum ($ETH), #Dogecoin ($DOGE), #Ripple ($XRP), #Solana ($SOL), and #Litecoin ($LTC), saw declines.
#MANTRA ($OM) token was the biggest gainer, with a 24-hour increase of over 7%.
Memecoin #BONK was the biggest loser, with a 24-hour drop of over 11%.
Total crypto market volume over the last 24 hours is $67.66B, a 13.38% increase.
Total volume in DeFi is $4.16B, which is 6.15% of the total 24-hour crypto market volume.
Volume of all stable coins is $62.96B, accounting for 93.06% of the total 24-hour crypto market volume.
Bitcoin’s dominance is currently 53.35%, a decrease of 0.18% over the day.
Major Worldwide News Update:
The German government sold an additional $376 million worth of Bitcoin, reducing its holdings to under 10,000 BTC. Over the past month, it liquidated 82% of its Bitcoin holdings, selling nearly 41,000 BTC. Despite this, Bitcoin's price has remained steady around $57,000, with strong spot Bitcoin ETF inflows countering the selling pressure.
The SEC now allows banks and brokerages to exclude customers' crypto holdings from balance sheets, provided they mitigate associated risks. This change follows debates over crypto-accounting rules in Congress. Banks must implement safeguards, and the new guidance could benefit other crypto firms offering similar services.
Tether announced it will stop redeeming USDT and EURT on Algorand, EOS, Omni, and Kusama by September 1, 2025, and will freeze remaining tokens. Users are advised to redeem holdings or migrate to supported blockchains. This move prioritizes blockchain development preferences, with USDT recently launching on the Ton blockchain.
U.S. lawmakers questioned SEC Commissioner Caroline Crenshaw on her crypto views as she seeks another term. In a Senate Banking Committee meeting, she emphasized market risk and public interest. Sen. Bill Hagerty expressed concerns over her stance on spot Bitcoin ETFs and criticized the SEC's regulatory uncertainty and overreach.
After falling to $2850, Ethereum is recovering, trading at $3179. Despite a market crash and disappointing ETH ETF approval, staked ETH supply surged to 27.18%, nearing an all-time high. Increased staking indicates rising investor interest. Notably, Justin Sun bought 1614 ETH, investing $5 million in USDT at $3097, anticipating future gains.
The US CPI fell below expectations, boosting confidence that inflation is on track to reach the Fed's 2% target. September rate cut chances are rising, with expectations of three cuts this year. Headline CPI dropped 0.1% MoM, and core CPI rose 0.1% versus the 0.2% forecast.
For the week ending July 6, seasonally adjusted initial unemployment claims were 222,000, down 17,000 from the previous week's revised 239,000. The 4-week moving average decreased by 5,250 to 233,500, from the previous week's revised 238,750.
COIN GABBAR Views: Bitcoin Faces Another Decline: Are Bears Ready for a Further Drop? Investors Anticipate Fed Interest Rate Cuts as Bitcoin Price Struggles Bitcoin Price Rejected Again: Will Bulls Falter Once More? To get latest news Stay tuned us at coingabbar
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