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- Bitcoin Beats Tech Stocks
Bitcoin Beats Tech Stocks
PLUS: Bitcoin Will Retest $72K
Blockstreet Journal
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Welcome, Crypto enthusiasts!
Bitcoin has outpaced the Magnificent Seven Tech Stocks showing strength among institutional investors.
In Today’s Blockstreet Journal:
Bitcoin Beats Tech Stocks
Bitcoin Will Retest $72K
Market Rundown
Top Gainers & Losers
Airdrops & More News
Latest News
MARKET NEWS
👀 Bitcoin Beats Tech Stocks
Word On The Street: Inflows into BlackRock’s Bitcoin ETF have outpaced those into the major tech stocks known as the "magnificent seven"
The details:
BlackRock’s iShares Bitcoin Trust ETF has amassed nearly $19 billion in Bitcoin (BTC) year-to-date (YTD).
According to Jeroen Blokland, founder of Blockland Smart Asset Fund, these substantial inflows have surpassed the "magnificent seven".
With U.S. Bitcoin ETFs holding over $61 billion worth of on-chain Bitcoin, these ETFs control more than 4.6% of the total BTC supply.
Why it matters: Bitcoin's future price movements will largely depend on continued ETF inflows. Achieving the $88,000 target will require overcoming the $72,000 mark, which is just below Bitcoin's current all-time high.
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BITCOIN
📈 Bitcoin Will Retest $72K
Word On The Street: Bitcoin experienced a brief rebound on July 24, with analysts describing the situation as a "tug-of-war" on exchanges.
The details:
Despite expectations of a potential downturn, key support levels at $65,000 and the short-term holder realized price at $65,110 held firm.
Bitcoin has been consolidating at its previous cycle's high for 141 days, the longest such period on record.
There is a "tug-of-war" between bullish and bearish market factors, with bullish elements appearing to have the upper hand.
Why it matters: Bitcoin needs to break through $73,000 to trigger a short squeeze to $77,000, after which there would be little resistance to further price discovery.
Market Rundown
Fear & Greed Index
The global crypto market cap is $2.42T, a 0.44% decrease over the last day.
The total crypto market volume over the last 24 hours is $72.41B, which makes a 17.19% decrease. The total volume in DeFi is currently $4.24B, 5.85% of the total crypto market 24-hour volume. The volume of all stable coins is now $66.63B, which is 92.01% of the total crypto market 24-hour volume.
Bitcoin’s dominance is currently 54.36%, a decrease of 0.06% over the day.
Global Market Metrics
Current State of the Cryptocurrency Market:
- Total Market Capitalization: $2.42T
- 24-hour Trading Volume: $72.36B
- Active Cryptocurrencies: 10,040
- Active Market Pairs: 82,344
- Active Exchanges: 794
- Bitcoin Dominance: 54.36%
- Ethereum Dominance: 17.07%
- DeFi Market Capitalization: $74.76B
- DeFi Trading Volume: $4.24B
- Stablecoin Market Capitalization: $157.98B
- Stablecoin Trading Volume: $66.63B
- Derivatives Trading Volume: $635.4B
Top Gainers & Losers
🚀 Top Gainers
💩 Top Losers
Airdrops & More News
DAILY AIRDROP
📦️ PreRich Airdrop
Prerich has confirmed to launch their token “RICH” and do an airdrop to users who collect points. Sign up at Prerich, create a wallet and start making trades to earn points. Also, get more points from each referral. The points will be converted to RICH tokens after TGE.
Step-by-Step Guide:
Visit the Prerich website.
Click on “Login”.
Now, submit your email.
Verify your email and log in.
Then click on “Create Wallet”.
A Solana wallet will be created instantly.
Deposit some SOL to your Prerich Solana wallet.
Now go to “Home”, select a coin and make trades.
You will start earning points for making trades on the platform.
A total of 250,000 points will be distributed daily.
Points are distributed based on the volume of trades each user makes relative to the total daily volume.
Also, get more points from each referral.
The campaign will run for six months.
Users who collect points will be able to convert them to RICH tokens after the TGE.
For more information regarding the airdrop, see this page.
Other News
XRP and NEAR Help Push Index Upward. XRP and NEAR lead today's CoinDesk 20 gains with 5.6% and 3.3% increases, respectively.
Solana is transforming cross-border agricultural trade. AgriDex’s blockchain-based platform enabled a South African farm to complete a trade with a London importer, showcasing the benefits of onchain settlements.
Riot Platforms’ Acquisition of Block Mining Makes Sense. Riot will have the second-largest capacity among U.S. listed bitcoin miners following the purchase, and the deal serves as the latest evaluation of underdeveloped power assets, the report said.
Ferrari to launch crypto payments in Europe after US success. Ferrari debuted cryptocurrency payments for its cars in the United States in 2023, partnering with major local payments provider BitPay.
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