Welcome, Crypto enthusiasts!

Market sentiment is signaling a potential bottom for Bitcoin while BTC miners rate of sell offs has declined drastically.

In Today’s Blockstreet Journal:

• Bitcoin Bottom In Plain Sight

• Miner Sell Offs Slow

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🤔 Bitcoin Bottom In Plain Sight 

Word On The Street: The bearish market has reduced the high levels of bullish sentiment surrounding Bitcoin, suggesting a potential market bottom.

The details:

• Santiment data indicates that trader sentiment was most bullish at the beginning of April, leading up to the Bitcoin halving.

• Over the past three months, optimism has gradually diminished as traders have lost confidence due to Bitcoin's failure to reach new all-time highs.

• While bearish sentiment has also declined over the same period, it has not decreased as drastically as bullish sentiment.

Why it matters: According to Santiment, the decline in trader euphoria around Bitcoin is a potential bottom signal.

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MARKET NEWS
⛏️ Miner Sell Offs Slow 

Word On The Street: Data shows that Bitcoin miner withdrawals have decreased by nearly 90% since the block subsidy halving.

The details:

• In a Quicktake post on June 28, onchain analytics platform CryptoQuant suggested that miner sell pressure is “weakening.”

• Miners have spent several months adjusting to a new economic reality after April’s halving.

• This adjustment has been reflected in the network fundamentals, with both hash rate and mining difficulty dropping from all-time highs.

Why it matters: The hashrate reflects a state of “capitulation” among miners, according to the popular Hash Ribbons metric

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.26T, a 1.37% decrease over the last day.

The total crypto market volume over the last 24 hours is $59.06B, which makes a 6.39% decrease. The total volume in DeFi is currently $4.34B, 7.36% of the total crypto market 24-hour volume. The volume of all stable coins is now $55.43B, which is 93.85% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.00%, a decrease of 0.13% over the day.

Global Market Metrics

As of today, the current state of the cryptocurrency market is as follows:

- Total Market Capitalization: $2.26T

- Total 24h Trading Volume: $59.06B

- Active Cryptocurrencies: 10,134

- Active Market Pairs: 84,293

- Active Exchanges: 785

Dominance:

- Bitcoin (BTC): 53.00%

- Ethereum (ETH): 18.09%

Market Segments:

- DeFi Market Capitalization: $75.22B

- DeFi 24h Volume: $4.34B

- Stablecoin Market Capitalization: $154.84B

- Stablecoin 24h Volume: $55.43B

- Derivatives 24h Volume: $563.07B

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Mitosis Airdrop Campaign

Mitosis has raised $7M in funding from investors like Amber Group and Foresight Ventures and has launched an airdrop campaign. Users who deposit eETH or weETH into Mitosis will start earning MITO points, which will be converted to MITO tokens after the token goes live. Also earn more MITO points for referring your friends.

Step-by-Step Guide:

1. Visit the Mitosis Expedition campaign page.

2. Connect your wallet.

3. Now click on “Join Now”.

4. Go to your dashboard, connect your Twitter account and enter “W4EWD1” in the referral code field to get a 1.15x boost.

5. You will now need eETH or weETH.

6. You can get eETH by staking ETH on ether.fi and get weETH by wrapping ETH on ether.fi.

7. Go back to Mitosis, select a chain and deposit eETH or weETH.

8. You will start earning MITO points for depositing LSTs such as eETH and weETH.

9. Also, collect badges from the dashboard to get more points.

10. You can also earn more points for referring your friends.

11. You will also earn EigenLayer Points as well as 2X ether.fi points for depositing into Mitosis, making you eligible for future Eigenlayer ether.fi airdrops.

12. MITO points will be converted to MITO tokens after the token goes live.

Other News

Kraken’s Jesse Powell donates $1M in crypto to Trump campaign. Jesse Powell, the Kraken co-founder, backs Trump with $1 million in Ether, supporting pro-crypto policies against regulatory crackdowns.

VanEck Files for Solana ETF, SOL Rises 8%. The filing is the first Solana ETF to be filed in the U.S. and follows six days after a similar product filing in Canada.

Curve Finance adopts crvUSD for fee distribution. Curve Finance shifts from 3crv to crvUSD for fee distribution, enhancing the stablecoin’s utility and ecosystem integration.

State Street, Galaxy Digital to Develop Active Crypto Trading Products. Galaxy Digital inked a similar deal with DWS last year for the European market.

🫡 Thanks For Reading

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