GoМining

We’re back with the latest edition of GoMarket Weekly, brought to you by our expert crypto analyst <a href="https://ge.linkedin.com/in/mike-ermolaev-873034257" rel="noopener noreferrer nofollow">Mike Ermolaev</a>! Dive into Bitcoin&#39;s recent valuation drop, Ethereum whale activity amidst ETF anticipation, and crucial regulatory developments. Here&#39;s what you need to know: &#x1f4c8; Bitcoin Rebounds After Powell’s Comments Bitcoin gained 1.3% after Jerome Powell’s remarks, peaking at $59,359 before stabilizing at current levels. &#x1f50d; BTC Correction and Market Resilience BTC plunged below its 200 DMA, causing significant unrealized losses. Despite this, long-term holders remain resilient, with only 36% of capital flows attributed to loss-taking events. &#x1f4ca; Strong Investor Confidence in Bitcoin ETFs From July 5th to 11th, Bitcoin ETFs saw inflows of $997.3 million, with the highest on July 8th ($294.8M). Total outflows were $116.7 million, showing strong investor interest in Bitcoin as an asset class. &#x1f4c8; Germany&#39;s BTC Sales Are a Standard Practice for Seized Assets Germany recently sold 2,700 BTC, with 6,644 BTC remaining from the 50,000 BTC seized from Movie2K. The sales included transfers of 500 BTC to an OTC address and 400 BTC each to Coinbase, Kraken, and Bitstamp. This strategy has faced criticism from some, but it is explained as a standard practice for managing seized property. &#x1f40b; Ethereum Whale Activity and Staking Confidence Amid ETF Optimism A whale transferred 50,000 ETH, signaling optimism. Staked ETH reached 33.3M, with an 88% chance of ETF approval by July 26. ⚖️ BTC and ETH Gain Commodity Status BTC and ETH were officially classified as digital commodities, reinforcing their regulatory status. &#x1f4b8; USDC Demand Surges Post-MiCA Compliance USDC&#39;s weekly trading volume rose to $23B in 2024 from $9B in 2023, with a market share now exceeding 90%. &#x1f3a4;Donald Trump to Address Bitcoin 2024 Conference Donald Trump will speak at the Bitcoin 2024 conference, potentially influencing public perception of Bitcoin. &#x1f4c8;Public Miners Accumulate BTC Public miners increased their BTC holdings in June, contrary to the belief they were selling off. &#x1f30d; Bitcoin Mining Could Aid UK’s Renewable Energy Goals Bitcoin mining can utilize the UK&#39;s projected 72 TWh energy oversupply by 2030, generating around £2B in annual revenue from green energy. &#x1f449; The<a href="https://gmt.io/media_room/blog/gomarket_weekly_18/" rel="noopener noreferrer nofollow"> full version awaits here</a> – catch all the details now and mark your calendar for next week when we&#39;ll serve up another helping of expert insights! &#x1f680;&#x1f4ca;

🚀 GoMarket Weekly #18

GoMining

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