The Bitcoin Short-Term Holder Cost Basis has started to roll over and decrease now that price is trading below it.
Currently at $63.9K, my eyes are looking for a retest at this level in the short term.
Rejection = short-term bearish
Break through = short-term bullish
📊 On July 7, #Bitcoin transaction fees hit their lowest level: $38.69, a level last seen during the COVID-19 peak in 2020.
Miners processed 673,752 transactions, of which $BTC accounted for 89.7%.
Midweek and we bring you what you need to know this Wednesday in the Bitcoin industry.
🔵 Germany continues selling, but the market seems to have stopped caring. The price of Bitcoin dawned above USD 58,000 today, even touching USD 59,000 at times. This is despite the fact that Germany has already sent at least 6,000 BTC ($350M) to exchanges today alone.
🔵 Bitcoin (BTC) could be entering the end of the price correction phase to enter a bullish rally, which would arrive by the third quarter of 2024. This is suggested by the analyst known as Crypto Dan, based on the Puell multiple , a metric used to detect good moments of buying or selling the digital currency.
🔵 Fee war for Ethereum ETFs has begun. The launch of these financial products in the US would be imminent and the issuing companies are already looking to offer the lowest management fees to attract investors. According to the data available so far, Franklin Tmpleton will have the cheapest ETF, with fees of 0.19% per year.
🔵 Ethereum is once again an inflationary asset. After several months as a deflationary cryptocurrency, the issuance of ether (ETH) has been outpacing burning for a month due to the drop in network activity.
At this time, high priority fees in Bitcoin reach 8 sats/vB (around USD 0.64), while in Ethereum the highest priority fee is 15 gwei (USD 0.91).
Puell multiple anticipates bullish movement for bitcoin, if history repeats itself
"It is an opportunity that occurs only once within the bullish cycle," explains the analyst.
German government plans sale of 6,000 BTC valued at USD 354 million
The German government is stepping up its Bitcoin sale, preparing to part with another $342 million in BTC
🚨MASSIVE BREAKING🚨
EXCLUSIVE FOOTAGE REVEALS PANIC WITHIN GERMAN GOVERNMENT OVER BITCOIN SALES
😂
https://video.nostr.build/6421e003e2c8855d16f5762ce3c9cc2bfdc3ccbd8e451d6870b136298c401ccb.mp4
The face of a dog with its mouth open #inkblotart
BTC Spot ETFs See Inflows of $654 Million
Investors have bought more than $650 million in bitcoin ETFs since July 5, but it hasn't been enough to offset the surge in BTC selling in Germany.
This cycle analysis photo is quite good and reasonable
🚨 BlackRock buys 2134 BTC ($121m)!
IBIT holders thank Germany for the discount 😂
🚨 Fidelity buys 1580 #Bitcoin
Cheap Bitcoin Gets Bought QUICK 🚀🚀
#Bitcoin miner capitulation is still ongoing.
Historically, it ends when the daily average mined value is 40% of the yearly average; it's now at 72%.
Expect the crypto markets to be boring for the next 2-3 months. Stay long-term bullish but avoid excessive risk.
🟠 Looks like it's all going to zero against Bitcoin! 📉
2 monsters to attack each other #inkblotart
🚨$411.72M LIQUIDATED IN THE LAST 24 HOURS!
Liquidations were split almost equally between long positions ($205 million) and short positions ($207 million).
$BTC faced $182 million in liquidations, while $ETH saw $89 million.
🇩🇪 The German government has been selling bitcoin for 7 consecutive days.
Thus, it reinforces this sales strategy that began three weeks ago, despite the criticism it has received.
He has already sold more than 11,000 BTC, putting downward pressure on the price of bitcoin.