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Bitcoin is down to one-month lows, and BTC price predictions are tending to assume worse is to come — how much lower can bears manage?
PLUS: BTC's positive vibes may be waning as outflows from BTC investment products rose for the first time in weeks. But mining is in a better state than it was a year ago.
The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
- 07:34Swell has been launched on the re-pledge chain SwellchainAccording to official news, Swell has announced that its re-pledge chain, Swellchain, is now online. Its goal is to build a scalable and decentralized rollup and protect the infrastructure through re-pledging. In addition, 31,250,000 SWELL will be distributed to everyone who bridged and held assets on Swellchain in the first two weeks. Users need to complete the bridge before 12:00 (UTC) on December 31st in order to get their share.
- 07:31DMG Blockchain releases annual performance report: 502.5 BTC mined in 2024, a decrease of 43% from the previous yearOn December 19, the listed Bitcoin mining company DMG Blockchain Solutions Inc. released its full-year financial performance report for 2024. It disclosed that the mining output in the fourth quarter of 2024 was 65 Bitcoins, and the annual mining output was 502.5 BTC, a decrease of 43% from the previous year. The holdings of cash and digital currency reached 36 million Canadian dollars, with total assets at year-end amounting to 104 million Canadian dollars.
- 07:26The meme coin craze drives Solana DApp's income to set a monthly record of $365 millionAccording to research by Syndica, Solana's native DApp earned $365 million in revenue in November 2024, setting a new monthly record. The Solana DeFi ecosystem is the main source of income, accounting for nearly 84%, while wallets and infrastructure account for less than 15%. In DeFi activities, Meme coins and protocols supporting Meme coins dominated SOL's income. Monthly income from Meme coin DApps increased by 305 times in 2024, exceeding $500 million. Last month pump.fun led the way among Solana protocols with an income of $106 million. In addition, Telegram bot categories have become the second largest source of revenue after Meme coin DApps this year, setting a record of over $300 million in revenue. The report also stated that the number of "high-quality participants" in the SOL ecosystem has grown parabolically and there has been an increase in protocols earning more than $10,000 to $10 million per month.
