Bitcoin bought as Ferrari Luxury Car Manufacturer decided crypto payments across Europe07/25/2024 09:40:00 GMT
Bitcoin adoption grows as Ferrari's luxury car maker accepts crypto payments across Europe
07/25/2024 09:40:00 GMT
Bitcoin Magazine CEO David Bailey has confirmed that Kamala Harris will not be speaking at future Bitcoin conferences.
Bitcoin adoption has grown as Ferrari's luxury car maker accepts crypto payments across Europe.
The continued movement of the Mount Gox Fund could adversely affect the price of Bitcoin.
On-chain data indicates positive exchange inflows and suggests sales pressure.
Bitcoin (BTC) extended its recent corrective move and fell to close to $64,000 on Thursday. CEO David Bailey has confirmed that Kamala Harris will not speak at future Bitcoin conferences, and Ferrari luxury car makers have announced acceptance of crypto payments across Europe. Meanwhile, the bankrupt Mount Gox Exchange continues to move funds to pay creditors. On-chain data reveals positive exchange inflows and indicates continued sales pressure in the market.
Daily Digest Market Movers: Bitcoin Dwindles as Mount Gox Continues to Pay Creditors
According to Arkham Intelligence data, Mt. Gox moved a total of 2.4 billion70 million dollars of BTC to a new wallet on Wednesday and distributed 0.3 billion35.8 million worth of 5,106 BTC to 4 separate Bitstamp addresses. This transfer of funds may cause FUD (fear, uncertainty, doubt) among traders and contribute to a fall in the price of Bitcoin.
Mt. Gox still holds 80,128 BTC worth 5.3 billion 20 million dollars. Bitstamp is Mt. Gox Trustee is Mt. It is one of five exchanges working together to return funds to Gox creditors. So far, Mt. Gox sent 10,216 BTC worth 0.6 billion75.9 million dollars to Bitstamp.
Luxury car manufacturer Ferrari will accept Bitcoin and cryptocurrency payments in Europe. The announcement was made in Wednesday's press release. The decision may appeal to tech-savvy crypto investing individuals who prefer to utilize digital assets for premium purchases. It's also an important step towards widespread acceptance of cryptocurrencies in the luxury sector, and could inspire other big name brands to adopt similar strategies.
David Bailey, CEO of Bitcoin Magazine, confirmed in a Twitter post that Kamala Harris will not be speaking at future Bitcoin conferences to be held from 7/25 to 7/27.
He said, “It's not surprising. What can she tell us when she's actively imprisoning developers, forcing our industry overseas, and attacking PoW... it would have been a disaster for her. Right now, all eyes are on Trump.
Also, “the choice is really easy, Trump Pump or Biden Dump?” I tweeted.
Donald Trump's support for crypto and his upcoming speech at the Bitcoin conference could further strengthen his appeal among voters who are actively involved in cryptocurrency investments.
According to CryptoQuant, Bitcoin Exchange Netflow (Total) is Mt. As a platform that carries out initial refunds to Gox creditors, it shows the difference between BTC entering and leaving the Kraken exchange.
The positive net flow suggests that more bitcoins are being moved to exchanges (potentially for sale or trade). In contrast, negative net flows indicate that more bitcoins are being withdrawn from exchanges (potentially to hold or transfer personal wallets).
For BTC, net flow was positive at 47,569 BTC on Thursday, and Mt. It shows that Gox creditors are selling refunds, contributing to the decline in the price of Bitcoin. If this trend of withdrawals continues, sales pressure will increase significantly, and Bitcoin's price is likely to fall further.
Bitcoin Exchange Net Flow (Total) Kraken Charts
Technical analysis: BTC continues to fall below $65,000
Bitcoin's price faced resistance around the weekly resistance level of $67,209 earlier this week. At the time of writing, BTC extended its correction for 4 consecutive days, falling 1.87% daily at around $64,139 on Thursday.
As BTC continues to retrace, support can be found at $62,736 at the 50% Fibonacci retracement level (from a high of $71,997 on June 7 to a low of $53,475 on July 5). This level coincides with an uptrend line drawn by combining multiple swing rows from July 5 to mid-July. This establishes an important support zone that should be closely monitored.
If this support area holds at $62,736, BTC could rise 7% and retest the weekly resistance at $67,209.
On the daily chart, the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators are trading above neutral levels 50 and zero, respectively. This steady momentum shows strong bullish sentiment in the market.
In the case of a positive bullish outlook, if BTC closes above the $67,209 level, it could further extend its 7% rise and retest the 6/7 high of $71,997.
BTC/USDT Daily Chart
However, if it falls below $62,736 and falls below the uptrend line, the market structure will change from bullish to bearish by forming lower lows on the daily time frame. Such a scenario could trigger a 10% crash in Bitcoin's price to retest the July 12 low of $56,405.
07/25/2024 09:40:00 GMT
Bitcoin Magazine CEO David Bailey has confirmed that Kamala Harris will not be speaking at future Bitcoin conferences.
Bitcoin adoption has grown as Ferrari's luxury car maker accepts crypto payments across Europe.
The continued movement of the Mount Gox Fund could adversely affect the price of Bitcoin.
On-chain data indicates positive exchange inflows and suggests sales pressure.
Bitcoin (BTC) extended its recent corrective move and fell to close to $64,000 on Thursday. CEO David Bailey has confirmed that Kamala Harris will not speak at future Bitcoin conferences, and Ferrari luxury car makers have announced acceptance of crypto payments across Europe. Meanwhile, the bankrupt Mount Gox Exchange continues to move funds to pay creditors. On-chain data reveals positive exchange inflows and indicates continued sales pressure in the market.
Daily Digest Market Movers: Bitcoin Dwindles as Mount Gox Continues to Pay Creditors
According to Arkham Intelligence data, Mt. Gox moved a total of 2.4 billion70 million dollars of BTC to a new wallet on Wednesday and distributed 0.3 billion35.8 million worth of 5,106 BTC to 4 separate Bitstamp addresses. This transfer of funds may cause FUD (fear, uncertainty, doubt) among traders and contribute to a fall in the price of Bitcoin.
Mt. Gox still holds 80,128 BTC worth 5.3 billion 20 million dollars. Bitstamp is Mt. Gox Trustee is Mt. It is one of five exchanges working together to return funds to Gox creditors. So far, Mt. Gox sent 10,216 BTC worth 0.6 billion75.9 million dollars to Bitstamp.
Luxury car manufacturer Ferrari will accept Bitcoin and cryptocurrency payments in Europe. The announcement was made in Wednesday's press release. The decision may appeal to tech-savvy crypto investing individuals who prefer to utilize digital assets for premium purchases. It's also an important step towards widespread acceptance of cryptocurrencies in the luxury sector, and could inspire other big name brands to adopt similar strategies.
David Bailey, CEO of Bitcoin Magazine, confirmed in a Twitter post that Kamala Harris will not be speaking at future Bitcoin conferences to be held from 7/25 to 7/27.
He said, “It's not surprising. What can she tell us when she's actively imprisoning developers, forcing our industry overseas, and attacking PoW... it would have been a disaster for her. Right now, all eyes are on Trump.
Also, “the choice is really easy, Trump Pump or Biden Dump?” I tweeted.
Donald Trump's support for crypto and his upcoming speech at the Bitcoin conference could further strengthen his appeal among voters who are actively involved in cryptocurrency investments.
According to CryptoQuant, Bitcoin Exchange Netflow (Total) is Mt. As a platform that carries out initial refunds to Gox creditors, it shows the difference between BTC entering and leaving the Kraken exchange.
The positive net flow suggests that more bitcoins are being moved to exchanges (potentially for sale or trade). In contrast, negative net flows indicate that more bitcoins are being withdrawn from exchanges (potentially to hold or transfer personal wallets).
For BTC, net flow was positive at 47,569 BTC on Thursday, and Mt. It shows that Gox creditors are selling refunds, contributing to the decline in the price of Bitcoin. If this trend of withdrawals continues, sales pressure will increase significantly, and Bitcoin's price is likely to fall further.
Bitcoin Exchange Net Flow (Total) Kraken Charts
Technical analysis: BTC continues to fall below $65,000
Bitcoin's price faced resistance around the weekly resistance level of $67,209 earlier this week. At the time of writing, BTC extended its correction for 4 consecutive days, falling 1.87% daily at around $64,139 on Thursday.
As BTC continues to retrace, support can be found at $62,736 at the 50% Fibonacci retracement level (from a high of $71,997 on June 7 to a low of $53,475 on July 5). This level coincides with an uptrend line drawn by combining multiple swing rows from July 5 to mid-July. This establishes an important support zone that should be closely monitored.
If this support area holds at $62,736, BTC could rise 7% and retest the weekly resistance at $67,209.
On the daily chart, the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators are trading above neutral levels 50 and zero, respectively. This steady momentum shows strong bullish sentiment in the market.
In the case of a positive bullish outlook, if BTC closes above the $67,209 level, it could further extend its 7% rise and retest the 6/7 high of $71,997.
BTC/USDT Daily Chart
However, if it falls below $62,736 and falls below the uptrend line, the market structure will change from bullish to bearish by forming lower lows on the daily time frame. Such a scenario could trigger a 10% crash in Bitcoin's price to retest the July 12 low of $56,405.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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