Bitcoin
Bitcoin Surpasses $63K as Solana (SOL) Rises Towards $150: Market Watch
The start of the new week saw the total cryptocurrency market attempt a recovery, with its capitalization pushing towards the all-important $2.5 trillion market, up 2.6% on the day.
Bitcoin price is now around $63K, and most altcoins are also recording gains. Important events are happening this week that are worth watching, so let’s dive in.
Bitcoin price rises to US$63 thousand
At the time of writing, the price of Bitcoin is trading around $62,800, having reached a daily high of around $63,700. This represents a 2.6% increase in the last 24 hours for the primary cryptocurrency.
It is interesting to see if BTC will be able to hold on to these gains and build on them or if the bears will be able to push the price back towards $60K.
In any case, as we reported Earlier today, some analysts are certain that July will be a good month for Bitcoin. They argue that it has historically been a month of gains, especially after a red June (as it was this year).
However, as mentioned earlier, there are some important economic events that will occur in the US this week that could have an impact on price action. These are:
- ISM manufacturing PMI data for June – on Monday.
- Fed Chairman Powell will speak – on Tuesday.
- JOLTs employment data – on Tuesday.
- Fed meeting minutes – Wednesday.
- The stock market will be closed – on Thursday.
- June jobs report data – out Friday.
Solana Leads Altcoin Recovery
Many of the large-cap altcoins are also trading nicely in the green, with SOL being a notable example. The cryptocurrency is up 4.6% and is now approaching $150.
LINK increased by 5.31%, AVAX – by almost 6%, NEAR – by 5% and so on.
Interestingly, some categories perform much better compared to others. For example, meme coins on Solana and Base averaged gains of between 13% and 9%, respectively.
This is considerably higher compared to the overall meme coin category (across all chains and all themes), which is up around 3%.
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Cryptocurrency Charts by TradingView.
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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