CloudAICrypto
Posts
Bitcoin Price Will Go Up When This Happens

Bitcoin Price Will Go Up When This Happens

ETF Inflows Signal Strong Confidence in Bitcoin

ETF Inflows Signal Strong Confidence in Bitcoin
Bitcoin Price Will Go Up When This Happens
A Change Of Heart in Germany?
And more…

Market Data Prices as of 5:50am ET

	Price (USD)	Change (24h)	Change (YTD)
Bitcoin (BTC)	$57,467	+0.54%	+36.66%
Ethereum (ETH)	$3,085	+1.02%	+34.88%

This Update is Brought to You from ByBit!

We are excited to introduce the Bybit Card to you!

⭐ Get 10 EUR card bonus upon sign⭐ Refer a friend and grab up to 30 USDT ⭐ Get 2% Auto-Cashback in USDT

bitcoin price will go up when this happens

There is no annual or monthly fees, you get instant virtual card, up to 8% APY and it's compatible with Google Pay!

Apply Now

Order a Bybit Card in just 5 minutes!

1️⃣ Sign up for a Bybit Account here

2️⃣ Complete your application

3️⃣ Receive your virtual card immediately

You get to earn rewards point as you spend too!

Rewards Point can be converted to USDT or redeemed exclusive merchandise

ETF INFLOWS SIGNAL STRONG CONFIDENCE IN BITCOIN

BREAKING: Spot Bitcoin ETFs See Largest Inflows in Over a Month, Post-July 4 Dip

Amid the panic selling by short-term holders, ETFs showed robust confidence.

On July 5th, the net inflow reached $143.1 million, marking the largest in over a month.

This was despite $28.6 million in outflows from Grayscale.

Here’s the breakdown:

Fidelity FBTC: $117.4 million 🥇
Bitwise BITB: $30.2 million 🥈
VanEck HODL: $12.8 million 🥉

This time frame was always anticipated to be a test for the ETFs…

bitcoin price ill go up when this happenss

Source: Farside Investors

Many believed that Bitcoin’s first major correction this cycle would result in considerable selling from the ETFs.

But that wasn’t the case.

Instead, the opposite occurred.

ETF investors treated this sudden dip as an excellent buying opportunity.

It seems that institutional investors and large-scale buyers are not worried about Bitcoin’s short-term price actions…

They’re committed for the long run.

The best crypto app to secure your tokens: Ledger

A crypto wallet is a physical device, designed to enhance the security of your private keys by securely storing them offline.

These wallets physically store your private keys within a chip inside the device itself.

The beauty of using a crypto wallet is the security it provides to your private keys.

Get Started Now>>

BITCOIN PRICE WILL GO UP
WHEN THIS HAPPENS

With miners spread across the globe, these operations are substantial businesses with significant costs for equipment, staffing, and electricity.

When halving occurs, miners' income is halved.

Most miners manage as the Bitcoin price typically increases enough to balance the reduced income.

Yet, some miners struggle.

The least efficient miners suddenly become unprofitable.

To cover their costs, they start selling their mined Bitcoin and any Bitcoin held in reserve.

This influx of Bitcoin onto the open market results in downward price pressure. 🌊

This process, known as miner capitulation, often leads to turbulent or declining prices post-halving.

Struggling miners sell off Bitcoin to stay afloat, hoping prices will eventually rise enough to restore profitability.

Currently, we are experiencing the longest period of miner capitulation ever recorded.

Evidence for this includes the falling Bitcoin hash rate, indicating miners are shutting down operations.

Willy Woo recently tweeted that we haven't hit the bottom yet:

Once this chart shows a turnaround, we'll know miner capitulation is ending, and Bitcoin's price will begin to rise again.

The good news?

As of now, the Bitcoin hash rate has bounced back significantly, suggesting a possible turnaround.

Is the worst behind us?

It's still too soon to say for sure.

We will monitor the situation closely and keep you updated. 👀

Rest assured, the least efficient miners can only hold out for so long. 🪦

Stay Ahead of the Trend in Digital Assets with Glassnode

Join Glassnode and Access a suite of metrics which describe the foundational components and performance of the Bitcoin blockchain. Metrics cover supply, on-chain activity, transfer volumes, mining performance, and transaction fees.

Create an Account Now>>

A CHANGE OF HEART IN GERMANY?

A positive turn came as a German government entity received over $200 million worth of Bitcoin back from several exchanges late in the U.S. trading day, which helped lift market sentiment.

By the European morning, Bitcoin was trading near $57,400, up 1% from the previous day.

The earlier fall to $55,000 was sparked by the German Federal Criminal Police Office (BKA) transferring over $900 million worth of Bitcoin to various addresses, causing alarm among traders.

However, Arkham data indicated that in the last 12 hours, exchanges such as Kraken, Coinbase, and Bitstamp returned the Bitcoin, suggesting that these assets did not flood the market.

Source: Arkham Intelligence

German Member of Parliament, Joana Cotar, believes that selling Bitcoin is a HUGE mistake.

In a recent Twitter post, Cotar slammed the German government's decision to sell its Bitcoin.

“Instead of holding Bitcoin as a strategic reserve currency, as is already being debated in the USA, our government is selling on a large scale.”

Joana Cotar

Cotar even invited German Chancellor Olaf Scholz, Prime Minister Michael Kretschmer, and Finance Minister Christian Lindner to a “Bitcoin Strategies for Nation States” event on Oct. 17, hosted by Samson Mow.

In her post, Cotar also attached a letter she sent to Prime Minister Kretschmer.

The letter “urgently” requested the German government to “refrain from hastily selling the Bitcoin in state possession.”

Cotar explained that a clear legal framework for Bitcoin is in Germany’s best interest.

As it stands, they still hold 40,358 Bitcoin…

We’ll keep you updated on any major developments.