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Bitcoin miner Iris Energy's stock plummets after short seller calls company a 'Prius at the Grand Prix'

Iris Energy’s stock plunged nearly 20% in midday trading Thursday after activist short seller Culper Research published a short report on the bitcoin miner’s stock. The short-seller analogized the company as looking “to win the Monaco Grand Prix, but just arrived to the track in a Toyota Prius.”. “​​IREN talks a big game of its HPC plans, but ultimately seems entirely disinterested in actually doing what it takes to compete in the space,” Culper analysts wrote in the report.

Source

https://t.me/Bitcoin_NewsTg
25.8K views04:54
Malaysian crypto miners stole $722 million worth of power: energy official

Cryptocurrency miners in Malaysia stole at least RM3.4 billion ($722 million) worth of power between 2018 and 2023, the country’s energy official said. Akmal Nasrullah Mohd Nasir, deputy energy transition and water transformation minister, said on Wednesday that the illegal crypto mining activities have become more widespread, local news website Malay Mail reported.

Source

https://t.me/Bitcoin_NewsTg
26.0K views16:22
Donald Trump to speak at Bitcoin 2024 conference in Nashville later this month: organizer

Former U.S. President Donald Trump was announced as one of the speakers at the Bitcoin 2024 conference in Nashville, Tennessee. The event, which is one of the world's largest bitcoin conferences, takes place from July 25 to 27. Over the past few months, the presumptive Republican Party presidential nominee has expressed strong support for the cryptocurrency and blockchain industry.

Source

https://t.me/Bitcoin_NewsTg
26.1K views06:29
US national debt equates to 614 million Bitcoin at current prices

According to an infographic from Jeff Park, head of alpha strategies at Bitwise, Bitcoin ETFs have accumulated a staggering 247,018 Bitcoin since their launch. This is roughly double the 124,212 Bitcoin produced by miners since Jan. 11, the ETF launch date. This significant purchasing activity highlights the growing demand for Bitcoin amid a supply constraint exacerbated by the April halving, which cut the daily Bitcoin issuance from approximately 900 to 450 BTC.

Source

https://t.me/Bitcoin_NewsTg
26.2K views07:11
US Spot Bitcoin ETFs See Second Day of Inflows, Amassing $294.9 Million

Spot bitcoin ETFs in the U.S. experienced another day of gains on Monday, capturing $294.9 million in inflows during the trading session. These inflows follow the $143 million accumulated on Friday, July 5. Blackrock’s Bitcoin Trust (IBIT) led the pack, attracting $187.21 million in inflows. This boost brings IBIT’s reserves to 310,470.32 BTC, valued at $17.83 billion, according to sosovalue.xyz stats.

Source

https://t.me/Bitcoin_NewsTg
26.2K views16:17
German Government Liquidates $741M in Bitcoin Holdings

Ten hours ago, the German government’s bitcoin wallets transferred 1,205 BTC to various parties. At 7:40 a.m. EDT, the wallets held approximately 38,621 BTC, but by 4:30 p.m., the government’s bitcoin holdings had dropped to 26,686 BTC after divesting an additional 11,935 BTC. Currently, the government’s bitcoin wallet is valued at approximately $1.5 billion in U.S. dollars.

Source

https://t.me/Bitcoin_NewsTg
25.9K views05:41
Bitcoin’s price drop created $441 million buying frenzy for crypto investment products

Bitcoin’s recent price struggles presented investors with “buying opportunities,” resulting in the inflow of $441 million into crypto-related investment products, according to CoinShares‘ latest report. James Butterfill, the head of research at CoinShares, explained that digital assets experienced heavy volatility last week due to selling pressures from the German government and news of defunct Mt. Gox’s repayments.

Source

https://t.me/Bitcoin_NewsTg
26.1K views16:43
Bitcoin Network Sees Second Largest Difficulty Reduction of 2024

Bitcoin’s mining difficulty dropped by 5% this week at block height 850,752 on July 4. This reduction, the second-largest this year, follows a 5.62% drop that occurred on May 9 at block height 842,688. Both significant decreases came after the fourth halving event at block height 840,000. Despite hashprice levels hitting unprecedented lows, the hashrate remains at 582.33 exahash per second (EH/s).

Source

https://t.me/Bitcoin_NewsTg
26.2K views05:35
Robert Kiyosaki Predicts $10 Million Bitcoin and $15,000 Gold After Major Market Crash

Rich Dad Poor Dad author Robert Kiyosaki predicts an imminent economic crash followed by a significant bull market where bitcoin could easily reach $10 million per coin, gold could reach $15,000 an ounce, and silver possibly $110 an ounce. Kiyosaki suggests this cycle is inevitable due to declining trust in fiat currencies and historical precedents.

Source

https://t.me/Bitcoin_NewsTg
26.3K views15:51
Bit Digital, Iris Energy report declining Bitcoin output, rise in hash rate YoY

Bit Digital and Iris Energy reported June Bitcoin (BTC) mining results on July 5, posting one-year hash rate increases alongside reduced BTC output since April. Bit Digital reported a hash rate of 2.57 exahashes per second (EH/s) as of June 30, up from 2.54 EH/s in May and 1.78 EH/s in June 2023. The firm produced 61.7 BTC in June, down 2.5% from May. In earlier reports, the company said it produced 63.3 BTC in May and 119.3 BTC in April.

Source

https://t.me/Bitcoin_NewsTg
26.0K views13:37
Bitcoin suffers fifth largest realized loss since FTX collapse amid Mt. Gox panic

Bitcoin’s recent price dip to around $54,000 has triggered one of the largest realized losses since the FTX collapse, specifically the fifth biggest realized loss since. This significant sell-off is primarily attributed to panic selling spurred by news related to Mt. Gox. On July 5, within a one-hour resolution, Bitcoin’s aggregated realized loss soared to $814 million. $587 million of these losses were incurred by short-term holders who had held Bitcoin for one to three months.

Source

https://t.me/Bitcoin_NewsTg
26.2K views15:47
German Government Still Holds Over 40K Bitcoins After Recent Sale, Onchain Data Shows

The German government has been selling seized bitcoin but still holds more than 40K BTC, worth over $2.3 billion, according to onchain data from blockchain intelligence firm Arkham. These sales are occurring alongside the anticipated Mt. Gox bitcoin distributions. In response to Germany’s BTC liquidation, Tron founder Justin Sun has offered to purchase the remaining bitcoin off-market from the German government to minimize any price impact on the cryptocurrency.

Source

https://t.me/Bitcoin_NewsTg
25.7K views05:46
Bitcoin tumbles as whale sells 3,500 BTC, $310 million liquidated in 24 hours

According to CryptoSlate’s data, Bitcoin’s price has dropped approximately 6% in the past 24 hours, breaking the $58,000 mark to fall to as low as $56,900. Market observers warned that if the heavy selling action continues, this decline could be a precursor to a decline in the flagship digital asset’s price to the low $50,000s. Earlier today, blockchain analyst Lookonchain identified a whale that sold 3,500 BTC for $206 million in five hours through the Binance exchange.

Source

https://t.me/Bitcoin_NewsTg
26.1K views18:48
Bitcoin Bottom Is Near as Miners Capitulating Near FTX Implosion Level: CryptoQuant

Bitcoin (BTC) miners are showing signs of capitulation, an event that is typically tied to a market bottom after the world's largest cryptocurrency endured a 13% plight over the past 30 days. Bitcoin is currently trading at $60,300 after sliding by 3% on Wednesday. This level has acted as a critical support since April, with bitcoin bouncing three times from this region before heading back towards the $70,000 mark.

Source

https://t.me/Bitcoin_NewsTg
25.8K views04:55
Bitcoin correlation to S&P 500 goes negative indicating potential bottom

Bitcoin (BTC) has often mirrored the S&P 500 (SPX), with periods of positive correlation in the past five years, notably during the COVID-19 pandemic in 2020 and 2021, where both assets traded nearly 1:1. This trend continued towards the end of 2021 and throughout 2022, as both BTC and the SPX declined in tandem. In the first quarter of 2024, both Bitcoin BTC and SPX experienced significant gains.

Source

https://t.me/Bitcoin_NewsTg
25.9K views21:06
CleanSpark mines 445 BTC in June, exceeds 20 EH/s target with Georgia expansion

CleanSpark mined 445 Bitcoin (BTC) in June and grew its hash rate above 20 EH/s on the back of its recent expansion in Georgia. The mining firm’s June performance results, published On July 2, also described an average daily output of 14.83 BTC and a one-day high of 22.41 BTC. CleanSpark recorded an average daily hash rate of 17.85 EH/s during June, and its current hash rate is 20.4 EH/s — surpassing its mid-year target of 20 EH/s.

Source

https://t.me/Bitcoin_NewsTg
26.1K views05:46
Standard Chartered forecasts bitcoin could hit all-time high in August

Bitcoin's price could hit a new all-time high in August, followed by an increase to $100,000 by the time of the U.S. presidential election in November, according to Standard Chartered. On Tuesday, Standard Chartered Bank's head of forex and digital assets research Geoffrey Kendrick, said, "a fresh all-time for bitcoin in August is likely, then $100,000 by U.S. election day."

Source

https://t.me/Bitcoin_NewsTg
26.0K views19:44
Bitfarms reports 21% increase in Bitcoin production amid upgrades and takeover drama

Bitcoin miner Bitfarms reported an increase in Bitcoin production for June following an overall capacity upgrade. According to its latest monthly production report, Bitfarms’s BTC production rose 21% month-on-month to 189 BTC in June, up from the 156 BTC it produced in May. The miner stated that its production was impacted by the curtailment in Argentina and the downtime associated with upgrading its miners in Quebec. However, this was partially offset by a 0.8% decrease in network difficulty compared to May.

Source

https://t.me/Bitcoin_NewsTg
24.8K views08:34
Bitcoin set for ‘bullish July’ after June slump, analysts predict

Several market analysts expect Bitcoin to rebound strongly in July after declining by around 7% in June. Last month, BTC faced heavy selling pressure from capitulating Bitcoin miners, who offloaded around $2 billion worth of their holdings due to falling revenue. The consistent selling activities of governments, including those of the United States and Germany, created additional selling pressure.

Source

https://t.me/Bitcoin_NewsTg
26.0K views16:40
Bitcoin sees all-time-low weekend trading levels following ETF approvals: Kaiko

Bitcoin's reputation, at least in the mainstream, is nearly synonymous with volatility. However, the cryptocurrency's once-wild weekends may be a thing of the past, as in 2024, trading volume on weekends has sunk to its lowest level in bitcoin's history. While in 2019 up to 28% of bitcoin trading volume took place on the weekends, this past year that number has been only 16%, according to a new report from cryptocurrency research firm Kaiko.

Source

https://t.me/Bitcoin_NewsTg
26.1K views07:46
Central Bank of Bolivia Unbans Bitcoin From the Nation's Financial Ecosystem

The Central Bank of Bolivia has lifted a blanket ban on using bitcoin and other cryptocurrencies in the national financial system, opening the doors for integrating exchanges and other crypto service providers into its economy. The institution derogated a 2020 resolution prohibiting financial institutions from facilitating crypto-related payments.

Source

https://t.me/Bitcoin_NewsTg
25.9K views23:50
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25.9K views18:57
Bitcoin put-call ratio turns pessimistic ahead of Friday's quarterly expiry

The put-call ratio for bitcoin option on Deribit leading up to today's expiry has risen to 1.66. A ratio above one means significantly more put options than call options being traded. This indicates that more investors are betting on or hedging against a price decline rather than an increase. Deribit end-of-June options data shows 107,000 bitcoin options are expiring with a max pain point of $61,500 and a notional value of $6.6 billion. As of the time of writing, bitcoin is priced at $61,398, approaching the max-pain point ahead of today's expiry.

Source

https://t.me/Bitcoin_NewsTg
26.0K views18:08
Bitcoin Miner CleanSpark (CLSK) Buys Out GRIID In $155 Million Stock Transaction

CleanSpark (CLSK) – one of the largest publicly traded Bitcoin mining firms – announced on Thursday that it had acquired one of its smaller competitors, GRIID Infrastructure, in an all-stock deal. The merger agreement required CleanSpark to assume all debts and other obligations from GRIID. It also required CleanSpark to provide GRIID with a $5 million working capital loan, and to pay down a bridge loan of $50.9 million to satisfy other obligations from the smaller miner.

Source

https://t.me/Bitcoin_NewsTg
26.0K views04:55
Bitcoin options implied volatility rises sharply on short-dated puts as traders prepare for potential downside swings: analysts

According to the CF Benchmarks' Bitcoin Volatility Index, the implied volatility for both short-dated puts and short-dated calls was approximately the same at the end of May, prior to the recent market downturn, during which bitcoin's price has fallen by over 14% in the past month. However, CF Benchmarks analysts are now observing a significant increase in implied volatility for near-term puts compared to their corresponding calls.

Source

https://t.me/Bitcoin_NewsTg
25.9K views19:29
STHs faced substantial losses as Bitcoin briefly fell below $60k

Over the weekend, Bitcoin saw a dramatic drop below $60,000, sparking over $537 million in realized losses predominantly from short-term holders (STHs). This sell-off highlights the volatility and reactive behavior of these market participants, with $441 million of these losses coming from those who had held BTC for a month or less. As the market turmoil unfolded, key on-chain metrics revealed a steep decline in the percentage of STH supply in profit.

Source

https://t.me/Bitcoin_NewsTg
25.9K views16:52
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26.0K views13:25
Congressman introduces bill to enable federal tax payments in Bitcoin

Congressman Matt Gaetz (R-Fla.) introduced legislation on June 25 that would require the IRS to begin accepting federal tax payments in Bitcoin. Gaetz emphasized the potential benefits of this “bold move” and said the bill will ensure that the US remains at the forefront of technological advancement. The bill proposes that taxpayers be allowed to use Bitcoin for federal tax payments, which Gaetz believes would “promote innovation, increase efficiency, and offer more flexibility to American citizens.”

Source

https://t.me/Bitcoin_NewsTg
25.9K views07:41
Bitcoin’s supply in profit drops to 80% as post-halving effects take hold

Bitcoin’s percentage supply in profit reflects dynamic market conditions. The first chart illustrates historical data from 2013 to 2024, showing periods where over 90% of the supply was in profit, particularly during 2017 and late 2020 to early 2021. This period correlated with significant price rallies, highlighting the cyclical nature of Bitcoin’s market.

Source

https://t.me/Bitcoin_NewsTg
26.0K views18:13
Bitcoin's Double Top Suggests BTC Could Fall to $50K: Analyst

Bitcoin (BTC) has carved out a double-top price pattern, signaling a potential bearish trend change ahead of key data release that could influence the Fed's interest rate path. Bitcoin's price journey has been a rollercoaster this month. After surging to nearly $70,000, approaching the all-time high of March, it has now retreated to $63,000, decoupling from Nasdaq's continued move higher, largely due to faster selling by miners.

Source

https://t.me/Bitcoin_NewsTg
26.0K views04:30