Bitcoin Dominance Reached Its Highest Level in the Last Three Years
Bitcoin dominance, which measures Bitcoin’s dominance relative to the total cryptocurrency market, reached a three-year high since April 2021, reaching 6%. Bitcoin dominance remains strong despite spot Ethereum ETFs trading. Bitcoin, which showed the fastest recovery in the withdrawal after ETFs, rose to the level before the Ethereum ETF news came.
Trust Wallet Collaborates with TON
Trust Wallet has partnered with TON to leverage Telegram’s user base to improve the integration of GameFi and decentralized applications. This collaboration aims to offer Trust Wallet’s 100 million users the opportunity to easily perform TON transactions. Trust Wallet will soon support TonKeeper wallet imports, TON Connect and TON DApps. Thus, it will provide its users with greater access to the TON ecosystem.
Mt. Gox Creditors Prefer to HODL
Mt. Approximately $4 billion worth of Bitcoin was distributed after Gox’s collapse. Many creditors still hold assets after a decade. Approximately 41.5% of the 141,686 BTC was redistributed, but the majority of creditors chose to keep their BTC rather than sell it. This reluctance to sell minimizes the potential selling pressure in the market and no significant increase in trading volume is observed. Mt. Collapsed, which collapsed as a result of a massive hack in 2014. Gox initially owed over $9.4 billion in Bitcoin to approximately 127,000 creditors.
Ripple Partners with Fenasbac to Accelerate Blockchain Innovation in Brazil
Ripple said Fenasbac will be part of its upcoming blockchain accelerator program known as Next. This program provides business resources, mentorship and investment opportunities to early-stage fintech companies with significant growth potential. These companies; It will develop solutions in areas such as payments, asset tokenization, treasury management and borrowing and lending. Together with Fenasbac, Ripple will provide startups with the necessary resources to scale their business and succeed in the crypto economy.
USA’s Largest Hedge Funds Invest in Bitcoin
More than half of America’s largest hedge funds invest in Bitcoin, according to data from investment firm River. Some hedge funds, such as Millennium Management, have invested nearly $2 billion in Bitcoin, the world’s largest cryptocurrency, and that number is expected to grow as Bitcoin becomes more institutionally adopted later this year. River analyzed the cryptocurrency sentiment of the country’s 25 largest hedge funds and found that more than 50% are invested in Bitcoin.
Cantor Fitzgerald Invested $2 Billion in Bitcoin Finance
Cantor Fitzgerald, one of the leading financial companies, announced that it will make a significant entry into the cryptocurrency market. The company announced plans to launch a dedicated Bitcoin finance business, taking a major step towards integrating traditional finance with digital assets. This new initiative will offer leverage to Bitcoin investors and highlight the growing connection between established finance and cryptocurrency. Cantor Fitzgerald aims for rapid growth in its Bitcoin financing business with an initial investment of $2 billion.
Trump Campaign Raises $21 Million at Bitcoin 2024 Conference
Former President Donald Trump raised $21 million at the Bitcoin 2024 conference in Nashville, making it his second-highest fundraiser. At the event organized by Bitcoin Magazine; It featured well-known names like the Winklevoss brothers, Kid Rock and Jake Paul, and the roundtable cost $844,600 per person. Trump’s campaign has raised $221 million in total since May, including $4 million in crypto donations. Trump, who has vowed to reform US crypto regulations and create a strategic Bitcoin reserve, has received significant support from the crypto industry.
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BITCOIN (BTC)
BTC is priced at $65,850 with a 0.50% loss of value as of the morning hours. After a rise to $70,000, the first rejection was encountered. The pullback may continue towards $65,000. If there is an upward reaction from $ 65,000, a rise may occur up to $ 72,000. For prices below $65,000, a withdrawal may occur up to $58,000.
ETHEREUM (ETH)
ETH is priced at $3282 with a 0.10% gain in value as of the morning hours. We see a horizontal movement between the $2860 and $4030 levels. These two levels can be followed as main support and resistance zones. The intermediate resistance zone is the $3700 level. If the resistance zones are crossed in upward movements, the $ 4000 level can be followed. $3100 serves as an important support. Below $3100, the $2860 level may be retested. If $3400 breaks upwards, a move towards $4000 is likely to start.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.6413 with a 2.13% gain in value. When we examined the daily chart, we saw that XRP faced a strong downward selling pressure from the $ 0.64 level, which we followed as a resistance zone after the strong movement in the past few days. With this move, XRP broke the $0.56 level, which we followed as the support zone, and gained this zone again. In upward movements, the $0.60 – $0.65 region appears as an important resistance zone.
AVALANCHE (AVAX)
AVAX is priced at $27.10 with a 0.91% loss in value as of the morning hours. When we examine the four-hour chart, the middle region of the horizontal band acts as support. As long as this price structure is maintained, prices above $30 may be seen. If there is a breakout of $30, $34 appears as the first resistance. In case of pullbacks, $25 appears as a strong support zone. In case of a loss of $ 25, the $ 21 region is among the places where the price can hold.
SOLANA (SOL)
SOL is priced at $178.7 with a 0.35% depreciation as of the morning hours. When we examine the four-hour chart, we see that the $180 level, which we follow as the support zone, has been broken downwards. If it persists below this region, we can expect a retreat towards the $175 region. In upward movements, the $185 and $190 levels can be followed as resistance.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $13.14 with a 0.08% gain in value. When we examine the four-hour chart, we see that the $13.20 – $13.40 area, which we follow as the support zone, has been broken downwards. If this movement continues and persists below the $13 level, the $12.50 level can be tested. We see that the $13.60 level is a critical region in upward movements.
FTM
FTM is priced at $0.4243 with a 2.21% loss in value as of the morning hours. When we examine the four-hour chart, we see that the $0.44 level was broken downwards yesterday and this downward movement continues. If FTM reacts again from the $0.42 region, which we follow as the support zone, a price movement towards the $0.45 region may be possible.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2417.68 dollars with a 0.27% gain in value. The rise continues after receiving a reaction from $2353. The $2417 area is a critical area. In case of an upward break, increases up to 2500 dollars may be seen. The $2350 region is likely to act as support in case of pullbacks.
OUNCE OF SILVER
As of the morning hours, silver is priced at $28.66 with a 0.97% gain in value. When we examine the hourly chart, we see that the horizontal movement between the $27.55 and $28.14 levels has been broken upwards. If this movement continues, the $28.80 – $29 region appears as resistance. In case of withdrawals, the $ 28.40 level can be followed as support.
