Fed Leaves Interest Rate Fixed
The US Federal Reserve kept the interest rate constant in the range of 5.25% – 5.50% and was reluctant to guarantee an interest rate cut in September. Inflation has decreased over the past year but remains somewhat high and the economic outlook is uncertain, the Fed said. Following the announcement, bond yields and the dollar rose slightly. Bitcoin fell to $65,000. Despite market expectations, Fed Chairman Jerome Powell emphasized that they have more confidence that inflation is moving towards the 2% target, but that no decision has been made for September yet.
Fidelity International Lists Bitcoin ETP on London Stock Exchange
Fidelity International said on Wednesday that its Bitcoin ETP product is listed on the London Stock Exchange and is only accessible to professional investors. The launch of the Fidelity Physical Bitcoin ETP comes after the UK Financial Conduct Authority approved the listing of Bitcoin ETN products for professional investors in late May.
Treasury-Backed Stablecoin USDY Launched on Aptos
Aptos Foundation announced the launch of Ondo Finance’s yield-generating stablecoin, Ondo US Dollar Yield (USDY), on the Aptos blockchain. According to the Aptos Foundation, USDY, an instrument backed by United States Treasuries, will be available to non-US residents using the Aptos blockchain. The digital asset has not yet been registered under the Securities Act in the United States.
Grayscale Launches Mini Spot Bitcoin ETF with ‘Ultra-Low’ 0.15% Fee
Grayscale has launched a new product called Grayscale Bitcoin Mini Trust ($BTC), which is a standalone spin-off of GBTC. This new product aims to attract more investors by offering an ultra-low fee of 0.15% compared to GBTC’s 1.5% fee. Existing GBTC holders can automatically receive shares in the new fund without changing the value of their portfolio. Mini Trust will be listed on NYSE Arca, with Coinbase Custody Trust Company serving as the digital asset custodian and Foreside Fund Services as the marketing agent. This move positions Grayscale as the cheapest Bitcoin ETF issuer in the US market.
Mt. Gox Transferred 2.2 Billion Dollars of BTC to its New Address
Mt. Gox transferred more than $2 billion worth of Bitcoin to a new address. This transfer follows previous large transfers to Bitstamp, Kraken and other exchanges tasked with returning customer funds. Currently, Mt. Gox wallets still hold approximately $5.29 billion. More than 17,000 creditors received their refunds in BTC and BCH through designated exchanges.
Bitcoin Law Proposal from US Senator
U.S. Senator Cynthia Lumnis formally introduced the Enhancing Innovation, Technology, and Competitiveness Through Nationwide Optimized Investment, Bitcoin Act in the Senate on July 31. This law aims to create a Strategic Bitcoin Reserve to transparently manage the government’s Bitcoin assets. In addition, this law aims to strengthen America by creating a Bitcoin reserve.
Worldcoin Expanded Its Activities to Austria
Worldcoin announced that it has expanded its operations in Austria. According to the announcement, Worldcoin Foundation has launched World ID orb verifications in Austria to increase its database in the European market. As a result, World ID globes in Vienna will be accessible to anyone over the age of 18 from Wednesday, July 31. “Austria joins neighboring Germany in providing significant evidence of human technology in Europe, amid continued interest and growth in other countries around the world,” Worldcoin Foundation said. said.
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BITCOIN (BTC)
BTC is priced at $64,175 with a 0.73% loss of value as of the morning hours. After rising to $70,000, the first rejection was encountered. The pullback may continue towards $63,000. If there is an upward reaction from $63,000, a rise may occur up to $69,000. For prices below $63,000, a withdrawal may occur up to $58,000.
ETHEREUM (ETH)
ETH is priced at $3172 with a 1.82% loss of value as of the morning hours. We see a sideways 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 $3400 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 $0.6078 with a 2.44% loss 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 $25.33 with a 1.44% loss in value as of the morning hours. When we examine the four-hour chart, the middle region of the horizontal band has broken down. As long as this price structure is maintained, pricing below $27 may be seen. If there is a break 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 dollars, the 21 dollar region is among the places where the price can hold.
SOLANA (SOL)
SOL is priced at $169.07 with a 1.53% depreciation as of the morning hours. When we examine the four-hour chart, we see that the $168 level, which we follow as the support zone after yesterday’s downward movement, has been tested. If the reaction movement from this region continues, the $175 level appears as resistance. If the support zone breaks downwards, the $160 region can be tested.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 12.80, with a 0.23% loss in value. When we examine the four-hour chart, we see that the rising trend with the downward movement and the horizontal support zone is being tested at the same time. If this reaction movement continues, a double bottom formation may occur and a movement towards the $ 13.20 region may be possible.
BCH
BCH is priced at $416.7 with a 0.68% gain in value as of the morning hours. When we examine the four-hour chart, we see that the support area we follow as the $ 400 – $ 410 region has been tested. If this movement continues, the $430 and $450 areas appear as resistance.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2446 dollars with a 0.08% loss 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 $28.92 with a 0.28% loss 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. With this breakout movement, we saw that the $29 level was tested and there was some withdrawal movement. If there is persistence above this region, the $ 29.50 region can be tested.
