Joe Biden Withdraws His Candidacy for President
US President Joe Biden announced that he will not run again in the 2024 US presidential elections and supported Vice President Kamala Harris as the Democratic Party candidate. This decision was made as a result of pressure from within the party, which included advice from former President Barack Obama and key senators. Biden’s withdrawal caused significant fluctuations in the cryptocurrency market. In the prediction markets, Harris’s chance of winning the nomination increased to 26%, while Trump remained stable at 63%.
Cboe Says 5 Spot Ethereum ETFs Will Launch July 23
Spot Ethereum ETFs from firms like Fidelity and VanEck will begin trading on July 23, according to Cboe. ETFs approved by the U.S. Securities and Exchange Commission include Fidelity Ethereum ETF, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and 21Shares Core Ethereum ETF. Fidelity is waiving its 0.25% fee through the end of 2024, while Franklin Templeton, VanEck and 21Shares offer similar incentives for certain periods or fund amounts. Bloomberg Senior ETF Analyst Eric Balchunas confirmed July 23 as the trading start date.
$17 Billion Net Inflows in US Bitcoin ETFs
Bitcoin spot exchange-traded funds (ETFs) in the US set a new record with net inflows totaling more than $17 billion. Those net inflows were primarily driven by BlackRock’s IBIT, which raised $18.968 billion, according to data tracked by Farside Investors. Fidelity’s FBTC also made a significant contribution, with net inflows of $9.962 billion. In comparison, Grayscale’s GBTC experienced a massive net outflow of $18.694 billion. On July 17, 11 US spot Bitcoin ETFs recorded daily net inflows totaling $53.35 million. This marks nine consecutive days of positive entries.
ApeCoin DAO Votes for $3.6 Million APE Themed Hotel in Bangkok
The ApeCoin DAO is voting on a $3.6 million proposal to build an APE-themed hotel in Bangkok, aiming to increase ApeCoin’s visibility and utility. This initiative is part of intensive efforts within the Bored Ape Yacht Club (BAYC) community to grow the APE ecosystem. According to the proposal, 50% of the revenues from the themed rooms will go to the ApeCoin DAO for one year after these rooms are completed.
Bitcoin Tested the $68 Thousand Level
Bitcoin continued its upward movement that started on Friday over the weekend and tested the 68 thousand dollar level again approximately two months later. Although there was a small decrease on Sunday, especially after Joe Biden announced that he would withdraw from the US presidential elections, we saw that the upward movement continued.
Australian Stablecoin Startup Stables Expands into Europe
Australian stablecoin payment startup Stables has announced its expansion into Europe in partnership with Mastercard. Co-founder Bernado Billota said it points to a broader trend of dollar-pegged assets entering the mainstream. Stating that this expansion is an important step for his company, Bilotta said that the total addressable market size of new customers in Europe is approximately twenty times that of Australia. The new partnership will allow Stables users to shop with Circle-owned USD Coin wherever MasterCard is accepted and in 27 countries across Europe through digital merchants such as Apple and Google Pay.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $67,756 with a 0.58% loss in value. With the horizontal band breaking upward again, the middle band level of $65,000 was also broken upward. In the continuation of the upward movement, $ 72,000 appears as the first resistance. When this level breaks up, a new ATH level can be seen. If $65,000 does not act as support, a decline to $59,000 may be seen.
ETHEREUM (ETH)
ETH is priced at $3503 with a 0.91% loss of 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.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5928 with a 1.02% 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 $27.02 with a 0.44% loss in value as of the morning hours. When we examine the four-hour chart, we see that it looks similar to the head-and-shoulders (OBO) formation. The neckline of this formation appears at $26.60. In case of a downward breakout movement, the $26 level may be tested. In upward movements, the $27.50 level is an important resistance point.
SOLANA (SOL)
SOL is priced at $180.73 with a 2.02% depreciation as of morning hours. When we examine the daily chart, we see that the $170 area, which we follow as the resistance zone, has been broken upwards. Additionally, as this movement continued, the falling breakout zone was tested. In upward movements, the $185 level appears as resistance. In case of withdrawals, the $ 175 level can be followed.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 14,400, with a 2.80% loss in value. When we examine the four-hour chart, we see that the $14 level, which we follow as the resistance zone, has been broken upwards and the $15 level is being tested. There is some selling pressure from this region. If the pullback continues, the $14 and $13,500 levels can be followed as support.
TRX
TRX is priced at $0.13710 with a 2% gain in value as of the morning hours. When we examine the four-hour chart, we see that the ascending triangle formation has been broken upwards. If this movement continues, the $0.14 level can be targeted. In case of withdrawals, the $ 0.13550 region can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2405 dollars with a 0.65% loss in value. When we examine the daily chart, we see that after the horizontal movement broke upwards, it returned to the horizontal region with a retreat movement and the breakout movement was invalid. The $2400 level appears as support in downward movements.
OUNCE OF SILVER
Silver is priced at $29.06 with a 0.54% loss in value as of the morning hours. When we examine the four-hour chart, we see that the downward movement accelerated with the downward break of the $ 29.50 level, which we follow as the support zone. If this movement continues, the $29 and $28.60 levels appear as important support areas.
