In the crypto market report covering the week of July 1 – 8 prepared by the ICRYPEX Research team, we compiled the current developments regarding crypto assets, price movements of crypto assets and macroeconomy.
You can take a look at the general flow of this report below, and access all the developments that took place in the 7-day period at Weekly Crypto Market Reports: July 1, 2024.
July 1 Weekly Crypto Market Report Overview
Last week was a week in which intensive macro data were announced, especially employment data, which is followed with great importance in America.
When we examine the performances in the crypto market, Bitcoin completed the week at 55 thousand dollars with an 11% loss in value. Thus, a daily and weekly closing was achieved below the 58 thousand dollar level, which we have been following as a support zone since February 28. On the Ethereum side, there was a weekly loss of 14% and the $ 3000 region was broken downwards. When we look at the Bitcoin dominance chart to see the status of altcoins in this process, BTC.D closed at 55% with a 0.47% gain in value. The total crypto market value decreased to 2 trillion dollars.
One of the biggest news of last week was Mt., a crypto exchange that went bankrupt. It was news that Gox was starting payments. When we examine the details of the news dated July 5, we see that the Japanese cryptocurrency exchange Mt. Gox transferred 47,228 Bitcoins, worth approximately $2.71 billion at current prices, to a new wallet address. According to blockchain analysis firm Arkham Intelligence, this transaction was made by Mt. It marks Gox’s largest Bitcoin movement since May. Another development that put downward pressure on prices was the Bitcoin transfers made by the German Government.
Those who want to get more comprehensive information about the week covering July 1 – 8 can review Weekly Crypto Market Reports: July 1, 2024.
