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Cryptocurrency News Today – July 8, 2024
Welcome to “Crypto News Today”, your daily digest of the cryptocurrency industry.
Crypto Fear & Greed Index Hits Low, Bitcoin Could Drop Further
The Crypto Fear & Greed Index has plunged to its lowest level since early 2023, indicating extreme fear in the market and hinting at a potential rebound in Bitcoin’s price. This shift comes as major Bitcoin holdings, including those of the German and US governments and the Mt. Gox holdings, are set for liquidation, adding to market pressure. Analysts warn that Bitcoin could fall to $50,000 in the coming months, with investor sentiment at its most negative level since the end of the crypto winter of 2022. To learn more, visit the TDR website!
Inflows into US spot Bitcoin ETFs peak at $143.1 million as investors buy the dip
Inflows into US spot Bitcoin ETFs surged by $143.1 million, as investors capitalized on the recent decline in Bitcoin prices. The significant increase highlights growing confidence in Bitcoin’s long-term potential amid market turbulence.
Solana-Based Memecoin Billy Continues Bullish Trend, Up Over 44% Days After Listing
Billy, a memecoin on the Solana blockchain, has seen its value rise over 44% just a few days after its listing. The token’s impressive performance reflects the ongoing excitement and speculative interest in the memecoin market.
German MP Urges Govt to Stop BTC Sales, Calls for Strategic Reserve
A German MP has called on the government to stop selling Bitcoin, instead advocating the creation of a strategic reserve. This concern is aimed at positioning Germany as a leader in the digital asset class.
Canadian regulator probe finds Liquitrade operating illegal cryptocurrency exchange
A Canadian regulatory investigation has concluded that Liquitrade is operating as an illegal cryptocurrency exchange. This determination highlights the ongoing regulatory challenges and need for compliance in the cryptocurrency industry.
Biden’s Polymarket odds changed little after ABC TV interview
President Biden’s odds on the prediction market platform Polymarket remained largely unchanged after his interview on ABC TV. The interview did not have a significant impact on the market’s perception of his future political prospects.
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