JUST IN: U.S. elections - The Democratic Party releases its platform, with no mention of Bitcoin or crypto
The Democratic Party's official 2024 platform was released yesterday (Monday) on day one of the Democratic National Convention, without any mention of Bitcoin or cryptocurrency. This decision aligns with the past four years of the Biden-Harris administration's hostility towards the industry. Despite the growing significance of Bitcoin and digital assets, neither Kamala Harris or Tim Walz, who are running for president and vice president in the upcoming election this November, has prioritized the inclusion of Bitcoin and crypto in the party's agenda. Source: Bitcoin magazine, www.zerohedge.com
Distribution of Bitcoin Supply
Source: Vivek⚡️@Vivek4real_ on X
Recent data from Bitcoin Magazine Pro shows a significant trend among Bitcoin holders: nearly 75% of all circulating Bitcoin has remained dormant for over six months.
This strong HODLing behavior reflects a steadfast belief in Bitcoin's long-term value, despite market fluctuations. Source: www.zerohedge.com
Bitcoin has dipped below its historical post-halving growth trajectory range
If it returns to this range before year-end, we're looking at a high likelihood of a six-figure value for one BTC. Source: Ecoinometrics
This week we've seen the biggest bitcoin fund inflows since July 22.
Meanwhile Larry Fink just keeps waving it in... Source: www.zerohedge.com
JUST IN: President Putin signs law legalising Bitcoin and crypto mining in Russia.
Russia seems to be acting to keep up with the US. Nation-level as Bitcoin FOMO is heating up. Their entry will boost the hash rate, strengthen network fundamentals, and diversify miner politics. Chinese mining pools control 57% of the BTC hash rate, while the 🇺🇸US has 35%. Source: Cryptoquant, Ki Young
Whales are accumulating Bitcoin like never seen before.
Source: Cryptoquant
Bitcoin $BTC reaction following the news that Biden is leaving the race was heavily scrutinized by market participants for 2 reasons
1/ It is the only risk assets traded 24/7 and thus reacting to news over the week-end; 2/ Bitcoin is now seen as a "pro-Trump" asset (i.e of it goes down that means that markets see a lower chance for Trump to be re-elected). While the initial reaction to the news was BTC going down almost $1,000 in a matter of minutes, BTC bounced back later on to trade at the highest level of the week-end (around $68k). So if Bitcoin is any guide, the Trump election trade does not seem to have been damaged... Source chart: coingecko
