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
Here are the details for the Ethereum ETFs that could be launched as early next week.
The only missing details are for Proshares's ETF. 7 of the 10 funds have fee waivers. Source: James Seyffart, Bloomberg
Bitcoin jumps >$60k as Trump shooting boosts Trump election odds.
Cryptos are the only assets trading 24/7. This could indicate a positive market reaction tomorrow. Source: Bloomberg, HolgerZ
JUST IN: On-chain data confirms this is the second-largest liquidation event in Bitcoin's entire history, right after the FTX collapse in November 2022.
This comes amidst news that Germany is selling $3.5B worth of seized $BTC, and Mt. Gox begins paying back $8.5B to creditors, with the majority expected to be sold. Source: WhaleWire on X
BREAKING: Donald Trump is reportedly in talks to speak at the 2024 Bitcoin convention in July.
This would make Trump the first presidential candidate to speak at a crypto event. Most recently, Trump said he "will end Biden's war on crypto" at a rally in Wisconsin. Source: The Kobeissi Letter
103K Bitcoin has been added to OTC desk wallets in the past six weeks.
The rising balance and falling market price suggest they haven't found a buyer yet. Source: Cryptoquant
The Great Bitcoin Crash of June 2024.
Source: John Osterman
MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per bitcoin
Here's how these things are doing since Michael Saylor microstrategy $MSTR started buying bitcoin $BTC Source: J-C Parets
