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Bitcoin is down to one-month lows, and BTC price predictions are tending to assume worse is to come — how much lower can bears manage?
PLUS: BTC's positive vibes may be waning as outflows from BTC investment products rose for the first time in weeks. But mining is in a better state than it was a year ago.
The U.S. central bank has been telegraphing its intent to renew rate hikes for weeks. ThePersonal Consumption Expenditures report arrives Friday, but cryptos and other risk-on assets have been largely immune to macro events.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Digital asset investment products recorded outflows last week for the first time since mid-June, CoinShares reported.
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices.
Worldcoin price soared to $3.58 shortly after launching but traders and crypto advocates have many concerns.
MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price.
Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
- 19:2613 of the Top 25 U.S. Banks Are Developing Bitcoin Products for Their ClientsAccording to a report by Jinse Finance, citing crypto financial institution River, 13 out of the top 25 banks in the United States are developing Bitcoin products for their clients. At first, they ignored it, then they fought against it. Now, they are beginning to embrace Bitcoin.
- 18:41129.44 Trillion: Bitcoin Reaches All-Time High Mining DifficultyAccording to Jinse Finance, Bitcoin network difficulty increased by 1.42% last Friday at block height 909,216, making it more challenging to obtain block rewards. This adjustment pushed the difficulty to 129.44 trillion, setting a new all-time high for the network. Meanwhile, in 2025 so far, the difficulty has been adjusted 16 times. Since January 12, the difficulty has seen a slight increase of 0.61%. Of these adjustments, there were 11 increases, totaling a rise of 34.27%, and 5 decreases, totaling a drop of 16.54%. This means that Bitcoin mining difficulty has risen by 17.73% so far this year. The latest increase has also led to a slight decline in hash rate.
- 17:51Solayer Announces Upcoming Launch of Solayer Bridge (sBridge)Foresight News reports that Solayer has announced the upcoming launch of Solayer Bridge (sBridge). It supports bridging any Solana token, features instance bridge cap limits, a non-database design, and on-chain replay protection. It can operate statelessly and is highly optimized for SVM. Solayer Bridge (sBridge) is a cross-chain bridge based on SVM, specifically designed to securely transfer assets and execute cross-chain transactions between the Solana and Solayer environments.