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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.
- 16:19South Korean Prosecutors Seek 3-Year Prison Sentence for Actress Hwang Jung-eum Over Alleged Embezzlement of 4.2 Billion KRW in Public Funds for Cryptocurrency InvestmentsAccording to ChainCatcher, citing Yonhap News Agency, South Korean prosecutors are seeking a three-year prison sentence for actress Hwang Jung-eum, who has been indicted for allegedly embezzling 4.3 billion KRW (approximately 3.07 million USD) in company funds and investing in virtual currencies. On the 21st, during the final sentencing hearing at the Jeju District Court’s Criminal Division 2 (presided over by Judge Im Jae-nam), the Jeju District Prosecutors’ Office requested the court to sentence the indicted actress Hwang Jung-eum to three years in prison for violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement). Previous reports stated that on June 17, South Korean actress Hwang Jung-eum (phonetic) was indicted for allegedly embezzling approximately 4.2 billion KRW (about 3.07 million USD) in company funds to invest in virtual currencies. Her agency, Y1 Entertainment, announced on June 17 that Hwang Jung-eum had repaid the entire debt in two installments on May 30 and June 5. Earlier, around 2022, Hwang Jung-eum withdrew a total of 4.34 billion KRW from Hunminjeongeum Entertainment, most of which was used for cryptocurrency investments. The case involves violations of the embezzlement provisions under the Act on the Aggravated Punishment of Specific Economic Crimes and is currently under judicial review.
- 16:12Grayscale: Actively Managed Crypto Income Strategy Now Available to Financial Professionals via iCapital MarketplaceAccording to Jinse Finance, digital asset management platform Grayscale Investments has announced that its first actively managed investment strategy is now available to financial professionals through the iCapital Marketplace. This move expands Grayscale’s reach to a broader network of financial advisors, offering qualified investors access to non-traditional investment opportunities such as cryptocurrency staking. Reportedly, the strategy aims to monetize staking rewards and distribute them to investors in US dollars on a quarterly basis.
- 16:12A Bitcoin whale deposits 20 million USDC into HyperLiquid and goes long on ETH with 6x leverageAccording to Jinse Finance, Onchain Lens monitoring has revealed that a Bitcoin OG whale has deposited 20 million USDC into HyperLiquid and opened a leveraged long position on ETH with 6x leverage in a new wallet.