Global #Bitcoin

Recent data from IntoTheBlock reveals a promising trend for Bitcoin as the cryptocurrency network experiences a notable increase in daily new addresses. This uptick marks a significant reversal from earlier in the year when adoption levels had dipped to multi-year lows.

According to Kaiko’s latest report, significant bullish activity is emerging in the Bitcoin derivatives market, particularly on Deribit’s new election contracts.

On July 31, 2024, Nobuaki Kobayashi, the Rehabilitation Trustee for the defunct Mt. Gox exchange, announced a significant milestone: the completion of repayments to a substantial portion of the creditors. The exchange has successfully returned Bitcoin and Bitcoin Cash to over 17,000 creditors, with the process facilitated through exchanges such as Kraken and Bitstamp.

In a recent interview with Bloomberg, Samara Cohen, BlackRock's Chief Investment Officer of ETFs and Index Investments, forecasted that Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) will be integrated into model portfolios by the end of this year and into 2025.

In a significant development for the world's largest economy, the United States' national debt has surpassed a historic milestone, crossing $35 trillion for the first time. This staggering figure has sparked concerns about the long-term sustainability of traditional fiat currencies and has prompted discussions about alternative assets like Bitcoin.

In a surprising move today, the cryptocurrency community was abuzz with news of a substantial Bitcoin (BTC) withdrawal from Binance, executed by a prominent whale known as "12QVsf." According to Spot On Chain, this whale withdrew a staggering 1,300 BTC, valued at approximately $85.6 million at current prices.