Global #investment

The cryptocurrency market is experiencing a welcome surge as news broke of a potential $2 billion influx of funds. This significant investment comes amidst speculation of an upcoming interest rate cut by the Federal Reserve, a development often seen as positive for riskier assets like cryptocurrencies.

The world of Bitcoin continues to see positive developments as DeFi Technologies, a company at the forefront of decentralized finance (DeFi), has announced a significant investment in the leading cryptocurrency. This move is seen as a major win for Bitcoin and further strengthens its position in the financial landscape.

Bitcoin (BTC) is expected to surpass the significant milestone of $100,000 after a temporary dip, according to a crypto strategist. This bullish prediction comes amidst a period of price fluctuations for the world's leading cryptocurrency.

Notcoin (NOT), a new player in the cryptocurrency arena, has been gaining attention recently. Technical analysts are observing a potentially bullish chart pattern forming for NOT – the falling wedge triangle.

The first full week of June saw a notable surge in institutional investment in Bitcoin via US-based exchange-traded funds (ETFs). Data from HODL15Capital indicates that these Bitcoin ETFs collectively acquired an impressive 25,729 BTC, equivalent to about two months' worth of the cryptocurrency's mined supply.

New Zealanders are increasingly turning to cryptocurrency as a wealth-building tool, according to a new study by Protocol Theory and Easy Crypto. The research suggests a significant shift in investment preferences, with nearly half of respondents (45%) indicating an interest in crypto, compared to traditional real estate.

As the global economy shows signs of slowing down, the possibility of a recession hitting in the second half of 2024 is becoming increasingly real. With its unique position as a digital gold and hedge against inflation, how might Bitcoin's price be affected by such an economic downturn? ChatGPT-4o, a powerful language model, provides insights based on historical trends, current market sentiment, and potential future scenarios.

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has seen a slight decline recently, aligning with the broader crypto market's downward trend. However, a well-known crypto analyst, Mags, anticipates a bullish 13% rally for Ethereum in the near future.

In recent months, many new memecoins have emerged and gained substantial popularity. Despite these new tokens capturing a significant portion of the market share, Shiba Inu (SHIB) has continued to grow.

As per a recent report from CryptoQuant, large investors, often referred to as "whales," are accumulating Bitcoin at a rate reminiscent of the period before the 2020 bull market. The data from the firm indicates daily inflows of $1 billion into Bitcoin and a notable uptick in holdings by these whales, similar to patterns observed in mid-2020.

Bitcoin exchange-traded funds (ETFs) have attracted $488 million in net inflows, pushing the price of BTC to $71,767, nearing its peak value and indicating renewed investor confidence.

In his latest essay titled "Group of Fools," Arthur Hayes, co-founder of BitMEX, provides a critical analysis of recent macroeconomic events and their potential impact on the cryptocurrency market. Known for his direct style, Hayes combines technical analysis, criticism of central banking practices, and insights into currency markets to make the case for a resurgence of bullish sentiment in Bitcoin and crypto.