New Post

DAILY MARKET OVERVIEW
Bitcoin Bounces Back as Inflation Cools

Hey there, Crypto Enthusiasts! It’s an exciting Thursday in the world of crypto. Big news is shaking things up today, so let’s jump in and see what’s happening!

Great news! Bitcoin is on the rise again, and it’s all thanks to some encouraging economic data. Let’s break down what’s happening and why it matters for your favorite digital currency.

Inflation Takes a Chill Pill

The latest report on US inflation just dropped, and it’s better than expected. In June, prices only went up by 3% compared to last year, which is lower than what experts predicted. Even more exciting? Prices actually went down a tiny bit from May to June – the first time that’s happened in over three years!

Why This is Good for Bitcoin

When inflation slows down, it usually means the government might stop raising interest rates so aggressively. Some people even think they might start lowering rates soon. This is typically good news for Bitcoin because:

• Lower interest rates often mean a weaker US dollar, which can make Bitcoin more attractive.

• Investors might be more willing to put money into “riskier” assets like crypto when they’re not as worried about inflation.

Bitcoin’s Price Reaction

As soon as this news hit, Bitcoin’s price jumped up past $59,000. It’s now showing a 2.8% gain over the past week, which is a nice change after some recent struggles.

What’s Next?

While this is positive news, don’t expect smooth sailing just yet. Here’s what to watch out for:

• The Federal Reserve’s next moves: They’re still aiming for 2% inflation, so they might not ease up completely.

• More economic data: Jobs reports and future inflation numbers will be crucial.

• Potential price swings: Some experts predict we might see big price moves around these important economic announcements.

More Bullish Events: Trump to Speak at Bitcoin Conference

In an unexpected twist, former President Donald Trump is scheduled to speak at a major Bitcoin conference in Nashville later this month. This could signal growing mainstream interest in crypto, so it’s definitely worth keeping an eye on!

SPONSORED
Claim Your Reward!

TWITTER SENTIMENT
Altcoin Season Soon?

Altcoins have faced significant challenges in recent weeks, but traders on Twitter believe the best is yet to come.

Bitcoin dominance, which has been steadily increasing over the past few months, might soon start to decline.

This potential shift suggests that funds could move from Bitcoin into altcoins, often marking the onset of an altcoin season where altcoins experience substantial gains.

Currently, BTC dominance remains strong, but keep a close watch as this could signal the start of the eagerly anticipated altcoin season.

NEWS OVERVIEW
The Latest Crypto Headlines

Bitcoin Rises on Slower Inflation in June
Bitcoin price jumps as U.S. inflation declines more than expected, signaling potential economic recovery.

Trump to Speak at Bitcoin Conference
Former U.S. President Donald Trump confirmed as a keynote speaker at the upcoming Bitcoin 2024 conference.

Illicit Funds Concentrate at Centralized Exchanges
Chainalysis report shows over 50% of illicit cryptocurrency ends up at centralized crypto exchanges.

Celer Network Warns of DNS Hijacking Attacks
Celer Network identifies potential DNS hijacking targeting its platform and other crypto websites.

YOUTUBE INFLUENCER SUMMARY

Credible Crypto – Crypto Altcoin Bottom In? (11.07.2024 Summary)

In this video, CredibleCrypto provides an in-depth analysis of the current state of the cryptocurrency market, focusing on Bitcoin and altcoins. He discusses the importance of key levels of invalidation and the logic behind them, using examples from past price movements to illustrate his points.

• CredibleCrypto emphasizes that despite the recent drop below the 60K level, which invalidated the lower timeframe uptrend, the higher timeframe structure for Bitcoin remains intact and bullish. He explains that it would take a significant effort to compromise the higher timeframe structure and that he remains optimistic about the market’s long-term prospects.

• Regarding downside targets, CredibleCrypto identifies the 53K area as the next level of support, with the zone between 40K and 49K being a high timeframe support cluster. He notes that even a 50-60% retracement would be considered normal and healthy in the context of a trending move, although in the current market conditions, a deeper retracement may be surprising but not impossible.

• Credible also discusses the role of leverage and spot selling in determining the depth of the correction. He suggests that the amount of effort that was required to break below 60K indicates that there is significant support in the market and that a move down to 40K is unlikely without a significant increase in selling pressure.

Overall, CredibleCrypto remains bullish on the cryptocurrency market, including altcoins, and believes the current correction is a normal and healthy part of the larger uptrend.

Ivan On Tech – BITCOIN: EMERGENCY FOR ALL HOLDERS! (11.07.2024 Summary)

Ivan discusses recent developments in the cryptocurrency market, particularly focusing on Bitcoin and the potential impact of political changes.

• He notes that while Bitcoin’s price has remained relatively stable around $58,000, there have been significant prints of USDC on the Solana blockchain, totaling $750 million in just a few days.

• Ivan interprets this as a sign of the start of a new short-term cycle within the broader bull market.

• Ivan emphasizes the potential impact of political changes, particularly the possibility of Donald Trump winning the upcoming U.S. presidential election.

• He suggests that Trump’s potential victory could lead to more crypto-friendly policies and regulations. Ivan states, “The likelihood of a Trump presidency is the single most mispriced aspect of crypto right now.”

• Ivan also mentions that Trump will be speaking at Bitcoin 2024 in Nashville, marking the first time a U.S. president has spoken at a Bitcoin conference.

• He believes this could lead to increased global adoption of Bitcoin, with other countries following suit if the U.S. takes a more supportive stance.

Throughout the discussion, Ivan maintains an optimistic outlook on the future of cryptocurrencies, particularly Bitcoin and Ethereum.

CRYPTO MEMES

“Crypto Traders On Summer Holiday